Athene Holding (ATH-PE) 10-Q 7 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Nov. 03, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-37963
Entity Registrant Name	ATHENE HOLDING LTD
Entity Incorporation, State or Country Code	D0
Entity Tax Identification Number	98-0630022
Entity Address, Address Line One	Second Floor, Washington House
Entity Address, Address Line Two	16 Church Street
Entity Address, City or Town	Hamilton
Entity Address, Postal Zip Code	HM 11
Entity Address, Country	BM
City Area Code	441
Local Phone Number	279-8400
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		203,805,432
Entity Central Index Key	0001527469
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Preference Share, Series A
Document Information [Line Items]
Title of 12(b) Security	6.35% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Share, Series A
Trading Symbol	ATHPrA
Security Exchange Name	NYSE
Preference Share, Series B
Document Information [Line Items]
Title of 12(b) Security	5.625% Fixed-Rate Perpetual Non-Cumulative Preference Share, Series B
Trading Symbol	ATHPrB
Security Exchange Name	NYSE
Preference Share, Series C
Document Information [Line Items]
Title of 12(b) Security	6.375% Fixed-Rate Reset Perpetual Non-Cumulative Preference Share, Series C
Trading Symbol	ATHPrC
Security Exchange Name	NYSE
Series D Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	4.875% Fixed-Rate Perpetual Non-Cumulative Preference Share, Series D
Trading Symbol	ATHPrD
Security Exchange Name	NYSE
Series E Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	7.75% Fixed-Rate Reset Perpetual Non-Cumulative Preference Share, Series E
Trading Symbol	ATHPrE
Security Exchange Name	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Investments
Available-for-sale securities	$ 129,700	$ 112,225
Investment funds	16,818	14,128
Derivative assets	4,571	3,309
Cash and cash equivalents	9,996	7,779
Restricted cash	1,218	628
Accrued investment income (related party: 2023 – $161 and 2022 – $105)	1,792	1,328
Reinsurance recoverable (portion at fair value: 2023 – $1,301 and 2022 – $1,388)	4,058	4,358
Deferred acquisition costs, deferred sales inducements and value of business acquired	5,448	4,466
Goodwill	4,060	4,058
Other assets (related party: 2023 – $184 and 2022 – $161)	8,628	8,693
Total assets	269,763	243,931
Liabilities
Interest sensitive contract liabilities (related party: 2023 – $9,055 and 2022 – $11,889; portion at fair value: 2023 – $8,084 and 2022 – $6,670)	189,065	173,616
Future policy benefits	46,672	42,110
Market risk benefits	3,021	2,970
Debt	3,634	3,658
Derivative liabilities	1,892	1,646
Payables for collateral on derivatives and securities to repurchase	7,652	6,707
Other liabilities (related party: 2023 – $606 and 2022 – $564)	2,543	1,860
Total liabilities	255,734	233,382
Commitments and Contingencies (Note 14)
Equity
Preferred stock	0	0
Common stock	0	0
Additional paid-in capital	19,447	18,119
Retained deficit	(2,831)	(3,640)
Accumulated other comprehensive loss (related party: 2023 – $(427) and 2022 – $(167))	(8,079)	(7,321)
Total Athene Holding Ltd. shareholders’ equity	8,537	7,158
Noncontrolling interests	5,492	3,391
Total equity	14,029	10,549
Total liabilities and equity	269,763	243,931
Variable Interest Entities
Investments
Trading securities, at fair value	2,133	1,063
Mortgage loans	2,042	2,055
Investment funds	15,090	12,480
Other investments	94	101
Cash and cash equivalents	152	362
Other assets (related party: 2023 – $184 and 2022 – $161)	99	112
Liabilities
Other liabilities (related party: 2023 – $606 and 2022 – $564)	1,255	815
Consolidated Entity, excluding Affiliated Entity
Investments
Available-for-sale securities	115,715	102,404
Trading securities, at fair value	1,592	1,595
Equity securities (portion at fair value: 2023 – $916 and 2022 – $1,087)	1,316	1,487
Mortgage loans	37,978	27,454
Investment funds	124	79
Policy loans	336	347
Funds withheld at interest	25,953	32,880
Derivative assets	4,571	3,309
Short-term Investments	527	2,160
Other investments	947	773
Total investments	189,059	172,488
Related Party
Investments
Available-for-sale securities	13,985	9,821
Trading securities, at fair value	871	878
Equity securities, at fair value	304	279
Mortgage loans	1,234	1,302
Investment funds	1,604	1,569
Funds withheld at interest	6,620	9,808
Short-term Investments	949	0
Other investments	327	303
Accrued investment income (related party: 2023 – $161 and 2022 – $105)	161	105
Other assets (related party: 2023 – $184 and 2022 – $161)	184	161
Liabilities
Interest sensitive contract liabilities (related party: 2023 – $9,055 and 2022 – $11,889; portion at fair value: 2023 – $8,084 and 2022 – $6,670)	9,055	11,889
Future policy benefits	3	1,353
Market risk benefits	183	195
Other liabilities (related party: 2023 – $606 and 2022 – $564)	606	564
Equity
Accumulated other comprehensive loss (related party: 2023 – $(427) and 2022 – $(167))	$ (427)	$ (167)

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Assets
AFS securities allowance for credit losses	$ 579	$ 459
Available-for-sale securities	150,894	131,422
Accrued investment income (related party: 2023 – $161 and 2022 – $105)	1,792	1,328
Reinsurance recoverable (portion at fair value: 2023 – $1,301 and 2022 – $1,388)	4,058	4,358
Other assets (related party: 2023 – $184 and 2022 – $161)	8,628	8,693
Investment funds	16,818	14,128
Liabilities and Equity
Interest sensitive contract liabilities	189,065	173,616
Future policy benefits	46,672	42,110
Liability	3,021	2,970
Other liabilities	2,543	1,860
Accumulated other comprehensive loss (related party: 2023 – $(427) and 2022 – $(167))	(8,079)	(7,321)
Related Party
Assets
AFS securities allowance for credit losses	1	1
Available-for-sale securities	14,578	10,440
Equity securities, at fair value	304	279
Short-term Investments	949	0
Other investments	327	303
Investment funds	1,043	959
Accrued investment income (related party: 2023 – $161 and 2022 – $105)	161	105
Other assets (related party: 2023 – $184 and 2022 – $161)	184	161
Trading securities, at fair value	871	878
Mortgage loans, net of allowances	1,234	1,302
Investment funds	1,604	1,569
Liabilities and Equity
Interest sensitive contract liabilities	9,055	11,889
Future policy benefits	3	1,353
Liability	183	195
Other liabilities	606	564
Accumulated other comprehensive loss (related party: 2023 – $(427) and 2022 – $(167))	(427)	(167)
Consolidated Entity, excluding Affiliated Entity
Assets
AFS securities allowance for credit losses	578	458
Available-for-sale securities	136,316	120,982
Short-term Investments	527	2,160
Other investments	947	773
Trading securities, at fair value	1,592	1,595
Mortgage loans, net of allowances	37,978	27,454
Investment funds	124	79
Consolidated Entity, Affiliated Entity and VIE Primary Beneficiary
Assets
Other investments	79	73
Trading securities, at fair value	693	0
Mortgage loans, net of allowances	336	342
Investment funds	14,594	10,068
Liabilities and Equity
Other liabilities	584	292
Fair Value
Assets
Short-term Investments		1,640
Liabilities and Equity
Interest sensitive contract liabilities	126,779	111,608
Fair Value | Related Party
Assets
Short-term Investments	949
Investment funds	561	610
Fair Value | Consolidated Entity, excluding Affiliated Entity
Assets
Other investments	45	162
Investment funds	124	79
Recurring | Fair Value
Assets
Reinsurance recoverable (portion at fair value: 2023 – $1,301 and 2022 – $1,388)	1,301	1,388
Other assets (related party: 2023 – $184 and 2022 – $161)	431
Liabilities and Equity
Interest sensitive contract liabilities	8,084	6,670
Future policy benefits	1,651	1,712
Liability	3,021	2,970
Recurring | Fair Value | Related Party
Assets
Equity securities, at fair value	304	279
Embedded derivative assets, fair value	(972)	(1,425)
Other investments	327	303
Reinsurance recoverable (portion at fair value: 2023 – $1,301 and 2022 – $1,388)		1,388
Trading securities, at fair value	871	878
Mortgage loans, net of allowances	1,234	1,302
Investment funds	1,043	959
Recurring | Fair Value | Consolidated Entity, excluding Affiliated Entity
Assets
Equity securities, at fair value	916	1,087
Embedded derivative assets, fair value	(4,981)	(4,847)
Short-term Investments	527	520
Other investments	763	611
Trading securities, at fair value	1,592	1,595
Mortgage loans, net of allowances	$ 37,978	$ 27,454

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues
Premiums Earned, Net	$ 26	$ 3,045	$ 9,163	$ 10,769
Insurance Commissions and Fees	217	184	622	525
Net Investment Income	2,928	1,843	8,052	5,252
Investment related gains (losses)	(2,624)	(2,848)	(1,193)	(12,811)
Other Income	564	(26)	584	(38)
Total revenues	1,436	2,310	18,182	3,836
Benefits and expenses
Interest sensitive contract benefits	333	171	3,634	(581)
Future policy and other policy benefits	368	3,270	10,346	11,230
Market risk benefits remeasurement (gains) losses	(441)	(458)	(166)	(1,689)
Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired	211	112	502	318
Policy and other operating expenses	472	388	1,359	1,083
Total benefits and expenses	943	3,483	15,675	10,361
Income (loss) before income taxes	493	(1,173)	2,507	(6,525)
Income tax expense (benefit)	162	(121)	458	(783)
Net income (loss)	331	(1,052)	2,049	(5,742)
Less: Net income (loss) attributable to noncontrolling interests	(155)	(465)	354	(2,435)
Net income (loss) attributable to Athene Holding Ltd. shareholders	486	(587)	1,695	(3,307)
Less: Preferred stock dividends	44	35	136	105
Net income (loss) available to Athene Holding Ltd. common shareholder	442	(622)	1,559	(3,412)
Variable Interest Entities
Revenues
Net Investment Income	75	33	210	80
Investment related gains (losses)	250	79	744	59
Consolidated Entity Excluding Variable Interest Entities (VIE)
Revenues
Net Investment Income	2,928	1,843	8,052	5,252
Investment related gains (losses)	$ (2,624)	$ (2,848)	$ (1,193)	$ (12,811)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Income (Loss) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Premiums earned	$ 26	$ 3,045	$ 9,163	$ 10,769
Product charges	217	184	622	525
Net Investment Income	2,928	1,843	8,052	5,252
Investment expense	286	202	759	582
Investment gains (losses), net of offsets	(2,624)	(2,848)	(1,193)	(12,811)
Other Income	564	(26)	584	(38)
Interest sensitive contract benefits	333	171	3,634	(581)
Future policy and other policy benefits	368	3,270	10,346	11,230
Remeasurement (gains) losses	(30)	5	(36)	(5)
Market risk benefits remeasurement (gains) losses	441	458	166	1,689
Policy and other operating expenses	472	388	1,359	1,083
Related Party
Premiums earned	3	61	11	208
Product charges	10	11	30	31
Net Investment Income	405	234	1,195	959
Investment expense	249	195	703	563
Investment gains (losses), net of offsets	(187)	(541)	(168)	(1,751)
Other Income	563	(18)	563	0
Interest sensitive contract benefits	14	13	118	(35)
Future policy and other policy benefits	4	71	39	227
Market risk benefits remeasurement (gains) losses	47		17	128
Market risk benefits remeasurement (gains) losses		(34)
Policy and other operating expenses	34	77	95	195
Consolidated Entity, Affiliated Entity and VIE Primary Beneficiary
Net Investment Income	18	13	45	15
Investment gains (losses), net of offsets	$ 305	$ 171	$ 840	$ 230

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 331	$ (1,052)	$ 2,049	$ (5,742)
Other comprehensive income (loss), before tax
Unrealized investment gains (losses) on available-for-sale securities	(3,155)	(5,928)	(1,767)	(20,178)
Unrealized gains (losses) on hedging instruments	(213)	(80)	(280)	(128)
Remeasurement gains (losses) on future policy benefits related to discount rate	1,317	2,374	1,328	8,833
Remeasurement gains (losses) on market risk benefits related to credit risk	(254)	(52)	(220)	524
Foreign currency translation and other adjustments	(21)	9	6	(72)
Other Comprehensive Income (Loss), before Tax, Total	(2,326)	(3,677)	(933)	(11,021)
Income tax expense (benefit) related to other comprehensive income (loss)	(476)	(727)	(175)	(2,220)
Other comprehensive income (loss)	(1,850)	(2,950)	(758)	(8,801)
Comprehensive income (loss)	(1,519)	(4,002)	1,291	(14,543)
Less: Comprehensive income (loss) attributable to noncontrolling interests	(299)	(640)	357	(2,763)
Comprehensive income (loss) attributable to Athene Holding Ltd. shareholders	$ (1,220)	$ (3,362)	$ 934	$ (11,780)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity - USD ($) $ in Millions	Total	Preferred stock	Common stock	Additional paid-in capital	Retained deficit	Accumulated other comprehensive income (loss)	Total Athene Holding Ltd. shareholders’ equity	Noncontrolling interests
Beginning Balance at Jan. 01, 2022	$ 22,546	$ 0	$ 0	$ 20,270	$ 0	$ 0	$ 20,270	$ 2,276
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(5,742)				(3,307)		(3,307)	(2,435)
Other comprehensive income (loss)	(8,801)					(8,473)	(8,473)	(328)
Stock-based compensation allocation from parent	37			37			37
Preferred stock dividends	(105)				(105)		(105)
Common stock dividends	(563)				(563)		(563)
Contributions from parent	26			26			26
Distributions to parent	(2,752)			(2,726)	(26)		(2,752)
Contributions from noncontrolling interests	1,047							1,047
Distributions to noncontrolling interests								0
Contributions from noncontrolling interests of consolidated variable interest entities and other	1,028							1,028
Other changes in equity of noncontrolling interests	(84)							(84)
Ending Balance at Sep. 30, 2022	6,637	0	0	17,607	(4,001)	(8,473)	5,133	1,504
Beginning Balance at Jun. 30, 2022	9,758	0	0	17,586	(3,191)	(5,698)	8,697	1,061
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(1,052)				(587)		(587)	(465)
Other comprehensive income (loss)	(2,950)					(2,775)	(2,775)	(175)
Stock-based compensation allocation from parent	14			14			14
Preferred stock dividends	(35)				(35)		(35)
Common stock dividends	(188)				(188)		(188)
Contributions from parent	7			7			7
Contributions from noncontrolling interests	336							336
Distributions to noncontrolling interests								0
Contributions from noncontrolling interests of consolidated variable interest entities and other	747							747
Ending Balance at Sep. 30, 2022	6,637	0	0	17,607	(4,001)	(8,473)	5,133	1,504
Beginning Balance at Dec. 31, 2022	10,549	0	0	18,119	(3,640)	(7,321)	7,158	3,391
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	2,049				1,695		1,695	354
Other comprehensive income (loss)	(758)					(761)	(761)	3
Stock-based compensation allocation from parent	36			36			36
Preferred stock dividends	(136)				(136)		(136)
Common stock dividends	(750)				(750)		(750)
Contributions from parent	1,282			1,282			1,282
Contributions from noncontrolling interests	325							325
Distributions to noncontrolling interests	(381)							(381)
Contributions from noncontrolling interests of consolidated variable interest entities and other	1,215							1,215
Subsidiary issuance of equity interests and other	598			10		3	13	585
Ending Balance at Sep. 30, 2023	14,029	0	0	19,447	(2,831)	(8,079)	8,537	5,492
Beginning Balance at Jun. 30, 2023	13,234	0	0	18,162	(3,085)	(6,376)	8,701	4,533
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	331				486		486	(155)
Other comprehensive income (loss)	(1,850)					(1,706)	(1,706)	(144)
Stock-based compensation allocation from parent	13			13			13
Preferred stock dividends	(44)				(44)		(44)
Common stock dividends	(188)				(188)		(188)
Contributions from parent	1,262			1,262			1,262
Contributions from noncontrolling interests	325							325
Distributions to noncontrolling interests	(254)							(254)
Contributions from noncontrolling interests of consolidated variable interest entities and other	602							602
Subsidiary issuance of equity interests and other	598			10		3	13	585
Ending Balance at Sep. 30, 2023	$ 14,029	$ 0	$ 0	$ 19,447	$ (2,831)	$ (8,079)	$ 8,537	$ 5,492

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities
Net income (loss)		$ 2,049	$ (5,742)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired		502	318
Net amortization of net investment premiums, discounts and other		70	234
Gain on recapture of reinsurance agreements, net of cash received		(489)	0
Net investment (income) loss (related party: 2023 – $(51) and 2022 – $(119))		(76)	(311)
Net recognized (gains) losses on investments and derivatives (related party: 2023 – $(767) and 2022 – $427)		(325)	(5,957)
Policy acquisition costs deferred		(1,040)	(750)
Changes in operating assets and liabilities:
Accrued investment income (related party: 2023 – $(59) and 2022 – $(20))		(436)	(264)
Interest sensitive contract liabilities (related party: 2023 – $88 and 2022 – $(67))		1,485	(2,052)
Future policy benefits, market risk benefits and reinsurance recoverable (related party: 2023 – $(338) and 2022 – $11)		2,917	3,837
Funds withheld assets (related party: 2023 – $(114) and 2022 – $1,389)		(1,990)	6,118
Other assets and liabilities		387	(1,268)
Net cash provided by operating activities		3,704	6,077
Sales, maturities and repayments of:
Available-for-sale securities (related party: 2023 – $1,153 and 2022 – $3,657)		9,145	16,858
Trading securities (related party: 2023 – $21 and 2022 – $79)		234	167
Equity securities		110	152
Mortgage loans (related party: 2023 – $24 and 2022 – $36)		3,093	2,695
Investment funds (related party: 2023 – $285 and 2022 – $1,733)		339	1,971
Derivative instruments and other investments (related party: 2023 – $0 and 2022 – $160)		4,221	2,739
Short-term investments (related party: 2023 – $967 and 2022 – $0)		3,195	172
Purchases of:
Available-for-sale securities (related party: 2023 – $(4,102) and 2022 – $(3,008))		(24,568)	(28,050)
Trading securities (related party: 2023 – $(827) and 2022 – $(156))		(1,053)	(874)
Equity securities (related party: 2023 – $0 and 2022 – $(208))		(70)	(406)
Mortgage loans (related party: 2023 – $0 and 2022 – $(364))		(14,398)	(9,824)
Investment funds (related party: 2023 – $(1,884) and 2022 – $(5,243))		(2,009)	(6,204)
Derivative instruments and other investments (related party: 2023 – $(46) and 2022 – $(226))		(5,242)	(2,235)
Short-term investments (related party: 2023 – $(1,858) and 2022 – $(33))		(2,392)	(384)
Consolidation of new variable interest entities		3	393
Deconsolidation of previously consolidated entities		(51)	(377)
Other investing activities, net		443	869
Net cash used in investing activities		(29,000)	(22,338)
Cash flows from financing activities
Proceeds from Contributions from Parent		1,250	0
Deposits on investment-type policies and contracts (related party: 2023 – $6 and 2022 – $55)		35,168	23,329
Withdrawals on investment-type policies and contracts (related party: 2023 – $(304) and 2022 – $(253))		(10,229)	(7,903)
Payments for (Proceeds from) Derivative Instrument, Financing Activities		945	(22)
Payments of Ordinary Dividends, Preferred Stock and Preference Stock		(136)	(105)
Payments of Ordinary Dividends, Common Stock		(750)	(1,313)
Other financing activities, net		(318)	1,347
Net cash provided by financing activities		27,891	17,115
Effect of exchange rate changes on cash and cash equivalents		2	(18)
Net increase in cash and cash equivalents		2,597	836
Cash and cash equivalents at beginning of year	[1]	8,769	10,429
Cash and cash equivalents at end of period	[1]	11,366	11,265
Non-cash transactions
Deposits on investment-type policies and contracts through reinsurance agreements (related party: 2023 – $16 and 2022 – $221)		78	808
Withdrawals on investment-type policies and contracts through reinsurance agreements (related party: 2023 – $1,239 and 2022 – $1,085)		10,212	6,190
Reduction in investments relating to recapture of reinsurance agreements		482	0
Apollo Aligned Alternatives, L.P.
Non-cash transactions
Assets contributed to consolidated VIEs		0	8,007
Related Party
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Net investment (income) loss (related party: 2023 – $(51) and 2022 – $(119))		(51)	(119)
Net recognized (gains) losses on investments and derivatives (related party: 2023 – $(767) and 2022 – $427)		767	(427)
Changes in operating assets and liabilities:
Accrued investment income (related party: 2023 – $(59) and 2022 – $(20))		(59)	(20)
Interest sensitive contract liabilities (related party: 2023 – $88 and 2022 – $(67))		88	(67)
Future policy benefits, market risk benefits and reinsurance recoverable (related party: 2023 – $(338) and 2022 – $11)		(338)	11
Funds withheld assets (related party: 2023 – $(114) and 2022 – $1,389)		(114)	1,389
Sales, maturities and repayments of:
Available-for-sale securities (related party: 2023 – $1,153 and 2022 – $3,657)		1,153	3,657
Trading securities (related party: 2023 – $21 and 2022 – $79)		21	79
Mortgage loans (related party: 2023 – $24 and 2022 – $36)		24	36
Investment funds (related party: 2023 – $285 and 2022 – $1,733)		285	1,733
Derivative instruments and other investments (related party: 2023 – $0 and 2022 – $160)		0	160
Short-term investments (related party: 2023 – $967 and 2022 – $0)		967	0
Purchases of:
Available-for-sale securities (related party: 2023 – $(4,102) and 2022 – $(3,008))		(4,102)	(3,008)
Trading securities (related party: 2023 – $(827) and 2022 – $(156))		(827)	(156)
Mortgage loans (related party: 2023 – $0 and 2022 – $(364))		0	(364)
Investment funds (related party: 2023 – $(1,884) and 2022 – $(5,243))		(1,884)	(5,243)
Derivative instruments and other investments (related party: 2023 – $(46) and 2022 – $(226))		(46)	(226)
Short-term investments (related party: 2023 – $(1,858) and 2022 – $(33))		(1,858)	(33)
Cash flows from financing activities
Deposits on investment-type policies and contracts (related party: 2023 – $6 and 2022 – $55)		6	55
Withdrawals on investment-type policies and contracts (related party: 2023 – $(304) and 2022 – $(253))		(304)	(253)
Non-cash transactions
Deposits on investment-type policies and contracts through reinsurance agreements (related party: 2023 – $16 and 2022 – $221)		16	221
Withdrawals on investment-type policies and contracts through reinsurance agreements (related party: 2023 – $1,239 and 2022 – $1,085)		1,239	1,085
Variable Interest Entities
Cash flows from financing activities
Capital contributions from noncontrolling interests		1,385	735
Consolidated Entity, excluding VIE Primary Beneficiary
Cash flows from financing activities
Capital contributions from noncontrolling interests		325	1,047
Capital distributions to noncontrolling interests		(381)	0
Proceeds from subsidiary issuance of equity interests to noncontrolling interests		632	0
Reinsurance Settlements
Non-cash transactions
Transfer to Investments		99	36
Reinsurance Settlements | Related Party
Non-cash transactions
Transfer to Investments		65	0
Pension Risk Transfer Premiums
Non-cash transactions
Transfer to Investments		4,776	3,812
Dividend Declared
Non-cash transactions
Payments of Distributions to Affiliates		$ 0	$ 2,145
[1] 1 Includes cash and cash equivalents, restricted cash and cash and cash equivalents of consolidated variable interest entities.

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Deposits on investment-type policies and contracts	$ 35,168	$ 23,329
Repayments of Annuities and Investment Certificates	(10,229)	(7,903)
Deposits on investment-type policies and contracts through reinsurance agreements	78	808
Withdrawals on investment-type policies and contracts through reinsurance agreements	10,212	6,190
Payments of Ordinary Dividends, Common Stock	750	1,313
Net investment (income) loss (related party: 2023 – $(51) and 2022 – $(119))	(76)	(311)
Net recognized (gains) losses on investments and derivatives	325	5,957
Accrued investment income	(436)	(264)
Interest sensitive contract liabilities (related party: 2023 – $88 and 2022 – $(67))	1,485	(2,052)
Future policy benefits, market risk benefits and reinsurance recoverable (related party: 2023 – $(338) and 2022 – $11)	2,917	3,837
Funds withheld assets	(1,990)	6,118
Sales, maturities and repayments of:
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale	9,145	16,858
Trading securities (related party: 2023 – $21 and 2022 – $79)	234	167
Mortgage loans (related party: 2023 – $24 and 2022 – $36)	3,093	2,695
Investment funds (related party: 2023 – $285 and 2022 – $1,733)	339	1,971
Derivative instruments and other investments (related party: 2023 – $0 and 2022 – $160)	4,221	2,739
Short-term investments	3,195	172
Purchases of:
Payments to Acquire Debt Securities, Available-for-sale	(24,568)	(28,050)
Mortgage loans (related party: 2023 – $0 and 2022 – $(364))	(14,398)	(9,824)
Trading securities	(1,053)	(874)
Investment funds	(2,009)	(6,204)
Derivative instruments and other investments (related party: 2023 – $(46) and 2022 – $(226))	(5,242)	(2,235)
Short-term investments	(2,392)	(384)
Related Party
Deposits on investment-type policies and contracts	6	55
Repayments of Annuities and Investment Certificates	(304)	(253)
Deposits on investment-type policies and contracts through reinsurance agreements	16	221
Withdrawals on investment-type policies and contracts through reinsurance agreements	1,239	1,085
Net investment (income) loss (related party: 2023 – $(51) and 2022 – $(119))	(51)	(119)
Net recognized (gains) losses on investments and derivatives	(767)	427
Accrued investment income	(59)	(20)
Interest sensitive contract liabilities (related party: 2023 – $88 and 2022 – $(67))	88	(67)
Future policy benefits, market risk benefits and reinsurance recoverable (related party: 2023 – $(338) and 2022 – $11)	(338)	11
Funds withheld assets	(114)	1,389
Sales, maturities and repayments of:
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale	1,153	3,657
Trading securities (related party: 2023 – $21 and 2022 – $79)	21	79
Mortgage loans (related party: 2023 – $24 and 2022 – $36)	24	36
Investment funds (related party: 2023 – $285 and 2022 – $1,733)	285	1,733
Derivative instruments and other investments (related party: 2023 – $0 and 2022 – $160)	0	160
Short-term investments	967	0
Purchases of:
Payments to Acquire Debt Securities, Available-for-sale	(4,102)	(3,008)
Mortgage loans (related party: 2023 – $0 and 2022 – $(364))	0	(364)
Trading securities	(827)	(156)
Investment funds	(1,884)	(5,243)
Derivative instruments and other investments (related party: 2023 – $(46) and 2022 – $(226))	(46)	(226)
Short-term investments	(1,858)	(33)
Equity securities | Related Party
Purchases of:
Equity securities	$ 0	$ (208)

Business, Basis of Presentation

Business, Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Business, Basis of Presentation, and Significant Accounting Policies	1. Business, Basis of Presentation and Significant Accounting Policies Athene Holding Ltd. (AHL), a Bermuda exempted company, together with its subsidiaries (collectively, Athene, we, our, us, or the Company), is a leading financial services company that specializes in issuing, reinsuring and acquiring retirement savings products in the United States (US) and internationally. We are a direct subsidiary of Apollo Global Management, Inc. (AGM, and together with its subsidiaries other than us or our subsidiaries, Apollo). See Note 3 – Business Combination for further information regarding our merger with Apollo. We conduct business primarily through the following consolidated subsidiaries: • Our non-US reinsurance subsidiaries, to which AHL’s other insurance subsidiaries and third-party ceding companies directly and indirectly reinsure a portion of their liabilities, including Athene Life Re Ltd. (ALRe), a Bermuda exempted company, Athene Annuity Re Ltd. (AARe) and Athene Life Re International Ltd. (ALReI); and • Athene USA Corporation, an Iowa corporation (together with its subsidiaries, AUSA). In addition, we consolidate certain variable interest entities (VIEs) for which we have determined we are the primary beneficiary. See Note 6 – Variable Interest Entities for further information on VIEs. Consolidation and Basis of Presentation —We have prepared the accompanying condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (US GAAP) for interim financial information and the United States Securities and Exchange Commission’s rules and regulations for Form 10-Q and Article 10 of Regulation S-X. The accompanying condensed consolidated financial statements are unaudited and reflect all adjustments, consisting only of normal recurring items, considered necessary for fair statement of the results for the interim periods presented. All intercompany accounts and transactions have been eliminated. Interim operating results are not necessarily indicative of the results expected for the entire year. For entities that are consolidated, but not wholly owned, we allocate a portion of the income or loss and corresponding equity to the owners other than us. We include the aggregate of the income or loss and corresponding equity that is not owned by us in noncontrolling interests in the condensed consolidated financial statements. The condensed consolidated balance sheet as of December 31, 2022 has been derived from the audited financial statements, with necessary unaudited adjustments made for the implementation of targeted improvements to the accounting for long-duration contracts, and does not include all of the information and footnotes required by US GAAP for complete financial statements. Therefore, these condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022. The preparation of financial statements requires the use of management estimates. Actual results may differ from estimates used in preparing the condensed consolidated financial statements. Significant Accounting Policies Reinsurance —We assume and cede insurance and investment contracts under coinsurance, funds withheld coinsurance (funds withheld) and modified coinsurance (modco). We follow reinsurance accounting for transactions that provide indemnification against loss or liability relating to insurance risk (risk transfer). To meet risk transfer requirements, a reinsurance agreement must transfer insurance risk arising from uncertainties about both underwriting and timing risks. Cessions under reinsurance do not discharge our obligations as the primary insurer unless the requirements of assumption reinsurance have been met. We generally have the right of offset on reinsurance contracts, but have elected to present reinsurance settlement amounts due to and from us on a gross basis. For assets and liabilities ceded under reinsurance agreements, we generally apply the same measurement guidance for our directly issued or assumed contracts. Ceded amounts are recorded within reinsurance recoverable on the condensed consolidated balance sheets. For reinsurance of in-force contracts that pass risk transfer, the issue year used for the purpose of measuring the reinsurance recoverable is dependent on the effective date of the reinsurance agreement, which may differ from the issue year for the direct or assumed contract. The issue year informs the locked-in discount rate used for the purposes of interest accretion. This may result in different discount rates used for the direct or assumed reserves and ceded reserves when reinsuring an in-force block of insurance contracts. For flow reinsurance of insurance contracts that pass risk transfer, the contracts have the same cash flow assumptions as the direct or assumed contracts when the terms are consistent between those respective contracts and the ceded reinsurance agreement. When we recognize an immediate loss due to the present value of future benefits and expenses exceeding the present value of future gross premiums, a gain is recognized on the corresponding reinsurance recoverable to the extent it does not result in gain recognition at treaty inception. Likewise, where the direct or assumed reserve has been floored to zero, the corresponding reinsurance recoverable will be consistently set to zero. See – Future Policy Benefits below for further information. Accounting for reinsurance requires the use of assumptions, particularly related to the future performance of the underlying business and the potential impact of counterparty credit risks. We attempt to minimize our counterparty credit risk through the structuring of the terms of our reinsurance agreements, including the use of trusts, and monitor credit ratings of counterparties for signs of declining credit quality. When a ceding company does not report information on a timely basis, we record accruals based on the best available information at the time, which includes the reinsurance agreement terms and historical experience. We periodically compare actual and anticipated experience to the assumptions used to establish reinsurance assets and liabilities. Assets and liabilities assumed or ceded under coinsurance, funds withheld or modco are presented gross on the condensed consolidated balance sheets. For investment contracts, the change in the direct or assumed and ceded reserves are presented net in interest sensitive contract benefits on the condensed consolidated statements of income (loss). For insurance contracts, the change in the direct or assumed and ceded reserves and benefits are presented net in future policy and other policy benefits on the condensed consolidated statements of income (loss), except for changes related to the discount rate which are presented net in other comprehensive income (loss) (OCI) on the condensed consolidated statements of comprehensive income (loss). For market risk benefits, the change in the direct or assumed and ceded reserves are presented net in market risk benefits remeasurement (gains) losses on the condensed consolidated statements of income (loss), except for changes related to instrument-specific credit risk on direct and assumed contracts which are presented net in OCI on the condensed consolidated statements of comprehensive income (loss). For the reinsurance of existing in-force blocks that transfer significant insurance risk, the difference between the assets received or paid and the liabilities assumed or ceded represents the net cost of reinsurance at the inception of the reinsurance agreement. The net cost of reinsurance is amortized on a basis consistent with the methodologies and assumptions used to amortize deferred acquisition costs (DAC) and deferred sales inducements (DSI). Deferred Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired Deferred Acquisition Costs and Deferred Sales Inducements – Costs related directly to the successful acquisition of new, or the renewal of existing, insurance or investment contracts are deferred. These costs consist of commissions and policy issuance costs, as well as sales inducements credited to policyholder account balances, and are included in deferred acquisition costs, deferred sales inducements and value of business acquired on the condensed consolidated balance sheets. These costs are not capitalized until they are incurred. Deferred costs related to universal life-type policies and investment contracts with significant revenue streams from sources other than investment of the policyholder funds are grouped into cohorts based on issue year and contract type and amortized on a constant level basis over the expected term of the related contracts. The cohorts and assumptions used for the amortization of deferred costs are consistent with those used in estimating the related liabilities for these contracts. The constant level basis generally is the initial premium or deposit and is projected based on assumptions related to policyholder behavior, including lapses and mortality, over the expected term of the contracts. Each reporting period, we replace expected experience with actual experience to determine the related amortization expense. Changes to projected experience are recognized in amortization expense prospectively over the remaining contract term. Amortization of DAC and DSI is included in amortization of deferred acquisition costs, deferred sales inducements and value of business acquired on the condensed consolidated statements of income (loss). Deferred costs related to investment contracts without significant revenue streams from sources other than investment of the policyholder funds are amortized using the effective interest method. The effective interest method amortizes the deferred costs by discounting the future liability cash flows at a break-even rate. The break-even rate is solved for such that the present value of future liability cash flows is equal to the net liability at the inception of the contract. The deferred costs represent the difference between the net and gross liability and the change relates to amortization for the period. Value of Business Acquired (VOBA) – We establish VOBA for blocks of insurance contracts acquired through the acquisition of insurance entities and through application of pushdown accounting related to our merger with AGM. We record the fair value of the liabilities assumed in two components: reserves and VOBA. Reserves are established using our best estimate assumptions as of the business combination date. VOBA is the difference between the fair value of the liabilities and the reserves. VOBA can be either positive or negative and is amortized in relation to respective policyholder liabilities. Significant assumptions that impact VOBA amortization are consistent with those that impact the measurement of policyholder liabilities. We perform periodic tests to determine if positive VOBA remains recoverable. If we determine that positive VOBA is not recoverable, we would record a cumulative charge to the current period. Any negative VOBA is recorded to the same financial statement line on the condensed consolidated balance sheets as the associated reserves. Positive VOBA is recorded in deferred acquisition costs, deferred sales inducements and value of business acquired on the condensed consolidated balance sheets. See Note 8 – Deferred Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired for further information. Interest Sensitive Contract Liabilities —Universal life-type policies and investment contracts include traditional deferred annuities, indexed annuities consisting of fixed indexed and index-linked variable annuities in the accumulation phase, funding agreements, immediate annuities without significant mortality risk (which include pension group annuities without life contingencies), universal life insurance, and other investment contracts inclusive of assumed endowments without significant mortality risk. We carry liabilities for traditional deferred annuities, indexed annuities, funding agreements and universal life insurance at the account balances without reduction for potential surrender or withdrawal charges, except for a block of universal life business ceded to Global Atlantic Financial Group Limited (together with its subsidiaries, Global Atlantic), which we carry at fair value. Liabilities for immediate annuities without significant mortality risk are calculated as the present value of future liability cash flows and policy maintenance expenses discounted at contractual interest rates. Certain of our contracts are offered with additional contract features that meet the definition of a market risk benefit. See – Market Risk Benefits below for further information. Unearned revenue liabilities are established when amounts are assessed against the policyholder for services to be provided in future periods. These balances are amortized consistent with the methodologies and assumptions used to amortize DAC and DSI. Changes in interest sensitive contract liabilities, excluding deposits and withdrawals, are recorded in interest sensitive contract benefits or product charges on the condensed consolidated statements of income (loss). Interest sensitive contract liabilities are not reduced for amounts ceded under reinsurance agreements which are reported as reinsurance recoverable on the condensed consolidated balance sheets. Future Policy Benefits —We issue contracts classified as long-duration, which include term and whole life, accident and health, disability, and immediate annuities with life contingencies (which include pension group annuities with life contingencies). Liabilities for nonparticipating long-duration contracts are established as the estimated present value of benefits we expect to pay to or on behalf of the policyholder and related expenses less the present value of the net premiums to be collected, referred to as the net premium ratio. The contracts are grouped into cohorts based on issue year and contract type, with an exception for pension group annuities, which are generally assessed at the group annuity contract level. Contracts with different issuance years are not combined. Contracts acquired in a business combination are grouped into a single cohort by contract type, except for pension group annuities, which follow the group annuity contract level. Liabilities for nonparticipating long-duration contracts are established using accepted actuarial valuation methods which require the use of assumptions related to discount rate, expenses, longevity, mortality, morbidity, persistency and other policyholder behavior. We base certain key assumptions, such as longevity, mortality and morbidity, on industry standard data adjusted to align with actual company experience, if needed. We have elected to use expense assumptions that are locked in at issuance for each cohort. All other cash flow assumptions are established at contract issuance and reviewed annually or more frequently if actual experience suggests a revision is necessary. The effects of changes in cash flow assumptions impacting the net premium ratio are recorded as remeasurement changes in the period in which they are made. As cash flow assumptions are reviewed at least annually, there is no provision for adverse deviation included within the liability. Actual experience is recognized in the period in which the experience arises. Actual experience is then incorporated into the net premium ratio for all products and cohorts on a quarterly basis. When the net premium ratio is revised, whether to incorporate actual experience each reporting period or for the review of cash flow assumptions, the liability is recalculated as of the beginning of the period, discounted at the original contract issuance discount rate, and compared with the carrying amount of the liability as of the same date to determine the current period change. The current period change in the liability is recognized as a remeasurement gain or loss. To the extent the present value of benefits and expenses exceeds the present value of gross premiums, we will cap the net premium ratio at 100% by increasing the corresponding liability and recognizing an immediate loss through the condensed consolidated statements of income (loss). The liability is never recorded at an amount less than zero for the cohort. The liability for nonparticipating long-duration contracts is discounted using an upper-medium grade fixed income instrument yield aligned to the duration of the liability. In determining reference portfolio of instruments, we have used a single A equivalent level rate and maximized the use of observable data to the extent possible for the duration of our liabilities. The discount rate is required to be updated at the end of each reporting period for the remeasurement of the liability but is locked-in for each cohort for the purpose of interest accretion expense. Changes in the value of the liability for nonparticipating long-duration contracts due to changes in the discount rate are recognized as a component of OCI on the condensed consolidated statements of comprehensive income (loss). The change in the liability for the remeasurement gain or loss and all other changes in the liability are recorded in future policy and other policy benefits on the condensed consolidated statements of income (loss). Future policy benefits include liabilities for no-lapse guarantees on universal life insurance and fixed indexed universal life insurance that do not meet the criteria to be classified and accounted for as a market risk benefit. We establish future policy benefits for no-lapse guarantees by estimating the expected value of death benefits paid after policyholder account balances have been exhausted. We recognize these benefits proportionally over the life of the contracts based on total actual and expected assessments. The methods we use to estimate the liabilities have assumptions about policyholder behavior, mortality, expected yield on investments supporting the liability and market conditions affecting policyholder account balance growth. For the liabilities associated with no-lapse guarantees, each reporting period we update expected excess benefits and assessments with actual excess benefits and assessments and adjust the liability balances due to the OCI effects of unrealized investment gains and losses on available-for-sale (AFS) securities. We also periodically revise the key assumptions used in the calculation of the liabilities that result in revisions to the expected excess benefits and assessments. The effects of changes in assumptions are recorded as unlocking in the period in which the changes are made. Changes in the liabilities associated with no-lapse guarantees, other than the adjustment for the OCI effects of unrealized investment gains and losses on AFS securities, are recorded in future policy and other policy benefits on the condensed consolidated statements of income (loss). Future policy benefits are not reduced for amounts ceded under reinsurance agreements which are reported as reinsurance recoverable on the condensed consolidated balance sheets. Market Risk Benefits —Market risk benefits represent contracts or contract features that both provide protection to the contract holder from, and expose the insurance entity to, other-than-nominal capital market risk. We issue and reinsure deferred annuity contracts which contain guaranteed lifetime withdrawal benefits (GLWB) and guaranteed minimum death benefit (GMDB) riders that meet the criteria for, and are classified as, market risk benefits. Market risk benefits are measured at fair value at the contract level and may be recorded as a liability or an asset, which are included in market risk benefits or other assets, respectively, on the condensed consolidated balance sheets. Multiple market risk benefits on a contract are treated as a single, compound market risk benefit. At contract inception, we assess the fees and assessments that are collectible from the policyholder and allocate them to the extent they are attributable to the market risk benefit. These attributed fees are used in the valuation of the market risk benefits and are never negative or exceed total explicit fees collectible from the policyholder. If the fees are sufficient to cover the projected benefits, a non-option based valuation model is used. If the fees are insufficient to cover the projected benefits, an option-based valuation model is used to compute the market risk benefit liability at contract inception, with an equal and offsetting adjustment recognized in interest sensitive contract liabilities. Changes in fair value of market risk benefits are recorded in market risk benefits remeasurement (gains) losses on the condensed consolidated statements of income (loss), excluding portions attributed to changes in instrument-specific credit risk, which are recorded in OCI on the condensed consolidated statements of comprehensive income (loss). Market risk benefits are not reduced for market risk benefits ceded under reinsurance agreements. Ceded market risk benefits are measured at fair value and recorded within reinsurance recoverable on the condensed consolidated balance sheets. Upon annuitization of the contract or the extinguishment of the account balance, the market risk benefit, related annuity contract and unamortized deferred costs are derecognized, including amounts within AOCI. A payout annuity is then established for GLWBs. Recognition of Revenues and Related Expenses —Revenues for universal life-type policies and investment contracts, including surrender and market value adjustments, costs of insurance, policy administration, GMDB, GLWB and no-lapse guarantee charges, are earned when assessed against policyholder account balances during the period. Interest credited to policyholder account balances and the change in fair value of embedded derivatives within fixed indexed annuity contracts is included in interest sensitive contract benefits on the condensed consolidated statements of income (loss). Premiums for long-duration contracts, including products with fixed and guaranteed premiums and benefits, are recognized as revenue when due from policyholders. When premiums are due over a significantly shorter period than the period over which benefits are provided, such as immediate annuities with life contingencies (which includes pension group annuities), a deferred profit liability is established equal to the excess of the gross premium over the net premium. The deferred profit liability is recognized in future policy benefits on the condensed consolidated balance sheets and amortized into income in relation to applicable policyholder liabilities through future policy and other policy benefits on the condensed consolidated statements of income (loss). When the net premium ratio for the corresponding future policy benefit is updated for actual experience and changes to projected cash flow assumptions, the deferred profit liability is retrospectively recalculated from the contract issuance date through the beginning of the current reporting period. The revised deferred profit liability is compared to the beginning of the period carrying amount to determine the change to be recognized as a remeasurement gain or loss within future policy and other policy benefits on the condensed consolidated statements of income (loss). Unlike the related future policy benefit, the deferred profit liability will not be remeasured for changes in discount rates each reporting period. Negative VOBA balances associated with payout contracts involving life contingencies, including pension group annuities, are accounted for in a manner similar to the deferred profit liability. All insurance-related revenue is reported net of reinsurance ceded. Recently Issued Accounting Pronouncements Business Combinations – Joint Venture Formations (ASU 2023-05) The amendments in this update address how a joint venture initially recognizes and measures contributions received at its formation date. The amendments require a joint venture to apply a new basis of accounting upon formation and to initially recognize its assets and liabilities at fair value. The guidance is effective prospectively for all joint ventures formed on or after January 1, 2025, while retrospective application may be elected for a joint venture formed before the effective date. Early adoption is permitted. We are currently evaluating the impact of the new pronouncement. Investments – Equity Method and Joint Ventures (Accounting Standards Update (ASU) 2023-02) The amendments in this update introduce the option of applying the proportional amortization method (PAM) to account for investments made primarily for the purpose of receiving income tax credits or other income tax benefits when certain requirements are met. Currently, PAM only applies to low-income housing tax credit (LIHTC) investments. The guidance is effective for us on January 1, 2024; however, early adoption is permitted. We are currently evaluating the impact of the new pronouncement. Adopted Accounting Pronouncements Insurance – Targeted Improvements to the Accounting for Long-Duration Contracts (ASU 2020-11, ASU 2019-09, ASU 2018-12) These updates amend four key areas pertaining to the accounting and disclosures for long-duration insurance and investment contracts and are commonly referred to as long-duration targeted improvements (LDTI). • The update requires cash flow assumptions used to measure the liability for future policy benefits to be updated at least annually and no longer allows a provision for adverse deviation. The remeasurement of the liability associated with the update of assumptions is required to be recognized in net income. Loss recognition testing is eliminated for traditional and limited-payment contracts. The update also requires the discount rate used in measuring the liability to be an upper-medium grade fixed income instrument yield, which is to be updated at each reporting date. The change in liability due to changes in the discount rate is to be recognized in other comprehensive income. • The update simplifies the amortization of DAC and other balances amortized in proportion to premiums, gross profits or gross margins, requiring such balances to be amortized on a constant level basis over the expected term of the contracts. Deferred costs are required to be written off for unexpected contract terminations but are not subject to impairment testing. • The update requires certain contract features meeting the definition of market risk benefits to be measured at fair value. Among the features included in this definition are GLWB and GMDB riders attached to our annuity products. The change in fair value of the market risk benefits is to be recognized in net income, excluding the portion attributable to changes in instrument-specific credit risk which is recognized in other comprehensive income. • The update also introduces disclosure requirements around the liability for future policy benefits, policyholder account balances, market risk benefits, separate account liabilities and deferred acquisition costs. This includes disaggregated rollforwards of these balances and information about significant inputs, judgments, assumptions and methods used in their measurement. We adopted LDTI as of January 1, 2023 and, for all provisions of the update, applied a retrospective transition approach using a transition date of January 1, 2022, the date of our merger with AGM. At the merger date, VOBA balances were established as the difference between the fair value of the liabilities and the reserves established as of this date. Upon transition to LDTI, the liability for future policy benefits and contractual features that meet the criteria for market risk benefits were adjusted to conform to LDTI, with an offsetting adjustment made to positive or negative VOBA. No adjustments were recorded to AOCI or retained deficit as of the transition date. See Note 2 – Adoption of Accounting Pronouncement for the effects of LDTI adoption on our 2022 condensed consolidated financial statements. Reference Rate Reform (Topic 848) (Accounting Standards Update (ASU) 2022-06, ASU 2021-01, ASU 2020-04) We adopted ASU 2020-04 and ASU 2021-01 and elected to apply certain of the practical expedients related to contract modifications, hedge accounting relationships, and derivative modifications pertaining to discounting, margining, or contract price alignment. The main purpose of the practical expedients is to ease the administrative burden of accounting for contracts impacted by reference rate reform, and these elections did not have, and are not expected to have, a material impact on the consolidated financial statements. ASU 2022-06 amended and deferred the sunset date of Topic 848 from December 31, 2022, to December 31, 2024, after which we will no longer be permitted to apply the expedients provided in Topic 848. We will continue to evaluate the impact of reference rate reform on contract modifications and hedging relationships. Fair Value Measurement — Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (ASU 2022-03) This amendment clarifies guidance that a restriction that is a characteristic of the holding entity, rather than a characteristic of the equity security itself, should not be considered in its fair value measurement. As a result, we are required to measure the fair value of equity securities subject to contractual restrictions attributable to the holding entity on the basis of the market price of the same equity security without those contractual restrictions. Companies are not permitted to recognize a contractual sale restriction attributable to the holding entity as a separate unit of account. The guidance also requires disclosures for these equity securities. We early adopted this update effective July 1, 2023. The adoption of this update was applied on a prospective basis and did not have a material effect on our condensed consolidated financial statements.

Adoption of Accounting Pronounc

Adoption of Accounting Pronouncement	9 Months Ended
	Sep. 30, 2023
Accounting Changes and Error Corrections [Abstract]
Adoption of Accounting Pronouncement	2. Adoption of Accounting Pronouncement The following table summarizes future policy benefits and changes to the liability: (In millions) Traditional deferred annuities Indexed annuities Payout annuities Reconciling items 1 Total Balance as of January 1, 2022 $ 221 $ 5,389 $ 32,872 $ 8,632 $ 47,114 Change in discount rate assumptions — — 2,406 — 2,406 Adjustment for removal of balances related to market risk benefits (221) (5,389) — — (5,610) Adjustment for offsetting balance in negative VOBA 2 — — — (2,428) (2,428) Adjusted balance as of January 1, 2022 $ — $ — $ 35,278 $ 6,204 $ 41,482 1 Reconciling items primarily include negative VOBA associated with our liability for future policy benefits, as well as reserves for our immaterial lines of business including term and whole life, accident and health and disability, as well as other insurance benefit reserves for our no-lapse guarantees with universal life contracts, all of which are fully ceded. 2 Uneliminated adjustments were recorded to positive VOBA within deferred acquisition costs, deferred sales inducements and value of business acquired on the condensed consolidated balance sheets. Adjustments to the deferred profit liability were not required as these balances were set to zero on the merger date. Since the liability for future policy benefits was measured at fair value on the merger date, there were no instances upon transition in which net premiums exceeded gross premiums which would have required an immediate loss to be recognized in net income. The following table presents the net liability position of market risk benefits: (In millions) Traditional deferred annuities Indexed annuities Total Balance as of January 1, 2022 $ — $ — $ — Adjustment for addition of existing balances 1 221 5,389 5,610 Adjustment to positive VOBA due to fair value adjustment for market risk benefits 2 32 (1,165) (1,133) Adjustment to negative VOBA due to fair value adjustment for market risk benefits 3 — (30) (30) Adjusted balance as of January 1, 2022 $ 253 $ 4,194 $ 4,447 1 Previously recorded within future policy benefits on the condensed consolidated balance sheets. 2 Previously recorded within deferred acquisition costs, deferred sales inducements and value of business acquired on the condensed consolidated balance sheets. 3 Previously recorded within interest sensitive contract liabilities on the condensed consolidated balance sheets. The following table represents market risk benefits by asset and liability positions: (In millions) Asset 1 Liability Net liability Traditional deferred annuities $ — $ 253 $ 253 Indexed annuities 366 4,560 4,194 Adjusted balance as of January 1, 2022 $ 366 $ 4,813 $ 4,447 1 Included in other assets on the condensed consolidated balance sheets. The following table summarizes the change in deferred acquisition costs, deferred sales inducements and value of business acquired: (In millions) VOBA Balance as of January 1, 2022 $ 4,527 Change in discount rate assumptions for future policy benefits (22) Fair value adjustment of market risk benefits (1,133) Adjusted balance as of January 1, 2022 $ 3,372 The following represents the effects of LDTI adoption on the applicable financial statement lines of our condensed consolidated balance sheet: December 31, 2022 (In millions) Reported Adoption Adjusted Assets Reinsurance recoverable $ 4,367 $ (9) $ 4,358 Deferred acquisition costs, deferred sales inducements and value of business acquired 5,576 (1,110) 4,466 Other assets 9,690 (997) 8,693 Total assets $ 246,047 $ (2,116) $ 243,931 Liabilities and Equity Liabilities Interest sensitive contract liabilities $ 173,653 $ (37) $ 173,616 Future policy benefits 55,328 (13,218) 42,110 Market risk benefits — 2,970 2,970 Total liabilities 243,667 (10,285) 233,382 Equity Retained deficit (4,892) 1,252 (3,640) Accumulated other comprehensive income (loss) (12,311) 4,990 (7,321) Total Athene Holding Ltd. shareholders’ equity 916 6,242 7,158 Noncontrolling interests 1,464 1,927 3,391 Total equity 2,380 8,169 10,549 Total liabilities and equity $ 246,047 $ (2,116) $ 243,931 The following represents the effects of LDTI adoption on the applicable financial statement lines of our condensed consolidated statements of income (loss): Three months ended March 31, 2022 (In millions) Reported Adoption Adjusted Revenues Investment related gains (losses) $ (4,200) $ (12) $ (4,212) Total revenues (269) (12) (281) Benefits and expenses Interest sensitive contract benefits (41) (58) (99) Future policy and other policy benefits 2,085 99 2,184 Market risk benefits remeasurement (gains) losses — (622) (622) Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired 125 (27) 98 Policy and other operating expenses 335 3 338 Total benefits and expenses 2,504 (605) 1,899 Income (loss) before income taxes (2,773) 593 (2,180) Income tax expense (benefit) (407) 123 (284) Net income (loss) (2,366) 470 (1,896) Less: Net income (loss) attributable to noncontrolling interests (883) 2 (881) Net income (loss) attributable to Athene Holding Ltd. shareholders (1,483) 468 (1,015) Less: Preferred stock dividends 35 — 35 Net income (loss) available to Athene Holding Ltd. common shareholder $ (1,518) $ 468 $ (1,050) Six months ended June 30, 2022 (In millions) Reported Adoption Adjusted Revenues Total revenues $ 1,526 $ — $ 1,526 Benefits and expenses Interest sensitive contract benefits (662) (90) (752) Future policy and other policy benefits 7,694 266 7,960 Market risk benefits remeasurement (gains) losses — (1,231) (1,231) Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired 250 (44) 206 Policy and other operating expenses 693 2 695 Total benefits and expenses 7,975 (1,097) 6,878 Income (loss) before income taxes (6,449) 1,097 (5,352) Income tax expense (benefit) (891) 229 (662) Net income (loss) (5,558) 868 (4,690) Less: Net loss attributable to noncontrolling interests (1,955) (15) (1,970) Net income (loss) attributable to Athene Holding Ltd. shareholders (3,603) 883 (2,720) Less: Preferred stock dividends 70 — 70 Net income (loss) available to Athene Holding Ltd. common shareholder $ (3,673) $ 883 $ (2,790) Nine months ended September 30, 2022 (In millions) Reported Adoption Adjusted Revenues Investment related gains (losses) $ (12,812) $ 1 $ (12,811) Total revenues 3,835 1 3,836 Benefits and expenses Interest sensitive contract benefits (573) (8) (581) Future policy and other policy benefits 10,988 242 11,230 Market risk benefits remeasurement (gains) losses — (1,689) (1,689) Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired 375 (57) 318 Policy and other operating expenses 1,081 2 1,083 Total benefits and expenses 11,871 (1,510) 10,361 Income (loss) before income taxes (8,036) 1,511 (6,525) Income tax expense (benefit) (1,101) 318 (783) Net income (loss) (6,935) 1,193 (5,742) Less: Net income (loss) attributable to noncontrolling interests (2,431) (4) (2,435) Net income (loss) attributable to Athene Holding Ltd. shareholders (4,504) 1,197 (3,307) Less: Preferred stock dividends 105 — 105 Net income (loss) available to Athene Holding Ltd. common shareholder $ (4,609) $ 1,197 $ (3,412) Year ended December 31, 2022 (In millions) Reported Adoption Adjusted Revenues Total revenues $ 7,623 $ — $ 7,623 Benefits and expenses Interest sensitive contract benefits 541 (3) 538 Future policy and other policy benefits 12,310 155 12,465 Market risk benefits remeasurement (gains) losses — (1,657) (1,657) Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired 509 (65) 444 Policy and other operating expenses 1,493 2 1,495 Total benefits and expenses 14,853 (1,568) 13,285 Income (loss) before income taxes (7,230) 1,568 (5,662) Income tax expense (benefit) (976) 330 (646) Net income (loss) (6,254) 1,238 (5,016) Less: Net loss attributable to noncontrolling interests (2,092) (14) (2,106) Net income (loss) attributable to Athene Holding Ltd. shareholders (4,162) 1,252 (2,910) Less: Preferred stock dividends 141 — 141 Net income (loss) available to Athene Holding Ltd. common shareholder $ (4,303) $ 1,252 $ (3,051) The following represents the effects of LDTI adoption on the applicable financial statement lines of our condensed consolidated statements of comprehensive income (loss): Three months ended March 31, 2022 (In millions) Reported Adoption Adjusted Net income (loss) $ (2,366) $ 470 $ (1,896) Other comprehensive income (loss), before tax Unrealized investment gains (losses) on available-for-sale securities (6,430) (267) (6,697) Remeasurement gains (losses) on future policy benefits related to discount rate — 3,562 3,562 Remeasurement gains (losses) on market risk benefits related to credit risk — 397 397 Foreign currency translation and other adjustments 4 (6) (2) Other comprehensive income (loss), before tax (6,555) 3,686 (2,869) Income tax expense (benefit) related to other comprehensive income (loss) (1,170) 555 (615) Other comprehensive income (loss) (5,385) 3,131 (2,254) Comprehensive income (loss) (7,751) 3,601 (4,150) Less: Comprehensive income (loss) attributable to noncontrolling interests (1,594) 777 (817) Comprehensive income (loss) attributable to Athene Holding Ltd. shareholders $ (6,157) $ 2,824 $ (3,333) Six months ended June 30, 2022 (In millions) Reported Adoption Adjusted Net income (loss) $ (5,558) $ 868 $ (4,690) Other comprehensive income (loss), before tax Unrealized investment gains (losses) on available-for-sale securities (13,703) (547) (14,250) Remeasurement gains (losses) on future policy benefits related to discount rate — 6,459 6,459 Remeasurement gains (losses) on market risk benefits related to credit risk — 576 576 Foreign currency translation and other adjustments (54) (27) (81) Other comprehensive income (loss), before tax (13,805) 6,461 (7,344) Income tax expense (benefit) related to other comprehensive income (loss) (2,453) 960 (1,493) Other comprehensive income (loss) (11,352) 5,501 (5,851) Comprehensive income (loss) (16,910) 6,369 (10,541) Less: Comprehensive income (loss) attributable to noncontrolling interests (3,520) 1,397 (2,123) Comprehensive income (loss) attributable to Athene Holding Ltd. shareholders $ (13,390) $ 4,972 $ (8,418) Nine months ended September 30, 2022 (In millions) Reported Adoption Adjusted Net income (loss) $ (6,935) $ 1,193 $ (5,742) Other comprehensive income (loss), before tax Unrealized investment gains (losses) on available-for-sale securities (19,414) (764) (20,178) Remeasurement gains (losses) on future policy benefits related to discount rate — 8,833 8,833 Remeasurement gains (losses) on market risk benefits related to credit risk — 524 524 Foreign currency translation and other adjustments (13) (59) (72) Other comprehensive income (loss), before tax (19,555) 8,534 (11,021) Income tax expense (benefit) related to other comprehensive income (loss) (3,444) 1,224 (2,220) Other comprehensive income (loss) (16,111) 7,310 (8,801) Comprehensive income (loss) (23,046) 8,503 (14,543) Less: Comprehensive income (loss) attributable to noncontrolling interests (4,787) 2,024 (2,763) Comprehensive income (loss) attributable to Athene Holding Ltd. shareholders $ (18,259) $ 6,479 $ (11,780) Year ended December 31, 2022 (In millions) Reported Adoption Adjusted Net income (loss) $ (6,254) $ 1,238 $ (5,016) Other comprehensive income (loss), before tax Unrealized investment gains (losses) on available-for-sale securities (17,457) (699) (18,156) Remeasurement gains (losses) on future policy benefits related to discount rate — 8,425 8,425 Remeasurement gains (losses) on market risk benefits related to credit risk — 366 366 Foreign currency translation and other adjustments (16) (11) (27) Other comprehensive income (loss), before tax (17,471) 8,081 (9,390) Income tax expense (benefit) related to other comprehensive income (loss) (3,083) 1,150 (1,933) Other comprehensive income (loss) (14,388) 6,931 (7,457) Comprehensive income (loss) (20,642) 8,169 (12,473) Less: Comprehensive income (loss) attributable to noncontrolling interests (4,169) 1,927 (2,242) Comprehensive income (loss) attributable to Athene Holding Ltd. shareholders $ (16,473) $ 6,242 $ (10,231) We made corresponding adjustments to the condensed consolidated statements of equity for the relevant periods to reflect the changes to net loss and comprehensive loss, as presented above. The following represents the effects of LDTI adoption on the applicable financial statement lines of our condensed consolidated statements of cash flows: Three months ended March 31, 2022 (In millions) Reported Adoption Adjusted Net income (loss) $ (2,366) $ 470 $ (1,896) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired 125 (27) 98 Net recognized (gains) losses on investments and derivatives 1,813 12 1,825 Changes in operating assets and liabilities: Interest sensitive contract liabilities (480) (68) (548) Future policy benefits, market risk benefits and reinsurance recoverable (266) (510) (776) Other assets and liabilities (734) 123 (611) Net cash provided by operating activities 155 — 155 Net cash used in investing activities (6,165) — (6,165) Net cash provided by financing activities 5,463 — 5,463 Effect of exchange rate changes on cash and cash equivalents (4) — (4) Net decrease in cash and cash equivalents (551) — (551) Cash and cash equivalents at beginning of year 1 10,429 — 10,429 Cash and cash equivalents at end of period 1 $ 9,878 $ — $ 9,878 1 Includes cash and cash equivalents, restricted cash and cash and cash equivalents of consolidated variable interest entities. Six months ended June 30, 2022 (In millions) Reported Adoption Adjusted Net income (loss) $ (5,558) $ 868 $ (4,690) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired 250 (44) 206 Changes in operating assets and liabilities: Interest sensitive contract liabilities (1,604) (120) (1,724) Future policy benefits, market risk benefits and reinsurance recoverable 3,933 (933) 3,000 Other assets and liabilities (1,139) 229 (910) Net cash provided by operating activities 4,726 — 4,726 Net cash used in investing activities (11,719) — (11,719) Net cash provided by financing activities 8,707 — 8,707 Effect of exchange rate changes on cash and cash equivalents (20) — (20) Net increase in cash and cash equivalents 1,694 — 1,694 Cash and cash equivalents at beginning of year 1 10,429 — 10,429 Cash and cash equivalents at end of period 1 $ 12,123 $ — $ 12,123 1 Includes cash and cash equivalents, restricted cash and cash and cash equivalents of consolidated variable interest entities. Nine months ended September 30, 2022 (In millions) Reported Adoption Adjusted Net income (loss) $ (6,935) $ 1,193 $ (5,742) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired 375 (57) 318 Net recognized (gains) losses on investments and derivatives 5,958 (1) 5,957 Changes in operating assets and liabilities: Interest sensitive contract liabilities (2,002) (50) (2,052) Future policy benefits, market risk benefits and reinsurance recoverable 5,240 (1,403) 3,837 Other assets and liabilities (1,586) 318 (1,268) Net cash provided by operating activities 6,077 — 6,077 Net cash used in investing activities (22,338) — (22,338) Net cash provided by financing activities 17,115 — 17,115 Effect of exchange rate changes on cash and cash equivalents (18) — (18) Net increase in cash and cash equivalents 836 — 836 Cash and cash equivalents at beginning of year 1 10,429 — 10,429 Cash and cash equivalents at end of period 1 $ 11,265 $ — $ 11,265 1 Includes cash and cash equivalents, restricted cash and cash and cash equivalents of consolidated variable interest entities. Year ended December 31, 2022 (In millions) Reported Adoption Adjusted Net income (loss) $ (6,254) $ 1,238 $ (5,016) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired 509 (65) 444 Changes in operating assets and liabilities: Interest sensitive contract liabilities (1,269) (68) (1,337) Future policy benefits, market risk benefits and reinsurance recoverable 5,339 (1,438) 3,901 Other assets and liabilities (1,527) 333 (1,194) Net cash provided by operating activities 6,258 — 6,258 Net cash used in investing activities (34,375) — (34,375) Net cash provided by financing activities 26,472 — 26,472 Effect of exchange rate changes on cash and cash equivalents (15) — (15) Net decrease in cash and cash equivalents (1,660) — (1,660) Cash and cash equivalents at beginning of year 1 10,429 — 10,429 Cash and cash equivalents at end of year 1 $ 8,769 $ — $ 8,769 1 Includes cash and cash equivalents, restricted cash and cash and cash equivalents of consolidated variable interest entities.

Business Combination

Business Combination	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combination	3. Business Combination On January 1, 2022, we completed our merger with Apollo and are a direct subsidiary of AGM. At the closing of the merger, each issued and outstanding AHL Class A common share (other than shares held by Apollo, the Apollo Operating Group (AOG) or the respective direct or indirect wholly owned subsidiaries of Athene or the AOG) was converted automatically into 1.149 shares of AGM common shares and any cash paid in lieu of fractional AGM common shares. In connection with the merger, AGM issued to AHL Class A common shareholders 158.2 million AGM common shares in exchange for 137.6 million AHL Class A common shares that were issued and outstanding as of the acquisition date, exclusive of the 54.6 million shares previously held by Apollo immediately before the acquisition date. The consideration was calculated based on historical AGM’s December 31, 2021 closing share price multiplied by the AGM common shares issued in the share exchange, as well as the fair value of stock-based compensation awards replaced, fair value of warrants converted to AGM common shares and other equity consideration, and effective settlement of pre-existing relationships and other consideration. The following represents the calculation of consideration: (In millions, except exchange ratio and share price data) Consideration AHL common shares purchased 138 Exchange ratio 1.149 Shares of common stock issued in exchange 158 AGM Class A shares closing price $ 72.43 Total merger consideration at closing $ 11,455 Fair value of estimated RSUs, options and warrants assumed and other equity consideration 699 Effective settlement of pre-existing relationships 896 Total merger consideration 13,050 Fair value of AHL common shares previously held by Apollo and other adjustments 4,554 Total AHL equity value held by AGM 17,604 Fair value of preferred stock 2,666 Noncontrolling interests 2,276 Total AHL equity value $ 22,546 The following represents the calculation of goodwill and fair value amounts recognized: (In millions) Fair value and goodwill calculation Merger consideration $ 13,050 Fair value of AHL common shares previously held by Apollo and other adjustments 4,554 Total AHL equity value held by AGM 17,604 Assets Investments $ 176,015 Cash and cash equivalents 9,479 Restricted cash 796 Investment in related parties 33,863 Reinsurance recoverable 4,977 VOBA 3,372 Other assets 6,115 Assets of consolidated variable interest entities 3,635 Estimated fair value of total assets acquired by AGM 238,252 Liabilities Interest sensitive contract liabilities 160,241 Future policy benefits 41,482 Market risk benefits 4,813 Debt 3,295 Payables for collateral on derivatives and securities to repurchase 7,044 Other liabilities 2,443 Liabilities of consolidated variable interest entities 461 Estimated fair value of total liabilities assumed by AGM 219,779 Identifiable net assets 18,473 Less: Fair value of preferred stock 2,666 Less: Fair value of noncontrolling interests 2,276 Estimated fair value of net assets acquired by AGM, excluding goodwill 13,531 Goodwill attributable to AHL $ 4,073 As part of pushdown accounting, we recorded the calculated goodwill based on the amount that our AHL equity value to be held by AGM exceeded the fair value of identifiable net assets less the amounts attributable to fair values of preferred stock and noncontrolling interests. Goodwill is primarily attributable to the scale, skill sets, operations, and synergies that can be achieved subsequent to the merger. The goodwill recorded is not expected to be deductible for tax purposes. We also recorded VOBA and other identifiable intangible assets. Other identifiable intangible assets are included in other assets on the condensed consolidated balance sheets, as follows: Distribution channels These assets are valued using the excess earnings method, which derives value based on the present value of the cash flow attributable to the distribution channels, less returns for contributory assets. Amortization of these assets is on a straight-line basis. Trade name This represents the Athene trade name and was valued using the relief-from-royalty method considering publicly available third-party trade name royalty rates as well as expected premiums generated by the use of the trade name over its anticipated life. Amortization of this asset is on a straight-line basis. Insurance licenses Licenses are protected through registration and were valued using the market approach based on third-party market transactions from which the prices paid for state insurance licenses could be derived. These assets are not amortized. The fair value and weighted average estimated useful life of identifiable intangible assets consists of the following: Fair value (in millions) Weighted average useful life (in years) VOBA $ 3,372 7 Distribution channels 1,870 18 Trade name 160 20 Insurance licenses 26 Indefinite Total $ 5,428

Investments

Investments	9 Months Ended
	Sep. 30, 2023
Schedule of Investments [Abstract]
Investments	4. Investments AFS Securities — Our AFS investment portfolio includes bonds, collateralized loan obligations (CLO), asset-backed securities (ABS), commercial mortgage-backed securities (CMBS), residential mortgage-backed securities (RMBS) and redeemable preferred stock. Our AFS investment portfolio includes related party investments that are primarily comprised of investments over which Apollo can exercise significant influence. These investments are presented as investments in related parties on the condensed consolidated balance sheets, and are separately disclosed below. The following table represents the amortized cost, allowance for credit losses, gross unrealized gains and losses and fair value of our AFS investments by asset type: September 30, 2023 (In millions) Amortized Cost Allowance for Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value AFS securities US government and agencies $ 5,506 $ — $ — $ (1,246) $ 4,260 US state, municipal and political subdivisions 1,273 — — (311) 962 Foreign governments 1,279 (27) 6 (343) 915 Corporate 83,029 (140) 68 (15,656) 67,301 CLO 19,641 (3) 171 (883) 18,926 ABS 11,608 (30) 23 (794) 10,807 CMBS 6,092 (7) 12 (601) 5,496 RMBS 7,888 (371) 161 (630) 7,048 Total AFS securities 136,316 (578) 441 (20,464) 115,715 AFS securities – related parties Corporate 1,426 — 1 (71) 1,356 CLO 4,390 — 19 (174) 4,235 ABS 8,762 (1) 17 (384) 8,394 Total AFS securities – related parties 14,578 (1) 37 (629) 13,985 Total AFS securities including related parties $ 150,894 $ (579) $ 478 $ (21,093) $ 129,700 December 31, 2022 (In millions) Amortized Cost Allowance for Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value AFS securities US government and agencies $ 3,333 $ — $ — $ (756) $ 2,577 US state, municipal and political subdivisions 1,218 — — (291) 927 Foreign governments 1,207 (27) 3 (276) 907 Corporate 74,644 (61) 92 (13,774) 60,901 CLO 17,722 (7) 115 (1,337) 16,493 ABS 11,447 (29) 15 (906) 10,527 CMBS 4,636 (5) 6 (479) 4,158 RMBS 6,775 (329) 64 (596) 5,914 Total AFS securities 120,982 (458) 295 (18,415) 102,404 AFS securities – related parties Corporate 1,028 — 1 (47) 982 CLO 3,346 (1) 10 (276) 3,079 ABS 6,066 — 3 (309) 5,760 Total AFS securities – related parties 10,440 (1) 14 (632) 9,821 Total AFS securities including related parties $ 131,422 $ (459) $ 309 $ (19,047) $ 112,225 The amortized cost and fair value of AFS securities, including related parties, are shown by contractual maturity below: September 30, 2023 (In millions) Amortized Cost Fair Value AFS securities Due in one year or less $ 2,232 $ 2,167 Due after one year through five years 15,532 14,370 Due after five years through ten years 22,864 19,179 Due after ten years 50,459 37,722 CLO, ABS, CMBS and RMBS 45,229 42,277 Total AFS securities 136,316 115,715 AFS securities – related parties Due after one year through five years 908 883 Due after five years through ten years 130 123 Due after ten years 388 350 CLO and ABS 13,152 12,629 Total AFS securities – related parties 14,578 13,985 Total AFS securities including related parties $ 150,894 $ 129,700 Actual maturities can differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Unrealized Losses on AFS Securities — The following summarizes the fair value and gross unrealized losses for AFS securities, including related parties, for which an allowance for credit losses has not been recorded, aggregated by asset type and length of time the fair value has remained below amortized cost: September 30, 2023 Less than 12 months 12 months or more Total (In millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses AFS securities US government and agencies $ 2,023 $ (292) $ 2,167 $ (954) $ 4,190 $ (1,246) US state, municipal and political subdivisions 119 (11) 840 (300) 959 (311) Foreign governments 117 (9) 785 (331) 902 (340) Corporate 17,338 (1,075) 48,290 (14,553) 65,628 (15,628) CLO 685 (21) 12,001 (811) 12,686 (832) ABS 2,780 (116) 4,320 (597) 7,100 (713) CMBS 1,453 (23) 1,883 (501) 3,336 (524) RMBS 1,272 (62) 1,923 (318) 3,195 (380) Total AFS securities 25,787 (1,609) 72,209 (18,365) 97,996 (19,974) AFS securities – related parties Corporate 578 (34) 356 (36) 934 (70) CLO 498 (19) 2,591 (153) 3,089 (172) ABS 2,702 (99) 2,570 (259) 5,272 (358) Total AFS securities – related parties 3,778 (152) 5,517 (448) 9,295 (600) Total AFS securities including related parties $ 29,565 $ (1,761) $ 77,726 $ (18,813) $ 107,291 $ (20,574) December 31, 2022 Less than 12 months 12 months or more Total (In millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses AFS securities US government and agencies $ 2,539 $ (756) $ — $ — $ 2,539 $ (756) US state, municipal and political subdivisions 911 (291) — — 911 (291) Foreign governments 891 (275) — — 891 (275) Corporate 58,256 (13,773) — — 58,256 (13,773) CLO 13,486 (1,277) — — 13,486 (1,277) ABS 8,119 (801) — — 8,119 (801) CMBS 2,650 (427) — — 2,650 (427) RMBS 2,621 (365) — — 2,621 (365) Total AFS securities 89,473 (17,965) — — 89,473 (17,965) AFS securities – related parties Corporate 619 (47) — — 619 (47) CLO 2,752 (273) — — 2,752 (273) ABS 5,487 (308) — — 5,487 (308) Total AFS securities – related parties 8,858 (628) — — 8,858 (628) Total AFS securities including related parties $ 98,331 $ (18,593) $ — $ — $ 98,331 $ (18,593) The following summarizes the number of AFS securities that were in an unrealized loss position, including related parties, for which an allowance for credit losses has not been recorded: September 30, 2023 Unrealized loss position Unrealized loss position 12 months or more AFS securities 9,552 7,841 AFS securities – related parties 203 139 The unrealized losses on AFS securities can primarily be attributed to changes in market interest rates since the application of pushdown accounting or acquisition. We did not recognize the unrealized losses in income, unless as required for hedge accounting, as we intend to hold these securities and it is not more likely than not we will be required to sell a security before the recovery of its amortized cost. Allowance for Credit Losses — The following table summarizes the activity in the allowance for credit losses for AFS securities including purchased credit deteriorated (PCD) securities by asset type: Three months ended September 30, 2023 Additions Reductions (In millions) Beginning balance Initial credit losses Initial credit losses on PCD securities Securities sold during the period Securities intended to be sold prior to recovery of amortized cost basis Additions (reductions) to previously impaired securities Ending balance AFS securities Foreign governments $ 27 $ — $ — $ — $ — $ — $ 27 Corporate 73 67 — (2) — 2 140 CLO 3 — — — — — 3 ABS 35 1 — (4) — (2) 30 CMBS 6 1 — — — — 7 RMBS 377 4 1 (5) — (6) 371 Total AFS securities 521 73 1 (11) — (6) 578 AFS securities – related parties ABS 1 — — — — — 1 Total AFS securities – related parties 1 — — — — — 1 Total AFS securities including related parties $ 522 $ 73 $ 1 $ (11) $ — $ (6) $ 579 Three months ended September 30, 2022 Additions Reductions (In millions) Beginning balance Initial credit losses Initial credit losses on PCD securities Securities sold during the period Securities intended to be sold prior to recovery of amortized cost basis Additions (reductions) to previously impaired securities Ending balance AFS securities Foreign governments $ 61 $ — $ — $ (28) $ — $ (6) $ 27 Corporate 70 5 — — (6) (3) 66 CLO 107 2 — — — (104) 5 ABS 14 7 — — — (8) 13 CMBS 9 — — — — (6) 3 RMBS 348 1 2 (7) — (23) 321 Total AFS securities 609 15 2 (35) (6) (150) 435 AFS securities – related party CLO 19 — — — — (18) 1 ABS 1 — — — — (1) — Total AFS securities – related party 20 — — — — (19) 1 Total AFS securities including related parties $ 629 $ 15 $ 2 $ (35) $ (6) $ (169) $ 436 Nine months ended September 30, 2023 Additions Reductions (In millions) Beginning balance Initial credit losses Initial credit losses on PCD securities Securities sold during the period Securities intended to be sold prior to recovery of amortized cost basis Additions (reductions) to previously impaired securities Ending balance AFS securities Foreign governments $ 27 $ — $ — $ — $ — $ — $ 27 Corporate 61 88 — (8) — (1) 140 CLO 7 1 — — — (5) 3 ABS 29 2 — (4) — 3 30 CMBS 5 4 — — — (2) 7 RMBS 329 15 40 (13) — — 371 Total AFS securities 458 110 40 (25) — (5) 578 AFS securities – related parties CLO 1 — — — — (1) — ABS — 1 — — — — 1 Total AFS securities – related parties 1 1 — — — (1) 1 Total AFS securities including related parties $ 459 $ 111 $ 40 $ (25) $ — $ (6) $ 579 Nine months ended September 30, 2022 Additions Reductions (In millions) January 1, 2022 Initial credit losses Initial credit losses on PCD securities Securities sold during the period Securities intended to be sold prior to recovery of amortized cost basis Additions (reductions) to previously impaired securities Ending balance AFS securities Foreign governments $ — $ 66 $ — $ (28) $ — $ (11) $ 27 Corporate — 66 — — (6) 6 66 CLO — 24 — — — (19) 5 ABS 5 16 — — — (8) 13 CMBS — 14 — — — (11) 3 RMBS 306 30 3 (24) — 6 321 Total AFS securities 311 216 3 (52) (6) (37) 435 AFS securities – related parties CLO — 3 — — — (2) 1 ABS — 18 — — — (18) — Total AFS securities – related party — 21 — — (20) 1 Total AFS securities including related parties $ 311 $ 237 $ 3 $ (52) $ (6) $ (57) $ 436 Net Investment Income —Net investment income by asset class consists of the following: Three months ended September 30, Nine months ended September 30, (In millions) 2023 2022 2023 2022 AFS securities $ 1,822 $ 1,077 $ 4,940 $ 2,885 Trading securities 49 41 135 153 Equity securities 14 17 54 41 Mortgage loans 642 336 1,632 870 Investment funds (13) (35) 59 373 Funds withheld at interest 486 534 1,368 1,347 Other 214 75 623 165 Investment revenue 3,214 2,045 8,811 5,834 Investment expenses (286) (202) (759) (582) Net investment income $ 2,928 $ 1,843 $ 8,052 $ 5,252 Investment Related Gains (Losses) —Investment related gains (losses) by asset class consists of the following: Three months ended September 30, Nine months ended September 30, (In millions) 2023 2022 2023 2022 AFS securities 1 Gross realized gains on investment activity $ 55 $ 84 $ 379 $ 404 Gross realized losses on investment activity (431) (761) (647) (2,003) Net realized investment losses on AFS securities (376) (677) (268) (1,599) Net recognized investment losses on trading securities (137) (121) (105) (489) Net recognized investment losses on equity securities (3) (9) (34) (257) Net recognized investment losses on mortgage loans (911) (1,199) (838) (3,094) Derivative losses (1,480) (1,821) (66) (8,794) Provision for credit losses (60) 171 (237) (193) Other gains 343 808 355 1,615 Investment related gains (losses) $ (2,624) $ (2,848) $ (1,193) $ (12,811) 1 Includes the effects of recognized gains or losses on AFS securities associated with designated hedges. Proceeds from sales of AFS securities were $724 million and $635 million for the three months ended September 30, 2023 and 2022, respectively, and $3,918 million and $9,405 million for the nine months ended September 30, 2023 and 2022, respectively. The following table summarizes the change in unrealized gains (losses) on trading and equity securities, including related parties, we held as of the respective period end: Three months ended September 30, Nine months ended September 30, (In millions) 2023 2022 2023 2022 Trading securities $ (75) $ (119) $ (35) $ (455) Trading securities – related parties 3 3 3 (3) Equity securities 6 2 9 (237) Equity securities – related parties (9) (18) (16) (31) Repurchase Agreements— The following table summarizes the remaining contractual maturities of our repurchase agreements, which are included in payables for collateral on derivatives and securities to repurchase on the condensed consolidated balance sheets: (In millions) September 30, 2023 December 31, 2022 Less than 30 days $ 533 $ 608 30-90 days 427 1,268 91 days to 1 year 686 — Greater than 1 year 2,866 2,867 Payables for repurchase agreements $ 4,512 $ 4,743 The following table summarizes the securities pledged as collateral for repurchase agreements: September 30, 2023 December 31, 2022 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value AFS securities US government and agencies $ 1,353 $ 962 $ 2,559 $ 1,941 Foreign governments 152 101 146 107 Corporate 2,899 2,285 1,940 1,605 CLO 264 259 273 261 ABS 1,226 1,074 1,243 1,082 Total securities pledged under repurchase agreements $ 5,894 $ 4,681 $ 6,161 $ 4,996 Reverse Repurchase Agreements — As of September 30, 2023 and December 31, 2022, amounts loaned under reverse repurchase agreements were $949 million and $1,640 million, respectively, and the fair value of the collateral, comprised primarily of commercial and residential mortgage loans, was $1,447 million and $1,753 million, respectively. Mortgage Loans, including related parties and consolidated VIEs —Mortgage loans includes both commercial and residential loans. In connection with the merger, we elected the fair value option on our mortgage loan portfolio. See Note 7 – Fair Value for further fair value option information. The following represents the mortgage loan portfolio, with fair value option loans presented at unpaid principal balance: (In millions) September 30, 2023 December 31, 2022 Commercial mortgage loans $ 24,667 $ 21,061 Commercial mortgage loans under development 1,232 790 Total commercial mortgage loans 25,899 21,851 Mark to fair value (2,430) (1,743) Commercial mortgage loans 23,469 20,108 Residential mortgage loans 19,271 11,802 Mark to fair value (1,486) (1,099) Residential mortgage loans 17,785 10,703 Mortgage loans $ 41,254 $ 30,811 We primarily invest in commercial mortgage loans on income producing properties including office and retail buildings, apartments, hotels and industrial properties. We diversify the commercial mortgage loan portfolio by geographic region and property type to reduce concentration risk. We evaluate mortgage loans based on relevant current information to confirm if properties are performing at a consistent and acceptable level to secure the related debt. The distribution of commercial mortgage loans, including those under development, by property type and geographic region, is as follows: September 30, 2023 December 31, 2022 (In millions, except for percentages) Fair Value Percentage of Total Fair Value Percentage of Total Property type Office building $ 4,325 18.5 % $ 4,651 23.1 % Retail 1,815 7.7 % 1,454 7.2 % Apartment 8,463 36.1 % 6,692 33.3 % Hotels 2,373 10.1 % 1,855 9.2 % Industrial 2,565 10.9 % 2,047 10.2 % Other commercial 3,928 16.7 % 3,409 17.0 % Total commercial mortgage loans $ 23,469 100.0 % $ 20,108 100.0 % US region East North Central $ 1,439 6.1 % $ 1,437 7.1 % East South Central 422 1.8 % 413 2.1 % Middle Atlantic 6,656 28.4 % 5,183 25.8 % Mountain 949 4.0 % 898 4.5 % New England 1,179 5.0 % 1,076 5.4 % Pacific 4,175 17.8 % 3,781 18.8 % South Atlantic 3,879 16.6 % 2,756 13.7 % West North Central 194 0.8 % 231 1.1 % West South Central 981 4.2 % 1,085 5.4 % Total US region 19,874 84.7 % 16,860 83.9 % International region United Kingdom 2,200 9.4 % 1,898 9.4 % Other international 1 1,395 5.9 % 1,350 6.7 % Total international region 3,595 15.3 % 3,248 16.1 % Total commercial mortgage loans $ 23,469 100.0 % $ 20,108 100.0 % 1 Represents all other countries, with each individual country comprising less than 5% of the portfolio. Our residential mortgage loan portfolio includes first lien residential mortgage loans collateralized by properties in various geographic locations and is summarized by proportion of the portfolio in the following table: September 30, 2023 December 31, 2022 US States California 27.9 % 28.9 % Florida 11.8 % 9.7 % New York 6.5 % 5.6 % Texas 5.6 % 4.3 % New Jersey 5.2 % 5.3 % Arizona 4.3 % 5.1 % Other 1 29.7 % 27.4 % Total US residential mortgage loan percentage 91.0 % 86.3 % International United Kingdom 3.8 % 5.4 % Other 2 5.2 % 8.3 % Total international residential mortgage loan percentage 9.0 % 13.7 % Total residential mortgage loan percentage 100.0 % 100.0 % 1 Represents all other states, with each individual state comprising less than 5% of the portfolio. 2 Represents all other countries, with each individual country comprising less than 5% of the portfolio. Investment Funds —Our investment fund portfolio consists of funds that employ various strategies and include investments in origination platforms, insurance platforms, and equity, hybrid, yield and other funds. Investment funds can meet the definition of VIEs, which are discussed further in Note 6 – Variable Interest Entities . Our investment funds do not specify timing of distributions on the funds’ underlying assets. The following summarizes our investment funds, including related parties and consolidated VIEs: September 30, 2023 December 31, 2022 (In millions, except for percentages) Carrying value Percent of total Carrying value Percent of total Investment funds Equity $ 90 72.5 % $ 46 58.2 % Hybrid 24 19.4 % 32 40.5 % Other 10 8.1 % 1 1.3 % Total investment funds 124 100.0 % 79 100.0 % Investment funds – related parties Strategic origination platforms 45 2.8 % 34 2.2 % Strategic insurance platforms 1,287 80.2 % 1,259 80.2 % Apollo and other fund investments Equity 244 15.2 % 246 15.7 % Yield 6 0.4 % 5 0.3 % Other 22 1.4 % 25 1.6 % Total investment funds – related parties 1,604 100.0 % 1,569 100.0 % Investment funds – consolidated VIEs Strategic origination platforms 5,322 35.3 % 4,829 38.7 % Strategic insurance platforms 511 3.4 % 529 4.2 % Apollo and other fund investments Equity 3,430 22.7 % 2,640 21.2 % Hybrid 3,771 25.0 % 3,112 24.9 % Yield 1,357 9.0 % 1,044 8.4 % Other 699 4.6 % 326 2.6 % Total investment funds – consolidated VIEs 15,090 100.0 % 12,480 100.0 % Total investment funds including related parties and funds owned by consolidated VIEs $ 16,818 $ 14,128 Non-Consolidated Securities and Investment Funds Fixed maturity securities – We invest in securitization entities as a debt holder or an investor in the residual interest of the securitization vehicle. These entities are deemed VIEs due to insufficient equity within the structure and lack of control by the equity investors over the activities that significantly impact the economics of the entity. In general, we are a debt investor within these entities and, as such, hold a variable interest; however, due to the debt holders’ lack of ability to control the decisions within the trust that significantly impact the entity, and the fact the debt holders are protected from losses due to the subordination of the equity tranche, the debt holders are not deemed the primary beneficiary. Securitization vehicles in which we hold the residual tranche are not consolidated because we do not unilaterally have substantive rights to remove the general partner, or when assessing related party interests, we are not under common control, as defined by US GAAP, with the related parties, nor are substantially all of the activities conducted on our behalf; therefore, we are not deemed the primary beneficiary. Debt investments and investments in the residual tranche of securitization entities are considered debt instruments and are held at fair value on the balance sheet and classified as AFS or trading. Investment funds – Investment funds include non-fixed income, alternative investments in the form of limited partnerships or similar legal structures. Equity securities – We invest in preferred equity securities issued by entities deemed to be VIEs due to insufficient equity within the structure. Our risk of loss associated with our non-consolidated investments depends on the investment. Investment funds, equity securities and trading securities are limited to the carrying value plus unfunded commitments. AFS securities are limited to amortized cost plus unfunded commitments. The following summarizes the carrying value and maximum loss exposure of these non-consolidated investments: September 30, 2023 December 31, 2022 (In millions) Carrying Value Maximum Loss Exposure Carrying Value Maximum Loss Exposure Investment funds $ 124 $ 593 $ 79 $ 340 Investment in related parties – investment funds 1,604 2,325 1,569 2,253 Assets of consolidated VIEs – investment funds 15,090 21,270 12,480 20,278 Investment in fixed maturity securities 42,685 46,101 37,454 40,992 Investment in related parties – fixed maturity securities 13,500 16,414 9,717 10,290 Investment in related parties – equity securities 304 304 279 279 Total non-consolidated investments $ 73,307 $ 87,007 $ 61,578 $ 74,432 Concentrations —The following table represents our investment concentrations in excess of 10% of shareholders’ equity: (In millions) September 30, 2023 AT&T Inc. $ 1,461 Wheels Donlen 1 1,454 PK AirFinance 1 1,410 MFI Investments 1,361 Athora 1 1,282 Atlas 1 1,007 Atlas 1 – reverse repurchase agreement 922 AP Tundra 865 (In millions) December 31, 2022 Wheels Donlen 1 $ 1,288 Athora 1 1,232 PK AirFinance 1 999 AP Tundra 896 MFI Investments 878 SoftBank Vision Fund II 789 MidCap 1 788 Cayman Universe 756 1 Related party amounts are representative of single issuer risk and may only include a portion of the total investments associated with a related party. See further discussion of these related parties in Note 13 – Related Parties.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	5. Derivative Instruments We use a variety of derivative instruments to manage risks, primarily equity, interest rate, credit, foreign currency and market volatility. See Note 7 – Fair Value for information about the fair value hierarchy for derivatives. The following table presents the notional amount and fair value of derivative instruments: September 30, 2023 December 31, 2022 Notional Amount Fair Value Notional Amount Fair Value (In millions) Assets Liabilities Assets Liabilities Derivatives designated as hedges Foreign currency hedges Swaps 8,240 $ 647 $ 167 6,677 $ 747 $ 154 Forwards 6,381 437 40 6,283 406 52 Interest rate swaps 4,468 — 809 4,468 — 803 Forwards on net investments 219 3 — 216 2 — Interest rate swaps 10,031 14 203 9,332 9 150 Total derivatives designated as hedges 1,101 1,219 1,164 1,159 Derivatives not designated as hedges Equity options 71,579 2,530 101 65,089 1,374 114 Futures 30 69 8 18 33 — Foreign currency swaps 4,549 278 108 3,563 251 112 Interest rate swaps 482 79 — 488 74 — Other swaps 180 — 3 89 — 4 Foreign currency forwards 22,322 514 453 16,376 413 257 Embedded derivatives Funds withheld including related parties (5,953) (89) (6,272) (77) Interest sensitive contract liabilities — 7,345 — 5,841 Total derivatives not designated as hedges (2,483) 7,929 (4,127) 6,251 Total derivatives $ (1,382) $ 9,148 $ (2,963) $ 7,410 Derivatives Designated as Hedges Cash Flow Hedges – We use interest rate swaps to convert floating-rate interest payments to fixed-rate interest payments to reduce exposure to interest rate changes. The interest rate swaps will expire by July 2027. During the three months ended September 30, 2023 and 2022, interest rate swaps recognized in OCI had gains of $91 million and losses of $111 million, respectively. During the nine months ended September 30, 2023 and 2022, interest rate swaps recognized in OCI had losses of $35 million and $111 million, respectively. There were no amounts deemed ineffective during the three and nine months ended September 30, 2023 and 2022. As of September 30, 2023, no amounts are expected to be reclassified to income within the next 12 months. Fair Value Hedges – We use foreign currency forward contracts, foreign currency swaps, foreign currency interest rate swaps and interest rate swaps that are designated and accounted for as fair value hedges to hedge certain exposures to foreign currency risk and interest rate risk. The foreign currency forward price is agreed upon at the time of the contract and payment is made at a specified future date. The following represents the carrying amount and the cumulative fair value hedging adjustments included in the hedged assets or liabilities: September 30, 2023 December 31, 2022 (In millions) Carrying amount of the hedged assets or liabilities 1 Cumulative amount of fair value hedging gains (losses) Carrying amount of the hedged assets or liabilities 1 Cumulative amount of fair value hedging gains (losses) AFS securities Foreign currency forwards $ 5,372 $ (245) $ 5,259 $ (217) Foreign currency swaps 5,448 (452) 4,797 (398) Interest sensitive contract liabilities Foreign currency swaps 1,369 90 1,081 88 Foreign currency interest rate swaps 3,724 647 4,348 632 Interest rate swaps 6,711 386 6,577 323 1 The carrying amount disclosed for AFS securities is amortized cost. The following is a summary of the gains (losses) related to the derivatives and related hedged items in fair value hedge relationships: Amount Excluded (In millions) Derivatives Hedged Items Net Recognized in income through amortization approach Recognized in income through changes in fair value Three months ended September 30, 2023 Investment related gains (losses) Foreign currency forwards $ 179 $ (187) $ (8) $ 21 $ 5 Foreign currency swaps 161 (166) (5) — — Foreign currency interest rate swaps (90) 95 5 — — Interest rate swaps (74) 63 (11) — — Interest sensitive contract benefits Foreign currency interest rate swaps 16 (14) 2 — — Three months ended September 30, 2022 Investment related gains (losses) Foreign currency forwards $ 288 $ (290) $ (2) $ 18 $ — Foreign currency swaps 256 (283) (27) — — Foreign currency interest rate swaps (379) 384 5 — — Interest rate swaps (268) 264 (4) — — Interest sensitive contract benefits Foreign currency interest rate swaps 12 (14) (2) — — Amount Excluded (In millions) Derivatives Hedged Items Net Recognized in income through amortization approach Recognized in income through changes in fair value Nine months ended September 30, 2023 Investment related gains (losses) Foreign currency forwards $ 74 $ (77) $ (3) $ 66 $ 12 Foreign currency swaps 59 (57) 2 — — Foreign currency interest rate swaps (5) 15 10 — — Interest rate swaps (92) 79 (13) — — Interest sensitive contract benefits Foreign currency interest rate swaps 44 (44) — — — Nine months ended September 30, 2022 Investment related gains (losses) Foreign currency forwards $ 616 $ (648) $ (32) $ 48 $ 1 Foreign currency swaps 589 (630) (41) — — Foreign currency interest rate swaps (873) 879 6 — — Interest rate swaps (345) 357 12 — — Interest sensitive contract benefits Foreign currency interest rate swaps 37 (37) — — — The following is a summary of the gains (losses) excluded from the assessment of hedge effectiveness that were recognized in OCI : Three months ended September 30, Nine months ended September 30, (In millions) 2023 2022 2023 2022 Foreign currency forwards $ (65) $ (20) $ (63) $ (77) Foreign currency swaps (239) 51 (182) 60 Net Investment Hedges – We use foreign currency forwards to hedge the foreign currency exchange rate risk of our investments in subsidiaries that have a reporting currency other than the US dollar. We assess hedge effectiveness based on the changes in forward rates. During the three months ended September 30, 2023 and 2022, these derivatives had gains of $13 million and $22 million, respectively. During the nine months ended September 30, 2023 and 2022 , these derivatives had gains of $5 million and $47 million, respectively. These derivatives are included in foreign currency translation and other adjustments on the condensed consolidated statements of comprehensive income (loss). As of September 30, 2023 and December 31, 2022, the cumulative foreign currency translations recorded in AOCI related to these net investment hedges were gains of $35 million and $30 million, respectively. During the three and nine months ended September 30, 2023 and 2022 , there were no amounts deemed ineffective. Derivatives Not Designated as Hedges Equity options – We use equity indexed options to economically hedge fixed indexed annuity products that guarantee the return of principal to the policyholder and credit interest based on a percentage of the gain in a specified market index, primarily the S&P 500. To hedge against adverse changes in equity indices, we enter into contracts to buy equity indexed options. The contracts are net settled in cash based on differentials in the indices at the time of exercise and the strike price. Futures – Futures contracts are purchased to hedge the growth in interest credited to the customer as a direct result of increases in the related indices. We enter into exchange-traded futures with regulated futures commission clearing brokers who are members of a trading exchange. Under exchange-traded futures contracts, we agree to purchase a specified number of contracts with other parties and to post variation margin on a daily basis in an amount equal to the difference in the daily fair values of those contracts. Interest rate swaps – We use interest rate swaps to reduce market risks from interest rate changes and to alter interest rate exposure arising from duration mismatches between assets and liabilities. With an interest rate swap, we agree with another party to exchange the difference between fixed-rate and floating-rate interest amounts tied to an agreed-upon notional principal amount at specified intervals. Other swaps – Other swaps include total return swaps and credit default swaps. We purchase total rate of return swaps to gain exposure and benefit from a reference asset or index without ownership. Credit default swaps provide a measure of protection against the default of an issuer or allow us to gain credit exposure to an issuer or traded index. We use credit default swaps coupled with a bond to synthetically create the characteristics of a reference bond. Embedded derivatives – We have embedded derivatives which are required to be separated from their host contracts and reported as derivatives. Host contracts include reinsurance agreements structured on a modco or funds withheld basis and indexed annuity products. The following is a summary of the gains (losses) related to derivatives not designated as hedges: Three months ended September 30, Nine months ended September 30, (In millions) 2023 2022 2023 2022 Equity options $ (951) $ (449) $ 390 $ (2,728) Futures (73) (34) 22 (153) Swaps (24) 132 38 121 Foreign currency forwards 146 454 (191) 971 Embedded derivatives on funds withheld (780) (1,839) (439) (7,041) Amounts recognized in investment related gains (losses) (1,682) (1,736) (180) (8,830) Embedded derivatives in indexed annuity products 1 1,251 526 (277) 3,079 Total gains (losses) on derivatives not designated as hedges $ (431) $ (1,210) $ (457) $ (5,751) 1 Included in interest sensitive contract benefits on the condensed consolidated statements of income (loss). Credit Risk —We may be exposed to credit-related losses in the event of counterparty nonperformance on derivative financial instruments. Generally, the current credit exposure of our derivative contracts is the fair value at the reporting date less any collateral received from the counterparty. We manage credit risk related to over-the-counter derivatives by entering into transactions with creditworthy counterparties. Where possible, we maintain collateral arrangements and use master netting agreements that provide for a single net payment from one counterparty to another at each due date and upon termination. We have also established counterparty exposure limits, where possible, in order to evaluate if there is sufficient collateral to support the net exposure. Collateral arrangements typically require the posting of collateral in connection with its derivative instruments. Collateral agreements often contain posting thresholds, some of which may vary depending on the posting party’s financial strength ratings. Additionally, a decrease in our financial strength rating to a specified level can result in settlement of the derivative position. The estimated fair value of our net derivative and other financial assets and liabilities after the application of master netting agreements and collateral were as follows: Gross amounts not offset on the condensed consolidated balance sheets (In millions) Gross amount recognized 1 Financial instruments 2 Collateral (received)/pledged Net amount Off-balance sheet securities collateral 3 Net amount after securities collateral September 30, 2023 Derivative assets $ 4,571 $ (1,665) $ (3,140) $ (234) $ — $ (234) Derivative liabilities (1,892) 1,665 655 428 — 428 December 31, 2022 Derivative assets $ 3,309 $ (1,477) $ (1,952) $ (120) $ — $ (120) Derivative liabilities (1,646) 1,477 478 309 — 309 1 The gross amounts of recognized derivative assets and derivative liabilities are reported on the condensed consolidated balance sheets. As of September 30, 2023 and December 31, 2022, amounts not subject to master netting or similar agreements were immaterial. 2 Represents amounts offsetting derivative assets and derivative liabilities that are subject to an enforceable master netting agreement or similar agreement that are not netted against the gross derivative assets or gross derivative liabilities for presentation on the condensed consolidated balance sheets. 3 For non-cash collateral received, we do not recognize the collateral on our balance sheet unless the obligor (transferor) has defaulted under the terms of the secured contract and is no longer entitled to redeem the pledged asset. Amounts do not include any excess of collateral pledged or received.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	6. Variable Interest Entities We determined that we are required to consolidate certain Apollo-managed investment funds and other Apollo-managed structures. Since the criteria for the primary beneficiary are satisfied by our related party group, we are deemed the primary beneficiary. In addition, we consolidate certain securitization entities where we are deemed the primary beneficiary. No arrangement exists requiring us to provide additional funding in excess of our committed capital investment, liquidity, or the funding of losses or an increase to our loss exposure in excess of our investment in any of the consolidated VIEs. The following summarizes the income statement activity of the consolidated VIEs: Three months ended September 30, Nine months ended September 30, (In millions) 2023 2022 2023 2022 Trading securities $ 28 $ 10 $ 79 $ 10 Equity securities — 13 — 13 Mortgage loans 29 22 83 65 Investment funds 20 4 55 (5) Other investments (2) (16) (7) (3) Net investment income $ 75 $ 33 $ 210 $ 80 Net recognized investment losses on trading securities $ (16) $ (38) $ (15) $ (38) Net recognized investment losses on mortgage loans (25) (103) (45) (262) Net recognized investment gains on investment funds 292 236 833 354 Other gains (losses) (1) (16) (29) 5 Investment related gains (losses) $ 250 $ 79 $ 744 $ 59

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value	7. Fair Value Fair value is the price we would receive to sell an asset or pay to transfer a liability (exit price) in an orderly transaction between market participants. We determine fair value based on the following fair value hierarchy: Level 1 – Unadjusted quoted prices for identical assets or liabilities in an active market. Level 2 – Quoted prices for inactive markets or valuation techniques that require observable direct or indirect inputs for substantially the full term of the asset or liability. Level 2 inputs include the following: • Quoted prices for similar assets or liabilities in active markets, • Observable inputs other than quoted market prices, and • Observable inputs derived principally from market data through correlation or other means. Level 3 – Prices or valuation techniques with unobservable inputs significant to the overall fair value estimate. These valuations use critical assumptions not readily available to market participants. Level 3 valuations are based on market standard valuation methodologies, including discounted cash flows, matrix pricing or other similar techniques. Net Asset Value (NAV) – Investment funds are typically measured using NAV as a practical expedient in determining fair value and are not classified in the fair value hierarchy. Our carrying value reflects our pro rata ownership percentage as indicated by NAV in the investment fund financial statements, which we may adjust if we determine NAV is not calculated consistent with investment company fair value principles. The underlying investments of the investment funds may have significant unobservable inputs, which may include but are not limited to, comparable multiples and weighted average cost of capital rates applied in valuation models or a discounted cash flow model. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the instrument’s fair value measurement. We use a number of valuation sources to determine fair values. Valuation sources can include quoted market prices; third-party commercial pricing services; third-party brokers; industry-standard, vendor modeling software that uses market observable inputs; and other internal modeling techniques based on projected cash flows. We periodically review the assumptions and inputs of third-party commercial pricing services through internal valuation price variance reviews, comparisons to internal pricing models, back testing to recent trades, or monitoring trading volumes. The following represents the hierarchy for our assets and liabilities measured at fair value on a recurring basis: September 30, 2023 (In millions) Total NAV Level 1 Level 2 Level 3 Assets AFS securities US government and agencies $ 4,260 $ — $ 4,253 $ 7 $ — US state, municipal and political subdivisions 962 — — 962 — Foreign governments 915 — — 869 46 Corporate 67,301 — 9 64,911 2,381 CLO 18,926 — — 18,926 — ABS 10,807 — — 6,181 4,626 CMBS 5,496 — — 5,484 12 RMBS 7,048 — — 6,785 263 Total AFS securities 115,715 — 4,262 104,125 7,328 Trading securities 1,592 — 22 1,538 32 Equity securities 916 — 198 644 74 Mortgage loans 37,978 — — — 37,978 Funds withheld at interest – embedded derivative (4,981) — — — (4,981) Derivative assets 4,571 — 93 4,478 — Short-term investments 527 — — 398 129 Other investments 763 — — 286 477 Cash and cash equivalents 9,996 — 9,996 — — Restricted cash 1,218 — 1,218 — — Investments in related parties AFS securities Corporate 1,356 — — 170 1,186 CLO 4,235 — — 3,732 503 ABS 8,394 — — 555 7,839 Total AFS securities – related parties 13,985 — — 4,457 9,528 Trading securities 871 — — — 871 Equity securities 304 — 59 — 245 Mortgage loans 1,234 — — — 1,234 Investment funds 1,043 — — — 1,043 Funds withheld at interest – embedded derivative (972) — — — (972) Other investments 327 — — — 327 Reinsurance recoverable 1,301 — — — 1,301 Other assets 431 — — — 431 Assets of consolidated VIEs Trading securities 2,133 — — 275 1,858 Mortgage loans 2,042 — — — 2,042 Investment funds 15,090 13,688 — — 1,402 Other investments 94 — — 2 92 Cash and cash equivalents 152 — 152 — — Total assets measured at fair value $ 206,330 $ 13,688 $ 16,000 $ 116,203 $ 60,439 Liabilities Interest sensitive contract liabilities Embedded derivative $ 7,345 $ — $ — $ — $ 7,345 Universal life benefits 739 — — — 739 Future policy benefits AmerUs Life Insurance Company (AmerUs) Closed Block 1,100 — — — 1,100 Indianapolis Life Insurance Company (ILICO) Closed Block and life benefits 551 — — — 551 Market risk benefits 3,021 — — — 3,021 Derivative liabilities 1,892 — 43 1,848 1 Other liabilities 124 — — (89) 213 Total liabilities measured at fair value $ 14,772 $ — $ 43 $ 1,759 $ 12,970 December 31, 2022 (In millions) Total NAV Level 1 Level 2 Level 3 Assets AFS securities US government and agencies $ 2,577 $ — $ 2,570 $ 7 $ — US state, municipal and political subdivisions 927 — — 927 — Foreign governments 907 — — 906 1 Corporate 60,901 — — 59,236 1,665 CLO 16,493 — — 16,493 — ABS 10,527 — — 5,660 4,867 CMBS 4,158 — — 4,158 — RMBS 5,914 — — 5,682 232 Total AFS securities 102,404 — 2,570 93,069 6,765 Trading securities 1,595 — 23 1,519 53 Equity securities 1,087 — 150 845 92 Mortgage loans 27,454 — — — 27,454 Funds withheld at interest – embedded derivative (4,847) — — — (4,847) Derivative assets 3,309 — 42 3,267 — Short-term investments 520 — 29 455 36 Other investments 611 — — 170 441 Cash and cash equivalents 7,779 — 7,779 — — Restricted cash 628 — 628 — — Investments in related parties AFS securities Corporate 982 — — 170 812 CLO 3,079 — — 2,776 303 ABS 5,760 — — 218 5,542 Total AFS securities – related parties 9,821 — — 3,164 6,657 Trading securities 878 — — — 878 Equity securities 279 — — — 279 Mortgage loans 1,302 — — — 1,302 Investment funds 959 — — — 959 Funds withheld at interest – embedded derivative (1,425) — — — (1,425) Other investments 303 — — — 303 Reinsurance recoverable 1,388 — — — 1,388 Other assets 481 — — — 481 Assets of consolidated VIEs Trading securities 1,063 — 5 436 622 Mortgage loans 2,055 — — — 2,055 Investment funds 12,480 10,009 — — 2,471 Other investments 101 — — 2 99 Cash and cash equivalents 362 — 362 — — Total assets measured at fair value $ 170,587 $ 10,009 $ 11,588 $ 102,927 $ 46,063 Liabilities Interest sensitive contract liabilities Embedded derivative $ 5,841 $ — $ — $ — $ 5,841 Universal life benefits 829 — — — 829 Future policy benefits AmerUs Closed Block 1,164 — — — 1,164 ILICO Closed Block and life benefits 548 — — — 548 Market risk benefits 2,970 — — — 2,970 Derivative liabilities 1,646 — 38 1,607 1 Other liabilities 65 — — (77) 142 Total liabilities measured at fair value $ 13,063 $ — $ 38 $ 1,530 $ 11,495 Fair Value Valuation Methods —We used the following valuation methods and assumptions to estimate fair value: AFS and trading securities – We obtain the fair value for most marketable securities without an active market from several commercial pricing services. These are classified as Level 2 assets. The pricing services incorporate a variety of market observable information in their valuation techniques, including benchmark yields, trading activity, credit quality, issuer spreads, bids, offers and other reference data. This category typically includes US and non-US corporate bonds, US agency and government guaranteed securities, CLO, ABS, CMBS and RMBS. We also have fixed maturity securities priced based on indicative broker quotes or by employing market accepted valuation models. For certain fixed maturity securities, the valuation model uses significant unobservable inputs and are included in Level 3 in our fair value hierarchy. Significant unobservable inputs used include: discount rates, issue-specific credit adjustments, material non-public financial information, estimation of future earnings and cash flows, default rate assumptions, liquidity assumptions and indicative quotes from market makers. These inputs are usually considered unobservable, as not all market participants have access to this data. We value privately placed fixed maturity securities based on the credit quality and duration of comparable marketable securities, which may be securities of another issuer with similar characteristics. In some instances, we use a matrix-based pricing model. These models consider the current level of risk-free interest rates, corporate spreads, credit quality of the issuer and cash flow characteristics of the security. We also consider additional factors such as net worth of the borrower, value of collateral, capital structure of the borrower, presence of guarantees and our evaluation of the borrower’s ability to compete in its relevant market. Privately placed fixed maturity securities are classified as Level 2 or 3. Equity securities – Fair values of publicly traded equity securities are based on quoted market prices and classified as Level 1. Other equity securities, typically private equities or equity securities not traded on an exchange, we value based on other sources, such as commercial pricing services or brokers, and are classified as Level 2 or 3. Mortgage loans – We estimate fair value on a monthly basis using discounted cash flow analysis and rates being offered for similar loans to borrowers with similar credit ratings. Loans with similar characteristics are aggregated for purposes of the calculations. The discounted cash flow model uses unobservable inputs, including estimates of discount rates and loan prepayments. Mortgage loans are classified as Level 3. Investment funds – Certain investment funds for which we elected the fair value option are included in Level 3 and are priced based on market accepted valuation models. The valuation models use significant unobservable inputs, which include material non-public financial information, estimation of future distributable earnings and demographic assumptions. These inputs are usually considered unobservable, as not all market participants have access to this data. Other investments – The fair value of other investments are determined using a discounted cash flow model using discount rates for similar investments. Funds withheld at interest embedded derivative – We estimate the fair value of the embedded derivative based on the change in the fair value of the assets supporting the funds withheld payable under modco and funds withheld reinsurance agreements. As a result, the fair value of the embedded derivative is classified as Level 2 or 3 based on the valuation methods used for the assets held supporting the reinsurance agreements. Derivatives – Derivative contracts can be exchange traded or over-the-counter. Exchange-traded derivatives typically fall within Level 1 of the fair value hierarchy depending on trading activity. Over-the-counter derivatives are valued using valuation models or an income approach using third-party broker valuations. Valuation models require a variety of inputs, including contractual terms, market prices, yield curves, credit curves, measures of volatility, prepayment rates and correlation of the inputs. We consider and incorporate counterparty credit risk in the valuation process through counterparty credit rating requirements and monitoring of overall exposure. We also evaluate and include our own nonperformance risk in valuing derivatives. The majority of our derivatives trade in liquid markets; therefore, we can verify model inputs and model selection does not involve significant management judgment. These are typically classified within Level 2 of the fair value hierarchy. Cash and cash equivalents, including restricted cash – The carrying amount for cash equals fair value. We estimate the fair value for cash equivalents based on quoted market prices. These assets are classified as Level 1. Other assets and market risk benefits – Other assets at fair value consists of market risk benefit assets. See Note 9 – Long-duration Contracts for additional information on market risk benefits valuation methodology and additional fair value disclosures. The estimates are classified as Level 3. Interest sensitive contract liabilities embedded derivative – Embedded derivatives related to interest sensitive contract liabilities with fixed indexed annuity products are classified as Level 3. The valuations include significant unobservable inputs associated with economic assumptions and actuarial assumptions for policyholder behavior. AmerUs Closed Block – We elected the fair value option for the future policy benefits liability in the AmerUs Closed Block. Our valuation technique is to set the fair value of policyholder liabilities equal to the fair value of assets. There is an additional component which captures the fair value of the open block’s obligations to the closed block business. This component is the present value of the projected release of required capital and future earnings before income taxes on required capital supporting the AmerUs Closed Block, discounted at a rate which represents a market participant’s required rate of return, less the initial required capital. Unobservable inputs include estimates for these items. The AmerUs Closed Block policyholder liabilities and any corresponding reinsurance recoverable are classified as Level 3. ILICO Closed Block – We elected the fair value option for the ILICO Closed Block. Our valuation technique is to set the fair value of policyholder liabilities equal to the fair value of assets. There is an additional component which captures the fair value of the open block’s obligations to the closed block business. This component uses the present value of future cash flows which include commissions, administrative expenses, reinsurance premiums and benefits, and an explicit cost of capital. The discount rate includes a margin to reflect the business and nonperformance risk. Unobservable inputs include estimates for these items. The ILICO Closed Block policyholder liabilities and corresponding reinsurance recoverable are classified as Level 3. Universal life liabilities and other life benefits – We elected the fair value option for certain blocks of universal and other life business ceded to Global Atlantic. We use a present value of liability cash flows. Unobservable inputs include estimates of mortality, persistency, expenses, premium payments and a risk margin used in the discount rates that reflects the riskiness of the business. These universal life policyholder liabilities and corresponding reinsurance recoverable are classified as Level 3. Other liabilities – Other liabilities includes funds withheld liability, as described above in funds withheld at interest embedded derivative, and a ceded modco agreement of certain inforce funding agreement contracts for which we elected the fair value option. We estimate the fair value of the ceded modco agreement by discounting projected cash flows for net settlements and certain periodic and non-periodic payments. Unobservable inputs include estimates for asset portfolio returns and economic inputs used in the discount rate, including risk margin. Depending on the projected cash flows and other assumptions, the contract may be recorded as an asset or liability. The estimate is classified as Level 3. Fair Value Option — The following represents the gains (losses) recorded for instruments for which we have elected the fair value option, including related parties and consolidated VIEs: Three months ended September 30, Nine months ended September 30, (In millions) 2023 2022 2023 2022 Trading securities $ (137) $ (121) $ (105) $ (489) Mortgage loans (984) (1,279) (909) (3,344) Investment funds (66) (47) 25 9 Future policy benefits 59 90 64 363 Other liabilities (4) — (71) — Total gains (losses) $ (1,132) $ (1,357) $ (996) $ (3,461) Gains and losses on trading securities and other liabilities are recorded in investment related gains (losses) on the condensed consolidated statements of income (loss). For fair valu e option mortgage loans, we record interest income in net investment income and subsequent changes in fair value in investment related gains (losses) on the condensed consolidated statements of income (loss). Gains and losses related to investment funds, including related party investment funds, are recorded in net investment income on the condensed consolidated statements of income (loss). We record the change in fair value of future policy benefits to future policy and other policy benefits on the condensed consolidated statements of income (loss). The following summarizes information for fair value option mortgage loans, including related parties and consolidated VIEs: (In millions) September 30, 2023 December 31, 2022 Unpaid principal balance $ 45,170 $ 33,653 Mark to fair value (3,916) (2,842) Fair value $ 41,254 $ 30,811 The following represents our commercial mortgage loan portfolio 90 days or more past due and/or in non-accrual status: (In millions) September 30, 2023 December 31, 2022 Unpaid principal balance of commercial mortgage loans 90 days or more past due and/or in non-accrual status $ 161 $ 74 Mark to fair value of commercial mortgage loans 90 days or more past due and/or in non-accrual status (62) (55) Fair value of commercial mortgage loans 90 days or more past due and/or in non-accrual status $ 99 $ 19 Fair value of commercial mortgage loans 90 days or more past due $ 40 $ 2 Fair value of commercial mortgage loans in non-accrual status 59 19 The following represents our residential loan portfolio 90 days or more past due and/or in non-accrual status: (In millions) September 30, 2023 December 31, 2022 Unpaid principal balance of residential mortgage loans 90 days or more past due and/or in non-accrual status $ 495 $ 522 Mark to fair value of residential mortgage loans 90 days or more past due and/or in non-accrual status (57) (50) Fair value of residential mortgage loans 90 days or more past due and/or in non-accrual status $ 438 $ 472 Fair value of residential mortgage loans 90 days or more past due 1 $ 438 $ 472 Fair value of residential mortgage loans in non-accrual status 312 360 1 As of September 30, 2023 and December 31, 2022 includes $126 million and $221 million, respectively, of residential mortgage loans that are guaranteed by US government-sponsored agencies. The following is the estimated amount of gains (losses) included in earnings during the period attributable to changes in instrument-specific credit risk on our mortgage loan portfolio: Three months ended September 30, Nine months ended September 30, (In millions) 2023 2022 2023 2022 Mortgage loans $ (20) $ 18 $ (31) $ (34) We estimated the portion of gains and losses attributable to changes in instrument-specific credit risk by identifying commercial loans with loan-to-value ratios meeting credit quality criteria, and residential mortgage loans with delinquency status meeting credit quality criteria. Level 3 Financial Instruments — The following are reconciliations for Level 3 assets and liabilities measured at fair value on a recurring basis. Transfers in and out of Level 3 are primarily based on changes in the availability of pricing sources, as described in the valuation methods above. Three months ended September 30, 2023 Total realized and unrealized gains (losses) (In millions) Beginning balance Included in income Included in OCI Net purchases, issuances, sales and settlements Net transfers in (out) Ending balance Total gains (losses) included in earnings 1 Total gains (losses) included in OCI 1 Assets AFS securities Foreign governments $ 48 $ — $ (2) $ — — $ 46 $ — $ (2) Corporate 2,460 (8) (25) (26) (20) 2,381 — (27) ABS 5,305 — 14 (255) (438) 4,626 — 4 CMBS 12 — — — — 12 — — RMBS 6 — — 261 (4) 263 — — Trading securities 38 (1) — (5) — 32 (1) — Equity securities 67 7 — — — 74 7 — Mortgage loans 34,668 (850) — 4,160 — 37,978 (850) — Funds withheld at interest – embedded derivative (4,356) (625) — — — (4,981) — — Short-term investments 30 — (1) 100 — 129 — (1) Other investments 337 (5) — 145 — 477 (5) — Investments in related parties AFS securities Corporate 1,171 1 (10) 24 — 1,186 — (10) CLO 495 — 8 — — 503 — 8 ABS 7,742 (2) (11) 110 — 7,839 (6) (14) Trading securities 867 4 — — — 871 3 — Equity securities 252 (7) — — — 245 (7) — Mortgage loans 1,296 (61) — (1) — 1,234 (61) — Investment funds 1,061 (18) — — — 1,043 (18) — Funds withheld at interest – embedded derivative (1,297) 325 — — — (972) — — Other investments 343 (16) — — — 327 (16) — Reinsurance recoverable 1,436 (135) — — — 1,301 — — Assets of consolidated VIEs Trading securities 1,425 (48) — (45) 526 1,858 (48) — Mortgage loans 2,113 (73) — 2 — 2,042 (73) — Investment funds 1,351 (30) — 81 — 1,402 (30) — Other investments 99 5 — (12) — 92 5 — Total Level 3 assets $ 56,969 $ (1,537) $ (27) $ 4,539 $ 64 $ 60,008 $ (1,100) $ (42) Liabilities Interest sensitive contract liabilities Embedded derivative $ (8,198) $ 1,251 $ — $ (398) $ — $ (7,345) $ — $ — Universal life benefits (854) 115 — — — (739) — — Future policy benefits AmerUs Closed Block (1,159) 59 — — — (1,100) — — ILICO Closed Block and life benefits (571) 20 — — — (551) — — Derivative liabilities (1) — — — — (1) — — Other liabilities (209) (4) — — — (213) — — Total Level 3 liabilities $ (10,992) $ 1,441 $ — $ (398) $ — $ (9,949) $ — $ — 1 Related to instruments held at end of period. Three months ended September 30, 2022 Total realized and unrealized gains (losses) (In millions) Beginning balance Included in income Included in OCI Net purchases, issuances, sales and settlements Net transfers in (out) Ending balance Total gains (losses) included in earnings 1 Total gains (losses) included in OCI 1 Assets AFS securities Foreign governments $ 2 $ — $ — $ — $ — $ 2 $ — $ — Corporate 1,588 (16) (58) 205 (57) 1,662 — (55) CLO — — — 3 — 3 — — ABS 3,594 2 (50) 198 104 3,848 — (60) RMBS 68 — (1) (1) (66) — — — Trading securities 58 (4) — (2) 2 54 (4) — Equity securities 62 10 — — — 72 11 — Mortgage loans 25,218 (1,117) — 1,044 — 25,145 (1,111) — Investment funds 19 — — — (19) — — — Funds withheld at interest – embedded derivative (3,958) (1,301) — — — (5,259) — — Short-term investments 58 — — (23) — 35 — — Other investments — — — — 496 496 — — Investments in related parties AFS securities Corporate 849 1 (17) 114 (94) 853 — (15) CLO 325 — (14) — — 311 — (14) ABS 5,026 (3) (73) 284 94 5,328 — (73) Trading securities 891 4 — 5 5 905 4 — Equity securities 163 (18) — 195 — 340 (18) — Mortgage loans 1,416 (82) — (3) — 1,331 (82) — Investment funds 818 (29) — — — 789 (29) — Funds withheld at interest – embedded derivative (1,129) (442) — — — (1,571) — — Other investments — — — — 274 274 — — Reinsurance recoverable 1,580 (104) — — — 1,476 — — Assets of consolidated VIEs Trading securities 330 (7) — 529 (232) 620 (7) — Equity securities — — — — 15 15 — — Mortgage loans 1,626 (80) — 96 21 1,663 (79) — Investment funds 1,053 (19) — 1,694 (422) 2,306 (19) — Other investments 31 — — — 105 136 — — Total Level 3 assets $ 39,688 $ (3,205) $ (213) $ 4,338 $ 226 $ 40,834 $ (1,334) $ (217) Liabilities Interest sensitive contract liabilities Embedded derivative $ (5,176) $ 526 $ — $ (348) $ — $ (4,998) $ — $ — Universal life benefits (943) 91 — — — (852) — — Future policy benefits AmerUs Closed Block (1,247) 90 — — — (1,157) — — ILICO Closed Block and life benefits (623) 11 — — — (612) — — Derivative liabilities (1) — — — — (1) — — Total Level 3 liabilities $ (7,990) $ 718 $ — $ (348) $ — $ (7,620) $ — $ — 1 Related to instruments held at end of period. Nine months ended September 30, 2023 Total realized and unrealized gains (losses) (In millions) Beginning balance Included in income Included in OCI Net purchases, issuances, sales and settlements Net transfers in (out) Ending balance Total gains (losses) included in earnings 1 Total gains (losses) included in OCI 1 Assets AFS securities Foreign governments $ 1 $ — $ (2) $ 47 $ — $ 46 $ — $ (2) Corporate 1,665 (9) (1) 1,170 (444) 2,381 — (7) ABS 4,867 — (36) 794 (999) 4,626 — (49) CMBS — — — — 12 12 — (1) RMBS 232 6 2 258 (235) 263 — — Trading securities 53 2 — (12) (11) 32 — — Equity securities 92 (5) — — (13) 74 (5) — Mortgage loans 27,454 (794) — 11,318 — 37,978 (792) — Funds withheld at interest – embedded derivative (4,847) (134) — — — (4,981) — — Short-term investments 36 — (3) 70 26 129 — (1) Other investments 441 (5) — 41 — 477 (7) — Investments in related parties AFS securities Corporate 812 2 (18) 175 215 1,186 — (18) CLO 303 — 15 185 — 503 — 15 ABS 5,542 7 38 1,968 284 7,839 (2) 32 Trading securities 878 6 — (13) — 871 3 — Equity securities 279 (2) — (32) — 245 (3) — Mortgage loans 1,302 (44) — (24) — 1,234 (44) — Investment funds 959 52 — 32 — 1,043 53 — Funds withheld at interest – embedded derivative (1,425) 453 — — — (972) — — Other investments 303 (18) — 42 — 327 (19) — Reinsurance recoverable 1,388 (87) — — — 1,301 — — Assets of consolidated VIEs Trading securities 622 (40) — (55) 1,331 1,858 (40) — Mortgage loans 2,055 (71) — 58 — 2,042 (71) — Investment funds 2,471 (7) — 73 (1,135) 1,402 (7) — Other investments 99 7 — (14) — 92 7 — Total Level 3 assets $ 45,582 $ (681) $ (5) $ 16,081 $ (969) $ 60,008 $ (927) $ (31) Liabilities Interest sensitive contract liabilities Embedded derivative $ (5,841) $ (277) $ — $ (1,227) $ — $ (7,345) $ — $ — Universal life benefits (829) 90 — — — (739) — — Future policy benefits AmerUs Closed Block (1,164) 64 — — — (1,100) — — ILICO Closed Block and life benefits (548) (3) — — — (551) — — Derivative liabilities (1) — — — — (1) — — Other liabilities (142) (71) — — — (213) — — Total Level 3 liabilities $ (8,525) $ (197) $ — $ (1,227) $ — $ (9,949) $ — $ — 1 Related to instruments held at end of period. Nine months ended September 30, 2022 Total realized and unrealized gains (losses) (In millions) January 1, 2022 Included in income Included in OCI Net purchases, issuances, sales and settlements Net transfers in (out) Ending balance Total gains (losses) included in earnings 1 Total gains (losses) included in OCI 1 Assets AFS securities Foreign governments $ 2 $ — $ — $ — $ — $ 2 $ — $ — Corporate 1,339 (19) (135) 385 92 1,662 — (120) CLO 14 (2) — (9) — 3 — — ABS 3,619 9 (145) 198 167 3,848 — (116) CMBS 43 — (17) — (26) — — — RMBS — — (1) 67 (66) — — — Trading securities 69 (10) — 6 (11) 54 (4) — Equity securities 429 27 — (3) (381) 72 25 — Mortgage loans 21,154 (2,888) — 6,879 — 25,145 (2,878) — Investment funds 18 1 — — (19) — — — Funds withheld at interest – embedded derivative — (5,259) — — — (5,259) — — Short-term investments 29 — (1) 7 — 35 — (1) Other investments — — — — 496 496 — — Investments in related parties AFS securities Corporate 670 (3) (23) 250 (41) 853 — (22) CLO 202 — (21) 130 — 311 — (21) ABS 6,445 (4) (208) (957) 52 5,328 — (193) Trading securities 1,771 3 — (1,057) 188 905 (4) — Equity securities 284 (32) — 76 12 340 (27) — Mortgage loans 1,369 (206) — 168 — 1,331 (206) — Investment funds 2,855 (1) — (34) (2,031) 789 (1) — Funds withheld at interest – embedded derivative — (1,571) — — — (1,571) — — Short-term investments — — — 53 (53) — — — Other investments — — — — 274 274 — — Reinsurance recoverable 1,991 (515) — — — 1,476 — — Assets of consolidated VIEs Trading securities — (7) — 529 98 620 (7) — Equity securities — — — — 15 15 — — Mortgage loans 2,152 (250) — (58) (181) 1,663 (250) — Investment funds 1,297 9 — 1,855 (855) 2,306 9 — Other investments — — — 31 105 136 — — Total Level 3 assets $ 45,752 $ (10,718) $ (551) $ 8,516 $ (2,165) $ 40,834 $ (3,343) $ (473) Liabilities Interest sensitive contract liabilities Embedded derivative $ (7,408) $ 3,079 $ — $ (669) $ — $ (4,998) $ — $ — Universal life benefits (1,235) 383 — — — (852) — — Future policy benefits AmerUs Closed Block (1,520) 363 — — — (1,157) — — ILICO Closed Block and life benefits (742) 130 — — — (612) — — Derivative liabilities (3) 2 — — — (1) — — Total Level 3 liabilities $ (10,908) $ 3,957 $ — $ (669) $ — $ (7,620) $ — $ — 1 Related to instruments held at end of period. The following represents the gross components of purchases, issuances, sales and settlements, net, and net transfers in (out) shown above: Three months ended September 30, 2023 (In millions) Purchases Issuances Sales Settlements Net purchases, issuances, sales and settlements Transfers in Transfers out Net transfers in (out) Assets AFS securities Corporate $ 26 $ — $ — $ (52) $ (26) $ — $ (20) $ (20) ABS 221 — (13) (463) (255) 357 (795) (438) RMBS 261 — — — 261 — (4) (4) Trading securities — — — (5) (5) — — — Mortgage loans 5,696 — (285) (1,251) 4,160 — — — Short-term investments 100 — — — 100 — — — Other investments 145 — — — 145 — — — Investments in related parties AFS securities Corporate 27 — — (3) 24 — — — ABS 426 — — (316) 110 — — — Trading securities 1 — (1) — — — — — Mortgage loans — — — (1) (1) — — — Assets of consolidated VIEs Trading securities 6 — (51) — (45) 526 — 526 Mortgage loans 4 — — (2) 2 — — — Investment funds 113 — (32) — 81 — — — Other investments 2 — (14) — (12) — — — Total Level 3 assets $ 7,028 $ — $ (396) $ (2,093) $ 4,539 $ 883 $ (819) $ 64 Liabilities Interest sensitive contract liabilities – embedded derivative $ — $ (573) $ — $ 175 $ (398) $ — $ — $ — Total Level 3 liabilities $ — $ (573) $ — $ 175 $ (398) $ — $ — $ — Three months ended September 30, 2022 (In millions) Purchases Issuances Sales Settlements Net purchases, issuances, sales and settlements Transfers in Transfers out Net transfers in (out) Assets AFS securities Corporate $ 228 $ — $ (3) $ (20) $ 205 $ 83 $ (140) $ (57) CLO 3 — — — 3 — — — ABS 344 — — (146) 198 116 (12) 104 RMBS — — — (1) (1) — (66) (66) Trading securities — — — (2) (2) 3 (1) 2 Mortgage loans 1,900 — (51) (805) 1,044 — — — Investment funds — — — — — — (19) (19) Short-term investments — — — (23) (23) — — — Other investments — — — — — 496 — 496 Investments in related parties AFS securities Corporate 116 — — (2) 114 — (94) (94) ABS 887 — — (603) 284 94 — 94 Trading securities 5 — — — 5 5 — 5 Equity securities 195 — — — 195 — — — Mortgage loans — — — (3) (3) — — — Other investments — — — — — 274 — 274 Assets of consolidated VIEs Trading securities 529 — — — 529 100 (332) (232) Equity securities — — — — — 15 — 15 Mortgage loans 102 — — (6) 96 21 — 21 Investment funds 1,695 — (1) — 1,694 — (422) (422) Other investments — — — — — 105 — 105 Total Level 3 assets $ 6,004 $ — $ (55) $ (1,611) $ 4,338 $ 1,312 $ (1,086) $ 226 Liabilities Interest sensitive contract liabilities – embedded derivative $ — $ (456) $ — $ 108 $ (348) $ — $ — $ — Total Level 3 liabilities $ — $ (456) $ — $ 108 $ (348) $ — $ — $ — Nine months ended September 30, 2023 (In millions) Purchases Issuances Sales Settlements Net purchases, issuances, sales and settlements Transfers in Transfers out Net transfers in (out) Assets AFS securities Foreign governments $ 53 $ — $ — $ (6) $ 47 $ — $ — $ — Corporate 1,338 — — (168) 1,170 29 (473) (444) ABS 1,552 — (33) (725) 794 695 (1,694) (999) CMBS — — — — — 12 — 12 RMBS 262 — — (4) 258 5 (240) (235) Trading securities 8 — — (20) (12) 5 (16) (11) Equity securities — — — — — — (13) (13) Mortgage loans 14,361 — (348) (2,695) 11,318 — — — Short-term investments 100 — — (30) 70 26 — 26 Other investments 472 — — (431) 41 — — — Investments in related parties AFS securities Corporate 184 — — (9) 175 215 — 215 CLO 185 — — — 185 — — — ABS 3,132 — (162) (1,002) 1,968 284 — 284 Trading securities 28 — (38) (3) (13) — — — Equity securities — — — (32) (32) — — — Mortgage loans — — — (24) (24) — — — Investment funds 32 — — — 32 — — — Other investments 42 — — — 42 — — — Assets of consolidated VIEs Trading securities 26 — (81) — (55) 1,362 (31) 1,331 Mortgage loans 63 — — (5) 58 — — — Investment funds 113 — (40) — 73 475 (1,610) (1,135) Other investments 7 — (21) — (14) — — — Total Level 3 assets $ 21,958 $ — $ (723) $ (5,154) $ 16,081 $ 3,108 $ (4,077) $ (969) Liabilities Interest sensitive contract liabilities – embedded derivative $ — $ (1,708) $ — $ 481 $ (1,227) $ — $ — $ — Total Level 3 liabilities $ — $ (1,708) $ — $ 481 $ (1,227) $ — $ — $ — Nine months ended September 30, 2022 (In millions) Purchases Issuances Sales Settlements Net purchases, issuances, sales and settlements Transfers in 1 Transfers out 1 Net transfers in (out) Assets AFS securities Corporate $ 681 $ — $ (173) $ (123) $ 385 $ 276 $ (184) $ 92 CLO 3 — — (12) (9) — — — ABS 2,579 — (1,791) (590) 198 484 (317) 167 CMBS — — — — — — (26) (26) RMBS 68 — — (1) 67 — (

Deferred Acquisition Costs, Def

Deferred Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired	9 Months Ended
	Sep. 30, 2023
Insurance [Abstract]
Deferred Acquisition Costs, Deferred Sales Inducements, and Value of Business Acquired	8. Deferred Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired The following represents a rollforward of DAC and DSI by product, and a rollforward of VOBA. See Note 9 – Long-duration Contracts for more information on our products. Nine months ended September 30, 2023 DAC DSI VOBA Total DAC, DSI and VOBA (In millions) Traditional deferred annuities Indexed annuities Funding agreements Other investment-type Indexed annuities Balance at December 31, 2022 $ 304 $ 755 $ 11 $ 9 $ 399 $ 2,988 $ 4,466 Additions 426 609 2 3 447 — 1,487 Amortization (74) (69) (3) (1) (40) (315) (502) Other — — — — — (3) (3) Balance at September 30, 2023 $ 656 $ 1,295 $ 10 $ 11 $ 806 $ 2,670 $ 5,448 Nine months ended September 30, 2022 DAC DSI VOBA Total DAC, DSI and VOBA (In millions) Traditional deferred annuities Indexed annuities Funding agreements Other investment-type Indexed annuities Balance at January 1, 2022 $ — $ — $ — $ — $ — $ 3,372 $ 3,372 Additions 175 555 13 7 266 — 1,016 Amortization (5) (17) (2) — (5) (289) (318) Balance at September 30, 2022 $ 170 $ 538 $ 11 $ 7 $ 261 $ 3,083 $ 4,070 Deferred costs related to universal life-type policies and investment contracts with significant revenue streams from sources other than investment of the policyholder funds, including traditional deferred annuities and indexed annuities, are amortized on a constant-level basis for a cohort of contracts using initial premium or deposit. Significant inputs and assumptions are required for determining the expected duration of the cohort and involves using accepted actuarial methods to determine decrement rates related to policyholder behavior for lapses, withdrawals (surrenders) and mortality. The assumptions used to determine the amortization of DAC and DSI are consistent with those used to estimate the related liability balance. Deferred costs related to investment contracts without significant revenue streams from sources other than investment of policyholder funds are amortized using the effective interest method, which primarily includes funding agreements. The effective interest method requires inputs to project future cash flows, which for funding agreements includes contractual terms of notional value, periodic interest payments based on either fixed or floating interest rates, and duration. For other investment-type contracts which include immediate annuities and assumed endowments without significant mortality risks, assumptions are required related to policyholder behavior for lapses and withdrawals (surrenders). The expected amortization of VOBA for the next five years is as follows: (In millions) Expected amortization 2023 1 $ 87 2024 324 2025 292 2026 260 2027 228 2028 197 1 Expected amortization for the remainder of 2023.

Long-duration Contracts

Long-duration Contracts	9 Months Ended
	Sep. 30, 2023
Insurance [Abstract]
Long-duration Contracts	9. Long-duration Contracts Interest sensitive contract liabilities – Interest sensitive contract liabilities primarily include: ▪ traditional deferred annuities, ▪ indexed annuities consisting of fixed indexed and index-linked variable annuities, ▪ funding agreements, and ▪ other investment-type contracts comprising of immediate annuities without significant mortality risk (which includes pension group annuities without life contingencies) and assumed endowments without significant mortality risks. The following represents a rollforward of the policyholder account balance by product within interest sensitive contract liabilities. Where explicit policyholder account balances do not exist, the disaggregated rollforward represents the recorded reserve. Nine months ended September 30, 2023 (In millions, except percentages) Traditional deferred annuities Indexed annuities Funding agreements Other investment-type Total Balance at December 31, 2022 $ 43,518 $ 92,660 $ 27,439 $ 4,722 $ 168,339 Deposits 18,011 8,960 4,893 3,760 35,624 Policy charges (2) (481) — — (483) Surrenders and withdrawals (8,207) (8,292) (110) (25) (16,634) Benefit payments (738) (1,216) (2,264) (223) (4,441) Interest credited 1,284 802 628 110 2,824 Foreign exchange (77) (1) (26) (344) (448) Other 1 63 77 (46) (1,419) (1,325) Balance at September 30, 2023 $ 53,852 $ 92,509 $ 30,514 $ 6,581 $ 183,456 September 30, 2023 Weighted average crediting rate 3.7 % 2.3 % 3.1 % 2.7 % 2.9 % Net amount at risk $ 425 $ 14,438 $ — $ 104 $ 14,967 Cash surrender value 50,352 84,052 — 5,335 139,739 1 Other includes a $1,371 million reduction of reserves related to the Venerable Insurance and Annuity Company (VIAC) recapture agreement. See Note 13 – Related Parties for further information. Nine months ended September 30, 2022 (In millions, except percentages) Traditional deferred annuities Indexed annuities Funding agreements Other investment-type Total Balance at January 1, 2022 $ 35,599 $ 89,755 $ 23,623 $ 2,413 $ 151,390 Deposits 7,475 8,110 6,770 1,995 24,350 Policy charges (2) (441) — — (443) Surrenders and withdrawals (3,435) (5,679) (505) (9) (9,628) Benefit payments (703) (1,215) (2,659) (249) (4,826) Interest credited 718 1,487 474 64 2,743 Foreign exchange — — (899) (109) (1,008) Other — — (693) (17) (710) Balance at September 30, 2022 $ 39,652 $ 92,017 $ 26,111 $ 4,088 $ 161,868 September 30, 2022 Weighted average crediting rate 2.9 % 2.1 % 2.2 % 2.9 % 2.3 % Net amount at risk $ 421 $ 13,169 $ — $ 36 $ 13,626 Cash surrender value 37,777 83,705 — 1,686 123,168 The following is a reconciliation of interest sensitive contract liabilities to the condensed consolidated balance sheets: September 30, (In millions) 2023 2022 Traditional deferred annuities $ 53,852 $ 39,652 Indexed annuities 92,509 92,017 Funding agreements 30,514 26,111 Other investment-type 6,581 4,088 Reconciling items 1 5,609 5,010 Interest sensitive contract liabilities $ 189,065 $ 166,878 1 Reconciling items primarily include embedded derivatives in indexed annuities, unaccreted host contract adjustments on indexed annuities, negative VOBA, sales inducement liabilities and wholly ceded universal life insurance contracts. The following represents policyholder account balances by range of guaranteed minimum crediting rates, as well as the related range of the difference between rates being credited to policyholders and the respective guaranteed minimums: September 30, 2023 (In millions) At guaranteed minimum 1 basis point – 100 basis points above guaranteed minimum Greater than 100 basis points above guaranteed minimum Total < 2.0% $ 28,564 $ 19,709 $ 90,121 $ 138,394 2.0% – < 4.0% 28,838 1,128 541 30,507 4.0% – < 6.0% 11,433 9 1 11,443 6.0% and greater 3,112 — — 3,112 Total $ 71,947 $ 20,846 $ 90,663 $ 183,456 September 30, 2022 (In millions) At guaranteed minimum 1 basis point – 100 basis points above guaranteed minimum Greater than 100 basis points above guaranteed minimum Total < 2.0% $ 25,599 $ 26,909 $ 65,484 $ 117,992 2.0% – < 4.0% 37,150 1,491 477 39,118 4.0% – < 6.0% 4,611 11 6 4,628 6.0% and greater 130 — — 130 Total $ 67,490 $ 28,411 $ 65,967 $ 161,868 Future policy benefits – Future policy benefits consist primarily of payout annuities, including single premium immediate annuities with life contingencies (which include pension group annuities with life contingencies). The following is a rollforward of the expected value of future policy benefits: Payout annuities with life contingencies Nine months ended September 30, (In millions) 2023 2022 Present value of expected future policy benefits Beginning balance $ 36,422 $ 35,278 Effect of changes in discount rate assumptions 8,425 — Beginning balance at original discount rate 44,847 35,278 Effect of changes in cash flow assumptions (297) — Effect of actual experience compared to expected experience (36) (115) Adjusted balance 44,514 35,163 Issuances 9,120 10,666 Interest accrual 1,194 802 Benefit payments (2,731) (2,193) Foreign exchange 5 (90) Other 1 (1,509) — Ending balance at original discount rate 50,593 44,348 Effect of changes in discount rate assumptions (9,753) (8,833) Ending balance $ 40,840 $ 35,515 1 Other represents $1,509 million reduction of reserves related to the VIAC recapture agreement. See Note 13 – Related Parties for further information. The following is a reconciliation of future policy benefits to the condensed consolidated balance sheets: September 30, (In millions) 2023 2022 Payout annuities with life contingencies $ 40,840 $ 35,515 Reconciling items 1 5,832 5,770 Future policy benefits $ 46,672 $ 41,285 1 Reconciling items primarily include the deferred profit liability and negative VOBA associated with our liability for future policy benefits. Additionally, it includes reserves for our immaterial lines of business including term and whole life, accident and health and disability, as well as other insurance benefit reserves for our no-lapse guarantees with universal life contracts, all of which are fully ceded. The following is a reconciliation of premiums to the condensed consolidated statements of income (loss): Nine months ended September 30, (In millions) 2023 2022 Payout annuities with life contingencies $ 9,142 $ 10,745 Reconciling items 1 21 24 Premiums $ 9,163 $ 10,769 1 Reconciling items premiums related to our immaterial lines of business including term and whole life, and accident and health and disability. Gross premiums are recorded within premiums on the condensed consolidated statements of income (loss). Interest expense related to future policy benefits was $1,194 million and $802 million during the nine months ended September 30, 2023 and 2022, respectively, and is recorded as a component of policy and other operating expenses on the condensed consolidated statements of income (loss). Significant assumptions and inputs to the calculation of future policy benefits for payout annuities with life contingencies include policyholder demographic data, assumptions for policyholder longevity and policyholder utilization for contracts with deferred lives, and discount rates. We base certain key assumptions related to policyholder behavior on industry standard data adjusted to align with actual company experience, if necessary. At least annually, we review all significant cash flow assumptions and update as necessary, unless emerging experience indicates a more frequent review is necessary. The discount rate reflects market observable inputs from upper-medium grade fixed income instrument yields and is interpolated, where necessary, to conform to the duration of our liabilities. During the nine months ended September 30, 2023, future policy benefits for payout annuities with life contingencies increased by $4,418 million, which was driven by $9,120 million of issuances, primarily pension group annuities, and $1,194 million of interest accrual, partially offset by $2,731 million of benefit payments, $1,509 million reduction in reserve relating to recapture, $1,328 million change in discount rate assumptions related to an increase in rates, and $297 million resulting from favorable unlocking of assumptions, primarily related to higher interest rates and favorable mortality experience lowering future benefit payments. During the nine months ended September 30, 2022, future policy benefits for payout annuities with life contingencies increased by $237 million, which was driven by $10,666 million of issuances, primarily pension group annuities, and $802 million of interest accrual, partially offset by a $8,833 million change in discount rate assumptions related to an increase in rates and $2,193 million of benefit payments. The following represents the undiscounted and discounted expected future benefit payments for the liability for future policy benefits. As these relate to payout annuities for single premium immediate annuities with life contingencies, there are no expected future gross premiums. September 30, 2023 September 30, 2022 (In millions) Undiscounted Discounted Undiscounted Discounted Expected future benefit payments $ 73,933 $ 50,593 $ 63,743 $ 44,348 The following represents the weighted-average durations and the weighted-average interest rates of future policy benefits: September 30, 2023 2022 Weighted-average liability duration (in years) 9.6 10.2 Weighted-average interest accretion rate 3.6 % 3.1 % Weighted-average current discount rate 6.1 % 5.6 % The following is a summary of remeasurement gains (losses) included within future policy and other policy benefits on the condensed consolidated statements of income (loss): Nine months ended September 30, (In millions) 2023 2022 Reserves $ 333 $ 115 Deferred profit liability (243) (110) Negative VOBA (54) — Total remeasurement gains (losses) $ 36 $ 5 During the nine months ended September 30, 2023 and 2022, we recorded reserve increases of $110 million and $38 million, respectively, to the condensed consolidated statements of income (loss) as a result of the present value of benefits and expenses exceeding the present value of gross premiums. Market risk benefits – We issue and reinsure traditional deferred and indexed annuity products that contain GLWB and GMDB riders that meet the criteria to be classified as market risk benefits. The following is a rollfoward of net market risk benefit liabilities by product: Nine months ended September 30, 2023 (In millions) Traditional deferred annuities Indexed annuities Total Balance at December 31, 2022 $ 170 $ 2,319 $ 2,489 Effect of changes in instrument-specific credit risk 13 353 366 Balance, beginning of period, before changes in instrument-specific credit risk 183 2,672 2,855 Issuances — 47 47 Interest accrual 7 108 115 Attributed fees collected 2 250 252 Benefit payments (1) (24) (25) Effect of changes in interest rates (18) (591) (609) Effect of changes in equity — (26) (26) Effect of actual behavior compared to expected behavior 4 42 46 Effect of changes in future expected policyholder behavior (3) 78 75 Effect of changes in other future expected assumptions — 6 6 Balance, end of period, before changes in instrument-specific credit risk 174 2,562 2,736 Effect of changes in instrument-specific credit risk (7) (139) (146) Balance at September 30, 2023 $ 167 $ 2,423 $ 2,590 September 30, 2023 Net amount at risk $ 425 $ 14,438 $ 14,863 Weighted-average attained age of contract holders (in years) 75 69 69 Nine months ended September 30, 2022 (In millions) Traditional deferred annuities Indexed annuities Total Balance at January 1, 2022 $ 253 $ 4,194 $ 4,447 Issuances — 42 42 Interest accrual 2 24 26 Attributed fees collected 2 245 247 Benefit payments (3) (38) (41) Effect of changes in interest rates (77) (2,016) (2,093) Effect of changes in equity — 188 188 Effect of actual behavior compared to expected behavior 4 27 31 Effect of changes in other future expected assumptions (2) (41) (43) Balance, end of period, before changes in instrument-specific credit risk 179 2,625 2,804 Effect of changes in instrument-specific credit risk (18) (506) (524) Balance at September 30, 2022 $ 161 $ 2,119 $ 2,280 September 30, 2022 Net amount at risk $ 421 $ 13,169 $ 13,590 Weighted-average attained age of contract holders (in years) 75 69 69 The following is a reconciliation of market risk benefits to the condensed consolidated balance sheets. Market risk benefit assets are included in other assets on the condensed consolidated balance sheets. September 30, 2023 September 30, 2022 (In millions) Asset Liability Net liability Asset Liability Net liability Traditional deferred annuities $ — $ 167 $ 167 $ — $ 161 $ 161 Indexed annuities 431 2,854 2,423 511 2,630 2,119 Total $ 431 $ 3,021 $ 2,590 $ 511 $ 2,791 $ 2,280 During the nine months ended September 30, 2023, net market risk benefit liabilities increased by $101 million, which was primarily driven by $252 million in fees collected from policyholders, a $220 million change in instrument-specific credit risk related to tightening of credit spreads and $115 million of interest accrual, partially offset by a decrease of $609 million related to changes in the risk-free discount rate across the curve . During the nine months ended September 30, 2022, net market risk benefit liabilities decreased by $2,167 million, which was primarily driven by a decrease of $2,093 million related to changes in the risk-free discount rate across the curve and a $524 million change in instrument-specific credit risk related to widening of credit spreads, partially offset by $247 million of fees collected from policyholders and $188 million of changes related to equity market performance. The determination of the fair value of market risk benefits requires the use of inputs related to fees and assessments and assumptions in determining the projected benefits in excess of the projected account balance. Judgment is required for both economic and actuarial assumptions, which can be either observable or unobservable, that impact future policyholder account growth. Economic assumptions include interest rates and implied volatilities throughout the duration of the liability. For indexed annuities, assumptions also include projected equity returns which impact cash flows attributable to indexed strategies, implied equity volatilities, expected index credits on the next policy anniversary date and future equity option costs. Assumptions related to the level of option budgets used for determining the future equity option costs and the impact on future policyholder account value growth are considered unobservable inputs. Policyholder behavior assumptions are unobservable inputs and are established using accepted actuarial valuation methods to estimate withdrawals (surrender rate) and income rider utilization. Assumptions are generally based on industry data and pricing assumptions which are updated for actual experience, if necessary. Actual experience may be limited for recently issued products. All inputs are used to project excess benefits and fees over a range of risk-neutral, stochastic interest rate scenarios. For indexed annuities, stochastic equity return scenarios are also included within the range. A risk margin is incorporated within the discount rate to reflect uncertainty in the projected cash flows such as variations in policyholder behavior, as well as a credit spread to reflect our nonperformance risk, which is considered an unobservable input. We use the credit spread, relative to the US Treasury curve based on our public credit rating as of the valuation date, as the credit spread to reflect our nonperformance risk in the estimate of the fair value of market risk benefits. The following summarizes the unobservable inputs for market risk benefits: September 30, 2023 (In millions, except for percentages) Fair value Valuation technique Unobservable inputs Minimum Maximum Weighted average Impact of an increase in the input on fair value Market risk benefits, net $ 2,590 Discounted cash flow Nonperformance risk 0.6 % 1.6 % 1.4 % 1 Decrease Option budget 0.5 % 5.9 % 1.9 % 2 Decrease Surrender rate 3.4 % 6.5 % 4.6 % 2 Decrease Utilization rate 28.6 % 95.0 % 83.2 % 3 Increase September 30, 2022 (In millions, except for percentages) Fair value Valuation technique Unobservable inputs Minimum Maximum Weighted average Impact of an increase in the input on fair value Market risk benefits, net $ 2,280 Discounted cash flow Nonperformance risk 0.6 % 1.9 % 1.6 % 1 Decrease Option budget 0.5 % 4.5 % 1.6 % 2 Decrease Surrender rate 3.3 % 6.8 % 4.5 % 2 Decrease Utilization rate 28.6 % 95.0 % 81.9 % 3 Increase 1 The nonperformance risk weighted average is based on the cash flows underlying the market risk benefit reserve. 2 The option budget and surrender rate weighted averages are calculated based on projected account values. 3 The utilization of GLWB withdrawals represents the estimated percentage of policyholders that are expected to use their income rider over the duration of the contract, with the weighted average based on current account values.

Debt

Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	10. Debt Credit Facility —On June 30, 2023, AHL, ALRe, AUSA and AARe entered into a new, five one 1. Consolidated debt-to-capitalization ratio not to exceed 35%; 2. Minimum consolidated net worth of no less than $14.8 billion; and 3. Restrictions on our ability to incur liens, with certain exceptions. Interest accrues on outstanding borrowings at either the adjusted term secured overnight financing rate plus a margin or the base rate plus a margin, with the applicable margin varying based on AHL’s debt rating. Rates and terms are as defined in the Credit Facility. As of September 30, 2023 and December 31, 2022, we had no amounts outstanding under the current or previous credit facilities and were in compliance with all financial covenants under the facilities. Liquidity Facility —On June 30, 2023, AHL and ALRe entered into a new revolving credit agreement with a syndicate of banks and Wells Fargo Bank, National Association, as administrative agent (Liquidity Facility), which replaced our previous revolving credit agreement dated as of July 1, 2022. The previous credit agreement, and the commitments under it, expired on June 30, 2023. The Liquidity Facility is unsecured and has a commitment termination date of June 28, 2024, subject to any extensions of additional 364-day periods with consent of extending lenders and/or “term-out” of outstanding loans (by which, at our election, the outstanding loans may be converted to term loans which shall have a maturity of up to one year after the original maturity date), in each case in accordance with the terms of the Liquidity Facility. In connection with the Liquidity Facility, ALRe guaranteed all of the obligations of AHL under the Liquidity Facility and the related loan documents. The Liquidity Facility will be used for liquidity and working capital needs to meet short-term cash flow and investment timing differences. The borrowing capacity under the Liquidity Facility is $2.6 billion, subject to being increased up to $3.1 billion in total on the terms described in the Liquidity Facility. The Liquidity Facility contains various standard covenants with which we must comply, including the following: 1. ALRe minimum consolidated net worth of no less than $8.8 billion; and 2. Restrictions on our ability to incur liens, with certain exceptions. Interest accrues on outstanding borrowings at either the adjusted term secured overnight financing rate plus a margin or the base rate plus a margin, with applicable margin varying based on ALRe’s financial strength rating. Rates and terms are as defined in the Liquidity Facility. On February 7, 2023, we borrowed $1.0 billion from the previous liquidity facility for short-term cash flow needs, which was repaid in the first quarter of 2023. As of September 30, 2023 and December 31, 2022, we had no amounts outstanding under the current or previous liquidity facilities and were in compliance with all financial covenants under the facilities.

Equity

Equity	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Equity	11. Equity Acc umulated Other Comprehensive Income (Loss)— The following provides the details and changes in AOCI: (In millions) Unrealized investment gains (losses) on AFS securities without a credit allowance Unrealized investment gains (losses) on AFS securities with a credit allowance Unrealized gains (losses) on hedging instruments Remeasurement gains (losses) on future policy benefits related to discount rate Remeasurement gains (losses) on market risk benefits related to credit risk Foreign currency translation and other adjustments Accumulated other comprehensive income (loss) Balance at June 30, 2023 $ (11,049) $ (378) $ 26 $ 4,708 $ 312 $ 5 $ (6,376) Other comprehensive income (loss) before reclassifications (3,199) 33 (192) 1,317 (254) (21) (2,316) Less: Reclassification adjustments for gains (losses) realized 1 (11) — 21 — — — 10 Less: Income tax expense (benefit) (654) 6 (46) 273 (52) (3) (476) Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of subsidiary issuance of equity interests and tax (577) (3) (26) 471 (8) (4) (147) Balance at September 30, 2023 $ (13,006) $ (348) $ (115) $ 5,281 $ 118 $ (9) $ (8,079) 1 Recognized in investment related gains (losses) on the condensed consolidated statements of income (loss). (In millions) Unrealized investment gains (losses) on AFS securities without a credit allowance Unrealized investment gains (losses) on AFS securities with a credit allowance Unrealized gains (losses) on hedging instruments Remeasurement gains (losses) on future policy benefits related to discount rate Remeasurement gains (losses) on market risk benefits related to credit risk Foreign currency translation and other adjustments Accumulated other comprehensive income (loss) Balance at June 30, 2022 $ (9,996) $ (138) $ (28) $ 4,079 $ 448 $ (63) $ (5,698) Other comprehensive income (loss) before reclassifications (5,824) (128) (79) 2,374 (52) 9 (3,700) Less: Reclassification adjustments for gains (losses) realized in net income 1 (24) — 1 — — — (23) Less: Income tax expense (benefit) (1,001) (23) (12) 325 (9) (7) (727) Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of tax (713) (5) (91) 641 (1) (6) (175) Balance at September 30, 2022 $ (14,082) $ (238) $ (5) $ 5,487 $ 406 $ (41) $ (8,473) 1 Recognized in investment related gains (losses) on the condensed consolidated statements of income (loss). (In millions) Unrealized investment gains (losses) on AFS securities without a credit allowance Unrealized investment gains (losses) on AFS securities with a credit allowance Unrealized gains (losses) on hedging instruments Remeasurement gains (losses) on future policy benefits related to discount rate Remeasurement gains (losses) on market risk benefits related to credit risk Foreign currency translation and other adjustments Accumulated other comprehensive income (loss) Balance at December 31, 2022 $ (12,565) $ (334) $ 47 $ 5,256 $ 285 $ (10) $ (7,321) Other comprehensive income (loss) before reclassifications (1,841) (31) (214) 1,328 (220) 6 (972) Less: Reclassification adjustments for gains (losses) realized in net income 1 (105) — 66 — — — (39) Less: Income tax expense (benefit) (828) (12) (68) 777 (46) 2 (175) Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of subsidiary issuance of equity interests and tax (467) (5) (50) 526 (7) 3 — Balance at September 30, 2023 $ (13,006) $ (348) $ (115) $ 5,281 $ 118 $ (9) $ (8,079) 1 Recognized in investment related gains (losses) on the condensed consolidated statements of income (loss). (In millions) Unrealized investment gains (losses) on AFS securities without a credit allowance Unrealized investment gains (losses) on AFS securities with a credit allowance Unrealized gains (losses) on hedging instruments Remeasurement gains (losses) on future policy benefits related to discount rate Remeasurement gains (losses) on market risk benefits related to credit risk Foreign currency translation and other adjustments Accumulated other comprehensive income (loss) Balance at January 1, 2022 $ — $ — $ — $ — $ — $ — $ — Other comprehensive income (loss) before reclassifications (20,037) (319) (112) 8,833 524 (72) (11,183) Less: Reclassification adjustments for gains (losses) realized 1 (178) — 16 — — — (162) Less: Income tax expense (benefit) (3,526) (57) (21) 1,284 112 (12) (2,220) Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of tax (2,251) (24) (102) 2,062 6 (19) (328) Balance at September 30, 2022 $ (14,082) $ (238) $ (5) $ 5,487 $ 406 $ (41) $ (8,473) 1 Recognized in investment related gains (losses) on the condensed consolidated statements of income (loss).

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes The income tax expense (benefit) was $162 million and $(121) million for the three months ended September 30, 2023 and 2022, respectively. Our effective tax rate was 33% and 10% for the three months ended September 30, 2023 and 2022, respectively. The income tax expense (benefit) was $458 million and $(783) million for the nine months ended September 30, 2023 and 2022, respectively. Our effective tax rate was 18% and 12% for the nine months ended September 30, 2023 and 2022, respectively. On August 16, 2022, the US government enacted the Inflation Reduction Act of 2022 (IRA). The IRA contains a number of tax-related provisions including a 15% minimum corporate income tax on certain large corporations as well as an excise tax on stock repurchases. It is unclear how the IRA will be ultimately implemented by the US Department of the Treasury through regulation although the IRS has issued interim guidance relevant to us describing regulations it intends to issue upon which taxpayers are entitled to rely until the issuance of regulations. We are still evaluating the impact of the IRA on our tax liability, which tax liability could also be affected by how the provisions of the IRA are implemented through such regulation. We will continue to evaluate the IRA’s impact as further information becomes available.

Related Parties

Related Parties	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Related Parties	13. Related Parties Apollo Fee structure – Substantially all of our investments are managed by Apollo. Apollo provides us a full suite of services that includes: direct investment management; asset sourcing and allocation; mergers and acquisition sourcing, execution and asset diligence; and strategic support and advice. Apollo also provides certain operational support services for our investment portfolio including investment compliance, tax, legal and risk management support. Apollo has extensive experience managing our investment portfolio and its knowledge of our liability profile enables it to tailor an asset management strategy to fit our specific needs. This strategy has proven responsive to changing market conditions and focuses on earning incremental yield by taking liquidity risk and complexity risk, rather than assuming incremental credit risk. Our partnership has enabled us to take advantage of investment opportunities that would likely not otherwise have been available to us. Under our fee agreement with Apollo, we pay Apollo a base management fee of (1) 0.225% per year on a monthly basis equal to the lesser of (A) $103.4 billion, which represents the aggregate fair market value of substantially all of the assets in substantially all of the accounts of or relating to us (collectively, the Accounts) as of December 31, 2018 (Backbook Value), and (B) the aggregate book value of substantially all of the assets in the Accounts at the end of the respective month, plus (2) 0.15% per year of the amount, if any, by which the aggregate book value of substantially all of the assets in the Accounts at the end of the respective month exceeds the Backbook Value, subject to certain adjustments. Additionally, we pay a sub-allocation fee based on specified asset class tiers ranging from 0.065% to 0.70% of the book value of such assets, with the higher percentages in this range for asset classes that are designed to have more alpha generating abilities. During the three months ended September 30, 2023 and 2022, we incurred management fees, inclusive of the base and sub-allocation fees, of $249 million and $195 million, respectively. During the nine months ended September 30, 2023 and 2022, we incurred management fees, inclusive of the base and sub-allocation fees, of $703 million and $563 million, respectively. Management fees are included within net investment income on the condensed consolidated statements of income (loss). As of September 30, 2023 and December 31, 2022, management fees payable were $95 million and $80 million, respectively, and are included in other liabilities on the condensed consolidated balance sheets. Such amounts include fees incurred attributable to Athene Co-Invest Reinsurance Affiliate Holding Ltd. (together with its subsidiaries, ACRA 1) and Athene Co-Invest Reinsurance Affiliate Holding 2 Ltd. (together with its subsidiaries, ACRA 2) including any noncontrolling interests associated with ACRA 1 and ACRA 2 (collectively, ACRA). In addition to the assets on our condensed consolidated balance sheets managed by Apollo, Apollo manages the assets underlying our funds withheld receivable. For these assets, the third-party cedants pay Apollo fees based upon the same fee construct we have with Apollo. Such fees directly reduce the settlement payments that we receive from the third-party cedant and, as such, we indirectly pay those fees. Finally, Apollo charges management fees and carried interest on Apollo-managed funds and other entities in which we invest. Neither the fees paid by such third-party cedants nor the fees or carried interest paid by such Apollo-managed funds or other entities are included in the investment management fee amounts noted above. Termination of ACRA investment management agreements (IMA) – Our bye-laws currently provide that, with respect to IMAs covering assets backing reserves and surplus in ACRA, whether from internal reinsurance, third-party reinsurance, or inorganic transactions, among us or any of our subsidiaries, on the one hand, and Apollo Insurance Solutions Group LP (ISG), on the other hand, we may not, and will not cause our subsidiaries to, terminate any such IMA with Apollo other than at specified termination dates and with relevant board approvals of independent directors and written notice. Governance – We have a management investment and asset liability committee, which includes members of our senior management and reports to the risk committee of our board of directors. The committee focuses on strategic decisions involving our investment portfolio, such as approving investment limits, new asset classes and our allocation strategy, reviewing large asset transactions, as well as monitoring our credit risk, and the management of our assets and liabilities. AGM owns all of our common stock and James Belardi, our Chief Executive Officer, serves as a member of the board of directors and an executive officer of AGM, and Chief Executive Officer of ISG, which is also a subsidiary of AGM. Mr. Belardi also owns a profit interest in ISG and in connection with such interest receives quarterly distributions equal to 3.35% of base management fees and 4.5% of subadvisory fees, as such fees are defined in our fee agreement with Apollo. Additionally, five of the twelve members of our board of directors (including Mr. Belardi) are employees of or consultants to Apollo. In order to protect against potential conflicts of interest resulting from transactions into which we have entered and will continue to enter into with the Apollo Group, our bye-laws require us to maintain a conflicts committee comprised solely of directors who are not general partners, directors (other than independent directors of AGM), managers, officers or employees of any member of the Apollo Group. The conflicts committee reviews and approves material transactions between us and the Apollo Group, subject to certain exceptions. Other related party transactions Apollo Aligned Alternatives Aggregator, L.P. (AAA) – We consolidate AAA as a VIE. Apollo established AAA for the purpose of providing a single vehicle through which we and third-party investors can participate in a portfolio of alternative investments, which include those managed by Apollo. Additionally, we believe AAA enhances Apollo’s ability to increase alternative assets under management (AUM) by raising capital from third parties, which will allow Athene to achieve greater scale and diversification for alternatives. Third-party investors began to invest in AAA on July 1, 2022. During the nine months ended September 30, 2022, we contributed $8,007 million of certain of our alternative investments to AAA in exchange for limited partnership interests in AAA. Wheels Donlen – We contributed our limited partnership investment in Athene Freedom Parent, LP (Athene Freedom), for which an Apollo affiliate is the general partner, to AAA during the second quarter of 2022. Athene Freedom indirectly invests in Wheels, Inc., Donlen, LLC, and LeasePlan USA, Inc. (collectively, Wheels Donlen). We own securities issued by Wheels Donlen of $1,418 million and $1,024 million as of September 30, 2023 and December 31, 2022, respectively, which are included in related party AFS securities on the condensed consolidated balance sheets. We also have commitments to make additional investments in Wheels Donlen of $306 million as of September 30, 2023. MidCap FinCo Designated Activity Company (MidCap Financial) – We have various investments in MidCap Financial including an investment through AAA, senior unsecured notes and redeemable preferred stock. We previously directly held MidCap Financial profit participating notes until contribution to AAA during the second quarter of 2022. We also hold structured securities issued by MidCap Financial affiliates. As of September 30, 2023 and December 31, 2022, we held securities issued by MidCap Financial and its affiliates of $1,826 million and $1,262 million, respectively, which are included in related party AFS or trading securities on the condensed consolidated balance sheets. Athora – We have a cooperation agreement with Athora, pursuant to which, among other things, (1) for a period of 30 days from the receipt of notice of a cession, we have the right of first refusal to reinsure (i) up to 50% of the liabilities ceded from Athora’s reinsurance subsidiaries to Athora Life Re Ltd. and (ii) up to 20% of the liabilities ceded from a third party to any of Athora’s insurance subsidiaries, subject to a limitation in the aggregate of 20% of Athora’s liabilities, (2) Athora agreed to cause its insurance subsidiaries to consider the purchase of certain funding agreements and/or other spread instruments issued by our insurance subsidiaries, subject to a limitation that the fair market value of such funding agreements purchased by any of Athora’s insurance subsidiaries may generally not exceed 3% of the fair market value of such subsidiary’s total assets, (3) we provide Athora with a right of first refusal to pursue acquisition and reinsurance transactions in Europe (other than the United Kingdom (UK)) and (4) Athora provides us and our subsidiaries with a right of first refusal to pursue acquisition and reinsurance transactions in North America and the UK. Notwithstanding the foregoing, pursuant to the cooperation agreement, Athora is only required to use its reasonable best efforts to cause its subsidiaries to adhere to the provisions set forth in the cooperation agreement and therefore Athora’s ability to cause its subsidiaries to act pursuant to the cooperation agreement may be limited by, among other things, legal prohibitions or the inability to obtain the approval of the board of directors or other applicable governing body of the applicable subsidiary, which approval is solely at the discretion of such governing body. As of September 30, 2023 , we have not exercised our right of first refusal to reinsure liabilities ceded to Athora’s insurance or reinsurance subsidiaries. We have investments in Athora’s equity, which we hold as a related party investment fund on the condensed consolidated balance sheets, and non-redeemable preferred equity securities. The following table summarizes our investments in Athora: (In millions) September 30, 2023 December 31, 2022 Investment fund $ 1,043 $ 959 Non-redeemable preferred equity securities 239 273 Total investment in Athora $ 1,282 $ 1,232 Additionally, as of September 30, 2023 and December 31, 2022, we had $58 million and $59 million, respectively, of funding agreements outstanding to Athora . We also have commitments to make additional equity investments in Athora of $513 million as of September 30, 2023. Catalina – We have an investment in Apollo Rose II (B) (Apollo Rose), which we consolidate as a VIE. Apollo Rose has equity interests in Catalina Holdings (Bermuda) Ltd. (Catalina) and is reflected as a related party investment fund in assets of consolidated VIEs on the condensed consolidated balance sheets. During the fourth quarter of 2022, we entered into a strategic modco reinsurance agreement with Catalina General Insurance Ltd., which is a subsidiary of Catalina, to cede certain inforce funding agreements. We elected the fair value option on this agreement and had a liability of $213 million and $142 million as of September 30, 2023 and December 31, 2022, respectively, which is included in other liabilities on the condensed consolidated balance sheets. Venerable – We have coinsurance and modco agreements with VIAC. Effective July 1, 2023, VIAC recaptured $2.7 billion of reserves, which represents a portion of their business that was subject to those coinsurance and modco agreements. We recognized a gain of $555 million, which is included in other revenues on the condensed consolidated statements of income (loss), in the third quarter of 2023 as a result of the settlement of the recapture agreement. As a result of our intent to transfer the assets supporting this business to VIAC in connection with the recapture, we were required by US GAAP to recognize the unrealized losses on these assets of $104 million as intent-to-sell impairments in the second quarter of 2023. VIAC is a related party due to our minority equity investment in its holding company’s parent, VA Capital , which was $206 million and $240 million as of September 30, 2023 and December 31, 2022, respectively. The minority equity investment in VA Capital is included in related party investment funds on the condensed consolidated balance sheets and accounted for as an equity method investment. VA Capital is owned by a consortium of investors, led by affiliates of Apollo, Crestview Partners III Management , LLC and Reverence Capital Partners L.P., and is the parent of Venerable, which is the parent of VIAC. We also have term loans receivable from Venerable due in 2033, which are included in related party other investments on the condensed consolidated balance sheets. The loans are held at fair value and were $327 million and $303 million as of September 30, 2023 and December 31, 2022, respectively. While management views the overall transactions with Venerable as favorable to us, the stated interest rate of 6.257% on the initial term loan to Venerable represented a below-market interest rate, and management considered such rate as part of its evaluation and pricing of the reinsurance transactions. Strategic Partnership – We have an agreement pursuant to which we may invest up to $2.875 billion over three years in funds managed by Apollo entities (Strategic Partnership). This arrangement is intended to permit us to invest across the Apollo alternatives platform into credit-oriented, strategic and other alternative investments in a manner and size that is consistent with our existing investment strategy. Fees for such investments payable by us to Apollo would be more favorable to us than market rates, and consistent with our existing alternative investments, investments made under the Strategic Partnership require approval of ISG and remain subject to our existing governance processes, including approval by our conflicts committee where applicable. During the second quarter of 2022, we contributed the majority of our Strategic Partnership investments to AAA. As of September 30, 2023 and December 31, 2022, we had $1,739 million and $1,046 million, respectively, of investments under the Strategic Partnership and these investments are typically included as consolidated VIEs or related party investment funds on the condensed consolidated balance sheets. PK AirFinance – We have investments in PK AirFinance (PK Air), an aviation lending business with a portfolio of loans (Aviation Loans). The Aviation Loans are generally fully secured by aircraft leases and aircraft and are securitized by a special purpose vehicle (SPV) for which Apollo acts as ABS manager (ABS-SPV). The ABS-SPV issues tranches of senior notes and subordinated notes, which are secured by the Aviation Loans. We purchased both senior and subordinated notes of PK Air. During the first quarter of 2022, we contributed our investment in the subordinated notes to PK Air Holdings, LP (PK Air Holdings) and then contributed PK Air Holdings to AAA during the second quarter of 2022. We had investments in PK Air notes of $1,656 million and $1,183 million as of September 30, 2023 and December 31, 2022, respectively, which are included in related party AFS on the condensed consolidated balance sheets. We also have commitments to make additional investments in PK Air of $1,472 million as of September 30, 2023. Apollo/Athene Dedicated Investment Programs I and II (collectively, ADIP) – ACRA 1 is partially owned by Apollo/Athene Dedicated Investment Program (ADIP I), a fund managed by Apollo. ALRe currently holds 36.55% of the economic interests in ACRA 1 and all of ACRA 1’s voting interests, with ADIP I holding the remaining 63.45% of the economic interests. Effective July 1, 2023, ALRe sold 50% of its non-voting, economic interests in ACRA 2 to Apollo/Athene Dedicated Investment Program II (ADIP II), a fund managed by Apollo, for $640 million. ALRe holds all of ACRA 2’s voting interests. We received capital contributions and paid distributions relating to ACRA of the following: Three months ended September 30, Nine months ended September 30, (In millions) 2023 2022 2023 2022 Contributions from ADIP $ 325 $ 336 $ 325 $ 1,047 Distributions to ADIP (254) — (381) — Additionally, as of September 30, 2023 and December 31, 2022 , we had $206 million and $202 million, respectively, of related party payables for contingent investment fees payable by ACRA to Apollo. ACRA is obligated to pay the contingent investment fees on behalf of ADIP and, as such, the balance is attributable to noncontrolling interests. Unsecured Revolving Promissory Note Receivable with AGM – AHL has an unsecured revolving promissory note with AGM which allows AGM to borrow funds from AHL. The note has a borrowing capacity of $500 million. Interest accrues at the US mid-term applicable federal rate per year and has a maturity date of December 13, 2025, or earlier at AHL’s request. The note receivable had an outstanding balance of $112 million and $78 million as of September 30, 2023 and December 31, 2022, respectively . Unsecured Revolving Promissory Note Payable with AGM – AHL has an unsecured revolving promissory note with AGM which allows AHL to borrow funds from AGM. The note has a borrowing capacity of $500 million. Interest accrues at the US mid-term applicable federal rate per year and has a maturity date of December 13, 2025, or earlier at AGM’s request. There was no outstanding balance on the note payable as of September 30, 2023 and December 31, 2022, respectively . Atlas Securitized Products Holdings LP (Atlas) – We have an equity investment in Atlas, an asset-backed specialty lender, through our investment in AAA. A s of September 30, 2023 and December 31, 2022, we had $1,007 million and $0 million, respectively, of related party AFS securities issued by Atlas. Additionally, we have $922 million and $0 million of reverse repurchase agreements issued by Atlas as of September 30, 2023 and December 31, 2022, respectively, which are held as related party short-term investments on the condensed consolidated balance sheets. See Note 14 – Commitments and Contingencies for further information on assurance letters issued in support of Atlas.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	14. Commitments and Contingencies Contingent Commitments —We had commitments to make investments, primarily capital contributions to investment funds, inclusive of related party commitments discussed previously and those of consolidated VIEs, of $20.6 billion as of September 30, 2023. We expect most of our current commitments could be invested over the next five years; however, these commitments could become due any time upon counterparty request. Funding Agreements —We are a member of the Federal Home Loan Bank of Des Moines (FHLB) and, through membership, we have issued funding agreements to the FHLB in exchange for cash advances. As of September 30, 2023 and December 31, 2022, we had $6.7 billion and $3.7 billion, respectively, of FHLB funding agreements outstanding. We are required to provide collateral in excess of the funding agreement amounts outstanding, considering any discounts to the securities posted and prepayment penalties. We have a funding agreement backed notes (FABN) program, which allows Athene Global Funding, a special-purpose, unaffiliated statutory trust, to offer its senior secured medium-term notes. Athene Global Funding uses the net proceeds from each sale to purchase one or more funding agreements from us. As of September 30, 2023 and December 31, 2022, we had $20.2 billion and $21.0 billion, respectively, of board-authorized FABN f unding agreements outstanding . We had $14.2 billion of board-authorized FABN capacity remaining as of September 30, 2023. We also established a secured funding agreement backed repurchase agreement (FABR) program, in which a special-purpose, unaffiliated entity enters into repurchase agreements with a bank and the proceeds of the repurchase agreements are used by the special-purpose entity to purchase funding agreements from us. As of September 30, 2023 and December 31, 2022, we had $4.0 billion and $3.0 billion, respectively, of FABR funding agreements outstanding. Pledged Assets and Funds in Trust (Restricted Assets)— The total restricted assets included on the condensed consolidated balance sheets are as follows: (In millions) September 30, 2023 December 31, 2022 AFS securities $ 24,307 $ 15,366 Trading securities 163 55 Equity securities 77 38 Mortgage loans 10,802 8,849 Investment funds 193 103 Derivative assets 88 65 Short-term investments 68 120 Other investments 286 170 Restricted cash 1,218 628 Total restricted assets $ 37,202 $ 25,394 The restricted assets are primarily related to reinsurance trusts established in accordance with coinsurance agreements and the FHLB and FABR funding agreements described above. Letters of Credit— We have undrawn letters of credit totaling $1,326 million as of September 30, 2023. These letters of credit were issued for our reinsurance program and have expirations through June 19, 2026. Assurance Letter —In February 2023, the Company, Apollo and Credit Suisse AG (CS) undertook the first two closes on a previously announced transaction whereby Atlas, which is owned by AAA, acquired certain assets of the CS Securitized Products Group. Under terms of the transaction, Atlas has agreed to pay CS $3.3 billion, of which $0.4 billion is deferred until February 8, 2026, and $2.9 billion is deferred until February 8, 2028. This deferred purchase price is an obligation first of Atlas, and (as a result of additional guarantees provided by AAA, Apollo Asset Management, Inc. (AAM) and AHL) second of AAA, third of AAM, fourth of AHL and fifth of AARe. AARe and AAM have each issued an assurance letter to CS to guarantee the full amount of $3.3 billion. The fair values of our guarantees related to this transaction are not material to the consolidated financial statements.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended			6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 486	$ (587)	$ (1,015)	$ (2,720)	$ 1,695	$ (3,307)	$ (2,910)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Business, Basis of Presentati_2

Business, Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation—We have prepared the accompanying condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (US GAAP) for interim financial information and the United States Securities and Exchange Commission’s rules and regulations for Form 10-Q and Article 10 of Regulation S-X. The accompanying condensed consolidated financial statements are unaudited and reflect all adjustments, consisting only of normal recurring items, considered necessary for fair statement of the results for the interim periods presented. All intercompany accounts and transactions have been eliminated. Interim operating results are not necessarily indicative of the results expected for the entire year.For entities that are consolidated, but not wholly owned, we allocate a portion of the income or loss and corresponding equity to the owners other than us. We include the aggregate of the income or loss and corresponding equity that is not owned by us in noncontrolling interests in the condensed consolidated financial statements.The condensed consolidated balance sheet as of December 31, 2022 has been derived from the audited financial statements, with necessary unaudited adjustments made for the implementation of targeted improvements to the accounting for long-duration contracts, and does not include all of the information and footnotes required by US GAAP for complete financial statements. Therefore, these condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022.
Consolidation	The accompanying condensed consolidated financial statements are unaudited and reflect all adjustments, consisting only of normal recurring items, considered necessary for fair statement of the results for the interim periods presented. All intercompany accounts and transactions have been eliminated. Interim operating results are not necessarily indicative of the results expected for the entire year.For entities that are consolidated, but not wholly owned, we allocate a portion of the income or loss and corresponding equity to the owners other than us. We include the aggregate of the income or loss and corresponding equity that is not owned by us in noncontrolling interests in the condensed consolidated financial statements.The condensed consolidated balance sheet as of December 31, 2022 has been derived from the audited financial statements, with necessary unaudited adjustments made for the implementation of targeted improvements to the accounting for long-duration contracts, and does not include all of the information and footnotes required by US GAAP for complete financial statements.
Use of Estimates	The preparation of financial statements requires the use of management estimates. Actual results may differ from estimates used in preparing the condensed consolidated financial statements.
Reinsurance	Reinsurance —We assume and cede insurance and investment contracts under coinsurance, funds withheld coinsurance (funds withheld) and modified coinsurance (modco). We follow reinsurance accounting for transactions that provide indemnification against loss or liability relating to insurance risk (risk transfer). To meet risk transfer requirements, a reinsurance agreement must transfer insurance risk arising from uncertainties about both underwriting and timing risks. Cessions under reinsurance do not discharge our obligations as the primary insurer unless the requirements of assumption reinsurance have been met. We generally have the right of offset on reinsurance contracts, but have elected to present reinsurance settlement amounts due to and from us on a gross basis. For assets and liabilities ceded under reinsurance agreements, we generally apply the same measurement guidance for our directly issued or assumed contracts. Ceded amounts are recorded within reinsurance recoverable on the condensed consolidated balance sheets. For reinsurance of in-force contracts that pass risk transfer, the issue year used for the purpose of measuring the reinsurance recoverable is dependent on the effective date of the reinsurance agreement, which may differ from the issue year for the direct or assumed contract. The issue year informs the locked-in discount rate used for the purposes of interest accretion. This may result in different discount rates used for the direct or assumed reserves and ceded reserves when reinsuring an in-force block of insurance contracts. For flow reinsurance of insurance contracts that pass risk transfer, the contracts have the same cash flow assumptions as the direct or assumed contracts when the terms are consistent between those respective contracts and the ceded reinsurance agreement. When we recognize an immediate loss due to the present value of future benefits and expenses exceeding the present value of future gross premiums, a gain is recognized on the corresponding reinsurance recoverable to the extent it does not result in gain recognition at treaty inception. Likewise, where the direct or assumed reserve has been floored to zero, the corresponding reinsurance recoverable will be consistently set to zero. See – Future Policy Benefits below for further information. Accounting for reinsurance requires the use of assumptions, particularly related to the future performance of the underlying business and the potential impact of counterparty credit risks. We attempt to minimize our counterparty credit risk through the structuring of the terms of our reinsurance agreements, including the use of trusts, and monitor credit ratings of counterparties for signs of declining credit quality. When a ceding company does not report information on a timely basis, we record accruals based on the best available information at the time, which includes the reinsurance agreement terms and historical experience. We periodically compare actual and anticipated experience to the assumptions used to establish reinsurance assets and liabilities. Assets and liabilities assumed or ceded under coinsurance, funds withheld or modco are presented gross on the condensed consolidated balance sheets. For investment contracts, the change in the direct or assumed and ceded reserves are presented net in interest sensitive contract benefits on the condensed consolidated statements of income (loss). For insurance contracts, the change in the direct or assumed and ceded reserves and benefits are presented net in future policy and other policy benefits on the condensed consolidated statements of income (loss), except for changes related to the discount rate which are presented net in other comprehensive income (loss) (OCI) on the condensed consolidated statements of comprehensive income (loss). For market risk benefits, the change in the direct or assumed and ceded reserves are presented net in market risk benefits remeasurement (gains) losses on the condensed consolidated statements of income (loss), except for changes related to instrument-specific credit risk on direct and assumed contracts which are presented net in OCI on the condensed consolidated statements of comprehensive income (loss). For the reinsurance of existing in-force blocks that transfer significant insurance risk, the difference between the assets received or paid and the liabilities assumed or ceded represents the net cost of reinsurance at the inception of the reinsurance agreement. The net cost of reinsurance is amortized on a basis consistent with the methodologies and assumptions used to amortize deferred acquisition costs (DAC) and deferred sales inducements (DSI).
Deferred Acquisition Costs and Deferred Sales Inducements	Costs related directly to the successful acquisition of new, or the renewal of existing, insurance or investment contracts are deferred. These costs consist of commissions and policy issuance costs, as well as sales inducements credited to policyholder account balances, and are included in deferred acquisition costs, deferred sales inducements and value of business acquired on the condensed consolidated balance sheets. These costs are not capitalized until they are incurred. Deferred costs related to universal life-type policies and investment contracts with significant revenue streams from sources other than investment of the policyholder funds are grouped into cohorts based on issue year and contract type and amortized on a constant level basis over the expected term of the related contracts. The cohorts and assumptions used for the amortization of deferred costs are consistent with those used in estimating the related liabilities for these contracts. The constant level basis generally is the initial premium or deposit and is projected based on assumptions related to policyholder behavior, including lapses and mortality, over the expected term of the contracts. Each reporting period, we replace expected experience with actual experience to determine the related amortization expense. Changes to projected experience are recognized in amortization expense prospectively over the remaining contract term. Amortization of DAC and DSI is included in amortization of deferred acquisition costs, deferred sales inducements and value of business acquired on the condensed consolidated statements of income (loss). Deferred costs related to investment contracts without significant revenue streams from sources other than investment of the policyholder funds are amortized using the effective interest method. The effective interest method amortizes the deferred costs by discounting the future liability cash flows at a break-even rate. The break-even rate is solved for such that the present value of future liability cash flows is equal to the net liability at the inception of the contract. The deferred costs represent the difference between the net and gross liability and the change relates to amortization for the period.
Deferred Acquisition Costs and Deferred Sales Inducements	Costs related directly to the successful acquisition of new, or the renewal of existing, insurance or investment contracts are deferred. These costs consist of commissions and policy issuance costs, as well as sales inducements credited to policyholder account balances, and are included in deferred acquisition costs, deferred sales inducements and value of business acquired on the condensed consolidated balance sheets. These costs are not capitalized until they are incurred. Deferred costs related to universal life-type policies and investment contracts with significant revenue streams from sources other than investment of the policyholder funds are grouped into cohorts based on issue year and contract type and amortized on a constant level basis over the expected term of the related contracts. The cohorts and assumptions used for the amortization of deferred costs are consistent with those used in estimating the related liabilities for these contracts. The constant level basis generally is the initial premium or deposit and is projected based on assumptions related to policyholder behavior, including lapses and mortality, over the expected term of the contracts. Each reporting period, we replace expected experience with actual experience to determine the related amortization expense. Changes to projected experience are recognized in amortization expense prospectively over the remaining contract term. Amortization of DAC and DSI is included in amortization of deferred acquisition costs, deferred sales inducements and value of business acquired on the condensed consolidated statements of income (loss). Deferred costs related to investment contracts without significant revenue streams from sources other than investment of the policyholder funds are amortized using the effective interest method. The effective interest method amortizes the deferred costs by discounting the future liability cash flows at a break-even rate. The break-even rate is solved for such that the present value of future liability cash flows is equal to the net liability at the inception of the contract. The deferred costs represent the difference between the net and gross liability and the change relates to amortization for the period.
Value of Business Acquired (VOBA)	We establish VOBA for blocks of insurance contracts acquired through the acquisition of insurance entities and through application of pushdown accounting related to our merger with AGM. We record the fair value of the liabilities assumed in two components: reserves and VOBA. Reserves are established using our best estimate assumptions as of the business combination date. VOBA is the difference between the fair value of the liabilities and the reserves. VOBA can be either positive or negative and is amortized in relation to respective policyholder liabilities. Significant assumptions that impact VOBA amortization are consistent with those that impact the measurement of policyholder liabilities. We perform periodic tests to determine if positive VOBA remains recoverable. If we determine that positive VOBA is not recoverable, we would record a cumulative charge to the current period. Any negative VOBA is recorded to the same financial statement line on the condensed consolidated balance sheets as the associated reserves. Positive VOBA is recorded in deferred acquisition costs, deferred sales inducements and value of business acquired on the condensed consolidated balance sheets. See Note 8 – Deferred Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired for further information.
Interest Sensitive Contract Liabilities	Universal life-type policies and investment contracts include traditional deferred annuities, indexed annuities consisting of fixed indexed and index-linked variable annuities in the accumulation phase, funding agreements, immediate annuities without significant mortality risk (which include pension group annuities without life contingencies), universal life insurance, and other investment contracts inclusive of assumed endowments without significant mortality risk. We carry liabilities for traditional deferred annuities, indexed annuities, funding agreements and universal life insurance at the account balances without reduction for potential surrender or withdrawal charges, except for a block of universal life business ceded to Global Atlantic Financial Group Limited (together with its subsidiaries, Global Atlantic), which we carry at fair value. Liabilities for immediate annuities without significant mortality risk are calculated as the present value of future liability cash flows and policy maintenance expenses discounted at contractual interest rates. Certain of our contracts are offered with additional contract features that meet the definition of a market risk benefit. See – Market Risk Benefits below for further information. Unearned revenue liabilities are established when amounts are assessed against the policyholder for services to be provided in future periods. These balances are amortized consistent with the methodologies and assumptions used to amortize DAC and DSI. Changes in interest sensitive contract liabilities, excluding deposits and withdrawals, are recorded in interest sensitive contract benefits or product charges on the condensed consolidated statements of income (loss). Interest sensitive contract liabilities are not reduced for amounts ceded under reinsurance agreements which are reported as reinsurance recoverable on the condensed consolidated balance sheets.
Future Policy Benefits	We issue contracts classified as long-duration, which include term and whole life, accident and health, disability, and immediate annuities with life contingencies (which include pension group annuities with life contingencies). Liabilities for nonparticipating long-duration contracts are established as the estimated present value of benefits we expect to pay to or on behalf of the policyholder and related expenses less the present value of the net premiums to be collected, referred to as the net premium ratio. The contracts are grouped into cohorts based on issue year and contract type, with an exception for pension group annuities, which are generally assessed at the group annuity contract level. Contracts with different issuance years are not combined. Contracts acquired in a business combination are grouped into a single cohort by contract type, except for pension group annuities, which follow the group annuity contract level. Liabilities for nonparticipating long-duration contracts are established using accepted actuarial valuation methods which require the use of assumptions related to discount rate, expenses, longevity, mortality, morbidity, persistency and other policyholder behavior. We base certain key assumptions, such as longevity, mortality and morbidity, on industry standard data adjusted to align with actual company experience, if needed. We have elected to use expense assumptions that are locked in at issuance for each cohort. All other cash flow assumptions are established at contract issuance and reviewed annually or more frequently if actual experience suggests a revision is necessary. The effects of changes in cash flow assumptions impacting the net premium ratio are recorded as remeasurement changes in the period in which they are made. As cash flow assumptions are reviewed at least annually, there is no provision for adverse deviation included within the liability. Actual experience is recognized in the period in which the experience arises. Actual experience is then incorporated into the net premium ratio for all products and cohorts on a quarterly basis. When the net premium ratio is revised, whether to incorporate actual experience each reporting period or for the review of cash flow assumptions, the liability is recalculated as of the beginning of the period, discounted at the original contract issuance discount rate, and compared with the carrying amount of the liability as of the same date to determine the current period change. The current period change in the liability is recognized as a remeasurement gain or loss. To the extent the present value of benefits and expenses exceeds the present value of gross premiums, we will cap the net premium ratio at 100% by increasing the corresponding liability and recognizing an immediate loss through the condensed consolidated statements of income (loss). The liability is never recorded at an amount less than zero for the cohort. The liability for nonparticipating long-duration contracts is discounted using an upper-medium grade fixed income instrument yield aligned to the duration of the liability. In determining reference portfolio of instruments, we have used a single A equivalent level rate and maximized the use of observable data to the extent possible for the duration of our liabilities. The discount rate is required to be updated at the end of each reporting period for the remeasurement of the liability but is locked-in for each cohort for the purpose of interest accretion expense. Changes in the value of the liability for nonparticipating long-duration contracts due to changes in the discount rate are recognized as a component of OCI on the condensed consolidated statements of comprehensive income (loss). The change in the liability for the remeasurement gain or loss and all other changes in the liability are recorded in future policy and other policy benefits on the condensed consolidated statements of income (loss). Future policy benefits include liabilities for no-lapse guarantees on universal life insurance and fixed indexed universal life insurance that do not meet the criteria to be classified and accounted for as a market risk benefit. We establish future policy benefits for no-lapse guarantees by estimating the expected value of death benefits paid after policyholder account balances have been exhausted. We recognize these benefits proportionally over the life of the contracts based on total actual and expected assessments. The methods we use to estimate the liabilities have assumptions about policyholder behavior, mortality, expected yield on investments supporting the liability and market conditions affecting policyholder account balance growth. For the liabilities associated with no-lapse guarantees, each reporting period we update expected excess benefits and assessments with actual excess benefits and assessments and adjust the liability balances due to the OCI effects of unrealized investment gains and losses on available-for-sale (AFS) securities. We also periodically revise the key assumptions used in the calculation of the liabilities that result in revisions to the expected excess benefits and assessments. The effects of changes in assumptions are recorded as unlocking in the period in which the changes are made. Changes in the liabilities associated with no-lapse guarantees, other than the adjustment for the OCI effects of unrealized investment gains and losses on AFS securities, are recorded in future policy and other policy benefits on the condensed consolidated statements of income (loss). Future policy benefits are not reduced for amounts ceded under reinsurance agreements which are reported as reinsurance recoverable on the condensed consolidated balance sheets.
Market Risk Benefits	Market risk benefits represent contracts or contract features that both provide protection to the contract holder from, and expose the insurance entity to, other-than-nominal capital market risk. We issue and reinsure deferred annuity contracts which contain guaranteed lifetime withdrawal benefits (GLWB) and guaranteed minimum death benefit (GMDB) riders that meet the criteria for, and are classified as, market risk benefits. Market risk benefits are measured at fair value at the contract level and may be recorded as a liability or an asset, which are included in market risk benefits or other assets, respectively, on the condensed consolidated balance sheets. Multiple market risk benefits on a contract are treated as a single, compound market risk benefit. At contract inception, we assess the fees and assessments that are collectible from the policyholder and allocate them to the extent they are attributable to the market risk benefit. These attributed fees are used in the valuation of the market risk benefits and are never negative or exceed total explicit fees collectible from the policyholder. If the fees are sufficient to cover the projected benefits, a non-option based valuation model is used. If the fees are insufficient to cover the projected benefits, an option-based valuation model is used to compute the market risk benefit liability at contract inception, with an equal and offsetting adjustment recognized in interest sensitive contract liabilities. Changes in fair value of market risk benefits are recorded in market risk benefits remeasurement (gains) losses on the condensed consolidated statements of income (loss), excluding portions attributed to changes in instrument-specific credit risk, which are recorded in OCI on the condensed consolidated statements of comprehensive income (loss). Market risk benefits are not reduced for market risk benefits ceded under reinsurance agreements. Ceded market risk benefits are measured at fair value and recorded within reinsurance recoverable on the condensed consolidated balance sheets. Upon annuitization of the contract or the extinguishment of the account balance, the market risk benefit, related annuity contract and unamortized deferred costs are derecognized, including amounts within AOCI. A payout annuity is then established for GLWBs.
Recognition of Revenues and Related Expenses	Revenues for universal life-type policies and investment contracts, including surrender and market value adjustments, costs of insurance, policy administration, GMDB, GLWB and no-lapse guarantee charges, are earned when assessed against policyholder account balances during the period. Interest credited to policyholder account balances and the change in fair value of embedded derivatives within fixed indexed annuity contracts is included in interest sensitive contract benefits on the condensed consolidated statements of income (loss). Premiums for long-duration contracts, including products with fixed and guaranteed premiums and benefits, are recognized as revenue when due from policyholders. When premiums are due over a significantly shorter period than the period over which benefits are provided, such as immediate annuities with life contingencies (which includes pension group annuities), a deferred profit liability is established equal to the excess of the gross premium over the net premium. The deferred profit liability is recognized in future policy benefits on the condensed consolidated balance sheets and amortized into income in relation to applicable policyholder liabilities through future policy and other policy benefits on the condensed consolidated statements of income (loss). When the net premium ratio for the corresponding future policy benefit is updated for actual experience and changes to projected cash flow assumptions, the deferred profit liability is retrospectively recalculated from the contract issuance date through the beginning of the current reporting period. The revised deferred profit liability is compared to the beginning of the period carrying amount to determine the change to be recognized as a remeasurement gain or loss within future policy and other policy benefits on the condensed consolidated statements of income (loss). Unlike the related future policy benefit, the deferred profit liability will not be remeasured for changes in discount rates each reporting period. Negative VOBA balances associated with payout contracts involving life contingencies, including pension group annuities, are accounted for in a manner similar to the deferred profit liability. All insurance-related revenue is reported net of reinsurance ceded.
Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Business Combinations – Joint Venture Formations (ASU 2023-05) The amendments in this update address how a joint venture initially recognizes and measures contributions received at its formation date. The amendments require a joint venture to apply a new basis of accounting upon formation and to initially recognize its assets and liabilities at fair value. The guidance is effective prospectively for all joint ventures formed on or after January 1, 2025, while retrospective application may be elected for a joint venture formed before the effective date. Early adoption is permitted. We are currently evaluating the impact of the new pronouncement. Investments – Equity Method and Joint Ventures (Accounting Standards Update (ASU) 2023-02) The amendments in this update introduce the option of applying the proportional amortization method (PAM) to account for investments made primarily for the purpose of receiving income tax credits or other income tax benefits when certain requirements are met. Currently, PAM only applies to low-income housing tax credit (LIHTC) investments. The guidance is effective for us on January 1, 2024; however, early adoption is permitted. We are currently evaluating the impact of the new pronouncement. Adopted Accounting Pronouncements Insurance – Targeted Improvements to the Accounting for Long-Duration Contracts (ASU 2020-11, ASU 2019-09, ASU 2018-12) These updates amend four key areas pertaining to the accounting and disclosures for long-duration insurance and investment contracts and are commonly referred to as long-duration targeted improvements (LDTI). • The update requires cash flow assumptions used to measure the liability for future policy benefits to be updated at least annually and no longer allows a provision for adverse deviation. The remeasurement of the liability associated with the update of assumptions is required to be recognized in net income. Loss recognition testing is eliminated for traditional and limited-payment contracts. The update also requires the discount rate used in measuring the liability to be an upper-medium grade fixed income instrument yield, which is to be updated at each reporting date. The change in liability due to changes in the discount rate is to be recognized in other comprehensive income. • The update simplifies the amortization of DAC and other balances amortized in proportion to premiums, gross profits or gross margins, requiring such balances to be amortized on a constant level basis over the expected term of the contracts. Deferred costs are required to be written off for unexpected contract terminations but are not subject to impairment testing. • The update requires certain contract features meeting the definition of market risk benefits to be measured at fair value. Among the features included in this definition are GLWB and GMDB riders attached to our annuity products. The change in fair value of the market risk benefits is to be recognized in net income, excluding the portion attributable to changes in instrument-specific credit risk which is recognized in other comprehensive income. • The update also introduces disclosure requirements around the liability for future policy benefits, policyholder account balances, market risk benefits, separate account liabilities and deferred acquisition costs. This includes disaggregated rollforwards of these balances and information about significant inputs, judgments, assumptions and methods used in their measurement. We adopted LDTI as of January 1, 2023 and, for all provisions of the update, applied a retrospective transition approach using a transition date of January 1, 2022, the date of our merger with AGM. At the merger date, VOBA balances were established as the difference between the fair value of the liabilities and the reserves established as of this date. Upon transition to LDTI, the liability for future policy benefits and contractual features that meet the criteria for market risk benefits were adjusted to conform to LDTI, with an offsetting adjustment made to positive or negative VOBA. No adjustments were recorded to AOCI or retained deficit as of the transition date. See Note 2 – Adoption of Accounting Pronouncement for the effects of LDTI adoption on our 2022 condensed consolidated financial statements. Reference Rate Reform (Topic 848) (Accounting Standards Update (ASU) 2022-06, ASU 2021-01, ASU 2020-04) We adopted ASU 2020-04 and ASU 2021-01 and elected to apply certain of the practical expedients related to contract modifications, hedge accounting relationships, and derivative modifications pertaining to discounting, margining, or contract price alignment. The main purpose of the practical expedients is to ease the administrative burden of accounting for contracts impacted by reference rate reform, and these elections did not have, and are not expected to have, a material impact on the consolidated financial statements. ASU 2022-06 amended and deferred the sunset date of Topic 848 from December 31, 2022, to December 31, 2024, after which we will no longer be permitted to apply the expedients provided in Topic 848. We will continue to evaluate the impact of reference rate reform on contract modifications and hedging relationships. Fair Value Measurement — Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (ASU 2022-03) This amendment clarifies guidance that a restriction that is a characteristic of the holding entity, rather than a characteristic of the equity security itself, should not be considered in its fair value measurement. As a result, we are required to measure the fair value of equity securities subject to contractual restrictions attributable to the holding entity on the basis of the market price of the same equity security without those contractual restrictions. Companies are not permitted to recognize a contractual sale restriction attributable to the holding entity as a separate unit of account. The guidance also requires disclosures for these equity securities. We early adopted this update effective July 1, 2023. The adoption of this update was applied on a prospective basis and did not have a material effect on our condensed consolidated financial statements.

Adoption of Accounting Pronou_2

Adoption of Accounting Pronouncement (Tables)	9 Months Ended
	Sep. 30, 2023
Accounting Changes and Error Corrections [Abstract]
Accounting Standards Update and Change in Accounting Principle	The following represents the effects of LDTI adoption on the applicable financial statement lines of our condensed consolidated balance sheet: December 31, 2022 (In millions) Reported Adoption Adjusted Assets Reinsurance recoverable $ 4,367 $ (9) $ 4,358 Deferred acquisition costs, deferred sales inducements and value of business acquired 5,576 (1,110) 4,466 Other assets 9,690 (997) 8,693 Total assets $ 246,047 $ (2,116) $ 243,931 Liabilities and Equity Liabilities Interest sensitive contract liabilities $ 173,653 $ (37) $ 173,616 Future policy benefits 55,328 (13,218) 42,110 Market risk benefits — 2,970 2,970 Total liabilities 243,667 (10,285) 233,382 Equity Retained deficit (4,892) 1,252 (3,640) Accumulated other comprehensive income (loss) (12,311) 4,990 (7,321) Total Athene Holding Ltd. shareholders’ equity 916 6,242 7,158 Noncontrolling interests 1,464 1,927 3,391 Total equity 2,380 8,169 10,549 Total liabilities and equity $ 246,047 $ (2,116) $ 243,931 The following represents the effects of LDTI adoption on the applicable financial statement lines of our condensed consolidated statements of income (loss): Three months ended March 31, 2022 (In millions) Reported Adoption Adjusted Revenues Investment related gains (losses) $ (4,200) $ (12) $ (4,212) Total revenues (269) (12) (281) Benefits and expenses Interest sensitive contract benefits (41) (58) (99) Future policy and other policy benefits 2,085 99 2,184 Market risk benefits remeasurement (gains) losses — (622) (622) Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired 125 (27) 98 Policy and other operating expenses 335 3 338 Total benefits and expenses 2,504 (605) 1,899 Income (loss) before income taxes (2,773) 593 (2,180) Income tax expense (benefit) (407) 123 (284) Net income (loss) (2,366) 470 (1,896) Less: Net income (loss) attributable to noncontrolling interests (883) 2 (881) Net income (loss) attributable to Athene Holding Ltd. shareholders (1,483) 468 (1,015) Less: Preferred stock dividends 35 — 35 Net income (loss) available to Athene Holding Ltd. common shareholder $ (1,518) $ 468 $ (1,050) Six months ended June 30, 2022 (In millions) Reported Adoption Adjusted Revenues Total revenues $ 1,526 $ — $ 1,526 Benefits and expenses Interest sensitive contract benefits (662) (90) (752) Future policy and other policy benefits 7,694 266 7,960 Market risk benefits remeasurement (gains) losses — (1,231) (1,231) Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired 250 (44) 206 Policy and other operating expenses 693 2 695 Total benefits and expenses 7,975 (1,097) 6,878 Income (loss) before income taxes (6,449) 1,097 (5,352) Income tax expense (benefit) (891) 229 (662) Net income (loss) (5,558) 868 (4,690) Less: Net loss attributable to noncontrolling interests (1,955) (15) (1,970) Net income (loss) attributable to Athene Holding Ltd. shareholders (3,603) 883 (2,720) Less: Preferred stock dividends 70 — 70 Net income (loss) available to Athene Holding Ltd. common shareholder $ (3,673) $ 883 $ (2,790) Nine months ended September 30, 2022 (In millions) Reported Adoption Adjusted Revenues Investment related gains (losses) $ (12,812) $ 1 $ (12,811) Total revenues 3,835 1 3,836 Benefits and expenses Interest sensitive contract benefits (573) (8) (581) Future policy and other policy benefits 10,988 242 11,230 Market risk benefits remeasurement (gains) losses — (1,689) (1,689) Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired 375 (57) 318 Policy and other operating expenses 1,081 2 1,083 Total benefits and expenses 11,871 (1,510) 10,361 Income (loss) before income taxes (8,036) 1,511 (6,525) Income tax expense (benefit) (1,101) 318 (783) Net income (loss) (6,935) 1,193 (5,742) Less: Net income (loss) attributable to noncontrolling interests (2,431) (4) (2,435) Net income (loss) attributable to Athene Holding Ltd. shareholders (4,504) 1,197 (3,307) Less: Preferred stock dividends 105 — 105 Net income (loss) available to Athene Holding Ltd. common shareholder $ (4,609) $ 1,197 $ (3,412) Year ended December 31, 2022 (In millions) Reported Adoption Adjusted Revenues Total revenues $ 7,623 $ — $ 7,623 Benefits and expenses Interest sensitive contract benefits 541 (3) 538 Future policy and other policy benefits 12,310 155 12,465 Market risk benefits remeasurement (gains) losses — (1,657) (1,657) Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired 509 (65) 444 Policy and other operating expenses 1,493 2 1,495 Total benefits and expenses 14,853 (1,568) 13,285 Income (loss) before income taxes (7,230) 1,568 (5,662) Income tax expense (benefit) (976) 330 (646) Net income (loss) (6,254) 1,238 (5,016) Less: Net loss attributable to noncontrolling interests (2,092) (14) (2,106) Net income (loss) attributable to Athene Holding Ltd. shareholders (4,162) 1,252 (2,910) Less: Preferred stock dividends 141 — 141 Net income (loss) available to Athene Holding Ltd. common shareholder $ (4,303) $ 1,252 $ (3,051) The following represents the effects of LDTI adoption on the applicable financial statement lines of our condensed consolidated statements of comprehensive income (loss): Three months ended March 31, 2022 (In millions) Reported Adoption Adjusted Net income (loss) $ (2,366) $ 470 $ (1,896) Other comprehensive income (loss), before tax Unrealized investment gains (losses) on available-for-sale securities (6,430) (267) (6,697) Remeasurement gains (losses) on future policy benefits related to discount rate — 3,562 3,562 Remeasurement gains (losses) on market risk benefits related to credit risk — 397 397 Foreign currency translation and other adjustments 4 (6) (2) Other comprehensive income (loss), before tax (6,555) 3,686 (2,869) Income tax expense (benefit) related to other comprehensive income (loss) (1,170) 555 (615) Other comprehensive income (loss) (5,385) 3,131 (2,254) Comprehensive income (loss) (7,751) 3,601 (4,150) Less: Comprehensive income (loss) attributable to noncontrolling interests (1,594) 777 (817) Comprehensive income (loss) attributable to Athene Holding Ltd. shareholders $ (6,157) $ 2,824 $ (3,333) Six months ended June 30, 2022 (In millions) Reported Adoption Adjusted Net income (loss) $ (5,558) $ 868 $ (4,690) Other comprehensive income (loss), before tax Unrealized investment gains (losses) on available-for-sale securities (13,703) (547) (14,250) Remeasurement gains (losses) on future policy benefits related to discount rate — 6,459 6,459 Remeasurement gains (losses) on market risk benefits related to credit risk — 576 576 Foreign currency translation and other adjustments (54) (27) (81) Other comprehensive income (loss), before tax (13,805) 6,461 (7,344) Income tax expense (benefit) related to other comprehensive income (loss) (2,453) 960 (1,493) Other comprehensive income (loss) (11,352) 5,501 (5,851) Comprehensive income (loss) (16,910) 6,369 (10,541) Less: Comprehensive income (loss) attributable to noncontrolling interests (3,520) 1,397 (2,123) Comprehensive income (loss) attributable to Athene Holding Ltd. shareholders $ (13,390) $ 4,972 $ (8,418) Nine months ended September 30, 2022 (In millions) Reported Adoption Adjusted Net income (loss) $ (6,935) $ 1,193 $ (5,742) Other comprehensive income (loss), before tax Unrealized investment gains (losses) on available-for-sale securities (19,414) (764) (20,178) Remeasurement gains (losses) on future policy benefits related to discount rate — 8,833 8,833 Remeasurement gains (losses) on market risk benefits related to credit risk — 524 524 Foreign currency translation and other adjustments (13) (59) (72) Other comprehensive income (loss), before tax (19,555) 8,534 (11,021) Income tax expense (benefit) related to other comprehensive income (loss) (3,444) 1,224 (2,220) Other comprehensive income (loss) (16,111) 7,310 (8,801) Comprehensive income (loss) (23,046) 8,503 (14,543) Less: Comprehensive income (loss) attributable to noncontrolling interests (4,787) 2,024 (2,763) Comprehensive income (loss) attributable to Athene Holding Ltd. shareholders $ (18,259) $ 6,479 $ (11,780) Year ended December 31, 2022 (In millions) Reported Adoption Adjusted Net income (loss) $ (6,254) $ 1,238 $ (5,016) Other comprehensive income (loss), before tax Unrealized investment gains (losses) on available-for-sale securities (17,457) (699) (18,156) Remeasurement gains (losses) on future policy benefits related to discount rate — 8,425 8,425 Remeasurement gains (losses) on market risk benefits related to credit risk — 366 366 Foreign currency translation and other adjustments (16) (11) (27) Other comprehensive income (loss), before tax (17,471) 8,081 (9,390) Income tax expense (benefit) related to other comprehensive income (loss) (3,083) 1,150 (1,933) Other comprehensive income (loss) (14,388) 6,931 (7,457) Comprehensive income (loss) (20,642) 8,169 (12,473) Less: Comprehensive income (loss) attributable to noncontrolling interests (4,169) 1,927 (2,242) Comprehensive income (loss) attributable to Athene Holding Ltd. shareholders $ (16,473) $ 6,242 $ (10,231) The following represents the effects of LDTI adoption on the applicable financial statement lines of our condensed consolidated statements of cash flows: Three months ended March 31, 2022 (In millions) Reported Adoption Adjusted Net income (loss) $ (2,366) $ 470 $ (1,896) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired 125 (27) 98 Net recognized (gains) losses on investments and derivatives 1,813 12 1,825 Changes in operating assets and liabilities: Interest sensitive contract liabilities (480) (68) (548) Future policy benefits, market risk benefits and reinsurance recoverable (266) (510) (776) Other assets and liabilities (734) 123 (611) Net cash provided by operating activities 155 — 155 Net cash used in investing activities (6,165) — (6,165) Net cash provided by financing activities 5,463 — 5,463 Effect of exchange rate changes on cash and cash equivalents (4) — (4) Net decrease in cash and cash equivalents (551) — (551) Cash and cash equivalents at beginning of year 1 10,429 — 10,429 Cash and cash equivalents at end of period 1 $ 9,878 $ — $ 9,878 1 Includes cash and cash equivalents, restricted cash and cash and cash equivalents of consolidated variable interest entities. Six months ended June 30, 2022 (In millions) Reported Adoption Adjusted Net income (loss) $ (5,558) $ 868 $ (4,690) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired 250 (44) 206 Changes in operating assets and liabilities: Interest sensitive contract liabilities (1,604) (120) (1,724) Future policy benefits, market risk benefits and reinsurance recoverable 3,933 (933) 3,000 Other assets and liabilities (1,139) 229 (910) Net cash provided by operating activities 4,726 — 4,726 Net cash used in investing activities (11,719) — (11,719) Net cash provided by financing activities 8,707 — 8,707 Effect of exchange rate changes on cash and cash equivalents (20) — (20) Net increase in cash and cash equivalents 1,694 — 1,694 Cash and cash equivalents at beginning of year 1 10,429 — 10,429 Cash and cash equivalents at end of period 1 $ 12,123 $ — $ 12,123 1 Includes cash and cash equivalents, restricted cash and cash and cash equivalents of consolidated variable interest entities. Nine months ended September 30, 2022 (In millions) Reported Adoption Adjusted Net income (loss) $ (6,935) $ 1,193 $ (5,742) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired 375 (57) 318 Net recognized (gains) losses on investments and derivatives 5,958 (1) 5,957 Changes in operating assets and liabilities: Interest sensitive contract liabilities (2,002) (50) (2,052) Future policy benefits, market risk benefits and reinsurance recoverable 5,240 (1,403) 3,837 Other assets and liabilities (1,586) 318 (1,268) Net cash provided by operating activities 6,077 — 6,077 Net cash used in investing activities (22,338) — (22,338) Net cash provided by financing activities 17,115 — 17,115 Effect of exchange rate changes on cash and cash equivalents (18) — (18) Net increase in cash and cash equivalents 836 — 836 Cash and cash equivalents at beginning of year 1 10,429 — 10,429 Cash and cash equivalents at end of period 1 $ 11,265 $ — $ 11,265 1 Includes cash and cash equivalents, restricted cash and cash and cash equivalents of consolidated variable interest entities. Year ended December 31, 2022 (In millions) Reported Adoption Adjusted Net income (loss) $ (6,254) $ 1,238 $ (5,016) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired 509 (65) 444 Changes in operating assets and liabilities: Interest sensitive contract liabilities (1,269) (68) (1,337) Future policy benefits, market risk benefits and reinsurance recoverable 5,339 (1,438) 3,901 Other assets and liabilities (1,527) 333 (1,194) Net cash provided by operating activities 6,258 — 6,258 Net cash used in investing activities (34,375) — (34,375) Net cash provided by financing activities 26,472 — 26,472 Effect of exchange rate changes on cash and cash equivalents (15) — (15) Net decrease in cash and cash equivalents (1,660) — (1,660) Cash and cash equivalents at beginning of year 1 10,429 — 10,429 Cash and cash equivalents at end of year 1 $ 8,769 $ — $ 8,769 1 Includes cash and cash equivalents, restricted cash and cash and cash equivalents of consolidated variable interest entities.
Liability for Future Policy Benefit, Activity	The following table summarizes future policy benefits and changes to the liability: (In millions) Traditional deferred annuities Indexed annuities Payout annuities Reconciling items 1 Total Balance as of January 1, 2022 $ 221 $ 5,389 $ 32,872 $ 8,632 $ 47,114 Change in discount rate assumptions — — 2,406 — 2,406 Adjustment for removal of balances related to market risk benefits (221) (5,389) — — (5,610) Adjustment for offsetting balance in negative VOBA 2 — — — (2,428) (2,428) Adjusted balance as of January 1, 2022 $ — $ — $ 35,278 $ 6,204 $ 41,482 1 Reconciling items primarily include negative VOBA associated with our liability for future policy benefits, as well as reserves for our immaterial lines of business including term and whole life, accident and health and disability, as well as other insurance benefit reserves for our no-lapse guarantees with universal life contracts, all of which are fully ceded. 2 Uneliminated adjustments were recorded to positive VOBA within deferred acquisition costs, deferred sales inducements and value of business acquired on the condensed consolidated balance sheets. The following is a rollforward of the expected value of future policy benefits: Payout annuities with life contingencies Nine months ended September 30, (In millions) 2023 2022 Present value of expected future policy benefits Beginning balance $ 36,422 $ 35,278 Effect of changes in discount rate assumptions 8,425 — Beginning balance at original discount rate 44,847 35,278 Effect of changes in cash flow assumptions (297) — Effect of actual experience compared to expected experience (36) (115) Adjusted balance 44,514 35,163 Issuances 9,120 10,666 Interest accrual 1,194 802 Benefit payments (2,731) (2,193) Foreign exchange 5 (90) Other 1 (1,509) — Ending balance at original discount rate 50,593 44,348 Effect of changes in discount rate assumptions (9,753) (8,833) Ending balance $ 40,840 $ 35,515 1 Other represents $1,509 million reduction of reserves related to the VIAC recapture agreement. See Note 13 – Related Parties for further information. The following is a reconciliation of premiums to the condensed consolidated statements of income (loss): Nine months ended September 30, (In millions) 2023 2022 Payout annuities with life contingencies $ 9,142 $ 10,745 Reconciling items 1 21 24 Premiums $ 9,163 $ 10,769 1 Reconciling items premiums related to our immaterial lines of business including term and whole life, and accident and health and disability. The following represents the undiscounted and discounted expected future benefit payments for the liability for future policy benefits. As these relate to payout annuities for single premium immediate annuities with life contingencies, there are no expected future gross premiums. September 30, 2023 September 30, 2022 (In millions) Undiscounted Discounted Undiscounted Discounted Expected future benefit payments $ 73,933 $ 50,593 $ 63,743 $ 44,348 The following represents the weighted-average durations and the weighted-average interest rates of future policy benefits: September 30, 2023 2022 Weighted-average liability duration (in years) 9.6 10.2 Weighted-average interest accretion rate 3.6 % 3.1 % Weighted-average current discount rate 6.1 % 5.6 %
Market Risk Benefit, Activity	The following table presents the net liability position of market risk benefits: (In millions) Traditional deferred annuities Indexed annuities Total Balance as of January 1, 2022 $ — $ — $ — Adjustment for addition of existing balances 1 221 5,389 5,610 Adjustment to positive VOBA due to fair value adjustment for market risk benefits 2 32 (1,165) (1,133) Adjustment to negative VOBA due to fair value adjustment for market risk benefits 3 — (30) (30) Adjusted balance as of January 1, 2022 $ 253 $ 4,194 $ 4,447 1 Previously recorded within future policy benefits on the condensed consolidated balance sheets. 2 Previously recorded within deferred acquisition costs, deferred sales inducements and value of business acquired on the condensed consolidated balance sheets. 3 Previously recorded within interest sensitive contract liabilities on the condensed consolidated balance sheets. The following table represents market risk benefits by asset and liability positions: (In millions) Asset 1 Liability Net liability Traditional deferred annuities $ — $ 253 $ 253 Indexed annuities 366 4,560 4,194 Adjusted balance as of January 1, 2022 $ 366 $ 4,813 $ 4,447 1 Included in other assets on the condensed consolidated balance sheets. The following is a rollfoward of net market risk benefit liabilities by product: Nine months ended September 30, 2023 (In millions) Traditional deferred annuities Indexed annuities Total Balance at December 31, 2022 $ 170 $ 2,319 $ 2,489 Effect of changes in instrument-specific credit risk 13 353 366 Balance, beginning of period, before changes in instrument-specific credit risk 183 2,672 2,855 Issuances — 47 47 Interest accrual 7 108 115 Attributed fees collected 2 250 252 Benefit payments (1) (24) (25) Effect of changes in interest rates (18) (591) (609) Effect of changes in equity — (26) (26) Effect of actual behavior compared to expected behavior 4 42 46 Effect of changes in future expected policyholder behavior (3) 78 75 Effect of changes in other future expected assumptions — 6 6 Balance, end of period, before changes in instrument-specific credit risk 174 2,562 2,736 Effect of changes in instrument-specific credit risk (7) (139) (146) Balance at September 30, 2023 $ 167 $ 2,423 $ 2,590 September 30, 2023 Net amount at risk $ 425 $ 14,438 $ 14,863 Weighted-average attained age of contract holders (in years) 75 69 69 Nine months ended September 30, 2022 (In millions) Traditional deferred annuities Indexed annuities Total Balance at January 1, 2022 $ 253 $ 4,194 $ 4,447 Issuances — 42 42 Interest accrual 2 24 26 Attributed fees collected 2 245 247 Benefit payments (3) (38) (41) Effect of changes in interest rates (77) (2,016) (2,093) Effect of changes in equity — 188 188 Effect of actual behavior compared to expected behavior 4 27 31 Effect of changes in other future expected assumptions (2) (41) (43) Balance, end of period, before changes in instrument-specific credit risk 179 2,625 2,804 Effect of changes in instrument-specific credit risk (18) (506) (524) Balance at September 30, 2022 $ 161 $ 2,119 $ 2,280 September 30, 2022 Net amount at risk $ 421 $ 13,169 $ 13,590 Weighted-average attained age of contract holders (in years) 75 69 69 The following is a reconciliation of market risk benefits to the condensed consolidated balance sheets. Market risk benefit assets are included in other assets on the condensed consolidated balance sheets. September 30, 2023 September 30, 2022 (In millions) Asset Liability Net liability Asset Liability Net liability Traditional deferred annuities $ — $ 167 $ 167 $ — $ 161 $ 161 Indexed annuities 431 2,854 2,423 511 2,630 2,119 Total $ 431 $ 3,021 $ 2,590 $ 511 $ 2,791 $ 2,280
Deferred Acquisition Costs	The following table summarizes the change in deferred acquisition costs, deferred sales inducements and value of business acquired: (In millions) VOBA Balance as of January 1, 2022 $ 4,527 Change in discount rate assumptions for future policy benefits (22) Fair value adjustment of market risk benefits (1,133) Adjusted balance as of January 1, 2022 $ 3,372 The following represents a rollforward of DAC and DSI by product, and a rollforward of VOBA. See Note 9 – Long-duration Contracts for more information on our products. Nine months ended September 30, 2023 DAC DSI VOBA Total DAC, DSI and VOBA (In millions) Traditional deferred annuities Indexed annuities Funding agreements Other investment-type Indexed annuities Balance at December 31, 2022 $ 304 $ 755 $ 11 $ 9 $ 399 $ 2,988 $ 4,466 Additions 426 609 2 3 447 — 1,487 Amortization (74) (69) (3) (1) (40) (315) (502) Other — — — — — (3) (3) Balance at September 30, 2023 $ 656 $ 1,295 $ 10 $ 11 $ 806 $ 2,670 $ 5,448 Nine months ended September 30, 2022 DAC DSI VOBA Total DAC, DSI and VOBA (In millions) Traditional deferred annuities Indexed annuities Funding agreements Other investment-type Indexed annuities Balance at January 1, 2022 $ — $ — $ — $ — $ — $ 3,372 $ 3,372 Additions 175 555 13 7 266 — 1,016 Amortization (5) (17) (2) — (5) (289) (318) Balance at September 30, 2022 $ 170 $ 538 $ 11 $ 7 $ 261 $ 3,083 $ 4,070

Business Combination (Tables)

Business Combination (Tables)	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions, by Acquisition	(In millions, except exchange ratio and share price data) Consideration AHL common shares purchased 138 Exchange ratio 1.149 Shares of common stock issued in exchange 158 AGM Class A shares closing price $ 72.43 Total merger consideration at closing $ 11,455 Fair value of estimated RSUs, options and warrants assumed and other equity consideration 699 Effective settlement of pre-existing relationships 896 Total merger consideration 13,050 Fair value of AHL common shares previously held by Apollo and other adjustments 4,554 Total AHL equity value held by AGM 17,604 Fair value of preferred stock 2,666 Noncontrolling interests 2,276 Total AHL equity value $ 22,546 The following represents the calculation of goodwill and fair value amounts recognized: (In millions) Fair value and goodwill calculation Merger consideration $ 13,050 Fair value of AHL common shares previously held by Apollo and other adjustments 4,554 Total AHL equity value held by AGM 17,604 Assets Investments $ 176,015 Cash and cash equivalents 9,479 Restricted cash 796 Investment in related parties 33,863 Reinsurance recoverable 4,977 VOBA 3,372 Other assets 6,115 Assets of consolidated variable interest entities 3,635 Estimated fair value of total assets acquired by AGM 238,252 Liabilities Interest sensitive contract liabilities 160,241 Future policy benefits 41,482 Market risk benefits 4,813 Debt 3,295 Payables for collateral on derivatives and securities to repurchase 7,044 Other liabilities 2,443 Liabilities of consolidated variable interest entities 461 Estimated fair value of total liabilities assumed by AGM 219,779 Identifiable net assets 18,473 Less: Fair value of preferred stock 2,666 Less: Fair value of noncontrolling interests 2,276 Estimated fair value of net assets acquired by AGM, excluding goodwill 13,531 Goodwill attributable to AHL $ 4,073 Distribution channels These assets are valued using the excess earnings method, which derives value based on the present value of the cash flow attributable to the distribution channels, less returns for contributory assets. Amortization of these assets is on a straight-line basis. Trade name This represents the Athene trade name and was valued using the relief-from-royalty method considering publicly available third-party trade name royalty rates as well as expected premiums generated by the use of the trade name over its anticipated life. Amortization of this asset is on a straight-line basis. Insurance licenses Licenses are protected through registration and were valued using the market approach based on third-party market transactions from which the prices paid for state insurance licenses could be derived. These assets are not amortized.
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	The fair value and weighted average estimated useful life of identifiable intangible assets consists of the following: Fair value (in millions) Weighted average useful life (in years) VOBA $ 3,372 7 Distribution channels 1,870 18 Trade name 160 20 Insurance licenses 26 Indefinite Total $ 5,428

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2023
Schedule of Investments [Abstract]
Available-for-sale Securities	The following table represents the amortized cost, allowance for credit losses, gross unrealized gains and losses and fair value of our AFS investments by asset type: September 30, 2023 (In millions) Amortized Cost Allowance for Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value AFS securities US government and agencies $ 5,506 $ — $ — $ (1,246) $ 4,260 US state, municipal and political subdivisions 1,273 — — (311) 962 Foreign governments 1,279 (27) 6 (343) 915 Corporate 83,029 (140) 68 (15,656) 67,301 CLO 19,641 (3) 171 (883) 18,926 ABS 11,608 (30) 23 (794) 10,807 CMBS 6,092 (7) 12 (601) 5,496 RMBS 7,888 (371) 161 (630) 7,048 Total AFS securities 136,316 (578) 441 (20,464) 115,715 AFS securities – related parties Corporate 1,426 — 1 (71) 1,356 CLO 4,390 — 19 (174) 4,235 ABS 8,762 (1) 17 (384) 8,394 Total AFS securities – related parties 14,578 (1) 37 (629) 13,985 Total AFS securities including related parties $ 150,894 $ (579) $ 478 $ (21,093) $ 129,700 December 31, 2022 (In millions) Amortized Cost Allowance for Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value AFS securities US government and agencies $ 3,333 $ — $ — $ (756) $ 2,577 US state, municipal and political subdivisions 1,218 — — (291) 927 Foreign governments 1,207 (27) 3 (276) 907 Corporate 74,644 (61) 92 (13,774) 60,901 CLO 17,722 (7) 115 (1,337) 16,493 ABS 11,447 (29) 15 (906) 10,527 CMBS 4,636 (5) 6 (479) 4,158 RMBS 6,775 (329) 64 (596) 5,914 Total AFS securities 120,982 (458) 295 (18,415) 102,404 AFS securities – related parties Corporate 1,028 — 1 (47) 982 CLO 3,346 (1) 10 (276) 3,079 ABS 6,066 — 3 (309) 5,760 Total AFS securities – related parties 10,440 (1) 14 (632) 9,821 Total AFS securities including related parties $ 131,422 $ (459) $ 309 $ (19,047) $ 112,225 The following summarizes the number of AFS securities that were in an unrealized loss position, including related parties, for which an allowance for credit losses has not been recorded: September 30, 2023 Unrealized loss position Unrealized loss position 12 months or more AFS securities 9,552 7,841 AFS securities – related parties 203 139
Debt Securities, Available-for-sale, Allowance for Credit Loss	Allowance for Credit Losses — The following table summarizes the activity in the allowance for credit losses for AFS securities including purchased credit deteriorated (PCD) securities by asset type: Three months ended September 30, 2023 Additions Reductions (In millions) Beginning balance Initial credit losses Initial credit losses on PCD securities Securities sold during the period Securities intended to be sold prior to recovery of amortized cost basis Additions (reductions) to previously impaired securities Ending balance AFS securities Foreign governments $ 27 $ — $ — $ — $ — $ — $ 27 Corporate 73 67 — (2) — 2 140 CLO 3 — — — — — 3 ABS 35 1 — (4) — (2) 30 CMBS 6 1 — — — — 7 RMBS 377 4 1 (5) — (6) 371 Total AFS securities 521 73 1 (11) — (6) 578 AFS securities – related parties ABS 1 — — — — — 1 Total AFS securities – related parties 1 — — — — — 1 Total AFS securities including related parties $ 522 $ 73 $ 1 $ (11) $ — $ (6) $ 579 Three months ended September 30, 2022 Additions Reductions (In millions) Beginning balance Initial credit losses Initial credit losses on PCD securities Securities sold during the period Securities intended to be sold prior to recovery of amortized cost basis Additions (reductions) to previously impaired securities Ending balance AFS securities Foreign governments $ 61 $ — $ — $ (28) $ — $ (6) $ 27 Corporate 70 5 — — (6) (3) 66 CLO 107 2 — — — (104) 5 ABS 14 7 — — — (8) 13 CMBS 9 — — — — (6) 3 RMBS 348 1 2 (7) — (23) 321 Total AFS securities 609 15 2 (35) (6) (150) 435 AFS securities – related party CLO 19 — — — — (18) 1 ABS 1 — — — — (1) — Total AFS securities – related party 20 — — — — (19) 1 Total AFS securities including related parties $ 629 $ 15 $ 2 $ (35) $ (6) $ (169) $ 436 Nine months ended September 30, 2023 Additions Reductions (In millions) Beginning balance Initial credit losses Initial credit losses on PCD securities Securities sold during the period Securities intended to be sold prior to recovery of amortized cost basis Additions (reductions) to previously impaired securities Ending balance AFS securities Foreign governments $ 27 $ — $ — $ — $ — $ — $ 27 Corporate 61 88 — (8) — (1) 140 CLO 7 1 — — — (5) 3 ABS 29 2 — (4) — 3 30 CMBS 5 4 — — — (2) 7 RMBS 329 15 40 (13) — — 371 Total AFS securities 458 110 40 (25) — (5) 578 AFS securities – related parties CLO 1 — — — — (1) — ABS — 1 — — — — 1 Total AFS securities – related parties 1 1 — — — (1) 1 Total AFS securities including related parties $ 459 $ 111 $ 40 $ (25) $ — $ (6) $ 579 Nine months ended September 30, 2022 Additions Reductions (In millions) January 1, 2022 Initial credit losses Initial credit losses on PCD securities Securities sold during the period Securities intended to be sold prior to recovery of amortized cost basis Additions (reductions) to previously impaired securities Ending balance AFS securities Foreign governments $ — $ 66 $ — $ (28) $ — $ (11) $ 27 Corporate — 66 — — (6) 6 66 CLO — 24 — — — (19) 5 ABS 5 16 — — — (8) 13 CMBS — 14 — — — (11) 3 RMBS 306 30 3 (24) — 6 321 Total AFS securities 311 216 3 (52) (6) (37) 435 AFS securities – related parties CLO — 3 — — — (2) 1 ABS — 18 — — — (18) — Total AFS securities – related party — 21 — — (20) 1 Total AFS securities including related parties $ 311 $ 237 $ 3 $ (52) $ (6) $ (57) $ 436
Available-for-sale Securities by Contractual Maturity	The amortized cost and fair value of AFS securities, including related parties, are shown by contractual maturity below: September 30, 2023 (In millions) Amortized Cost Fair Value AFS securities Due in one year or less $ 2,232 $ 2,167 Due after one year through five years 15,532 14,370 Due after five years through ten years 22,864 19,179 Due after ten years 50,459 37,722 CLO, ABS, CMBS and RMBS 45,229 42,277 Total AFS securities 136,316 115,715 AFS securities – related parties Due after one year through five years 908 883 Due after five years through ten years 130 123 Due after ten years 388 350 CLO and ABS 13,152 12,629 Total AFS securities – related parties 14,578 13,985 Total AFS securities including related parties $ 150,894 $ 129,700
Fair Values and Unrealized Losses on Available-for-sale Securities	The following summarizes the fair value and gross unrealized losses for AFS securities, including related parties, for which an allowance for credit losses has not been recorded, aggregated by asset type and length of time the fair value has remained below amortized cost: September 30, 2023 Less than 12 months 12 months or more Total (In millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses AFS securities US government and agencies $ 2,023 $ (292) $ 2,167 $ (954) $ 4,190 $ (1,246) US state, municipal and political subdivisions 119 (11) 840 (300) 959 (311) Foreign governments 117 (9) 785 (331) 902 (340) Corporate 17,338 (1,075) 48,290 (14,553) 65,628 (15,628) CLO 685 (21) 12,001 (811) 12,686 (832) ABS 2,780 (116) 4,320 (597) 7,100 (713) CMBS 1,453 (23) 1,883 (501) 3,336 (524) RMBS 1,272 (62) 1,923 (318) 3,195 (380) Total AFS securities 25,787 (1,609) 72,209 (18,365) 97,996 (19,974) AFS securities – related parties Corporate 578 (34) 356 (36) 934 (70) CLO 498 (19) 2,591 (153) 3,089 (172) ABS 2,702 (99) 2,570 (259) 5,272 (358) Total AFS securities – related parties 3,778 (152) 5,517 (448) 9,295 (600) Total AFS securities including related parties $ 29,565 $ (1,761) $ 77,726 $ (18,813) $ 107,291 $ (20,574) December 31, 2022 Less than 12 months 12 months or more Total (In millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses AFS securities US government and agencies $ 2,539 $ (756) $ — $ — $ 2,539 $ (756) US state, municipal and political subdivisions 911 (291) — — 911 (291) Foreign governments 891 (275) — — 891 (275) Corporate 58,256 (13,773) — — 58,256 (13,773) CLO 13,486 (1,277) — — 13,486 (1,277) ABS 8,119 (801) — — 8,119 (801) CMBS 2,650 (427) — — 2,650 (427) RMBS 2,621 (365) — — 2,621 (365) Total AFS securities 89,473 (17,965) — — 89,473 (17,965) AFS securities – related parties Corporate 619 (47) — — 619 (47) CLO 2,752 (273) — — 2,752 (273) ABS 5,487 (308) — — 5,487 (308) Total AFS securities – related parties 8,858 (628) — — 8,858 (628) Total AFS securities including related parties $ 98,331 $ (18,593) $ — $ — $ 98,331 $ (18,593)
Net Investment Income	Net Investment Income —Net investment income by asset class consists of the following: Three months ended September 30, Nine months ended September 30, (In millions) 2023 2022 2023 2022 AFS securities $ 1,822 $ 1,077 $ 4,940 $ 2,885 Trading securities 49 41 135 153 Equity securities 14 17 54 41 Mortgage loans 642 336 1,632 870 Investment funds (13) (35) 59 373 Funds withheld at interest 486 534 1,368 1,347 Other 214 75 623 165 Investment revenue 3,214 2,045 8,811 5,834 Investment expenses (286) (202) (759) (582) Net investment income $ 2,928 $ 1,843 $ 8,052 $ 5,252
Investment Related Gains (Losses)	Investment Related Gains (Losses) —Investment related gains (losses) by asset class consists of the following: Three months ended September 30, Nine months ended September 30, (In millions) 2023 2022 2023 2022 AFS securities 1 Gross realized gains on investment activity $ 55 $ 84 $ 379 $ 404 Gross realized losses on investment activity (431) (761) (647) (2,003) Net realized investment losses on AFS securities (376) (677) (268) (1,599) Net recognized investment losses on trading securities (137) (121) (105) (489) Net recognized investment losses on equity securities (3) (9) (34) (257) Net recognized investment losses on mortgage loans (911) (1,199) (838) (3,094) Derivative losses (1,480) (1,821) (66) (8,794) Provision for credit losses (60) 171 (237) (193) Other gains 343 808 355 1,615 Investment related gains (losses) $ (2,624) $ (2,848) $ (1,193) $ (12,811) 1 Includes the effects of recognized gains or losses on AFS securities associated with designated hedges. The following table summarizes the change in unrealized gains (losses) on trading and equity securities, including related parties, we held as of the respective period end: Three months ended September 30, Nine months ended September 30, (In millions) 2023 2022 2023 2022 Trading securities $ (75) $ (119) $ (35) $ (455) Trading securities – related parties 3 3 3 (3) Equity securities 6 2 9 (237) Equity securities – related parties (9) (18) (16) (31)
Mortgage Loans, Net	Mortgage loans includes both commercial and residential loans. In connection with the merger, we elected the fair value option on our mortgage loan portfolio. See Note 7 – Fair Value for further fair value option information. The following represents the mortgage loan portfolio, with fair value option loans presented at unpaid principal balance: (In millions) September 30, 2023 December 31, 2022 Commercial mortgage loans $ 24,667 $ 21,061 Commercial mortgage loans under development 1,232 790 Total commercial mortgage loans 25,899 21,851 Mark to fair value (2,430) (1,743) Commercial mortgage loans 23,469 20,108 Residential mortgage loans 19,271 11,802 Mark to fair value (1,486) (1,099) Residential mortgage loans 17,785 10,703 Mortgage loans $ 41,254 $ 30,811 The distribution of commercial mortgage loans, including those under development, by property type and geographic region, is as follows: September 30, 2023 December 31, 2022 (In millions, except for percentages) Fair Value Percentage of Total Fair Value Percentage of Total Property type Office building $ 4,325 18.5 % $ 4,651 23.1 % Retail 1,815 7.7 % 1,454 7.2 % Apartment 8,463 36.1 % 6,692 33.3 % Hotels 2,373 10.1 % 1,855 9.2 % Industrial 2,565 10.9 % 2,047 10.2 % Other commercial 3,928 16.7 % 3,409 17.0 % Total commercial mortgage loans $ 23,469 100.0 % $ 20,108 100.0 % US region East North Central $ 1,439 6.1 % $ 1,437 7.1 % East South Central 422 1.8 % 413 2.1 % Middle Atlantic 6,656 28.4 % 5,183 25.8 % Mountain 949 4.0 % 898 4.5 % New England 1,179 5.0 % 1,076 5.4 % Pacific 4,175 17.8 % 3,781 18.8 % South Atlantic 3,879 16.6 % 2,756 13.7 % West North Central 194 0.8 % 231 1.1 % West South Central 981 4.2 % 1,085 5.4 % Total US region 19,874 84.7 % 16,860 83.9 % International region United Kingdom 2,200 9.4 % 1,898 9.4 % Other international 1 1,395 5.9 % 1,350 6.7 % Total international region 3,595 15.3 % 3,248 16.1 % Total commercial mortgage loans $ 23,469 100.0 % $ 20,108 100.0 % 1 Represents all other countries, with each individual country comprising less than 5% of the portfolio. Our residential mortgage loan portfolio includes first lien residential mortgage loans collateralized by properties in various geographic locations and is summarized by proportion of the portfolio in the following table: September 30, 2023 December 31, 2022 US States California 27.9 % 28.9 % Florida 11.8 % 9.7 % New York 6.5 % 5.6 % Texas 5.6 % 4.3 % New Jersey 5.2 % 5.3 % Arizona 4.3 % 5.1 % Other 1 29.7 % 27.4 % Total US residential mortgage loan percentage 91.0 % 86.3 % International United Kingdom 3.8 % 5.4 % Other 2 5.2 % 8.3 % Total international residential mortgage loan percentage 9.0 % 13.7 % Total residential mortgage loan percentage 100.0 % 100.0 % 1 Represents all other states, with each individual state comprising less than 5% of the portfolio. 2 Represents all other countries, with each individual country comprising less than 5% of the portfolio.
Investment Funds	The following summarizes our investment funds, including related parties and consolidated VIEs: September 30, 2023 December 31, 2022 (In millions, except for percentages) Carrying value Percent of total Carrying value Percent of total Investment funds Equity $ 90 72.5 % $ 46 58.2 % Hybrid 24 19.4 % 32 40.5 % Other 10 8.1 % 1 1.3 % Total investment funds 124 100.0 % 79 100.0 % Investment funds – related parties Strategic origination platforms 45 2.8 % 34 2.2 % Strategic insurance platforms 1,287 80.2 % 1,259 80.2 % Apollo and other fund investments Equity 244 15.2 % 246 15.7 % Yield 6 0.4 % 5 0.3 % Other 22 1.4 % 25 1.6 % Total investment funds – related parties 1,604 100.0 % 1,569 100.0 % Investment funds – consolidated VIEs Strategic origination platforms 5,322 35.3 % 4,829 38.7 % Strategic insurance platforms 511 3.4 % 529 4.2 % Apollo and other fund investments Equity 3,430 22.7 % 2,640 21.2 % Hybrid 3,771 25.0 % 3,112 24.9 % Yield 1,357 9.0 % 1,044 8.4 % Other 699 4.6 % 326 2.6 % Total investment funds – consolidated VIEs 15,090 100.0 % 12,480 100.0 % Total investment funds including related parties and funds owned by consolidated VIEs $ 16,818 $ 14,128
Schedule of Variable Interest Entities	The following summarizes the carrying value and maximum loss exposure of these non-consolidated investments: September 30, 2023 December 31, 2022 (In millions) Carrying Value Maximum Loss Exposure Carrying Value Maximum Loss Exposure Investment funds $ 124 $ 593 $ 79 $ 340 Investment in related parties – investment funds 1,604 2,325 1,569 2,253 Assets of consolidated VIEs – investment funds 15,090 21,270 12,480 20,278 Investment in fixed maturity securities 42,685 46,101 37,454 40,992 Investment in related parties – fixed maturity securities 13,500 16,414 9,717 10,290 Investment in related parties – equity securities 304 304 279 279 Total non-consolidated investments $ 73,307 $ 87,007 $ 61,578 $ 74,432 The following summarizes the income statement activity of the consolidated VIEs: Three months ended September 30, Nine months ended September 30, (In millions) 2023 2022 2023 2022 Trading securities $ 28 $ 10 $ 79 $ 10 Equity securities — 13 — 13 Mortgage loans 29 22 83 65 Investment funds 20 4 55 (5) Other investments (2) (16) (7) (3) Net investment income $ 75 $ 33 $ 210 $ 80 Net recognized investment losses on trading securities $ (16) $ (38) $ (15) $ (38) Net recognized investment losses on mortgage loans (25) (103) (45) (262) Net recognized investment gains on investment funds 292 236 833 354 Other gains (losses) (1) (16) (29) 5 Investment related gains (losses) $ 250 $ 79 $ 744 $ 59
Schedule of Repurchase Agreements	The following table summarizes the remaining contractual maturities of our repurchase agreements, which are included in payables for collateral on derivatives and securities to repurchase on the condensed consolidated balance sheets: (In millions) September 30, 2023 December 31, 2022 Less than 30 days $ 533 $ 608 30-90 days 427 1,268 91 days to 1 year 686 — Greater than 1 year 2,866 2,867 Payables for repurchase agreements $ 4,512 $ 4,743 The following table summarizes the securities pledged as collateral for repurchase agreements: September 30, 2023 December 31, 2022 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value AFS securities US government and agencies $ 1,353 $ 962 $ 2,559 $ 1,941 Foreign governments 152 101 146 107 Corporate 2,899 2,285 1,940 1,605 CLO 264 259 273 261 ABS 1,226 1,074 1,243 1,082 Total securities pledged under repurchase agreements $ 5,894 $ 4,681 $ 6,161 $ 4,996
Schedules of Concentration of Risk, by Risk Factor	The following table represents our investment concentrations in excess of 10% of shareholders’ equity: (In millions) September 30, 2023 AT&T Inc. $ 1,461 Wheels Donlen 1 1,454 PK AirFinance 1 1,410 MFI Investments 1,361 Athora 1 1,282 Atlas 1 1,007 Atlas 1 – reverse repurchase agreement 922 AP Tundra 865 (In millions) December 31, 2022 Wheels Donlen 1 $ 1,288 Athora 1 1,232 PK AirFinance 1 999 AP Tundra 896 MFI Investments 878 SoftBank Vision Fund II 789 MidCap 1 788 Cayman Universe 756 1 Related party amounts are representative of single issuer risk and may only include a portion of the total investments associated with a related party. See further discussion of these related parties in Note 13 – Related Parties.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional Amount and Fair Value of Derivative Instruments	The following table presents the notional amount and fair value of derivative instruments: September 30, 2023 December 31, 2022 Notional Amount Fair Value Notional Amount Fair Value (In millions) Assets Liabilities Assets Liabilities Derivatives designated as hedges Foreign currency hedges Swaps 8,240 $ 647 $ 167 6,677 $ 747 $ 154 Forwards 6,381 437 40 6,283 406 52 Interest rate swaps 4,468 — 809 4,468 — 803 Forwards on net investments 219 3 — 216 2 — Interest rate swaps 10,031 14 203 9,332 9 150 Total derivatives designated as hedges 1,101 1,219 1,164 1,159 Derivatives not designated as hedges Equity options 71,579 2,530 101 65,089 1,374 114 Futures 30 69 8 18 33 — Foreign currency swaps 4,549 278 108 3,563 251 112 Interest rate swaps 482 79 — 488 74 — Other swaps 180 — 3 89 — 4 Foreign currency forwards 22,322 514 453 16,376 413 257 Embedded derivatives Funds withheld including related parties (5,953) (89) (6,272) (77) Interest sensitive contract liabilities — 7,345 — 5,841 Total derivatives not designated as hedges (2,483) 7,929 (4,127) 6,251 Total derivatives $ (1,382) $ 9,148 $ (2,963) $ 7,410
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]	The following represents the carrying amount and the cumulative fair value hedging adjustments included in the hedged assets or liabilities: September 30, 2023 December 31, 2022 (In millions) Carrying amount of the hedged assets or liabilities 1 Cumulative amount of fair value hedging gains (losses) Carrying amount of the hedged assets or liabilities 1 Cumulative amount of fair value hedging gains (losses) AFS securities Foreign currency forwards $ 5,372 $ (245) $ 5,259 $ (217) Foreign currency swaps 5,448 (452) 4,797 (398) Interest sensitive contract liabilities Foreign currency swaps 1,369 90 1,081 88 Foreign currency interest rate swaps 3,724 647 4,348 632 Interest rate swaps 6,711 386 6,577 323 1 The carrying amount disclosed for AFS securities is amortized cost. The following is a summary of the gains (losses) related to the derivatives and related hedged items in fair value hedge relationships: Amount Excluded (In millions) Derivatives Hedged Items Net Recognized in income through amortization approach Recognized in income through changes in fair value Three months ended September 30, 2023 Investment related gains (losses) Foreign currency forwards $ 179 $ (187) $ (8) $ 21 $ 5 Foreign currency swaps 161 (166) (5) — — Foreign currency interest rate swaps (90) 95 5 — — Interest rate swaps (74) 63 (11) — — Interest sensitive contract benefits Foreign currency interest rate swaps 16 (14) 2 — — Three months ended September 30, 2022 Investment related gains (losses) Foreign currency forwards $ 288 $ (290) $ (2) $ 18 $ — Foreign currency swaps 256 (283) (27) — — Foreign currency interest rate swaps (379) 384 5 — — Interest rate swaps (268) 264 (4) — — Interest sensitive contract benefits Foreign currency interest rate swaps 12 (14) (2) — — Amount Excluded (In millions) Derivatives Hedged Items Net Recognized in income through amortization approach Recognized in income through changes in fair value Nine months ended September 30, 2023 Investment related gains (losses) Foreign currency forwards $ 74 $ (77) $ (3) $ 66 $ 12 Foreign currency swaps 59 (57) 2 — — Foreign currency interest rate swaps (5) 15 10 — — Interest rate swaps (92) 79 (13) — — Interest sensitive contract benefits Foreign currency interest rate swaps 44 (44) — — — Nine months ended September 30, 2022 Investment related gains (losses) Foreign currency forwards $ 616 $ (648) $ (32) $ 48 $ 1 Foreign currency swaps 589 (630) (41) — — Foreign currency interest rate swaps (873) 879 6 — — Interest rate swaps (345) 357 12 — — Interest sensitive contract benefits Foreign currency interest rate swaps 37 (37) — — — The following is a summary of the gains (losses) excluded from the assessment of hedge effectiveness that were recognized in OCI : Three months ended September 30, Nine months ended September 30, (In millions) 2023 2022 2023 2022 Foreign currency forwards $ (65) $ (20) $ (63) $ (77) Foreign currency swaps (239) 51 (182) 60
Gains (Losses) Related to Derivatives Not Designated as Hedges	The following is a summary of the gains (losses) related to derivatives not designated as hedges: Three months ended September 30, Nine months ended September 30, (In millions) 2023 2022 2023 2022 Equity options $ (951) $ (449) $ 390 $ (2,728) Futures (73) (34) 22 (153) Swaps (24) 132 38 121 Foreign currency forwards 146 454 (191) 971 Embedded derivatives on funds withheld (780) (1,839) (439) (7,041) Amounts recognized in investment related gains (losses) (1,682) (1,736) (180) (8,830) Embedded derivatives in indexed annuity products 1 1,251 526 (277) 3,079 Total gains (losses) on derivatives not designated as hedges $ (431) $ (1,210) $ (457) $ (5,751) 1 Included in interest sensitive contract benefits on the condensed consolidated statements of income (loss).
Estimated Fair Value of Net Derivative and Other Financial Assets	The estimated fair value of our net derivative and other financial assets and liabilities after the application of master netting agreements and collateral were as follows: Gross amounts not offset on the condensed consolidated balance sheets (In millions) Gross amount recognized 1 Financial instruments 2 Collateral (received)/pledged Net amount Off-balance sheet securities collateral 3 Net amount after securities collateral September 30, 2023 Derivative assets $ 4,571 $ (1,665) $ (3,140) $ (234) $ — $ (234) Derivative liabilities (1,892) 1,665 655 428 — 428 December 31, 2022 Derivative assets $ 3,309 $ (1,477) $ (1,952) $ (120) $ — $ (120) Derivative liabilities (1,646) 1,477 478 309 — 309 1 The gross amounts of recognized derivative assets and derivative liabilities are reported on the condensed consolidated balance sheets. As of September 30, 2023 and December 31, 2022, amounts not subject to master netting or similar agreements were immaterial. 2 Represents amounts offsetting derivative assets and derivative liabilities that are subject to an enforceable master netting agreement or similar agreement that are not netted against the gross derivative assets or gross derivative liabilities for presentation on the condensed consolidated balance sheets. 3 For non-cash collateral received, we do not recognize the collateral on our balance sheet unless the obligor (transferor) has defaulted under the terms of the secured contract and is no longer entitled to redeem the pledged asset. Amounts do not include any excess of collateral pledged or received.
Estimated Fair Value of Net Derivative and Other Financial Liabilities	The estimated fair value of our net derivative and other financial assets and liabilities after the application of master netting agreements and collateral were as follows: Gross amounts not offset on the condensed consolidated balance sheets (In millions) Gross amount recognized 1 Financial instruments 2 Collateral (received)/pledged Net amount Off-balance sheet securities collateral 3 Net amount after securities collateral September 30, 2023 Derivative assets $ 4,571 $ (1,665) $ (3,140) $ (234) $ — $ (234) Derivative liabilities (1,892) 1,665 655 428 — 428 December 31, 2022 Derivative assets $ 3,309 $ (1,477) $ (1,952) $ (120) $ — $ (120) Derivative liabilities (1,646) 1,477 478 309 — 309 1 The gross amounts of recognized derivative assets and derivative liabilities are reported on the condensed consolidated balance sheets. As of September 30, 2023 and December 31, 2022, amounts not subject to master netting or similar agreements were immaterial. 2 Represents amounts offsetting derivative assets and derivative liabilities that are subject to an enforceable master netting agreement or similar agreement that are not netted against the gross derivative assets or gross derivative liabilities for presentation on the condensed consolidated balance sheets. 3 For non-cash collateral received, we do not recognize the collateral on our balance sheet unless the obligor (transferor) has defaulted under the terms of the secured contract and is no longer entitled to redeem the pledged asset. Amounts do not include any excess of collateral pledged or received.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The following summarizes the carrying value and maximum loss exposure of these non-consolidated investments: September 30, 2023 December 31, 2022 (In millions) Carrying Value Maximum Loss Exposure Carrying Value Maximum Loss Exposure Investment funds $ 124 $ 593 $ 79 $ 340 Investment in related parties – investment funds 1,604 2,325 1,569 2,253 Assets of consolidated VIEs – investment funds 15,090 21,270 12,480 20,278 Investment in fixed maturity securities 42,685 46,101 37,454 40,992 Investment in related parties – fixed maturity securities 13,500 16,414 9,717 10,290 Investment in related parties – equity securities 304 304 279 279 Total non-consolidated investments $ 73,307 $ 87,007 $ 61,578 $ 74,432 The following summarizes the income statement activity of the consolidated VIEs: Three months ended September 30, Nine months ended September 30, (In millions) 2023 2022 2023 2022 Trading securities $ 28 $ 10 $ 79 $ 10 Equity securities — 13 — 13 Mortgage loans 29 22 83 65 Investment funds 20 4 55 (5) Other investments (2) (16) (7) (3) Net investment income $ 75 $ 33 $ 210 $ 80 Net recognized investment losses on trading securities $ (16) $ (38) $ (15) $ (38) Net recognized investment losses on mortgage loans (25) (103) (45) (262) Net recognized investment gains on investment funds 292 236 833 354 Other gains (losses) (1) (16) (29) 5 Investment related gains (losses) $ 250 $ 79 $ 744 $ 59

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	The following represents the hierarchy for our assets and liabilities measured at fair value on a recurring basis: September 30, 2023 (In millions) Total NAV Level 1 Level 2 Level 3 Assets AFS securities US government and agencies $ 4,260 $ — $ 4,253 $ 7 $ — US state, municipal and political subdivisions 962 — — 962 — Foreign governments 915 — — 869 46 Corporate 67,301 — 9 64,911 2,381 CLO 18,926 — — 18,926 — ABS 10,807 — — 6,181 4,626 CMBS 5,496 — — 5,484 12 RMBS 7,048 — — 6,785 263 Total AFS securities 115,715 — 4,262 104,125 7,328 Trading securities 1,592 — 22 1,538 32 Equity securities 916 — 198 644 74 Mortgage loans 37,978 — — — 37,978 Funds withheld at interest – embedded derivative (4,981) — — — (4,981) Derivative assets 4,571 — 93 4,478 — Short-term investments 527 — — 398 129 Other investments 763 — — 286 477 Cash and cash equivalents 9,996 — 9,996 — — Restricted cash 1,218 — 1,218 — — Investments in related parties AFS securities Corporate 1,356 — — 170 1,186 CLO 4,235 — — 3,732 503 ABS 8,394 — — 555 7,839 Total AFS securities – related parties 13,985 — — 4,457 9,528 Trading securities 871 — — — 871 Equity securities 304 — 59 — 245 Mortgage loans 1,234 — — — 1,234 Investment funds 1,043 — — — 1,043 Funds withheld at interest – embedded derivative (972) — — — (972) Other investments 327 — — — 327 Reinsurance recoverable 1,301 — — — 1,301 Other assets 431 — — — 431 Assets of consolidated VIEs Trading securities 2,133 — — 275 1,858 Mortgage loans 2,042 — — — 2,042 Investment funds 15,090 13,688 — — 1,402 Other investments 94 — — 2 92 Cash and cash equivalents 152 — 152 — — Total assets measured at fair value $ 206,330 $ 13,688 $ 16,000 $ 116,203 $ 60,439 Liabilities Interest sensitive contract liabilities Embedded derivative $ 7,345 $ — $ — $ — $ 7,345 Universal life benefits 739 — — — 739 Future policy benefits AmerUs Life Insurance Company (AmerUs) Closed Block 1,100 — — — 1,100 Indianapolis Life Insurance Company (ILICO) Closed Block and life benefits 551 — — — 551 Market risk benefits 3,021 — — — 3,021 Derivative liabilities 1,892 — 43 1,848 1 Other liabilities 124 — — (89) 213 Total liabilities measured at fair value $ 14,772 $ — $ 43 $ 1,759 $ 12,970 December 31, 2022 (In millions) Total NAV Level 1 Level 2 Level 3 Assets AFS securities US government and agencies $ 2,577 $ — $ 2,570 $ 7 $ — US state, municipal and political subdivisions 927 — — 927 — Foreign governments 907 — — 906 1 Corporate 60,901 — — 59,236 1,665 CLO 16,493 — — 16,493 — ABS 10,527 — — 5,660 4,867 CMBS 4,158 — — 4,158 — RMBS 5,914 — — 5,682 232 Total AFS securities 102,404 — 2,570 93,069 6,765 Trading securities 1,595 — 23 1,519 53 Equity securities 1,087 — 150 845 92 Mortgage loans 27,454 — — — 27,454 Funds withheld at interest – embedded derivative (4,847) — — — (4,847) Derivative assets 3,309 — 42 3,267 — Short-term investments 520 — 29 455 36 Other investments 611 — — 170 441 Cash and cash equivalents 7,779 — 7,779 — — Restricted cash 628 — 628 — — Investments in related parties AFS securities Corporate 982 — — 170 812 CLO 3,079 — — 2,776 303 ABS 5,760 — — 218 5,542 Total AFS securities – related parties 9,821 — — 3,164 6,657 Trading securities 878 — — — 878 Equity securities 279 — — — 279 Mortgage loans 1,302 — — — 1,302 Investment funds 959 — — — 959 Funds withheld at interest – embedded derivative (1,425) — — — (1,425) Other investments 303 — — — 303 Reinsurance recoverable 1,388 — — — 1,388 Other assets 481 — — — 481 Assets of consolidated VIEs Trading securities 1,063 — 5 436 622 Mortgage loans 2,055 — — — 2,055 Investment funds 12,480 10,009 — — 2,471 Other investments 101 — — 2 99 Cash and cash equivalents 362 — 362 — — Total assets measured at fair value $ 170,587 $ 10,009 $ 11,588 $ 102,927 $ 46,063 Liabilities Interest sensitive contract liabilities Embedded derivative $ 5,841 $ — $ — $ — $ 5,841 Universal life benefits 829 — — — 829 Future policy benefits AmerUs Closed Block 1,164 — — — 1,164 ILICO Closed Block and life benefits 548 — — — 548 Market risk benefits 2,970 — — — 2,970 Derivative liabilities 1,646 — 38 1,607 1 Other liabilities 65 — — (77) 142 Total liabilities measured at fair value $ 13,063 $ — $ 38 $ 1,530 $ 11,495
Summary of Fair Value Option	The following represents the gains (losses) recorded for instruments for which we have elected the fair value option, including related parties and consolidated VIEs: Three months ended September 30, Nine months ended September 30, (In millions) 2023 2022 2023 2022 Trading securities $ (137) $ (121) $ (105) $ (489) Mortgage loans (984) (1,279) (909) (3,344) Investment funds (66) (47) 25 9 Future policy benefits 59 90 64 363 Other liabilities (4) — (71) — Total gains (losses) $ (1,132) $ (1,357) $ (996) $ (3,461) The following summarizes information for fair value option mortgage loans, including related parties and consolidated VIEs: (In millions) September 30, 2023 December 31, 2022 Unpaid principal balance $ 45,170 $ 33,653 Mark to fair value (3,916) (2,842) Fair value $ 41,254 $ 30,811 The following represents our commercial mortgage loan portfolio 90 days or more past due and/or in non-accrual status: (In millions) September 30, 2023 December 31, 2022 Unpaid principal balance of commercial mortgage loans 90 days or more past due and/or in non-accrual status $ 161 $ 74 Mark to fair value of commercial mortgage loans 90 days or more past due and/or in non-accrual status (62) (55) Fair value of commercial mortgage loans 90 days or more past due and/or in non-accrual status $ 99 $ 19 Fair value of commercial mortgage loans 90 days or more past due $ 40 $ 2 Fair value of commercial mortgage loans in non-accrual status 59 19 The following represents our residential loan portfolio 90 days or more past due and/or in non-accrual status: (In millions) September 30, 2023 December 31, 2022 Unpaid principal balance of residential mortgage loans 90 days or more past due and/or in non-accrual status $ 495 $ 522 Mark to fair value of residential mortgage loans 90 days or more past due and/or in non-accrual status (57) (50) Fair value of residential mortgage loans 90 days or more past due and/or in non-accrual status $ 438 $ 472 Fair value of residential mortgage loans 90 days or more past due 1 $ 438 $ 472 Fair value of residential mortgage loans in non-accrual status 312 360 1 As of September 30, 2023 and December 31, 2022 includes $126 million and $221 million, respectively, of residential mortgage loans that are guaranteed by US government-sponsored agencies. The following is the estimated amount of gains (losses) included in earnings during the period attributable to changes in instrument-specific credit risk on our mortgage loan portfolio: Three months ended September 30, Nine months ended September 30, (In millions) 2023 2022 2023 2022 Mortgage loans $ (20) $ 18 $ (31) $ (34)
Reconciliation of Level 3 Assets Measured on a Recurring Basis	The following are reconciliations for Level 3 assets and liabilities measured at fair value on a recurring basis. Transfers in and out of Level 3 are primarily based on changes in the availability of pricing sources, as described in the valuation methods above. Three months ended September 30, 2023 Total realized and unrealized gains (losses) (In millions) Beginning balance Included in income Included in OCI Net purchases, issuances, sales and settlements Net transfers in (out) Ending balance Total gains (losses) included in earnings 1 Total gains (losses) included in OCI 1 Assets AFS securities Foreign governments $ 48 $ — $ (2) $ — — $ 46 $ — $ (2) Corporate 2,460 (8) (25) (26) (20) 2,381 — (27) ABS 5,305 — 14 (255) (438) 4,626 — 4 CMBS 12 — — — — 12 — — RMBS 6 — — 261 (4) 263 — — Trading securities 38 (1) — (5) — 32 (1) — Equity securities 67 7 — — — 74 7 — Mortgage loans 34,668 (850) — 4,160 — 37,978 (850) — Funds withheld at interest – embedded derivative (4,356) (625) — — — (4,981) — — Short-term investments 30 — (1) 100 — 129 — (1) Other investments 337 (5) — 145 — 477 (5) — Investments in related parties AFS securities Corporate 1,171 1 (10) 24 — 1,186 — (10) CLO 495 — 8 — — 503 — 8 ABS 7,742 (2) (11) 110 — 7,839 (6) (14) Trading securities 867 4 — — — 871 3 — Equity securities 252 (7) — — — 245 (7) — Mortgage loans 1,296 (61) — (1) — 1,234 (61) — Investment funds 1,061 (18) — — — 1,043 (18) — Funds withheld at interest – embedded derivative (1,297) 325 — — — (972) — — Other investments 343 (16) — — — 327 (16) — Reinsurance recoverable 1,436 (135) — — — 1,301 — — Assets of consolidated VIEs Trading securities 1,425 (48) — (45) 526 1,858 (48) — Mortgage loans 2,113 (73) — 2 — 2,042 (73) — Investment funds 1,351 (30) — 81 — 1,402 (30) — Other investments 99 5 — (12) — 92 5 — Total Level 3 assets $ 56,969 $ (1,537) $ (27) $ 4,539 $ 64 $ 60,008 $ (1,100) $ (42) Liabilities Interest sensitive contract liabilities Embedded derivative $ (8,198) $ 1,251 $ — $ (398) $ — $ (7,345) $ — $ — Universal life benefits (854) 115 — — — (739) — — Future policy benefits AmerUs Closed Block (1,159) 59 — — — (1,100) — — ILICO Closed Block and life benefits (571) 20 — — — (551) — — Derivative liabilities (1) — — — — (1) — — Other liabilities (209) (4) — — — (213) — — Total Level 3 liabilities $ (10,992) $ 1,441 $ — $ (398) $ — $ (9,949) $ — $ — 1 Related to instruments held at end of period. Three months ended September 30, 2022 Total realized and unrealized gains (losses) (In millions) Beginning balance Included in income Included in OCI Net purchases, issuances, sales and settlements Net transfers in (out) Ending balance Total gains (losses) included in earnings 1 Total gains (losses) included in OCI 1 Assets AFS securities Foreign governments $ 2 $ — $ — $ — $ — $ 2 $ — $ — Corporate 1,588 (16) (58) 205 (57) 1,662 — (55) CLO — — — 3 — 3 — — ABS 3,594 2 (50) 198 104 3,848 — (60) RMBS 68 — (1) (1) (66) — — — Trading securities 58 (4) — (2) 2 54 (4) — Equity securities 62 10 — — — 72 11 — Mortgage loans 25,218 (1,117) — 1,044 — 25,145 (1,111) — Investment funds 19 — — — (19) — — — Funds withheld at interest – embedded derivative (3,958) (1,301) — — — (5,259) — — Short-term investments 58 — — (23) — 35 — — Other investments — — — — 496 496 — — Investments in related parties AFS securities Corporate 849 1 (17) 114 (94) 853 — (15) CLO 325 — (14) — — 311 — (14) ABS 5,026 (3) (73) 284 94 5,328 — (73) Trading securities 891 4 — 5 5 905 4 — Equity securities 163 (18) — 195 — 340 (18) — Mortgage loans 1,416 (82) — (3) — 1,331 (82) — Investment funds 818 (29) — — — 789 (29) — Funds withheld at interest – embedded derivative (1,129) (442) — — — (1,571) — — Other investments — — — — 274 274 — — Reinsurance recoverable 1,580 (104) — — — 1,476 — — Assets of consolidated VIEs Trading securities 330 (7) — 529 (232) 620 (7) — Equity securities — — — — 15 15 — — Mortgage loans 1,626 (80) — 96 21 1,663 (79) — Investment funds 1,053 (19) — 1,694 (422) 2,306 (19) — Other investments 31 — — — 105 136 — — Total Level 3 assets $ 39,688 $ (3,205) $ (213) $ 4,338 $ 226 $ 40,834 $ (1,334) $ (217) Liabilities Interest sensitive contract liabilities Embedded derivative $ (5,176) $ 526 $ — $ (348) $ — $ (4,998) $ — $ — Universal life benefits (943) 91 — — — (852) — — Future policy benefits AmerUs Closed Block (1,247) 90 — — — (1,157) — — ILICO Closed Block and life benefits (623) 11 — — — (612) — — Derivative liabilities (1) — — — — (1) — — Total Level 3 liabilities $ (7,990) $ 718 $ — $ (348) $ — $ (7,620) $ — $ — 1 Related to instruments held at end of period. Nine months ended September 30, 2023 Total realized and unrealized gains (losses) (In millions) Beginning balance Included in income Included in OCI Net purchases, issuances, sales and settlements Net transfers in (out) Ending balance Total gains (losses) included in earnings 1 Total gains (losses) included in OCI 1 Assets AFS securities Foreign governments $ 1 $ — $ (2) $ 47 $ — $ 46 $ — $ (2) Corporate 1,665 (9) (1) 1,170 (444) 2,381 — (7) ABS 4,867 — (36) 794 (999) 4,626 — (49) CMBS — — — — 12 12 — (1) RMBS 232 6 2 258 (235) 263 — — Trading securities 53 2 — (12) (11) 32 — — Equity securities 92 (5) — — (13) 74 (5) — Mortgage loans 27,454 (794) — 11,318 — 37,978 (792) — Funds withheld at interest – embedded derivative (4,847) (134) — — — (4,981) — — Short-term investments 36 — (3) 70 26 129 — (1) Other investments 441 (5) — 41 — 477 (7) — Investments in related parties AFS securities Corporate 812 2 (18) 175 215 1,186 — (18) CLO 303 — 15 185 — 503 — 15 ABS 5,542 7 38 1,968 284 7,839 (2) 32 Trading securities 878 6 — (13) — 871 3 — Equity securities 279 (2) — (32) — 245 (3) — Mortgage loans 1,302 (44) — (24) — 1,234 (44) — Investment funds 959 52 — 32 — 1,043 53 — Funds withheld at interest – embedded derivative (1,425) 453 — — — (972) — — Other investments 303 (18) — 42 — 327 (19) — Reinsurance recoverable 1,388 (87) — — — 1,301 — — Assets of consolidated VIEs Trading securities 622 (40) — (55) 1,331 1,858 (40) — Mortgage loans 2,055 (71) — 58 — 2,042 (71) — Investment funds 2,471 (7) — 73 (1,135) 1,402 (7) — Other investments 99 7 — (14) — 92 7 — Total Level 3 assets $ 45,582 $ (681) $ (5) $ 16,081 $ (969) $ 60,008 $ (927) $ (31) Liabilities Interest sensitive contract liabilities Embedded derivative $ (5,841) $ (277) $ — $ (1,227) $ — $ (7,345) $ — $ — Universal life benefits (829) 90 — — — (739) — — Future policy benefits AmerUs Closed Block (1,164) 64 — — — (1,100) — — ILICO Closed Block and life benefits (548) (3) — — — (551) — — Derivative liabilities (1) — — — — (1) — — Other liabilities (142) (71) — — — (213) — — Total Level 3 liabilities $ (8,525) $ (197) $ — $ (1,227) $ — $ (9,949) $ — $ — 1 Related to instruments held at end of period. Nine months ended September 30, 2022 Total realized and unrealized gains (losses) (In millions) January 1, 2022 Included in income Included in OCI Net purchases, issuances, sales and settlements Net transfers in (out) Ending balance Total gains (losses) included in earnings 1 Total gains (losses) included in OCI 1 Assets AFS securities Foreign governments $ 2 $ — $ — $ — $ — $ 2 $ — $ — Corporate 1,339 (19) (135) 385 92 1,662 — (120) CLO 14 (2) — (9) — 3 — — ABS 3,619 9 (145) 198 167 3,848 — (116) CMBS 43 — (17) — (26) — — — RMBS — — (1) 67 (66) — — — Trading securities 69 (10) — 6 (11) 54 (4) — Equity securities 429 27 — (3) (381) 72 25 — Mortgage loans 21,154 (2,888) — 6,879 — 25,145 (2,878) — Investment funds 18 1 — — (19) — — — Funds withheld at interest – embedded derivative — (5,259) — — — (5,259) — — Short-term investments 29 — (1) 7 — 35 — (1) Other investments — — — — 496 496 — — Investments in related parties AFS securities Corporate 670 (3) (23) 250 (41) 853 — (22) CLO 202 — (21) 130 — 311 — (21) ABS 6,445 (4) (208) (957) 52 5,328 — (193) Trading securities 1,771 3 — (1,057) 188 905 (4) — Equity securities 284 (32) — 76 12 340 (27) — Mortgage loans 1,369 (206) — 168 — 1,331 (206) — Investment funds 2,855 (1) — (34) (2,031) 789 (1) — Funds withheld at interest – embedded derivative — (1,571) — — — (1,571) — — Short-term investments — — — 53 (53) — — — Other investments — — — — 274 274 — — Reinsurance recoverable 1,991 (515) — — — 1,476 — — Assets of consolidated VIEs Trading securities — (7) — 529 98 620 (7) — Equity securities — — — — 15 15 — — Mortgage loans 2,152 (250) — (58) (181) 1,663 (250) — Investment funds 1,297 9 — 1,855 (855) 2,306 9 — Other investments — — — 31 105 136 — — Total Level 3 assets $ 45,752 $ (10,718) $ (551) $ 8,516 $ (2,165) $ 40,834 $ (3,343) $ (473) Liabilities Interest sensitive contract liabilities Embedded derivative $ (7,408) $ 3,079 $ — $ (669) $ — $ (4,998) $ — $ — Universal life benefits (1,235) 383 — — — (852) — — Future policy benefits AmerUs Closed Block (1,520) 363 — — — (1,157) — — ILICO Closed Block and life benefits (742) 130 — — — (612) — — Derivative liabilities (3) 2 — — — (1) — — Total Level 3 liabilities $ (10,908) $ 3,957 $ — $ (669) $ — $ (7,620) $ — $ — 1 Related to instruments held at end of period.
Gross Components of Purchases, Sales, Issuances and Settlements, net	The following represents the gross components of purchases, issuances, sales and settlements, net, and net transfers in (out) shown above: Three months ended September 30, 2023 (In millions) Purchases Issuances Sales Settlements Net purchases, issuances, sales and settlements Transfers in Transfers out Net transfers in (out) Assets AFS securities Corporate $ 26 $ — $ — $ (52) $ (26) $ — $ (20) $ (20) ABS 221 — (13) (463) (255) 357 (795) (438) RMBS 261 — — — 261 — (4) (4) Trading securities — — — (5) (5) — — — Mortgage loans 5,696 — (285) (1,251) 4,160 — — — Short-term investments 100 — — — 100 — — — Other investments 145 — — — 145 — — — Investments in related parties AFS securities Corporate 27 — — (3) 24 — — — ABS 426 — — (316) 110 — — — Trading securities 1 — (1) — — — — — Mortgage loans — — — (1) (1) — — — Assets of consolidated VIEs Trading securities 6 — (51) — (45) 526 — 526 Mortgage loans 4 — — (2) 2 — — — Investment funds 113 — (32) — 81 — — — Other investments 2 — (14) — (12) — — — Total Level 3 assets $ 7,028 $ — $ (396) $ (2,093) $ 4,539 $ 883 $ (819) $ 64 Liabilities Interest sensitive contract liabilities – embedded derivative $ — $ (573) $ — $ 175 $ (398) $ — $ — $ — Total Level 3 liabilities $ — $ (573) $ — $ 175 $ (398) $ — $ — $ — Three months ended September 30, 2022 (In millions) Purchases Issuances Sales Settlements Net purchases, issuances, sales and settlements Transfers in Transfers out Net transfers in (out) Assets AFS securities Corporate $ 228 $ — $ (3) $ (20) $ 205 $ 83 $ (140) $ (57) CLO 3 — — — 3 — — — ABS 344 — — (146) 198 116 (12) 104 RMBS — — — (1) (1) — (66) (66) Trading securities — — — (2) (2) 3 (1) 2 Mortgage loans 1,900 — (51) (805) 1,044 — — — Investment funds — — — — — — (19) (19) Short-term investments — — — (23) (23) — — — Other investments — — — — — 496 — 496 Investments in related parties AFS securities Corporate 116 — — (2) 114 — (94) (94) ABS 887 — — (603) 284 94 — 94 Trading securities 5 — — — 5 5 — 5 Equity securities 195 — — — 195 — — — Mortgage loans — — — (3) (3) — — — Other investments — — — — — 274 — 274 Assets of consolidated VIEs Trading securities 529 — — — 529 100 (332) (232) Equity securities — — — — — 15 — 15 Mortgage loans 102 — — (6) 96 21 — 21 Investment funds 1,695 — (1) — 1,694 — (422) (422) Other investments — — — — — 105 — 105 Total Level 3 assets $ 6,004 $ — $ (55) $ (1,611) $ 4,338 $ 1,312 $ (1,086) $ 226 Liabilities Interest sensitive contract liabilities – embedded derivative $ — $ (456) $ — $ 108 $ (348) $ — $ — $ — Total Level 3 liabilities $ — $ (456) $ — $ 108 $ (348) $ — $ — $ — Nine months ended September 30, 2023 (In millions) Purchases Issuances Sales Settlements Net purchases, issuances, sales and settlements Transfers in Transfers out Net transfers in (out) Assets AFS securities Foreign governments $ 53 $ — $ — $ (6) $ 47 $ — $ — $ — Corporate 1,338 — — (168) 1,170 29 (473) (444) ABS 1,552 — (33) (725) 794 695 (1,694) (999) CMBS — — — — — 12 — 12 RMBS 262 — — (4) 258 5 (240) (235) Trading securities 8 — — (20) (12) 5 (16) (11) Equity securities — — — — — — (13) (13) Mortgage loans 14,361 — (348) (2,695) 11,318 — — — Short-term investments 100 — — (30) 70 26 — 26 Other investments 472 — — (431) 41 — — — Investments in related parties AFS securities Corporate 184 — — (9) 175 215 — 215 CLO 185 — — — 185 — — — ABS 3,132 — (162) (1,002) 1,968 284 — 284 Trading securities 28 — (38) (3) (13) — — — Equity securities — — — (32) (32) — — — Mortgage loans — — — (24) (24) — — — Investment funds 32 — — — 32 — — — Other investments 42 — — — 42 — — — Assets of consolidated VIEs Trading securities 26 — (81) — (55) 1,362 (31) 1,331 Mortgage loans 63 — — (5) 58 — — — Investment funds 113 — (40) — 73 475 (1,610) (1,135) Other investments 7 — (21) — (14) — — — Total Level 3 assets $ 21,958 $ — $ (723) $ (5,154) $ 16,081 $ 3,108 $ (4,077) $ (969) Liabilities Interest sensitive contract liabilities – embedded derivative $ — $ (1,708) $ — $ 481 $ (1,227) $ — $ — $ — Total Level 3 liabilities $ — $ (1,708) $ — $ 481 $ (1,227) $ — $ — $ — Nine months ended September 30, 2022 (In millions) Purchases Issuances Sales Settlements Net purchases, issuances, sales and settlements Transfers in 1 Transfers out 1 Net transfers in (out) Assets AFS securities Corporate $ 681 $ — $ (173) $ (123) $ 385 $ 276 $ (184) $ 92 CLO 3 — — (12) (9) — — — ABS 2,579 — (1,791) (590) 198 484 (317) 167 CMBS — — — — — — (26) (26) RMBS 68 — — (1) 67 — (66) (66) Trading securities 8 — — (2) 6 42 (53) (11) Equity securities — — (3) — (3) 19 (400) (381) Mortgage loans 9,377 — (181) (2,317) 6,879 — — — Investment funds — — — — — — (19) (19) Short-term investments 59 — — (52) 7 — — — Other investments — — — — — 496 — 496 Investments in related parties AFS securities Corporate 483 — (217) (16) 250 53 (94) (41) CLO 130 — — — 130 — — — ABS 2,160 — (93) (3,024) (957) 1,916 (1,864) 52 Trading securities 41 — (1,052) (46) (1,057) 1,448 (1,260) 188 Equity securities 195 — (119) — 76 125 (113) 12 Mortgage securities 182 — — (14) 168 — — — Investment funds — — (34) — (34) — (2,031) (2,031) Short-term investments 53 — — — 53 — (53) (53) Other investments — — — — — 274 — 274 Assets of consolidated VIEs Trading securities 529 — — — 529 430 (332) 98 Equity securities — — — — — 15 — 15 Mortgage loans 102 — — (160) (58) 42 (223) (181) Investment funds 1,981 — (126) — 1,855 11,087 (11,942) (855) Other investments 31 — — — 31 2,007 (1,902) 105 Total Level 3 assets $ 18,662 $ — $ (3,789) $ (6,357) $ 8,516 $ 18,714 $ (20,879) $ (2,165) Liabilities Interest sensitive contract liabilities – embedded derivative $ — $ (1,053) $ — $ 384 $ (669) $ — $ — $ — Total Level 3 liabilities $ — $ (1,053) $ — $ 384 $ (669) $ — $ — $ — 1 Transfers in and out are primarily assets of VIEs that changed consolidation status in 2022.
Summary of the Unobservable Inputs for the Embedded Derivative of Fixed Indexed Annuities	The following summarizes the unobservable inputs for AFS, trading and equity securities, mortgage loans, investment funds and the embedded derivatives of fixed indexed annuities, including those of consolidated VIEs: September 30, 2023 (In millions, except for percentages and multiples) Fair value Valuation technique Unobservable inputs Minimum Maximum Weighted average Impact of an increase in the input on fair value AFS, trading and equity securities $ 14,272 Discounted cash flow Discount rate 2.3 % 18.8 % 7.2 % 1 Decrease Mortgage loans 41,254 Discounted cash flow Discount rate 2.2 % 21.9 % 7.0 % 1 Decrease Investment funds 483 Discounted cash flow Discount rate 6.3 % 6.3 % 6.3 % Decrease 511 Net tangible asset values Implied multiple 1.18x 1.18x 1.18x Increase 408 Reported net asset value Reported net asset value N/A N/A N/A N/A Interest sensitive contract liabilities – fixed indexed annuities embedded derivatives 7,345 Discounted cash flow Nonperformance risk 0.6 % 1.6 % 1.2 % 2 Decrease Option budget 0.5 % 5.9 % 2.3 % 3 Increase Surrender rate 6.7 % 13.3 % 8.8 % 3 Decrease December 31, 2022 (In millions, except for percentages and multiples) Fair value Valuation technique Unobservable inputs Minimum Maximum Weighted average Impact of an increase in the input on fair value AFS, trading and equity securities $ 10,671 Discounted cash flow Discount rate 2.2 % 18.8 % 6.8 % 1 Decrease Mortgage loans 30,811 Discounted cash flow Discount rate 1.5 % 22.1 % 6.3 % 1 Decrease Investment funds 506 Discounted cash flow Discount rate 6.4 % 6.4 % 6.4 % Decrease 873 Discounted cash flow / Discount rate / 16.5% / 9x 16.5% / 9x 16.5% / 9x Decrease/Increase 529 Net tangible asset values Implied multiple 1.26x 1.26x 1.26x Increase 563 Reported net asset value Reported net asset value N/A N/A N/A N/A Interest sensitive contract liabilities – fixed indexed annuities embedded derivatives 5,841 Discounted cash flow Nonperformance risk 0.1 % 1.7 % 1.0 % 2 Decrease Option budget 0.5 % 5.3 % 1.9 % 3 Increase Surrender rate 5.1 % 11.5 % 8.1 % 3 Decrease 1 The discount rate weighted average is calculated based on the relative fair values of the securities or loans. 2 The nonperformance risk weighted average is based on the projected cash flows attributable to the embedded derivative. 3 The option budget and surrender rate weighted averages are calculated based on projected account values. The following summarizes the unobservable inputs for market risk benefits: September 30, 2023 (In millions, except for percentages) Fair value Valuation technique Unobservable inputs Minimum Maximum Weighted average Impact of an increase in the input on fair value Market risk benefits, net $ 2,590 Discounted cash flow Nonperformance risk 0.6 % 1.6 % 1.4 % 1 Decrease Option budget 0.5 % 5.9 % 1.9 % 2 Decrease Surrender rate 3.4 % 6.5 % 4.6 % 2 Decrease Utilization rate 28.6 % 95.0 % 83.2 % 3 Increase September 30, 2022 (In millions, except for percentages) Fair value Valuation technique Unobservable inputs Minimum Maximum Weighted average Impact of an increase in the input on fair value Market risk benefits, net $ 2,280 Discounted cash flow Nonperformance risk 0.6 % 1.9 % 1.6 % 1 Decrease Option budget 0.5 % 4.5 % 1.6 % 2 Decrease Surrender rate 3.3 % 6.8 % 4.5 % 2 Decrease Utilization rate 28.6 % 95.0 % 81.9 % 3 Increase 1 The nonperformance risk weighted average is based on the cash flows underlying the market risk benefit reserve. 2 The option budget and surrender rate weighted averages are calculated based on projected account values. 3 The utilization of GLWB withdrawals represents the estimated percentage of policyholders that are expected to use their income rider over the duration of the contract, with the weighted average based on current account values.
Summary of Financial Instruments Not Carried at Fair Value on the Balance Sheet	The following represents our financial instruments not carried at fair value on the condensed consolidated balance sheets: September 30, 2023 (In millions) Carrying Value Fair Value NAV Level 1 Level 2 Level 3 Financial assets Investment funds $ 124 $ 124 $ 124 $ — $ — $ — Policy loans 336 336 — — 336 — Funds withheld at interest 30,934 30,934 — — — 30,934 Other investments 40 45 — — — 45 Investments in related parties Investment funds 561 561 561 — — — Funds withheld at interest 7,592 7,592 — — — 7,592 Short-term investments 949 949 — — 949 — Total financial assets not carried at fair value $ 40,536 $ 40,541 $ 685 $ — $ 1,285 $ 38,571 Financial liabilities Interest sensitive contract liabilities $ 140,229 $ 126,779 $ — $ — $ — $ 126,779 Debt 3,634 2,839 — — 2,839 — Securities to repurchase 4,512 4,512 — — 4,512 — Funds withheld liability 349 349 — — 349 — Total financial liabilities not carried at fair value $ 148,724 $ 134,479 $ — $ — $ 7,700 $ 126,779 December 31, 2022 (In millions) Carrying Value Fair Value NAV Level 1 Level 2 Level 3 Financial assets Investment funds $ 79 $ 79 $ 79 $ — $ — $ — Policy loans 347 347 — — 347 — Funds withheld at interest 37,727 37,727 — — — 37,727 Short-term investments 1,640 1,640 — — 1,614 26 Other investments 162 162 — — — 162 Investments in related parties Investment funds 610 610 610 — — — Funds withheld at interest 11,233 11,233 — — — 11,233 Total financial assets not carried at fair value $ 51,798 $ 51,798 $ 689 $ — $ 1,961 $ 49,148 Financial liabilities Interest sensitive contract liabilities $ 125,101 $ 111,608 $ — $ — $ — $ 111,608 Debt 3,658 2,893 — — 2,893 — Securities to repurchase 4,743 4,743 — — 4,743 — Funds withheld liability 360 360 — — 360 — Total financial liabilities not carried at fair value $ 133,862 $ 119,604 $ — $ — $ 7,996 $ 111,608

Deferred Acquisition Costs, D_2

Deferred Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired (Tables)	9 Months Ended
	Sep. 30, 2023
Insurance [Abstract]
Deferred Acquisition Costs	The following table summarizes the change in deferred acquisition costs, deferred sales inducements and value of business acquired: (In millions) VOBA Balance as of January 1, 2022 $ 4,527 Change in discount rate assumptions for future policy benefits (22) Fair value adjustment of market risk benefits (1,133) Adjusted balance as of January 1, 2022 $ 3,372 The following represents a rollforward of DAC and DSI by product, and a rollforward of VOBA. See Note 9 – Long-duration Contracts for more information on our products. Nine months ended September 30, 2023 DAC DSI VOBA Total DAC, DSI and VOBA (In millions) Traditional deferred annuities Indexed annuities Funding agreements Other investment-type Indexed annuities Balance at December 31, 2022 $ 304 $ 755 $ 11 $ 9 $ 399 $ 2,988 $ 4,466 Additions 426 609 2 3 447 — 1,487 Amortization (74) (69) (3) (1) (40) (315) (502) Other — — — — — (3) (3) Balance at September 30, 2023 $ 656 $ 1,295 $ 10 $ 11 $ 806 $ 2,670 $ 5,448 Nine months ended September 30, 2022 DAC DSI VOBA Total DAC, DSI and VOBA (In millions) Traditional deferred annuities Indexed annuities Funding agreements Other investment-type Indexed annuities Balance at January 1, 2022 $ — $ — $ — $ — $ — $ 3,372 $ 3,372 Additions 175 555 13 7 266 — 1,016 Amortization (5) (17) (2) — (5) (289) (318) Balance at September 30, 2022 $ 170 $ 538 $ 11 $ 7 $ 261 $ 3,083 $ 4,070
Deferred Sales Inducements	The following represents a rollforward of DAC and DSI by product, and a rollforward of VOBA. See Note 9 – Long-duration Contracts for more information on our products. Nine months ended September 30, 2023 DAC DSI VOBA Total DAC, DSI and VOBA (In millions) Traditional deferred annuities Indexed annuities Funding agreements Other investment-type Indexed annuities Balance at December 31, 2022 $ 304 $ 755 $ 11 $ 9 $ 399 $ 2,988 $ 4,466 Additions 426 609 2 3 447 — 1,487 Amortization (74) (69) (3) (1) (40) (315) (502) Other — — — — — (3) (3) Balance at September 30, 2023 $ 656 $ 1,295 $ 10 $ 11 $ 806 $ 2,670 $ 5,448 Nine months ended September 30, 2022 DAC DSI VOBA Total DAC, DSI and VOBA (In millions) Traditional deferred annuities Indexed annuities Funding agreements Other investment-type Indexed annuities Balance at January 1, 2022 $ — $ — $ — $ — $ — $ 3,372 $ 3,372 Additions 175 555 13 7 266 — 1,016 Amortization (5) (17) (2) — (5) (289) (318) Balance at September 30, 2022 $ 170 $ 538 $ 11 $ 7 $ 261 $ 3,083 $ 4,070
Present Value of Future Insurance Profits	The expected amortization of VOBA for the next five years is as follows: (In millions) Expected amortization 2023 1 $ 87 2024 324 2025 292 2026 260 2027 228 2028 197 1 Expected amortization for the remainder of 2023.

Long-duration Contracts (Tables

Long-duration Contracts (Tables)	9 Months Ended
	Sep. 30, 2023
Insurance [Abstract]
Policyholder Account Balance	The following represents a rollforward of the policyholder account balance by product within interest sensitive contract liabilities. Where explicit policyholder account balances do not exist, the disaggregated rollforward represents the recorded reserve. Nine months ended September 30, 2023 (In millions, except percentages) Traditional deferred annuities Indexed annuities Funding agreements Other investment-type Total Balance at December 31, 2022 $ 43,518 $ 92,660 $ 27,439 $ 4,722 $ 168,339 Deposits 18,011 8,960 4,893 3,760 35,624 Policy charges (2) (481) — — (483) Surrenders and withdrawals (8,207) (8,292) (110) (25) (16,634) Benefit payments (738) (1,216) (2,264) (223) (4,441) Interest credited 1,284 802 628 110 2,824 Foreign exchange (77) (1) (26) (344) (448) Other 1 63 77 (46) (1,419) (1,325) Balance at September 30, 2023 $ 53,852 $ 92,509 $ 30,514 $ 6,581 $ 183,456 September 30, 2023 Weighted average crediting rate 3.7 % 2.3 % 3.1 % 2.7 % 2.9 % Net amount at risk $ 425 $ 14,438 $ — $ 104 $ 14,967 Cash surrender value 50,352 84,052 — 5,335 139,739 1 Other includes a $1,371 million reduction of reserves related to the Venerable Insurance and Annuity Company (VIAC) recapture agreement. See Note 13 – Related Parties for further information. Nine months ended September 30, 2022 (In millions, except percentages) Traditional deferred annuities Indexed annuities Funding agreements Other investment-type Total Balance at January 1, 2022 $ 35,599 $ 89,755 $ 23,623 $ 2,413 $ 151,390 Deposits 7,475 8,110 6,770 1,995 24,350 Policy charges (2) (441) — — (443) Surrenders and withdrawals (3,435) (5,679) (505) (9) (9,628) Benefit payments (703) (1,215) (2,659) (249) (4,826) Interest credited 718 1,487 474 64 2,743 Foreign exchange — — (899) (109) (1,008) Other — — (693) (17) (710) Balance at September 30, 2022 $ 39,652 $ 92,017 $ 26,111 $ 4,088 $ 161,868 September 30, 2022 Weighted average crediting rate 2.9 % 2.1 % 2.2 % 2.9 % 2.3 % Net amount at risk $ 421 $ 13,169 $ — $ 36 $ 13,626 Cash surrender value 37,777 83,705 — 1,686 123,168
Policyholder Account Balance and Liability for Unpaid Claims and Claims Adjustment Expense	The following is a reconciliation of interest sensitive contract liabilities to the condensed consolidated balance sheets: September 30, (In millions) 2023 2022 Traditional deferred annuities $ 53,852 $ 39,652 Indexed annuities 92,509 92,017 Funding agreements 30,514 26,111 Other investment-type 6,581 4,088 Reconciling items 1 5,609 5,010 Interest sensitive contract liabilities $ 189,065 $ 166,878 1 Reconciling items primarily include embedded derivatives in indexed annuities, unaccreted host contract adjustments on indexed annuities, negative VOBA, sales inducement liabilities and wholly ceded universal life insurance contracts. The following is a reconciliation of future policy benefits to the condensed consolidated balance sheets: September 30, (In millions) 2023 2022 Payout annuities with life contingencies $ 40,840 $ 35,515 Reconciling items 1 5,832 5,770 Future policy benefits $ 46,672 $ 41,285 1 Reconciling items primarily include the deferred profit liability and negative VOBA associated with our liability for future policy benefits. Additionally, it includes reserves for our immaterial lines of business including term and whole life, accident and health and disability, as well as other insurance benefit reserves for our no-lapse guarantees with universal life contracts, all of which are fully ceded.
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	The following represents policyholder account balances by range of guaranteed minimum crediting rates, as well as the related range of the difference between rates being credited to policyholders and the respective guaranteed minimums: September 30, 2023 (In millions) At guaranteed minimum 1 basis point – 100 basis points above guaranteed minimum Greater than 100 basis points above guaranteed minimum Total < 2.0% $ 28,564 $ 19,709 $ 90,121 $ 138,394 2.0% – < 4.0% 28,838 1,128 541 30,507 4.0% – < 6.0% 11,433 9 1 11,443 6.0% and greater 3,112 — — 3,112 Total $ 71,947 $ 20,846 $ 90,663 $ 183,456 September 30, 2022 (In millions) At guaranteed minimum 1 basis point – 100 basis points above guaranteed minimum Greater than 100 basis points above guaranteed minimum Total < 2.0% $ 25,599 $ 26,909 $ 65,484 $ 117,992 2.0% – < 4.0% 37,150 1,491 477 39,118 4.0% – < 6.0% 4,611 11 6 4,628 6.0% and greater 130 — — 130 Total $ 67,490 $ 28,411 $ 65,967 $ 161,868
Liability for Future Policy Benefit, Activity	The following table summarizes future policy benefits and changes to the liability: (In millions) Traditional deferred annuities Indexed annuities Payout annuities Reconciling items 1 Total Balance as of January 1, 2022 $ 221 $ 5,389 $ 32,872 $ 8,632 $ 47,114 Change in discount rate assumptions — — 2,406 — 2,406 Adjustment for removal of balances related to market risk benefits (221) (5,389) — — (5,610) Adjustment for offsetting balance in negative VOBA 2 — — — (2,428) (2,428) Adjusted balance as of January 1, 2022 $ — $ — $ 35,278 $ 6,204 $ 41,482 1 Reconciling items primarily include negative VOBA associated with our liability for future policy benefits, as well as reserves for our immaterial lines of business including term and whole life, accident and health and disability, as well as other insurance benefit reserves for our no-lapse guarantees with universal life contracts, all of which are fully ceded. 2 Uneliminated adjustments were recorded to positive VOBA within deferred acquisition costs, deferred sales inducements and value of business acquired on the condensed consolidated balance sheets. The following is a rollforward of the expected value of future policy benefits: Payout annuities with life contingencies Nine months ended September 30, (In millions) 2023 2022 Present value of expected future policy benefits Beginning balance $ 36,422 $ 35,278 Effect of changes in discount rate assumptions 8,425 — Beginning balance at original discount rate 44,847 35,278 Effect of changes in cash flow assumptions (297) — Effect of actual experience compared to expected experience (36) (115) Adjusted balance 44,514 35,163 Issuances 9,120 10,666 Interest accrual 1,194 802 Benefit payments (2,731) (2,193) Foreign exchange 5 (90) Other 1 (1,509) — Ending balance at original discount rate 50,593 44,348 Effect of changes in discount rate assumptions (9,753) (8,833) Ending balance $ 40,840 $ 35,515 1 Other represents $1,509 million reduction of reserves related to the VIAC recapture agreement. See Note 13 – Related Parties for further information. The following is a reconciliation of premiums to the condensed consolidated statements of income (loss): Nine months ended September 30, (In millions) 2023 2022 Payout annuities with life contingencies $ 9,142 $ 10,745 Reconciling items 1 21 24 Premiums $ 9,163 $ 10,769 1 Reconciling items premiums related to our immaterial lines of business including term and whole life, and accident and health and disability. The following represents the undiscounted and discounted expected future benefit payments for the liability for future policy benefits. As these relate to payout annuities for single premium immediate annuities with life contingencies, there are no expected future gross premiums. September 30, 2023 September 30, 2022 (In millions) Undiscounted Discounted Undiscounted Discounted Expected future benefit payments $ 73,933 $ 50,593 $ 63,743 $ 44,348 The following represents the weighted-average durations and the weighted-average interest rates of future policy benefits: September 30, 2023 2022 Weighted-average liability duration (in years) 9.6 10.2 Weighted-average interest accretion rate 3.6 % 3.1 % Weighted-average current discount rate 6.1 % 5.6 %
Additional Liability, Long-Duration Insurance	The following is a summary of remeasurement gains (losses) included within future policy and other policy benefits on the condensed consolidated statements of income (loss): Nine months ended September 30, (In millions) 2023 2022 Reserves $ 333 $ 115 Deferred profit liability (243) (110) Negative VOBA (54) — Total remeasurement gains (losses) $ 36 $ 5
Market Risk Benefit, Activity	The following table presents the net liability position of market risk benefits: (In millions) Traditional deferred annuities Indexed annuities Total Balance as of January 1, 2022 $ — $ — $ — Adjustment for addition of existing balances 1 221 5,389 5,610 Adjustment to positive VOBA due to fair value adjustment for market risk benefits 2 32 (1,165) (1,133) Adjustment to negative VOBA due to fair value adjustment for market risk benefits 3 — (30) (30) Adjusted balance as of January 1, 2022 $ 253 $ 4,194 $ 4,447 1 Previously recorded within future policy benefits on the condensed consolidated balance sheets. 2 Previously recorded within deferred acquisition costs, deferred sales inducements and value of business acquired on the condensed consolidated balance sheets. 3 Previously recorded within interest sensitive contract liabilities on the condensed consolidated balance sheets. The following table represents market risk benefits by asset and liability positions: (In millions) Asset 1 Liability Net liability Traditional deferred annuities $ — $ 253 $ 253 Indexed annuities 366 4,560 4,194 Adjusted balance as of January 1, 2022 $ 366 $ 4,813 $ 4,447 1 Included in other assets on the condensed consolidated balance sheets. The following is a rollfoward of net market risk benefit liabilities by product: Nine months ended September 30, 2023 (In millions) Traditional deferred annuities Indexed annuities Total Balance at December 31, 2022 $ 170 $ 2,319 $ 2,489 Effect of changes in instrument-specific credit risk 13 353 366 Balance, beginning of period, before changes in instrument-specific credit risk 183 2,672 2,855 Issuances — 47 47 Interest accrual 7 108 115 Attributed fees collected 2 250 252 Benefit payments (1) (24) (25) Effect of changes in interest rates (18) (591) (609) Effect of changes in equity — (26) (26) Effect of actual behavior compared to expected behavior 4 42 46 Effect of changes in future expected policyholder behavior (3) 78 75 Effect of changes in other future expected assumptions — 6 6 Balance, end of period, before changes in instrument-specific credit risk 174 2,562 2,736 Effect of changes in instrument-specific credit risk (7) (139) (146) Balance at September 30, 2023 $ 167 $ 2,423 $ 2,590 September 30, 2023 Net amount at risk $ 425 $ 14,438 $ 14,863 Weighted-average attained age of contract holders (in years) 75 69 69 Nine months ended September 30, 2022 (In millions) Traditional deferred annuities Indexed annuities Total Balance at January 1, 2022 $ 253 $ 4,194 $ 4,447 Issuances — 42 42 Interest accrual 2 24 26 Attributed fees collected 2 245 247 Benefit payments (3) (38) (41) Effect of changes in interest rates (77) (2,016) (2,093) Effect of changes in equity — 188 188 Effect of actual behavior compared to expected behavior 4 27 31 Effect of changes in other future expected assumptions (2) (41) (43) Balance, end of period, before changes in instrument-specific credit risk 179 2,625 2,804 Effect of changes in instrument-specific credit risk (18) (506) (524) Balance at September 30, 2022 $ 161 $ 2,119 $ 2,280 September 30, 2022 Net amount at risk $ 421 $ 13,169 $ 13,590 Weighted-average attained age of contract holders (in years) 75 69 69 The following is a reconciliation of market risk benefits to the condensed consolidated balance sheets. Market risk benefit assets are included in other assets on the condensed consolidated balance sheets. September 30, 2023 September 30, 2022 (In millions) Asset Liability Net liability Asset Liability Net liability Traditional deferred annuities $ — $ 167 $ 167 $ — $ 161 $ 161 Indexed annuities 431 2,854 2,423 511 2,630 2,119 Total $ 431 $ 3,021 $ 2,590 $ 511 $ 2,791 $ 2,280
Summary of the Unobservable Inputs for the Embedded Derivative of Fixed Indexed Annuities	The following summarizes the unobservable inputs for AFS, trading and equity securities, mortgage loans, investment funds and the embedded derivatives of fixed indexed annuities, including those of consolidated VIEs: September 30, 2023 (In millions, except for percentages and multiples) Fair value Valuation technique Unobservable inputs Minimum Maximum Weighted average Impact of an increase in the input on fair value AFS, trading and equity securities $ 14,272 Discounted cash flow Discount rate 2.3 % 18.8 % 7.2 % 1 Decrease Mortgage loans 41,254 Discounted cash flow Discount rate 2.2 % 21.9 % 7.0 % 1 Decrease Investment funds 483 Discounted cash flow Discount rate 6.3 % 6.3 % 6.3 % Decrease 511 Net tangible asset values Implied multiple 1.18x 1.18x 1.18x Increase 408 Reported net asset value Reported net asset value N/A N/A N/A N/A Interest sensitive contract liabilities – fixed indexed annuities embedded derivatives 7,345 Discounted cash flow Nonperformance risk 0.6 % 1.6 % 1.2 % 2 Decrease Option budget 0.5 % 5.9 % 2.3 % 3 Increase Surrender rate 6.7 % 13.3 % 8.8 % 3 Decrease December 31, 2022 (In millions, except for percentages and multiples) Fair value Valuation technique Unobservable inputs Minimum Maximum Weighted average Impact of an increase in the input on fair value AFS, trading and equity securities $ 10,671 Discounted cash flow Discount rate 2.2 % 18.8 % 6.8 % 1 Decrease Mortgage loans 30,811 Discounted cash flow Discount rate 1.5 % 22.1 % 6.3 % 1 Decrease Investment funds 506 Discounted cash flow Discount rate 6.4 % 6.4 % 6.4 % Decrease 873 Discounted cash flow / Discount rate / 16.5% / 9x 16.5% / 9x 16.5% / 9x Decrease/Increase 529 Net tangible asset values Implied multiple 1.26x 1.26x 1.26x Increase 563 Reported net asset value Reported net asset value N/A N/A N/A N/A Interest sensitive contract liabilities – fixed indexed annuities embedded derivatives 5,841 Discounted cash flow Nonperformance risk 0.1 % 1.7 % 1.0 % 2 Decrease Option budget 0.5 % 5.3 % 1.9 % 3 Increase Surrender rate 5.1 % 11.5 % 8.1 % 3 Decrease 1 The discount rate weighted average is calculated based on the relative fair values of the securities or loans. 2 The nonperformance risk weighted average is based on the projected cash flows attributable to the embedded derivative. 3 The option budget and surrender rate weighted averages are calculated based on projected account values. The following summarizes the unobservable inputs for market risk benefits: September 30, 2023 (In millions, except for percentages) Fair value Valuation technique Unobservable inputs Minimum Maximum Weighted average Impact of an increase in the input on fair value Market risk benefits, net $ 2,590 Discounted cash flow Nonperformance risk 0.6 % 1.6 % 1.4 % 1 Decrease Option budget 0.5 % 5.9 % 1.9 % 2 Decrease Surrender rate 3.4 % 6.5 % 4.6 % 2 Decrease Utilization rate 28.6 % 95.0 % 83.2 % 3 Increase September 30, 2022 (In millions, except for percentages) Fair value Valuation technique Unobservable inputs Minimum Maximum Weighted average Impact of an increase in the input on fair value Market risk benefits, net $ 2,280 Discounted cash flow Nonperformance risk 0.6 % 1.9 % 1.6 % 1 Decrease Option budget 0.5 % 4.5 % 1.6 % 2 Decrease Surrender rate 3.3 % 6.8 % 4.5 % 2 Decrease Utilization rate 28.6 % 95.0 % 81.9 % 3 Increase 1 The nonperformance risk weighted average is based on the cash flows underlying the market risk benefit reserve. 2 The option budget and surrender rate weighted averages are calculated based on projected account values. 3 The utilization of GLWB withdrawals represents the estimated percentage of policyholders that are expected to use their income rider over the duration of the contract, with the weighted average based on current account values.

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Accumulated Other Comprehensive Income	The following provides the details and changes in AOCI: (In millions) Unrealized investment gains (losses) on AFS securities without a credit allowance Unrealized investment gains (losses) on AFS securities with a credit allowance Unrealized gains (losses) on hedging instruments Remeasurement gains (losses) on future policy benefits related to discount rate Remeasurement gains (losses) on market risk benefits related to credit risk Foreign currency translation and other adjustments Accumulated other comprehensive income (loss) Balance at June 30, 2023 $ (11,049) $ (378) $ 26 $ 4,708 $ 312 $ 5 $ (6,376) Other comprehensive income (loss) before reclassifications (3,199) 33 (192) 1,317 (254) (21) (2,316) Less: Reclassification adjustments for gains (losses) realized 1 (11) — 21 — — — 10 Less: Income tax expense (benefit) (654) 6 (46) 273 (52) (3) (476) Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of subsidiary issuance of equity interests and tax (577) (3) (26) 471 (8) (4) (147) Balance at September 30, 2023 $ (13,006) $ (348) $ (115) $ 5,281 $ 118 $ (9) $ (8,079) 1 Recognized in investment related gains (losses) on the condensed consolidated statements of income (loss). (In millions) Unrealized investment gains (losses) on AFS securities without a credit allowance Unrealized investment gains (losses) on AFS securities with a credit allowance Unrealized gains (losses) on hedging instruments Remeasurement gains (losses) on future policy benefits related to discount rate Remeasurement gains (losses) on market risk benefits related to credit risk Foreign currency translation and other adjustments Accumulated other comprehensive income (loss) Balance at June 30, 2022 $ (9,996) $ (138) $ (28) $ 4,079 $ 448 $ (63) $ (5,698) Other comprehensive income (loss) before reclassifications (5,824) (128) (79) 2,374 (52) 9 (3,700) Less: Reclassification adjustments for gains (losses) realized in net income 1 (24) — 1 — — — (23) Less: Income tax expense (benefit) (1,001) (23) (12) 325 (9) (7) (727) Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of tax (713) (5) (91) 641 (1) (6) (175) Balance at September 30, 2022 $ (14,082) $ (238) $ (5) $ 5,487 $ 406 $ (41) $ (8,473) 1 Recognized in investment related gains (losses) on the condensed consolidated statements of income (loss). (In millions) Unrealized investment gains (losses) on AFS securities without a credit allowance Unrealized investment gains (losses) on AFS securities with a credit allowance Unrealized gains (losses) on hedging instruments Remeasurement gains (losses) on future policy benefits related to discount rate Remeasurement gains (losses) on market risk benefits related to credit risk Foreign currency translation and other adjustments Accumulated other comprehensive income (loss) Balance at December 31, 2022 $ (12,565) $ (334) $ 47 $ 5,256 $ 285 $ (10) $ (7,321) Other comprehensive income (loss) before reclassifications (1,841) (31) (214) 1,328 (220) 6 (972) Less: Reclassification adjustments for gains (losses) realized in net income 1 (105) — 66 — — — (39) Less: Income tax expense (benefit) (828) (12) (68) 777 (46) 2 (175) Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of subsidiary issuance of equity interests and tax (467) (5) (50) 526 (7) 3 — Balance at September 30, 2023 $ (13,006) $ (348) $ (115) $ 5,281 $ 118 $ (9) $ (8,079) 1 Recognized in investment related gains (losses) on the condensed consolidated statements of income (loss). (In millions) Unrealized investment gains (losses) on AFS securities without a credit allowance Unrealized investment gains (losses) on AFS securities with a credit allowance Unrealized gains (losses) on hedging instruments Remeasurement gains (losses) on future policy benefits related to discount rate Remeasurement gains (losses) on market risk benefits related to credit risk Foreign currency translation and other adjustments Accumulated other comprehensive income (loss) Balance at January 1, 2022 $ — $ — $ — $ — $ — $ — $ — Other comprehensive income (loss) before reclassifications (20,037) (319) (112) 8,833 524 (72) (11,183) Less: Reclassification adjustments for gains (losses) realized 1 (178) — 16 — — — (162) Less: Income tax expense (benefit) (3,526) (57) (21) 1,284 112 (12) (2,220) Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of tax (2,251) (24) (102) 2,062 6 (19) (328) Balance at September 30, 2022 $ (14,082) $ (238) $ (5) $ 5,487 $ 406 $ (41) $ (8,473) 1 Recognized in investment related gains (losses) on the condensed consolidated statements of income (loss).

Related Parties (Tables)

Related Parties (Tables)	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table summarizes our investments in Athora: (In millions) September 30, 2023 December 31, 2022 Investment fund $ 1,043 $ 959 Non-redeemable preferred equity securities 239 273 Total investment in Athora $ 1,282 $ 1,232

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Restricted Pledged Assets and Funds in Trust	The total restricted assets included on the condensed consolidated balance sheets are as follows: (In millions) September 30, 2023 December 31, 2022 AFS securities $ 24,307 $ 15,366 Trading securities 163 55 Equity securities 77 38 Mortgage loans 10,802 8,849 Investment funds 193 103 Derivative assets 88 65 Short-term investments 68 120 Other investments 286 170 Restricted cash 1,218 628 Total restricted assets $ 37,202 $ 25,394

Business, Basis of Presentati_3

Business, Basis of Presentation and Significant Accounting Policies Narrative (Details)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Net premium ratio cap (in percent)	100%

Adoption of Accounting Pronou_3

Adoption of Accounting Pronouncement - Future Policy Benefits and Changes to the Liability (Details) $ in Millions	Jan. 01, 2022 USD ($)
Policyholder Account Balance [Roll Forward]
Balance as of January 1, 2022	$ 47,114
Change in discount rate assumptions	2,406
Adjustment for removal of balances related to market risk benefits	(5,610)
Adjustment for offsetting balance in negative VOBA	(2,428)
Adjusted balance as of January 1, 2022	41,482
Traditional deferred annuities
Policyholder Account Balance [Roll Forward]
Balance as of January 1, 2022	221
Change in discount rate assumptions	0
Adjustment for removal of balances related to market risk benefits	(221)
Adjustment for offsetting balance in negative VOBA	0
Adjusted balance as of January 1, 2022	0
Indexed annuities
Policyholder Account Balance [Roll Forward]
Balance as of January 1, 2022	5,389
Change in discount rate assumptions	0
Adjustment for removal of balances related to market risk benefits	(5,389)
Adjustment for offsetting balance in negative VOBA	0
Adjusted balance as of January 1, 2022	0
Payout annuities with life contingencies
Policyholder Account Balance [Roll Forward]
Balance as of January 1, 2022	32,872
Change in discount rate assumptions	2,406
Adjustment for removal of balances related to market risk benefits	0
Adjustment for offsetting balance in negative VOBA	0
Adjusted balance as of January 1, 2022	35,278
Reconciling items
Policyholder Account Balance [Roll Forward]
Balance as of January 1, 2022	8,632
Change in discount rate assumptions	0
Adjustment for removal of balances related to market risk benefits	0
Adjustment for offsetting balance in negative VOBA	(2,428)
Adjusted balance as of January 1, 2022	$ 6,204

Adoption of Accounting Pronou_4

Adoption of Accounting Pronouncement - Market Risk Benefit (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jan. 01, 2022
Market Risk Benefit [Roll Forward]
Beginning Balance	$ 2,736	$ (2,489)	$ 2,804	$ 4,447
Reported
Market Risk Benefit [Roll Forward]
Beginning Balance				0
Adjustment for addition of existing balances
Market Risk Benefit [Roll Forward]
Beginning Balance				5,610
Adjustment to positive VOBA due to fair value adjustment for market risk benefits
Market Risk Benefit [Roll Forward]
Beginning Balance				(1,133)
Adjustment to negative VOBA due to fair value adjustment for market risk benefits
Market Risk Benefit [Roll Forward]
Beginning Balance				(30)
Traditional deferred annuities
Market Risk Benefit [Roll Forward]
Beginning Balance	174	(170)	179	253
Traditional deferred annuities | Reported
Market Risk Benefit [Roll Forward]
Beginning Balance				0
Traditional deferred annuities | Adjustment for addition of existing balances
Market Risk Benefit [Roll Forward]
Beginning Balance				221
Traditional deferred annuities | Adjustment to positive VOBA due to fair value adjustment for market risk benefits
Market Risk Benefit [Roll Forward]
Beginning Balance				32
Traditional deferred annuities | Adjustment to negative VOBA due to fair value adjustment for market risk benefits
Market Risk Benefit [Roll Forward]
Beginning Balance				0
Indexed annuities
Market Risk Benefit [Roll Forward]
Beginning Balance	$ 2,562	$ (2,319)	$ 2,625	4,194
Indexed annuities | Reported
Market Risk Benefit [Roll Forward]
Beginning Balance				0
Indexed annuities | Adjustment for addition of existing balances
Market Risk Benefit [Roll Forward]
Beginning Balance				5,389
Indexed annuities | Adjustment to positive VOBA due to fair value adjustment for market risk benefits
Market Risk Benefit [Roll Forward]
Beginning Balance				(1,165)
Indexed annuities | Adjustment to negative VOBA due to fair value adjustment for market risk benefits
Market Risk Benefit [Roll Forward]
Beginning Balance				$ (30)

Adoption of Accounting Pronou_5

Adoption of Accounting Pronouncement - Market Risk Benefits by Asset and Liability Positions (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jan. 01, 2022
Market Risk Benefit [Line Items]
Asset	$ 431		$ 511
Liability	3,021	$ 2,970	2,791
Net liability	(2,590)	(2,855)	(2,280)
Reported
Market Risk Benefit [Line Items]
Asset				$ 366
Liability		0		4,813
Net liability				4,447
Traditional deferred annuities
Market Risk Benefit [Line Items]
Asset	0		0
Liability	167		161
Net liability	(167)	(183)	(161)
Traditional deferred annuities | Reported
Market Risk Benefit [Line Items]
Asset				0
Liability				253
Net liability				253
Indexed annuities
Market Risk Benefit [Line Items]
Asset	431		511
Liability	2,854		2,630
Net liability	$ (2,423)	$ (2,672)	$ (2,119)
Indexed annuities | Reported
Market Risk Benefit [Line Items]
Asset				366
Liability				4,560
Net liability				$ 4,194

Adoption of Accounting Pronou_6

Adoption of Accounting Pronouncement - Deferred Acquisition Costs (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
VOBA
Beginning balance	$ 2,988	$ 3,083	$ 3,372
Ending balance	$ 2,670	$ 2,988	3,083
Reported
VOBA
Beginning balance			4,527
Change in discount rate assumptions for future policy benefits
VOBA
Beginning balance			22
Fair value adjustment of market risk benefits
VOBA
Beginning balance			$ 1,133

Adoption of Accounting Pronou_7

Adoption of Accounting Pronouncement - Balance Sheet (Details) - USD ($) $ in Millions	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Jan. 01, 2022
Assets
Reinsurance recoverable	$ 4,058		$ 4,358
Deferred acquisition costs, deferred sales inducements and value of business acquired	5,448		4,466	$ 4,070		$ 3,372
Other assets	8,628		8,693
Total assets	269,763		243,931
Liabilities
Interest sensitive contract liabilities	189,065		173,616	166,878
Future policy benefits	46,672		42,110	41,285
Market risk benefits	3,021		2,970	2,791
Total liabilities	255,734		233,382
Equity
Retained deficit	(2,831)		(3,640)
Accumulated other comprehensive income (loss)	(8,079)	$ (6,376)	(7,321)	(8,473)	$ (5,698)	0
Total Athene Holding Ltd. shareholders’ equity	8,537		7,158
Noncontrolling interests	5,492		3,391
Total equity	14,029	$ 13,234	10,549	$ 6,637	$ 9,758	22,546
Total liabilities and equity	$ 269,763		243,931
Reported
Assets
Reinsurance recoverable			4,367
Deferred acquisition costs, deferred sales inducements and value of business acquired			5,576
Other assets			9,690
Total assets			246,047
Liabilities
Interest sensitive contract liabilities			173,653
Future policy benefits			55,328
Market risk benefits			0			$ 4,813
Total liabilities			243,667
Equity
Retained deficit			(4,892)
Accumulated other comprehensive income (loss)			(12,311)
Total Athene Holding Ltd. shareholders’ equity			916
Noncontrolling interests			1,464
Total equity			2,380
Total liabilities and equity			246,047
Adoption
Assets
Reinsurance recoverable			(9)
Deferred acquisition costs, deferred sales inducements and value of business acquired			(1,110)
Other assets			(997)
Total assets			(2,116)
Liabilities
Interest sensitive contract liabilities			(37)
Future policy benefits			(13,218)
Market risk benefits			2,970
Total liabilities			(10,285)
Equity
Retained deficit			1,252
Accumulated other comprehensive income (loss)			4,990
Total Athene Holding Ltd. shareholders’ equity			6,242
Noncontrolling interests			1,927
Total equity			8,169
Total liabilities and equity			$ (2,116)

Adoption of Accounting Pronou_8

Adoption of Accounting Pronouncement - Income Statement (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended	9 Months Ended			12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2022
Revenues
Investment related gains (losses)	$ (2,624)	$ (2,848)	$ (4,212)		$ (1,193)	$ (12,811)
Total revenues	1,436	2,310	(281)	$ 1,526	18,182	3,836		$ 7,623
Benefits and expenses
Interest sensitive contract benefits	333	171	(99)	(752)	3,634	(581)		538
Future policy and other policy benefits	368	3,270	2,184	7,960	10,346	11,230		12,465
Market risk benefits remeasurement (gains) losses	(441)	(458)	(622)	(1,231)	(166)	(1,689)		(1,657)
Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired	211	112	98	206	502	318		444
Policy and other operating expenses	472	388	338	695	1,359	1,083		1,495
Total benefits and expenses	943	3,483	1,899	6,878	15,675	10,361		13,285
Income (loss) before income taxes	493	(1,173)	(2,180)	(5,352)	2,507	(6,525)		(5,662)
Income tax expense (benefit)	162	(121)	(284)	(662)	458	(783)		(646)
Net income (loss)	331	(1,052)	(1,896)	(4,690)	2,049	(5,742)	$ (5,742)	(5,016)
Less: Net income (loss) attributable to noncontrolling interests	(155)	(465)	(881)	(1,970)	354	(2,435)		(2,106)
Net income (loss) attributable to Athene Holding Ltd. shareholders	486	(587)	(1,015)	(2,720)	1,695	(3,307)		(2,910)
Less: Preferred stock dividends	44	35	35	70	136	105		141
Net income (loss) available to Athene Holding Ltd. common shareholder	$ 442	$ (622)	(1,050)	(2,790)	$ 1,559	(3,412)		(3,051)
Reported
Revenues
Investment related gains (losses)			(4,200)			(12,812)
Total revenues			(269)	1,526		3,835		7,623
Benefits and expenses
Interest sensitive contract benefits			(41)	(662)		(573)		541
Future policy and other policy benefits			2,085	7,694		10,988		12,310
Market risk benefits remeasurement (gains) losses			0	0		0		0
Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired			125	250		375		509
Policy and other operating expenses			335	693		1,081		1,493
Total benefits and expenses			2,504	7,975		11,871		14,853
Income (loss) before income taxes			(2,773)	(6,449)		(8,036)		(7,230)
Income tax expense (benefit)			(407)	(891)		(1,101)		(976)
Net income (loss)			(2,366)	(5,558)		(6,935)		(6,254)
Less: Net income (loss) attributable to noncontrolling interests			(883)	(1,955)		(2,431)		(2,092)
Net income (loss) attributable to Athene Holding Ltd. shareholders			(1,483)	(3,603)		(4,504)		(4,162)
Less: Preferred stock dividends			35	70		105		141
Net income (loss) available to Athene Holding Ltd. common shareholder			(1,518)	(3,673)		(4,609)		(4,303)
Adoption
Revenues
Investment related gains (losses)			(12)			1
Total revenues			(12)	0		1		0
Benefits and expenses
Interest sensitive contract benefits			(58)	(90)		(8)		(3)
Future policy and other policy benefits			99	266		242		155
Market risk benefits remeasurement (gains) losses			(622)	(1,231)		(1,689)		(1,657)
Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired			(27)	(44)		(57)		(65)
Policy and other operating expenses			3	2		2		2
Total benefits and expenses			(605)	(1,097)		(1,510)		(1,568)
Income (loss) before income taxes			593	1,097		1,511		1,568
Income tax expense (benefit)			123	229		318		330
Net income (loss)			470	868		1,193		1,238
Less: Net income (loss) attributable to noncontrolling interests			2	(15)		(4)		(14)
Net income (loss) attributable to Athene Holding Ltd. shareholders			468	883		1,197		1,252
Less: Preferred stock dividends			0	0		0		0
Net income (loss) available to Athene Holding Ltd. common shareholder			$ 468	$ 883		$ 1,197		$ 1,252

Adoption of Accounting Pronou_9

Adoption of Accounting Pronouncement - Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended	9 Months Ended			12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income (loss)	$ 331	$ (1,052)	$ (1,896)	$ (4,690)	$ 2,049	$ (5,742)	$ (5,742)	$ (5,016)
Other comprehensive income (loss), before tax
Unrealized investment gains (losses) on available-for-sale securities	(3,155)	(5,928)	(6,697)	(14,250)	(1,767)	(20,178)		(18,156)
Remeasurement gains (losses) on future policy benefits related to discount rate	1,317	2,374	3,562	6,459	1,328	8,833		8,425
Remeasurement gains (losses) on market risk benefits related to credit risk	(254)	(52)	397	576	(220)	524		366
Foreign currency translation and other adjustments	(21)	9	(2)	(81)	6	(72)		(27)
Other Comprehensive Income (Loss), before Tax, Total	(2,326)	(3,677)	(2,869)	(7,344)	(933)	(11,021)		(9,390)
Income tax expense (benefit) related to other comprehensive income (loss)	(476)	(727)	(615)	(1,493)	(175)	(2,220)	(2,220)	(1,933)
Other comprehensive income (loss)	(1,850)	(2,950)	(2,254)	(5,851)	(758)	(8,801)	$ (8,801)	(7,457)
Comprehensive income (loss)	(1,519)	(4,002)	(4,150)	(10,541)	1,291	(14,543)		(12,473)
Less: Comprehensive income (loss) attributable to noncontrolling interests	(299)	(640)	(817)	(2,123)	357	(2,763)		(2,242)
Comprehensive income (loss) attributable to Athene Holding Ltd. shareholders	$ (1,220)	$ (3,362)	(3,333)	(8,418)	$ 934	(11,780)		(10,231)
Adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income (loss)			470	868		1,193		1,238
Other comprehensive income (loss), before tax
Unrealized investment gains (losses) on available-for-sale securities			(267)	(547)		(764)		(699)
Remeasurement gains (losses) on future policy benefits related to discount rate			3,562	6,459		8,833		8,425
Remeasurement gains (losses) on market risk benefits related to credit risk			397	576		524		366
Foreign currency translation and other adjustments			(6)	(27)		(59)		(11)
Other Comprehensive Income (Loss), before Tax, Total			3,686	6,461		8,534		8,081
Income tax expense (benefit) related to other comprehensive income (loss)			555	960		1,224		1,150
Other comprehensive income (loss)			3,131	5,501		7,310		6,931
Comprehensive income (loss)			3,601	6,369		8,503		8,169
Less: Comprehensive income (loss) attributable to noncontrolling interests			777	1,397		2,024		1,927
Comprehensive income (loss) attributable to Athene Holding Ltd. shareholders			2,824	4,972		6,479		6,242
Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income (loss)			(2,366)	(5,558)		(6,935)		(6,254)
Other comprehensive income (loss), before tax
Unrealized investment gains (losses) on available-for-sale securities			(6,430)	(13,703)		(19,414)		(17,457)
Remeasurement gains (losses) on future policy benefits related to discount rate			0	0		0		0
Remeasurement gains (losses) on market risk benefits related to credit risk			0	0		0		0
Foreign currency translation and other adjustments			4	(54)		(13)		(16)
Other Comprehensive Income (Loss), before Tax, Total			(6,555)	(13,805)		(19,555)		(17,471)
Income tax expense (benefit) related to other comprehensive income (loss)			(1,170)	(2,453)		(3,444)		(3,083)
Other comprehensive income (loss)			(5,385)	(11,352)		(16,111)		(14,388)
Comprehensive income (loss)			(7,751)	(16,910)		(23,046)		(20,642)
Less: Comprehensive income (loss) attributable to noncontrolling interests			(1,594)	(3,520)		(4,787)		(4,169)
Comprehensive income (loss) attributable to Athene Holding Ltd. shareholders			$ (6,157)	$ (13,390)		$ (18,259)		$ (16,473)

Adoption of Accounting Prono_10

Adoption of Accounting Pronouncement - Statement of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended						6 Months Ended		9 Months Ended						12 Months Ended
	Sep. 30, 2023		Sep. 30, 2022		Mar. 31, 2022		Jun. 30, 2022		Sep. 30, 2023		Sep. 30, 2022		Sep. 30, 2022		Dec. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income (loss)	$ 331		$ (1,052)		$ (1,896)		$ (4,690)		$ 2,049		$ (5,742)		$ (5,742)		$ (5,016)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired	211		112		98		206		502		318				444
Net recognized (gains) losses on investments and derivatives					1,825				325		5,957
Changes in operating assets and liabilities:
Interest sensitive contract liabilities					(548)		(1,724)		1,485		(2,052)				(1,337)
Future policy benefits, market risk benefits and reinsurance recoverable					(776)		3,000		2,917		3,837				3,901
Other assets and liabilities					(611)		(910)		387		(1,268)				(1,194)
Net cash provided by operating activities					155		4,726		3,704		6,077				6,258
Net cash used in investing activities					(6,165)		(11,719)		(29,000)		(22,338)				(34,375)
Net cash provided by financing activities					5,463		8,707		27,891		17,115				26,472
Effect of exchange rate changes on cash and cash equivalents					(4)		(20)		2		(18)				(15)
Net increase in cash and cash equivalents					(551)		1,694		2,597		836				(1,660)
Cash and cash equivalents at beginning of year			12,123		10,429	[1]	10,429	[1]	8,769	[1]	10,429	[1]			10,429	[1]
Cash and cash equivalents at end of period	$ 11,366	[1]	11,265	[1]	9,878		12,123		11,366	[1]	11,265	[1]	11,265	[1]	8,769	[1]
Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income (loss)					(2,366)		(5,558)				(6,935)				(6,254)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired					125		250				375				509
Net recognized (gains) losses on investments and derivatives					1,813						5,958
Changes in operating assets and liabilities:
Interest sensitive contract liabilities					(480)		(1,604)				(2,002)				(1,269)
Future policy benefits, market risk benefits and reinsurance recoverable					(266)		3,933				5,240				5,339
Other assets and liabilities					(734)		(1,139)				(1,586)				(1,527)
Net cash provided by operating activities					155		4,726				6,077				6,258
Net cash used in investing activities					(6,165)		(11,719)				(22,338)				(34,375)
Net cash provided by financing activities					5,463		8,707				17,115				26,472
Effect of exchange rate changes on cash and cash equivalents					(4)		(20)				(18)				(15)
Net increase in cash and cash equivalents					(551)		1,694				836				(1,660)
Cash and cash equivalents at beginning of year			12,123		10,429		10,429		8,769		10,429				10,429
Cash and cash equivalents at end of period			11,265		9,878		12,123				11,265		11,265		8,769
Adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income (loss)					470		868				1,193				1,238
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired					(27)		(44)				(57)				(65)
Net recognized (gains) losses on investments and derivatives					12						(1)
Changes in operating assets and liabilities:
Interest sensitive contract liabilities					(68)		(120)				(50)				(68)
Future policy benefits, market risk benefits and reinsurance recoverable					(510)		(933)				(1,403)				(1,438)
Other assets and liabilities					123		229				318				333
Net cash provided by operating activities					0		0				0				0
Net cash used in investing activities					0		0				0				0
Net cash provided by financing activities					0		0				0				0
Effect of exchange rate changes on cash and cash equivalents					0		0				0				0
Net increase in cash and cash equivalents					0		0				0				0
Cash and cash equivalents at beginning of year			0		0		0		$ 0		0				0
Cash and cash equivalents at end of period			$ 0		$ 0		$ 0				$ 0		$ 0		$ 0
[1] 1 Includes cash and cash equivalents, restricted cash and cash and cash equivalents of consolidated variable interest entities.

Business Combination - Addition

Business Combination - Additional Information (Details) - Apollo Global Management , Inc.	Jan. 01, 2022 shares
Business Acquisition [Line Items]
Business Acquisition, Share Conversion Rate	1.149
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	158,200,000
Apollo
Business Acquisition [Line Items]
Common Stock, Shares, Outstanding and Previously Held	54,600,000
Common Class A
Business Acquisition [Line Items]
Common stock outstanding (in shares)	137,600,000

Business Combination - Consider

Business Combination - Consideration Calculation (Details) $ / shares in Units, shares in Millions, $ in Millions	Jan. 01, 2022 USD ($) $ / shares shares	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)
Business Acquisition [Line Items]
Total equity	$ 22,546	$ 14,029	$ 13,234	$ 10,549	$ 6,637	$ 9,758
Apollo Global Management , Inc.
Business Acquisition [Line Items]
Business Combination, Share Exchange Ratio	1.149
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares	158.2
Share Price | $ / shares	$ 72.43
Business Combination, Consideration Transferred prior to Adjustments	$ 11,455
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	699
Business Combination, Consideration Transferred, Other	896
Business Combination, Consideration Transferred	13,050
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value	4,554
Business Combination, Consideration Transferred, Including Equity Interest in Acquiree Held Prior to Combination	17,604
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value	$ 2,276
Apollo Global Management , Inc. | Common Class A
Business Acquisition [Line Items]
Common stock outstanding (in shares) | shares	137.6
Apollo Global Management , Inc. | Preferred stock
Business Acquisition [Line Items]
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value	$ 2,666

Business Combination - Fair Val

Business Combination - Fair Value and Goodwill Calculation (Details) - USD ($) $ in Millions	Jan. 01, 2022	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Business Acquisition [Line Items]
Cash and cash equivalents		$ 9,996	$ 7,779
Restricted cash		1,218	628
Reinsurance recoverable		4,058	4,358
Business Combination, Consideration Transferred, Liabilities Incurred	$ 3,372	2,670	2,988	$ 3,083
Interest sensitive contract liabilities		189,065	173,616	166,878
Payout annuities with life contingencies		46,672	42,110	41,285
Liability		3,021	2,970	$ 2,791
Payables for collateral on derivatives and securities to repurchase		7,652	6,707
Goodwill		4,060	4,058
Related Party
Business Acquisition [Line Items]
Interest sensitive contract liabilities		9,055	11,889
Payout annuities with life contingencies		3	1,353
Liability		183	195
Variable Interest Entities
Business Acquisition [Line Items]
Cash and cash equivalents		$ 152	$ 362
Apollo Global Management , Inc.
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	13,050
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value	4,554
Business Combination, Consideration Transferred, Including Equity Interest in Acquiree Held Prior to Combination	17,604
Investments	176,015
Cash and cash equivalents	9,479
Restricted cash	796
Reinsurance recoverable	4,977
Business Combination, Consideration Transferred, Liabilities Incurred	3,372
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	6,115
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	238,252
Interest sensitive contract liabilities	160,241
Payout annuities with life contingencies	41,482
Liability	4,813
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt	3,295
Payables for collateral on derivatives and securities to repurchase	7,044
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	2,443
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities	219,779
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	18,473
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value	2,276
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest	13,531
Goodwill	4,073
Apollo Global Management , Inc. | Preferred stock
Business Acquisition [Line Items]
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value	2,666
Apollo Global Management , Inc. | Related Party
Business Acquisition [Line Items]
Investments	33,863
Apollo Global Management , Inc. | Variable Interest Entities
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	3,635
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	$ 461

Business Combination - Fair V_2

Business Combination - Fair Value of Intangible Assets (Details) - Apollo Global Management , Inc. $ in Millions	Jan. 01, 2022 USD ($)
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets	$ 5,428
Licensing Agreements
Business Acquisition [Line Items]
Indefinite-lived Intangible Assets Acquired	26
Insurance Contracts Acquired in Business Combination
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 3,372
Finite-Lived Intangible Asset, Useful Life	7 years
Distribution Rights
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 1,870
Finite-Lived Intangible Asset, Useful Life	18 years
Trade Names
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 160
Finite-Lived Intangible Asset, Useful Life	20 years

Investments - Schedule of AFS S

Investments - Schedule of AFS Securities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Jan. 01, 2022
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities	$ 150,894		$ 131,422
AFS securities allowance for credit losses	(579)	$ (522)	(459)	$ (436)	$ (629)	$ (311)
Gross Unrealized Gains	478		309
Gross Unrealized Losses	(21,093)		(19,047)
Available-for-sale securities	129,700		112,225
Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities	136,316		120,982
AFS securities allowance for credit losses	(578)	(521)	(458)	(435)	(609)	(311)
Gross Unrealized Gains	441		295
Gross Unrealized Losses	(20,464)		(18,415)
Available-for-sale securities	$ 115,715		$ 102,404
Carrying Amount, Assets, Percent of Total	100%		100%
Related Party
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities	$ 14,578		$ 10,440
AFS securities allowance for credit losses	(1)	(1)	(1)	(1)	(20)	0
Gross Unrealized Gains	37		14
Gross Unrealized Losses	(629)		(632)
Available-for-sale securities	$ 13,985		$ 9,821
Carrying Amount, Assets, Percent of Total	100%		100%
U.S. government and agencies | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities	$ 5,506		$ 3,333
AFS securities allowance for credit losses	0		0
Gross Unrealized Gains	0		0
Gross Unrealized Losses	(1,246)		(756)
Available-for-sale securities	4,260		2,577
US state, municipal and political subdivisions | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities	1,273		1,218
AFS securities allowance for credit losses	0		0
Gross Unrealized Gains	0		0
Gross Unrealized Losses	(311)		(291)
Available-for-sale securities	962		927
Foreign governments | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities	1,279		1,207
AFS securities allowance for credit losses	(27)	(27)	(27)	(27)	(61)	0
Gross Unrealized Gains	6		3
Gross Unrealized Losses	(343)		(276)
Available-for-sale securities	915		907
Corporate | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities	83,029		74,644
AFS securities allowance for credit losses	(140)	(73)	(61)	(66)	(70)	0
Gross Unrealized Gains	68		92
Gross Unrealized Losses	(15,656)		(13,774)
Available-for-sale securities	67,301		60,901
Corporate | Related Party
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities	1,426		1,028
AFS securities allowance for credit losses	0		0
Gross Unrealized Gains	1		1
Gross Unrealized Losses	(71)		(47)
Available-for-sale securities	1,356		982
CLO | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities	19,641		17,722
AFS securities allowance for credit losses	(3)	(3)	(7)	(5)	(107)	0
Gross Unrealized Gains	171		115
Gross Unrealized Losses	(883)		(1,337)
Available-for-sale securities	18,926		16,493
CLO | Related Party
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities	4,390		3,346
AFS securities allowance for credit losses	0		(1)	(1)	(19)	0
Gross Unrealized Gains	19		10
Gross Unrealized Losses	(174)		(276)
Available-for-sale securities	4,235		3,079
ABS | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities	11,608		11,447
AFS securities allowance for credit losses	(30)	(35)	(29)	(13)	(14)	(5)
Gross Unrealized Gains	23		15
Gross Unrealized Losses	(794)		(906)
Available-for-sale securities	10,807		10,527
ABS | Related Party
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities	8,762		6,066
AFS securities allowance for credit losses	(1)	(1)	0	0	(1)	0
Gross Unrealized Gains	17		3
Gross Unrealized Losses	(384)		(309)
Available-for-sale securities	8,394		5,760
CMBS | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities	6,092		4,636
AFS securities allowance for credit losses	(7)	(6)	(5)	(3)	(9)	0
Gross Unrealized Gains	12		6
Gross Unrealized Losses	(601)		(479)
Available-for-sale securities	5,496		4,158
RMBS | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities	7,888		6,775
AFS securities allowance for credit losses	(371)	$ (377)	(329)	$ (321)	$ (348)	$ (306)
Gross Unrealized Gains	161		64
Gross Unrealized Losses	(630)		(596)
Available-for-sale securities	$ 7,048		$ 5,914

Investments - Maturities of AFS

Investments - Maturities of AFS Securities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Amortized Cost
Amortized Cost	$ 150,894	$ 131,422
Fair Value
Total AFS fixed maturity securities	129,700	112,225
Consolidated Entity, excluding Affiliated Entity
Amortized Cost
Due in one year or less	2,232
Due after one year through five years	15,532
Due after five years through ten years	22,864
Due after ten years	50,459
CLO, ABS, CMBS and RMBS	45,229
Amortized Cost	136,316	120,982
Fair Value
Due in one year or less	2,167
Due after one year through five years	14,370
Due after five years through ten years	19,179
Due after ten years	37,722
CLO, ABS, CMBS and RMBS	42,277
Total AFS fixed maturity securities	115,715	102,404
Related Party
Amortized Cost
Due after one year through five years	908
Due after five years through ten years	130
Due after ten years	388
CLO, ABS, CMBS and RMBS	13,152
Amortized Cost	14,578	10,440
Fair Value
Due after one year through five years	883
Due after five years through ten years	123
Due after ten years	350
CLO, ABS, CMBS and RMBS	12,629
Total AFS fixed maturity securities	$ 13,985	$ 9,821

Investments - Unrealized Losses

Investments - Unrealized Losses on AFS Securities (Details) $ in Millions	Sep. 30, 2023 USD ($) security	Dec. 31, 2022 USD ($)
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 months	$ 29,565	$ 98,331
Fair Value, 12 months or greater	77,726	0
Total	107,291	98,331
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(1,761)	(18,593)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(18,813)	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(20,574)	(18,593)
Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 months	25,787	89,473
Fair Value, 12 months or greater	72,209	0
Total	97,996	89,473
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(1,609)	(17,965)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(18,365)	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ (19,974)	(17,965)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security	7,841
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | security	9,552
Related Party
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 months	$ 3,778	8,858
Fair Value, 12 months or greater	5,517	0
Total	9,295	8,858
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(152)	(628)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(448)	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ (600)	(628)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security	139
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | security	203
U.S. government and agencies | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 months	$ 2,023	2,539
Fair Value, 12 months or greater	2,167	0
Total	4,190	2,539
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(292)	(756)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(954)	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(1,246)	(756)
US state, municipal and political subdivisions | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 months	119	911
Fair Value, 12 months or greater	840	0
Total	959	911
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(11)	(291)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(300)	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(311)	(291)
Foreign governments | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 months	117	891
Fair Value, 12 months or greater	785	0
Total	902	891
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(9)	(275)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(331)	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(340)	(275)
Corporate | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 months	17,338	58,256
Fair Value, 12 months or greater	48,290	0
Total	65,628	58,256
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(1,075)	(13,773)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(14,553)	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(15,628)	(13,773)
Corporate | Related Party
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 months	578	619
Fair Value, 12 months or greater	356	0
Total	934	619
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(34)	(47)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(36)	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(70)	(47)
CLO | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 months	685	13,486
Fair Value, 12 months or greater	12,001	0
Total	12,686	13,486
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(21)	(1,277)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(811)	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(832)	(1,277)
CLO | Related Party
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 months	498	2,752
Fair Value, 12 months or greater	2,591	0
Total	3,089	2,752
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(19)	(273)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(153)	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(172)	(273)
ABS | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 months	2,780	8,119
Fair Value, 12 months or greater	4,320	0
Total	7,100	8,119
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(116)	(801)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(597)	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(713)	(801)
ABS | Related Party
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 months	2,702	5,487
Fair Value, 12 months or greater	2,570	0
Total	5,272	5,487
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(99)	(308)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(259)	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(358)	(308)
CMBS | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 months	1,453	2,650
Fair Value, 12 months or greater	1,883	0
Total	3,336	2,650
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(23)	(427)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(501)	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(524)	(427)
RMBS | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 months	1,272	2,621
Fair Value, 12 months or greater	1,923	0
Total	3,195	2,621
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(62)	(365)
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(318)	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ (380)	$ (365)

Investments - Allowance for Cre

Investments - Allowance for Credit Losses Rollforward (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance	$ 522	$ 629	$ 459	$ 311
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded	73	15	111	237
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase	1	2	40	3
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	(11)	(35)	(25)	(52)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)	(6)	(169)	(6)	(57)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Sell before Recovery	0	(6)	0	(6)
Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance	521	609	458	311
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded	73	15	110	216
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase	1	2	40	3
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	(11)	(35)	(25)	(52)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)	(6)	(150)	(5)	(37)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Sell before Recovery	0	(6)	0	(6)
Related Party
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance	1	20	1	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded	0	0	1	21
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase	0	0	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	0	0	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)	0	(19)	(1)	(20)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Sell before Recovery	0	0	0
Foreign governments | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance	27	61	27	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded	0	0	0	66
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase	0	0	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	0	(28)	0	(28)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)	0	(6)	0	(11)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Sell before Recovery	0	0	0	0
Corporate | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance	73	70	61	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded	67	5	88	66
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase	0	0	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	(2)	0	(8)	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)	2	(3)	(1)	6
Debt Securities, Available-for-sale, Allowance for Credit Loss, Sell before Recovery	0	(6)	0	(6)
Corporate | Related Party
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance			0
CLO | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance	3	107	7	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded	0	2	1	24
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase	0	0	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	0	0	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)	0	(104)	(5)	(19)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Sell before Recovery	0	0	0	0
CLO | Related Party
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance		19	1	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded		0	0	3
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase		0	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold		0	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)		(18)	(1)	(2)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Sell before Recovery		0	0	0
ABS | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance	35	14	29	5
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded	1	7	2	16
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase	0	0	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	(4)	0	(4)	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)	(2)	(8)	3	(8)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Sell before Recovery	0	0	0	0
ABS | Related Party
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance	1	1	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded	0	0	1	18
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase	0	0	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	0	0	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)	0	(1)	0	(18)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Sell before Recovery	0	0	0	0
CMBS | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance	6	9	5	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded	1	0	4	14
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase	0	0	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	0	0	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)	0	(6)	(2)	(11)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Sell before Recovery	0	0	0	0
RMBS | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance	377	348	329	306
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded	4	1	15	30
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase	1	2	40	3
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	(5)	(7)	(13)	(24)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)	(6)	(23)	0	6
Debt Securities, Available-for-sale, Allowance for Credit Loss, Sell before Recovery	$ 0	$ 0	$ 0	$ 0

Investments - Net Investment In

Investments - Net Investment Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Net Investment Income [Line Items]
Investment revenue	$ 3,214	$ 2,045	$ 8,811	$ 5,834
Investment funds	16,818		16,818		$ 14,128
Investment expenses	(286)	(202)	(759)	(582)
Net investment income	2,928	1,843	8,052	5,252
Trading securities
Net Investment Income [Line Items]
Investment revenue	49	41	135	153
Equity securities
Net Investment Income [Line Items]
Investment revenue	14	17	54	41
Mortgage loans
Net Investment Income [Line Items]
Investment revenue	642	336	1,632	870
Investment funds
Net Investment Income [Line Items]
Investment expenses	(13)	(35)	59	373
Funds withheld at interest
Net Investment Income [Line Items]
Investment revenue	486	534	1,368	1,347
Other
Net Investment Income [Line Items]
Investment revenue	214	75	623	165
Available-for-sale Securities
Net Investment Income [Line Items]
Investment revenue	$ 1,822	$ 1,077	$ 4,940	$ 2,885

Investments - Investment Relate

Investments - Investment Related Gains (Losses) (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Gain (Loss) on Securities [Line Items]
Gross realized gains on investment activity	$ 55	$ 84		$ 379	$ 404
Gross realized losses on investment activity	(431)	(761)		(647)	(2,003)
Net realized investment losses on AFS securities	(376)	(677)		(268)	(1,599)
Net recognized investment losses on trading securities	(137)	(121)		(105)	(489)
Net recognized investment losses on equity securities	(3)	(9)		(34)	(257)
Investment related gains (losses)	(2,624)	(2,848)	$ (4,212)	(1,193)	(12,811)
Derivative losses	(1,480)	(1,821)		(66)	(8,794)
Provision for Loan, Lease, and Other Losses	(60)	171		(237)	(193)
Other gains	343	808		355	1,615
Mortgage loans
Gain (Loss) on Securities [Line Items]
Investment related gains (losses)	$ (911)	$ (1,199)		$ (838)	$ (3,094)

Investments - Unrealized gains

Investments - Unrealized gains (losses) recognized in income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Gain (Loss) on Securities [Line Items]
Proceeds from Sale of Debt Securities, Available-for-sale	$ 724	$ 635	$ 3,918	$ 9,405
Consolidated Entity, excluding Affiliated Entity
Gain (Loss) on Securities [Line Items]
Debt Securities, Trading, Unrealized Gain (Loss)	(75)	(119)	(35)	(455)
Equity Securities, FV-NI, Unrealized Gain (Loss)	6	2	9	(237)
Related Party
Gain (Loss) on Securities [Line Items]
Debt Securities, Trading, Unrealized Gain (Loss)	3	3	3	(3)
Equity Securities, FV-NI, Unrealized Gain (Loss)	$ (9)	$ (18)	$ (16)	$ (31)

Investments - Mortgage Loans, N

Investments - Mortgage Loans, Net (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans	$ 41,254	$ 30,811
Mortgage loans
Loans and Leases Receivable Disclosure [Line Items]
Mark to fair value	(3,916)	(2,842)
Commercial mortgage loans
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	23,469	20,108
Mark to fair value	(2,430)	(1,743)
Investment Owned, Balance, Principal Amount	25,899	21,851
Commercial mortgage loans | Commercial mortgage loans
Loans and Leases Receivable Disclosure [Line Items]
Investment Owned, Balance, Principal Amount	24,667	21,061
Commercial mortgage loans | Commercial mortgage loans under development
Loans and Leases Receivable Disclosure [Line Items]
Investment Owned, Balance, Principal Amount	1,232	790
Residential mortgage loans
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, before allowance for credit losses	19,271	11,802
Mortgage loans, net of allowances	17,785	10,703
Mark to fair value	$ (1,486)	$ (1,099)

Investments - Mortgage Loans,_2

Investments - Mortgage Loans, Net by Property Type and Geographic Region (Details) - Commercial mortgage loans - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 23,469	$ 20,108
Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	100%	100%
Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	100%	100%
Total U.S. Region
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 19,874	$ 16,860
Total U.S. Region | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	84.70%	83.90%
East North Central
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 1,439	$ 1,437
East North Central | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	6.10%	7.10%
East South Central
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 422	$ 413
East South Central | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	1.80%	2.10%
Middle Atlantic
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 6,656	$ 5,183
Middle Atlantic | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	28.40%	25.80%
Mountain
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 949	$ 898
Mountain | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	4%	4.50%
New England
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 1,179	$ 1,076
New England | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	5%	5.40%
Pacific
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 4,175	$ 3,781
Pacific | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	17.80%	18.80%
South Atlantic
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 3,879	$ 2,756
South Atlantic | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	16.60%	13.70%
West North Central
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 194	$ 231
West North Central | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	0.80%	1.10%
West South Central
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 981	$ 1,085
West South Central | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	4.20%	5.40%
UNITED KINGDOM
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 2,200	$ 1,898
UNITED KINGDOM | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	9.40%	9.40%
Other
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 1,395	$ 1,350
Other | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	5.90%	6.70%
International
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 3,595	$ 3,248
International | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	15.30%	16.10%
Hotels
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 2,373	$ 1,855
Hotels | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	10.10%	9.20%
Retail
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 1,815	$ 1,454
Retail | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	7.70%	7.20%
Office building
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 4,325	$ 4,651
Office building | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	18.50%	23.10%
Industrial
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 2,565	$ 2,047
Industrial | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	10.90%	10.20%
Apartment
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 8,463	$ 6,692
Apartment | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	36.10%	33.30%
Other commercial
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans, net of allowances	$ 3,928	$ 3,409
Other commercial | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	16.70%	17%

Investments - Mortgage Loans, R

Investments - Mortgage Loans, Residential by State (Details) - Geographic Concentration Risk - Residential mortgage loans - Mortgage Loans, Net	Sep. 30, 2023	Dec. 31, 2022
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	100%	100%
California
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	27.90%	28.90%
Florida
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	11.80%	9.70%
NEW YORK
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	6.50%	5.60%
Other U.S. States
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	29.70%	27.40%
Total U.S. Region
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	91%	86.30%
UNITED KINGDOM
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	3.80%	5.40%
Other
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	5.20%	8.30%
International
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	9%	13.70%
NEW JERSEY
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	5.20%	5.30%
ARIZONA
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	4.30%	5.10%
TEXAS
Loans and Leases Receivable Disclosure [Line Items]
Percentage concentration risk	5.60%	4.30%

Investments - Investment Funds

Investments - Investment Funds (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 16,818	$ 14,128
Consolidated Entity, excluding Affiliated Entity
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 124	$ 79
Carrying Amount, Assets, Percent of Total	100%	100%
Variable Interest Entities
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 15,090	$ 12,480
Carrying Amount, Assets, Percent of Total	100%	100%
Related Party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 1,604	$ 1,569
Carrying Amount, Assets, Percent of Total	100%	100%
Other fund | Consolidated Entity, excluding Affiliated Entity
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 10	$ 1
Carrying Amount, Assets, Percent of Total	8.10%	1.30%
Other fund | Variable Interest Entities
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 699	$ 326
Carrying Amount, Assets, Percent of Total	4.60%	2.60%
Other fund | Related Party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 22	$ 25
Carrying Amount, Assets, Percent of Total	1.40%	1.60%
Hybrid Funds | Consolidated Entity, excluding Affiliated Entity
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 24	$ 32
Carrying Amount, Assets, Percent of Total	19.40%	40.50%
Hybrid Funds | Variable Interest Entities
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 3,771	$ 3,112
Carrying Amount, Assets, Percent of Total	25%	24.90%
Yield Fund | Variable Interest Entities
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 1,357	$ 1,044
Carrying Amount, Assets, Percent of Total	9%	8.40%
Yield Fund | Related Party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 6	$ 5
Carrying Amount, Assets, Percent of Total	0.40%	0.30%
Strategic Origination Platforms | Variable Interest Entities
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 5,322	$ 4,829
Carrying Amount, Assets, Percent of Total	35.30%	38.70%
Strategic Origination Platforms | Related Party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 45	$ 34
Carrying Amount, Assets, Percent of Total	2.80%	2.20%
Strategic Insurance Platforms | Variable Interest Entities
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 511	$ 529
Carrying Amount, Assets, Percent of Total	3.40%	4.20%
Strategic Insurance Platforms | Related Party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 1,287	$ 1,259
Carrying Amount, Assets, Percent of Total	80.20%	80.20%
Equity Funds | Consolidated Entity, excluding Affiliated Entity
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 90	$ 46
Carrying Amount, Assets, Percent of Total	72.50%	58.20%
Equity Funds | Variable Interest Entities
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 3,430	$ 2,640
Carrying Amount, Assets, Percent of Total	22.70%	21.20%
Equity Funds | Related Party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 244	$ 246
Carrying Amount, Assets, Percent of Total	15.20%	15.70%

Investments - Summary of Maximu

Investments - Summary of Maximum Loss Exposure (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Assets	$ 269,763	$ 243,931
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	87,007	74,432
Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Assets	73,307	61,578
Variable Interest Entity, Not Primary Beneficiary [Member] | Investment funds
Variable Interest Entity [Line Items]
Assets	15,090	12,480
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	21,270	20,278
Variable Interest Entity, Not Primary Beneficiary, Consolidated Entity Exclude Affiliated | Investment funds
Variable Interest Entity [Line Items]
Assets	124	79
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	593	340
Variable Interest Entity, Not Primary Beneficiary, Consolidated Entity Exclude Affiliated | AFS securities
Variable Interest Entity [Line Items]
Assets	42,685	37,454
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	46,101	40,992
Variable Interest Entity, Not Primary Beneficiary, Affiliated Entity | Investment funds
Variable Interest Entity [Line Items]
Assets	1,604	1,569
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	2,325	2,253
Variable Interest Entity, Not Primary Beneficiary, Affiliated Entity | AFS securities
Variable Interest Entity [Line Items]
Assets	13,500	9,717
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	16,414	10,290
Variable Interest Entity, Not Primary Beneficiary, Affiliated Entity | Equity securities
Variable Interest Entity [Line Items]
Assets	304	279
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	$ 304	$ 279

Investments - Repurchase Agreem

Investments - Repurchase Agreements (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Schedule of Repurchase Agreements [Line Items]
Payables for repurchase agreements	$ 4,512	$ 4,743
Amortized Cost	5,894	6,161
Fair Value	4,681	4,996
Less than 30 days
Schedule of Repurchase Agreements [Line Items]
Payables for repurchase agreements	533	608
30-90 days
Schedule of Repurchase Agreements [Line Items]
Payables for repurchase agreements	427	1,268
Greater than 1 year
Schedule of Repurchase Agreements [Line Items]
Payables for repurchase agreements	2,866	2,867
91 days to 1 year
Schedule of Repurchase Agreements [Line Items]
Payables for repurchase agreements	686	0
Available-for-sale Securities | Corporate
Schedule of Repurchase Agreements [Line Items]
Amortized Cost	2,899	1,940
Fair Value	2,285	1,605
Available-for-sale Securities | U.S. government and agencies
Schedule of Repurchase Agreements [Line Items]
Amortized Cost	1,353	2,559
Fair Value	962	1,941
Available-for-sale Securities | Collateralized Loan Obligations
Schedule of Repurchase Agreements [Line Items]
Amortized Cost	264	273
Fair Value	259	261
Available-for-sale Securities | Foreign governments
Schedule of Repurchase Agreements [Line Items]
Amortized Cost	152	146
Fair Value	101	107
Available-for-sale Securities | ABS
Schedule of Repurchase Agreements [Line Items]
Amortized Cost	1,226	1,243
Fair Value	$ 1,074	$ 1,082

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Amounts loaned under reverse repurchase agreements	$ 949	$ 1,640
Fair value of collateral	$ 1,447	$ 1,753

Investments - Concentration of

Investments - Concentration of Equity (Details) - Stockholders' Equity, Total - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
AT&T Inc.
Concentration Risk [Line Items]
Investments	$ 1,461
Wheels Donlen
Concentration Risk [Line Items]
Investments	1,454	$ 1,288
PK AirFinance
Concentration Risk [Line Items]
Investments	1,410	999
Athora
Concentration Risk [Line Items]
Investments	1,282	1,232
Atlas
Concentration Risk [Line Items]
Investments	1,007
Atlas – reverse repurchase agreement
Concentration Risk [Line Items]
Investments	922
AP Tundra
Concentration Risk [Line Items]
Investments	865	896
MFI Investments
Concentration Risk [Line Items]
Investments	$ 1,361	878
SoftBank Vision Fund II
Concentration Risk [Line Items]
Investments		789
MidCap
Concentration Risk [Line Items]
Investments		788
Cayman Universe
Concentration Risk [Line Items]
Investments		$ 756

Derivative Instruments - Summar

Derivative Instruments - Summary of Notional and Fair Value of Derivative Assets and Liabilities (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Derivative [Line Items]
Derivative assets, fair value	$ 4,571		$ 4,571		$ 3,309
Derivative liabilities, fair value	1,892		1,892		1,646
Total derivative liabilities	9,148		9,148		7,410
Derivative Asset, Including Embedded Derivatives	(1,382)		(1,382)		(2,963)
Derivatives designated as hedges
Derivative [Line Items]
Derivative assets, fair value	1,101		1,101		1,164
Derivative liabilities, fair value	$ 1,219		$ 1,219		$ 1,159
Derivatives designated as hedges | Foreign currency swaps
Derivative [Line Items]
Notional Amount	8,240		8,240		6,677
Derivative assets, fair value	$ 647		$ 647		$ 747
Derivative liabilities, fair value	$ 167		$ 167		$ 154
Derivatives designated as hedges | Interest rate swaps
Derivative [Line Items]
Notional Amount	10,031		10,031		9,332
Derivative assets, fair value	$ 14		$ 14		$ 9
Derivative liabilities, fair value	$ 203		$ 203		$ 150
Derivatives designated as hedges | Foreign currency forwards
Derivative [Line Items]
Notional Amount	6,381		6,381		6,283
Derivative assets, fair value	$ 437		$ 437		$ 406
Derivative liabilities, fair value	$ 40		$ 40		$ 52
Derivatives designated as hedges | Cross Currency Interest Rate Contract
Derivative [Line Items]
Notional Amount	4,468		4,468		4,468
Derivative assets, fair value	$ 0		$ 0		$ 0
Derivative liabilities, fair value	809		809		803
Derivatives not designated as hedges
Derivative [Line Items]
Total derivative liabilities	7,929		7,929		6,251
Derivative Asset, Including Embedded Derivatives	$ (2,483)		$ (2,483)		$ (4,127)
Derivatives not designated as hedges | Foreign currency swaps
Derivative [Line Items]
Notional Amount	4,549		4,549		3,563
Derivative assets, fair value	$ 278		$ 278		$ 251
Derivative liabilities, fair value	$ 108		$ 108		$ 112
Derivatives not designated as hedges | Interest rate swaps
Derivative [Line Items]
Notional Amount	482		482		488
Derivative assets, fair value	$ 79		$ 79		$ 74
Derivative liabilities, fair value	$ 0		$ 0		$ 0
Derivatives not designated as hedges | Equity options
Derivative [Line Items]
Notional Amount	71,579		71,579		65,089
Derivative assets, fair value	$ 2,530		$ 2,530		$ 1,374
Derivative liabilities, fair value	$ 101		$ 101		$ 114
Derivatives not designated as hedges | Futures
Derivative [Line Items]
Notional Amount	30		30		18
Derivative assets, fair value	$ 69		$ 69		$ 33
Derivative liabilities, fair value	$ 8		$ 8		$ 0
Derivatives not designated as hedges | Foreign currency forwards
Derivative [Line Items]
Notional Amount	22,322		22,322		16,376
Derivative assets, fair value	$ 514		$ 514		$ 413
Derivative liabilities, fair value	453		453		257
Derivatives not designated as hedges | Embedded derivatives | Funds withheld
Derivative [Line Items]
Embedded derivative assets, fair value	5,953		5,953		(6,272)
Embedded derivative liabilities, fair value	(89)		(89)		(77)
Derivatives not designated as hedges | Embedded derivatives | Interest sensitive contract liabilities
Derivative [Line Items]
Embedded derivative assets, fair value	0		0		0
Embedded derivative liabilities, fair value	$ 7,345		$ 7,345		$ 5,841
Derivatives not designated as hedges | Other swaps
Derivative [Line Items]
Notional Amount	180		180		89
Derivative assets, fair value	$ 0		$ 0		$ 0
Derivative liabilities, fair value	$ 3		$ 3		$ 4
Net Investment Hedging [Member] | Derivatives designated as hedges | Foreign currency forwards
Derivative [Line Items]
Notional Amount	219		219		216
Derivative assets, fair value	$ 3		$ 3		$ 2
Derivative liabilities, fair value	0		0		$ 0
Fair Value Hedging [Member] | Derivatives designated as hedges | Foreign currency swaps
Derivative [Line Items]
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net, Recorded in Other Comprehensive Income	(239)	$ 51	(182)	$ 60
Fair Value Hedging [Member] | Derivatives designated as hedges | Foreign currency swaps | Investment related gains (losses)
Derivative [Line Items]
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	161	256	59	589
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(166)	(283)	(57)	(630)
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss)	(5)	(27)	2	(41)
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach	0	0	0	0
Fair Value Hedging [Member] | Derivatives designated as hedges | Interest rate swaps | Investment related gains (losses)
Derivative [Line Items]
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	(74)	(268)	(92)	(345)
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	63	264	79	357
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss)	(11)	(4)	(13)	12
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach	0	0	0	0
Fair Value Hedging [Member] | Derivatives designated as hedges | Foreign currency forwards
Derivative [Line Items]
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net, Recorded in Other Comprehensive Income	(65)	(20)	(63)	(77)
Fair Value Hedging [Member] | Derivatives designated as hedges | Foreign currency forwards | Investment related gains (losses)
Derivative [Line Items]
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	5	0	12	1
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	179	288	74	616
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(187)	(290)	(77)	(648)
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss)	(8)	(2)	(3)	(32)
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach	21	18	66	48
Fair Value Hedging [Member] | Derivatives designated as hedges | Cross Currency Interest Rate Contract | Investment related gains (losses)
Derivative [Line Items]
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	(90)	(379)	(5)	(873)
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	95	384	15	879
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss)	5	5	10	6
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach	0	0	0	0
Fair Value Hedging [Member] | Derivatives designated as hedges | Cross Currency Interest Rate Contract | Interest sensitive contract benefits
Derivative [Line Items]
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	16	12	44	37
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(14)	(14)	(44)	(37)
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss)	2	(2)	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach	$ 0	$ 0	$ 0	$ 0

Derivative Instruments - Gains

Derivative Instruments - Gains (Losses) on Derivatives Not Designated as Hedging (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative [Line Items]
Total gains (losses) for derivatives not designated as hedges	$ (431)	$ (1,210)	$ (457)	$ (5,751)
Investment related gains (losses)
Derivative [Line Items]
Total gains (losses) for derivatives not designated as hedges	(1,682)	(1,736)	(180)	(8,830)
Investment related gains (losses) | Equity options
Derivative [Line Items]
Total gains (losses) for derivatives not designated as hedges	(951)	(449)	390	(2,728)
Investment related gains (losses) | Futures
Derivative [Line Items]
Total gains (losses) for derivatives not designated as hedges	(73)	(34)	22	(153)
Investment related gains (losses) | Swaps
Derivative [Line Items]
Total gains (losses) for derivatives not designated as hedges	(24)	132	38	121
Investment related gains (losses) | Foreign currency forwards
Derivative [Line Items]
Total gains (losses) for derivatives not designated as hedges	146	454	(191)	971
Investment related gains (losses) | Embedded derivatives
Derivative [Line Items]
Total gains (losses) for derivatives not designated as hedges	(780)	(1,839)	(439)	(7,041)
Interest sensitive contract benefits | Embedded derivatives
Derivative [Line Items]
Total gains (losses) for derivatives not designated as hedges	1,251	526	(277)	3,079
Fair Value Hedging [Member] | Derivatives designated as hedges | Investment related gains (losses) | Foreign currency swaps
Derivative [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	161	256	59	589
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(166)	(283)	(57)	(630)
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss)	(5)	(27)	2	(41)
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Fair Value Hedging [Member] | Derivatives designated as hedges | Investment related gains (losses) | Interest rate swaps
Derivative [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	(74)	(268)	(92)	(345)
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	63	264	79	357
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss)	(11)	(4)	(13)	12
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Fair Value Hedging [Member] | Derivatives designated as hedges | Investment related gains (losses) | Foreign currency forwards
Derivative [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	179	288	74	616
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(187)	(290)	(77)	(648)
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss)	(8)	(2)	(3)	(32)
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach	21	18	66	48
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	5	0	12	1
Fair Value Hedging [Member] | Derivatives designated as hedges | Investment related gains (losses) | Cross Currency Interest Rate Contract
Derivative [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	(90)	(379)	(5)	(873)
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	95	384	15	879
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss)	5	5	10	6
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Fair Value Hedging [Member] | Derivatives designated as hedges | Interest sensitive contract benefits | Cross Currency Interest Rate Contract
Derivative [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	16	12	44	37
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(14)	(14)	(44)	(37)
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss)	2	(2)	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	$ 0	$ 0	$ 0	$ 0

Derivative Instruments - Offset

Derivative Instruments - Offsetting Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Derivative assets
Gross amount recognized	$ 4,571	$ 3,309
Financial instruments	(1,665)	(1,477)
Collateral (received)/pledged	(3,140)	(1,952)
Net amount	(234)	(120)
Off-balance sheet securities collateral	0	0
Net amount after securities collateral	(234)	(120)
Derivative liabilities
Gross amount recognized	(1,892)	(1,646)
Financial instruments	1,665	1,477
Collateral (received)/pledged	655	478
Net amount	428	309
Off-balance sheet securities collateral	0	0
Net amount after securities collateral	428	309
Derivatives designated as hedges
Derivative assets
Gross amount recognized	1,101	1,164
Derivative liabilities
Gross amount recognized	(1,219)	(1,159)
Foreign currency forwards | Derivatives designated as hedges
Derivative assets
Gross amount recognized	437	406
Derivative liabilities
Gross amount recognized	(40)	(52)
Foreign currency swaps | Derivatives designated as hedges
Derivative assets
Gross amount recognized	647	747
Derivative liabilities
Gross amount recognized	(167)	(154)
Cross Currency Interest Rate Contract | Derivatives designated as hedges
Derivative assets
Gross amount recognized	0	0
Derivative liabilities
Gross amount recognized	(809)	(803)
Interest rate swaps | Derivatives designated as hedges
Derivative assets
Gross amount recognized	14	9
Derivative liabilities
Gross amount recognized	(203)	(150)
Interest sensitive contract liabilities | Foreign currency swaps | Fair Value Hedging [Member] | Derivatives designated as hedges
Derivative [Line Items]
Derivative, Amount of Hedged Item	1,369	1,081
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)	90	88
Interest sensitive contract liabilities | Cross Currency Interest Rate Contract | Fair Value Hedging [Member] | Derivatives designated as hedges
Derivative [Line Items]
Derivative, Amount of Hedged Item	3,724	4,348
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)	647	632
Interest sensitive contract liabilities | Interest rate swaps | Fair Value Hedging [Member] | Derivatives designated as hedges
Derivative [Line Items]
Derivative, Amount of Hedged Item	6,711	6,577
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)	386	323
AFS securities | Foreign currency forwards | Fair Value Hedging [Member] | Derivatives designated as hedges
Derivative [Line Items]
Derivative, Amount of Hedged Item	5,372	5,259
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)	(245)	(217)
AFS securities | Foreign currency swaps | Fair Value Hedging [Member] | Derivatives designated as hedges
Derivative [Line Items]
Derivative, Amount of Hedged Item	5,448	4,797
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)	$ (452)	$ (398)

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($)	3 Months Ended			6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Derivative [Line Items]
Other Comprehensive Income (Loss), before Tax	$ (2,326,000,000)	$ (3,677,000,000)	$ (2,869,000,000)	$ (7,344,000,000)	$ (933,000,000)	$ (11,021,000,000)	$ (9,390,000,000)
Derivatives used in Net Investment Hedge, Net of Tax	35,000,000				35,000,000		30,000,000
Amount of Ineffectiveness on Net Investment Hedges	0	0			0	0
Cash flow hedges | Derivatives designated as hedges | Foreign currency swaps
Derivative [Line Items]
Gain (Loss) on Foreign Currency Cash Flow Hedge Ineffectiveness	0	0			0	0
Cash flow hedges | Derivatives designated as hedges | Interest rate swaps
Derivative [Line Items]
Foreign currency swap gains (losses)	91,000,000	(111,000,000)			(35,000,000)	(111,000,000)
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months					0
Fair Value Hedging [Member] | Derivatives designated as hedges | Foreign currency swaps
Derivative [Line Items]
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net, Recorded in Other Comprehensive Income	(239,000,000)	51,000,000			(182,000,000)	60,000,000
Fair Value Hedging [Member] | Derivatives designated as hedges | Foreign currency swaps | Investment related gains (losses)
Derivative [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	161,000,000	256,000,000			59,000,000	589,000,000
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(166,000,000)	(283,000,000)			(57,000,000)	(630,000,000)
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss)	(5,000,000)	(27,000,000)			2,000,000	(41,000,000)
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0			0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach	0	0			0	0
Fair Value Hedging [Member] | Derivatives designated as hedges | Foreign currency swaps | Interest sensitive contract liabilities
Derivative [Line Items]
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)	90,000,000				90,000,000		88,000,000
Fair Value Hedging [Member] | Derivatives designated as hedges | Interest rate swaps | Investment related gains (losses)
Derivative [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	(74,000,000)	(268,000,000)			(92,000,000)	(345,000,000)
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	63,000,000	264,000,000			79,000,000	357,000,000
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss)	(11,000,000)	(4,000,000)			(13,000,000)	12,000,000
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0			0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach	0	0			0	0
Fair Value Hedging [Member] | Derivatives designated as hedges | Interest rate swaps | Interest sensitive contract liabilities
Derivative [Line Items]
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)	386,000,000				386,000,000		323,000,000
Fair Value Hedging [Member] | Derivatives designated as hedges | Foreign currency forwards
Derivative [Line Items]
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net, Recorded in Other Comprehensive Income	(65,000,000)	(20,000,000)			(63,000,000)	(77,000,000)
Fair Value Hedging [Member] | Derivatives designated as hedges | Foreign currency forwards | Investment related gains (losses)
Derivative [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	179,000,000	288,000,000			74,000,000	616,000,000
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(187,000,000)	(290,000,000)			(77,000,000)	(648,000,000)
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss)	(8,000,000)	(2,000,000)			(3,000,000)	(32,000,000)
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	5,000,000	0			12,000,000	1,000,000
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach	21,000,000	18,000,000			66,000,000	48,000,000
Fair Value Hedging [Member] | Derivatives designated as hedges | Net Investment Hedging [Member]
Derivative [Line Items]
Other Comprehensive Income (Loss), before Tax	13,000,000	22,000,000			5,000,000	47,000,000
Fair Value Hedging [Member] | Derivatives designated as hedges | Cross Currency Interest Rate Contract | Investment related gains (losses)
Derivative [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	(90,000,000)	(379,000,000)			(5,000,000)	(873,000,000)
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	95,000,000	384,000,000			15,000,000	879,000,000
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss)	5,000,000	5,000,000			10,000,000	6,000,000
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0			0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach	0	0			0	0
Fair Value Hedging [Member] | Derivatives designated as hedges | Cross Currency Interest Rate Contract | Interest sensitive contract benefits
Derivative [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	16,000,000	12,000,000			44,000,000	37,000,000
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(14,000,000)	(14,000,000)			(44,000,000)	(37,000,000)
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss)	2,000,000	(2,000,000)			0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0			0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach	0	$ 0			0	$ 0
Fair Value Hedging [Member] | Derivatives designated as hedges | Cross Currency Interest Rate Contract | Interest sensitive contract liabilities
Derivative [Line Items]
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)	$ 647,000,000				$ 647,000,000		$ 632,000,000

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Variable Interest Entity [Line Items]
Investment revenue	$ (3,214)	$ (2,045)		$ (8,811)	$ (5,834)
Net Investment Income	2,928	1,843		8,052	5,252
Investment related gains (losses)	(2,624)	(2,848)	$ (4,212)	(1,193)	(12,811)
Other gains	343	808		355	1,615
Mortgage loans
Variable Interest Entity [Line Items]
Investment related gains (losses)	(911)	(1,199)		(838)	(3,094)
Mortgage loans
Variable Interest Entity [Line Items]
Investment revenue	(642)	(336)		(1,632)	(870)
Investment funds
Variable Interest Entity [Line Items]
Investment expenses	(13)	(35)		59	373
Other
Variable Interest Entity [Line Items]
Investment revenue	(214)	(75)		(623)	(165)
Trading securities
Variable Interest Entity [Line Items]
Investment revenue	(49)	(41)		(135)	(153)
Equity securities
Variable Interest Entity [Line Items]
Investment revenue	(14)	(17)		(54)	(41)
Variable Interest Entities
Variable Interest Entity [Line Items]
Net Investment Income	75	33		210	80
Investment related gains (losses)	250	79		744	59
Other gains	(1)	(16)		(29)	5
Variable Interest Entities | Mortgage loans
Variable Interest Entity [Line Items]
Investment related gains (losses)	(25)	(103)		(45)	(262)
Variable Interest Entities | Investment funds
Variable Interest Entity [Line Items]
Investment related gains (losses)	292	236		833	354
Variable Interest Entities | Mortgage loans
Variable Interest Entity [Line Items]
Investment revenue	(29)	(22)		(83)	(65)
Variable Interest Entities | Investment funds
Variable Interest Entity [Line Items]
Investment expenses	20	4		55	(5)
Variable Interest Entities | Other
Variable Interest Entity [Line Items]
Investment expenses	(2)	(16)		(7)	(3)
Variable Interest Entities | Trading securities
Variable Interest Entity [Line Items]
Investment revenue	(28)	(10)		(79)	(10)
Investment related gains (losses)	(16)	(38)		(15)	(38)
Variable Interest Entities | Equity securities
Variable Interest Entity [Line Items]
Investment revenue	$ 0	$ (13)		$ 0	$ (13)

Fair Value - Assets and Liabili

Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Assets
Available-for-sale securities	$ 129,700	$ 112,225
Investment funds	16,818	14,128
Derivative assets	4,571	3,309
Restricted cash	1,218	628
Reinsurance recoverable	4,058	4,358
Other assets (related party: 2023 – $184 and 2022 – $161)	8,628	8,693
Liabilities
Interest sensitive contract liabilities	189,065	173,616	$ 166,878
Future policy benefits	46,672	42,110	41,285
Market risk benefits	3,021	2,970	$ 2,791
Derivative liabilities	1,892	1,646
Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	115,715	102,404
Trading securities, at fair value	1,592	1,595
Mortgage loans	37,978	27,454
Investment funds	124	79
Funds withheld at interest	(25,953)	(32,880)
Derivative assets	4,571	3,309
Short-term investments	527	2,160
Other investments	947	773
Related Party
Assets
Available-for-sale securities	13,985	9,821
Trading securities, at fair value	871	878
Equity securities, at fair value	304	279
Mortgage loans	1,234	1,302
Investment funds	1,604	1,569
Funds withheld at interest	(6,620)	(9,808)
Short-term investments	949	0
Other investments	327	303
Other assets (related party: 2023 – $184 and 2022 – $161)	184	161
Liabilities
Interest sensitive contract liabilities	9,055	11,889
Future policy benefits	3	1,353
Market risk benefits	183	195
Variable Interest Entities
Assets
Trading securities, at fair value	2,133	1,063
Mortgage loans	2,042	2,055
Investment funds	15,090	12,480
Other investments	94	101
Other assets (related party: 2023 – $184 and 2022 – $161)	99	112
U.S. government and agencies | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	4,260	2,577
US state, municipal and political subdivisions | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	962	927
Foreign governments | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	915	907
Corporate | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	67,301	60,901
Corporate | Related Party
Assets
Available-for-sale securities	1,356	982
CLO | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	18,926	16,493
CLO | Related Party
Assets
Available-for-sale securities	4,235	3,079
ABS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	10,807	10,527
ABS | Related Party
Assets
Available-for-sale securities	8,394	5,760
CMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	5,496	4,158
RMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	7,048	5,914
Level 3
Assets
Mortgage loans	41,254	30,811
Recurring | Level 1
Assets
Cash and cash equivalents	9,996	7,779
Restricted cash	1,218	628
Reinsurance recoverable	0
Other assets (related party: 2023 – $184 and 2022 – $161)	0
Total assets measured at fair value	16,000	11,588
Liabilities
Market risk benefits	0	0
Derivative liabilities	43	38
Other liabilities		0
Total liabilities measured at fair value	43	38
Recurring | Level 1 | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	4,262	2,570
Trading securities, at fair value	22	23
Equity securities, at fair value	198	150
Mortgage loans	0	0
Derivative assets	93	42
Short-term investments	0	29
Other investments	0	0
Recurring | Level 1 | Related Party
Assets
Available-for-sale securities	0	0
Trading securities, at fair value	0	0
Equity securities, at fair value	59	0
Mortgage loans	0	0
Investment funds	0	0
Other investments	0	0
Reinsurance recoverable		0
Recurring | Level 1 | Variable Interest Entities
Assets
Trading securities, at fair value	0	5
Mortgage loans	0	0
Investment funds	0	0
Other investments	0	0
Cash and cash equivalents	152	362
Recurring | Level 1 | Related Party
Assets
Other assets (related party: 2023 – $184 and 2022 – $161)		0
Recurring | Level 1 | Universal life
Liabilities
Interest sensitive contract liabilities	0	0
Recurring | Level 1 | AmerUs Closed Block
Liabilities
Future policy benefits	0	0
Recurring | Level 1 | ILICO Closed Block and life benefits
Liabilities
Future policy benefits	0	0
Recurring | Level 1 | Embedded derivatives
Liabilities
Interest sensitive contract liabilities	0	0
Recurring | Level 1 | Embedded derivatives | Consolidated Entity, excluding Affiliated Entity
Assets
Funds withheld at interest		0
Recurring | Level 1 | Embedded derivatives | Related Party
Assets
Funds withheld at interest		0
Recurring | Level 1 | U.S. government and agencies | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	4,253	2,570
Recurring | Level 1 | US state, municipal and political subdivisions | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Recurring | Level 1 | Foreign governments | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Recurring | Level 1 | Corporate | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	9	0
Recurring | Level 1 | Corporate | Related Party
Assets
Available-for-sale securities	0	0
Recurring | Level 1 | CLO | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Recurring | Level 1 | CLO | Related Party
Assets
Available-for-sale securities	0	0
Recurring | Level 1 | ABS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Recurring | Level 1 | ABS | Related Party
Assets
Available-for-sale securities	0	0
Recurring | Level 1 | CMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Recurring | Level 1 | RMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Recurring | Level 2
Assets
Cash and cash equivalents	0	0
Restricted cash	0	0
Reinsurance recoverable	0
Other assets (related party: 2023 – $184 and 2022 – $161)	0
Total assets measured at fair value	116,203	102,927
Liabilities
Market risk benefits	0	0
Derivative liabilities	1,848	1,607
Other liabilities	(89)	(77)
Total liabilities measured at fair value	1,759	1,530
Recurring | Level 2 | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	104,125	93,069
Trading securities, at fair value	1,538	1,519
Equity securities, at fair value	644	845
Mortgage loans	0	0
Derivative assets	4,478	3,267
Short-term investments	398	455
Other investments	286	170
Recurring | Level 2 | Related Party
Assets
Available-for-sale securities	4,457	3,164
Trading securities, at fair value	0	0
Equity securities, at fair value	0	0
Mortgage loans	0	0
Investment funds	0	0
Other investments	0	0
Reinsurance recoverable		0
Recurring | Level 2 | Variable Interest Entities
Assets
Trading securities, at fair value	275	436
Mortgage loans	0	0
Investment funds	0	0
Other investments	2	2
Cash and cash equivalents	0	0
Recurring | Level 2 | Related Party
Assets
Other assets (related party: 2023 – $184 and 2022 – $161)		0
Recurring | Level 2 | Universal life
Liabilities
Interest sensitive contract liabilities	0	0
Recurring | Level 2 | AmerUs Closed Block
Liabilities
Future policy benefits	0	0
Recurring | Level 2 | ILICO Closed Block and life benefits
Liabilities
Future policy benefits	0	0
Recurring | Level 2 | Embedded derivatives
Liabilities
Interest sensitive contract liabilities	0	0
Recurring | Level 2 | Embedded derivatives | Consolidated Entity, excluding Affiliated Entity
Assets
Funds withheld at interest		0
Recurring | Level 2 | Embedded derivatives | Related Party
Assets
Funds withheld at interest		0
Recurring | Level 2 | U.S. government and agencies | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	7	7
Recurring | Level 2 | US state, municipal and political subdivisions | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	962	927
Recurring | Level 2 | Foreign governments | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	869	906
Recurring | Level 2 | Corporate | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	64,911	59,236
Recurring | Level 2 | Corporate | Related Party
Assets
Available-for-sale securities	170	170
Recurring | Level 2 | CLO | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	18,926	16,493
Recurring | Level 2 | CLO | Related Party
Assets
Available-for-sale securities	3,732	2,776
Recurring | Level 2 | ABS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	6,181	5,660
Recurring | Level 2 | ABS | Related Party
Assets
Available-for-sale securities	555	218
Recurring | Level 2 | CMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	5,484	4,158
Recurring | Level 2 | RMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	6,785	5,682
Recurring | Level 3
Assets
Cash and cash equivalents	0	0
Restricted cash	0	0
Reinsurance recoverable	1,301
Other assets (related party: 2023 – $184 and 2022 – $161)	431
Total assets measured at fair value	60,439	46,063
Liabilities
Market risk benefits	3,021	2,970
Derivative liabilities	1	1
Other liabilities	213	142
Total liabilities measured at fair value	12,970	11,495
Recurring | Level 3 | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	7,328	6,765
Trading securities, at fair value	32	53
Equity securities, at fair value	74	92
Mortgage loans	37,978	27,454
Derivative assets	0	0
Short-term investments	129	36
Other investments	477	441
Recurring | Level 3 | Related Party
Assets
Available-for-sale securities	9,528	6,657
Trading securities, at fair value	871	878
Equity securities, at fair value	245	279
Mortgage loans	1,234	1,302
Investment funds	1,043	959
Other investments	327	303
Reinsurance recoverable		1,388
Recurring | Level 3 | Variable Interest Entities
Assets
Trading securities, at fair value	1,858	622
Mortgage loans	2,042	2,055
Investment funds	1,402	2,471
Other investments	92	99
Cash and cash equivalents	0	0
Recurring | Level 3 | Related Party
Assets
Other assets (related party: 2023 – $184 and 2022 – $161)		481
Recurring | Level 3 | Universal life
Liabilities
Interest sensitive contract liabilities	739	829
Recurring | Level 3 | AmerUs Closed Block
Liabilities
Future policy benefits	1,100	1,164
Recurring | Level 3 | ILICO Closed Block and life benefits
Liabilities
Future policy benefits	551	548
Recurring | Level 3 | Embedded derivatives
Liabilities
Interest sensitive contract liabilities	7,345	5,841
Recurring | Level 3 | Embedded derivatives | Consolidated Entity, excluding Affiliated Entity
Assets
Funds withheld at interest		4,847
Recurring | Level 3 | Embedded derivatives | Related Party
Assets
Funds withheld at interest		(1,425)
Recurring | Level 3 | U.S. government and agencies | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Recurring | Level 3 | US state, municipal and political subdivisions | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Recurring | Level 3 | Foreign governments | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	46	1
Recurring | Level 3 | Corporate | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	2,381	1,665
Recurring | Level 3 | Corporate | Related Party
Assets
Available-for-sale securities	1,186	812
Recurring | Level 3 | CLO | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Recurring | Level 3 | CLO | Related Party
Assets
Available-for-sale securities	503	303
Recurring | Level 3 | ABS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	4,626	4,867
Recurring | Level 3 | ABS | Related Party
Assets
Available-for-sale securities	7,839	5,542
Recurring | Level 3 | CMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	12	0
Recurring | Level 3 | RMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	263	232
Recurring | NAV
Assets
Cash and cash equivalents	0	0
Restricted cash	0	0
Reinsurance recoverable	0
Other assets (related party: 2023 – $184 and 2022 – $161)	0
Total assets measured at fair value	13,688	10,009
Liabilities
Market risk benefits	0	0
Derivative liabilities	0	0
Other liabilities		0
Total liabilities measured at fair value	0	0
Recurring | NAV | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Trading securities, at fair value	0	0
Equity securities, at fair value	0	0
Mortgage loans	0	0
Derivative assets	0	0
Short-term investments	0	0
Other investments	0	0
Recurring | NAV | Related Party
Assets
Available-for-sale securities	0	0
Trading securities, at fair value	0	0
Equity securities, at fair value	0	0
Mortgage loans	0	0
Investment funds	0	0
Other investments	0	0
Reinsurance recoverable		0
Recurring | NAV | Variable Interest Entities
Assets
Trading securities, at fair value	0	0
Mortgage loans	0	0
Investment funds	13,688	10,009
Other investments	0	0
Cash and cash equivalents	0	0
Recurring | NAV | Related Party
Assets
Other assets (related party: 2023 – $184 and 2022 – $161)		0
Recurring | NAV | Universal life
Liabilities
Interest sensitive contract liabilities	0	0
Recurring | NAV | AmerUs Closed Block
Liabilities
Future policy benefits	0	0
Recurring | NAV | ILICO Closed Block and life benefits
Liabilities
Future policy benefits	0	0
Recurring | NAV | Embedded derivatives
Liabilities
Interest sensitive contract liabilities	0	0
Recurring | NAV | Embedded derivatives | Consolidated Entity, excluding Affiliated Entity
Assets
Funds withheld at interest		0
Recurring | NAV | Embedded derivatives | Related Party
Assets
Funds withheld at interest		0
Recurring | NAV | U.S. government and agencies | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Recurring | NAV | US state, municipal and political subdivisions | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Recurring | NAV | Foreign governments | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Recurring | NAV | Corporate | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Recurring | NAV | Corporate | Related Party
Assets
Available-for-sale securities	0	0
Recurring | NAV | CLO | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Recurring | NAV | CLO | Related Party
Assets
Available-for-sale securities	0	0
Recurring | NAV | ABS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Recurring | NAV | ABS | Related Party
Assets
Available-for-sale securities	0	0
Recurring | NAV | CMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Recurring | NAV | RMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Fair Value
Assets
Short-term investments		1,640
Total assets measured at fair value	40,541	51,798
Liabilities
Interest sensitive contract liabilities	126,779	111,608
Fair Value | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	124	79
Funds withheld at interest	(30,934)	(37,727)
Other investments	45	162
Fair Value | Related Party
Assets
Investment funds	561	610
Funds withheld at interest	(7,592)	(11,233)
Short-term investments	949
Fair Value | Level 1
Assets
Short-term investments		0
Total assets measured at fair value	0	0
Liabilities
Interest sensitive contract liabilities	0	0
Fair Value | Level 1 | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	0	0
Funds withheld at interest	0	0
Other investments	0	0
Fair Value | Level 1 | Related Party
Assets
Investment funds	0	0
Funds withheld at interest	0	0
Short-term investments	0
Fair Value | Level 2
Assets
Short-term investments		1,614
Total assets measured at fair value	1,285	1,961
Liabilities
Interest sensitive contract liabilities	0	0
Fair Value | Level 2 | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	0	0
Funds withheld at interest	0	0
Other investments	0	0
Fair Value | Level 2 | Related Party
Assets
Investment funds	0	0
Funds withheld at interest	0	0
Short-term investments	949
Fair Value | Level 3
Assets
Short-term investments		26
Total assets measured at fair value	38,571	49,148
Liabilities
Interest sensitive contract liabilities	126,779	111,608
Fair Value | Level 3 | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	0	0
Funds withheld at interest	(30,934)	(37,727)
Other investments	45	162
Fair Value | Level 3 | Related Party
Assets
Investment funds	0	0
Funds withheld at interest	(7,592)	(11,233)
Short-term investments	0
Fair Value | NAV
Assets
Total assets measured at fair value	685	689
Liabilities
Interest sensitive contract liabilities	0	0
Fair Value | NAV | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	124	79
Funds withheld at interest	0	0
Short-term investments		0
Other investments	0	0
Fair Value | NAV | Related Party
Assets
Investment funds	561	610
Funds withheld at interest	0	0
Short-term investments	0
Fair Value | Recurring
Assets
Cash and cash equivalents	9,996	7,779
Restricted cash	1,218	628
Reinsurance recoverable	1,301	1,388
Other assets (related party: 2023 – $184 and 2022 – $161)	431
Total assets measured at fair value	206,330	170,587
Liabilities
Interest sensitive contract liabilities	8,084	6,670
Future policy benefits	1,651	1,712
Market risk benefits	3,021	2,970
Derivative liabilities	1,892	1,646
Other liabilities		65
Total liabilities measured at fair value	14,772	13,063
Fair Value | Recurring | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	115,715	102,404
Trading securities, at fair value	1,592	1,595
Equity securities, at fair value	916	1,087
Mortgage loans	37,978	27,454
Embedded derivative assets, fair value	(4,981)	(4,847)
Derivative assets	4,571	3,309
Short-term investments	527	520
Other investments	763	611
Fair Value | Recurring | Related Party
Assets
Available-for-sale securities	13,985	9,821
Trading securities, at fair value	871	878
Equity securities, at fair value	304	279
Mortgage loans	1,234	1,302
Investment funds	1,043	959
Embedded derivative assets, fair value	(972)	(1,425)
Other investments	327	303
Reinsurance recoverable		1,388
Fair Value | Recurring | Variable Interest Entities
Assets
Trading securities, at fair value	2,133	1,063
Mortgage loans	2,042	2,055
Investment funds	15,090	12,480
Other investments	94	101
Cash and cash equivalents	152	362
Fair Value | Recurring | Related Party
Assets
Other assets (related party: 2023 – $184 and 2022 – $161)		481
Fair Value | Recurring | Universal life
Liabilities
Interest sensitive contract liabilities	739	829
Fair Value | Recurring | AmerUs Closed Block
Liabilities
Future policy benefits	1,100	1,164
Fair Value | Recurring | ILICO Closed Block and life benefits
Liabilities
Future policy benefits	551	548
Fair Value | Recurring | Embedded derivatives
Liabilities
Interest sensitive contract liabilities	7,345	5,841
Fair Value | Recurring | Embedded derivatives | Consolidated Entity, excluding Affiliated Entity
Assets
Funds withheld at interest		4,847
Fair Value | Recurring | Embedded derivatives | Related Party
Assets
Funds withheld at interest		(1,425)
Fair Value | Recurring | U.S. government and agencies | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	4,260	2,577
Fair Value | Recurring | US state, municipal and political subdivisions | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	962	927
Fair Value | Recurring | Foreign governments | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	915	907
Fair Value | Recurring | Corporate | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	67,301	60,901
Fair Value | Recurring | Corporate | Related Party
Assets
Available-for-sale securities	1,356	982
Fair Value | Recurring | CLO | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	18,926	16,493
Fair Value | Recurring | CLO | Related Party
Assets
Available-for-sale securities	4,235	3,079
Fair Value | Recurring | ABS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	10,807	10,527
Fair Value | Recurring | ABS | Related Party
Assets
Available-for-sale securities	8,394	5,760
Fair Value | Recurring | CMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	5,496	4,158
Fair Value | Recurring | RMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	7,048	$ 5,914
Funds withheld at interest | Recurring | Level 1
Liabilities
Other liabilities	0
Funds withheld at interest | Recurring | Level 1 | Embedded derivatives | Consolidated Entity, excluding Affiliated Entity
Assets
Embedded derivative assets, fair value	0
Funds withheld at interest | Recurring | Level 1 | Embedded derivatives | Related Party
Assets
Embedded derivative assets, fair value	0
Funds withheld at interest | Recurring | Level 2 | Embedded derivatives | Consolidated Entity, excluding Affiliated Entity
Assets
Embedded derivative assets, fair value	0
Funds withheld at interest | Recurring | Level 2 | Embedded derivatives | Related Party
Assets
Embedded derivative assets, fair value	0
Funds withheld at interest | Recurring | Level 3 | Embedded derivatives | Consolidated Entity, excluding Affiliated Entity
Assets
Embedded derivative assets, fair value	(4,981)
Funds withheld at interest | Recurring | Level 3 | Embedded derivatives | Related Party
Assets
Embedded derivative assets, fair value	(972)
Funds withheld at interest | Recurring | NAV
Liabilities
Other liabilities	0
Funds withheld at interest | Recurring | NAV | Embedded derivatives | Consolidated Entity, excluding Affiliated Entity
Assets
Embedded derivative assets, fair value	0
Funds withheld at interest | Recurring | NAV | Embedded derivatives | Related Party
Assets
Embedded derivative assets, fair value	0
Funds withheld at interest | Fair Value | Recurring
Liabilities
Other liabilities	124
Funds withheld at interest | Fair Value | Recurring | Embedded derivatives | Consolidated Entity, excluding Affiliated Entity
Assets
Embedded derivative assets, fair value	(4,981)
Funds withheld at interest | Fair Value | Recurring | Embedded derivatives | Related Party
Assets
Embedded derivative assets, fair value	$ (972)

Fair Value - Fair Value Option

Fair Value - Fair Value Option (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Fair Value, Option, Quantitative Disclosures [Line Items]
Total gains (losses)	$ (1,132)	$ (1,357)	$ (996)	$ (3,461)
Mortgage loans
Fair Value, Option, Quantitative Disclosures [Line Items]
Total gains (losses)	(984)	(1,279)	(909)	(3,344)
Unpaid principal balance	45,170		45,170		$ 33,653
Mark to fair value	(3,916)		(3,916)		(2,842)
Fair value	41,254		41,254		30,811
Fair Value, Option, Credit Risk, Gains (Losses) on Assets	(20)	18	(31)	(34)
Future policy benefits
Fair Value, Option, Quantitative Disclosures [Line Items]
Total gains (losses)	(4)	0	(71)	0
Residential mortgage loans
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option, loans, 90 days or more past due	438		438		472
Fair Value, Option, Loans Held as Assets, Aggregate Amount in Nonaccrual Status	312		312		360
Unpaid principal balance	495		495		522
Fair value	438		438		472
Fair Value, Option, Loans Held as Assets, Aggregate Difference	(57)		(57)		(50)
Residential mortgage loans | Loans Insured or Guaranteed by US Government Authorities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option, loans, 90 days or more past due	126		126		221
Mortgage loans
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option, loans, 90 days or more past due	40		40		2
Fair Value, Option, Loans Held as Assets, Aggregate Amount in Nonaccrual Status	59		59		19
Unpaid principal balance	161		161		74
Fair value	99		99		19
Fair Value, Option, Loans Held as Assets, Aggregate Difference	(62)		(62)		$ (55)
Investment related gains (losses) | Trading securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Total gains (losses)	(137)	(121)	(105)	(489)
Net investment income | Investment funds
Fair Value, Option, Quantitative Disclosures [Line Items]
Total gains (losses)	(66)	(47)	25	9
Future policy and other policy benefits | Future policy benefits
Fair Value, Option, Quantitative Disclosures [Line Items]
Total gains (losses)	$ 59	$ 90	$ 64	$ 363

Fair Value - Reconciliation of

Fair Value - Reconciliation of Level 3 Financial Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Assets
Beginning balance	$ 56,969	$ 39,688	$ 45,582	$ 45,752
Total realized and unrealized gains (losses) included in income	(1,537)	(3,205)	(681)	(10,718)
Total realized and unrealized gains (losses) included in OCI	(27)	(213)	(5)	(551)
Purchases, issuances, sales and settlements, net	4,539	4,338	16,081	8,516
Transfers in	64	226	(969)	(2,165)
Transfers (out)	819	1,086	4,077	20,879
Ending balance	60,008	40,834	60,008	40,834
Total gains (losses) included in earnings1	(1,100)	(1,334)	(927)	(3,343)
Total gains (losses) included in OCI1	(42)	(217)	(31)	(473)
Liabilities
Beginning balance	(10,992)	(7,990)	(8,525)	(10,908)
Total realized and unrealized gains (losses) included in income	1,441	718	(197)	3,957
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	398	348	1,227	669
Transfers in	0	0	0	0
Transfers (out)	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	883	1,312	3,108	18,714
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3	0	0	0	0
Ending balance	(9,949)	(7,620)	(9,949)	(7,620)
Total gains (losses) included in earnings1	0	0	0	0
Total gains (losses) included in OCI1	0	0	0	0
Reinsurance recoverable
Assets
Beginning balance	1,436	1,580	1,388	1,991
Total realized and unrealized gains (losses) included in income	(135)	(104)	(87)	(515)
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	0	0	0	0
Transfers in	0	0	0	0
Ending balance	1,301	1,476	1,301	1,476
Total gains (losses) included in earnings1	0	0	0	0
Total gains (losses) included in OCI1	0	0	0	0
Short-term investments | Consolidated Entity, excluding Affiliated Entity
Assets
Beginning balance	30	58	36	0
Total realized and unrealized gains (losses) included in income	0	0	0	(5,259)
Total realized and unrealized gains (losses) included in OCI	(1)	0	(3)	0
Purchases, issuances, sales and settlements, net	100	(23)	70	0
Transfers in	0	0	26	0
Ending balance	129	35	129	35
Total gains (losses) included in earnings1	0	0	0	0
Total gains (losses) included in OCI1	(1)	0	(1)	0
Short-term investments | Related Party
Assets
Beginning balance				0
Total realized and unrealized gains (losses) included in income				0
Total realized and unrealized gains (losses) included in OCI				0
Purchases, issuances, sales and settlements, net				53
Transfers in				(53)
Transfers (out)				53
Ending balance		0		0
Total gains (losses) included in earnings1				0
Total gains (losses) included in OCI1				0
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3				0
Short-term investments | Investments, excluding investments in Related Party
Assets
Purchases, issuances, sales and settlements, net	100	(23)
Transfers in	0	0
Transfers (out)	0	0
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	0
Equity securities | Consolidated Entity, excluding Affiliated Entity
Assets
Beginning balance	67	62	92	429
Total realized and unrealized gains (losses) included in income	7	10	(5)	27
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	0	0	0	(3)
Transfers in	0	0	(13)	(381)
Ending balance	74	72	74	72
Total gains (losses) included in earnings1	7	11	(5)	25
Total gains (losses) included in OCI1	0	0	0	0
Equity securities | Related Party
Assets
Beginning balance	252	163	279	284
Total realized and unrealized gains (losses) included in income	(7)	(18)	(2)	(32)
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	0	195	(32)	76
Transfers in	0	0	0	12
Transfers (out)		0	0	113
Ending balance	245	340	245	340
Total gains (losses) included in earnings1	(7)	(18)	(3)	(27)
Total gains (losses) included in OCI1	0	0	0	0
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3		0	0	125
Equity securities | Variable Interest Entities
Assets
Beginning balance		0		0
Total realized and unrealized gains (losses) included in income		0		0
Total realized and unrealized gains (losses) included in OCI		0		0
Purchases, issuances, sales and settlements, net		0		0
Transfers in		15		15
Transfers (out)		0		0
Ending balance		15		15
Total gains (losses) included in earnings1		0		0
Total gains (losses) included in OCI1		0		0
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3		15		15
Mortgage loans | Consolidated Entity, excluding Affiliated Entity
Assets
Beginning balance	34,668	25,218	27,454	21,154
Total realized and unrealized gains (losses) included in income	(850)	(1,117)	(794)	(2,888)
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	4,160	1,044	11,318	6,879
Transfers in	0	0	0	0
Ending balance	37,978	25,145	37,978	25,145
Total gains (losses) included in earnings1	(850)	(1,111)	(792)	(2,878)
Total gains (losses) included in OCI1	0	0	0	0
Mortgage loans | Related Party
Assets
Beginning balance	1,296	1,416	1,302	1,369
Total realized and unrealized gains (losses) included in income	(61)	(82)	(44)	(206)
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	(1)	(3)	(24)	168
Transfers in	0	0	0	0
Transfers (out)	0	0	0	0
Ending balance	1,234	1,331	1,234	1,331
Total gains (losses) included in earnings1	(61)	(82)	(44)	(206)
Total gains (losses) included in OCI1	0	0	0	0
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	0	0	0
Mortgage loans | Variable Interest Entities
Assets
Beginning balance	2,113	1,626	2,055	2,152
Total realized and unrealized gains (losses) included in income	(73)	(80)	(71)	(250)
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	2	96	58	(58)
Transfers in	0	21	0	(181)
Transfers (out)	0	0	0	223
Ending balance	2,042	1,663	2,042	1,663
Total gains (losses) included in earnings1	(73)	(79)	(71)	(250)
Total gains (losses) included in OCI1	0	0	0	0
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	21	0	42
Mortgage loans | Investments, excluding investments in Related Party
Assets
Purchases, issuances, sales and settlements, net	4,160	1,044
Transfers in	0	0
Transfers (out)	0	0
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	0
Investment funds | Consolidated Entity, excluding Affiliated Entity
Assets
Beginning balance		19		18
Total realized and unrealized gains (losses) included in income		0		1
Total realized and unrealized gains (losses) included in OCI		0		0
Purchases, issuances, sales and settlements, net		0		0
Transfers in		(19)		(19)
Ending balance		0		0
Total gains (losses) included in earnings1		0		0
Total gains (losses) included in OCI1		0		0
Investment funds | Related Party
Assets
Beginning balance	1,061	818	959	2,855
Total realized and unrealized gains (losses) included in income	(18)	(29)	52	(1)
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	0	0	32	(34)
Transfers in	0	0	0	(2,031)
Transfers (out)			0	2,031
Ending balance	1,043	789	1,043	789
Total gains (losses) included in earnings1	(18)	(29)	53	(1)
Total gains (losses) included in OCI1	0	0	0	0
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3			0	0
Investment funds | Variable Interest Entities
Assets
Beginning balance	1,351	1,053	2,471	1,297
Total realized and unrealized gains (losses) included in income	(30)	(19)	(7)	9
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	81	1,694	73	1,855
Transfers in	0	(422)	(1,135)	(855)
Transfers (out)	0	422	1,610	11,942
Ending balance	1,402	2,306	1,402	2,306
Total gains (losses) included in earnings1	(30)	(19)	(7)	9
Total gains (losses) included in OCI1	0	0	0	0
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	0	475	11,087
Investment funds | Investments, excluding investments in Related Party
Assets
Purchases, issuances, sales and settlements, net		0
Transfers in		(19)
Transfers (out)		19
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3		0
Other | Consolidated Entity, excluding Affiliated Entity
Assets
Beginning balance	337	0	441	0
Total realized and unrealized gains (losses) included in income	(5)	0	(5)	0
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	145	0	41	0
Transfers in	0	496	0	496
Ending balance	477	496	477	496
Total gains (losses) included in earnings1	(5)	0	(7)	0
Total gains (losses) included in OCI1	0	0	0	0
Other | Related Party
Assets
Beginning balance	343	0	303	0
Total realized and unrealized gains (losses) included in income	(16)	0	(18)	0
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	0	0	42	0
Transfers in	0	274	0	274
Transfers (out)		0	0	0
Ending balance	327	274	327	274
Total gains (losses) included in earnings1	(16)	0	(19)	0
Total gains (losses) included in OCI1	0	0	0	0
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3		274	0	274
Other | Variable Interest Entities
Assets
Beginning balance	99	31	99	0
Total realized and unrealized gains (losses) included in income	5	0	7	0
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	(12)	0	(14)	31
Transfers in	0	105	0	105
Transfers (out)	0	0	0	1,902
Ending balance	92	136	92	136
Total gains (losses) included in earnings1	5	0	7	0
Total gains (losses) included in OCI1	0	0	0	0
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	105	0	2,007
Other | Investments, excluding investments in Related Party
Assets
Purchases, issuances, sales and settlements, net	145	0
Transfers in	0	496
Transfers (out)	0	0
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	496
Foreign governments | Consolidated Entity, excluding Affiliated Entity
Assets
Beginning balance	48	2	1	2
Total realized and unrealized gains (losses) included in income	0	0	0	0
Total realized and unrealized gains (losses) included in OCI	(2)	0	(2)	0
Purchases, issuances, sales and settlements, net	0	0	47	0
Transfers in	0	0	0	0
Ending balance	46	2	46	2
Total gains (losses) included in earnings1	0	0	0	0
Total gains (losses) included in OCI1	(2)	0	(2)	0
Corporate | Consolidated Entity, excluding Affiliated Entity
Assets
Beginning balance	2,460	1,588	1,665	1,339
Total realized and unrealized gains (losses) included in income	(8)	(16)	(9)	(19)
Total realized and unrealized gains (losses) included in OCI	(25)	(58)	(1)	(135)
Purchases, issuances, sales and settlements, net	(26)	205	1,170	385
Transfers in	(20)	(57)	(444)	92
Transfers (out)	20	140
Ending balance	2,381	1,662	2,381	1,662
Total gains (losses) included in earnings1	0	0	0	0
Total gains (losses) included in OCI1	(27)	(55)	(7)	(120)
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	83
Corporate | Related Party
Assets
Beginning balance	1,171	849	812	670
Total realized and unrealized gains (losses) included in income	1	1	2	(3)
Total realized and unrealized gains (losses) included in OCI	(10)	(17)	(18)	(23)
Purchases, issuances, sales and settlements, net	24	114	175	250
Transfers in	0	(94)	215	(41)
Transfers (out)	0	94	0	94
Ending balance	1,186	853	1,186	853
Total gains (losses) included in earnings1	0	0	0	0
Total gains (losses) included in OCI1	(10)	(15)	(18)	(22)
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	0	215	53
Collateralized Loan Obligations | Related Party
Assets
Beginning balance			303
Total realized and unrealized gains (losses) included in income			0
Total realized and unrealized gains (losses) included in OCI			15
Purchases, issuances, sales and settlements, net			185
Transfers in			0
Ending balance	503		503
Total gains (losses) included in earnings1			0
Total gains (losses) included in OCI1			15
ABS | Consolidated Entity, excluding Affiliated Entity
Assets
Beginning balance	5,305	3,594	4,867	3,619
Total realized and unrealized gains (losses) included in income	0	2	0	9
Total realized and unrealized gains (losses) included in OCI	14	(50)	(36)	(145)
Purchases, issuances, sales and settlements, net	(255)	198	794	198
Transfers in	(438)	104	(999)	167
Transfers (out)	795	12
Ending balance	4,626	3,848	4,626	3,848
Total gains (losses) included in earnings1	0	0	0	0
Total gains (losses) included in OCI1	4	(60)	(49)	(116)
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	357	116
ABS | Related Party
Assets
Beginning balance	7,742	5,026	5,542	6,445
Total realized and unrealized gains (losses) included in income	(2)	(3)	7	(4)
Total realized and unrealized gains (losses) included in OCI	(11)	(73)	38	(208)
Purchases, issuances, sales and settlements, net	110	284	1,968	(957)
Transfers in	0	94	284	52
Transfers (out)	0	0	0	1,864
Ending balance	7,839	5,328	7,839	5,328
Total gains (losses) included in earnings1	(6)	0	(2)	0
Total gains (losses) included in OCI1	(14)	(73)	32	(193)
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	94	284	1,916
CMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Beginning balance	12		0	43
Total realized and unrealized gains (losses) included in income	0		0	0
Total realized and unrealized gains (losses) included in OCI	0		0	(17)
Purchases, issuances, sales and settlements, net	0		0	0
Transfers in	0		12	(26)
Ending balance	12	0	12	0
Total gains (losses) included in earnings1	0		0	0
Total gains (losses) included in OCI1	0		(1)	0
RMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Beginning balance	6	68	232
Total realized and unrealized gains (losses) included in income	0	0	6
Total realized and unrealized gains (losses) included in OCI	0	(1)	2
Purchases, issuances, sales and settlements, net	261	(1)	258
Transfers in	(4)	(66)	(235)
Transfers (out)	4	66
Ending balance	263	0	263	0
Total gains (losses) included in earnings1	0	0	0
Total gains (losses) included in OCI1	0	0	0
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	0
RMBS | Investments, excluding investments in Related Party
Assets
Beginning balance				0
Total realized and unrealized gains (losses) included in income				0
Total realized and unrealized gains (losses) included in OCI				(1)
Purchases, issuances, sales and settlements, net				67
Transfers in				(66)
Ending balance		0		0
Total gains (losses) included in earnings1				0
Total gains (losses) included in OCI1				0
Trading securities | Consolidated Entity, excluding Affiliated Entity
Assets
Beginning balance	38	58	53	69
Total realized and unrealized gains (losses) included in income	(1)	(4)	2	(10)
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	(5)	(2)	(12)	6
Transfers in	0	2	(11)	(11)
Ending balance	32	54	32	54
Total gains (losses) included in earnings1	(1)	(4)	0	(4)
Total gains (losses) included in OCI1	0	0	0	0
Trading securities | Related Party
Assets
Beginning balance	867	891	878	1,771
Total realized and unrealized gains (losses) included in income	4	4	6	3
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	0	5	(13)	(1,057)
Transfers in	0	5	0	188
Transfers (out)	0	0	0	1,260
Ending balance	871	905	871	905
Total gains (losses) included in earnings1	3	4	3	(4)
Total gains (losses) included in OCI1	0	0	0	0
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	5	0	1,448
Trading securities | Variable Interest Entities
Assets
Beginning balance	1,425	330	622	0
Total realized and unrealized gains (losses) included in income	(48)	(7)	(40)	(7)
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	(45)	529	(55)	529
Transfers in	526	(232)	1,331	98
Transfers (out)	0	332	31	332
Ending balance	1,858	620	1,858	620
Total gains (losses) included in earnings1	(48)	(7)	(40)	(7)
Total gains (losses) included in OCI1	0	0	0	0
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	526	100	1,362	430
Trading securities | Investments, excluding investments in Related Party
Assets
Purchases, issuances, sales and settlements, net	(5)	(2)
Transfers in	0	2
Transfers (out)	0	1
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	3
CLO | Consolidated Entity, excluding Affiliated Entity
Assets
Beginning balance		0		14
Total realized and unrealized gains (losses) included in income		0		(2)
Total realized and unrealized gains (losses) included in OCI		0		0
Purchases, issuances, sales and settlements, net		3		(9)
Transfers in		0		0
Transfers (out)		0
Ending balance		3		3
Total gains (losses) included in earnings1		0		0
Total gains (losses) included in OCI1		0		0
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3		0
CLO | Related Party
Assets
Beginning balance	495	325		202
Total realized and unrealized gains (losses) included in income	0	0		0
Total realized and unrealized gains (losses) included in OCI	8	(14)		(21)
Purchases, issuances, sales and settlements, net	0	0	185	130
Transfers in	0	0	0	0
Transfers (out)			0	0
Ending balance	503	311	503	311
Total gains (losses) included in earnings1	0	0		0
Total gains (losses) included in OCI1	8	(14)		(21)
Liabilities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3			0	0
Embedded derivatives | Funds withheld at interest | Consolidated Entity, excluding Affiliated Entity
Assets
Beginning balance	(4,356)	(3,958)	(4,847)	29
Total realized and unrealized gains (losses) included in income	(625)	(1,301)	(134)	0
Total realized and unrealized gains (losses) included in OCI	0	0	0	(1)
Purchases, issuances, sales and settlements, net	0	0	0	7
Transfers in	0	0	0	0
Ending balance	(4,981)	(5,259)	(4,981)	(5,259)
Total gains (losses) included in earnings1	0	0	0	0
Total gains (losses) included in OCI1	0	0	0	(1)
Embedded derivatives | Funds withheld at interest | Related Party
Assets
Beginning balance	(1,297)	(1,129)	(1,425)	0
Total realized and unrealized gains (losses) included in income	325	(442)	453	(1,571)
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	0	0	0	0
Transfers in	0	0	0	0
Ending balance	(972)	(1,571)	(972)	(1,571)
Total gains (losses) included in earnings1	0	0	0	0
Total gains (losses) included in OCI1	0	0	0	0
Derivative Financial Instruments, Liabilities
Liabilities
Beginning balance	(1)	(1)	(1)	(3)
Total realized and unrealized gains (losses) included in income	0	0	0	2
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	0	0	0	0
Transfers in	0	0	0	0
Ending balance	(1)	(1)	(1)	(1)
Total gains (losses) included in earnings1	0	0	0	0
Total gains (losses) included in OCI1	0	0	0	0
Interest sensitive contract liabilities | Embedded derivatives
Liabilities
Beginning balance	(8,198)	(5,176)	(5,841)	(7,408)
Total realized and unrealized gains (losses) included in income	1,251	526	(277)	3,079
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	398	348	1,227	669
Transfers in	0	0	0	0
Transfers (out)	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3	0	0	0	0
Ending balance	(7,345)	(4,998)	(7,345)	(4,998)
Total gains (losses) included in earnings1	0	0	0	0
Total gains (losses) included in OCI1	0	0	0	0
Other liabilities
Liabilities
Beginning balance	(209)		(142)
Total realized and unrealized gains (losses) included in income	(4)		(71)
Total realized and unrealized gains (losses) included in OCI	0		0
Purchases, issuances, sales and settlements, net	0		0
Transfers in	0		0
Ending balance	(213)		(213)
Total gains (losses) included in earnings1	0		0
Total gains (losses) included in OCI1	0		0
Universal life | Interest sensitive contract liabilities
Liabilities
Beginning balance	(854)	(943)	(829)	(1,235)
Total realized and unrealized gains (losses) included in income	115	91	90	383
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	0	0	0	0
Transfers in	0	0	0	0
Ending balance	(739)	(852)	(739)	(852)
Total gains (losses) included in earnings1	0	0	0	0
Total gains (losses) included in OCI1	0	0	0	0
AmerUs Closed Block | Future policy benefits
Liabilities
Beginning balance	(1,159)	(1,247)	(1,164)	(1,520)
Total realized and unrealized gains (losses) included in income	59	90	64	363
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	0	0	0	0
Transfers in	0	0	0	0
Ending balance	(1,100)	(1,157)	(1,100)	(1,157)
Total gains (losses) included in earnings1	0	0	0	0
Total gains (losses) included in OCI1	0	0	0	0
ILICO Closed Block and life benefits | Future policy benefits
Liabilities
Beginning balance	(571)	(623)	(548)	(742)
Total realized and unrealized gains (losses) included in income	20	11	(3)	130
Total realized and unrealized gains (losses) included in OCI	0	0	0	0
Purchases, issuances, sales and settlements, net	0	0	0	0
Transfers in	0	0	0	0
Ending balance	(551)	(612)	(551)	(612)
Total gains (losses) included in earnings1	0	0	0	0
Total gains (losses) included in OCI1	$ 0	$ 0	$ 0	$ 0

Fair Value - Gross Components o

Fair Value - Gross Components of Purchases, Sales, Issuances and Settlements, net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Jan. 01, 2022
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	$ 7,028	$ 6,004	$ 21,958	$ 18,662
Issuances	0	0	0	0
Sales	(396)	(55)	(723)	(3,789)
Settlements	(2,093)	(1,611)	(5,154)	(6,357)
Purchases, (Sales), Issuances, (Settlements)	4,539	4,338	16,081	8,516
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	883	1,312	3,108	18,714
Transfers (out)	(819)	(1,086)	(4,077)	(20,879)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	64	226	(969)	(2,165)
Purchases	0	0	0	0
Issuances	(573)	(456)	(1,708)	(1,053)
Sales	0	0	0	0
Settlements	(175)	(108)	(481)	(384)
Purchases, (Sales), Issuances, (Settlements), Liabilities	(398)	(348)	(1,227)	(669)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3	0	0	0	0
Transfers (out)	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	60,008	40,834	60,008	40,834	$ 56,969	$ 45,582	$ 39,688	$ 45,752
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	9,949	7,620	9,949	7,620	10,992	8,525	7,990	10,908
Mortgage loans | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	4,160	1,044	11,318	6,879
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	37,978	25,145	37,978	25,145	34,668	27,454	25,218	21,154
Mortgage loans | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	0	0	0	182
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	(1)	(3)	(24)	(14)
Purchases, (Sales), Issuances, (Settlements)	(1)	(3)	(24)	168
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	0	0	0
Transfers (out)	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	1,234	1,331	1,234	1,331	1,296	1,302	1,416	1,369
Mortgage loans | Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	4	102	63	102
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	(2)	(6)	(5)	(160)
Purchases, (Sales), Issuances, (Settlements)	2	96	58	(58)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	21	0	42
Transfers (out)	0	0	0	(223)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	21	0	(181)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	2,042	1,663	2,042	1,663	2,113	2,055	1,626	2,152
Mortgage loans | Consolidated Entity, Excluding Variable Interest Entities (VIE) and Investments in Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases			14,361	9,377
Issuances			0	0
Sales			(348)	(181)
Settlements			(2,695)	(2,317)
Purchases, (Sales), Issuances, (Settlements)			11,318	6,879
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3			0	0
Transfers (out)			0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net			0	0
Mortgage loans | Investments, excluding investments in Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	5,696	1,900
Issuances	0	0
Sales	(285)	(51)
Settlements	(1,251)	(805)
Purchases, (Sales), Issuances, (Settlements)	4,160	1,044
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	0
Transfers (out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Short-term investments | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	100	(23)	70	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0	26	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	129	35	129	35	30	36	58	0
Short-term investments | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases				53
Issuances				0
Sales				0
Settlements				0
Purchases, (Sales), Issuances, (Settlements)				53
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3				0
Transfers (out)				(53)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net				(53)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		0		0				0
Short-term investments | Consolidated Entity, Excluding Variable Interest Entities (VIE) and Investments in Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases			100	59
Issuances			0	0
Sales			0	0
Settlements			(30)	(52)
Purchases, (Sales), Issuances, (Settlements)			70	7
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3			26	0
Transfers (out)			0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net			26	0
Short-term investments | Investments, excluding investments in Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	100	0
Issuances	0	0
Sales	0	0
Settlements	0	(23)
Purchases, (Sales), Issuances, (Settlements)	100	(23)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	0
Transfers (out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Investment funds | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)		0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		(19)		(19)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		0		0			19	18
Investment funds | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases			32	0
Issuances			0	0
Sales			0	(34)
Settlements			0	0
Purchases, (Sales), Issuances, (Settlements)	0	0	32	(34)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3			0	0
Transfers (out)			0	(2,031)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0	0	(2,031)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	1,043	789	1,043	789	1,061	959	818	2,855
Investment funds | Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	113	1,695	113	1,981
Issuances	0	0	0	0
Sales	(32)	(1)	(40)	(126)
Settlements	0	0	0	0
Purchases, (Sales), Issuances, (Settlements)	81	1,694	73	1,855
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	0	475	11,087
Transfers (out)	0	(422)	(1,610)	(11,942)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	(422)	(1,135)	(855)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	1,402	2,306	1,402	2,306	1,351	2,471	1,053	1,297
Investment funds | Consolidated Entity, Excluding Variable Interest Entities (VIE) and Investments in Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases				0
Issuances				0
Sales				0
Settlements				0
Purchases, (Sales), Issuances, (Settlements)				0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3				0
Transfers (out)				(19)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net				(19)
Investment funds | Investments, excluding investments in Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases		0
Issuances		0
Sales		0
Settlements		0
Purchases, (Sales), Issuances, (Settlements)		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3		0
Transfers (out)		(19)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		(19)
Reinsurance recoverable
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	1,301	1,476	1,301	1,476	1,436	1,388	1,580	1,991
Trading securities | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	(5)	(2)	(12)	6
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	2	(11)	(11)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	32	54	32	54	38	53	58	69
Trading securities | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	1	5	28	41
Issuances	0	0	0	0
Sales	(1)	0	(38)	(1,052)
Settlements	0	0	(3)	(46)
Purchases, (Sales), Issuances, (Settlements)	0	5	(13)	(1,057)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	5	0	1,448
Transfers (out)	0	0	0	(1,260)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	5	0	188
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	871	905	871	905	867	878	891	1,771
Trading securities | Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	6	529	26	529
Issuances	0	0	0	0
Sales	(51)	0	(81)	0
Settlements	0	0	0	0
Purchases, (Sales), Issuances, (Settlements)	(45)	529	(55)	529
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	526	100	1,362	430
Transfers (out)	0	(332)	(31)	(332)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	526	(232)	1,331	98
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	1,858	620	1,858	620	1,425	622	330	0
Trading securities | Consolidated Entity, Excluding Variable Interest Entities (VIE) and Investments in Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases			8	8
Issuances			0	0
Sales			0	0
Settlements			(20)	(2)
Purchases, (Sales), Issuances, (Settlements)			(12)	6
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3			5	42
Transfers (out)			(16)	(53)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net			(11)	(11)
Trading securities | Investments, excluding investments in Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	(5)	(2)
Purchases, (Sales), Issuances, (Settlements)	(5)	(2)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	3
Transfers (out)	0	(1)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	2
Other | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	145	0	41	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	496	0	496
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	477	496	477	496	337	441	0	0
Other | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases		0	42	0
Issuances		0	0	0
Sales		0	0	0
Settlements		0	0	0
Purchases, (Sales), Issuances, (Settlements)	0	0	42	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3		274	0	274
Transfers (out)		0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	274	0	274
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	327	274	327	274	343	303	0	0
Other | Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	2	0	7	31
Issuances	0	0	0	0
Sales	(14)	0	(21)	0
Settlements	0	0	0	0
Purchases, (Sales), Issuances, (Settlements)	(12)	0	(14)	31
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	105	0	2,007
Transfers (out)	0	0	0	(1,902)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	105	0	105
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	92	136	92	136	99	99	31	0
Other | Consolidated Entity, Excluding Variable Interest Entities (VIE) and Investments in Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases			472	0
Issuances			0	0
Sales			0	0
Settlements			(431)	0
Purchases, (Sales), Issuances, (Settlements)			41	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3			0	496
Transfers (out)			0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net			0	496
Other | Investments, excluding investments in Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	145	0
Issuances	0	0
Sales	0	0
Settlements	0	0
Purchases, (Sales), Issuances, (Settlements)	145	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	496
Transfers (out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	496
Foreign Government Debt | Consolidated Entity, Excluding Variable Interest Entities (VIE) and Investments in Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases			53
Issuances			0
Sales			0
Settlements			(6)
Purchases, (Sales), Issuances, (Settlements)			47
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3			0
Transfers (out)			0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net			0
Corporate | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	26	228
Issuances	0	0
Sales	0	(3)
Settlements	(52)	(20)
Purchases, (Sales), Issuances, (Settlements)	(26)	205	1,170	385
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	83
Transfers (out)	(20)	(140)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(20)	(57)	(444)	92
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	2,381	1,662	2,381	1,662	2,460	1,665	1,588	1,339
Corporate | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	27	116	184	483
Issuances	0	0	0	0
Sales	0	0	0	(217)
Settlements	(3)	(2)	(9)	(16)
Purchases, (Sales), Issuances, (Settlements)	24	114	175	250
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	0	215	53
Transfers (out)	0	(94)	0	(94)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	(94)	215	(41)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	1,186	853	1,186	853	1,171	812	849	670
Corporate | Consolidated Entity, Excluding Variable Interest Entities (VIE) and Investments in Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases			1,338	681
Issuances			0	0
Sales			0	(173)
Settlements			(168)	(123)
Purchases, (Sales), Issuances, (Settlements)			1,170	385
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3			29	276
Transfers (out)			(473)	(184)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net			(444)	92
CLO | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases		3
Issuances		0
Sales		0
Settlements		0
Purchases, (Sales), Issuances, (Settlements)		3		(9)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3		0
Transfers (out)		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		3		3			0	14
CLO | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases			185	130
Issuances			0	0
Sales			0	0
Settlements			0	0
Purchases, (Sales), Issuances, (Settlements)	0	0	185	130
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3			0	0
Transfers (out)			0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	503	311	503	311	495		325	202
CLO | Consolidated Entity, Excluding Variable Interest Entities (VIE) and Investments in Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases				3
Issuances				0
Sales				0
Settlements				(12)
Purchases, (Sales), Issuances, (Settlements)				(9)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3				0
Transfers (out)				0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net				0
Equity securities | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	0	0	0	(3)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0	(13)	(381)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	74	72	74	72	67	92	62	429
Equity securities | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases		195	0	195
Issuances		0	0	0
Sales		0	0	(119)
Settlements		0	(32)	0
Purchases, (Sales), Issuances, (Settlements)	0	195	(32)	76
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3		0	0	125
Transfers (out)		0	0	(113)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0	0	12
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	245	340	245	340	252	279	163	284
Equity securities | Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases		0		0
Issuances		0		0
Sales		0		0
Settlements		0		0
Purchases, (Sales), Issuances, (Settlements)		0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3		15		15
Transfers (out)		0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		15		15
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		15		15			0	0
Equity securities | Consolidated Entity, Excluding Variable Interest Entities (VIE) and Investments in Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases			0	0
Issuances			0	0
Sales			0	(3)
Settlements			0	0
Purchases, (Sales), Issuances, (Settlements)			0	(3)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3			0	19
Transfers (out)			(13)	(400)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net			(13)	(381)
ABS | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	221	344
Issuances	0	0
Sales	(13)	0
Settlements	(463)	(146)
Purchases, (Sales), Issuances, (Settlements)	(255)	198	794	198
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	357	116
Transfers (out)	(795)	(12)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(438)	104	(999)	167
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	4,626	3,848	4,626	3,848	5,305	4,867	3,594	3,619
ABS | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	426	887	3,132	2,160
Issuances	0	0	0	0
Sales	0	0	(162)	(93)
Settlements	(316)	(603)	(1,002)	(3,024)
Purchases, (Sales), Issuances, (Settlements)	110	284	1,968	(957)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	94	284	1,916
Transfers (out)	0	0	0	(1,864)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	94	284	52
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	7,839	5,328	7,839	5,328	7,742	5,542	5,026	6,445
ABS | Consolidated Entity, Excluding Variable Interest Entities (VIE) and Investments in Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases			1,552	2,579
Issuances			0	0
Sales			(33)	(1,791)
Settlements			(725)	(590)
Purchases, (Sales), Issuances, (Settlements)			794	198
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3			695	484
Transfers (out)			(1,694)	(317)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net			(999)	167
RMBS | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	261	0
Issuances	0	0
Sales	0	0
Settlements	0	(1)
Purchases, (Sales), Issuances, (Settlements)	261	(1)	258
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0	0
Transfers (out)	(4)	(66)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(4)	(66)	(235)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	263	0	263	0	6	232	68
RMBS | Consolidated Entity, Excluding Variable Interest Entities (VIE) and Investments in Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases			262	68
Issuances			0	0
Sales			0	0
Settlements			(4)	(1)
Purchases, (Sales), Issuances, (Settlements)			258	67
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3			5	0
Transfers (out)			(240)	(66)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net			(235)	(66)
RMBS | Investments, excluding investments in Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)				67
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net				(66)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		0		0				0
CMBS | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	0		0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0		12	(26)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	12	0	12	0	12	0		43
CMBS | Consolidated Entity, Excluding Variable Interest Entities (VIE) and Investments in Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases			0	0
Issuances			0	0
Sales			0	0
Settlements			0	0
Purchases, (Sales), Issuances, (Settlements)			0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3			12	0
Transfers (out)			0	(26)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net			12	(26)
Embedded derivatives | Funds withheld at interest | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	0	0	0	7
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	(4,981)	(5,259)	(4,981)	(5,259)	(4,356)	(4,847)	(3,958)	29
Embedded derivatives | Funds withheld at interest | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	(972)	(1,571)	(972)	(1,571)	(1,297)	(1,425)	(1,129)	0
Interest sensitive contract liabilities | Universal life
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements), Liabilities	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	739	852	739	852	854	829	943	1,235
Interest sensitive contract liabilities | Embedded derivatives
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	0	0	0	0
Issuances	(573)	(456)	(1,708)	(1,053)
Sales	0	0	0	0
Settlements	(175)	(108)	(481)	(384)
Purchases, (Sales), Issuances, (Settlements), Liabilities	(398)	(348)	(1,227)	(669)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3	0	0	0	0
Transfers (out)	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	7,345	4,998	7,345	4,998	8,198	5,841	5,176	7,408
Derivative Financial Instruments, Liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements), Liabilities	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	1	1	1	1	1	1	1	3
Future policy benefits | AmerUs Closed Block
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements), Liabilities	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	1,100	1,157	1,100	1,157	1,159	1,164	1,247	1,520
Future policy benefits | ILICO Closed Block and life benefits
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements), Liabilities	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	551	$ 612	551	$ 612	571	548	$ 623	$ 742
Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements), Liabilities	0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	$ 213		$ 213		$ 209	$ 142

Fair Value - Summary of Unobser

Fair Value - Summary of Unobservable Inputs for the Embedded Derivatives of Interest Sensitive Contract Liabilities (Details) $ in Millions	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment funds	$ 16,818	$ 14,128
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-Sale Debt securities, Trading securities, and Equity securities	14,272	10,671
Mortgage loans, net of allowances	41,254	30,811
Level 3 | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment funds	483	506
Level 3 | Discounted cash flow/guideline public equity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment funds		873
Level 3 | Net tangible asset values
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment funds	511	529
Level 3 | Reported net asset value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment funds	$ 408	$ 563
Nonperformance risk | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input	0.006	0.001
Nonperformance risk | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input	0.016	0.017
Nonperformance risk | Weighted average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input	0.012	0.010
Option budget | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input	0.005	0.005
Option budget | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input	0.059	0.053
Option budget | Weighted average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input	0.023	0.019
Surrender rate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input	0.067	0.051
Surrender rate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input	0.133	0.115
Surrender rate | Weighted average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input	0.088	0.081
Measurement Input, Discount Rate [Member] | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage loans, Measurement Input	0.022	0.015
Measurement Input for Available-for-Sale Debt securities, Trading securities, and Equity securities	0.023	0.022
Investment funds, measurement input	0.063	0.064
Measurement Input, Discount Rate [Member] | Minimum | Discounted cash flow/guideline public equity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment funds, measurement input		0.165
Measurement Input, Discount Rate [Member] | Minimum | Measurement Input, Implied Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment funds, measurement input	1.18	1.26
Measurement Input, Discount Rate [Member] | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage loans, Measurement Input	0.219	0.221
Measurement Input for Available-for-Sale Debt securities, Trading securities, and Equity securities	0.188	0.188
Investment funds, measurement input	0.063	0.064
Measurement Input, Discount Rate [Member] | Maximum | Discounted cash flow/guideline public equity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment funds, measurement input		0.165
Measurement Input, Discount Rate [Member] | Maximum | Measurement Input, Implied Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment funds, measurement input	1.18	1.26
Measurement Input, Discount Rate [Member] | Weighted average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage loans, Measurement Input	0.070	0.063
Measurement Input for Available-for-Sale Debt securities, Trading securities, and Equity securities	0.072	0.068
Investment funds, measurement input	0.063	0.064
Measurement Input, Discount Rate [Member] | Weighted average | Discounted cash flow/guideline public equity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment funds, measurement input		0.165
Measurement Input, Discount Rate [Member] | Weighted average | Measurement Input, Implied Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment funds, measurement input	1.18	1.26
Measurement Input, P/E Ratio | Minimum | Discounted cash flow/guideline public equity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment funds, measurement input		9
Measurement Input, P/E Ratio | Maximum | Discounted cash flow/guideline public equity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment funds, measurement input		9
Measurement Input, P/E Ratio | Weighted average | Discounted cash flow/guideline public equity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment funds, measurement input		9
Embedded derivatives | Interest sensitive contract liabilities | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total liabilities measured at fair value	$ 7,345	$ 5,841

Fair Value - Financial Instrume

Fair Value - Financial Instruments Not Carried at Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Fair Value
Assets
Short-term investments		$ 1,640
Total assets measured at fair value	$ 40,541	51,798
Liabilities
Interest sensitive contract liabilities	126,779	111,608
Debt	2,839	2,893
Securities Sold under Agreements to Repurchase	4,512	4,743
Funds withheld liability	349	360
Total liabilities not carried at fair value	134,479	119,604
Fair Value | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	124	79
Policy loans	336	347
Funds withheld at interest	30,934	37,727
Other investments	45	162
Fair Value | Related Party
Assets
Investment funds	561	610
Funds withheld at interest	7,592	11,233
Short-term investments	949
Carrying Value
Assets
Short-term investments		1,640
Total assets measured at fair value	40,536	51,798
Liabilities
Interest sensitive contract liabilities	140,229	125,101
Debt	3,634	3,658
Securities Sold under Agreements to Repurchase	4,512	4,743
Funds withheld liability	349	360
Total liabilities not carried at fair value	148,724	133,862
Carrying Value | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	124	79
Policy loans	336	347
Funds withheld at interest	30,934	37,727
Other investments	40	162
Carrying Value | Related Party
Assets
Investment funds	561	610
Funds withheld at interest	7,592	11,233
Short-term investments	949
Investment funds	16,818	14,128
Liabilities
Interest sensitive contract liabilities	189,065	173,616	$ 166,878
Debt	3,634	3,658
Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	124	79
Policy loans	336	347
Funds withheld at interest	25,953	32,880
Other investments	947	773
Short-term investments	527	2,160
Related Party
Assets
Investment funds	1,604	1,569
Funds withheld at interest	6,620	9,808
Other investments	327	303
Short-term investments	949	0
Liabilities
Interest sensitive contract liabilities	9,055	11,889
Variable Interest Entities
Assets
Investment funds	15,090	12,480
Other investments	94	101
Level 1 | Fair Value
Assets
Short-term investments		0
Total assets measured at fair value	0	0
Liabilities
Interest sensitive contract liabilities	0	0
Debt	0	0
Securities Sold under Agreements to Repurchase	0	0
Funds withheld liability	0	0
Total liabilities not carried at fair value	0	0
Level 1 | Fair Value | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	0	0
Policy loans	0	0
Funds withheld at interest	0	0
Other investments	0	0
Level 1 | Fair Value | Related Party
Assets
Investment funds	0	0
Funds withheld at interest	0	0
Short-term investments	0
Level 3 | Fair Value
Assets
Short-term investments		26
Total assets measured at fair value	38,571	49,148
Liabilities
Interest sensitive contract liabilities	126,779	111,608
Debt	0	0
Securities Sold under Agreements to Repurchase	0	0
Funds withheld liability	0	0
Total liabilities not carried at fair value	126,779	111,608
Level 3 | Fair Value | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	0	0
Policy loans	0	0
Funds withheld at interest	30,934	37,727
Other investments	45	162
Level 3 | Fair Value | Related Party
Assets
Investment funds	0	0
Funds withheld at interest	7,592	11,233
Short-term investments	0
NAV | Fair Value
Assets
Total assets measured at fair value	685	689
Liabilities
Interest sensitive contract liabilities	0	0
Debt	0	0
Securities Sold under Agreements to Repurchase	0	0
Funds withheld liability	0	0
Total liabilities not carried at fair value	0	0
NAV | Fair Value | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	124	79
Policy loans	0	0
Funds withheld at interest	0	0
Other investments	0	0
Short-term investments		0
NAV | Fair Value | Related Party
Assets
Investment funds	561	610
Funds withheld at interest	0	0
Short-term investments	0
Level 2 | Fair Value
Assets
Short-term investments		1,614
Total assets measured at fair value	1,285	1,961
Liabilities
Interest sensitive contract liabilities	0	0
Debt	2,839	2,893
Securities Sold under Agreements to Repurchase	4,512	4,743
Funds withheld liability	349	360
Total liabilities not carried at fair value	7,700	7,996
Level 2 | Fair Value | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	0	0
Policy loans	336	347
Funds withheld at interest	0	0
Other investments	0	0
Level 2 | Fair Value | Related Party
Assets
Investment funds	0	0
Funds withheld at interest	0	$ 0
Short-term investments	$ 949

Fair Value - Narrative (Details

Fair Value - Narrative (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Carrying amount of equity securities	$ 400,000,000	$ 400,000,000
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Cumulative Amount	$ 0	$ 0

Deferred Acquisition Costs, D_3

Deferred Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired - Roll Forward of DAC, DSI, and VOBA (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
DAC
Other	$ (3)
Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Present Value of Future Profits, Foreign Currency Translation Gain (Loss) and Other	(3)
VOBA
Beginning balance	2,988	$ 3,372
Additions	0	0
Amortization	(315)	(289)
Ending balance	2,670	3,083
Total
Beginning balance	4,466	3,372
Additions	1,487	1,016
Amortization	(502)	(318)
Ending balance	5,448	4,070
Traditional deferred annuities
DAC
Beginning balance	304	0
Additions	426	175
Amortization	(74)	(5)
Deferred Policy Acquisition Cost, Foreign Currency Translation Adjustment and Other	0
Ending balance	656	170
Indexed annuities
DAC
Beginning balance	755	0
Additions	609	555
Amortization	(69)	(17)
Deferred Policy Acquisition Cost, Foreign Currency Translation Adjustment and Other	0
Deferred Sales Inducement Cost, Other Increase (Decrease)	0
Ending balance	1,295	538
DSI
Beginning balance	399	0
Additions	447	266
Amortization	(40)	(5)
Ending balance	806	261
Funding agreements
DAC
Beginning balance	11	0
Additions	2	13
Amortization	(3)	(2)
Deferred Policy Acquisition Cost, Foreign Currency Translation Adjustment and Other	0
Ending balance	10	11
Other investment-type
DAC
Beginning balance	9	0
Additions	3	7
Amortization	(1)	0
Deferred Policy Acquisition Cost, Foreign Currency Translation Adjustment and Other	0
Ending balance	$ 11	$ 7

Deferred Acquisition Costs, D_4

Deferred Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired - Expected Amortization (Details) $ in Millions	Sep. 30, 2023 USD ($)
Insurance [Abstract]
2023	$ 87
2024	324
2025	292
2026	260
2027	228
2028	$ 197

Long-duration Contracts - Polic

Long-duration Contracts - Policyholder Account Balance Rollforward (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Policyholder Account Balance [Roll Forward]
Beginning balance	$ 168,339	$ 151,390
Deposits	35,624	24,350
Policy charges	(483)	(443)
Surrenders and withdrawals	(16,634)	(9,628)
Benefit payments	(4,441)	(4,826)
Interest credited	2,824	2,743
Foreign exchange	(448)	(1,008)
Other 1	(1,325)	(710)
Ending balance	$ 183,456	$ 161,868
Weighted average crediting rate	2.90%	2.30%
Net amount at risk	$ 14,967	$ 13,626
Cash surrender value	139,739	123,168
Venerable | Reinsurance agreement recapture
Policyholder Account Balance [Roll Forward]
Other 1	(1,371)
Traditional deferred annuities
Policyholder Account Balance [Roll Forward]
Beginning balance	43,518	35,599
Deposits	18,011	7,475
Policy charges	(2)	(2)
Surrenders and withdrawals	(8,207)	(3,435)
Benefit payments	(738)	(703)
Interest credited	1,284	718
Foreign exchange	(77)	0
Other 1	63	0
Ending balance	$ 53,852	$ 39,652
Weighted average crediting rate	3.70%	2.90%
Net amount at risk	$ 425	$ 421
Cash surrender value	50,352	37,777
Indexed annuities
Policyholder Account Balance [Roll Forward]
Beginning balance	92,660	89,755
Deposits	8,960	8,110
Policy charges	(481)	(441)
Surrenders and withdrawals	(8,292)	(5,679)
Benefit payments	(1,216)	(1,215)
Interest credited	802	1,487
Foreign exchange	(1)	0
Other 1	77	0
Ending balance	$ 92,509	$ 92,017
Weighted average crediting rate	2.30%	2.10%
Net amount at risk	$ 14,438	$ 13,169
Cash surrender value	84,052	83,705
Funding agreements
Policyholder Account Balance [Roll Forward]
Beginning balance	27,439	23,623
Deposits	4,893	6,770
Policy charges	0	0
Surrenders and withdrawals	(110)	(505)
Benefit payments	(2,264)	(2,659)
Interest credited	628	474
Foreign exchange	(26)	(899)
Other 1	(46)	(693)
Ending balance	$ 30,514	$ 26,111
Weighted average crediting rate	3.10%	2.20%
Net amount at risk	$ 0	$ 0
Cash surrender value	0	0
Other investment-type
Policyholder Account Balance [Roll Forward]
Beginning balance	4,722	2,413
Deposits	3,760	1,995
Policy charges	0	0
Surrenders and withdrawals	(25)	(9)
Benefit payments	(223)	(249)
Interest credited	110	64
Foreign exchange	(344)	(109)
Other 1	(1,419)	(17)
Ending balance	$ 6,581	$ 4,088
Weighted average crediting rate	2.70%	2.90%
Net amount at risk	$ 104	$ 36
Cash surrender value	$ 5,335	$ 1,686

Long-duration Contracts - Recon

Long-duration Contracts - Reconciliation of Account Balance Within Interest Sensitive Contract Benefits (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Interest sensitive contract liabilities	$ 189,065	$ 173,616	$ 166,878
Traditional deferred annuities
Liability for Future Policy Benefit, Activity [Line Items]
Interest sensitive contract liabilities	53,852		39,652
Indexed annuities
Liability for Future Policy Benefit, Activity [Line Items]
Interest sensitive contract liabilities	92,509		92,017
Funding agreements
Liability for Future Policy Benefit, Activity [Line Items]
Interest sensitive contract liabilities	30,514		26,111
Other investment-type
Liability for Future Policy Benefit, Activity [Line Items]
Interest sensitive contract liabilities	6,581		4,088
Reconciling items
Liability for Future Policy Benefit, Activity [Line Items]
Interest sensitive contract liabilities	$ 5,609		$ 5,010

Long-duration Contracts - Accou

Long-duration Contracts - Account Balances by Guaranteed Minimum Interest Rates (Details) $ in Millions	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jan. 01, 2022 USD ($)
Policyholder Account Balance [Line Items]
Total	$ 183,456	$ 168,339	$ 161,868	$ 151,390
Less than 2.0%
Policyholder Account Balance [Line Items]
Total	$ 138,394		$ 117,992
Less than 2.0% | Maximum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum credit ratings (in percent)	2%		2%
2.0% to 4.0%
Policyholder Account Balance [Line Items]
Total	$ 30,507		$ 39,118
2.0% to 4.0% | Maximum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum credit ratings (in percent)	4%		4%
2.0% to 4.0% | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum credit ratings (in percent)	2%		2%
4.0% to 6.0%
Policyholder Account Balance [Line Items]
Total	$ 11,443		$ 4,628
Range of guaranteed minimum credit ratings (in percent)			6%
4.0% to 6.0% | Maximum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum credit ratings (in percent)	6%
4.0% to 6.0% | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum credit ratings (in percent)	4%		4%
6.0% and greater
Policyholder Account Balance [Line Items]
Total	$ 3,112		$ 130
6.0% and greater | Minimum
Policyholder Account Balance [Line Items]
Range of guaranteed minimum credit ratings (in percent)	6%		6%
At guaranteed minimum
Policyholder Account Balance [Line Items]
Total	$ 71,947		$ 67,490
At guaranteed minimum | Less than 2.0%
Policyholder Account Balance [Line Items]
Total	28,564		25,599
At guaranteed minimum | 2.0% to 4.0%
Policyholder Account Balance [Line Items]
Total	28,838		37,150
At guaranteed minimum | 4.0% to 6.0%
Policyholder Account Balance [Line Items]
Total	11,433		4,611
At guaranteed minimum | 6.0% and greater
Policyholder Account Balance [Line Items]
Total	3,112		130
1 basis point – 100 basis points above guaranteed minimum
Policyholder Account Balance [Line Items]
Total	$ 20,846		$ 28,411
1 basis point – 100 basis points above guaranteed minimum | Maximum
Policyholder Account Balance [Line Items]
Policyholder account balance above guaranteed minimum crediting rate	100		100
1 basis point – 100 basis points above guaranteed minimum | Minimum
Policyholder Account Balance [Line Items]
Policyholder account balance above guaranteed minimum crediting rate	1		1
1 basis point – 100 basis points above guaranteed minimum | Less than 2.0%
Policyholder Account Balance [Line Items]
Total	$ 19,709		$ 26,909
1 basis point – 100 basis points above guaranteed minimum | 2.0% to 4.0%
Policyholder Account Balance [Line Items]
Total	1,128		1,491
1 basis point – 100 basis points above guaranteed minimum | 4.0% to 6.0%
Policyholder Account Balance [Line Items]
Total	9		11
1 basis point – 100 basis points above guaranteed minimum | 6.0% and greater
Policyholder Account Balance [Line Items]
Total	0		0
Greater than 100 basis points above guaranteed minimum
Policyholder Account Balance [Line Items]
Total	$ 90,663		$ 65,967
Greater than 100 basis points above guaranteed minimum | Minimum
Policyholder Account Balance [Line Items]
Policyholder account balance above guaranteed minimum crediting rate	100		100
Greater than 100 basis points above guaranteed minimum | Less than 2.0%
Policyholder Account Balance [Line Items]
Total	$ 90,121		$ 65,484
Greater than 100 basis points above guaranteed minimum | 2.0% to 4.0%
Policyholder Account Balance [Line Items]
Total	541		477
Greater than 100 basis points above guaranteed minimum | 4.0% to 6.0%
Policyholder Account Balance [Line Items]
Total	1		6
Greater than 100 basis points above guaranteed minimum | 6.0% and greater
Policyholder Account Balance [Line Items]
Total	$ 0		$ 0

Long-duration Contracts - Balan

Long-duration Contracts - Balances of and Changes in Liability for Future Policy Benefits (Details) - Payout annuities with life contingencies - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Jan. 01, 2022	Dec. 31, 2021
Present value of expected future policy benefits
Beginning balance	$ 36,422	$ 35,278
Effect of changes in discount rate assumptions	9,753	8,833	$ 8,425	$ 0
Beginning balance at original discount rate	50,593	44,348	44,847	35,278
Effect of actual experience compared to expected experience			(36)	(115)
Adjusted balance			44,514	$ 35,163
Issuances	9,120	10,666
Interest accrual	1,194	802
Benefit payments	(2,731)	(2,193)
Foreign exchange	5	(90)
Liability for Future Policy Benefit, Expected Future Policy Benefit, Increase (Decrease) for Other Change	(1,509)	0
Ending balance at original discount rate	50,593	44,348
Effect of changes in cash flow assumptions			$ (297)		$ 0
Ending balance	40,840	$ 35,515
Venerable | Reinsurance agreement recapture
Present value of expected future policy benefits
Liability for Future Policy Benefit, Expected Future Policy Benefit, Increase (Decrease) for Other Change	$ (1,509)

Long-duration Contracts - Rec_2

Long-duration Contracts - Reconciliation of Future Policy Benefits (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	$ 46,672	$ 42,110	$ 41,285
Payout annuities with life contingencies
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	40,840		35,515
Reconciling items
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	$ 5,832		$ 5,770

Long-duration Contracts - Premi

Long-duration Contracts - Premium Reconciliation (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Premiums	$ 9,163	$ 10,769
Payout annuities with life contingencies
Liability for Future Policy Benefit, Activity [Line Items]
Premiums	9,142	10,745
Reconciling items
Liability for Future Policy Benefit, Activity [Line Items]
Premiums	$ 21	$ 24

Long-duration Contracts - Narra

Long-duration Contracts - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended	9 Months Ended			12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2022	Jan. 01, 2022	Dec. 31, 2021
Additional Liability, Long-Duration Insurance [Line Items]
Future policy benefit, interest expense					$ 1,194	$ 802
Market risk benefit, period increase (decrease)					101	(2,167)
Effect of changes in interest rates					609	2,093	$ 2,093
Effect of changes in instrument-specific credit risk	$ 146	$ (524)			146	(524)	(524)	$ (366)
Attributed fees collected					252	247	247
Effect of changes in equity					(26)	188	188
Remeasurement gains (losses) on future policy benefits related to discount rate	1,317	2,374	$ 3,562	$ 6,459	1,328	8,833		8,425
Remeasurement gains (losses) on market risk benefits related to credit risk	(254)	(52)	$ 397	$ 576	(220)	524		366
Liability for Future Policy Benefit, Adverse Development, Expense					110	38
Payout annuities with life contingencies
Additional Liability, Long-Duration Insurance [Line Items]
Favorable (unfavorable) movements					4,418	237
Interest accrual					1,194		802
Benefit payments					(2,731)		(2,193)
Effect of changes in discount rate assumptions	$ 9,753	$ 8,833			9,753	8,833	8,833	8,425	$ 0
Issuances					9,120		$ 10,666
Remeasurement gains (losses) on future policy benefits related to discount rate					$ 1,328	$ 8,833
Effect of changes in cash flow assumptions								$ (297)		$ 0

Long-duration Contracts - Disco

Long-duration Contracts - Discounted Future Gross Premiums (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022
Insurance [Abstract]
Expected future benefit payments, Undiscounted	$ 73,933	$ 63,743
Expected future benefit payments, Discounted	$ 50,593	$ 44,348

Long-duration Contracts - Weigh

Long-duration Contracts - Weighted Average Durations and Interest Rates (Details)	Sep. 30, 2023	Sep. 30, 2022
Insurance [Abstract]
Weighted-average liability duration (in years)	9 years 7 months 6 days	10 years 2 months 12 days
Weighted-average interest accretion rate	3.60%	3.10%
Weighted-average current discount rate	6.10%	5.60%

Long-duration Contracts - Remea

Long-duration Contracts - Remeasurement Gain (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Insurance [Abstract]
Reserves			$ 333	$ 115
Deferred profit liability			(243)	(110)
Negative VOBA			(54)	0
Total remeasurement gains (losses)	$ 30	$ (5)	$ 36	$ 5

Long-duration Contracts - Marke

Long-duration Contracts - Market Risk Benefits (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2022
Market Risk Benefit [Roll Forward]
Beginning Balance	$ (2,489)		$ 4,447
Effect of changes in instrument-specific credit risk	146	$ (524)	(524)	$ (366)
Balance, beginning of period, before changes in instrument-specific credit risk	2,855
Issuances	47		42
Interest accrual	115		26
Attributed fees collected	252	247	247
Benefit payments	(25)		(41)
Effect of changes in interest rates	(609)	(2,093)	(2,093)
Effect of changes in equity	(26)	188	188
Effect of actual behavior compared to expected behavior	46		31
Effect of changes in future expected policyholder behavior	75
Balance at September 30, 2023	2,590	2,280	2,280
Ending Balance	2,736	2,804	2,804
Net amount at risk	$ 14,863	$ 13,590	13,590
Weighted-average attained age of contract holders (in years)	69 years	69 years
Effect of changes in other future expected assumptions	$ 6		(43)
Traditional deferred annuities
Market Risk Benefit [Roll Forward]
Beginning Balance	(170)		253
Effect of changes in instrument-specific credit risk	7	$ (18)	(18)	(13)
Balance, beginning of period, before changes in instrument-specific credit risk	183
Issuances	0		0
Interest accrual	7		2
Attributed fees collected	2		2
Benefit payments	(1)		(3)
Effect of changes in interest rates	(18)		(77)
Effect of changes in equity	0		0
Effect of actual behavior compared to expected behavior	4		4
Effect of changes in future expected policyholder behavior	(3)
Balance at September 30, 2023	167	161	161
Ending Balance	174	179	179
Net amount at risk	$ 425	$ 421	421
Weighted-average attained age of contract holders (in years)	75 years	75 years
Effect of changes in other future expected assumptions	$ 0		(2)
Indexed annuities
Market Risk Benefit [Roll Forward]
Beginning Balance	(2,319)		4,194
Effect of changes in instrument-specific credit risk	139	$ (506)	(506)	$ (353)
Balance, beginning of period, before changes in instrument-specific credit risk	2,672
Issuances	47		42
Interest accrual	108		24
Attributed fees collected	250		245
Benefit payments	(24)		(38)
Effect of changes in interest rates	(591)		(2,016)
Effect of changes in equity	(26)		188
Effect of actual behavior compared to expected behavior	42		27
Effect of changes in future expected policyholder behavior	78
Balance at September 30, 2023	2,423	2,119	2,119
Ending Balance	2,562	2,625	2,625
Net amount at risk	$ 14,438	$ 13,169	13,169
Weighted-average attained age of contract holders (in years)	69 years	69 years
Effect of changes in other future expected assumptions	$ 6		$ (41)

Long-duration Contracts - Mar_2

Long-duration Contracts - Market Risk Reconciliation (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Market Risk Benefit [Line Items]
Asset	$ 431		$ 511
Liability	3,021	$ 2,970	2,791
Net liability	2,590	2,855	2,280
Traditional deferred annuities
Market Risk Benefit [Line Items]
Asset	0		0
Liability	167		161
Net liability	167	183	161
Indexed annuities
Market Risk Benefit [Line Items]
Asset	431		511
Liability	2,854		2,630
Net liability	$ 2,423	$ 2,672	$ 2,119

Long-duration Contracts - Signi

Long-duration Contracts - Significant Inputs and Assumptions (Details) $ in Millions	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)
Market Risk Benefit [Line Items]
Net liability	$ 2,590	$ 2,855	$ 2,280
Nonperformance risk | Discounted cash flow | Minimum
Market Risk Benefit [Line Items]
Market risk benefit, measurement input (in percent)	0.006		0.006
Nonperformance risk | Discounted cash flow | Maximum
Market Risk Benefit [Line Items]
Market risk benefit, measurement input (in percent)	0.016		0.019
Nonperformance risk | Discounted cash flow | Weighted average
Market Risk Benefit [Line Items]
Market risk benefit, measurement input (in percent)	0.014		0.016
Option budget | Discounted cash flow | Minimum
Market Risk Benefit [Line Items]
Market risk benefit, measurement input (in percent)	0.005		0.005
Option budget | Discounted cash flow | Maximum
Market Risk Benefit [Line Items]
Market risk benefit, measurement input (in percent)	0.059		0.045
Option budget | Discounted cash flow | Weighted average
Market Risk Benefit [Line Items]
Market risk benefit, measurement input (in percent)	0.019		0.016
Surrender rate | Discounted cash flow | Minimum
Market Risk Benefit [Line Items]
Market risk benefit, measurement input (in percent)	0.034		0.033
Surrender rate | Discounted cash flow | Maximum
Market Risk Benefit [Line Items]
Market risk benefit, measurement input (in percent)	0.065		0.068
Surrender rate | Discounted cash flow | Weighted average
Market Risk Benefit [Line Items]
Market risk benefit, measurement input (in percent)	0.046		0.045
Measurement Input, Utilization Rate | Discounted cash flow | Minimum
Market Risk Benefit [Line Items]
Market risk benefit, measurement input (in percent)	0.286		0.286
Measurement Input, Utilization Rate | Discounted cash flow | Maximum
Market Risk Benefit [Line Items]
Market risk benefit, measurement input (in percent)	0.950		0.950
Measurement Input, Utilization Rate | Discounted cash flow | Weighted average
Market Risk Benefit [Line Items]
Market risk benefit, measurement input (in percent)	0.832		0.819

Debt - Narrative (Details)

Debt - Narrative (Details)	9 Months Ended
	Sep. 30, 2023 USD ($) extension	Feb. 07, 2023 USD ($)	Dec. 31, 2022 USD ($)
Liquidity Facility
Line of Credit Facility [Line Items]
Extension period (in years)	364 days
Line of Credit Facility, Current Borrowing Capacity	$ 2,600,000,000
Maximum borrowing capacity	3,100,000,000
Line of Credit Facility, Fair Value of Amount Outstanding	0	$ 1,000,000,000	$ 0
Liquidity Facility | Athene Life Re Ltd.
Line of Credit Facility [Line Items]
Line of Credit Facility, Covenant Terms, Consolidated Net Worth Requirement, Amount	8,800,000,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of Credit Facility, Current Borrowing Capacity	1,250,000,000
Maximum borrowing capacity	1,750,000,000
Line of Credit Facility, Covenant Terms, Consolidated Net Worth Requirement, Amount	14,800,000,000
Line of Credit Facility, Fair Value of Amount Outstanding	$ 0		$ 0
Line of Credit Facility, Covenant Terms, Consolidated debt to capitalization ratio	0.35
Syndicate Of Banks and CitiBank | Line of Credit | Revolving Credit Facility
Line of Credit Facility [Line Items]
Long-Term Debt, Term	5 years
Number Of Extensions For Long-Term Debt, Term | extension	2
Long-Term Debt, Term, Extension	1 year

Equity - Accumulated Other Comp

Equity - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended	9 Months Ended			12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (6,376)	$ (5,698)			$ (7,321)		$ 0
Other comprehensive income (loss) before reclassifications	(2,316)	(3,700)			(972)		(11,183)
Less: Reclassification adjustments for gains (losses) realized	10	(23)			(39)		(162)
Less: Income tax expense (benefit)	(476)	(727)	$ (615)	$ (1,493)	(175)	$ (2,220)	(2,220)	$ (1,933)
Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of subsidiary issuance of equity interests and tax	147	175			0		328
Ending balance	(8,079)	(8,473)		(5,698)	(8,079)	(8,473)	(8,473)	(7,321)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(11,049)	(9,996)			(12,565)		0
Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of subsidiary issuance of equity interests and tax	577	713			467		2,251
Ending balance	(13,006)	(14,082)		(9,996)	(13,006)	(14,082)	(14,082)	(12,565)
AOCI, Gain (Loss), Debt Securities, Available-for-sale, with Allowance for Credit Loss, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(378)	(138)			(334)		0
Ending balance	(348)	(238)		(138)	(348)	(238)	(238)	(334)
DAC, DSI, VOBA, future policy benefits and dividends payable to policyholders adjustments on AFS securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ending balance	(115)	(5)			(115)	(5)	(5)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	26	(28)			47		0
Ending balance				(28)				47
AOCI, Accumulated Gain (Loss), Debt Securities, with credit allowance, portion attributable to NCI [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of subsidiary issuance of equity interests and tax	3	5			5		24
Accumulated Foreign Currency Adjustment and Other Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	5	(63)			(10)		0
Ending balance	(9)	(41)		(63)	(9)	(41)	(41)	(10)
AOCI, Gain (Loss), Debt Securities, Available-for-sale, with Allowance for Credit Loss, Including Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications	(3,199)	(5,824)			(1,841)		(20,037)
Less: Reclassification adjustments for gains (losses) realized	(11)	(24)			(105)		(178)
Less: Income tax expense (benefit)	(654)	(1,001)			(828)		(3,526)
AOCI, Gain (Loss), Debt Securities, Available-for-sale, with Allowance for Credit Loss, Including Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications	33	(128)			(31)		(319)
Less: Reclassification adjustments for gains (losses) realized	0	0			0		0
Less: Income tax expense (benefit)	6	(23)			(12)		(57)
Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications	(192)	(79)			(214)		(112)
Less: Reclassification adjustments for gains (losses) realized	21	1			66		16
Less: Income tax expense (benefit)	(46)	(12)			(68)		(21)
Accumulated Foreign Currency Adjustment and Other Including Portion Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications	(21)	9			6		(72)
Less: Reclassification adjustments for gains (losses) realized	0	0			0		0
Less: Income tax expense (benefit)	(3)	(7)			2		(12)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of subsidiary issuance of equity interests and tax	26	91			50		102
Accumulated Foreign Currency Adjustment and Other Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of subsidiary issuance of equity interests and tax	4	6			(3)		19
AOCI, Liability for Future Policy Benefit, Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	4,708	4,079			5,256		0
Other comprehensive income (loss) before reclassifications	1,317	2,374			1,328		8,833
Less: Reclassification adjustments for gains (losses) realized	0	0			0		0
Less: Income tax expense (benefit)	273	325			777		1,284
Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of subsidiary issuance of equity interests and tax	(471)	(641)			(526)		(2,062)
Ending balance	5,281	5,487		4,079	5,281	5,487	5,487	5,256
Remeasurement gains (losses) on market risk benefits related to credit risk
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	312	448			285		0
Other comprehensive income (loss) before reclassifications	(254)	(52)			(220)		524
Less: Reclassification adjustments for gains (losses) realized	0	0			0		0
Less: Income tax expense (benefit)	(52)	(9)			(46)		112
Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of subsidiary issuance of equity interests and tax	8	1			7		(6)
Ending balance	$ 118	$ 406		$ 448	$ 118	$ 406	$ 406	$ 285

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 162	$ (121)	$ (284)	$ (662)	$ 458	$ (783)	$ (646)
Effective income tax rate (percent)	33%	(10.00%)			18%	12%

Related Parties - Summary of In

Related Parties - Summary of Investments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Investment funds	$ 16,818	$ 14,128
Related Party
Related Party Transaction [Line Items]
Investment funds	1,604	1,569
Related Party | Athora
Related Party Transaction [Line Items]
Investment funds	1,043	959
Equity Securities, FV-NI	239	273
Investments	$ 1,282	$ 1,232

Related Parties - Narrative (De

Related Parties - Narrative (Details)		3 Months Ended			9 Months Ended
	Jul. 01, 2023 USD ($)	Sep. 30, 2023 USD ($) board_member	Jun. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) board_member	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)	Feb. 08, 2023 USD ($)	Dec. 31, 2022 USD ($)
Related Party Transaction [Line Items]
Backbook Value		$ 103,400,000,000			$ 103,400,000,000
Management Fee, Percent		0.0335			0.0335
Number of board of directors that are employees of Apollo | board_member		5			5
Number of board of directors | board_member		12			12
Investment funds		$ 16,818,000,000			$ 16,818,000,000				$ 14,128,000,000
Subsidiary issuance of equity interests and other		598,000,000			598,000,000
Interest sensitive contract liabilities		189,065,000,000		$ 166,878,000,000	189,065,000,000	$ 166,878,000,000	$ 166,878,000,000		173,616,000,000
Available-for-sale securities		129,700,000,000			129,700,000,000				112,225,000,000
Other liabilities		2,543,000,000			2,543,000,000				1,860,000,000
Distributions to noncontrolling interests		(254,000,000)			(381,000,000)
Investment expenses		286,000,000		202,000,000	759,000,000	582,000,000
Provision for Loan, Lease, and Other Losses		60,000,000		(171,000,000)	237,000,000	193,000,000
Payout annuities with life contingencies		46,672,000,000		41,285,000,000	46,672,000,000	41,285,000,000	41,285,000,000		42,110,000,000
Sale Of Non-Controlling Interests, Percent	0.50
Contributions from noncontrolling interests		325,000,000		336,000,000	325,000,000		1,047,000,000
Noncontrolling Interest Increase From Subsidiary Equity Issuance, including Carried Interest	$ 640,000,000
Venerable
Related Party Transaction [Line Items]
Equity investment method		206,000,000			206,000,000				240,000,000
Noncontrolling interests
Related Party Transaction [Line Items]
Subsidiary issuance of equity interests and other		585,000,000			585,000,000
Distributions to noncontrolling interests		(254,000,000)		0	(381,000,000)		0
Contributions from noncontrolling interests		325,000,000		336,000,000	325,000,000		$ 1,047,000,000
Related Party | Management fees associated with investment funds
Related Party Transaction [Line Items]
Investment expenses		249,000,000		195,000,000	703,000,000	563,000,000
Contingent Investment Fees
Related Party Transaction [Line Items]
Other liabilities		$ 206,000,000			$ 206,000,000				202,000,000
Athora | Related Party
Related Party Transaction [Line Items]
Day from receipt of notice of a cession		30 days			30 days
Athora | Related Party | Maximum
Related Party Transaction [Line Items]
Liabilities ceded (in percent)		0.50			0.50
Percentage of liabilities (in percent)		0.20			0.20
Percent of refusal to reinsure liabilities ceded from a third party (in percent)		0.20			0.20
Percent of fair market value of total assets of subsidiary (in percent)		0.03			0.03
Venerable | Reinsurance agreement recapture
Related Party Transaction [Line Items]
Provision for Loan, Lease, and Other Losses			$ 104,000,000
Payout annuities with life contingencies	$ 2,700,000,000
Other Nonrecurring Gain		$ 555,000,000
Apollo Aligned Alternatives, L.P.
Related Party Transaction [Line Items]
Assets contributed to consolidated VIEs					$ 0	8,007,000,000
Investments
Related Party Transaction [Line Items]
Investment commitment		$ 20,600,000,000			$ 20,600,000,000
Private equity
Related Party Transaction [Line Items]
Management Fee, Percent		0.045			0.045
Related Party
Related Party Transaction [Line Items]
Investment commitment								$ 3,300,000,000
Other investments		$ 327,000,000			$ 327,000,000				303,000,000
Investment funds		1,604,000,000			1,604,000,000				1,569,000,000
Interest sensitive contract liabilities		9,055,000,000			9,055,000,000				11,889,000,000
Available-for-sale securities		13,985,000,000			13,985,000,000				9,821,000,000
Other liabilities		606,000,000			606,000,000				564,000,000
Investment expenses		249,000,000		$ 195,000,000	703,000,000	$ 563,000,000
Payout annuities with life contingencies		3,000,000			3,000,000				1,353,000,000
Related Party | Management fees associated with investment funds
Related Party Transaction [Line Items]
Other liabilities		95,000,000			95,000,000				80,000,000
Related Party | MidCap affiliates
Related Party Transaction [Line Items]
Available-for-sale securities		1,826,000,000			$ 1,826,000,000				1,262,000,000
Related Party | Apollo | Sub-allocated assets
Related Party Transaction [Line Items]
Base Management Fee					0.225%
Incremental Fee					0.15%
Related Party | Apollo | Sub-allocated assets | Minimum
Related Party Transaction [Line Items]
Sub-allocation Fee					0.065%
Related Party | Apollo | Sub-allocated assets | Maximum
Related Party Transaction [Line Items]
Sub-allocation Fee					0.70%
Related Party | Athora
Related Party Transaction [Line Items]
Investment funds		1,043,000,000			$ 1,043,000,000				959,000,000
Equity Securities, FV-NI		239,000,000			239,000,000				273,000,000
Investments		$ 1,282,000,000			$ 1,282,000,000				1,232,000,000
Related Party | Venerable
Related Party Transaction [Line Items]
Investment Interest Rate		6.257%			6.257%
Related Party | Apollo Athene Strategic Partnership Advisors, LLC
Related Party Transaction [Line Items]
Investment funds		$ 1,739,000,000			$ 1,739,000,000				1,046,000,000
Strategic Partnership Capacity		$ 2,875,000,000			$ 2,875,000,000
Investment period of funds (in years)		3 years			3 years
Related Party | PK AirFinance
Related Party Transaction [Line Items]
Debt Securities		$ 1,656,000,000			$ 1,656,000,000				1,183,000,000
Related Party | Catalina Holdings (Bermuda) Ltd
Related Party Transaction [Line Items]
Other liabilities		213,000,000			213,000,000				142,000,000
Related Party | Atals
Related Party Transaction [Line Items]
Available-for-sale securities		1,007,000,000			1,007,000,000				0
Related Party | Wheels Donlen
Related Party Transaction [Line Items]
Available-for-sale securities		1,418,000,000			1,418,000,000				1,024,000,000
Related Party | Funding agreements | Athora
Related Party Transaction [Line Items]
Interest sensitive contract liabilities		58,000,000			58,000,000				59,000,000
Related Party | Investments | Athora
Related Party Transaction [Line Items]
Investment commitment		513,000,000			513,000,000
Related Party | Investments | PK AirFinance
Related Party Transaction [Line Items]
Investment commitment		1,472,000,000			1,472,000,000
Related Party | Investments | Wheels Donlen
Related Party Transaction [Line Items]
Investment commitment		306,000,000			306,000,000
Related Party | Private equity | Venerable
Related Party Transaction [Line Items]
Other investments		327,000,000			327,000,000				303,000,000
Related Party | Repurchase Agreements | Atals
Related Party Transaction [Line Items]
Investments		922,000,000			922,000,000				0
Parent Company | Apollo Global Management , Inc.
Related Party Transaction [Line Items]
Maximum borrowing capacity		500,000,000			500,000,000
Long-Term Line of Credit		0			0				0
Parent Company | Apollo Global Management , Inc. | Revolving Credit Facility
Related Party Transaction [Line Items]
Revolving note receivable, borrowing capacity		500,000,000			500,000,000
Intercompany Note Receivable		$ 112,000,000			$ 112,000,000				$ 78,000,000
ACRA
Related Party Transaction [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		63.45%			63.45%
Noncontrolling Interest, Ownership Percentage by Parent		36.55%			36.55%

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)	Feb. 23, 2023 close	Feb. 08, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)
Other Commitments [Line Items]
Investment period (in years)	5 years
Advances from FHLB	$ 6,700			$ 3,700
Letters of Credit Outstanding, Amount	1,326
Interest sensitive contract liabilities	189,065			173,616	$ 166,878
Number of closes | close		2
Related Party
Other Commitments [Line Items]
Investment commitment			$ 3,300
Interest sensitive contract liabilities	9,055			11,889
Other Commitment, to be Paid, Year Three			400
Other Commitment, to be Paid, Year Five			$ 2,900
Investments
Other Commitments [Line Items]
Investment commitment	20,600
Funding Agreement Backed Repurchase Agreements [Member]
Other Commitments [Line Items]
Interest sensitive contract liabilities	4,000			3,000
Athene Global Funding | Funding agreements
Other Commitments [Line Items]
Maximum borrowing capacity	14,200
Interest sensitive contract liabilities	$ 20,200			$ 21,000

Commitments and Contingencies_2

Commitments and Contingencies - Pledged Assets and Funds in Trust (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
AFS securities	$ 24,307	$ 15,366
Debt Securities, Trading, Restricted	163	55
Equity securities	77	38
Investment funds	193	103
Derivative assets pledged as collateral	88	65
Other investments	286	170
Restricted cash	1,218	628
Total restricted assets	37,202	25,394
Other Commitments [Line Items]
Short-term investments	68	120
Asset Pledged as Collateral
Commitments and Contingencies Disclosure [Abstract]
Mortgage loans, net of allowances	10,802	8,849
Other Commitments [Line Items]
Mortgage loans, net of allowances	$ 10,802	$ 8,849