Athene Holding (ATH-PC) 10-K 24 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Feb. 21, 2025	Jun. 30, 2024
Document Information [Line Items]
Entity Incorporation, State or Country Code	DE
Entity Registrant Name	ATHENE HOLDING LTD
Entity Address, Address Line One	7700 Mills Civic Pkwy
Entity Address, City or Town	West Des Moines
Entity Address, Postal Zip Code	50266
City Area Code	515
Local Phone Number	342-4678
Entity Interactive Data Current	Yes
Entity Central Index Key	0001527469
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Document Transition Report	false
Entity File Number	001-37963
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Public Float			$ 0
Entity Shell Company	false
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding		203,805,432
Entity Tax Identification Number	98-0630022
ICFR Auditor Attestation Flag	false
Entity Address, State or Province	IA
Document Financial Statement Error Correction [Flag]	false
Series A Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	6.35% Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series A
Trading Symbol	ATHPrA
Security Exchange Name	NYSE
Series B Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	5.625% Fixed-Rate Perpetual Non-Cumulative Preferred Stock, Series B
Trading Symbol	ATHPrB
Security Exchange Name	NYSE
Series C Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	6.375% Fixed-Rate Reset Perpetual Non-Cumulative Preferred Stock, 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 Preferred Stock, 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 Preferred Stock, Series E
Trading Symbol	ATHPrE
Security Exchange Name	NYSE
Junior Subordinated Debt
Document Information [Line Items]
Title of 12(b) Security	7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064
Trading Symbol	ATHS
Security Exchange Name	NYSE

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Auditor Information [Abstract]
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Des Moines, Iowa

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets
Available-for-sale securities	$ 184,491	$ 148,347
Investment funds	19,725	17,668
Derivative assets	8,154	5,298
Restricted Cash and Cash Equivalents	943
Accrued Investment Income Receivable	2,816	1,933
Reinsurance Recoverables, Including Reinsurance Premium Paid	8,194	4,154
Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Present Value of Future Profits	7,173	5,979
Goodwill	4,063	4,065
Other Assets	11,253	10,179
Assets, Total	363,343	300,579
Liabilities
Policyholder Contract Deposit	253,637	204,670
Liability for Future Policy Benefit, before Reinsurance	49,902	53,287
Long-term Debt	6,309	4,209
Derivative liabilities	3,556	1,995
Investment-related Liabilities	11,652	7,536
Liabilities, Total	337,469	279,344
Commitments and Contingencies (Note 16)
Equity
Additional Paid in Capital	19,588	19,499
Retained Earnings (Accumulated Deficit)	2,237	(92)
Accumulated other comprehensive income (loss)	(5,465)	(5,569)
Stockholders' Equity Attributable to Parent, Total	16,360	13,838
Stockholders' Equity Attributable to Noncontrolling Interest	9,514	7,397
Equity	25,874	21,235
Liabilities and Equity, Total	363,343	300,579
Market Risk Benefit, Liability, Amount	4,028	3,751
Asset Pledged as Collateral
Assets
Mortgage loans	27,883	14,257
Investment funds	777	409
Derivative assets	91	73
Short-term investments, at fair value	2	153
Other investments	1,507	313
Restricted Cash and Cash Equivalents	953	1,761
Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	165,364	134,338
Trading securities	1,583	1,706
Equity securities	1,290	1,293
Mortgage loans	63,239	44,115
Investment funds	107	109
Policy Loans	318	334
Funds withheld at interest	(18,866)	(24,359)
Derivative assets	8,154	5,298
Short-term investments, at fair value	447	341
Other investments	2,915	1,206
Related Party
Assets
Available-for-sale securities	19,127	14,009
Trading securities	573	838
Equity securities	234	318
Mortgage loans	1,297	1,281
Investment funds	1,853	1,632
Funds withheld at interest	(5,050)	(6,474)
Short-term investments, at fair value	743	947
Other investments	331	343
Accrued Investment Income Receivable	193	166
Reinsurance Recoverables, Including Reinsurance Premium Paid	4,309	0
Other Assets	203	189
Liabilities
Policyholder Contract Deposit	6,678	8,599
Liability for Future Policy Benefit, before Reinsurance	25	9
Other Liabilities	4,707	774
Equity
Accumulated other comprehensive income (loss)	(245)	(357)
Market Risk Benefit, Liability, Amount	239	227
Consolidated Entity, Affiliated Entity and VIE Primary Beneficiary
Assets
Trading securities	711	644
Mortgage loans	384	358
Investment funds	16,986	15,425
Other investments	86	80
Liabilities
Other Liabilities	374	513
Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Assets
Investments, Total	262,283	213,099
Consolidated Entity Excluding Variable Interest Entities (VIE)
Assets
Cash and Cash Equivalents, at Carrying Value	12,733	13,020
Liabilities
Other Liabilities	6,745	2,781
Variable Interest Entities
Assets
Trading securities	2,301	2,136
Mortgage loans	2,579	2,173
Investment funds	17,765	15,927
Other investments	884	103
Cash and Cash Equivalents, at Carrying Value	583	98
Restricted Cash and Cash Equivalents	10	0
Other Assets	565	110
Liabilities
Other Liabilities	1,640	1,115
Series A Preferred Stock
Equity
Preferred Stock, Value, Outstanding	0	0
Series B Preferred Stock
Equity
Preferred Stock, Value, Outstanding	0	0
Series C Preferred Stock
Equity
Preferred Stock, Value, Outstanding	0	0
Series D Preferred Stock
Equity
Preferred Stock, Value, Outstanding	0	0
Series E Preferred Stock
Equity
Preferred Stock, Value, Outstanding	0	0
Common Class A [Member]
Equity
Common Stock, Value, Issued	$ 0	$ 0

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 709	$ 591
Debt Securities, Available-for-sale, Amortized Cost	200,247	162,016
Investment funds	19,725	17,668
Restricted Cash and Cash Equivalents	943
Accrued Investment Income Receivable	2,816	1,933
Reinsurance Recoverables, Including Reinsurance Premium Paid	8,194	4,154
Other Assets	11,253	10,179
Policyholder Contract Deposit	253,637	204,670
Liability for Future Policy Benefit, before Reinsurance	49,902	53,287
Accumulated other comprehensive income (loss)	(5,465)	(5,569)
Goodwill	4,063	4,065
Market Risk Benefit, Liability, Amount	$ 4,028	$ 3,751
Series A Preferred Stock
Preferred Stock, Shares Issued	34,500	0
Preferred Stock, Shares Authorized	34,500	0
Preferred Stock, Shares Outstanding	34,500	0
Preferred Stock, Par or Stated Value Per Share	$ 1	$ 1
Preferred Stock, Liquidation Preference, Value	$ 863	$ 863
Preferred Stock, Value, Outstanding	$ 0	$ 0
Series B Preferred Stock
Preferred Stock, Shares Issued	13,800	0
Preferred Stock, Shares Authorized	13,800	0
Preferred Stock, Shares Outstanding	13,800	0
Preferred Stock, Par or Stated Value Per Share	$ 1	$ 1
Preferred Stock, Liquidation Preference, Value	$ 345	$ 345
Preferred Stock, Value, Outstanding	$ 0	$ 0
Series C Preferred Stock
Preferred Stock, Shares Issued	24,000	0
Preferred Stock, Shares Authorized	24,000	0
Preferred Stock, Shares Outstanding	24,000	0
Preferred Stock, Par or Stated Value Per Share	$ 1	$ 1
Preferred Stock, Liquidation Preference, Value	$ 600	$ 600
Preferred Stock, Value, Outstanding	$ 0	$ 0
Series D Preferred Stock
Preferred Stock, Shares Issued	23,000	0
Preferred Stock, Shares Authorized	23,000	0
Preferred Stock, Shares Outstanding	23,000	0
Preferred Stock, Par or Stated Value Per Share	$ 1	$ 1
Preferred Stock, Liquidation Preference, Value	$ 575	$ 575
Preferred Stock, Value, Outstanding	$ 0	$ 0
Series E Preferred Stock
Preferred Stock, Shares Issued	20,000	0
Preferred Stock, Shares Authorized	20,000	0
Preferred Stock, Shares Outstanding	20,000	0
Preferred Stock, Par or Stated Value Per Share	$ 1	$ 1
Preferred Stock, Liquidation Preference, Value	$ 500	$ 500
Preferred Stock, Value, Outstanding	$ 0	$ 0
Common Class A [Member]
Common stock outstanding (in shares)	203,800,000	203,800,000
Common stock issued (in shares)	203,800,000	203,800,000
Common stock, par value (in USD per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	425,000,000	425,000,000
Fair Value
Policyholder Contract Deposit	$ 192,025	$ 146,038
Fair Value | Recurring
Restricted Cash and Cash Equivalents	943	1,761
Reinsurance Recoverables, Including Reinsurance Premium Paid	1,661	1,367
Other Assets	313
Policyholder Contract Deposit	11,984	9,893
Liability for Future Policy Benefit, before Reinsurance	1,640	1,700
Market Risk Benefit, Liability, Amount	4,028	3,751
Variable Interest Entities
Trading securities	2,301	2,136
Mortgage loans	2,579	2,173
Investment funds	17,765	15,927
Other investments	884	103
Restricted Cash and Cash Equivalents	10	0
Cash and Cash Equivalents, at Carrying Value	583	98
Other Assets	565	110
Other Liabilities	1,640	1,115
Variable Interest Entities | Fair Value | Recurring
Trading securities	2,301	2,136
Mortgage loans	2,579	2,173
Investment funds	17,765	15,927
Other investments	107	103
Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale, Allowance for Credit Loss	708	590
Debt Securities, Available-for-sale, Amortized Cost	180,716	147,561
Trading securities	1,583	1,706
Mortgage loans	63,239	44,115
Investment funds	107	109
Funds withheld at interest	(18,866)	(24,359)
Short-term investments, at fair value	447	341
Other investments	2,915	1,206
Consolidated Entity, excluding Affiliated Entity | Recurring
Trading securities	1,583
Consolidated Entity, excluding Affiliated Entity | Fair Value
Investment funds	107	109
Funds withheld at interest	(21,901)	(27,738)
Short-term investments, at fair value	192
Other investments	101	52
Consolidated Entity, excluding Affiliated Entity | Fair Value | Recurring
Trading securities		1,706
Equity securities	1,290	935
Mortgage loans	63,239	44,115
Short-term investments, at fair value	255	341
Other investments	1,606	943
Embedded derivative assets, fair value	(3,035)	(3,379)
Consolidated Entity, Affiliated Entity and VIE Primary Beneficiary
Trading securities	711	644
Mortgage loans	384	358
Investment funds	16,986	15,425
Other investments	86	80
Other Liabilities	374	513
Consolidated Entity, Affiliated Entity and VIE Primary Beneficiary | Fair Value
Other investments	107	103
Related Party
Debt Securities, Available-for-sale, Allowance for Credit Loss	1	1
Debt Securities, Available-for-sale, Amortized Cost	19,531	14,455
Trading securities	573	838
Equity securities	234	318
Mortgage loans	1,297	1,281
Investment funds	1,853	1,632
Investment funds	1,139	1,082
Funds withheld at interest	(5,050)	(6,474)
Short-term investments, at fair value	743	947
Other investments	331	343
Accrued Investment Income Receivable	193	166
Reinsurance Recoverables, Including Reinsurance Premium Paid	4,309	0
Other Assets	203	189
Policyholder Contract Deposit	6,678	8,599
Liability for Future Policy Benefit, before Reinsurance	25	9
Other Liabilities	4,707	774
Accumulated other comprehensive income (loss)	(245)	(357)
Market Risk Benefit, Liability, Amount	239	227
Related Party | Fair Value
Investment funds	714	550
Funds withheld at interest	(5,665)	(7,195)
Short-term investments, at fair value	743	947
Related Party | Fair Value | Recurring
Trading securities	573	838
Equity securities	234	318
Mortgage loans	1,297	1,281
Investment funds	1,139	1,082
Other investments	331	343
Embedded derivative assets, fair value	$ (615)	$ (721)

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues [Abstract]
Premiums Earned, Net	$ 1,318	$ 12,749	$ 11,638
Insurance Commissions and Fees	1,016	848	718
Gain (Loss) on Investments	2,045	1,428	(12,706)
Other Income	19	591	(28)
Revenues, Total	20,689	28,194	7,623
Benefits, Losses and Expenses [Abstract]
Interest Sensitive Contract Benefits Expense	8,949	6,229	538
Policyholder Benefits and Claims Incurred, Net	3,054	14,434	12,465
Market Risk Benefit, Change in Fair Value, Gain (Loss)	(102)	404	(1,657)
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Amortization	941	688	444
Other Cost and Expense, Operating	2,213	1,848	1,495
Benefits, Losses and Expenses, Total	15,055	23,603	13,285
Income (loss) before income taxes	5,634	4,591	(5,662)
Income tax expense (benefit)	730	(1,161)	(646)
Net income (loss)	4,904	5,752	(5,016)
Less: Net income (loss) attributable to noncontrolling interests	1,443	1,087	(2,106)
Net income available to Athene Holding Ltd. shareholders	3,461	4,665	(2,910)
Less: Preferred stock dividends	181	181	141
Net Income (Loss) Available to Common Stockholder	(3,280)	(4,484)	3,051
Variable Interest Entities
Revenues [Abstract]
Net investment income	282	257	111
Gain (Loss) on Investments	1,528	1,191	319
Consolidated Entity Excluding Variable Interest Entities (VIE)
Revenues [Abstract]
Net investment income	14,481	11,130	$ 7,571
Gain (Loss) on Investments	$ 2,045	$ 1,428

Consolidated Statements of In_2

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Premiums	$ 1,318	$ 12,749	$ 11,638
Product charges	1,016	848	718
Investment income			8,373
Investment expense			802
Gain (Loss) on Investments	2,045	1,428	(12,706)
Interest Sensitive Contract Benefits Expense	8,949	6,229	538
Liability for Future Policy Benefit, Remeasurement Gain (Loss)	(16)	(53)	(15)
Future policy and other policy benefits	3,054	14,434	12,465
Policy and other operating expenses	2,213	1,848	1,495
Market Risk Benefit, Change in Fair Value, Gain (Loss)	(102)	404	(1,657)
Other Income	19	591	(28)
Variable Interest Entities
Gain (Loss) on Investments	1,528	1,191	319
Net investment income	282	257	111
Related Party
Premiums	20	17	261
Product charges	29	40	41
Investment income			1,403
Investment expense	1,269	987	775
Gain (Loss) on Investments	20	18	(1,670)
Interest Sensitive Contract Benefits Expense	(62)	171	19
Future policy and other policy benefits	23	46	291
Net investment income	1,648	1,636
Policy and other operating expenses	71	142	246
Market Risk Benefit, Change in Fair Value, Gain (Loss)	(22)	32	(122)
Other Income	15	569	0
Consolidated Entity, Affiliated Entity and VIE Primary Beneficiary
Gain (Loss) on Investments	1,578	1,227	542
Net investment income	63	40	19
Consolidated Entity Excluding Variable Interest Entities (VIE)
Investment income	15,833	12,196
Investment expense	1,352	1,066
Gain (Loss) on Investments	2,045	1,428
Net investment income	$ 14,481	$ 11,130	$ 7,571

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 4,904	$ 5,752	$ (5,016)
Other comprehensive income (loss), before tax
Unrealized investment gains (losses) on available-for-sale securities	(1,121)	5,284	(18,156)
Unrealized gains (losses) on hedging instruments	(51)	(199)	2
OCI, Liability for Future Policy Benefit, Gain (Loss), after Reclassification Adjustment, before Tax	1,425	(2,236)	8,425
OCI, Market Risk Benefit, Instrument-Specific Credit Risk, Gain (Loss), after Adjustments, before Tax	(149)	(374)	366
Foreign currency translation and other adjustments	(48)	40	(27)
Other comprehensive income (loss), before tax	56	2,515	(9,390)
Income tax expense (benefit) related to other comprehensive income (loss)	22	511	(1,933)
Other comprehensive income (loss)	34	2,004	(7,457)
Comprehensive income (loss)	4,938	7,756	(12,473)
Less: Comprehensive income (loss) attributable to noncontrolling interests	1,373	1,342	(2,242)
Comprehensive income (loss) available to Athene Holding Ltd. shareholders	$ 3,565	$ 6,414	$ (10,231)

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common stock	Additional paid-in capital	Retained earnings (accumulated deficit)	Accumulated other comprehensive income (loss)	Total Athene Holding Ltd. stockholders’ equity	Noncontrolling interests	Preferred stock	Preferred stock	Preferred stock Additional paid-in capital	Preferred stock Total Athene Holding Ltd. stockholders’ equity
Beginning Balance at Jan. 01, 2022	$ 22,546	$ 0	$ 20,270	$ 0	$ 0	$ 20,270	$ 2,276	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(5,016)			(2,910)		(2,910)	(2,106)
Other comprehensive income (loss)	(7,457)				(7,321)	(7,321)	(136)
Issuance of common shares, net of expenses									$ 487	$ 487	$ 487
Stock-based compensation allocation from parent	50		50			50
Dividends	(2,752)		(2,726)	(26)		(2,752)
Dividends, Common Stock	(563)			(563)		(563)
Adjustments to Additional Paid in Capital, Other	(38)		(38)			38
Noncontrolling Interests, Increase from Contributions from Noncontrolling Interests	1,047						1,047
Subsidiary issuance of equity interests	2,457						2,457
Preferred stock dividends	(141)			(141)		(141)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(63)						(63)
Ending Balance at Dec. 31, 2022	10,549	0	18,119	(3,640)	(7,321)	7,158	3,391	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other changes in equity of noncontrolling interests	(84)						(84)
Net income (loss)	5,752			4,665		4,665	1,087
Other comprehensive income (loss)	2,004				1,749	1,749	255
Stock-based compensation allocation from parent	79		79			79
Dividends, Common Stock	(937)			(937)		(937)
Adjustments to Additional Paid in Capital, Other	(1,290)		(1,290)			1,290
Noncontrolling Interests, Increase from Contributions from Noncontrolling Interests	996						996
Subsidiary issuance of equity interests	1,637						1,637
Preferred stock dividends	(181)			(181)		(181)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(539)						(539)
Subsidiary issuance of equity interests and other	585		11	1	3	15	570
Ending Balance at Dec. 31, 2023	21,235	0	19,499	(92)	(5,569)	13,838	7,397	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	4,904			3,461		3,461	1,443
Other comprehensive income (loss)	34				104	104	(70)
Stock-based compensation allocation from parent	43		43			43
Dividends, Common Stock	(951)			(951)		(951)
Adjustments to Additional Paid in Capital, Other	(52)		(52)			52
Noncontrolling Interests, Increase from Contributions from Noncontrolling Interests	954						954
Subsidiary issuance of equity interests	698						698
Preferred stock dividends	(181)			(181)		(181)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(920)						(920)
Subsidiary issuance of equity interests and other	6		(6)			(6)	12
Ending Balance at Dec. 31, 2024	$ 25,874	$ 0	$ 19,588	$ 2,237	$ (5,465)	$ 16,360	$ 9,514	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities
Net income (loss)		$ 4,904	$ 5,752	$ (5,016)
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Amortization		941	688	444
Gain on recapture of reinsurance agreements, net of cash received		0	(489)	0
Net amortization (accretion) of net investment premiums, discounts and other		(123)	81	285
Net investments (income) loss		(54)	(108)	(506)
Net recognized (gains) losses on investments and derivatives		(3,526)	(1,959)	5,949
Increase (Decrease) in Deferred Policy Acquisition Costs		(1,507)	(1,570)	(1,127)
Increase (Decrease) in Operating Capital [Abstract]
Increase (Decrease) in Accrued Investment Income Receivable		(883)	(575)	(370)
Increase (Decrease) in Interest Sensitive Contract Liabilities		5,677	3,917	(1,337)
Increase (Decrease) in Insurance Liabilities		(1,969)	4,333	3,901
Increase (Decrease) in Funds Held under Reinsurance Agreements		(1,560)	(3,411)	5,229
Increase (Decrease) in Other Operating Assets and Liabilities, Net		(24)	(1,676)	(1,194)
Net cash provided by operating activities		1,876	4,983	6,258
Sales, maturities and repayments of:
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale		42,898	14,484	18,564
Proceeds from Sale and Maturity of Debt and Equity Securities, FV-NI, Held-for-investment		1,013	390	217
Proceeds from sale of equity securities		404	167	389
Proceeds from Sale and Collection of Mortgage Notes Receivable		7,983	4,569	3,562
Proceeds from Investment Funds		525	360	1,704
Proceeds from Derivative Instrument, Investing Activities		3,876	4,324	3,123
Proceeds from Sale, Maturity and Collection of Short-term Investments		2,670	3,507	604
Purchases of:
Payments to Acquire Debt Securities, Available-for-sale		(80,212)	(37,263)	(36,684)
Payments to Acquire Trading Securities Held-for-investment		(895)	(2,718)	(915)
Payments to acquire equity securities		(644)	(116)	(441)
Payments to Acquire Mortgage Notes Receivable		(28,188)	(20,972)	(12,951)
Payments to Acquire Investment Funds		(2,694)	(2,461)	(5,755)
Payments for Derivative Instrument, Investing Activities		(5,032)	(5,637)	(3,008)
Payments to Acquire Short-term Investments		(2,555)	(2,612)	(2,632)
Cash Acquired from Acquisition		1	3	393
Deconsolidation of previously consolidated entities		(2)	(53)	(393)
Payments for (Proceeds from) Other Investing Activities		(1,066)	378	(152)
Net cash provided by (used in) investing activities		(61,918)	(43,650)	(34,375)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from Issuance of Long-term Debt		2,169	589	399
Proceeds from Contributions from Parent		0	1,250	0
Proceeds from Annuities and Investment Certificates		71,323	53,660	33,920
Repayments of Annuities and Investment Certificates		(19,119)	(14,125)	(10,209)
Payments for (Proceeds from) Derivative Instrument, Financing Activities		4,116	829	(330)
Proceeds from Issuance of Preferred Stock and Preference Stock		0	0	487
Payments to Noncontrolling Interests				(63)
Payments of Ordinary Dividends, Preferred Stock and Preference Stock		(226)	(136)	(141)
Payments of Ordinary Dividends, Common Stock		452	937	1,313
Proceeds from Noncontrolling Interests				1,047
Proceeds from (Payments for) Other Financing Activities		(317)	739	461
Net cash provided by financing activities		59,425	44,767	26,472
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents		(3)	10	(15)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total		(620)	6,110	(1,660)
Cash and cash equivalents at beginning of year	[1]	14,879	8,769	10,429
Cash and cash equivalents at end of year	[1]	14,259	14,879	8,769
Supplementary information
Income Taxes Paid, Net		930	216	821
Cash paid for interest		517	498	244
Noncash Investing and Financing Items [Abstract]
Reinsurance Agreements, Deposits on Investment Policies and Contracts		(4,057)	99	878
Reinsurance Agreements, Withdrawals on Investment Policies and Contracts		8,479	12,430	9,131
Assets contributed to consolidated VIEs				8,007
Reinsurance Settlements [Member]
Noncash Investing and Financing Items [Abstract]
Transfer to Investments		48	1,129	36
Reinsurance Settlements [Member] | Related Party
Noncash Investing and Financing Items [Abstract]
Transfer to Investments		48	65	0
Pension Risk Transfer Premiums [Member]
Noncash Investing and Financing Items [Abstract]
Transfer to Investments		521	4,776	4,185
Reinsurance Recapture
Noncash Investing and Financing Items [Abstract]
Transfer from Investments				0
Dividend Declared
Noncash Investing and Financing Items [Abstract]
Payments of Distributions to Affiliates		0	0	2,145
Reinsurance agreement
Noncash Investing and Financing Items [Abstract]
Transfer to Investments		0	2,158	0
Distribution of Marketable Securities to Stockholders as Dividends
Net Cash Provided by (Used in) Financing Activities [Abstract]
Payments of Ordinary Dividends, Common Stock		499	0	0
Investments distributed to noncontrolling interests
Net Cash Provided by (Used in) Financing Activities [Abstract]
Payments to Noncontrolling Interests		(1,107)	0	0
Third-party cedants
Noncash Investing and Financing Items [Abstract]
Transfer to Investments		0	145	612
Apollo Aligned Alternatives, L.P.
Noncash Investing and Financing Items [Abstract]
Assets contributed to consolidated VIEs		0	0
Variable Interest Entities
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from Noncontrolling Interests		1,897	1,809	2,214
Related Party
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Net investments (income) loss		82	(104)	(294)
Net recognized (gains) losses on investments and derivatives		(1,380)	(1,305)	(224)
Increase (Decrease) in Operating Capital [Abstract]
Increase (Decrease) in Accrued Investment Income Receivable		(27)	(61)	(51)
Increase (Decrease) in Interest Sensitive Contract Liabilities		80	131	(24)
Increase (Decrease) in Insurance Liabilities		(237)	6	41
Increase (Decrease) in Funds Held under Reinsurance Agreements		(230)	(371)	1,184
Sales, maturities and repayments of:
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale		6,937	2,081	4,197
Proceeds from Sale and Maturity of Debt and Equity Securities, FV-NI, Held-for-investment		346	156	79
Proceeds from sale of equity securities		67	0	6
Proceeds from Sale and Collection of Mortgage Notes Receivable		87	30	46
Proceeds from Investment Funds		507	301	1,543
Proceeds from Derivative Instrument, Investing Activities		0	0	184
Proceeds from Sale, Maturity and Collection of Short-term Investments		1,482	1,178	0
Purchases of:
Payments to Acquire Debt Securities, Available-for-sale		(11,714)	(4,817)	(4,035)
Payments to Acquire Trading Securities Held-for-investment		(158)	(866)	(156)
Payments to acquire equity securities		0	0	(208)
Payments to Acquire Mortgage Notes Receivable		(27)	0	(364)
Payments to Acquire Investment Funds		(2,397)	(2,334)	(4,738)
Payments for Derivative Instrument, Investing Activities		(16)	(46)	(266)
Payments to Acquire Short-term Investments		(1,277)	(2,061)	(33)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from Annuities and Investment Certificates		4	7	68
Repayments of Annuities and Investment Certificates		(396)	(402)	(350)
Noncash Investing and Financing Items [Abstract]
Reinsurance Agreements, Deposits on Investment Policies and Contracts		(4,119)	20	270
Reinsurance Agreements, Withdrawals on Investment Policies and Contracts		1,587	1,646	1,493
Related Party | Distribution of Marketable Securities to Stockholders as Dividends
Net Cash Provided by (Used in) Financing Activities [Abstract]
Payments of Ordinary Dividends, Common Stock		141
Consolidated Entity, excluding VIE Primary Beneficiary
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from subsidiary issuance of equity interests to noncontrolling interests				$ 0
Consolidated Entity Excluding Variable Interest Entities (VIE)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Payments to Noncontrolling Interests		(920)	(539)
Proceeds from subsidiary issuance of equity interests to noncontrolling interests		0	632
Proceeds from Noncontrolling Interests		$ 954	$ 996
[1] 1 Includes cash and cash equivalents, restricted cash and cash and cash equivalents of consolidated variable interest entities.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net investments (income) loss	$ (54)	$ (108)	$ (506)
Net recognized (gains) losses on investments and derivatives	(3,526)	(1,959)	5,949
Increase (Decrease) in Accrued Investment Income Receivable	(883)	(575)	(370)
Increase (Decrease) in Interest Sensitive Contract Liabilities	5,677	3,917	(1,337)
Increase (Decrease) in Insurance Liabilities	(1,969)	4,333	3,901
Increase (Decrease) in Funds Held under Reinsurance Agreements	(1,560)	(3,411)	5,229
Sales, maturities and repayments of:
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale	42,898	14,484	18,564
Trading securities	1,013	390	217
Proceeds from Sale and Collection of Mortgage Notes Receivable	7,983	4,569	3,562
Investment funds	525	360	1,704
Proceeds from Derivative Instrument, Investing Activities	3,876	4,324	3,123
Short-term investments	2,670	3,507	604
Purchases of:
Payments to Acquire Debt Securities, Available-for-sale	(80,212)	(37,263)	(36,684)
Payments to Acquire Mortgage Notes Receivable	(28,188)	(20,972)	(12,951)
Trading securities	(895)	(2,718)	(915)
Investment funds	(2,694)	(2,461)	(5,755)
Payments for Derivative Instrument, Investing Activities	(5,032)	(5,637)	(3,008)
Short-term investments	(2,555)	(2,612)	(2,632)
Proceeds from Annuities and Investment Certificates	71,323	53,660	33,920
Repayments of Annuities and Investment Certificates	(19,119)	(14,125)	(10,209)
Reinsurance Agreements, Deposits on Investment Policies and Contracts	(4,057)	99	878
Reinsurance Agreements, Withdrawals on Investment Policies and Contracts	8,479	12,430	9,131
Proceeds from sale of equity securities	404	167	389
Payments to acquire equity securities	(644)	(116)	(441)
Reduction in investments relating to recapture of reinsurance agreements	0	482
Reinsurance Settlements [Member]
Purchases of:
Transfer to Investments	48	1,129	36
Variable Interest Entities
Purchases of:
Repayments of Debt	0	52	0
Related Party
Net investments (income) loss	82	(104)	(294)
Net recognized (gains) losses on investments and derivatives	(1,380)	(1,305)	(224)
Increase (Decrease) in Accrued Investment Income Receivable	(27)	(61)	(51)
Increase (Decrease) in Interest Sensitive Contract Liabilities	80	131	(24)
Increase (Decrease) in Insurance Liabilities	(237)	6	41
Increase (Decrease) in Funds Held under Reinsurance Agreements	(230)	(371)	1,184
Sales, maturities and repayments of:
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale	6,937	2,081	4,197
Trading securities	346	156	79
Proceeds from Sale and Collection of Mortgage Notes Receivable	87	30	46
Investment funds	507	301	1,543
Proceeds from Derivative Instrument, Investing Activities	0	0	184
Short-term investments	1,482	1,178	0
Purchases of:
Payments to Acquire Debt Securities, Available-for-sale	(11,714)	(4,817)	(4,035)
Payments to Acquire Mortgage Notes Receivable	(27)	0	(364)
Trading securities	(158)	(866)	(156)
Investment funds	(2,397)	(2,334)	(4,738)
Payments for Derivative Instrument, Investing Activities	(16)	(46)	(266)
Short-term investments	(1,277)	(2,061)	(33)
Proceeds from Annuities and Investment Certificates	4	7	68
Repayments of Annuities and Investment Certificates	(396)	(402)	(350)
Reinsurance Agreements, Deposits on Investment Policies and Contracts	(4,119)	20	270
Reinsurance Agreements, Withdrawals on Investment Policies and Contracts	1,587	1,646	1,493
Proceeds from sale of equity securities	67	0	6
Payments to acquire equity securities	$ 0	$ 0	$ (208)

Business, Basis of Presentation

Business, Basis of Presentation, and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Business, Basis of Presentation, and Significant Accounting Policies	1. Business, Basis of Presentation and Significant Accounting Policies Athene Holding Ltd. (AHL), 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 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), Athene Annuity Re Ltd. (AARe) and Athene Life Re International Ltd. (ALReI); and • Athene USA Corporation, an Iowa corporation (together with its subsidiaries, AUSA). Consolidation and Basis of Presentation —Our consolidated financial statements include our wholly owned subsidiaries and investees in which we hold a controlling financial interest, including variable interest entities (VIEs). Investees in which we do not hold a controlling financial interest but have the ability to exercise significant influence over operating and financing decisions, other than investments for which we have elected the fair value option, are accounted for under the equity method. Intercompany balances and transactions have been eliminated. 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 consolidated financial statements. We report investments in related parties separately, as further described in the accounting policies that follow. We have prepared the consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (US GAAP), which requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. Actual experience could materially differ from these estimates and assumptions. Our principal estimates impact: • fair value of investments; • impairment of investments and allowances for expected credit losses; • derivatives valuation, including embedded derivatives; • future policy benefit reserves; • market risk benefit assets and liabilities; and • valuation allowances on deferred tax assets. Additional details around these principal estimates and assumptions are discussed in the significant accounting policies that follow and the related footnote disclosures. Merger – On January 1, 2022, we completed our merger with Apollo Global Management, Inc. (AGM, and together with its subsidiaries other than us or our subsidiaries, Apollo) and are now a direct subsidiary of AGM. We elected pushdown accounting in which we use AGM’s basis of accounting, which reflects the fair market value of our assets and liabilities at the time of the merger, unless otherwise prescribed by US GAAP. See Note 2 – Business Combination for further information on the merger. Summary of Significant Accounting Policies Investments Fixed Maturity Securities – Fixed maturity securities include bonds, collateralized loan obligations (CLO), asset-backed securities (ABS), residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS) and redeemable preferred stock. We classify fixed maturity securities as available-for-sale (AFS) or trading at the time of purchase and subsequently carry them at fair value. Fair value hierarchy and valuation methodologies are discussed in Note 6 – Fair Value . Classification is dependent on a variety of factors including our expected holding period, election of the fair value option and asset and liability matching. AFS Securities – AFS securities are held at fair value on the consolidated balance sheets, with unrealized gains and losses, exclusive of allowances for expected credit losses, generally reflected in accumulated other comprehensive income (loss) (AOCI) on the consolidated balance sheets. Unrealized gains or losses relating to identified risks within AFS securities in fair value hedging relationships are reflected in investment related gains (losses) on the consolidated statements of income (loss). Trading Securities – We elected the fair value option for certain fixed maturity securities. These fixed maturity securities are classified as trading, with changes to fair value included in investment related gains (losses) on the consolidated statements of income (loss). Although the securities are classified as trading, the trading activity related to these investments is primarily focused on asset and liability matching activities and is not intended to be an income strategy based on active trading. As such, the activity related to these investments on the consolidated statements of cash flows is classified as investing activities. We generally record security transactions on a trade date basis, with any unsettled trades recorded in other assets or other liabilities on the consolidated balance sheets. Bank loans, private placements and investment funds are recorded on a settlement date basis. Equity Securities – Equity securities include common stock, mutual funds and non-redeemable preferred stock. Equity securities with readily determinable fair values are carried at fair value with subsequent changes in fair value recognized in net income. We elected to account for certain equity securities without readily determinable fair values that did not qualify for the practical expedient to estimate fair values based on net asset value (NAV) per share (or its equivalent) at cost less impairment, subject to adjustments based on observable price changes in orderly transactions for identical or similar investments of the same issuer. Purchased Credit Deteriorated (PCD) Investments – We purchase certain structured securities, primarily RMBS, which upon our assessment have been determined to meet the definition of PCD investments. Additionally, structured securities classified as beneficial interests follow the initial measurement guidance for PCD investments if there is a significant difference between contractual cash flows adjusted for expected prepayments and expected cash flows at the date of recognition. The initial allowance for credit losses for PCD investments is recorded through a gross-up adjustment to the initial amortized cost. For structured securities classified as beneficial interests, the initial allowance is calculated as the present value of the difference between contractual cash flows adjusted for expected prepayments and expected cash flows at the date of recognition. The non-credit purchase discount or premium is amortized into investment income using the effective interest method. The credit discount, represented by the allowance for expected credit losses, is remeasured each period following the policies for measuring credit losses described in the Credit Losses – Available-for-Sale Securities section below. Mortgage Loans – We elected the fair value option on our mortgage loan portfolio. Interest income is accrued on the principal amount of the loan based on its contractual interest rate. We accrue interest on loans until it is probable we will not receive interest, or the loan is 90 days past due unless guaranteed by US government-sponsored agencies. Interest income and prepayment fees are reported in net investment income on the consolidated statements of income (loss). Changes in the fair value of the mortgage loan portfolio are reported in investment related gains (losses) on the consolidated statements of income (loss). Investment Funds – We invest in certain non-fixed income, alternative investments in the form of limited partnerships or similar legal structures (investment funds). For investment funds in which we do not hold a controlling financial interest, and therefore are not required to consolidate, we typically account for these investments using the equity method, where the cost is recorded as an investment in the fund, or we have elected the fair value option. Adjustments to the carrying amount reflect our pro rata ownership percentage of the operating results as indicated by NAV in the investment fund financial statements, which can be on a lag of up to three months when investee information is not received in a timely manner. We record our proportionate share of investment fund income within net investment income, or, for consolidated VIEs, investment related gains (losses), on the consolidated statements of income (loss). Contributions paid or distributions received by us are recorded directly to the investment fund balance as an increase to carrying value or as a return of capital, respectively. Policy Loans – Policy loans are funds provided to policyholders in return for a claim on the policyholder’s account balance. The funds provided are limited to a specified percentage of the account balance. The majority of policy loans do not have a stated maturity and the balances and accrued interest are repaid with proceeds from the policyholder’s account balance. Policy loans are reported at the unpaid principal balance. Interest income is recorded as earned using the contract interest rate and is reported in net investment income on the consolidated statements of income (loss). Funds Withheld at Interest – Funds withheld at interest represents a receivable for amounts contractually withheld by ceding companies in accordance with funds withheld coinsurance (funds withheld) and modified coinsurance (modco) reinsurance agreements in which we are the reinsurer. Generally, assets equal to statutory reserves are withheld and legally owned by the ceding company, and any excess or shortfall is settled periodically. The underlying agreements contain embedded derivatives as discussed below. Short-term Investments – Short-term investments consist of financial instruments with maturities of greater than three months but less than twelve months when purchased. Short-term debt securities are accounted for as trading or AFS consistent with our policies for those investments. Short-term loans are carried at amortized cost. Fair values are determined consistently with methodologies described in Note 6 – Fair Value for the respective investment type. Other Investments – Other investments include, but are not limited to, term loans collateralized by mortgages on residential and commercial real estate, other uncollateralized loans, investments in real estate and corporate owned life insurance. We elected the fair value option on the term loans and other uncollateralized loans. Investments in real estate are held at cost less accumulated depreciation and impairments. Corporate owned life insurance is held at cash surrender value. Interest income is accrued on the principal amount of the loan based on its contractual interest rate. We accrue interest on loans until it is probable we will not receive interest or the loan is 90 days past due. Changes in the cash surrender value of corporate owned life insurance, interest income, amortization of premiums and discounts, and prepayment and other fees are included in net investment income on the consolidated statements of income (loss). Changes in fair value are included in investment related gains (losses) on the consolidated statements of income (loss). Securities Repurchase and Reverse Repurchase Agreements – Securities repurchase and reverse repurchase transactions involve the temporary exchange of securities for cash or other collateral of equivalent value, with agreement to redeliver a like quantity of the same or similar securities at a future date and at a fixed and determinable price. We evaluate transfers of securities under these agreements to repurchase or resell to determine whether they satisfy the criteria for accounting treatment as secured borrowing or lending arrangements. Agreements not meeting the criteria would require recognition of the transferred securities as sales or purchases, with related forward repurchase or resale commitments. All of our securities repurchase transactions are accounted for as secured borrowings and are included in payables for collateral on derivatives and securities to repurchase on the consolidated balance sheets. Earnings from investing activities related to the cash received under our securities repurchase arrangements are included in net investment income on the consolidated statements of income (loss). The associated borrowing cost is included in policy and other operating expenses on the consolidated statements of income (loss). The investments purchased in reverse repurchase agreements, which represent collateral on a secured lending arrangement, are not reflected in our consolidated balance sheets; however, the secured lending arrangement is recorded as a short-term investment for the principal amount loaned under the agreement. Investment Income – We recognize investment income as it accrues or is legally due, net of investment management and custody fees. Investment income on fixed maturity securities includes coupon interest, as well as the amortization of any premium and the accretion of any discount. Investment income on equity securities represents dividend income and preferred coupon interest. Realized gains and losses on sales of investments are included in investment related gains (losses) on the consolidated statements of income (loss). Realized gains and losses on investments sold are determined based on a first-in first-out method. Credit Losses – Available-for-Sale Securities and Other – We evaluate AFS securities with a fair value that has declined below amortized cost to determine how the decline in fair value should be recognized. If we determine, based on the facts and circumstances related to the specific security, that we intend to sell a security or it is more likely than not that we would be required to sell a security before the recovery of its amortized cost, any existing allowance for expected credit losses is reversed and the amortized cost of the security is written down to fair value. If neither of these conditions exist, we evaluate whether the decline in fair value has resulted from a credit loss or other factors. For non-structured AFS securities, we qualitatively consider relevant facts and circumstances in evaluating whether a decline below fair value is credit - related. Relevant facts and circumstances include but are not limited to: (1) the extent to which the fair value is less than amortized cost; (2) changes in agency credit ratings, (3) adverse conditions related to the security’s industry or geographical area, (4) failure to make scheduled payments, and (5) other known changes in the financial condition of the issuer or quality of any underlying collateral or credit enhancements. For structured AFS securities meeting the definition of beneficial interests, the qualitative assessment is bypassed, and any securities having experienced a decline in fair value below amortized cost move directly to a quantitative analysis. If upon completion of this analysis it is determined that a potential credit loss exists, an allowance for expected credit losses is established equal to the amount by which the present value of expected cash flows is less than amortized cost, limited by the amount by which fair value is less than amortized cost. A non-structured security’s cash flow estimates are derived from scenario-based outcomes of expected corporate restructurings or the disposition of assets using security-specific facts and circumstances including timing, security interests and loss severity. A structured security’s cash flow estimates are based on security-specific facts and circumstances that may include collateral characteristics, expectations of delinquency and default rates, loss severity, prepayments and structural support, including subordination and guarantees. The expected cash flows are discounted at the effective interest rate implicit to the security at the date of purchase or the current yield to accrete a structured security. For securities with a contractual interest rate that varies based on changes in an independent factor, such as an index or rate, the effective interest rate is calculated based on the factor as it changes over the life of the security. Inherently under the discounted cash flow model, both the timing and amount of expected cash flows affect the measurement of the allowance for expected credit losses. The allowance for expected credit losses is remeasured each period for the passage of time, any change in expected cash flows, and changes in the fair value of the security. All impairments, whether intent or requirement to sell or credit-related, and all changes in the allowance for expected credit losses are recorded through the provision for credit losses within investment related gains (losses) on the consolidated statements of income (loss). We also establish an allowance for expected credit losses for assets held at amortized cost at the time of purchase, which includes certain other loans and reinsurance assets. The allowance for expected credit losses considers past events, current conditions, and reasonable and supportable forecasts of future economic conditions or macroeconomic forecasts. We use a quantitative probability of default and loss given default methodology to develop our estimate of expected credit loss. The provision for credit losses for reinsurance assets held at amortized cost is recorded through policy and other operating expenses on the consolidated statements of income (loss). We have elected to present accrued interest receivable separately in accrued investment income on the consolidated balance sheets. We have also elected the practical expedient to exclude the accrued interest receivable from the amortized cost balance used to calculate the allowance for expected credit losses, as we have a policy to write off such balances in a timely manner, when they become 90 days past due. Any write-off of accrued interest is recorded through a reversal of net investment income on the consolidated statements of income (loss). Upon determining that all or a portion of the amortized cost of an asset is uncollectible, which is generally when all efforts for collection are exhausted, the amortized cost is written off against the existing allowance. Any write off in excess of the existing allowance is recorded through the provision for credit losses within investment related gains (losses) on the consolidated statements of income (loss). Derivative Instruments —We invest in derivatives to hedge the risks experienced in our ongoing operations, such as equity, interest rate, foreign currency and market volatility , or for other risk management purposes, which primarily involve managing liability risks associated with our indexed annuity products and reinsurance agreements. Derivatives are financial instruments with values that are derived from interest rates, foreign exchange rates, financial indices or other combinations of an underlying and notional. Derivative assets and liabilities are carried at fair value on the consolidated balance sheets. We elect to present any derivatives subject to master netting provisions as a gross asset or liability and gross of collateral. Disclosures regarding balance sheet presentation of derivatives subject to master netting agreements are discussed in Note 4 – Derivative Instruments . We may designate derivatives as cash flow, fair value or net investment hedges. Hedge Documentation and Hedge Effectiveness – To qualify for hedge accounting, at the inception of the hedging relationship, we formally document our designation of the hedge as a cash flow, fair value or net investment hedge and our risk management objective and strategy for undertaking the hedging transaction. In this documentation, we identify how the hedging instrument is expected to hedge the designated risks related to the hedged item and the method that will be used to retrospectively and prospectively assess the hedge effectiveness and the method which will be used to measure ineffectiveness. A derivative designated as a hedging instrument must be assessed as being highly effective in offsetting the designated risk of the hedged item. Hedge effectiveness is formally assessed at inception and periodically throughout the life of the hedge accounting relationship. For a cash flow hedge, all changes in the fair value of the hedging derivative are reported within AOCI and the related gains or losses on the derivative are reclassified into the consolidated statements of income (loss) when the cash flows of the hedged item affect earnings. For a fair value hedge, changes in the fair value of the hedging derivative and changes in the fair value of the hedged item related to the designated risk being hedged are reported on the consolidated statements of income (loss) according to the nature of the risk being hedged. Additionally, changes in the fair value of amounts excluded from the assessment of effectiveness are recorded in AOCI and amortized into income over the life of the hedge accounting relationship. For a net investment hedge, changes in the fair value of the hedging derivative are reported within AOCI to offset the translation adjustments for subsidiaries with functional currencies other than the US dollar. We discontinue hedge accounting prospectively when: (1) we determine the derivative is no longer highly effective in offsetting changes in the estimated cash flows or fair value of a hedged item; (2) the derivative expires, is sold, terminated, or exercised; or (3) the derivative is de-designated as a hedging instrument. When hedge accounting is discontinued, the derivative continues to be carried on the consolidated balance sheets at fair value, with changes in fair value recognized in investment related gains (losses) on the consolidated statements of income (loss). For a derivative not designated as a hedge, changes in the derivative’s fair value and any income received or paid on derivatives at the settlement date are included in investment related gains (losses) on the consolidated statements of income (loss). Embedded Derivatives – We issue and reinsure products, primarily indexed annuity products, or purchase investments that contain embedded derivatives. If we determine the embedded derivative has economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, and a separate instrument with the same terms would qualify as a derivative instrument, the embedded derivative is bifurcated from the host contract and accounted for separately, unless the fair value option is elected on the host contract. Under the fair value option, bifurcation of the embedded derivative is not necessary as the entire contract is carried at fair value with all related gains and losses recognized in investment related gains (losses) on the consolidated statements of income (loss). Embedded derivatives are carried on the consolidated balance sheets at fair value in the same line item as the host contract. Fixed indexed annuity, index-linked variable annuity and indexed universal life insurance contracts allow the policyholder to elect a fixed interest rate return or an equity market component for which interest credited is based on the performance of certain equity market indices. The equity market option is an embedded derivative. The benefit reserve is equal to the sum of the fair value of the embedded derivative and the host (or guaranteed) component of the contracts. The fair value of the embedded derivatives represents the present value of cash flows attributable to the indexed strategies. The embedded derivative cash flows are based on assumptions for future policy growth, which include assumptions for expected index credits on the next policy anniversary date, future equity option costs, volatility, interest rates and policyholder behavior assumptions including lapses and the use of benefit riders. The embedded derivative cash flows are discounted using a rate that reflects our own credit rating. The host contract is established at contract inception as the initial account value less the initial fair value of the embedded derivative and accreted over the policy’s life. Contracts acquired through a business combination which contain an embedded derivative are re-bifurcated as of the acquisition date. Changes in the fair value of embedded derivatives associated with fixed indexed annuities, index-linked variable annuities and indexed universal life insurance contracts are included in interest sensitive contract benefits on the consolidated statements of income (loss). Additionally, reinsurance agreements written on a funds withheld or modco basis contain embedded derivatives. We have determined that the right to receive or obligation to pay the total return on the assets supporting the funds withheld at interest or funds withheld liability, respectively, represents a total return swap with a floating rate leg. The fair value of embedded derivatives on funds withheld and modco agreements is computed as the unrealized gain (loss) on the underlying assets and is included within funds withheld at interest for assumed agreements, and for ceded agreements the funds withheld liability is included in other liabilities on the consolidated balance sheets. The change in the fair value of the embedded derivatives is recorded in investment related gains (losses) on the consolidated statements of income (loss). Assumed and ceded earnings from funds withheld at interest, funds withheld liability and changes in the fair value of embedded derivatives are reported in operating activities on the consolidated statements of cash flows. Contributions to and withdrawals from funds withheld at interest and funds withheld liability are reported in operating activities on the consolidated statements of cash flows. Variable Interest Entities —An entity that does not have sufficient equity to finance its activities without additional financial support, or in which the equity investors, as a group, do not have the characteristics typically afforded to common stockholders is a VIE. The determination as to whether an entity qualifies as a VIE depends on the facts and circumstances surrounding each entity and may require significant judgment. Our investment funds typically qualify as VIEs and are evaluated for consolidation under the VIE model. We are required to consolidate a VIE if we are the primary beneficiary, defined as the variable interest holder with both the power to direct the activities that most significantly impact the VIE’s economic performance and rights to receive benefits or obligations to absorb losses that could be potentially significant to the VIE. We determine whether we are the primary beneficiary of an entity based on a qualitative assessment of the VIE’s capital structure, contractual terms, nature of the VIE’s operations and purpose and our relative exposure to the related risks of the VIE. Since affiliates of AGM, a related party under common control, are the decision makers in certain of the investment funds and securitization vehicles, we and a member of our related party group may together have the characteristics of the primary beneficiary of an investment fund. In this situation, we have concluded we consolidate the VIE when we have significant economic exposure to the entity. We reassess the VIE and primary beneficiary determinations on an ongoing basis. For entities that we do not consolidate but can exercise significant influence over the entities’ operating and financing decisions, we record our investment under the equity method. If we do not consolidate and do not have significant influence, generally on investment funds in which we own a less than 3% interest, we elect the fair value option. See Note 5 – Variable Interest Entities for discussion of our interest in entities that meet the definition of a VIE. Goodwill —Goodwill represents the excess of cost over the fair value of identifiable net assets of an acquired business. Goodwill is tested annually for impairment or more frequently if circumstances indicate impairment may have occurred. The impairment test is performed at the reporting unit level. Goodwill on the consolidated balance sheets includes the impacts of foreign currency translation. We performed our annual goodwill impairment test as of October 1, 2024 and did not identify any impairment. See Note 2 – Business Combination for disclosure regarding the goodwill recorded related to our merger with AGM. Reinsurance —We assume or cede insurance and investment contracts under coinsurance, funds withheld, modco and yearly renewable term bases. 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 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. See Note 7 – Reinsurance for more information. Assets and liabilities assumed or ceded under coinsurance, funds withheld, modco or yearly renewable term are presented gross on the 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 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 consolidated statements of income (loss), except any changes related to the discount rate are presented net in other comprehensive income (loss) (OCI)

Business Combination

Business Combination	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Combination Disclosure [Text Block]	2. 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 During the fourth quarter of 2022, we finalized pushdown accounting. Adjustments to provisional amounts were made prospectively as data became available based on facts and circumstances that existed as of the merger date. The income effects from changes to provisional amounts were recorded in the period the adjustment was made, as if the adjustment had been recorded on the merger date. During the year ended December 31, 2022, we made adjustments which decreased provisional goodwill by $108 million. The adjustments were comprised of $25 million for measurement period adjustments and $83 million to adjust a valuation of an investment. The measurement period adjustments were primarily related to decreases in interest sensitive contract liabilities, future policy benefits and VOBA, and the income statement effects were immaterial to those periods. 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. Goodwill on the consolidated balance sheets includes the impacts of foreign currency translation. We also recorded VOBA and other identifiable intangible assets. Other identifiable intangible assets are included in other assets on the 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 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	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	3. Investments AFS 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: December 31, 2024 (In millions) Amortized Cost Allowance for Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value AFS securities US government and agencies $ 8,413 $ — $ 8 $ (1,270) $ 7,151 US state, municipal and political subdivisions 1,167 — — (246) 921 Foreign governments 2,082 — — (514) 1,568 Corporate 95,006 (175) 485 (11,731) 83,585 CLO 29,524 — 266 (608) 29,182 ABS 24,779 (76) 138 (640) 24,201 CMBS 11,158 (60) 75 (432) 10,741 RMBS 8,587 (397) 228 (403) 8,015 Total AFS securities 180,716 (708) 1,200 (15,844) 165,364 AFS securities – related parties Corporate 2,502 — 18 (59) 2,461 CLO 6,130 — 18 (113) 6,035 ABS 10,899 (1) 21 (288) 10,631 Total AFS securities – related parties 19,531 (1) 57 (460) 19,127 Total AFS securities, including related parties $ 200,247 $ (709) $ 1,257 $ (16,304) $ 184,491 December 31, 2023 (In millions) Amortized Cost Allowance for Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value AFS securities US government and agencies $ 6,161 $ — $ 67 $ (829) $ 5,399 US state, municipal and political subdivisions 1,296 — — (250) 1,046 Foreign governments 2,083 — 71 (255) 1,899 Corporate 88,343 (129) 830 (10,798) 78,246 CLO 20,506 (2) 261 (558) 20,207 ABS 13,942 (49) 120 (630) 13,383 CMBS 7,070 (29) 52 (502) 6,591 RMBS 8,160 (381) 252 (464) 7,567 Total AFS securities 147,561 (590) 1,653 (14,286) 134,338 AFS securities – related parties Corporate 1,423 — 1 (72) 1,352 CLO 4,367 — 21 (120) 4,268 ABS 8,665 (1) 34 (309) 8,389 Total AFS securities – related parties 14,455 (1) 56 (501) 14,009 Total AFS securities, including related parties $ 162,016 $ (591) $ 1,709 $ (14,787) $ 148,347 The amortized cost and fair value of AFS securities, including related parties, are shown by contractual maturity below: December 31, 2024 (In millions) Amortized Cost Fair Value AFS securities Due in one year or less $ 2,576 $ 2,544 Due after one year through five years 19,949 19,418 Due after five years through ten years 27,734 25,442 Due after ten years 56,409 45,821 CLO, ABS, CMBS and RMBS 74,048 72,139 Total AFS securities 180,716 165,364 AFS securities – related parties Due after one year through five years 1,080 1,071 Due after five years through ten years 847 861 Due after ten years 575 529 CLO and ABS 17,029 16,666 Total AFS securities – related parties 19,531 19,127 Total AFS securities, including related parties $ 200,247 $ 184,491 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: December 31, 2024 Less than 12 months 12 months or more Total (In millions) Fair Value Gross Fair Value Gross Fair Value Gross AFS securities US government and agencies $ 3,010 $ (114) $ 3,462 $ (1,156) $ 6,472 $ (1,270) US state, municipal and political subdivisions 67 (3) 842 (243) 909 (246) Foreign governments 830 (205) 738 (309) 1,568 (514) Corporate 19,530 (673) 44,051 (10,997) 63,581 (11,670) CLO 2,675 (48) 2,325 (215) 5,000 (263) ABS 9,361 (155) 4,070 (309) 13,431 (464) CMBS 1,868 (56) 1,773 (315) 3,641 (371) RMBS 825 (13) 1,261 (157) 2,086 (170) Total AFS securities 38,166 (1,267) 58,522 (13,701) 96,688 (14,968) AFS securities – related parties Corporate 499 (9) 446 (47) 945 (56) CLO 586 (10) 544 (56) 1,130 (66) ABS 2,533 (43) 3,355 (235) 5,888 (278) Total AFS securities – related parties 3,618 (62) 4,345 (338) 7,963 (400) Total AFS securities, including related parties $ 41,784 $ (1,329) $ 62,867 $ (14,039) $ 104,651 $ (15,368) December 31, 2023 Less than 12 months 12 months or more Total (In millions) Fair Value Gross Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses AFS securities US government and agencies $ 2,013 $ (94) $ 2,389 $ (735) $ 4,402 $ (829) US state, municipal and political subdivisions 123 (5) 888 (245) 1,011 (250) Foreign governments 690 (13) 760 (242) 1,450 (255) Corporate 7,752 (474) 50,028 (10,311) 57,780 (10,785) CLO 689 (2) 11,579 (543) 12,268 (545) ABS 2,129 (75) 4,378 (458) 6,507 (533) CMBS 859 (12) 1,967 (406) 2,826 (418) RMBS 467 (9) 2,057 (263) 2,524 (272) Total AFS securities 14,722 (684) 74,046 (13,203) 88,768 (13,887) AFS securities – related parties Corporate 548 (35) 382 (37) 930 (72) CLO 397 (16) 2,592 (102) 2,989 (118) ABS 2,008 (66) 2,793 (225) 4,801 (291) Total AFS securities – related parties 2,953 (117) 5,767 (364) 8,720 (481) Total AFS securities, including related parties $ 17,675 $ (801) $ 79,813 $ (13,567) $ 97,488 $ (14,368) 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: December 31, 2024 Unrealized loss position Unrealized loss position 12 months or more AFS securities 7,745 6,087 AFS securities – related parties 144 60 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 by asset type: Year ended December 31, 2024 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 Corporate $ 129 $ 48 $ — $ (8) $ — $ 6 $ 175 CLO 2 1 — — — (3) — ABS 49 25 — (16) — 18 76 CMBS 29 27 — — — 4 60 RMBS 381 17 — (17) — 16 397 Total AFS securities 590 118 — (41) — 41 708 AFS securities – related parties, ABS 1 — — — — — 1 Total AFS securities, including related parties $ 591 $ 118 $ — $ (41) $ — $ 41 $ 709 Year ended December 31, 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) (15) 3 129 CLO 7 1 — — — (6) 2 ABS 29 23 — (4) — 1 49 CMBS 5 26 — — — (2) 29 RMBS 329 16 53 (16) — (1) 381 Total AFS securities 458 154 53 (55) (15) (5) 590 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 $ 155 $ 53 $ (55) $ (15) $ (6) $ 591 Net Investment Income —Net investment income by asset class consists of the following: Years ended December 31, (In millions) 2024 2023 2022 AFS securities $ 9,698 $ 6,901 $ 4,190 Trading securities 161 182 194 Equity securities 90 76 64 Mortgage loans 3,767 2,360 1,261 Investment funds (35) 105 550 Funds withheld at interest 1,318 1,752 1,844 Other 834 820 270 Investment revenue 15,833 12,196 8,373 Investment expenses (1,352) (1,066) (802) Net investment income $ 14,481 $ 11,130 $ 7,571 Investment Related Gains (Losses) —Investment related gains (losses) by asset class consists of the following: Years ended December 31, (In millions) 2024 2023 2022 AFS securities 1 Gross realized gains on investment activity $ 977 $ 926 $ 1,337 Gross realized losses on investment activity (1,979) (779) (2,151) Net realized investment gains (losses) on AFS securities (1,002) 147 (814) Net recognized investment gains (losses) on trading securities (170) 66 (424) Net recognized investment gains (losses) on equity securities 22 13 (150) Net recognized investment gains (losses) on mortgage loans (132) 207 (2,974) Derivative gains (losses) 2,205 2,135 (9,173) Provision for credit losses (181) (335) (227) Other gains (losses) 1,303 (805) 1,056 Investment related gains (losses) $ 2,045 $ 1,428 $ (12,706) 1 Includes the effects of recognized gains or losses on AFS securities associated with designated hedges. Proceeds from sales of AFS securities were $21,689 million, $6,464 million and $9,421 million for the years ended December 31, 2024, 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 year end: Years ended December 31, (In millions) 2024 2023 2022 Trading securities $ (42) $ 93 $ (414) Equity securities 12 49 (146) Repurchase Agreements —The following table summarizes the remaining contractual maturities of our repurchase agreements: December 31, (In millions) 2024 2023 Less than 30 days $ 2,752 $ 686 30–90 days 300 — 91 days to 1 year 1,095 — Greater than 1 year 1,569 3,167 Payables for repurchase agreements $ 5,716 $ 3,853 The following table summarizes the securities pledged as collateral for repurchase agreements: December 31, 2024 2023 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value AFS securities US government and agencies $ 3,253 $ 2,693 $ — $ — Foreign governments 159 107 137 99 Corporate 1,877 1,573 2,735 2,307 CLO 587 588 580 579 ABS 596 552 1,207 1,086 RMBS 369 365 — — Total securities pledged under repurchase agreements $ 6,841 $ 5,878 $ 4,659 $ 4,071 Reverse Repurchase Agreements — As of December 31, 2024 and 2023, amounts loaned under reverse repurchase agreements were $935 million and $947 million, respectively, and the fair value of the collateral, comprised primarily of asset-backed securities and commercial mortgage loans, was $2,208 million and $1,504 million, respectively. Mortgage Loans, including related parties and consolidated VIEs —Mortgage loans include both commercial and residential loans. We have elected the fair value option on our mortgage loan portfolio. See Note 6 – 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: December 31, (In millions) 2024 2023 Commercial mortgage loans $ 32,544 $ 27,630 Commercial mortgage loans under development 1,987 1,228 Total commercial mortgage loans 34,531 28,858 Mark to fair value (2,099) (2,246) Commercial mortgage loans 32,432 26,612 Residential mortgage loans 35,223 21,894 Mark to fair value (540) (937) Residential mortgage loans 34,683 20,957 Mortgage loans $ 67,115 $ 47,569 We invest in commercial mortgage loans, primarily 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 whether 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: December 31, 2024 2023 (In millions, except percentages) Fair Value Percentage of Total Fair Value Percentage of Total Property type Apartment $ 11,746 36.2 % $ 9,591 36.0 % Industrial 6,793 21.0 % 4,143 15.6 % Office building 4,162 12.8 % 4,455 16.7 % Hotels 2,786 8.6 % 2,913 11.0 % Retail 2,269 7.0 % 2,158 8.1 % Other commercial 4,676 14.4 % 3,352 12.6 % Total commercial mortgage loans $ 32,432 100.0 % $ 26,612 100.0 % US region East North Central $ 1,546 4.8 % $ 1,517 5.7 % East South Central 438 1.3 % 523 2.0 % Middle Atlantic 8,386 25.9 % 7,147 26.9 % Mountain 1,322 4.1 % 1,196 4.5 % New England 1,118 3.4 % 1,295 4.9 % Pacific 5,768 17.8 % 4,860 18.3 % South Atlantic 6,198 19.1 % 4,583 17.2 % West North Central 221 0.7 % 249 0.9 % West South Central 1,971 6.1 % 1,228 4.6 % Total US region 26,968 83.2 % 22,598 85.0 % International region United Kingdom 2,281 7.0 % 2,343 8.7 % Other international 1 3,183 9.8 % 1,671 6.3 % Total international region 5,464 16.8 % 4,014 15.0 % Total commercial mortgage loans $ 32,432 100.0 % $ 26,612 100.0 % 1 Represents all other countries, with each individual country comprising less than 5% of the portfolio. Our residential mortgage loan portfolio primarily consists of first lien residential mortgage loans collateralized by properties in various geographic locations and is summarized by proportion of the portfolio in the following table: December 31, 2024 2023 US States California 25.6 % 27.6 % Florida 12.4 % 12.0 % Texas 7.4 % 6.1 % New York 4.7 % 5.9 % Other 1 40.8 % 39.4 % Total US residential mortgage loan percentage 90.9 % 91.0 % International United Kingdom 4.4 % 4.0 % Other 1 4.7 % 5.0 % Total international residential mortgage loan percentage 9.1 % 9.0 % Total residential mortgage loan percentage 100.0 % 100.0 % 1 Represents all other states or countries, with each individual state or country comprising less than 5% of the portfolio. Investment Funds —Our investment fund portfolio strategy primarily focuses on core holdings of strategic origination and retirement services platforms, equity and credit, and other funds. Strategic origination platforms include investments sourced by affiliated platforms that originate loans to third parties and in which we gain exposure directly to the loan or indirectly through our ownership of the origination platform and/or securitizations of assets originated by the origination platform. Retirement services platforms include investments in equity of financial services companies. Our credit strategy comprises direct origination, asset-backed, multi-credit and opportunistic credit funds focused on generating excess returns through high-quality credit underwriting and origination. Our equity strategy comprises private equity, hybrid value, secondaries equity, real estate equity, impact investing, infrastructure and clean transition equity funds that raise capital from investors to pursue control-oriented investments across the universe of private assets. Our investment funds can meet the definition of a VIE, which are discussed further in Note 5 – 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 : December 31, 2024 2023 1 (In millions, except percentages) Carrying value Percentage of total Carrying value Percentage of total Investment funds Equity $ 107 0.5 % $ 109 0.6 % Investment funds – related parties Strategic origination platforms 29 0.2 % 32 0.2 % Retirement services platforms 1,317 6.7 % 1,300 7.3 % Equity 244 1.2 % 267 1.5 % Credit 253 1.3 % 20 0.1 % Other 10 0.1 % 13 0.1 % Total investment funds – related parties 1,853 9.5 % 1,632 9.2 % Investment funds – consolidated VIEs Strategic origination platforms 6,347 32.2 % 4,987 28.2 % Retirement services platforms — — % 483 2.7 % Equity 7,702 39.0 % 7,032 39.8 % Credit 3,062 15.5 % 2,852 16.2 % Other 654 3.3 % 573 3.3 % Total investment funds – consolidated VIEs 17,765 90.0 % 15,927 90.2 % Total investment funds, including related parties and consolidated VIEs $ 19,725 100.0 % $ 17,668 100.0 % 1 Prior year amounts have been reclassified to conform with the current year presentation as a result of aligning our investment fund categories to reflect our updated investment strategies. 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 structure 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 and classified as AFS or trading securities on the consolidated balance sheets. 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: December 31, 2024 2023 (In millions) Carrying Value Maximum Loss Exposure Carrying Value Maximum Loss Exposure Investment funds $ 107 $ 987 $ 109 $ 876 Investment in related parties – investment funds 1,853 3,226 1,632 2,377 Assets of consolidated VIEs – investment funds 17,765 23,597 15,927 22,240 Investment in fixed maturity securities 72,523 74,797 48,155 50,623 Investment in related parties – fixed maturity securities 17,239 21,793 13,495 15,608 Investment in related parties – equity securities 234 234 318 318 Total non-consolidated investments $ 109,721 $ 124,634 $ 79,636 $ 92,042 Concentrations —The following table represents our investment concentrations in excess of 10% of AHL stockholders’ equity: (In millions) December 31, 2024 AP Grange Holdings, LLC $ 4,661 Atlas Securitized Products Holdings LP (Atlas) 1 3,172 Fox Hedge L.P. 2,924 December 31, 2023 Wheels, Inc. (Wheels) 1 $ 1,591 AT&T Inc. 1,526 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 15 – Related Parties.

Derivative Instruments

Derivative Instruments	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	4. Derivative Instruments We use a variety of derivative instruments to manage risks, primarily equity, interest rate, foreign currency and market volatility. See Note 1 – Business, Basis of Presentation and Significant Accounting Policies for a description of our accounting policies for derivatives and Note 6 – Fair Value for information about the fair value hierarchy for derivatives. The following table presents the notional amount and fair value of derivative instruments: December 31, 2024 2023 Notional Amount Fair Value Notional Amount Fair Value (In millions) Assets Liabilities Assets Liabilities Derivatives designated as hedges Foreign currency hedges Swaps 15,669 $ 938 $ 211 9,034 $ 477 $ 230 Forwards 3,139 331 5 6,294 275 102 Interest rate swaps 4,506 — 654 4,468 — 521 Forwards on net investments 218 11 — 219 — 6 Interest rate swaps 24,885 55 138 10,031 29 95 Total derivatives designated as hedges 1,335 1,008 781 954 Derivatives not designated as hedges Equity options 85,452 5,002 126 73,881 3,809 102 Futures 37 93 11 35 72 — Foreign currency swaps 14,908 600 199 8,072 230 244 Interest rate swaps and forwards 3,255 67 124 3,499 81 9 Other swaps 2,644 3 5 2,588 39 1 Foreign currency forwards 39,598 1,054 2,083 28,236 286 685 Embedded derivatives Funds withheld including related parties (3,650) 4 (4,100) (64) Interest sensitive contract liabilities — 11,242 — 9,059 Total derivatives not designated as hedges 3,169 13,794 417 10,036 Total derivatives $ 4,504 $ 14,802 $ 1,198 $ 10,990 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 2031. During the years ended December 31, 2024, 2023 and 2022 we recognized gains of $1 million and $33 million, and losses of $106 million, respectively, in OCI associated with these hedges. There were no amounts deemed ineffective during the years ended December 31, 2024, 2023 and 2022. As of December 31, 2024, no amounts were 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: December 31, 2024 2023 (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 $ 3,790 $ (258) $ 4,883 $ (15) Foreign currency swaps 12,517 (842) 6,820 (141) Interest sensitive contract liabilities Foreign currency swaps 2,426 130 1,438 19 Foreign currency interest rate swaps 3,946 488 4,010 363 Interest rate swaps 17,873 130 6,910 189 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: Amounts excluded (In millions) Derivatives Hedged items Net Recognized in income through amortization approach Recognized in income through changes in fair value Year ended December 31, 2024 Investment related gains (losses) Foreign currency forwards $ 220 $ (238) $ (18) $ 43 $ 19 Foreign currency swaps 513 (520) (7) — — Foreign currency interest rate swaps (160) 148 (12) — — Interest rate swaps 6 (58) (52) — — Interest sensitive contract benefits Foreign currency interest rate swaps 87 (85) 2 — — Year ended December 31, 2023 Investment related gains (losses) Foreign currency forwards (169) 167 (2) 82 20 Foreign currency swaps (159) 169 10 — — Foreign currency interest rate swaps 282 (269) 13 — — Interest rate swaps 111 (118) (7) — — Interest sensitive contract benefits Foreign currency interest rate swaps 57 (60) (3) — — Year ended December 31, 2022 Investment related gains (losses) Foreign currency forwards 183 (190) (7) 67 9 Foreign currency swaps 286 (310) (24) — — Foreign currency interest rate swaps (622) 632 10 — — Interest rate swaps (332) 323 (9) — — Interest sensitive contract benefits Foreign currency interest rate swaps 52 (53) (1) — — The following is a summary of the gains (losses) excluded from the assessment of hedge effectiveness that were recognized in OCI : Years ended December 31, (In millions) 2024 2023 2022 Foreign currency forwards $ (23) $ (45) $ 20 Foreign currency swaps (29) (187) 88 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 years ended December 31, 2024, 2023 and 2022, these derivatives had gains of $3 million, losses of $4 million and gains of $30 million, respectively. These derivatives are included in foreign currency translation and other adjustments on the consolidated statements of comprehensive income (loss). As of December 31, 2024 and 2023, the cumulative foreign currency translations recorded in AOCI related to these net investment hedges were gains of $29 million and $26 million, respectively. During the years ended December 31, 2024, 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, including the S&P 500 and other bespoke indices. 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 and forwards – We use interest rate swaps and forwards 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, credit default swaps and swaptions. 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. Swaptions provide an option to enter into an interest rate swap and are used to hedge against interest rate exposure. 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: Years ended December 31, (In millions) 2024 2023 2022 Equity options $ 1,921 $ 1,564 $ (2,647) Futures 72 73 (144) Interest rate swaps and forwards and other swaps 344 (108) 56 Foreign currency forwards (775) (495) 505 Embedded derivatives on funds withheld 2 934 (6,534) Amounts recognized in investment related gains (losses) 1,564 1,968 (8,764) Embedded derivatives in indexed annuity products 1 (174) (1,443) 2,768 Total gains (losses) on derivatives not designated as hedges $ 1,390 $ 525 $ (5,996) 1 Included in interest sensitive contract benefits on the 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 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 December 31, 2024 Derivative assets $ 8,154 $ (2,209) $ (5,922) $ 23 $ — $ 23 Derivative liabilities (3,556) 2,209 1,333 (14) 2 (12) December 31, 2023 Derivative assets $ 5,298 $ (1,497) $ (3,676) $ 125 $ — $ 125 Derivative liabilities (1,995) 1,497 848 350 — 350 1 The gross amounts of recognized derivative assets and derivative liabilities are reported on the consolidated balance sheets. As of December 31, 2024 and 2023, 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 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	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	5. 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: Years ended December 31, (In millions) 2024 2023 2022 Trading securities $ 152 $ 116 $ 34 Mortgage loans 128 110 88 Investment funds 46 41 9 Other (44) (10) (20) Net investment income $ 282 $ 257 $ 111 Net recognized investment gains (losses) on trading securities $ 17 $ 10 $ (66) Net recognized investment losses on mortgage loans (35) (22) (250) Net recognized investment gains on investment funds 1,552 1,232 552 Other gains (losses) (6) (29) 83 Investment related gains (losses) $ 1,528 $ 1,191 $ 319

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value	6. 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: December 31, 2024 (In millions) Total NAV Level 1 Level 2 Level 3 Assets AFS securities US government and agencies $ 7,151 $ — $ 7,149 $ 2 $ — US state, municipal and political subdivisions 921 — — 921 — Foreign governments 1,568 — 658 881 29 Corporate 83,585 — 11 79,253 4,321 CLO 29,182 — — 29,182 — ABS 24,201 — — 7,672 16,529 CMBS 10,741 — — 10,741 — RMBS 8,015 — — 7,759 256 Total AFS securities 165,364 — 7,818 136,411 21,135 Trading securities 1,583 — 22 1,539 22 Equity securities 1,290 — 190 1,073 27 Mortgage loans 63,239 — — — 63,239 Funds withheld at interest – embedded derivative (3,035) — — — (3,035) Derivative assets 8,154 — 121 8,032 1 Short-term investments 255 — — 86 169 Other investments 1,606 — — 711 895 Cash and cash equivalents 12,733 — 12,733 — — Restricted cash 943 — 943 — — Investments in related parties AFS securities Corporate 2,461 — — 1,029 1,432 CLO 6,035 — — 5,339 696 ABS 10,631 — — 890 9,741 Total AFS securities – related parties 19,127 — — 7,258 11,869 Trading securities 573 — — — 573 Equity securities 234 — — — 234 Mortgage loans 1,297 — — — 1,297 Investment funds 1,139 — — — 1,139 Funds withheld at interest – embedded derivative (615) — — — (615) Other investments 331 — — — 331 Reinsurance recoverable 1,661 — — — 1,661 Other assets 313 — — — 313 Assets of consolidated VIEs Trading securities 2,301 — — 347 1,954 Mortgage loans 2,579 — — — 2,579 Investment funds 17,765 16,995 — — 770 Other investments 107 — 4 — 103 Cash and cash equivalents 583 — 583 — — Total assets measured at fair value $ 299,527 $ 16,995 $ 22,414 $ 155,457 $ 104,661 Liabilities Interest sensitive contract liabilities Embedded derivative $ 11,242 $ — $ — $ — $ 11,242 Universal life benefits 742 — — — 742 Future policy benefits AmerUs Closed Block 1,102 — — — 1,102 ILICO Closed Block and life benefits 538 — — — 538 Market risk benefits 4,028 — — — 4,028 Derivative liabilities 3,556 — 19 3,536 1 Other liabilities 225 — — — 225 Total liabilities measured at fair value $ 21,433 $ — $ 19 $ 3,536 $ 17,878 December 31, 2023 (In millions) Total NAV Level 1 Level 2 Level 3 Assets AFS securities US government and agencies $ 5,399 $ — $ 5,392 $ 7 $ — US state, municipal and political subdivisions 1,046 — — 1,046 — Foreign governments 1,899 — 895 964 40 Corporate 78,246 — 10 75,711 2,525 CLO 20,207 — — 20,207 — ABS 13,383 — — 6,440 6,943 CMBS 6,591 — — 6,570 21 RMBS 7,567 — — 7,302 265 Total AFS securities 134,338 — 6,297 118,247 9,794 Trading securities 1,706 — 24 1,654 28 Equity securities 935 — 210 699 26 Mortgage loans 44,115 — — — 44,115 Funds withheld at interest – embedded derivative (3,379) — — — (3,379) Derivative assets 5,298 — 108 5,190 — Short-term investments 341 — — 236 105 Other investments 943 — — 313 630 Cash and cash equivalents 13,020 — 13,020 — — Restricted cash 1,761 — 1,761 — — Investments in related parties AFS securities Corporate 1,352 — — 181 1,171 CLO 4,268 — — 3,762 506 ABS 8,389 — — 563 7,826 Total AFS securities – related parties 14,009 — — 4,506 9,503 Trading securities 838 — — — 838 Equity securities 318 — 63 — 255 Mortgage loans 1,281 — — — 1,281 Investment funds 1,082 — — — 1,082 Funds withheld at interest – embedded derivative (721) — — — (721) Other investments 343 — — — 343 Reinsurance recoverable 1,367 — — — 1,367 Other assets 378 — — — 378 Assets of consolidated VIEs Trading securities 2,136 — — 284 1,852 Mortgage loans 2,173 — — — 2,173 Investment funds 15,927 14,950 — — 977 Other investments 103 — — 2 101 Cash and cash equivalents 98 — 98 — — Total assets measured at fair value $ 238,410 $ 14,950 $ 21,581 $ 131,131 $ 70,748 Liabilities Interest sensitive contract liabilities Embedded derivative $ 9,059 $ — $ — $ — $ 9,059 Universal life benefits 834 — — — 834 Future policy benefits AmerUs Closed Block 1,178 — — — 1,178 ILICO Closed Block and life benefits 522 — — — 522 Market risk benefits 3,751 — — — 3,751 Derivative liabilities 1,995 — 17 1,977 1 Other liabilities 266 — — (64) 330 Total liabilities measured at fair value $ 17,605 $ — $ 17 $ 1,913 $ 15,675 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 these 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. 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. Other investments – The fair values of other investments are primarily determined using a discounted cash flow model using discount rates for similar investments. Funds withheld at interest embedded derivatives – Funds withheld at interest embedded derivatives represent the right to receive or obligation to pay the total return on the assets supporting the funds withheld at interest or funds withheld liability, respectively, and are analogous to a total return swap with a floating rate leg. The fair value of embedded derivatives on funds withheld and modco agreements is measured as the unrealized gain (loss) on the underlying assets and classified as Level 3. 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 liability – Other assets at fair value consist 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. Market risk benefits are classified as Level 3. Interest sensitive contract liabilities embedded derivatives – 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 reflect the riskiness of the business. These universal life policyholder liabilities and corresponding reinsurance recoverable are classified as Level 3. Other liabilities – Other liabilities include funds withheld liability embedded derivatives, as described above in funds withheld at interest embedded derivatives, 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: Years ended December 31, (In millions) 2024 2023 2022 Trading securities $ (156) $ 66 $ (424) Mortgage loans (237) 183 (3,213) Investment funds (49) 81 114 Future policy benefits 76 (14) 356 Other 28 (113) (37) Total gains (losses) $ (338) $ 203 $ (3,204) Gains and losses on trading securities, mortgage loans, investments of consolidated VIEs, and other are recorded in investment related gains (losses) on the consolidated statements of income (loss). Gains and losses related to investment funds are recorded in net investment income on the 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 consolidated statements of income (loss). The following summarizes information for fair value option mortgage loans, including related parties and consolidated VIEs: December 31, (In millions) 2024 2023 Unpaid principal balance $ 69,754 $ 50,752 Mark to fair value (2,639) (3,183) Fair value $ 67,115 $ 47,569 The following represents our commercial mortgage loan portfolio 90 days or more past due and/or in non-accrual status: December 31, (In millions) 2024 2023 Unpaid principal balance of commercial mortgage loans 90 days or more past due and/or in non-accrual status $ 195 $ 221 Mark to fair value of commercial mortgage loans 90 days or more past due and/or in non-accrual status (102) (74) Fair value of commercial mortgage loans 90 days or more past due and/or in non-accrual status $ 93 $ 147 Fair value of commercial mortgage loans 90 days or more past due $ 31 $ 64 Fair value of commercial mortgage loans in non-accrual status 93 147 The following represents our residential mortgage loan portfolio 90 days or more past due and/or in non-accrual status: December 31, (In millions) 2024 2023 Unpaid principal balance of residential mortgage loans 90 days or more past due and/or in non-accrual status $ 898 $ 528 Mark to fair value of residential mortgage loans 90 days or more past due and/or in non-accrual status (51) (49) Fair value of residential mortgage loans 90 days or more past due and/or in non-accrual status $ 847 $ 479 Fair value of residential mortgage loans 90 days or more past due 1 $ 847 $ 479 Fair value of residential mortgage loans in non-accrual status 765 355 1 As of December 31, 2024 and 2023, includes $82 million and $124 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: Years ended December 31, (In millions) 2024 2023 2022 Mortgage loans $ (58) $ (53) $ (41) We estimated the portion of gains and losses attributable to changes in instrument-specific credit risk by identifying commercial mortgage 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. Year ended December 31, 2024 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 $ 40 $ — $ 1 $ (12) $ — $ 29 $ — $ 1 Corporate 2,525 (20) 36 2,815 (1,035) 4,321 (18) 38 ABS 6,943 47 (128) 9,812 (145) 16,529 (3) (130) CMBS 21 3 (5) — (19) — — — RMBS 265 8 — 83 (100) 256 — (1) Trading securities 28 1 — (21) 14 22 (1) — Equity securities 26 — — 1 — 27 — — Mortgage loans 44,115 (192) — 19,316 — 63,239 (145) — Funds withheld at interest – embedded derivative (3,379) 344 — — — (3,035) — — Derivative assets — — — — 1 1 — — Short-term investments 105 (1) (1) 145 (79) 169 — (1) Other investments 630 (24) — 289 — 895 (6) — Investments in related parties AFS securities Corporate 1,171 (2) 24 38 201 1,432 — 21 CLO 506 — 13 177 — 696 — 14 ABS 7,826 48 (12) 1,879 — 9,741 — (14) Trading securities 838 (1) — (264) — 573 (3) — Equity securities 255 (16) — (5) — 234 (15) — Mortgage loans 1,281 17 — (1) — 1,297 17 — Investment funds 1,082 (49) — 106 — 1,139 (49) — Funds withheld at interest – embedded derivative (721) 106 — — — (615) — — Other investments 343 (12) — — — 331 (12) — Reinsurance recoverable 1,367 (61) — 355 — 1,661 — — Assets of consolidated VIEs Trading securities 1,852 (80) — 209 (27) 1,954 (87) — Mortgage loans 2,173 (62) — 468 — 2,579 (64) — Investment funds 977 (68) — 331 (470) 770 (16) — Other investments 101 (10) — 32 (20) 103 (9) — Total Level 3 assets $ 70,370 $ (24) $ (72) $ 35,753 $ (1,679) $ 104,348 $ (411) $ (72) Liabilities Interest sensitive contract liabilities Embedded derivative $ (9,059) $ (174) $ — $ (2,009) $ — $ (11,242) $ — $ — Universal life benefits (834) 92 — — — (742) — — Future policy benefits AmerUs Closed Block (1,178) 76 — — — (1,102) — — ILICO Closed Block and life benefits (522) (16) — — — (538) — — Derivative liabilities (1) — — — — (1) — — Other liabilities (330) (13) — 54 64 (225) — — Total Level 3 liabilities $ (11,924) $ (35) $ — $ (1,955) $ 64 $ (13,850) $ — $ — 1 Related to instruments held at end of year. Year ended December 31, 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) $ 41 $ — $ 40 $ — $ (2) Corporate 1,665 (21) 45 1,298 (462) 2,525 — 21 ABS 4,867 (9) 61 3,241 (1,217) 6,943 — 45 CMBS — — 1 — 20 21 — 3 RMBS 232 8 4 256 (235) 265 — 2 Trading securities 53 2 — (16) (11) 28 — — Equity securities 92 (8) — (45) (13) 26 — — Mortgage loans 27,454 183 — 16,478 — 44,115 184 — Funds withheld at interest – embedded derivative (4,847) 1,468 — — — (3,379) — — Short-term investments 36 — (3) 69 3 105 — — Other investments 441 — — 189 — 630 (3) — Investments in related parties AFS securities Corporate 812 3 (32) 173 215 1,171 — (32) CLO 303 — 18 185 — 506 — 18 ABS 5,542 19 103 1,878 284 7,826 6 96 Trading securities 878 12 — (52) — 838 8 — Equity securities 279 8 — (32) — 255 7 — Mortgage loans 1,302 9 — (30) — 1,281 8 — Investment funds 959 91 — 32 — 1,082 91 — Funds withheld at interest – embedded derivative (1,425) 704 — — — (721) — — Other investments 303 (2) — 42 — 343 (3) — Reinsurance recoverable 1,388 (21) — — — 1,367 — — Assets of consolidated VIEs Trading securities 622 47 — (148) 1,331 1,852 47 — Mortgage loans 2,055 (9) — 127 — 2,173 (9) — Investment funds 2,471 (30) — 73 (1,537) 977 (31) — Other investments 99 9 — (7) — 101 9 — Total Level 3 assets $ 45,582 $ 2,463 $ 195 $ 23,752 $ (1,622) $ 70,370 $ 314 $ 151 Liabilities Interest sensitive contract liabilities Embedded derivative $ (5,841) $ (1,443) $ — $ (1,775) $ — $ (9,059) $ — $ — Universal life benefits (829) (5) — — — (834) — — Future policy benefits AmerUs Closed Block (1,164) (14) — — — (1,178) — — ILICO Closed Block and life benefits (548) 26 — — — (522) — — Derivative liabilities (1) — — — — (1) — — Other liabilities (142) (113) — (75) — (330) — — Total Level 3 liabilities $ (8,525) $ (1,549) $ — $ (1,850) $ — $ (11,924) $ — $ — 1 Related to instruments held at end of year. The following represents the gross components of purchases, issuances, sales and settlements, net, and net transfers in (out) shown above: Year ended December 31, 2024 (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 $ — $ — $ — $ (12) $ (12) $ — $ — $ — Corporate 3,146 — (41) (290) 2,815 166 (1,201) (1,035) ABS 11,886 — (423) (1,651) 9,812 769 (914) (145) CMBS — — — — — — (19) (19) RMBS 99 — — (16) 83 — (100) (100) Trading securities — — — (21) (21) 14 — 14 Equity securities 2 — (1) — 1 9 (9) — Mortgage loans 27,596 — (106) (8,174) 19,316 — — — Derivative assets — — — — — 1 — 1 Short-term investments 172 — (6) (21) 145 — (79) (79) Other investments 289 — — — 289 — — — Investments in related parties AFS securities Corporate 113 — (66) (9) 38 201 — 201 CLO 177 — — — 177 — — — ABS 7,197 — (504) (4,814) 1,879 — — — Trading securities 4 — — (268) (264) — — — Equity securities — — (5) — (5) — — — Mortgage loans 87 — — (88) (1) — — — Investment funds 106 — — — 106 — — — Reinsurance recoverable — 359 — (4) 355 — — — Assets of consolidated VIEs Trading securities 394 — (178) (7) 209 61 (88) (27) Mortgage loans 579 — — (111) 468 — — — Investment funds 341 — (10) — 331 — (470) (470) Other investments 56 — (24) — 32 — (20) (20) Total Level 3 assets $ 52,244 $ 359 $ (1,364) $ (15,486) $ 35,753 $ 1,221 $ (2,900) $ (1,679) Liabilities Interest sensitive contract liabilities – embedded derivative $ — $ (3,010) $ — $ 1,001 $ (2,009) $ — $ — $ — Other liabilities — — — 54 54 64 — 64 Total Level 3 liabilities $ — $ (3,010) $ — $ 1,055 $ (1,955) $ 64 $ — $ 64 Year ended December 31, 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 $ — $ — $ (12) $ 41 $ — $ — $ — Corporate 1,704 — (177) (229) 1,298 29 (491) (462) ABS 4,221 — (33) (947) 3,241 828 (2,045) (1,217) CMBS — — — — — 20 — 20 RMBS 262 — — (6) 256 5 (240) (235) Trading securities 8 — — (24) (16) 5 (16) (11) Equity securities — — (45) — (45) — (13) (13) Mortgage loans 21,018 — (529) (4,011) 16,478 — — — Short term investments 100 — — (31) 69 26 (23) 3 Other investments 620 — — (431) 189 — — — Investments in related parties AFS securities Corporate 184 — — (11) 173 215 — 215 CLO 185 — — — 185 — — — ABS 3,751 — (162) (1,711) 1,878 284 — 284 Trading securities 66 — (38) (80) (52) — — — Equity securities — — — (32) (32) — — — Mortgage loans — — — (30) (30) — — — Investment funds 32 — — — 32 — — — Other investments 42 — — — 42 — — — Assets of consolidated VIEs Trading securities 40 — (188) — (148) 1,362 (31) 1,331 Mortgage loans 203 — — (76) 127 — — — Investment funds 113 — (40) — 73 475 (2,012) (1,537) Other investments 14 — (21) — (7) — — — Total Level 3 assets $ 32,616 $ — $ (1,233) $ (7,631) $ 23,752 $ 3,249 $ (4,871) $ (1,622) Liabilities Interest sensitive contract liabilities – embedded derivative $ — $ (2,431) $ — $ 656 $ (1,775) $ — $ — $ — Other liabilities — — — (75) (75) — — — Total Level 3 liabilities $ — $ (2,431) $ — $ 581 $ (1,850) $ — $ — $ — Significant Unobservable Inputs — Significant unobservable inputs occur when we cannot obtain or corroborate the quantitative detail of the inputs. This applies to fixed maturity securities, equity securities, mortgage loans and certain investment funds, as well as embedded derivatives in liabilities. Additional significant unobservable inputs are described below. AFS, trading and equity securities – We use discounted cash flow models to calculate the fair value for certain fixed maturity and equity securities. The discount rate is a significant unobservable input because the credit spread includes adjustments made to the base rate. The base rate represents a market comparable rate for securities with similar characteristics. This excludes assets for which fair value is provided by independent broker quotes but includes assets for which fair value is provided by affiliated quotes. Mortgage loans – We use discounted cash flow models from independent commercial pricing services to calculate the fair value of our mortgage loan portfolio. The discount rate is a significant unobservable input. This approach uses market transaction information and client portfolio-oriented information, such as prepayments or defaults, to support the valuations. Investment funds – We use various methods of valuing our investment funds from both independent pricing services and affiliated modeling. Interest sensitive contract liabilities – embedded derivative – Significant unobservable inputs we use in the fixed indexed annuities embedded derivative of the interest sensitive contract liabilities valuation include: 1. Nonperformance risk – For contracts we issue, we use the credit spread, relative to the US Department of the Treasury (US Treasury) curve based on our public credit rating as of the valuation date. This represents our credit risk for use in the estimate of the fair value of embedded derivatives. 2. Option budget – We assume future hedge costs in the derivative’s fair value estimate. The level of option budgets determines the future costs of the options and impacts future policyholder account value growth. 3. Policyholder behavior – We regularly review the full withdrawal (surrender rate) assumptions. These are based on our initial pricing assumptions updated for actual experience. Actual experience may be limited for recently issued products. 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: December 31, 2024 (In millions, except 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 $ 28,774 Discounted cash flow Discount rate 4.7 % 20.0 % 7.1 % 1 Decrease Mortgage loans 67,115 Discounted cash flow Discount rate 1.8 % 43.1 % 6.7 % 1 Decrease Investment funds 1,909 Discounted cash flow Discount rate 6.6 % 14.0 % 10.8 % 1 Decrease Interest sensitive contract liabilities – fixed indexed annuities embedded derivatives 11,242 Discounted cash flow Nonperformance risk 0.4 % 1.1 % 0.7 % 2 Decrease Option budget 0.5 % 6.0 % 2.8 % 3 Increase Surrender rate 6.0 % 14.2 % 9.0 % 3 Decrease December 31, 2023 (In millions, except 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 $ 14,247 Discounted cash flow Discount rate 2.3 % 18.1 % 7.0 % 1 Decrease Mortgage loans 47,569 Discounted cash flow Discount rate 2.5 % 20.6 % 6.8 % 1 Decrease Investment funds 1,574 Discounted cash flow Discount rate 6.3 % 13.5 % 11.2 % 1 Decrease 483 Net tangible asset values Implied multiple 1.14x 1.14x 1.14x Increase Interest sensitive contract liabilities – fixed indexed annuities embedded derivatives 9,059 Discounted cash flow Nonperformance risk 0.4 % 1.4 % 0.9 % 2 Decrease Option budget 0.5 % 6.0 % 2.3 % 3 Increase Surrender rate 6.0 % 13.4 % 8.7 % 3 Decrease 1 The discount rate weighted average is calculated based on the relative fair values of the investments. 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. Financial Instruments Without Readily Determinable Fair Values —We elected the measurement alternative for certain equity securities that did not have a readily determinable fair value. The equity securities were held at cost less any impairment. During the third quarter of 2024, the equity securities of FWD Group Holdings Limited were distributed as a divi dend to AGM. As of December 31, 2023, the carrying amount of the equity securities was $358 million, net of an impairment of $42 million. As a result of slower than expected growth of the investee, we recorded an impairment of $42 million in the fourth quarter of 2023. Fair Value of Financial Instruments Not Carried at Fair Value — The following represents our financial instruments not carried at fair value on the consolidated balance sheets: December 31, 2024 (In millions) Carrying Value Fair Value NAV Level 1 Level 2 Level 3 Financial assets Investment funds $ 107 $ 107 $ 107 $ — $ — $ — Policy loans 318 318 — — 318 — Funds withheld at interest 21,901 21,901 — — — 21,901 Short-term investments 192 192 — — — 192 Other investments 93 101 — — — 101 Investments in related parties Investment funds 714 714 714 — — — Funds withheld at interest 5,665 5,665 — — — 5,665 Short-term investments 743 743 — — 743 — Total financial assets not carried at fair value $ 29,733 $ 29,741 $ 821 $ — $ 1,061 $ 27,859 Financial liabilities Interest sensitive contract liabilities $ 200,278 $ 192,025 $ — $ — $ — $ 192,025 Debt 6,309 5,844 — 581 5,263 — Securities to repurchase 5,716 5,716 — — 5,716 — Funds withheld liability 4,331 4,331 — — — 4,331 Total financial liabilities not carried at fair value $ 216,634 $ 207,916 $ — $ 581 $ 10,979 $ 196,356 December 31, 20

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
Reinsurance	7. Reinsurance The following summarizes the effect of reinsurance on premiums and future policy and other policy benefits on the consolidated statements of income (loss): Years ended December 31, (In millions) 2024 2023 2022 Premiums Direct $ 1,089 $ 10,525 $ 11,373 Reinsurance assumed 313 2,313 377 Reinsurance ceded (84) (89) (112) Total premiums $ 1,318 $ 12,749 $ 11,638 Future policy and other policy benefits Direct $ 2,779 $ 12,321 $ 12,142 Reinsurance assumed 550 2,389 416 Reinsurance ceded (275) (276) (93) Total future policy and other policy benefits $ 3,054 $ 14,434 $ 12,465 Reinsurance typically provides for recapture rights on the part of the ceding company for certain events of default. Additionally, some agreements require us to place assets in trust accounts for the benefit of the ceding entity. The required minimum assets are equal to or greater than statutory reserves, as defined by the agreement, and were $26.1 billion and $21.6 billion as of December 31, 2024 and 2023, respectively. Although we own the assets placed in trust, their use is restricted based on the trust agreement terms. If the statutory book value of the assets, or in certain cases fair value, in a trust declines because of impairments or other reasons, we may be required to contribute additional assets to the trust. In addition, the assets within a trust may be subject to a pledge in favor of the applicable reinsurance company. Reinsurance transactions We entered into a coinsurance agreement to assume a block of whole life policies during the fourth quarter of 2023. We did not have any block reinsurance transactions during the years ended December 31, 2024 and 2022. The following summarizes our block reinsurance agreement at inception: (In millions) Year ended December 31, 2023 Liabilities assumed $ 1,975 Less: Assets received 2,158 Deferred profit liability 1 $ (183) 1 Included within future policy benefits on the consolidated balance sheets. Catalina – We have reinsurance agreements with certain affiliates of Catalina Holdings (Bermuda) Ltd. (together with its subsidiaries, Catalina). See Note 15 – Related Parties for further information on these reinsurance agreements. Global Atlantic – We have a coinsurance and assumption agreement with Global Atlantic. The agreement ceded all existing open block life insurance business issued by Athene Annuity and Life Company (AAIA), with the exception of enhanced guarantee universal life insurance products. We also entered into a coinsurance agreement with Global Atlantic to cede all policy liabilities of the ILICO Closed Block. The ILICO Closed Block consists primarily of participating whole life insurance policies. We also have an excess of loss arrangement with Global Atlantic to reimburse us for any payments required from our general assets to meet the contractual obligations of the AmerUs Closed Block not covered by existing reinsurance through Athene Re USA IV. The AmerUs Closed Block consists primarily of participating whole life insurance policies. Since all liabilities were covered by the existing reinsurance at close, no reinsurance premiums were ceded. The assets backing the AmerUs Closed Block are managed, on AAIA’s behalf, by Goldman Sachs Asset Management. As of December 31, 2024 and 2023 , Global Atlantic maintained a series of trust and custody accounts under the terms of these agreements with assets equal to or greater than a required aggregate statutory balance of $2,502 million and $2,542 million, respectively. Protective Life Insurance Company (Protective) – We reinsured certain of our life and health business to Protective under a coinsurance agreement. As of December 31, 2024 and 2023 , Protective maintained a trust for our benefit with assets having a fair value of $1,107 million and $1,213 million, respectively. Reinsurance Recoverables —The following summarizes our reinsurance recoverable: December 31, (In millions) 2024 2023 Catalina $ 4,309 $ — Global Atlantic 2,328 2,435 Protective 1,435 1,559 Other 1 122 160 Reinsurance recoverable $ 8,194 $ 4,154 1 Represents all other reinsurers, with no single reinsurer having a carrying value in excess of 5% of the total recoverable.

Deferred Acquisition Costs, Def

Deferred Acquisition Costs, Deferred Sales Inducements, and Value of Business Acquired	12 Months Ended
	Dec. 31, 2024
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. 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 320 784 14 9 411 — 1,538 Amortization (16) (29) (3) — (12) (384) (444) Balance at December 31, 2022 304 755 11 9 399 2,988 4,466 Additions 701 863 3 3 634 — 2,204 Amortization (115) (101) (4) (1) (63) (404) (688) Other — — — — — (3) (3) Balance at December 31, 2023 890 1,517 10 11 970 2,581 5,979 Additions 519 945 42 1 630 — 2,137 Amortization (249) (184) (12) (1) (124) (371) (941) Other (2) — — — — — (2) Balance at December 31, 2024 $ 1,158 $ 2,278 $ 40 $ 11 $ 1,476 $ 2,210 $ 7,173 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 2025 $ 295 2026 261 2027 227 2028 194 2029 167

Long-duration Contracts

Long-duration Contracts	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
Long-Duration Insurance Contracts Disclosure	9. Long-duration Contracts Interest sensitive contract liabilities – Interest sensitive contract liabilities primarily include: ▪ traditional deferred annuities; ▪ indexed annuities consisting of fixed indexed, index-linked variable annuities, and assumed indexed universal life without significant mortality risk; ▪ 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. Year ended December 31, 2024 (In millions, except percentages) Traditional deferred annuities Indexed annuities Funding agreements Other investment-type Total Balance at December 31, 2023 $ 64,763 $ 93,147 $ 32,350 $ 7,629 $ 197,889 Deposits 25,459 16,230 29,249 1,088 72,026 Policy charges (2) (709) — — (711) Surrenders and withdrawals (5,389) (12,744) — (84) (18,217) Benefit payments (1,108) (1,580) (8,304) (212) (11,204) Interest credited 3,256 3,524 1,707 205 8,692 Foreign exchange (318) (7) (414) (498) (1,237) Other — — 180 (98) 82 Balance at December 31, 2024 $ 86,661 $ 97,861 $ 54,768 $ 8,030 $ 247,320 Weighted average crediting rate 4.3 % 2.7 % 4.4 % 2.7 % Net amount at risk $ 425 $ 15,441 $ — $ 51 Cash surrender value 81,243 89,511 — 6,784 Year ended December 31, 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 30,175 12,639 6,893 4,597 54,304 Policy charges (2) (651) — — (653) Surrenders and withdrawals (9,929) (11,253) (110) (40) (21,332) Benefit payments (984) (1,609) (3,273) (275) (6,141) Interest credited 1,858 1,279 883 155 4,175 Foreign exchange 52 1 260 (95) 218 Other 1 75 81 258 (1,435) (1,021) Balance at December 31, 2023 $ 64,763 $ 93,147 $ 32,350 $ 7,629 $ 197,889 Weighted average crediting rate 4.0 % 2.4 % 3.4 % 2.7 % Net amount at risk $ 425 $ 14,716 $ — $ 103 Cash surrender value 61,345 85,381 — 6,375 1 Other includes a $1,371 million reduction of reserves related to the Venerable Insurance and Annuity Company (VIAC) recapture agreement. See Note 15 – Related Parties for further information. Year ended December 31, 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 13,246 11,544 7,970 2,581 35,341 Policy charges (3) (600) — — (603) Surrenders and withdrawals (5,419) (8,057) (880) (17) (14,373) Benefit payments (937) (1,620) (2,819) (322) (5,698) Interest credited 1,032 1,638 677 95 3,442 Foreign exchange — — (440) (6) (446) Other — — (692) (22) (714) Balance at December 31, 2022 $ 43,518 $ 92,660 $ 27,439 $ 4,722 $ 168,339 Weighted average crediting rate 3.2 % 2.2 % 2.5 % 3.1 % Net amount at risk $ 422 $ 13,581 $ — $ 47 Cash surrender value 41,273 84,724 — 2,213 The following is a reconciliation of interest sensitive contract liabilities to the consolidated balance sheets: December 31, (In millions) 2024 2023 2022 Traditional deferred annuities $ 86,661 $ 64,763 $ 43,518 Indexed annuities 97,861 93,147 92,660 Funding agreements 54,768 32,350 27,439 Other investment-type 8,030 7,629 4,722 Reconciling items 1 6,317 6,781 5,277 Interest sensitive contract liabilities $ 253,637 $ 204,670 $ 173,616 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: December 31, 2024 (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% $ 26,818 $ 14,141 $ 134,121 $ 175,080 2.0% – < 4.0% 24,356 1,529 2,067 27,952 4.0% – < 6.0% 37,626 58 1 37,685 6.0% and greater 6,603 — — 6,603 Total $ 95,403 $ 15,728 $ 136,189 $ 247,320 December 31, 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% $ 30,339 $ 18,954 $ 100,609 $ 149,902 2.0% – < 4.0% 27,792 2,074 1,389 31,255 4.0% – < 6.0% 11,532 17 1 11,550 6.0% and greater 5,182 — — 5,182 Total $ 74,845 $ 21,045 $ 101,999 $ 197,889 December 31, 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% $ 25,031 $ 26,020 $ 72,776 $ 123,827 2.0% – < 4.0% 33,325 1,408 284 35,017 4.0% – < 6.0% 8,277 10 6 8,293 6.0% and greater 1,202 — — 1,202 Total $ 67,835 $ 27,438 $ 73,066 $ 168,339 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), and whole life insurance contracts. The following is a rollforward by product within future policy benefits: Year ended December 31, 2024 (In millions, except percentages and years) Payout annuities with life contingencies Whole life Total Present value of expected net premiums Beginning balance $ — $ 1,182 $ 1,182 Effect of changes in discount rate assumptions — (45) (45) Effect of foreign exchange on the change in discount rate assumptions — (2) (2) Beginning balance at original discount rate — 1,135 1,135 Effect of actual to expected experience — (4) (4) Adjusted balance — 1,131 1,131 Interest accrual — 22 22 Net premium collected — (190) (190) Foreign exchange — (111) (111) Ending balance at original discount rate — 852 852 Effect of changes in discount rate assumptions — 30 30 Effect of foreign exchange on the change in discount rate assumptions — (2) (2) Ending balance, present value of expected net premiums $ — $ 880 $ 880 Present value of expected future policy benefits Beginning balance $ 45,001 $ 3,371 $ 48,372 Effect of changes in discount rate assumptions 6,233 (89) 6,144 Effect of foreign exchange on the change in discount rate assumptions 1 (6) (5) Beginning balance at original discount rate 51,235 3,276 54,511 Effect of changes in cash flow assumptions (104) — (104) Effect of actual to expected experience 78 (4) 74 Adjusted balance 51,209 3,272 54,481 Issuances 1,115 — 1,115 Interest accrual 1,802 69 1,871 Benefit payments (4,476) (85) (4,561) Foreign exchange (16) (340) (356) Ending balance at original discount rate 49,634 2,916 52,550 Effect of changes in discount rate assumptions (7,378) (206) (7,584) Effect of foreign exchange on the change in discount rate assumptions 5 1 6 Ending balance, present value of expected future policy benefits 42,261 2,711 44,972 Less: Present value of expected net premiums — 880 880 Net future policy benefits $ 42,261 $ 1,831 $ 44,092 Weighted-average liability duration (in years) 9.4 30.7 Weighted-average interest accretion rate 3.7 % 4.8 % Weighted-average current discount rate 5.6 % 4.8 % Expected future gross premiums, undiscounted $ — $ 1,107 Expected future gross premiums, discounted 1 — 929 Expected future benefit payments, undiscounted 72,793 10,618 1 Discounted at the original discount rate. Year ended December 31, 2023 (In millions, except percentages and years) Payout annuities with life contingencies Whole life Total Present value of expected net premiums Beginning balance $ — $ — $ — Issuances — 3,091 3,091 Interest accrual — 6 6 Net premium collected — (2,027) (2,027) Foreign exchange — 65 65 Ending balance at original discount rate — 1,135 1,135 Effect of changes in discount rate assumptions — 45 45 Effect of foreign exchange on the change in discount rate assumptions — 2 2 Ending balance, present value of expected net premiums $ — $ 1,182 $ 1,182 Present value of expected future policy benefits Beginning balance $ 36,422 $ — $ 36,422 Effect of changes in discount rate assumptions 8,425 — 8,425 Effect of foreign exchange on the change in discount rate assumptions (13) — (13) Beginning balance at original discount rate 44,834 — 44,834 Effect of changes in cash flow assumptions (297) — (297) Effect of actual to expected experience (67) — (67) Adjusted balance 44,470 — 44,470 Issuances 10,427 3,091 13,518 Interest accrual 1,646 18 1,664 Benefit payments (3,834) (18) (3,852) Foreign exchange 35 185 220 Other 1 (1,509) — (1,509) Ending balance at original discount rate 51,235 3,276 54,511 Effect of changes in discount rate assumptions (6,233) 89 (6,144) Effect of foreign exchange on the change in discount rate assumptions (1) 6 5 Ending balance, present value of expected future policy benefits 45,001 3,371 48,372 Less: Present value of expected net premiums — 1,182 1,182 Net future policy benefits $ 45,001 $ 2,189 $ 47,190 Weighted-average liability duration (in years) 9.5 33.5 Weighted-average interest accretion rate 3.6 % 4.8 % Weighted-average current discount rate 5.1 % 4.1 % Expected future gross premiums, undiscounted $ — $ 1,497 Expected future gross premiums, discounted 2 — 1,239 Expected future benefit payments, undiscounted 75,261 11,344 1 Other includes a $1,509 million reduction of reserves related to the VIAC recapture agreement. See Note 15 – Related Parties for further information. 2 Discounted at the original discount rate. Year ended December 31, 2022 (In millions, except percentages and years) Payout annuities with life contingencies Whole life Total Present value of expected future policy benefits Beginning balance $ 35,278 $ — $ 35,278 Effect of changes in discount rate assumptions — — — Beginning balance at original discount rate 35,278 — 35,278 Effect of actual to expected experience (120) — (120) Adjusted balance 35,158 — 35,158 Issuances 11,528 — 11,528 Interest accrual 1,146 — 1,146 Benefit payments (2,921) — (2,921) Foreign exchange (77) — (77) Ending balance at original discount rate 44,834 — 44,834 Effect of changes in discount rate assumptions (8,425) — (8,425) Effect of foreign exchange on the change in discount rate assumptions 13 — 13 Ending balance, present value of expected future policy benefits $ 36,422 $ — $ 36,422 Weighted-average liability duration (in years) 10.2 0.0 Weighted-average interest accretion rate 3.2 % — % Weighted-average current discount rate 5.5 % — % Expected future benefit payments, undiscounted $ 64,754 $ — The following is a reconciliation of future policy benefits to the consolidated balance sheets: December 31, (In millions) 2024 2023 2022 Payout annuities with life contingencies $ 42,261 $ 45,001 $ 36,422 Whole life 1,831 2,189 — Reconciling items 1 5,810 6,097 5,688 Future policy benefits $ 49,902 $ 53,287 $ 42,110 1 Reconciling items primarily include the deferred profit liability and negative VOBA associated with our liabilities for future policy benefits. Additionally, it includes term life reserves, fully ceded whole life reserves, and reserves for our immaterial lines of business including 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 and interest expense relating to future policy benefits to the consolidated statements of income (loss): Premiums Years ended December 31, (In millions) 2024 2023 2022 Payout annuities with life contingencies $ 1,085 $ 10,504 $ 11,606 Whole life 204 2,214 — Reconciling items 1 29 31 32 Total premiums $ 1,318 $ 12,749 $ 11,638 Interest expense Years ended December 31, (In millions) 2024 2023 2022 Payout annuities with life contingencies $ 1,802 $ 1,646 $ 1,146 Whole life 47 12 — Total interest expense $ 1,849 $ 1,658 $ 1,146 1 Reconciling items primarily relate to immaterial lines of business including term life, fully ceded whole life, and accident and health and disability. 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. For whole life products, significant assumptions and inputs include policyholder demographic data, assumptions for mortality, morbidity, and lapse 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 year ended December 31, 2024, the present value of expected future policy benefits decreased by $3,400 million, which was driven by $4,561 million of benefit payments, a $1,440 million change in discount rate assumptions due to an increase in rates, and a $356 million change in foreign exchange, partially offset by $1,871 million of interest accrual and $1,115 million of issuances, primarily pension group annuities. During the year ended December 31, 2023, the present value of expected future policy benefits increased by $11,950 million, which was driven by $13,518 million of issuances, primarily pension group annuities, a $2,236 million change in discount rate assumptions related to a decrease in rates, and $1,664 million of interest accrual, partially offset by $3,852 million of benefit payments, a $1,509 million reduction in reserve related to recapture, 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 year ended December 31, 2022, the present value of expected future policy benefits increased by $1,144 million, which was driven by $11,528 million of issuances, primarily pension group annuities, and $1,146 million of interest accrual, partially offset by an $8,425 million change in discount rate assumptions related to an increase in rates and $2,921 million of benefit payments. The following is a summary of remeasurement gains (losses) included within future policy and other policy benefits on the consolidated statements of income (loss): Years ended December 31, (In millions) 2024 2023 2022 Reserves $ 25 $ 364 $ 120 Deferred profit liability (48) (246) (126) Negative VOBA 39 (65) 21 Total remeasurement gains (losses) $ 16 $ 53 $ 15 During the years ended December 31, 2024, 2023 and 2022, we recorded reserve increases of $15 million, $136 million and $50 million, respectively, on the 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 rollforward of net market risk benefit liabilities by product: Year ended December 31, 2024 (In millions, except years) Traditional deferred annuities Indexed annuities Total Balance at December 31, 2023 $ 192 $ 3,181 $ 3,373 Effect of changes in instrument-specific credit risk 2 (10) (8) Balance, beginning of period, before changes in instrument-specific credit risk 194 3,171 3,365 Issuances — 295 295 Interest accrual 10 191 201 Attributed fees collected 2 358 360 Benefit payments (4) (52) (56) Effect of changes in interest rates (18) (640) (658) Effect of changes in equity — (94) (94) Effect of actual policyholder behavior compared to expected behavior 6 73 79 Effect of changes in future expected policyholder behavior (3) 88 85 Effect of changes in other future expected assumptions — (19) (19) Balance, end of period, before changes in instrument-specific credit risk 187 3,371 3,558 Effect of changes in instrument-specific credit risk 3 154 157 Balance at December 31, 2024 190 3,525 3,715 Less: Reinsurance recoverable — 37 37 Balance at December 31, 2024, net of reinsurance $ 190 $ 3,488 $ 3,678 Net amount at risk $ 425 $ 15,441 Weighted-average attained age of contract holders (in years) 76 69 Year ended December 31, 2023 (In millions, except years) 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 — 106 106 Interest accrual 10 147 157 Attributed fees collected 2 336 338 Benefit payments (2) (32) (34) Effect of changes in interest rates (1) (90) (91) Effect of changes in equity — (119) (119) Effect of actual policyholder behavior compared to expected behavior 5 67 72 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 194 3,171 3,365 Effect of changes in instrument-specific credit risk (2) 10 8 Balance at December 31, 2023 $ 192 $ 3,181 $ 3,373 Net amount at risk $ 425 $ 14,716 Weighted-average attained age of contract holders (in years) 75 69 Year ended December 31, 2022 (In millions, except years) Traditional deferred annuities Indexed annuities Total Balance at January 1, 2022 $ 253 $ 4,194 $ 4,447 Issuances — 60 60 Interest accrual 4 52 56 Attributed fees collected 3 330 333 Benefit payments (4) (49) (53) Effect of changes in interest rates (77) (2,092) (2,169) Effect of changes in equity — 176 176 Effect of actual policyholder behavior compared to expected behavior 6 42 48 Effect of changes in other future expected assumptions (2) (41) (43) Balance, end of period, before changes in instrument-specific credit risk 183 2,672 2,855 Effect of changes in instrument-specific credit risk (13) (353) (366) Balance at December 31, 2022 $ 170 $ 2,319 $ 2,489 Net amount at risk $ 422 $ 13,581 Weighted-average attained age of contract holders (in years) 74 68 The following is a reconciliation of market risk benefits to the consolidated balance sheets. Market risk benefit assets are included in other assets on the consolidated balance sheets. December 31, 2024 (In millions) Asset Liability Net liability Traditional deferred annuities $ — $ 190 $ 190 Indexed annuities 313 3,838 3,525 Total $ 313 $ 4,028 $ 3,715 December 31, 2023 (In millions) Asset Liability Net liability Traditional deferred annuities $ — $ 192 $ 192 Indexed annuities 378 3,559 3,181 Total $ 378 $ 3,751 $ 3,373 December 31, 2022 (In millions) Asset Liability Net liability Traditional deferred annuities $ — $ 170 $ 170 Indexed annuities 481 2,800 2,319 Total $ 481 $ 2,970 $ 2,489 During the year ended December 31, 2024, net market risk benefit liabilities increased by $342 million, which was primarily driven by $360 million in fees collected from policyholders, issuances of $295 million, $201 million of interest accrual, and a $149 million change in instrument-specific credit risk related to tightening of credit spreads, partially offset by a decrease of $658 million related to changes in the risk-free discount rate across the curve. During the year ended December 31, 2023, net market risk benefit liabilities increased by $884 million, which was primarily driven by $338 million in fees collected from policyholders, a $374 million change in instrument-specific credit risk related to tightening of credit spreads, $157 million of interest accrual, and issuances of $106 million, partially offset by $119 million of changes related to equity market performance and a decrease of $91 million related to changes in the risk-free discount ra te across the curve. During the year ended December 31, 2022, net market risk benefit liabilities decreased by $1,958 million, which was primarily driven by a decrease of $2,169 million related to changes in the risk-free discount rate across the curve and a $366 million change in instrument-specific credit risk related to widening of credit spreads, partially offset by $333 million of fees collected from policyholders and $176 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 nonperformance risk, which is considered an unobservable input. We use our public credit rating relative to the US Treasury curve as of the valuation date to reflect our nonperformance risk in the fair value estimate of market risk benefits. The following summarizes the unobservable inputs for market risk benefits: December 31, 2024 (In millions, except 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 $ 3,715 Discounted cash flow Nonperformance risk 0.4 % 1.1 % 1.0 % 1 Decrease Option budget 0.5 % 6.0 % 2.3 % 2 Decrease Surrender rate 3.3 % 7.2 % 4.6 % 2 Decrease Utilization rate 28.6 % 95.0 % 84.9 % 3 Increase December 31, 2023 (In millions, except 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 $ 3,373 Discounted cash flow Nonperformance risk 0.4 % 1.4 % 1.2 % 1 Decrease Option budget 0.5 % 6.0 % 1.9 % 2 Decrease Surrender rate 3.2 % 6.4 % 4.5 % 2 Decrease Utilization rate 28.6 % 95.0 % 83.6 % 3 Increase December 31, 2022 (In millions, except 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 $ 2,489 Discounted cash flow Nonperformance risk 0.2 % 1.6 % 1.4 % 1 Decrease Option budget 0.5 % 5.3 % 1.7 % 2 Decrease Surrender rate 3.3 % 6.7 % 4.4 % 2 Decrease Utilization rate 28.6 % 95.0 % 82.3 % 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.

Closed Block

Closed Block	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
Closed Block	10. Closed Block We pay guaranteed benefits under all policies included in the Closed Blocks. In the event the performance of the Closed Blocks’ assets is insufficient to maintain dividend scales and interest credits, we may reduce the policyholder dividend scales. In the event dividends have been reduced to zero and the Closed Blocks’ assets remain insufficient to fund the Closed Blocks’ guaranteed benefits, we would use assets supporting open block policies or surplus to meet the contractual benefits of the Closed Blocks’ policyholders. The ILICO Closed Block has been ceded to Global Atlantic. Therefore, Global Atlantic would be required to provide funding for any asset insufficiency related to the ILICO Closed Block. Additionally, the AmerUs Closed Block has a letter of credit and tail risk reinsurance agreement in place that limits our exposure to potential asset insufficiency. We elected the fair value option for the AmerUs Closed Block. The fair value of liabilities of the AmerUs Closed Block was derived at election as the sum of the fair value of the AmerUs Closed Block assets plus our cost of capital in the AmerUs Closed Block. The cost of capital was then determined to be the present value of the projected release of required capital and future after tax earnings 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. At each reporting period, we record the fair value of the AmerUs Closed Block by adjusting the change in liabilities, exclusive of the cost of capital, to equal the change in assets. We do not record additional policyholder dividend obligations, as there are no future US GAAP earnings available to the policyholders. The excess of the fair value of the liabilities over the fair value of the assets represents our cost of capital in the AmerUs Closed Block. The maximum amount of future earnings from the assets and liabilities of the AmerUs Closed Block is represented by the reduction in the cost of capital in future years based on the operations of the AmerUs Closed Block and recalculation of the cost of capital each reporting period. Summarized financial information of the AmerUs Closed Block is presented below. December 31, (In millions) 2024 2023 Liabilities Future policy benefits $ 1,102 $ 1,178 Other policy claims and benefits 21 12 Dividends payable to policyholders 68 70 Other liabilities 9 7 Total liabilities 1,200 1,267 Assets Trading securities 939 989 Mortgage loans 7 11 Policy loans 122 128 Total investments 1,068 1,128 Cash and cash equivalents 77 88 Accrued investment income 13 14 Reinsurance recoverable 18 12 Other assets 5 1 Total assets 1,181 1,243 Maximum future earnings to be recognized from AmerUs Closed Block $ 19 $ 24 The following represents the contribution from and to AmerUs Closed Block. Years ended December 31, (In millions) 2024 2023 2022 Revenues Premiums $ 26 $ 29 $ 29 Net investment income 67 68 67 Investment related gains (losses) (44) 40 (310) Total revenues 49 137 (214) Benefits and expenses Future policy and other policy benefits 24 111 (242) Dividends to policyholders 20 21 22 Total benefits and expenses 44 132 (220) Contribution from AmerUs Closed Block before income taxes 5 5 6 Income tax expense — 2 1 Contribution from AmerUs Closed Block, net of income taxes $ 5 $ 3 $ 5

Debt

Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	11. Debt Credit Facility —On June 30, 2023, AHL, ALRe, AUSA and AARe entered into a five-year revolving credit agreement with a syndicate of banks and Citibank, N.A. as administrative agent (Credit Facility). The Credit Facility is unsecured and has a commitment termination date of June 30, 2028, subject to up to two one-year extensions, in accordance with the terms of the Credit Facility. In connection with the Credit Facility, AHL and AUSA guaranteed all of the obligations of AHL, ALRe, AARe and AUSA under the Credit Facility and the related loan documents, and ALRe and AARe guaranteed certain of the obligations of AHL, ALRe, AARe and AUSA under the Credit Facility and the related loan documents. The borrowing capacity under the Credit Facility is $1.25 billion, subject to being increased up to $1.75 billion in total on the terms described in the Credit Facility. The Credit Facility contains various standard covenants with which we must comply, including the following: 1. Consolidated debt-to-capitalization ratio of not greater than 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 December 31, 2024 and 2023, we had no amounts outstanding under the credit facility and were in compliance with all financial covenants under the facility. Liquidity Facility —On June 28, 2024, 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 June 30, 2023. The previous credit agreement, and the commitments under it, expired on June 28, 2024. The Liquidity Facility is unsecured and has a commitment termination date of June 27, 2025, 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 $10.2 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. As of December 31, 2024 and 2023, we had no amounts outstanding under the current or previous liquidity facilities and were in compliance with all financial covenants under the facilities. Senior Notes —During the first quarter of 2024, we issued $1.0 billion of 6.250% Senior Notes due April 1, 2054 (2054 Senior Notes). We will pay interest on the 2054 Senior Notes semi-annually, commencing on October 1, 2024. Subordinated Notes —During the first quarter of 2024, we issued $575 million of 7.250% Fixed-Rate Reset Junior Subordinated Debentures due March 30, 2064 (2064 Subordinated Notes). We will pay interest at an annual fixed rate of 7.250% on the 2064 Subordinated Notes quarterly, commencing on June 30, 2024 until March 30, 2029. On March 30, 2029, and every fifth annual anniversary thereafter, the interest rate will reset to the Five-Year US Treasury Rate (as defined in the applicable prospectus supplement) plus 2.986%. We may defer interest payments for up to five During the fourth quarter of 2024, we issued $600 million of 6.625% Fixed-Rate Reset Junior Subordinated Debentures due October 15, 2054 (2054 Subordinated Notes). We will pay interest at an annual fixed rate of 6.625% on the 2054 Subordinated Notes semi-annually, commencing on April 15, 2025 until October 15, 2034. On October 15, 2034, and every fifth annual anniversary thereafter, the interest rate will reset to the Five-Year US Treasury Rate (as defined in the applicable prospectus supplement) plus 2.607%. We may defer interest payments for up to five The following is a summary of our debt: Outstanding Balance December 31, (In millions, except percentages) Issue Date Maturity Date Principal Balance 2024 2023 4.125% 2028 Senior Notes January 12, 2018 January 12, 2028 $ 1,000 $ 1,050 $ 1,066 6.150% 2030 Senior Notes April 3, 2020 April 3, 2030 500 579 593 3.500% 2031 Senior Notes October 8, 2020 January 15, 2031 500 520 523 6.650% 2033 Senior Notes November 21, 2022 February 1, 2033 400 395 395 5.875% 2034 Senior Notes December 12, 2023 January 15, 2034 600 584 583 3.950% 2051 Senior Notes May 25, 2021 May 25, 2051 500 544 545 3.450% 2052 Senior Notes December 13, 2021 May 15, 2052 500 504 504 6.250% 2054 Senior Notes March 22, 2024 April 1, 2054 1,000 983 — 6.625% 2054 Subordinated Notes October 10, 2024 October 15, 2054 600 592 — 7.250% 2064 Subordinated Notes March 7, 2024 March 30, 2064 575 558 — Total debt $ 6,175 $ 6,309 $ 4,209 The senior unsecured notes are callable by AHL at any time. If called prior to three months before the scheduled maturity date, the price is equal to the greater of (1) 100% of the principal and any accrued and unpaid interest and (2) an amount equal to the sum of the present values of remaining scheduled payments, discounted from the scheduled payment date to the redemption date at the treasury rate plus a spread as defined in the applicable prospectus supplement and any accrued and unpaid interest. Interest expense on long-term debt was $248 million, $123 million and $98 million for the years ended December 31, 2024, 2023 and 2022, respectively. Unsecured Revolving Promissory Note Payable with AGM —We have an unsecured revolving promissory note payable with AGM. See Note 15 – Related Parties for further information.

Equity

Equity	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Common Stock	12. Equity Preferred Stock— We have the following series of preferred stock issuances: Issue date Authorized, issued and outstanding Liquidation preference per share 6.35% Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series A (Series A) June 10, 2019 34,500 $ 25,000 5.625% Fixed-Rate Perpetual Non-Cumulative Preferred Stock, Series B (Series B) September 19, 2019 13,800 $ 25,000 6.375% Fixed-Rate Reset Perpetual Non-Cumulative Preferred Stock, Series C (Series C) June 11, 2020 24,000 $ 25,000 4.875% Fixed-Rate Perpetual Non-Cumulative Preferred Stock, Series D (Series D) December 18, 2020 23,000 $ 25,000 7.75% Fixed-Rate Reset Perpetual Non-Cumulative Preferred Stock, Series E (Series E) December 12, 2022 20,000 $ 25,000 The following summarizes dividends declared per preferred stock share by series: Years ended December 31, (Per share) 2024 2023 2022 Series A $ 1,587.50 $ 1,590.20 $ 1,587.50 Series B 1,406.25 1,406.25 1,406.25 Series C 1,593.75 1,593.75 1,593.75 Series D 1,218.75 1,218.75 1,218.75 Series E 1,937.50 2,034.38 — The following summarizes dividends declared in the aggregate on the preferred stock by series: Years ended December 31, (In millions) 2024 2023 2022 Series A $ 55 $ 55 $ 55 Series B 19 19 19 Series C 38 38 38 Series D 28 28 29 Series E 41 41 — Total dividends declared $ 181 $ 181 $ 141 Preferred stock dividends are payable on a non-cumulative basis only when, as and if declared, quarterly in arrears on the 30 th day of March, June, September and December of each year. Preferred stock ranks senior to our common stock with respect to dividends, to the extent declared, and in liquidation, to the extent of the liquidation preference. Common Stock— All of our common stock is owned by AGM . Our board of directors declared common stock cash dividends of $750 million on December 31, 2021, payable to holders of the Company’s Class A shares with a record date and payment date following the completion of our merger with AGM. The dividend was paid on January 4, 2022. During the year ended December 31, 2022, our board of directors declared and we paid additional common stock dividends of $563 million. During the year ended December 31, 2023, our board of directors declared and we paid common stock dividends of $937 million. During the year ended December 31, 2024, our board of directors declared and we paid or distributed common stock dividends of $951 million, of which $499 million were provided to AGM in the form of assets in kind. Distributions to Parent — In the first quarter of 2022, w e distributed our investment in AOG units to AGM. The AOG units represented our historical strategic investment in Apollo. The AOG distribution resulted in a reduction of additional paid-in capital of $1,916 million and an increase in accumulated deficit of $26 million. In connection with the AOG distribution to AGM, we also issued a stock dividend of 11.6 million shares to the Apollo Group stockholders other than AGM. Additionally, we recorded a reestablishment of the liabilities that were considered effectively settled upon merger of $810 million, as these liabilities were settled during the first quarter of 2022 in the normal course of business as intercompany payables to AGM. 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 January 1, 2022 $ — $ — $ — $ — $ — $ — $ — Other comprehensive income (loss) before reclassifications (17,929) (463) 69 8,425 366 (27) (9,559) Less: Reclassification adjustments for gains (losses) realized in net income 1 (218) (18) 67 — — — (169) Less: Income tax expense (benefit) (3,154) (86) 12 1,223 77 (5) (1,933) Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of tax (1,992) (25) (57) 1,946 4 (12) (136) Balance at December 31, 2022 (12,565) (334) 47 5,256 285 (10) (7,321) Other comprehensive income (loss) before reclassifications 5,067 51 (117) (2,236) (374) 40 2,431 Less: Reclassification adjustments for gains (losses) realized in net income 1 (163) (3) 82 — — — (84) Less: Income tax expense (benefit) 588 6 (51) 38 (78) 8 511 Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of subsidiary issuance of equity interests and tax 749 3 (19) (476) (14) 9 252 Balance at December 31, 2023 (8,672) (289) (82) 3,458 3 13 (5,569) Other comprehensive income (loss) before reclassifications (1,354) (5) (8) 1,425 (149) (48) (139) Less: Reclassification adjustments for gains (losses) realized in net income 1 (223) (15) 43 — — — (195) Less: Income tax expense (benefit) (219) 3 (8) 287 (31) (10) 22 Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of tax (413) 2 (5) 361 (12) (3) (70) Balance at December 31, 2024 $ (9,171) $ (284) $ (120) $ 4,235 $ (103) $ (22) $ (5,465) 1 Recognized in investment related gains (losses) on the consolidated statements of income (loss).

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes Income tax expense (benefit) consists of the following: Years ended December 31, (In millions) 2024 2023 2022 Current 1 $ 975 $ 720 $ 373 Deferred (245) (1,881) (1,019) Income tax expense (benefit) $ 730 $ (1,161) $ (646) 1 For the years ended December 31, 2024, 2023 and 2022, current includes proportional amortization of $56 million, $49 million and $0 million, respectively; tax credits of $(332) million, $(164) million and $0 million, respectively; and transaction costs relating to low-income housing and transferable energy tax credits of $238 million, $103 million and $0 million, respectively. Income tax expense (benefit) was calculated based on the following income (loss) before income taxes by jurisdiction: Years ended December 31, (In millions) 2024 2023 2022 Bermuda $ 2,146 $ 2,652 $ (3,400) US 3,526 2,179 (2,084) United Kingdom (36) (240) (178) Japan (2) — — Income (loss) before income taxes $ 5,634 $ 4,591 $ (5,662) Our expected tax provision computed on pre-tax income is based upon the statutory US tax rate of 21%. A reconciliation of the difference between the expected tax provision at the statutory US tax rate and income tax expense (benefit) is as follows: Years ended December 31, (In millions, except percentages) 2024 2023 2022 Expected tax provision computed on pre-tax income (loss) $ 1,183 $ 964 $ (1,189) Increase (decrease) in income taxes resulting from: Deferred tax valuation allowance 23 (80) 39 Non-deductible expenses 12 11 1 Prior year true-up (22) (38) 48 Stock compensation expense (11) (1) 9 Noncontrolling interests (241) (245) 446 Other 11 73 — Bermuda tax (195) (1,764) — Interest expense attribute 8 (68) — Tax credits (38) (13) — Income tax expense (benefit) $ 730 $ (1,161) $ (646) Effective tax rate 13 % (25) % 11 % On December 27, 2023, the Government of Bermuda enacted the Corporate Income Tax Act 2023 (Bermuda CIT). Commencing on January 1, 2025, the Bermuda CIT generally imposes a 15% corporate income tax on entities that are tax residents in Bermuda or have a Bermuda permanent establishment, without regard to any assurances that have been given pursuant to the Exempted Undertakings Tax Protection Act 1966. Our results as of December 31, 2024 include material deferred tax assets resulting from the passage of the Bermuda CIT, primarily related to an opening tax loss carryforward. Total income taxes were as follows: Years ended December 31, (In millions) 2024 2023 2022 Income tax expense (benefit) $ 730 $ (1,161) $ (646) Income tax expense (benefit) from OCI 22 511 (1,933) Total income tax expense (benefit) $ 752 $ (650) $ (2,579) Current income tax recoverable and deferred tax assets are included in other assets on the consolidated balance sheets, and current income tax payable and deferred tax liabilities are included in other liabilities on the consolidated balance sheets. Current and deferred income tax assets and liabilities were as follows: December 31, (In millions) 2024 2023 Current income tax recoverable $ 364 $ — Current income tax payable 199 67 Net current income tax recoverable (payable) $ 165 $ (67) Deferred tax assets $ 6,259 $ 5,754 Deferred tax liabilities 282 11 Net deferred tax assets $ 5,977 $ 5,743 Deferred income tax assets and liabilities consisted of the following: December 31, (In millions) 2024 2023 Deferred tax assets Insurance liabilities $ 2,383 $ 1,742 Net operating and capital loss carryforwards 253 284 Investments, including derivatives and unrealized losses on AFS 2,360 1,899 Employee benefits 10 8 Investment in foreign subsidiaries 552 1,176 Bermuda tax 1,959 1,764 Other — 284 Total deferred tax assets 7,517 7,157 Valuation allowance (48) (25) Deferred tax assets, net of valuation allowance 7,469 7,132 Deferred tax liabilities Intangible assets 362 386 DAC, DSI and VOBA 1,120 954 Other 10 49 Total deferred tax liabilities 1,492 1,389 Net deferred tax assets $ 5,977 $ 5,743 As of December 31, 2024, we have US federal net operating losses of $842 million, which will begin to expire by 2026; US state net operating losses of $258 million, which will begin to expire by 2031; UK net operating losses of $180 million, which do not expire; and a Bermuda tax loss carryforward, as of January 1, 2025 (the effective date), of $7,797 million, which does not expire. The valuation allowance consists of the following: December 31, (In millions) 2024 2023 US federal and state net operating losses and other deferred tax assets $ 3 $ — UK net operating losses and other deferred tax assets 45 25 Total valuation allowance $ 48 $ 25 The primary jurisdictions in which we operate and incur income taxes are the US, UK and, beginning January 1, 2025, Bermuda. We have accumulated undistributed earnings generated by certain foreign subsidiaries, which we intend to indefinitely reinvest. As such, we have not recorded deferred taxes related to the accumulated undistributed earnings. We determined that estimating the unrecognized tax liability is not practicable. The UK enacted legislation in July 2023 implementing certain provisions of the Organisation for Economic Cooperation and Development’s “Pillar Two” global minimum tax initiative (Pillar Two) that applies to multinational enterprises for accounting periods beginning on or after December 31, 2023. On February 22, 2024, the UK enacted certain amendments to its Pillar Two legislation which similarly took effect for accounting periods beginning on or after December 31, 2024. We are continuing to evaluate the potential impact on future periods of Pillar Two, pending legislative adoption by individual countries, as such legislative changes could result in changes to our effective tax rate. We evaluated the enacted legislation and concluded there was no material impact to the effective tax rate for the year ended December 31, 2024. AHL changed its domicile from Bermuda to the US, causing AHL to become a US-domiciled corporation and a US taxpayer effective December 31, 2023 (Redomicile) and is subject to US corporate income tax for 2024 and future years. AHL’s Bermuda subsidiaries (and AHL for pre-Redomicile periods) file protective US income tax returns. AHL’s US subsidiaries file, and AHL for post-Redomicile periods will file, income tax returns with the US federal government and various US state governments. 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 (CAMT) as well as an excise tax on stock repurchases. Based on interpretations and assumptions we have made regarding the CAMT provisions of the IRA, which may change once further regulatory guidance is issued, CAMT as well as the excise tax on stock repurchases had no impact on our consolidated financial statements. AHL and its subsidiaries are not subject to US federal and state examinations by tax authorities for years prior to 2021. AHL and its subsidiaries are not currently under audit by the IRS or any state taxing authority.

Statutory Requirements

Statutory Requirements	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
Insurance Disclosure [Text Block]	14. Statutory Requirements Our insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate including Bermuda and the US. Certain regulations include restrictions that limit the dividends or other distributions, such as loans or cash advances, available to stockholders without prior approval of the insurance regulatory authorities. The differences between financial statements prepared for insurance regulatory authorities and US GAAP financial statements vary by jurisdiction. Bermuda statutory requirements —ALRe, AARe, Athene Co-Invest Reinsurance Affiliate 1A Ltd. (ACRA 1A) and Athene Co-Invest Reinsurance Affiliate 2A Ltd. (ACRA 2A) are each licensed by the Bermuda Monetary Authority (BMA) as long-term insurers and are subject to the Insurance Act 1978, as amended (Bermuda Insurance Act) and regulations promulgated thereunder. The BMA implemented the Economic Balance Sheet (EBS) framework into the Bermuda Solvency Capital Requirement (BSCR), which was granted equivalence to the European Union’s Directive (2009/138/EC) (Solvency II). Amounts reported for Bermuda entities within these statutory disclosures exclude the impact of any deferred taxes on the EBS or statutory bases resulting from the enactment of Bermuda CIT. Under the Bermuda Insurance Act, long-term insurers are required to maintain minimum statutory capital and surplus to meet the minimum margin of solvency (MMS) and minimum economic statutory capital and surplus (EBS capital and surplus) to meet the Enhanced Capital Requirement (ECR). For our Class C reinsurers, ACRA 1A and ACRA 2A, MMS is equal to the greater of $500,000, 1.5% of the total statutory assets or 25% of ECR. For our Class E reinsurers, ALRe and AARe, MMS is equal to the greater of $8 million, 2% of the first $500 million of statutory assets plus 1.5% of statutory assets above $500 million or 25% of ECR. For each class, the ECR is calculated based on a risk-based capital model where risk factor charges are applied to the EBS. The ECR is floored at the MMS. As of December 31, 2024, our Bermuda subsidiaries were in excess of the minimum levels required. For our Bermuda reinsurance subsidiaries, the ECR is the binding regulatory constraint. The following represents the EBS capital and surplus and BSCR ratios: December 31, 2024 2023 (In millions, except percentages) EBS capital & surplus BSCR ratio EBS capital & surplus BSCR ratio ALRe $ 23,547 420 % $ 18,245 233 % AARe 27,693 238 % 26,647 291 % ACRA 1A 3,866 165 % 5,296 219 % ACRA 2A 4,277 176 % 3,717 353 % Under the Bermuda statutory framework, statutory financial statements are generally equivalent to US GAAP financial statements, with the exception of prudential filters and permitted practices granted by the BMA. Our Bermuda subsidiaries have permission in the statutory financial statements to use amortized cost instead of fair value as the basis for certain investments. Additionally, our Bermuda subsidiaries use US statutory reserving principles for the calculation of insurance reserves instead of US GAAP, subject to the reserves being proved adequate based on cash flow testing. The following represents the effect of the permitted practices to the statutory financial statements: December 31, 2024 (In millions) ALRe AARe ACRA 1A ACRA 2A Increase (decrease) to capital and surplus due to permitted practices $ (5) $ 6,119 $ 3,768 $ 51 Increase (decrease) to statutory net income due to permitted practices 973 (2,695) 54 515 Under the Bermuda Insurance Act, our Bermuda subsidiaries are prohibited from paying a dividend in an amount exceeding 25% of the prior year’s statutory capital and surplus, unless at least two members of the companies’ respective board of directors and its principal representative in Bermuda sign and submit to the BMA an affidavit attesting that a dividend in excess of this amount would not cause the subsidiary to fail to meet its relevant margins. In certain instances, the Bermuda subsidiary would also be required to provide prior notice to the BMA in advance of the payment of dividends. In the event that such an affidavit is submitted to the BMA, and further subject to meeting the MMS and ECR requirements, a Bermuda subsidiary is permitted to distribute up to the sum of 100% of statutory surplus and an amount less than 15% of statutory capital. Distributions in excess of this amount require the approval of the BMA. The following represents the maximum distribution our Bermuda subsidiaries would be permitted to remit to its parent without the need for prior approval: December 31, (In millions) 2024 2023 ALRe $ 10,112 $ 7,023 AARe 10,207 8,012 ACRA 1A 1,044 1,614 ACRA 2A 877 30 US statutory requirements —Our primary regulated US subsidiaries and the corresponding insurance regulatory authorities are as follows: Subsidiary Regulatory Authority AAIA Iowa Insurance Division AANY New York Department of Financial Services Athene Re USA IV State of Vermont Department of Financial Regulation On October 11, 2024, Athene Annuity & Life Assurance Company (AADE) merged with and into AAIA, with AAIA as the surviving entity following the receipt of all required regulatory approvals. Prior year amounts relating to AAIA below have been restated to reflect the effect of the merger. Each entity’s statutory statements are presented on the basis of accounting practices determined by the respective regulatory authority. The regulatory authority recognizes only statutory accounting practices prescribed or permitted by the corresponding state for determining and reporting the financial condition and results of operations of an insurance company and for determining its solvency under insurance law. The maximum dividend these subsidiaries can pay to stockholders, without prior approval of the respective state insurance department, is subject to restrictions relating to statutory surplus or net gain from operations. The maximum dividend payment over a twelve-month period may not, without prior approval, be paid from a source other than earned surplus and may not exceed the greater of (1) the prior year’s net gain from operations or (2) 10% of prior year’s policyholders’ surplus. Based on these restrictions, the maximum dividend AAIA, and its predecessor by merger AADE, could pay to its parent absent regulatory approval was $0 million as of each of December 31, 2024 and 2023. Any dividends from AHL’s other US statutory entities in excess of the amounts allowed for AAIA would not be able to be remitted to its parent without regulatory approval from the Iowa Insurance Division. As of December 31, 2024, our US subsidiaries’ solvency, liquidity and risk-based capital amounts were significantly in excess of the minimum levels required. In some instances, the states of domicile of our US subsidiaries have adopted prescribed accounting practices that differ from the required accounting outlined in NAIC Statutory Accounting Principles (SAP). These subsidiaries also have certain accounting practices permitted by the states of domicile that differ from those found in NAIC SAP. These prescribed and permitted practices are described as follows: AAIA – Among the products issued by AAIA are indexed universal life insurance and fixed indexed annuities. These products allow a portion of the premium to earn interest based on certain indices, including the S&P 500 and other bespoke indices. We purchase call options, futures and variance swaps to hedge the growth in interest credited to the customer as a direct result of increases in the related index. The Iowa Insurance Division allows an insurer to elect (1) to use an amortized cost method to account for certain derivative instruments, such as call options, purchased to hedge the growth in interest credited to the customer on indexed insurance products and (2) to use an indexed annuity reserve calculation methodology under which call options associated with the current index interest crediting term are valued at zero. AAIA has elected to apply this option to its over-the-counter call options and reserve liabilities. As a result, AAIA’s statutory surplus increased by $38 million and decreased by $2 million as of December 31, 2024 and 2023, respectively. Athene Re USA IV – AAIA has ceded the AmerUs Closed Block to Athene Re USA IV on a 100% funds withheld basis. A permitted practice in the State of Vermont allows Athene Re USA IV to include as admitted assets the face amount of all issued and outstanding letters of credit used to fund its reinsurance obligations to AAIA in its statutory financial statements. If Athene Re USA IV had not followed this permitted practice, then it would not have exceeded authorized control level risk based capital requirements. As of December 31, 2024 and 2023, Athene Re USA IV included as admitted assets $86 million and $96 million, respectively, related to the outstanding letters of credit. Statutory capital and surplus and net income (loss) —The following table presents, for each of our primary insurance subsidiaries, the statutory capital and surplus and the statutory net income (loss), based on the most recent statutory financial statements to be filed with insurance regulators: Statutory capital & surplus Statutory net income (loss) December 31, Years ended December 31, (In millions) 2024 2023 2024 2023 2022 ALRe $ 17,623 $ 14,474 $ 3,140 $ 832 $ 937 AARe 21,049 17,773 2,910 408 1,329 ACRA 1A 4,521 5,092 841 297 (87) ACRA 2A 4,569 1,952 877 (759) (2) AAIA 3,899 3,306 949 (79) (486) AANY 318 290 25 (3) (23)

Related Parties

Related Parties	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Related Parties	15. Related Parties Apollo Fee structure – Substantially all of our investments are managed by Apollo. Apollo provides us with a full suite of services for our investment portfolio, including direct investment management, asset allocation, mergers and acquisitions asset diligence, and certain operational support services 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 measured 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. Effective December 31, 2023, in addition to the base and sub-allocation fees specified above, we pay Apollo a target annual performance fee of $37.5 million, with the amount of the annual performance fee ranging from between 0% and 200% of such target amount, based on our spread related earnings for the year relative to our targets, beginning with the performance period for the second half of 2023. During the years ended December 31, 2024, 2023 and 2022, we incurred management fees, inclusive of the base, sub-allocation and performance fees, of $1,269 million, $987 million and $775 million, respectively. Management fees are included within net investment income on the consolidated statements of income (loss). As of December 31, 2024 and 2023, management fees payable were $127 million and $101 million, respectively, and are included in other liabilities on the 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 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. Governance – We have an 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 (CEO), serves as a member of the board of directors and an executive officer of AGM, and CEO 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, six 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 bylaws 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 and AAA holds the majority of our alternative investment portfolio. Apollo established AAA to provide a single vehicle through which investors may participate in a portfolio of alternative investments, including 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 allows us to achieve greater scale and diversification for alternatives. During the third quarter of 2024, AAA underwent a restructuring which resulted in a change in consolidation that reduced our noncontrolling interests by $1,107 million and does not represent a withdrawal from AAA. Athora Holding Ltd. (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, and (3) we provide Athora with a right of first refusal to pursue acquisition and reinsurance transactions in Europe (other than 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 December 31, 2024, 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 consolidated balance sheets, and non-redeemable preferred equity and corporate debt securities. The following table summarizes our investments in Athora: December 31, (In millions) 2024 2023 Investment fund $ 1,033 $ 1,082 Non-redeemable preferred equity and corporate debt securities 277 249 Total investment in Athora $ 1,310 $ 1,331 Additionally, as of December 31, 2024 and 2023, we had $57 million and $61 million, respectively, of funding agreements outstanding to Athora. We also have commitments to make additional investments in Athora of $502 million as of December 31, 2024. Atlas – We have an equity investment in Atlas, an asset-backed specialty lender, through our investment in AAA. As of December 31, 2024 and 2023, we held $3,245 million and $1,008 million, respectively, of related party AFS securities issued by Atlas. Additionally, we held $724 million and $921 million of reverse repurchase agreements issued by Atlas as of December 31, 2024 and 2023, respectively, which are held as related party short-term investments on the consolidated balance sheets. As of December 31, 2024, we have commitments to make additional investments in Atlas of $2,977 million. See Note 16 – Commitments and Contingencies for further information on assurance letters issued in support of Atlas. Catalina – We have an investment in Apollo Rose II (B) (Apollo Rose). Apollo Rose holds common and preferred equity interests in Catalina. During the third quarter of 2024, we distributed $141 million of our investment in Apollo Rose representing Catalina common equity interests to AGM as a dividend. This distribution resulted in our deconsolidation of Apollo Rose as a VIE. As of December 31, 2024, we held $205 million of redeemable preferred equity securities issued by Apollo Rose, which are held as related party AFS securities on the consolidated balance sheets. We have a strategic modco reinsurance agreement with Catalina to cede certain inforce funding agreements. We elected the fair value option on this agreement and had a liability of $221 million and $330 million as of December 31, 2024 and 2023, respectively, which is included in other liabilities on the consolidated balance sheets. During the first quarter of 2024, we also entered into a modco reinsurance agreement with Catalina to cede a quota share of retail deferred annuity products. As of December 31, 2024, we had a reinsurance recoverable balance of $4,309 million related to this agreement. 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 December 31, 2024 and 2023 , we held securities issued by MidCap Financial and its affiliates of $1,938 million and $1,844 million, respectively, which are included in related party AFS securities on the consolidated balance sheets. Skylign Aviation Holdings, L.P. (together with its subsidiaries, Skylign) – We have investments in Skylign, a leading aviation finance group focused on aviation lending and leasing, both directly through notes issued by PK AirFinance, a subsidiary of Skylign, and indirectly through AAA, as we contributed certain of our investments in PK AirFinance to AAA during the second quarter of 2022. We had direct investments in Skylign notes of $1,616 million and $1,617 million as of December 31, 2024 and 2023, respectively, which are included in related party AFS securities on the consolidated balance sheets. We also have commitments to make additional investments in Skylign of $40 million as of December 31, 2024. Strategic Partnership – We have an agreement pursuant to which we may invest up to $2.875 billion 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 December 31, 2024 and 2023, we had $1,994 million and $1,725 million, respectively, of investments under the Strategic Partnership and these investments are typically included as investments of consolidated VIEs or related party investment funds on the consolidated balance sheets. Venerable – VA Capital Company LLC (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 Holdings, Inc. (together with its subsidiaries, Venerable). We have a minority equity investment in VA Capital , which was $178 million and $181 million as of December 31, 2024 and 2023, respectively, that is included in related party investment funds on the consolidated balance sheets and accounted for as an equity method investment. Additionally, during the year ended December 31, 2024, we purchased an interest in AP Violet ATH Holdings, LP from Athora. We consolidated AP Violet ATH Holdings, L.P. as of December 31, 2024 and its investment fund of $106 million primarily represents an interest in VA Capital. We also have coinsurance and modco agreements with VIAC, which is a subsidiary of Venerable. VIAC is a related party due to our investment in VA Capital. 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 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. We also have term loans receivable from Venerable due in 2033, which are included in related party other investments on the consolidated balance sheets. The loans are held at fair value and were $331 million and $343 million as of December 31, 2024 and 2023, 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. Wheels – We invest in Wheels indirectly through our investment in AAA. We also own securities issued by Wheels of $984 million and $981 million as of December 31, 2024 and 2023, respectively, which are included in related party AFS securities on the consolidated balance sheets. During the second quarter 2022, we received redemptions on Wheels securities of $1,479 million. We also have commitments to make additional investments in Wheels of $100 million as of December 31, 2024. ACRA and Apollo/Athene Dedicated Investment Programs I and II (collectively, ADIP) – ACRA 1 is partially owned by Apollo/Athene Dedicated Investment Program (ADIP I), a series of funds managed by Apollo. ALRe currently directly holds 37% of the economic interests in ACRA 1 and all of ACRA 1’s voting interests, with ADIP I holding the remaining 63% of the economic interests. ACRA 2 is partially owned by Apollo/Athene Dedicated Investment Program II (ADIP II), a fund managed by Apollo. ADIP II owns 63% of the economic interests in ACRA 2, with ALRe directly owning the remaining 37% of the economic interests. ALRe holds all of ACRA 2’s voting interests. We received capital contributions and paid distributions relating to ACRA of the following: Years ended December 31, (In millions) 2024 2023 2022 Contributions from ADIP $ 954 $ 996 $ 1,047 Distributions to ADIP (920) (539) (63) Additionally, as of December 31, 2024 and 2023 , we had $289 million and $213 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 the noncontrolling interests. During the fourth quarter of 2024, we purchased investments in ADIP I and ADIP II, of which $65 million was acquired from Apollo. As of December 31, 2024, we held investments in ADIP of $238 million, which are accounted for as equity method investments and included in related party investment funds on the consolidated balance sheets. As of December 31, 2024, we also have commitments to make additional investments in ADIP of $324 million. 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 $142 million and $109 million as of December 31, 2024 and 2023, 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 December 31, 2024 and 2023.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	16. Commitments and Contingencies Contingent Commitments —We had commitments to make investments, inclusive of related party commitments discussed previously and those of consoli dated VIEs, of $24.0 billion as of December 31, 2024. These commitments primarily include capital contributions to investment funds and mortgage loan commitments. We expect most of our current commitments will 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 December 31, 2024 and 2023, we had $15.6 billion and $6.5 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 December 31, 2024 and 2023, we had $24.1 billion and $19.9 billion, respectively, of FABN funding agreements outstanding. We had $10.2 billion of board-authorized FABN capacity remaining as of December 31, 2024. We also issue secured and other funding agreements. Secured funding agreements involve special-purpose, unaffiliated entities entering into repurchase agreements with a third party, the proceeds of which are used by the special-purpose entities to purchase funding agreements from us. As of December 31, 2024 and 2023, we had $14.8 billion and $6.0 billion, respectively, of secured and other funding agreements outstand ing. Pledged Assets and Funds in Trust (Restricted Assets)— The total restricted assets included on the consolidated balance sheets are as follows: December 31, (In millions) 2024 2023 AFS securities $ 46,337 $ 32,458 Trading securities 1,665 139 Equity securities 286 80 Mortgage loans 27,883 14,257 Investment funds 777 409 Derivative assets 91 73 Short-term investments 2 153 Other investments 1,507 313 Restricted cash 953 1,761 Total restricted assets $ 79,501 $ 49,643 The restricted assets are primarily related to reinsurance trusts established in accordance with coinsurance agreements and the FHLB and secured funding agreements described above. Letters of Credit —We have undrawn letters of credit totaling $1,300 million as of December 31, 2024. These letters of credit were issued for our reinsurance program and have expirations through May 22, 2028. Assurance Letter —In connection with our, Apollo and Credit Suisse AG’s (CS) previously announced transaction, Atlas acquired certain assets of the CS Securitized Products Group and 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. In March 2024, in connection with Atlas concluding its investment management agreement with CS, the deferred purchase obligation amount was reduced to $2.5 billion. In addition, certain strategic investors have made equity commitments to Atlas which therefore obligates these investors for a portion of the deferred purchase obligation. 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 each issued an assurance letter to CS to guarantee the full amount. Our guarantees are not probable of payment; therefore, no liabilities have been recorded for the guarantees on the consolidated financial statements. Guaranty Association Assessments — Guaranty associations may subject member insurers, including us, to assessments that require the insurers to pay funds to cover contractual obligations under insurance policies issued by insurance companies that become impaired or insolvent. The assessments are based on an insurer’s proportionate share of premiums written in that state during a specified one-year or three-year period for lines of business in which the impaired or insolvent insurer engaged, subject to prescribed limits. On December 30, 2022, the North Carolina Wake County Superior Court entered an Order of Liquidation (Liquidation Order) against Bankers Life Insurance Company (BLIC) and Colorado Bankers Life Insurance Company (CBLIC), which was affirmed by the North Carolina Court of Appeals on March 5, 2024. On April 9, 2024, GBIG Holdings, LLC (GBIG), the sole shareholder of BLIC and CBLIC, filed a Petition for Discretionary Review requesting the North Carolina Supreme Court review the decision by the North Carolina Court of Appeals to affirm the Liquidation Order. On July 11, 2024, GBIG filed a Motion to Withdraw its Petition for Discretionary Review. We are not a party to this litigation. The North Carolina Supreme Court granted the Motion to Withdraw on August 23, 2024, which made the Liquidation Order effective on November 30, 2024. Guaranty associations began levying assessments and we expect those assessments to continue for the foreseeable future. During the year ended December 31, 2024, we recorded guaranty association expenses related to the BLIC and CBLIC insolvencies of $152 million, which is net of $11 million that we expect to recover through future premium tax credits. As of December 31, 2024, our consolidated balance sheets included a liability of $18 million based on our current best estimate of assessments we expect to receive related to these insolvencies. The actual amount of assessments levied against us in connection with the BLIC and CBLIC insolvencies may vary from this estimate.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Information	17. Segment Information We operate our core business strategies through one reportable segment. We conduct our retirement services business through entities domiciled in the US and Bermuda and our revenues are similarly generated primarily in the US and Bermuda. Our CEO is the CODM, who is also solely responsible for decisions related to the allocation of resources on a company-wide basis. For determining the allocation of resources, the CODM reviews the Company’s performance based on its key measure of consolidated net income to evaluate income generated and determine allocation of resources, among other measures. Measures that the CODM reviews also include the significant expenses of cost of funds, other operating expenses, and interest and other financing costs that each exclude the proportionate share associated with noncontrolling interests. Cost of funds reflect the cost of crediting on both deferred annuities and institutional products, as well as other liability costs, net of premium from life and life-contingent products and other revenues. Certain expenses within cost of funds, notably future policy and other policy benefits, are partially or fully offset in the presentation of cost of funds with inflows of premium and other fee-related revenues; as a result, other liability costs equal to the amount of premium from life and life-contingent products are added back in the reconciliation below to reflect the expense amount excluded from cost of funds. Other operating expenses consist primarily of employee compensation and general operating costs of the business. Interest and other financing costs consist primarily of preferred stock dividends and interest expense on our debt issuances, as well as other financing. Additionally, total consolidated assets is the only measure of segment assets that the CODM uses to determine allocation of resources. The reconciliation of total consolidated revenue to total consolidated net income is as follows: Years ended December 31, (In millions) 2024 2023 2022 Revenues $ 20,689 $ 28,194 $ 7,623 Less: Cost of funds 7,702 5,650 3,755 Other operating expenses 467 487 466 Interest and other financing costs 465 436 279 Other liability costs equal to the amount of premium 1,318 12,749 11,638 Other segment items 1 5,103 4,281 (2,853) Income (loss) before income taxes 5,634 4,591 (5,662) Income tax expense (benefit) 730 (1,161) (646) Net income (loss) $ 4,904 $ 5,752 $ (5,016) 1 Other segment items reflect the difference between revenues and significant segment expenses and include the impact of fair value accounting for market risk benefits, embedded derivative remeasurement, the amortization of purchased options on fixed indexed annuities and noncontrolling interests.

Schedule I Summary of Investmen

Schedule I Summary of Investments - Other Than Investments in Related Parties (Notes)	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Text Block]	December 31, 2024 (In millions) Cost or Amortized Cost Fair Value Amount Shown on Consolidated Balance Sheet AFS securities US government and agencies $ 8,413 $ 7,151 $ 7,151 US state, municipal and political subdivisions 1,167 921 921 Foreign governments 2,082 1,568 1,568 Public utilities 15,496 13,669 13,669 Redeemable preferred stock 1,115 1,115 1,115 Other corporate 78,375 68,774 68,774 Convertibles and bonds with warrants attached 20 27 27 CLO 29,524 29,182 29,182 ABS 24,779 24,201 24,201 CMBS 11,158 10,741 10,741 RMBS 8,587 8,015 8,015 Trading securities 1,935 1,583 1,583 Total fixed maturity securities 182,651 166,947 166,947 Equity securities Public utilities 24 22 22 Banks, trust and insurance companies common stock — — — Industrial, miscellaneous and all other common stock 9 9 9 Nonredeemable preferred stocks 1,325 1,259 1,259 Total equity securities 1,358 1,290 1,290 Mortgage loans 65,474 63,239 Investment funds 107 107 Policy loans 318 318 Funds withheld at interest 18,866 18,866 Derivative assets 8,154 8,154 Short-term investments 456 447 Other investments 2,914 2,915 Total investments $ 280,298 $ 262,283

Schedule II - Condensed Financi

Schedule II - Condensed Financial Information of Registrant Condensed Financial Information of Parent	12 Months Ended
	Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	December 31, (In millions, except per share data) 2024 2023 Assets Investments, at fair value $ 123 $ 8 Cash and cash equivalents 807 326 Investments in related parties, at fair value 1,330 1,331 Other assets (related party: 2024 – $153 and 2023 – $121) 433 400 Notes and other receivables from subsidiaries 46 27 Investments in subsidiaries 21,750 16,577 Total assets $ 24,489 $ 18,669 Liabilities and Equity Liabilities Debt $ 6,309 $ 4,209 Other liabilities (related party: 2024 – $58 and 2023 – $14) 236 133 Notes and other payables to subsidiaries 1,584 489 Total liabilities 8,129 4,831 Equity Preferred stock Series A – par value $1 per share; $863 aggregate liquidation preference; authorized, issued and outstanding: 2024 and 2023 – 0.0 shares — — Series B – par value $1 per share; $345 aggregate liquidation preference; authorized, issued and outstanding: 2024 and 2023 – 0.0 shares — — Series C – par value $1 per share; $600 aggregate liquidation preference; authorized, issued and outstanding: 2024 and 2023 – 0.0 shares — — Series D – par value $1 per share; $575 aggregate liquidation preference; authorized, issued and outstanding: 2024 and 2023 – 0.0 shares — — Series E – par value $1 per share; $500 aggregate liquidation preference; authorized, issued and outstanding: 2024 and 2023 – 0.0 shares — — Common stock – par value $0.001 per share; authorized: 2024 and 2023 – 425.0 shares; issued and outstanding: 2024 and 2023 – 203.8 shares — — Additional paid-in capital 19,588 19,499 Retained earnings (accumulated deficit) 2,237 (92) Accumulated other comprehensive loss (5,465) (5,569) Total Athene Holding Ltd. stockholders’ equity 16,360 13,838 Total liabilities and equity $ 24,489 $ 18,669 See accompanying notes to condensed financial information of registrant (parent company only) Years ended December 31, (In millions) 2024 2023 2022 Revenue Net investment income (loss) (related party: 2024 – $(80), 2023 – $85 and 2022 – $58) $ (29) $ 103 $ 65 Investment related gains (losses) 69 — 31 Other revenues 1 2 — Total revenues 41 105 96 Benefits and Expenses Operating expenses (related party: 2024 – $127, 2023 – $106 and 2022 – $99) 459 345 304 Total benefits and expenses 459 345 304 Loss before income taxes and equity earnings in subsidiaries (418) (240) (208) Income tax expense (benefit) (70) (36) 1 Equity earnings (losses) in subsidiaries 3,809 4,869 (2,701) Net income (loss) available to Athene Holding Ltd. stockholders 3,461 4,665 (2,910) Less: Preferred stock dividends 181 181 141 Net income (loss) available to Athene Holding Ltd. common stockholder $ 3,280 $ 4,484 $ (3,051) Net income (loss) available to Athene Holding Ltd. stockholders $ 3,461 $ 4,665 $ (2,910) Other comprehensive income (loss) attributable to Athene Holding Ltd. stockholders 104 1,749 (7,321) Comprehensive income (loss) attributable to Athene Holding Ltd. stockholders $ 3,565 $ 6,414 $ (10,231) See accompanying notes to condensed financial information of registrant (parent company only) Years ended December 31, (In millions) 2024 2023 2022 Net cash used in operating activities $ (336) $ (326) $ (248) Cash flows from investing activities Sales, maturities and repayments of investments 42 3 21 Purchases of investments (related party: 2024 – $(205), 2023 – $(8) and 2022 – $(195)) (891) (8) (244) Capital contributions to subsidiaries (541) (335) (275) Receipts on loans to subsidiaries and parent 8 24 333 Issuances of loans to subsidiaries and parent (411) (103) (328) Other investing activities, net (2) (19) 46 Net cash used in investing activities (1,795) (438) (447) Cash flows from financing activities Proceeds from debt 2,169 589 399 Proceeds from notes payable to subsidiaries 1,551 1,135 1,085 Repayment of notes payable to subsidiaries (475) (1,545) (265) Capital contributions from parent — 1,250 — Issuance of preferred stock, net of expenses — — 487 Preferred stock dividends (226) (136) (141) Common stock dividends (452) (938) (1,313) Other financing activities, net 45 (6) (2) Net cash provided by financing activities 2,612 349 250 Net increase (decrease) in cash and cash equivalents 481 (415) (445) Cash and cash equivalents at beginning of year 326 741 1,186 Cash and cash equivalents at end of year $ 807 $ 326 $ 741 Supplementary information Cash paid for interest $ 239 $ 139 $ 111 Non-cash transactions Investments distributed as capital contributions to subsidiaries 693 — — Investments distributed as common stock dividends 499 — — Distributions to parent — — 2,145 Investments transferred to subsidiary for settlement of loans 429 — 82 See accompanying notes to condensed financial information of registrant (parent company only) 1. Basis of Presentation The accompanying condensed financial statements of Athene Holding Ltd. (AHL) should be read in conjunction with the consolidated financial statements and notes of AHL and its subsidiaries (consolidated financial statements). For purposes of these condensed financial statements, AHL’s wholly owned and majority owned subsidiaries are presented under the equity method of accounting. Under this method, the assets and liabilities of subsidiaries are not consolidated. The investments in subsidiaries are recorded on the condensed balance sheets. The income from subsidiaries is reported on a net basis as equity earnings of subsidiaries on the condensed statements of income (loss). 2. Intercompany Transactions Unsecured Revolving Notes Receivable —AHL has unsecured revolving notes receivable from subsidiaries Athene USA Corporation (AUSA), Athene Life Re Ltd. (ALRe) and Athene Life Re International Ltd. (ALReI). The unsecured revolving note receivable from AUSA has a borrowing capacity of $500 million and had an outstanding balance of $0 million and $41 million as of December 31, 2024 and 2023, respectively. Interest accrues at a fixed rate of 4.08% per year, and the balance is due on July 1, 2031, or earlier at AHL’s request. The unsecured revolving note receivable from ALRe has a borrowing capacity of $4 billion and had no outstanding balance as of December 31, 2024 and 2023. Interest accrues at a fixed rate of 2.29% and has a maturity date of December 15, 2028, or earlier at AHL’s request. The unsecured revolving note receivable from ALReI has a borrowing capacity of $100 million and had no outstanding balance as of December 31, 2024 and 2023. Interest accrues at the US mid-term applicable federal rate per year and has a maturity date of July 1, 2028, or earlier at AHL’s request. Unsecured Revolving Notes Payable —In addition to the unsecured revolving notes receivable described above, AHL has unsecured revolving notes payable with AUSA and ALRe. The unsecured revolving note payable to AUSA permits AHL to borrow up to $500 million with a fixed interest rate of 4.08% and a maturity date of July 1, 2031. As of December 31, 2024 and 2023, the revolving note payable had an outstanding balance of $18 million and $0 million, respectively. The unsecured revolving note payable to ALRe permits AHL to borrow up to $4 billion with a fixed interest rate of 2.29% and a maturity date of December 15, 2028. As of December 31, 2024 and 2023, the revolving note payable had an outstanding balance of $1,562 million and $486 million, respectively. 3. Debt and Guarantees AHL has entered into a capital maintenance agreement with Athene Annuity and Life Company (AAIA), pursuant to which AHL agrees to provide capital to AAIA to the extent that its capital falls below a specified threshold as set with its domestic regulator. In addition, AHL entered into a capital maintenance agreement with its indirect subsidiary Athene London Assignment Corporation (Athene London) pursuant to which AHL agreed to contribute cash, cash equivalents, marketable securities or other liquid assets so as to maintain capital in Athene London to ensure that it has the necessary funds to timely satisfy any obligations it has under any assumed settlement agreement. AHL does not anticipate making any capital infusions in Athene London pursuant to the capital maintenance agreement. See Note 11 – Debt and Note 16 – Commitments and Contingencies to the consolidated financial statements for additional information on AHL debt and guarantees. 4. Dividends, Return of Capital and Capital Contributions During the years ended December 31, 2024, 2023 and 2022, AHL received no dividends from subsidiaries. During the years ended December 31, 2024, 2023 and 2022, AHL contributed $1,234 million, $335 million and $275 million, respectively, to subsidiaries. See Note 14 – Statutory Requirements to the consolidated financial statements for additional information on subsidiary dividend restrictions.

Schedule III - Supplementary In

Schedule III - Supplementary Insurance Information (Notes)	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
Supplementary Insurance Information	(In millions) DAC, DSI and VOBA Future policy benefits, losses, claims and loss expenses 1 Other policy claims and benefits payable 2 Premiums Net investment income Benefits, claims, losses and settlement expenses 3 Amortization of DAC, DSI and VOBA Policy and other operating expenses 2024 Total $ 7,173 $ 307,567 $ 107 $ 1,318 $ 14,481 $ 11,901 $ 941 $ 2,213 2023 Total $ 5,979 $ 261,708 $ 98 $ 12,749 $ 11,130 $ 21,067 $ 688 $ 1,848 2022 Total $ 4,466 $ 218,696 $ 129 $ 11,638 $ 7,571 $ 11,346 $ 444 $ 1,495 1 Represents interest sensitive contract liabilities, future policy benefits and market risk benefits on the consolidated balance sheets. 2 Included in other liabilities on the consolidated balance sheets. 3 Represents interest sensitive contract benefits, future policy and other policy benefits and market risk benefits remeasurement (gains) losses on the consolidated statements of income (loss).

Schedule IV - Reinsurance (Note

Schedule IV - Reinsurance (Notes)	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
Reinsurance	(In millions, except percentages) Gross amount Ceded to other companies Assumed from other companies Net amount Percentage of amount assumed to net Year ended December 31, 2024 Life insurance in force at end of year $ 20,801 $ 24,255 $ 7,101 $ 3,647 194.7 % Premiums 1,089 84 313 1,318 23.7 % Year ended December 31, 2023 Life insurance in force at end of year 22,708 27,107 8,242 3,843 214.5 % Premiums 10,525 89 2,313 12,749 18.1 % Year ended December 31, 2022 Life insurance in force at end of year 24,433 25,399 2,355 1,389 169.5 % Premiums 11,373 112 377 11,638 3.2 %

Schedule V - Valuation and Qual

Schedule V - Valuation and Qualifying Accounts (Notes)	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts	(In millions) Additions Description Balance at beginning of year Charged to costs and expenses Assumed through acquisitions Deductions Balance at end of year Reserves deducted from assets to which they apply Year ended December 31, 2024 Valuation allowance on deferred tax assets $ 25 $ 23 $ — $ — $ 48 Year ended December 31, 2023 Valuation allowance on deferred tax assets 105 148 — (228) 25 Year ended December 31, 2022 Valuation allowance on deferred tax assets 66 53 — (14) 105

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 3,461	$ 4,665	$ (2,910)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
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

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	We have developed a comprehensive information security program that is designed to protect and preserve the confidentiality, integrity, and continued availability of all information that we own or possess. The program is a critical component of our overall IT Security, Risk, and Compliance Management Program, which is based, in part, on recognized frameworks established by the National Institute of Standards and Technology, the International Organization for Standardization and other applicable industry standards. Key features of the program include: • Implementation of a detailed cyber incident response plan that provides controls and procedures for identifying, assessing, containing, remediating, escalating, and reporting cyber incidents. • Cross-functional approach to addressing cybersecurity risk, with engagement among internal working groups such as Risk, Information Technology, Operations, Procurement, Legal, Compliance, and Internal Audit functions. • Information security policies and procedures that are reviewed at least annually and updated to reflect changes in law, technology, practice, and emerging threats. • Cybersecurity awareness training for employees, upon hire and at least annually thereafter; • Ongoing monitoring, and periodic assessment and testing, of our networks and systems for threats, vulnerabilities, and other cybersecurity risks, internal and external. • Periodic tabletop exercises and response readiness assessments, with participation from senior executives, led by outside advisors who provide a third-party independent assessment of our technical program and internal response preparedness; results are provided to the audit committee. • Development of risk mitigation strategies that may defray costs associated with an information security breach. • Periodic cyber drills and disaster recovery tests which are designed to help ensure our business operations can continue in the event of a cybersecurity attack. • Comprehensive internal risk assessment of critical third-party service providers, including of their cybersecurity posture prior to onboarding; contractual requirements for critical third-party service providers to adhere to our standards and incidents reporting; once engaged, critical third-party service providers are required to maintain a comprehensive cybersecurity plan in conformity with industry standards.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We have developed a comprehensive information security program that is designed to protect and preserve the confidentiality, integrity, and continued availability of all information that we own or possess. The program is a critical component of our overall IT Security, Risk, and Compliance Management Program, which is based, in part, on recognized frameworks established by the National Institute of Standards and Technology, the International Organization for Standardization and other applicable industry standards. Key features of the program include: • Implementation of a detailed cyber incident response plan that provides controls and procedures for identifying, assessing, containing, remediating, escalating, and reporting cyber incidents. • Cross-functional approach to addressing cybersecurity risk, with engagement among internal working groups such as Risk, Information Technology, Operations, Procurement, Legal, Compliance, and Internal Audit functions. • Information security policies and procedures that are reviewed at least annually and updated to reflect changes in law, technology, practice, and emerging threats. • Cybersecurity awareness training for employees, upon hire and at least annually thereafter; • Ongoing monitoring, and periodic assessment and testing, of our networks and systems for threats, vulnerabilities, and other cybersecurity risks, internal and external. • Periodic tabletop exercises and response readiness assessments, with participation from senior executives, led by outside advisors who provide a third-party independent assessment of our technical program and internal response preparedness; results are provided to the audit committee. • Development of risk mitigation strategies that may defray costs associated with an information security breach. • Periodic cyber drills and disaster recovery tests which are designed to help ensure our business operations can continue in the event of a cybersecurity attack. •
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	In addition, the CIO, CISO, General Counsel and certain other members of senior management meet periodically with the audit, risk, and legal and regulatory committees of the board of directors to review our information technology and cybersecurity risk profile and to discuss risk mitigation plans. While the board risk committee is ultimately responsible for overseeing the management of our information security program at the board level, the audit and legal and regulatory committees assist the risk committees in fulfilling its duties. Each of the board committees regularly briefs the full board of directors on matters reported to them.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	While the board risk committee is ultimately responsible for overseeing the management of our information security program at the board level, the audit and legal and regulatory committees assist the risk committees in fulfilling its duties
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Each of the board committees regularly briefs the full board of directors on matters reported to them. See Item 10. Directors, Executive Officers and Corporate Governance—Corporate Governance—Risk Management Oversight
Cybersecurity Risk Role of Management [Text Block]	Our information security program is managed by our Chief Information Security Officer (CISO) with collaboration across lines of businesses and corporate functions. The CISO is a senior-level executive responsible for establishing and executing our information security strategy, including cybersecurity oversight. The CISO reports directly to our Chief Information Officer (CIO), who reports directly to our Chief Operating Officer (COO). The CIO and CISO are members of the management operational risk committee, which reports to the management risk committee. The COO is a member of the management risk committee, which reports to the board risk committee. See Item 10. Directors, Executive Officers and Corporate Governance—Corporate Governance—Committees of the Board of Directors—Management Committees for additional information about the management operational risk committee, which is responsible for overseeing operational risk, including cybersecurity risk, and the management risk committee, which is responsible for overseeing overall corporate risk. In addition, the CIO, CISO, General Counsel and certain other members of senior management meet periodically with the audit, risk, and legal and regulatory committees of the board of directors to review our information technology and cybersecurity risk profile and to discuss risk mitigation plans. While the board risk committee is ultimately responsible for overseeing the management of our information security program at the board level, the audit and legal and regulatory committees assist the risk committees in fulfilling its duties. Each of the board committees regularly briefs the full board of directors on matters reported to them. See Item 10. Directors, Executive Officers and Corporate Governance—Corporate Governance—Risk Management Oversight for additional information regarding the role of our board of directors in risk management oversight, including its oversight of risks from cybersecurity threats. We have not identified any risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, that have materially affected us, our business strategy, results of operation or financial condition. See Item 1A. Risk Factors—Risks Relating to Our Business Operations—Interruption or other operational failures in telecommunications, information technology and other operational systems, including as a result of threat actors attacking those systems, or a failure to maintain the security, integrity, confidentiality or privacy of sensitive data residing on those systems, including as a result of human error, could have a material adverse effect on our business and Item 1A. Risk Factors—Risks Relating to Our Relationship with Apollo—Interruption or other operational failures in telecommunications, information technology and other operational systems at Apollo or a failure to maintain the security, integrity, confidentiality or privacy of sensitive data residing on Apollo’s systems, including as a result of human error, could have a material adverse effect on our business for further discussion of the risks we face from cybersecurity threats. The CIO is responsible for managing our information technology strategy. Our CIO has over 30 years of insurance and financial services operations and technology experience, including as chief information officer at large insurance companies; and received a Bachelor of Science in business management and a Master of Business Administration in management information systems.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our information security program is managed by our Chief Information Security Officer (CISO) with collaboration across lines of businesses and corporate functions. The CISO is a senior-level executive responsible for establishing and executing our information security strategy, including cybersecurity oversight. The CISO reports directly to our Chief Information Officer (CIO), who reports directly to our Chief Operating Officer (COO). The CIO and CISO are members of the management operational risk committee, which reports to the management risk committee. The COO is a member of the management risk committee, which reports to the board risk committee. See Item 10. Directors, Executive Officers and Corporate Governance—Corporate Governance—Committees of the Board of Directors—Management Committees
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The CIO is responsible for managing our information technology strategy. Our CIO has over 30 years of insurance and financial services operations and technology experience, including as chief information officer at large insurance companies; and received a Bachelor of Science in business management and a Master of Business Administration in management information systems.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The CISO reports directly to our Chief Information Officer (CIO), who reports directly to our Chief Operating Officer (COO). The CIO and CISO are members of the management operational risk committee, which reports to the management risk committee.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Business, Basis of Presentati_2

Business, Basis of Presentation, and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Consolidation and Basis of Presentation	Our consolidated financial statements include our wholly owned subsidiaries and investees in which we hold a controlling financial interest, including variable interest entities (VIEs). Investees in which we do not hold a controlling financial interest but have the ability to exercise significant influence over operating and financing decisions, other than investments for which we have elected the fair value option, are accounted for under the equity method. Intercompany balances and transactions have been eliminated. 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 consolidated financial statements. We report investments in related parties separately, as further described in the accounting policies that follow. We have prepared the consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (US GAAP), which requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. Actual experience could materially differ from these estimates and assumptions. Our principal estimates impact: • fair value of investments; • impairment of investments and allowances for expected credit losses; • derivatives valuation, including embedded derivatives; • future policy benefit reserves; • market risk benefit assets and liabilities; and • valuation allowances on deferred tax assets. Additional details around these principal estimates and assumptions are discussed in the significant accounting policies that follow and the related footnote disclosures. Merger – On January 1, 2022, we completed our merger with Apollo Global Management, Inc. (AGM, and together with its subsidiaries other than us or our subsidiaries, Apollo) and are now a direct subsidiary of AGM. We elected pushdown accounting in which we use AGM’s basis of accounting, which reflects the fair market value of our assets and liabilities at the time of the merger, unless otherwise prescribed by US GAAP. See Note 2 – Business Combination for further information on the merger.
Basis of Presentation	We have prepared the consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (US GAAP), which requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period.
Use of Estimates	We have prepared the consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (US GAAP), which requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. Actual experience could materially differ from these estimates and assumptions. Our principal estimates impact: • fair value of investments; • impairment of investments and allowances for expected credit losses; • derivatives valuation, including embedded derivatives; • future policy benefit reserves; • market risk benefit assets and liabilities; and • valuation allowances on deferred tax assets. Additional details around these principal estimates and assumptions are discussed in the significant accounting policies that follow and the related footnote disclosures. Merger – On January 1, 2022, we completed our merger with Apollo Global Management, Inc. (AGM, and together with its subsidiaries other than us or our subsidiaries, Apollo) and are now a direct subsidiary of AGM. We elected pushdown accounting in which we use AGM’s basis of accounting, which reflects the fair market value of our assets and liabilities at the time of the merger, unless otherwise prescribed by US GAAP. See Note 2 – Business Combination for further information on the merger.
Investments	Fixed Maturity Securities – Fixed maturity securities include bonds, collateralized loan obligations (CLO), asset-backed securities (ABS), residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS) and redeemable preferred stock. We classify fixed maturity securities as available-for-sale (AFS) or trading at the time of purchase and subsequently carry them at fair value. Fair value hierarchy and valuation methodologies are discussed in Note 6 – Fair Value . Classification is dependent on a variety of factors including our expected holding period, election of the fair value option and asset and liability matching. AFS Securities – AFS securities are held at fair value on the consolidated balance sheets, with unrealized gains and losses, exclusive of allowances for expected credit losses, generally reflected in accumulated other comprehensive income (loss) (AOCI) on the consolidated balance sheets. Unrealized gains or losses relating to identified risks within AFS securities in fair value hedging relationships are reflected in investment related gains (losses) on the consolidated statements of income (loss). Trading Securities – We elected the fair value option for certain fixed maturity securities. These fixed maturity securities are classified as trading, with changes to fair value included in investment related gains (losses) on the consolidated statements of income (loss). Although the securities are classified as trading, the trading activity related to these investments is primarily focused on asset and liability matching activities and is not intended to be an income strategy based on active trading. As such, the activity related to these investments on the consolidated statements of cash flows is classified as investing activities. We generally record security transactions on a trade date basis, with any unsettled trades recorded in other assets or other liabilities on the consolidated balance sheets. Bank loans, private placements and investment funds are recorded on a settlement date basis. Equity Securities – Equity securities include common stock, mutual funds and non-redeemable preferred stock. Equity securities with readily determinable fair values are carried at fair value with subsequent changes in fair value recognized in net income. We elected to account for certain equity securities without readily determinable fair values that did not qualify for the practical expedient to estimate fair values based on net asset value (NAV) per share (or its equivalent) at cost less impairment, subject to adjustments based on observable price changes in orderly transactions for identical or similar investments of the same issuer. Purchased Credit Deteriorated (PCD) Investments – We purchase certain structured securities, primarily RMBS, which upon our assessment have been determined to meet the definition of PCD investments. Additionally, structured securities classified as beneficial interests follow the initial measurement guidance for PCD investments if there is a significant difference between contractual cash flows adjusted for expected prepayments and expected cash flows at the date of recognition. The initial allowance for credit losses for PCD investments is recorded through a gross-up adjustment to the initial amortized cost. For structured securities classified as beneficial interests, the initial allowance is calculated as the present value of the difference between contractual cash flows adjusted for expected prepayments and expected cash flows at the date of recognition. The non-credit purchase discount or premium is amortized into investment income using the effective interest method. The credit discount, represented by the allowance for expected credit losses, is remeasured each period following the policies for measuring credit losses described in the Credit Losses – Available-for-Sale Securities section below. Mortgage Loans – We elected the fair value option on our mortgage loan portfolio. Interest income is accrued on the principal amount of the loan based on its contractual interest rate. We accrue interest on loans until it is probable we will not receive interest, or the loan is 90 days past due unless guaranteed by US government-sponsored agencies. Interest income and prepayment fees are reported in net investment income on the consolidated statements of income (loss). Changes in the fair value of the mortgage loan portfolio are reported in investment related gains (losses) on the consolidated statements of income (loss). Investment Funds – We invest in certain non-fixed income, alternative investments in the form of limited partnerships or similar legal structures (investment funds). For investment funds in which we do not hold a controlling financial interest, and therefore are not required to consolidate, we typically account for these investments using the equity method, where the cost is recorded as an investment in the fund, or we have elected the fair value option. Adjustments to the carrying amount reflect our pro rata ownership percentage of the operating results as indicated by NAV in the investment fund financial statements, which can be on a lag of up to three months when investee information is not received in a timely manner. We record our proportionate share of investment fund income within net investment income, or, for consolidated VIEs, investment related gains (losses), on the consolidated statements of income (loss). Contributions paid or distributions received by us are recorded directly to the investment fund balance as an increase to carrying value or as a return of capital, respectively. Policy Loans – Policy loans are funds provided to policyholders in return for a claim on the policyholder’s account balance. The funds provided are limited to a specified percentage of the account balance. The majority of policy loans do not have a stated maturity and the balances and accrued interest are repaid with proceeds from the policyholder’s account balance. Policy loans are reported at the unpaid principal balance. Interest income is recorded as earned using the contract interest rate and is reported in net investment income on the consolidated statements of income (loss). Funds Withheld at Interest – Funds withheld at interest represents a receivable for amounts contractually withheld by ceding companies in accordance with funds withheld coinsurance (funds withheld) and modified coinsurance (modco) reinsurance agreements in which we are the reinsurer. Generally, assets equal to statutory reserves are withheld and legally owned by the ceding company, and any excess or shortfall is settled periodically. The underlying agreements contain embedded derivatives as discussed below. Short-term Investments – Short-term investments consist of financial instruments with maturities of greater than three months but less than twelve months when purchased. Short-term debt securities are accounted for as trading or AFS consistent with our policies for those investments. Short-term loans are carried at amortized cost. Fair values are determined consistently with methodologies described in Note 6 – Fair Value for the respective investment type. Other Investments – Other investments include, but are not limited to, term loans collateralized by mortgages on residential and commercial real estate, other uncollateralized loans, investments in real estate and corporate owned life insurance. We elected the fair value option on the term loans and other uncollateralized loans. Investments in real estate are held at cost less accumulated depreciation and impairments. Corporate owned life insurance is held at cash surrender value. Interest income is accrued on the principal amount of the loan based on its contractual interest rate. We accrue interest on loans until it is probable we will not receive interest or the loan is 90 days past due. Changes in the cash surrender value of corporate owned life insurance, interest income, amortization of premiums and discounts, and prepayment and other fees are included in net investment income on the consolidated statements of income (loss). Changes in fair value are included in investment related gains (losses) on the consolidated statements of income (loss). Securities Repurchase and Reverse Repurchase Agreements – Securities repurchase and reverse repurchase transactions involve the temporary exchange of securities for cash or other collateral of equivalent value, with agreement to redeliver a like quantity of the same or similar securities at a future date and at a fixed and determinable price. We evaluate transfers of securities under these agreements to repurchase or resell to determine whether they satisfy the criteria for accounting treatment as secured borrowing or lending arrangements. Agreements not meeting the criteria would require recognition of the transferred securities as sales or purchases, with related forward repurchase or resale commitments. All of our securities repurchase transactions are accounted for as secured borrowings and are included in payables for collateral on derivatives and securities to repurchase on the consolidated balance sheets. Earnings from investing activities related to the cash received under our securities repurchase arrangements are included in net investment income on the consolidated statements of income (loss). The associated borrowing cost is included in policy and other operating expenses on the consolidated statements of income (loss). The investments purchased in reverse repurchase agreements, which represent collateral on a secured lending arrangement, are not reflected in our consolidated balance sheets; however, the secured lending arrangement is recorded as a short-term investment for the principal amount loaned under the agreement. Investment Income – We recognize investment income as it accrues or is legally due, net of investment management and custody fees. Investment income on fixed maturity securities includes coupon interest, as well as the amortization of any premium and the accretion of any discount. Investment income on equity securities represents dividend income and preferred coupon interest. Realized gains and losses on sales of investments are included in investment related gains (losses) on the consolidated statements of income (loss). Realized gains and losses on investments sold are determined based on a first-in first-out method. Credit Losses – Available-for-Sale Securities and Other – We evaluate AFS securities with a fair value that has declined below amortized cost to determine how the decline in fair value should be recognized. If we determine, based on the facts and circumstances related to the specific security, that we intend to sell a security or it is more likely than not that we would be required to sell a security before the recovery of its amortized cost, any existing allowance for expected credit losses is reversed and the amortized cost of the security is written down to fair value. If neither of these conditions exist, we evaluate whether the decline in fair value has resulted from a credit loss or other factors. For non-structured AFS securities, we qualitatively consider relevant facts and circumstances in evaluating whether a decline below fair value is credit - related. Relevant facts and circumstances include but are not limited to: (1) the extent to which the fair value is less than amortized cost; (2) changes in agency credit ratings, (3) adverse conditions related to the security’s industry or geographical area, (4) failure to make scheduled payments, and (5) other known changes in the financial condition of the issuer or quality of any underlying collateral or credit enhancements. For structured AFS securities meeting the definition of beneficial interests, the qualitative assessment is bypassed, and any securities having experienced a decline in fair value below amortized cost move directly to a quantitative analysis. If upon completion of this analysis it is determined that a potential credit loss exists, an allowance for expected credit losses is established equal to the amount by which the present value of expected cash flows is less than amortized cost, limited by the amount by which fair value is less than amortized cost. A non-structured security’s cash flow estimates are derived from scenario-based outcomes of expected corporate restructurings or the disposition of assets using security-specific facts and circumstances including timing, security interests and loss severity. A structured security’s cash flow estimates are based on security-specific facts and circumstances that may include collateral characteristics, expectations of delinquency and default rates, loss severity, prepayments and structural support, including subordination and guarantees. The expected cash flows are discounted at the effective interest rate implicit to the security at the date of purchase or the current yield to accrete a structured security. For securities with a contractual interest rate that varies based on changes in an independent factor, such as an index or rate, the effective interest rate is calculated based on the factor as it changes over the life of the security. Inherently under the discounted cash flow model, both the timing and amount of expected cash flows affect the measurement of the allowance for expected credit losses. The allowance for expected credit losses is remeasured each period for the passage of time, any change in expected cash flows, and changes in the fair value of the security. All impairments, whether intent or requirement to sell or credit-related, and all changes in the allowance for expected credit losses are recorded through the provision for credit losses within investment related gains (losses) on the consolidated statements of income (loss). We also establish an allowance for expected credit losses for assets held at amortized cost at the time of purchase, which includes certain other loans and reinsurance assets. The allowance for expected credit losses considers past events, current conditions, and reasonable and supportable forecasts of future economic conditions or macroeconomic forecasts. We use a quantitative probability of default and loss given default methodology to develop our estimate of expected credit loss. The provision for credit losses for reinsurance assets held at amortized cost is recorded through policy and other operating expenses on the consolidated statements of income (loss). We have elected to present accrued interest receivable separately in accrued investment income on the consolidated balance sheets. We have also elected the practical expedient to exclude the accrued interest receivable from the amortized cost balance used to calculate the allowance for expected credit losses, as we have a policy to write off such balances in a timely manner, when they become 90 days past due. Any write-off of accrued interest is recorded through a reversal of net investment income on the consolidated statements of income (loss). Upon determining that all or a portion of the amortized cost of an asset is uncollectible, which is generally when all efforts for collection are exhausted, the amortized cost is written off against the existing allowance. Any write off in excess of the existing allowance is recorded through the provision for credit losses within investment related gains (losses) on the consolidated statements of income (loss).
Derivative Instruments	We invest in derivatives to hedge the risks experienced in our ongoing operations, such as equity, interest rate, foreign currency and market volatility , or for other risk management purposes, which primarily involve managing liability risks associated with our indexed annuity products and reinsurance agreements. Derivatives are financial instruments with values that are derived from interest rates, foreign exchange rates, financial indices or other combinations of an underlying and notional. Derivative assets and liabilities are carried at fair value on the consolidated balance sheets. We elect to present any derivatives subject to master netting provisions as a gross asset or liability and gross of collateral. Disclosures regarding balance sheet presentation of derivatives subject to master netting agreements are discussed in Note 4 – Derivative Instruments . We may designate derivatives as cash flow, fair value or net investment hedges. Hedge Documentation and Hedge Effectiveness – To qualify for hedge accounting, at the inception of the hedging relationship, we formally document our designation of the hedge as a cash flow, fair value or net investment hedge and our risk management objective and strategy for undertaking the hedging transaction. In this documentation, we identify how the hedging instrument is expected to hedge the designated risks related to the hedged item and the method that will be used to retrospectively and prospectively assess the hedge effectiveness and the method which will be used to measure ineffectiveness. A derivative designated as a hedging instrument must be assessed as being highly effective in offsetting the designated risk of the hedged item. Hedge effectiveness is formally assessed at inception and periodically throughout the life of the hedge accounting relationship. For a cash flow hedge, all changes in the fair value of the hedging derivative are reported within AOCI and the related gains or losses on the derivative are reclassified into the consolidated statements of income (loss) when the cash flows of the hedged item affect earnings. For a fair value hedge, changes in the fair value of the hedging derivative and changes in the fair value of the hedged item related to the designated risk being hedged are reported on the consolidated statements of income (loss) according to the nature of the risk being hedged. Additionally, changes in the fair value of amounts excluded from the assessment of effectiveness are recorded in AOCI and amortized into income over the life of the hedge accounting relationship. For a net investment hedge, changes in the fair value of the hedging derivative are reported within AOCI to offset the translation adjustments for subsidiaries with functional currencies other than the US dollar. We discontinue hedge accounting prospectively when: (1) we determine the derivative is no longer highly effective in offsetting changes in the estimated cash flows or fair value of a hedged item; (2) the derivative expires, is sold, terminated, or exercised; or (3) the derivative is de-designated as a hedging instrument. When hedge accounting is discontinued, the derivative continues to be carried on the consolidated balance sheets at fair value, with changes in fair value recognized in investment related gains (losses) on the consolidated statements of income (loss). For a derivative not designated as a hedge, changes in the derivative’s fair value and any income received or paid on derivatives at the settlement date are included in investment related gains (losses) on the consolidated statements of income (loss). Embedded Derivatives – We issue and reinsure products, primarily indexed annuity products, or purchase investments that contain embedded derivatives. If we determine the embedded derivative has economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, and a separate instrument with the same terms would qualify as a derivative instrument, the embedded derivative is bifurcated from the host contract and accounted for separately, unless the fair value option is elected on the host contract. Under the fair value option, bifurcation of the embedded derivative is not necessary as the entire contract is carried at fair value with all related gains and losses recognized in investment related gains (losses) on the consolidated statements of income (loss). Embedded derivatives are carried on the consolidated balance sheets at fair value in the same line item as the host contract. Fixed indexed annuity, index-linked variable annuity and indexed universal life insurance contracts allow the policyholder to elect a fixed interest rate return or an equity market component for which interest credited is based on the performance of certain equity market indices. The equity market option is an embedded derivative. The benefit reserve is equal to the sum of the fair value of the embedded derivative and the host (or guaranteed) component of the contracts. The fair value of the embedded derivatives represents the present value of cash flows attributable to the indexed strategies. The embedded derivative cash flows are based on assumptions for future policy growth, which include assumptions for expected index credits on the next policy anniversary date, future equity option costs, volatility, interest rates and policyholder behavior assumptions including lapses and the use of benefit riders. The embedded derivative cash flows are discounted using a rate that reflects our own credit rating. The host contract is established at contract inception as the initial account value less the initial fair value of the embedded derivative and accreted over the policy’s life. Contracts acquired through a business combination which contain an embedded derivative are re-bifurcated as of the acquisition date. Changes in the fair value of embedded derivatives associated with fixed indexed annuities, index-linked variable annuities and indexed universal life insurance contracts are included in interest sensitive contract benefits on the consolidated statements of income (loss). Additionally, reinsurance agreements written on a funds withheld or modco basis contain embedded derivatives. We have determined that the right to receive or obligation to pay the total return on the assets supporting the funds withheld at interest or funds withheld liability, respectively, represents a total return swap with a floating rate leg. The fair value of embedded derivatives on funds withheld and modco agreements is computed as the unrealized gain (loss) on the underlying assets and is included within funds withheld at interest for assumed agreements, and for ceded agreements the funds withheld liability is included in other liabilities on the consolidated balance sheets. The change in the fair value of the embedded derivatives is recorded in investment related gains (losses) on the consolidated statements of income (loss). Assumed and ceded earnings from funds withheld at interest, funds withheld liability and changes in the fair value of embedded derivatives are reported in operating activities on the consolidated statements of cash flows. Contributions to and withdrawals from funds withheld at interest and funds withheld liability are reported in operating activities on the consolidated statements of cash flows.
Variable Interest Entities	An entity that does not have sufficient equity to finance its activities without additional financial support, or in which the equity investors, as a group, do not have the characteristics typically afforded to common stockholders is a VIE. The determination as to whether an entity qualifies as a VIE depends on the facts and circumstances surrounding each entity and may require significant judgment. Our investment funds typically qualify as VIEs and are evaluated for consolidation under the VIE model. We are required to consolidate a VIE if we are the primary beneficiary, defined as the variable interest holder with both the power to direct the activities that most significantly impact the VIE’s economic performance and rights to receive benefits or obligations to absorb losses that could be potentially significant to the VIE. We determine whether we are the primary beneficiary of an entity based on a qualitative assessment of the VIE’s capital structure, contractual terms, nature of the VIE’s operations and purpose and our relative exposure to the related risks of the VIE. Since affiliates of AGM, a related party under common control, are the decision makers in certain of the investment funds and securitization vehicles, we and a member of our related party group may together have the characteristics of the primary beneficiary of an investment fund. In this situation, we have concluded we consolidate the VIE when we have significant economic exposure to the entity. We reassess the VIE and primary beneficiary determinations on an ongoing basis. For entities that we do not consolidate but can exercise significant influence over the entities’ operating and financing decisions, we record our investment under the equity method. If we do not consolidate and do not have significant influence, generally on investment funds in which we own a less than 3% interest, we elect the fair value option.
Reinsurance	We assume or cede insurance and investment contracts under coinsurance, funds withheld, modco and yearly renewable term bases. 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 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. See Note 7 – Reinsurance for more information. Assets and liabilities assumed or ceded under coinsurance, funds withheld, modco or yearly renewable term are presented gross on the 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 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 consolidated statements of income (loss), except any changes related to the discount rate are presented net in other comprehensive income (loss) (OCI) on the 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 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 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), or on a consistent basis with deferred profit liability dependent upon the nature of the underlying contract.
Cash and Cash Equivalents	Cash and cash equivalents include deposits and short-term highly liquid investments with an original maturity of less than 90 days from the date of acquisition. Amounts included are readily convertible to known amounts of cash and are subject to an insignificant risk of change in value.
Restricted Cash	Restricted cash primarily consists of cash and cash equivalents held in funds in trust as part of certain coinsurance agreements to secure statutory reserves and liabilities of the coinsured parties. Restricted cash is reported separately on the consolidated balance sheets but is included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period amounts shown on the consolidated statements of cash flows.
Investments in Related Parties	Investments in related parties and associated earnings, other comprehensive income and cash flows are separately identified on the consolidated financial statements and accounted for consistently with the policies described above for each category of investment. Investments in related parties are primarily comprised of investments over which Apollo can exercise significant influence.
Deferred Acquisition Costs	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 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 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 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 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 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	We establish VOBA for blocks of insurance contracts acquired through the acquisition of insurance entities and through application of pushdown accounting. 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 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 consolidated balance sheets.
Future Policy Benefits	We issue or reinsure contracts classified as long-duration, which include term and whole life, accident and health, disability, and deferred 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 future 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 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 characteristics of the liability, including the duration and currency of the underlying cash flows. 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 consolidated statements of comprehensive income (loss). Changes in the liability for remeasurement gains or losses and all other changes in the liability are recorded in future policy and other policy benefits on the consolidated statements of income (loss). Future policy benefits include liabilities for no-lapse guarantees on universal life insurance and fixed indexed universal life insurance. 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. 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 are recorded in future policy and other policy benefits on the 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 consolidated balance sheets.
Closed Block Business	We established closed blocks of policies in connection with the reorganization of two predecessor subsidiaries from mutual companies to stock companies, collectively referred to as the Closed Blocks, and individually referred to as the AmerUs Life Insurance Company (AmerUs) closed block (AmerUs Closed Block) and the Indianapolis Life Insurance Company (ILICO) closed block (ILICO Closed Block). Insurance policies which had a dividend scale in effect as of each closed block establishment date were included in the respective closed block. The Closed Blocks were designed to give reasonable assurance to owners of insurance policies included therein that, after the reorganization, assets would be available to maintain the dividend scales and interest credits in effect prior to the reorganization, if the experience underlying such scales and crediting continued. The assets, including related revenue, allocated to the Closed Blocks will accrue solely to the benefit of the policyholders included in the Closed Blocks until they no longer exist. A policyholder dividend obligation is required to be established for earnings in the Closed Blocks that are not available to the stockholders. We elected the fair value option for the AmerUs Closed Block and the ILICO Closed Block.
Foreign Currency	The accounts of foreign-based subsidiaries and equity method investments are measured using their functional currency. Revenue and expenses of these subsidiaries are translated into US dollars at the average exchange rate for the period. Assets and liabilities are translated at the exchange rate as of the end of the reporting period. For equity method investments, the proportionate share of the investee’s income is translated into US dollars at the average exchange rate for the period and the investment is translated using the exchange rate as of the end of the reporting period. The resulting translation adjustments are included in equity as a component of AOCI. Gains or losses arising from transactions denominated in a currency other than the functional currency of the entity that is party to the transaction are included in net income. The impacts of any non-US dollar denominated AFS securities are included in AOCI along with the change in its fair value unless in a fair value hedging relationship.
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 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, 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 consolidated balance sheets and amortized into income in relation to either applicable policyholder liabilities for immediate annuities with life contingencies (which includes pension group annuities) or insurance in-force for whole life products through future policy and other policy benefits on the 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 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.
Income Taxes	We compute income taxes using the asset and liability method, under which deferred income taxes are provided for the temporary differences between the financial statement carrying amounts and the tax basis of our assets and liabilities using estimated tax rates expected to be in effect for the year in which the differences are expected to reverse. Such temporary differences are primarily due to the tax basis of reserves, DAC, VOBA, unrealized investment gains/losses, reinsurance related differences, embedded derivatives and net operating loss carryforwards. Changes in deferred income tax assets and liabilities associated with components of OCI are recorded directly to OCI. Deferred income taxes related to investments in our corporate foreign subsidiaries are computed using an outside basis approach. We record deferred taxes for those components of the outside basis difference, which are expected to reverse in the foreseeable future, without limitation to the overall outside basis difference. We evaluate the likelihood of realizing the benefit of our deferred tax assets and may record a valuation allowance if, based on all available evidence, we determine that it is more likely than not that some portion of the tax benefit will not be realized. We adjust the valuation allowance if, based on our evaluation, there is a change in the amount of deferred income tax assets that are deemed more-likely-than-not to be realized. Changes in deferred tax assets and liabilities attributable to changes in enacted income tax rates are recorded through net income in the period of enactment. We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the relevant taxing authorities, based on the technical merits of our position. For those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. We recognize any income tax interest and penalties in income tax expense. We and certain of our subsidiaries are included in certain foreign and state consolidated or other tax groups with our parent AGM and its subsidiaries. We calculate the provision for income taxes by using a separate-return method. Under this method we are assumed to file a separate return with the tax authority, thereby reporting our taxable income or loss and paying the applicable tax to or receiving the appropriate refund from AGM. Our current provision is the amount of tax payable or refundable on the basis of a hypothetical current-year separate return. We provide deferred taxes on temporary differences and on any carryforwards that we could claim on our hypothetical return and assess the need for a valuation allowance on the basis of our projected separate-return results. Any difference between the tax provision (or benefit) allocated to us under the separate-return method and payments to be made to (or received from) AGM for tax expense is treated as either a dividend or a capital contribution. Accordingly, the amount by which our tax liability under the separate-return method differs from the amount of tax liability ultimately settled as a result of using incremental expenses of AGM may be periodically settled as a dividend or capital contribution between AGM and us.
Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Compensation – Stock Compensation (Accounting Standards Update (ASU) 2024-01) The amendments in this update clarify how an entity determines whether it is required to account for profits interest awards (and similar awards) in accordance with Accounting Standards Codification (ASC) 718 Compensation – Stock Compensation or other guidance. The ASU provides specific examples on when profits interest awards should be accounted for as a share-based payment arrangement under ASC 718 or in a manner similar to a cash bonus or profit-sharing arrangement under ASC 710 Compensation – General or other ASC topics. The guidance is effective for us on January 1, 2025. We expect the impact of the new pronouncement on our consolidated financial statements will be immaterial. Income Taxes—Improvements to Income Tax Disclosures (ASU 2023-09) The amendments in this update revise certain disclosures on income taxes including rate reconciliation, income taxes paid, and certain amendments on disaggregation by federal, state and foreign taxes. The guidance is effective for us for annual periods beginning in 2025. Early adoption is permitted. We are currently evaluating the impact of this guidance on our consolidated financial statements. 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. We expect the impact of this guidance on our consolidated financial statements will be immaterial. Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (ASU 2024-03) The amendments in this update require disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. The ASU requires tabular presentation of each relevant expense caption on the face of the income statement including employee compensation, depreciation, intangible asset amortization and certain other expenses, when applicable. The guidance is effective for us for the 2027 annual period and in interim periods in 2028; early adoption is permitted. We are currently evaluating the impact of this new guidance on our consolidated financial statements. Adopted Accounting Pronouncements Segment Reporting – Improvements to Reporting Segment Disclosures (ASU 2023-07) The amendments in this update require disclosures of incremental segment information on an annual and interim basis for all public entities to provide analyses useful to investors for decision making. The update requires public entities, including those with a single reportable segment, to report significant segment expenses that are regularly provided to and used by the Chief Operating Decision Maker (CODM) in managing the business. We adopted this guidance effective December 31, 2024 on a retrospective basis, and updated financial statement disclosures are included in Note 17 – Segment Information . Reference Rate Reform (Topic 848) (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 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.
Goodwill and Intangible Assets, Goodwill, Policy	Goodwill represents the excess of cost over the fair value of identifiable net assets of an acquired business. Goodwill is tested annually for impairment or more frequently if circumstances indicate impairment may have occurred. The impairment test is performed at the reporting unit level. Goodwill on the consolidated balance sheets includes the impacts of foreign currency translation.We performed our annual goodwill impairment test as of October 1, 2024 and did not identify any impairment.
Market Risk Benefit	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. Our deferred annuity contracts contain guaranteed lifetime withdrawal benefit (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 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 consolidated statements of income (loss), excluding portions attributed to changes in instrument-specific credit risk, which are recorded in OCI on the 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 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.
Insurance, Long-Duration Contract	Universal life-type policies and investment contracts include traditional deferred annuities; indexed annuities consisting of fixed indexed, index-linked variable annuities in the accumulation phase, and assumed indexed universal life without significant mortality risk; 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. For a discussion regarding our indexed products, refer above to the embedded derivative discussion. 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.

Business Combination (Tables)

Business Combination (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Business Acquisitions, by Acquisition	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
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)	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
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: December 31, 2024 (In millions) Amortized Cost Fair Value AFS securities Due in one year or less $ 2,576 $ 2,544 Due after one year through five years 19,949 19,418 Due after five years through ten years 27,734 25,442 Due after ten years 56,409 45,821 CLO, ABS, CMBS and RMBS 74,048 72,139 Total AFS securities 180,716 165,364 AFS securities – related parties Due after one year through five years 1,080 1,071 Due after five years through ten years 847 861 Due after ten years 575 529 CLO and ABS 17,029 16,666 Total AFS securities – related parties 19,531 19,127 Total AFS securities, including related parties $ 200,247 $ 184,491
Schedule of Unrealized Loss on Investments	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: December 31, 2024 Unrealized loss position Unrealized loss position 12 months or more AFS securities 7,745 6,087 AFS securities – related parties 144 60
Debt Securities, Available-for-sale, Allowance for Credit Loss	The following table summarizes the activity in the allowance for credit losses for AFS securities by asset type: Year ended December 31, 2024 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 Corporate $ 129 $ 48 $ — $ (8) $ — $ 6 $ 175 CLO 2 1 — — — (3) — ABS 49 25 — (16) — 18 76 CMBS 29 27 — — — 4 60 RMBS 381 17 — (17) — 16 397 Total AFS securities 590 118 — (41) — 41 708 AFS securities – related parties, ABS 1 — — — — — 1 Total AFS securities, including related parties $ 591 $ 118 $ — $ (41) $ — $ 41 $ 709 Year ended December 31, 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) (15) 3 129 CLO 7 1 — — — (6) 2 ABS 29 23 — (4) — 1 49 CMBS 5 26 — — — (2) 29 RMBS 329 16 53 (16) — (1) 381 Total AFS securities 458 154 53 (55) (15) (5) 590 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 $ 155 $ 53 $ (55) $ (15) $ (6) $ 591
Net Investment Income	Net investment income by asset class consists of the following: Years ended December 31, (In millions) 2024 2023 2022 AFS securities $ 9,698 $ 6,901 $ 4,190 Trading securities 161 182 194 Equity securities 90 76 64 Mortgage loans 3,767 2,360 1,261 Investment funds (35) 105 550 Funds withheld at interest 1,318 1,752 1,844 Other 834 820 270 Investment revenue 15,833 12,196 8,373 Investment expenses (1,352) (1,066) (802) Net investment income $ 14,481 $ 11,130 $ 7,571
Investment Related Gains (Losses)	Investment related gains (losses) by asset class consists of the following: Years ended December 31, (In millions) 2024 2023 2022 AFS securities 1 Gross realized gains on investment activity $ 977 $ 926 $ 1,337 Gross realized losses on investment activity (1,979) (779) (2,151) Net realized investment gains (losses) on AFS securities (1,002) 147 (814) Net recognized investment gains (losses) on trading securities (170) 66 (424) Net recognized investment gains (losses) on equity securities 22 13 (150) Net recognized investment gains (losses) on mortgage loans (132) 207 (2,974) Derivative gains (losses) 2,205 2,135 (9,173) Provision for credit losses (181) (335) (227) Other gains (losses) 1,303 (805) 1,056 Investment related gains (losses) $ 2,045 $ 1,428 $ (12,706) 1 Includes the effects of recognized gains or losses on AFS securities associated with designated hedges.
Unrealized Gain (Loss) on Investments	The following table summarizes the change in unrealized gains (losses) on trading and equity securities, including related parties, we held as of the respective year end: Years ended December 31, (In millions) 2024 2023 2022 Trading securities $ (42) $ 93 $ (414) Equity securities 12 49 (146)
Schedule of Repurchase Agreements	Repurchase Agreements —The following table summarizes the remaining contractual maturities of our repurchase agreements: December 31, (In millions) 2024 2023 Less than 30 days $ 2,752 $ 686 30–90 days 300 — 91 days to 1 year 1,095 — Greater than 1 year 1,569 3,167 Payables for repurchase agreements $ 5,716 $ 3,853 The following table summarizes the securities pledged as collateral for repurchase agreements: December 31, 2024 2023 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value AFS securities US government and agencies $ 3,253 $ 2,693 $ — $ — Foreign governments 159 107 137 99 Corporate 1,877 1,573 2,735 2,307 CLO 587 588 580 579 ABS 596 552 1,207 1,086 RMBS 369 365 — — Total securities pledged under repurchase agreements $ 6,841 $ 5,878 $ 4,659 $ 4,071
Mortgage Loans, Net	The following represents the mortgage loan portfolio, with fair value option loans presented at unpaid principal balance: December 31, (In millions) 2024 2023 Commercial mortgage loans $ 32,544 $ 27,630 Commercial mortgage loans under development 1,987 1,228 Total commercial mortgage loans 34,531 28,858 Mark to fair value (2,099) (2,246) Commercial mortgage loans 32,432 26,612 Residential mortgage loans 35,223 21,894 Mark to fair value (540) (937) Residential mortgage loans 34,683 20,957 Mortgage loans $ 67,115 $ 47,569 The distribution of commercial mortgage loans, including those under development, by property type and geographic region, is as follows: December 31, 2024 2023 (In millions, except percentages) Fair Value Percentage of Total Fair Value Percentage of Total Property type Apartment $ 11,746 36.2 % $ 9,591 36.0 % Industrial 6,793 21.0 % 4,143 15.6 % Office building 4,162 12.8 % 4,455 16.7 % Hotels 2,786 8.6 % 2,913 11.0 % Retail 2,269 7.0 % 2,158 8.1 % Other commercial 4,676 14.4 % 3,352 12.6 % Total commercial mortgage loans $ 32,432 100.0 % $ 26,612 100.0 % US region East North Central $ 1,546 4.8 % $ 1,517 5.7 % East South Central 438 1.3 % 523 2.0 % Middle Atlantic 8,386 25.9 % 7,147 26.9 % Mountain 1,322 4.1 % 1,196 4.5 % New England 1,118 3.4 % 1,295 4.9 % Pacific 5,768 17.8 % 4,860 18.3 % South Atlantic 6,198 19.1 % 4,583 17.2 % West North Central 221 0.7 % 249 0.9 % West South Central 1,971 6.1 % 1,228 4.6 % Total US region 26,968 83.2 % 22,598 85.0 % International region United Kingdom 2,281 7.0 % 2,343 8.7 % Other international 1 3,183 9.8 % 1,671 6.3 % Total international region 5,464 16.8 % 4,014 15.0 % Total commercial mortgage loans $ 32,432 100.0 % $ 26,612 100.0 % 1 Represents all other countries, with each individual country comprising less than 5% of the portfolio. Our residential mortgage loan portfolio primarily consists of first lien residential mortgage loans collateralized by properties in various geographic locations and is summarized by proportion of the portfolio in the following table: December 31, 2024 2023 US States California 25.6 % 27.6 % Florida 12.4 % 12.0 % Texas 7.4 % 6.1 % New York 4.7 % 5.9 % Other 1 40.8 % 39.4 % Total US residential mortgage loan percentage 90.9 % 91.0 % International United Kingdom 4.4 % 4.0 % Other 1 4.7 % 5.0 % Total international residential mortgage loan percentage 9.1 % 9.0 % Total residential mortgage loan percentage 100.0 % 100.0 % 1 Represents all other states or countries, with each individual state or country comprising less than 5% of the portfolio.
Summary of Investment Funds	The following summarizes our investment funds, including related parties and consolidated VIEs : December 31, 2024 2023 1 (In millions, except percentages) Carrying value Percentage of total Carrying value Percentage of total Investment funds Equity $ 107 0.5 % $ 109 0.6 % Investment funds – related parties Strategic origination platforms 29 0.2 % 32 0.2 % Retirement services platforms 1,317 6.7 % 1,300 7.3 % Equity 244 1.2 % 267 1.5 % Credit 253 1.3 % 20 0.1 % Other 10 0.1 % 13 0.1 % Total investment funds – related parties 1,853 9.5 % 1,632 9.2 % Investment funds – consolidated VIEs Strategic origination platforms 6,347 32.2 % 4,987 28.2 % Retirement services platforms — — % 483 2.7 % Equity 7,702 39.0 % 7,032 39.8 % Credit 3,062 15.5 % 2,852 16.2 % Other 654 3.3 % 573 3.3 % Total investment funds – consolidated VIEs 17,765 90.0 % 15,927 90.2 % Total investment funds, including related parties and consolidated VIEs $ 19,725 100.0 % $ 17,668 100.0 % 1 Prior year amounts have been reclassified to conform with the current year presentation as a result of aligning our investment fund categories to reflect our updated investment strategies.
Schedule of Variable Interest Entities	The following summarizes the carrying value and maximum loss exposure of these non-consolidated investments: December 31, 2024 2023 (In millions) Carrying Value Maximum Loss Exposure Carrying Value Maximum Loss Exposure Investment funds $ 107 $ 987 $ 109 $ 876 Investment in related parties – investment funds 1,853 3,226 1,632 2,377 Assets of consolidated VIEs – investment funds 17,765 23,597 15,927 22,240 Investment in fixed maturity securities 72,523 74,797 48,155 50,623 Investment in related parties – fixed maturity securities 17,239 21,793 13,495 15,608 Investment in related parties – equity securities 234 234 318 318 Total non-consolidated investments $ 109,721 $ 124,634 $ 79,636 $ 92,042 Concentrations —The following table represents our investment concentrations in excess of 10% of AHL stockholders’ equity: (In millions) December 31, 2024 AP Grange Holdings, LLC $ 4,661 Atlas Securitized Products Holdings LP (Atlas) 1 3,172 Fox Hedge L.P. 2,924 December 31, 2023 Wheels, Inc. (Wheels) 1 $ 1,591 AT&T Inc. 1,526 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 15 – Related Parties. The following summarizes the income statement activity of the consolidated VIEs: Years ended December 31, (In millions) 2024 2023 2022 Trading securities $ 152 $ 116 $ 34 Mortgage loans 128 110 88 Investment funds 46 41 9 Other (44) (10) (20) Net investment income $ 282 $ 257 $ 111 Net recognized investment gains (losses) on trading securities $ 17 $ 10 $ (66) Net recognized investment losses on mortgage loans (35) (22) (250) Net recognized investment gains on investment funds 1,552 1,232 552 Other gains (losses) (6) (29) 83 Investment related gains (losses) $ 1,528 $ 1,191 $ 319
Debt Securities, Available-for-Sale	December 31, 2024 (In millions) Amortized Cost Allowance for Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value AFS securities US government and agencies $ 8,413 $ — $ 8 $ (1,270) $ 7,151 US state, municipal and political subdivisions 1,167 — — (246) 921 Foreign governments 2,082 — — (514) 1,568 Corporate 95,006 (175) 485 (11,731) 83,585 CLO 29,524 — 266 (608) 29,182 ABS 24,779 (76) 138 (640) 24,201 CMBS 11,158 (60) 75 (432) 10,741 RMBS 8,587 (397) 228 (403) 8,015 Total AFS securities 180,716 (708) 1,200 (15,844) 165,364 AFS securities – related parties Corporate 2,502 — 18 (59) 2,461 CLO 6,130 — 18 (113) 6,035 ABS 10,899 (1) 21 (288) 10,631 Total AFS securities – related parties 19,531 (1) 57 (460) 19,127 Total AFS securities, including related parties $ 200,247 $ (709) $ 1,257 $ (16,304) $ 184,491 December 31, 2023 (In millions) Amortized Cost Allowance for Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value AFS securities US government and agencies $ 6,161 $ — $ 67 $ (829) $ 5,399 US state, municipal and political subdivisions 1,296 — — (250) 1,046 Foreign governments 2,083 — 71 (255) 1,899 Corporate 88,343 (129) 830 (10,798) 78,246 CLO 20,506 (2) 261 (558) 20,207 ABS 13,942 (49) 120 (630) 13,383 CMBS 7,070 (29) 52 (502) 6,591 RMBS 8,160 (381) 252 (464) 7,567 Total AFS securities 147,561 (590) 1,653 (14,286) 134,338 AFS securities – related parties Corporate 1,423 — 1 (72) 1,352 CLO 4,367 — 21 (120) 4,268 ABS 8,665 (1) 34 (309) 8,389 Total AFS securities – related parties 14,455 (1) 56 (501) 14,009 Total AFS securities, including related parties $ 162,016 $ (591) $ 1,709 $ (14,787) $ 148,347 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: December 31, 2024 Less than 12 months 12 months or more Total (In millions) Fair Value Gross Fair Value Gross Fair Value Gross AFS securities US government and agencies $ 3,010 $ (114) $ 3,462 $ (1,156) $ 6,472 $ (1,270) US state, municipal and political subdivisions 67 (3) 842 (243) 909 (246) Foreign governments 830 (205) 738 (309) 1,568 (514) Corporate 19,530 (673) 44,051 (10,997) 63,581 (11,670) CLO 2,675 (48) 2,325 (215) 5,000 (263) ABS 9,361 (155) 4,070 (309) 13,431 (464) CMBS 1,868 (56) 1,773 (315) 3,641 (371) RMBS 825 (13) 1,261 (157) 2,086 (170) Total AFS securities 38,166 (1,267) 58,522 (13,701) 96,688 (14,968) AFS securities – related parties Corporate 499 (9) 446 (47) 945 (56) CLO 586 (10) 544 (56) 1,130 (66) ABS 2,533 (43) 3,355 (235) 5,888 (278) Total AFS securities – related parties 3,618 (62) 4,345 (338) 7,963 (400) Total AFS securities, including related parties $ 41,784 $ (1,329) $ 62,867 $ (14,039) $ 104,651 $ (15,368) December 31, 2023 Less than 12 months 12 months or more Total (In millions) Fair Value Gross Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses AFS securities US government and agencies $ 2,013 $ (94) $ 2,389 $ (735) $ 4,402 $ (829) US state, municipal and political subdivisions 123 (5) 888 (245) 1,011 (250) Foreign governments 690 (13) 760 (242) 1,450 (255) Corporate 7,752 (474) 50,028 (10,311) 57,780 (10,785) CLO 689 (2) 11,579 (543) 12,268 (545) ABS 2,129 (75) 4,378 (458) 6,507 (533) CMBS 859 (12) 1,967 (406) 2,826 (418) RMBS 467 (9) 2,057 (263) 2,524 (272) Total AFS securities 14,722 (684) 74,046 (13,203) 88,768 (13,887) AFS securities – related parties Corporate 548 (35) 382 (37) 930 (72) CLO 397 (16) 2,592 (102) 2,989 (118) ABS 2,008 (66) 2,793 (225) 4,801 (291) Total AFS securities – related parties 2,953 (117) 5,767 (364) 8,720 (481) Total AFS securities, including related parties $ 17,675 $ (801) $ 79,813 $ (13,567) $ 97,488 $ (14,368)

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Dec. 31, 2024
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: December 31, 2024 2023 Notional Amount Fair Value Notional Amount Fair Value (In millions) Assets Liabilities Assets Liabilities Derivatives designated as hedges Foreign currency hedges Swaps 15,669 $ 938 $ 211 9,034 $ 477 $ 230 Forwards 3,139 331 5 6,294 275 102 Interest rate swaps 4,506 — 654 4,468 — 521 Forwards on net investments 218 11 — 219 — 6 Interest rate swaps 24,885 55 138 10,031 29 95 Total derivatives designated as hedges 1,335 1,008 781 954 Derivatives not designated as hedges Equity options 85,452 5,002 126 73,881 3,809 102 Futures 37 93 11 35 72 — Foreign currency swaps 14,908 600 199 8,072 230 244 Interest rate swaps and forwards 3,255 67 124 3,499 81 9 Other swaps 2,644 3 5 2,588 39 1 Foreign currency forwards 39,598 1,054 2,083 28,236 286 685 Embedded derivatives Funds withheld including related parties (3,650) 4 (4,100) (64) Interest sensitive contract liabilities — 11,242 — 9,059 Total derivatives not designated as hedges 3,169 13,794 417 10,036 Total derivatives $ 4,504 $ 14,802 $ 1,198 $ 10,990
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The following represents the carrying amount and the cumulative fair value hedging adjustments included in the hedged assets or liabilities: December 31, 2024 2023 (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 $ 3,790 $ (258) $ 4,883 $ (15) Foreign currency swaps 12,517 (842) 6,820 (141) Interest sensitive contract liabilities Foreign currency swaps 2,426 130 1,438 19 Foreign currency interest rate swaps 3,946 488 4,010 363 Interest rate swaps 17,873 130 6,910 189 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: Amounts excluded (In millions) Derivatives Hedged items Net Recognized in income through amortization approach Recognized in income through changes in fair value Year ended December 31, 2024 Investment related gains (losses) Foreign currency forwards $ 220 $ (238) $ (18) $ 43 $ 19 Foreign currency swaps 513 (520) (7) — — Foreign currency interest rate swaps (160) 148 (12) — — Interest rate swaps 6 (58) (52) — — Interest sensitive contract benefits Foreign currency interest rate swaps 87 (85) 2 — — Year ended December 31, 2023 Investment related gains (losses) Foreign currency forwards (169) 167 (2) 82 20 Foreign currency swaps (159) 169 10 — — Foreign currency interest rate swaps 282 (269) 13 — — Interest rate swaps 111 (118) (7) — — Interest sensitive contract benefits Foreign currency interest rate swaps 57 (60) (3) — — Year ended December 31, 2022 Investment related gains (losses) Foreign currency forwards 183 (190) (7) 67 9 Foreign currency swaps 286 (310) (24) — — Foreign currency interest rate swaps (622) 632 10 — — Interest rate swaps (332) 323 (9) — — Interest sensitive contract benefits Foreign currency interest rate swaps 52 (53) (1) — — The following is a summary of the gains (losses) excluded from the assessment of hedge effectiveness that were recognized in OCI : Years ended December 31, (In millions) 2024 2023 2022 Foreign currency forwards $ (23) $ (45) $ 20 Foreign currency swaps (29) (187) 88
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: Years ended December 31, (In millions) 2024 2023 2022 Equity options $ 1,921 $ 1,564 $ (2,647) Futures 72 73 (144) Interest rate swaps and forwards and other swaps 344 (108) 56 Foreign currency forwards (775) (495) 505 Embedded derivatives on funds withheld 2 934 (6,534) Amounts recognized in investment related gains (losses) 1,564 1,968 (8,764) Embedded derivatives in indexed annuity products 1 (174) (1,443) 2,768 Total gains (losses) on derivatives not designated as hedges $ 1,390 $ 525 $ (5,996) 1 Included in interest sensitive contract benefits on the 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 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 December 31, 2024 Derivative assets $ 8,154 $ (2,209) $ (5,922) $ 23 $ — $ 23 Derivative liabilities (3,556) 2,209 1,333 (14) 2 (12) December 31, 2023 Derivative assets $ 5,298 $ (1,497) $ (3,676) $ 125 $ — $ 125 Derivative liabilities (1,995) 1,497 848 350 — 350 1 The gross amounts of recognized derivative assets and derivative liabilities are reported on the consolidated balance sheets. As of December 31, 2024 and 2023, 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 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 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 December 31, 2024 Derivative assets $ 8,154 $ (2,209) $ (5,922) $ 23 $ — $ 23 Derivative liabilities (3,556) 2,209 1,333 (14) 2 (12) December 31, 2023 Derivative assets $ 5,298 $ (1,497) $ (3,676) $ 125 $ — $ 125 Derivative liabilities (1,995) 1,497 848 350 — 350 1 The gross amounts of recognized derivative assets and derivative liabilities are reported on the consolidated balance sheets. As of December 31, 2024 and 2023, 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 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.

Organization, Consolidation and

Organization, Consolidation and Presentation of Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2024
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: December 31, 2024 2023 (In millions) Carrying Value Maximum Loss Exposure Carrying Value Maximum Loss Exposure Investment funds $ 107 $ 987 $ 109 $ 876 Investment in related parties – investment funds 1,853 3,226 1,632 2,377 Assets of consolidated VIEs – investment funds 17,765 23,597 15,927 22,240 Investment in fixed maturity securities 72,523 74,797 48,155 50,623 Investment in related parties – fixed maturity securities 17,239 21,793 13,495 15,608 Investment in related parties – equity securities 234 234 318 318 Total non-consolidated investments $ 109,721 $ 124,634 $ 79,636 $ 92,042 Concentrations —The following table represents our investment concentrations in excess of 10% of AHL stockholders’ equity: (In millions) December 31, 2024 AP Grange Holdings, LLC $ 4,661 Atlas Securitized Products Holdings LP (Atlas) 1 3,172 Fox Hedge L.P. 2,924 December 31, 2023 Wheels, Inc. (Wheels) 1 $ 1,591 AT&T Inc. 1,526 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 15 – Related Parties. The following summarizes the income statement activity of the consolidated VIEs: Years ended December 31, (In millions) 2024 2023 2022 Trading securities $ 152 $ 116 $ 34 Mortgage loans 128 110 88 Investment funds 46 41 9 Other (44) (10) (20) Net investment income $ 282 $ 257 $ 111 Net recognized investment gains (losses) on trading securities $ 17 $ 10 $ (66) Net recognized investment losses on mortgage loans (35) (22) (250) Net recognized investment gains on investment funds 1,552 1,232 552 Other gains (losses) (6) (29) 83 Investment related gains (losses) $ 1,528 $ 1,191 $ 319

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2024
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: December 31, 2024 (In millions) Total NAV Level 1 Level 2 Level 3 Assets AFS securities US government and agencies $ 7,151 $ — $ 7,149 $ 2 $ — US state, municipal and political subdivisions 921 — — 921 — Foreign governments 1,568 — 658 881 29 Corporate 83,585 — 11 79,253 4,321 CLO 29,182 — — 29,182 — ABS 24,201 — — 7,672 16,529 CMBS 10,741 — — 10,741 — RMBS 8,015 — — 7,759 256 Total AFS securities 165,364 — 7,818 136,411 21,135 Trading securities 1,583 — 22 1,539 22 Equity securities 1,290 — 190 1,073 27 Mortgage loans 63,239 — — — 63,239 Funds withheld at interest – embedded derivative (3,035) — — — (3,035) Derivative assets 8,154 — 121 8,032 1 Short-term investments 255 — — 86 169 Other investments 1,606 — — 711 895 Cash and cash equivalents 12,733 — 12,733 — — Restricted cash 943 — 943 — — Investments in related parties AFS securities Corporate 2,461 — — 1,029 1,432 CLO 6,035 — — 5,339 696 ABS 10,631 — — 890 9,741 Total AFS securities – related parties 19,127 — — 7,258 11,869 Trading securities 573 — — — 573 Equity securities 234 — — — 234 Mortgage loans 1,297 — — — 1,297 Investment funds 1,139 — — — 1,139 Funds withheld at interest – embedded derivative (615) — — — (615) Other investments 331 — — — 331 Reinsurance recoverable 1,661 — — — 1,661 Other assets 313 — — — 313 Assets of consolidated VIEs Trading securities 2,301 — — 347 1,954 Mortgage loans 2,579 — — — 2,579 Investment funds 17,765 16,995 — — 770 Other investments 107 — 4 — 103 Cash and cash equivalents 583 — 583 — — Total assets measured at fair value $ 299,527 $ 16,995 $ 22,414 $ 155,457 $ 104,661 Liabilities Interest sensitive contract liabilities Embedded derivative $ 11,242 $ — $ — $ — $ 11,242 Universal life benefits 742 — — — 742 Future policy benefits AmerUs Closed Block 1,102 — — — 1,102 ILICO Closed Block and life benefits 538 — — — 538 Market risk benefits 4,028 — — — 4,028 Derivative liabilities 3,556 — 19 3,536 1 Other liabilities 225 — — — 225 Total liabilities measured at fair value $ 21,433 $ — $ 19 $ 3,536 $ 17,878 December 31, 2023 (In millions) Total NAV Level 1 Level 2 Level 3 Assets AFS securities US government and agencies $ 5,399 $ — $ 5,392 $ 7 $ — US state, municipal and political subdivisions 1,046 — — 1,046 — Foreign governments 1,899 — 895 964 40 Corporate 78,246 — 10 75,711 2,525 CLO 20,207 — — 20,207 — ABS 13,383 — — 6,440 6,943 CMBS 6,591 — — 6,570 21 RMBS 7,567 — — 7,302 265 Total AFS securities 134,338 — 6,297 118,247 9,794 Trading securities 1,706 — 24 1,654 28 Equity securities 935 — 210 699 26 Mortgage loans 44,115 — — — 44,115 Funds withheld at interest – embedded derivative (3,379) — — — (3,379) Derivative assets 5,298 — 108 5,190 — Short-term investments 341 — — 236 105 Other investments 943 — — 313 630 Cash and cash equivalents 13,020 — 13,020 — — Restricted cash 1,761 — 1,761 — — Investments in related parties AFS securities Corporate 1,352 — — 181 1,171 CLO 4,268 — — 3,762 506 ABS 8,389 — — 563 7,826 Total AFS securities – related parties 14,009 — — 4,506 9,503 Trading securities 838 — — — 838 Equity securities 318 — 63 — 255 Mortgage loans 1,281 — — — 1,281 Investment funds 1,082 — — — 1,082 Funds withheld at interest – embedded derivative (721) — — — (721) Other investments 343 — — — 343 Reinsurance recoverable 1,367 — — — 1,367 Other assets 378 — — — 378 Assets of consolidated VIEs Trading securities 2,136 — — 284 1,852 Mortgage loans 2,173 — — — 2,173 Investment funds 15,927 14,950 — — 977 Other investments 103 — — 2 101 Cash and cash equivalents 98 — 98 — — Total assets measured at fair value $ 238,410 $ 14,950 $ 21,581 $ 131,131 $ 70,748 Liabilities Interest sensitive contract liabilities Embedded derivative $ 9,059 $ — $ — $ — $ 9,059 Universal life benefits 834 — — — 834 Future policy benefits AmerUs Closed Block 1,178 — — — 1,178 ILICO Closed Block and life benefits 522 — — — 522 Market risk benefits 3,751 — — — 3,751 Derivative liabilities 1,995 — 17 1,977 1 Other liabilities 266 — — (64) 330 Total liabilities measured at fair value $ 17,605 $ — $ 17 $ 1,913 $ 15,675
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: Years ended December 31, (In millions) 2024 2023 2022 Trading securities $ (156) $ 66 $ (424) Mortgage loans (237) 183 (3,213) Investment funds (49) 81 114 Future policy benefits 76 (14) 356 Other 28 (113) (37) Total gains (losses) $ (338) $ 203 $ (3,204) The following summarizes information for fair value option mortgage loans, including related parties and consolidated VIEs: December 31, (In millions) 2024 2023 Unpaid principal balance $ 69,754 $ 50,752 Mark to fair value (2,639) (3,183) Fair value $ 67,115 $ 47,569 The following represents our commercial mortgage loan portfolio 90 days or more past due and/or in non-accrual status: December 31, (In millions) 2024 2023 Unpaid principal balance of commercial mortgage loans 90 days or more past due and/or in non-accrual status $ 195 $ 221 Mark to fair value of commercial mortgage loans 90 days or more past due and/or in non-accrual status (102) (74) Fair value of commercial mortgage loans 90 days or more past due and/or in non-accrual status $ 93 $ 147 Fair value of commercial mortgage loans 90 days or more past due $ 31 $ 64 Fair value of commercial mortgage loans in non-accrual status 93 147 The following represents our residential mortgage loan portfolio 90 days or more past due and/or in non-accrual status: December 31, (In millions) 2024 2023 Unpaid principal balance of residential mortgage loans 90 days or more past due and/or in non-accrual status $ 898 $ 528 Mark to fair value of residential mortgage loans 90 days or more past due and/or in non-accrual status (51) (49) Fair value of residential mortgage loans 90 days or more past due and/or in non-accrual status $ 847 $ 479 Fair value of residential mortgage loans 90 days or more past due 1 $ 847 $ 479 Fair value of residential mortgage loans in non-accrual status 765 355 1 As of December 31, 2024 and 2023, includes $82 million and $124 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: Years ended December 31, (In millions) 2024 2023 2022 Mortgage loans $ (58) $ (53) $ (41)
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. Year ended December 31, 2024 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 $ 40 $ — $ 1 $ (12) $ — $ 29 $ — $ 1 Corporate 2,525 (20) 36 2,815 (1,035) 4,321 (18) 38 ABS 6,943 47 (128) 9,812 (145) 16,529 (3) (130) CMBS 21 3 (5) — (19) — — — RMBS 265 8 — 83 (100) 256 — (1) Trading securities 28 1 — (21) 14 22 (1) — Equity securities 26 — — 1 — 27 — — Mortgage loans 44,115 (192) — 19,316 — 63,239 (145) — Funds withheld at interest – embedded derivative (3,379) 344 — — — (3,035) — — Derivative assets — — — — 1 1 — — Short-term investments 105 (1) (1) 145 (79) 169 — (1) Other investments 630 (24) — 289 — 895 (6) — Investments in related parties AFS securities Corporate 1,171 (2) 24 38 201 1,432 — 21 CLO 506 — 13 177 — 696 — 14 ABS 7,826 48 (12) 1,879 — 9,741 — (14) Trading securities 838 (1) — (264) — 573 (3) — Equity securities 255 (16) — (5) — 234 (15) — Mortgage loans 1,281 17 — (1) — 1,297 17 — Investment funds 1,082 (49) — 106 — 1,139 (49) — Funds withheld at interest – embedded derivative (721) 106 — — — (615) — — Other investments 343 (12) — — — 331 (12) — Reinsurance recoverable 1,367 (61) — 355 — 1,661 — — Assets of consolidated VIEs Trading securities 1,852 (80) — 209 (27) 1,954 (87) — Mortgage loans 2,173 (62) — 468 — 2,579 (64) — Investment funds 977 (68) — 331 (470) 770 (16) — Other investments 101 (10) — 32 (20) 103 (9) — Total Level 3 assets $ 70,370 $ (24) $ (72) $ 35,753 $ (1,679) $ 104,348 $ (411) $ (72) Liabilities Interest sensitive contract liabilities Embedded derivative $ (9,059) $ (174) $ — $ (2,009) $ — $ (11,242) $ — $ — Universal life benefits (834) 92 — — — (742) — — Future policy benefits AmerUs Closed Block (1,178) 76 — — — (1,102) — — ILICO Closed Block and life benefits (522) (16) — — — (538) — — Derivative liabilities (1) — — — — (1) — — Other liabilities (330) (13) — 54 64 (225) — — Total Level 3 liabilities $ (11,924) $ (35) $ — $ (1,955) $ 64 $ (13,850) $ — $ — 1 Related to instruments held at end of year. Year ended December 31, 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) $ 41 $ — $ 40 $ — $ (2) Corporate 1,665 (21) 45 1,298 (462) 2,525 — 21 ABS 4,867 (9) 61 3,241 (1,217) 6,943 — 45 CMBS — — 1 — 20 21 — 3 RMBS 232 8 4 256 (235) 265 — 2 Trading securities 53 2 — (16) (11) 28 — — Equity securities 92 (8) — (45) (13) 26 — — Mortgage loans 27,454 183 — 16,478 — 44,115 184 — Funds withheld at interest – embedded derivative (4,847) 1,468 — — — (3,379) — — Short-term investments 36 — (3) 69 3 105 — — Other investments 441 — — 189 — 630 (3) — Investments in related parties AFS securities Corporate 812 3 (32) 173 215 1,171 — (32) CLO 303 — 18 185 — 506 — 18 ABS 5,542 19 103 1,878 284 7,826 6 96 Trading securities 878 12 — (52) — 838 8 — Equity securities 279 8 — (32) — 255 7 — Mortgage loans 1,302 9 — (30) — 1,281 8 — Investment funds 959 91 — 32 — 1,082 91 — Funds withheld at interest – embedded derivative (1,425) 704 — — — (721) — — Other investments 303 (2) — 42 — 343 (3) — Reinsurance recoverable 1,388 (21) — — — 1,367 — — Assets of consolidated VIEs Trading securities 622 47 — (148) 1,331 1,852 47 — Mortgage loans 2,055 (9) — 127 — 2,173 (9) — Investment funds 2,471 (30) — 73 (1,537) 977 (31) — Other investments 99 9 — (7) — 101 9 — Total Level 3 assets $ 45,582 $ 2,463 $ 195 $ 23,752 $ (1,622) $ 70,370 $ 314 $ 151 Liabilities Interest sensitive contract liabilities Embedded derivative $ (5,841) $ (1,443) $ — $ (1,775) $ — $ (9,059) $ — $ — Universal life benefits (829) (5) — — — (834) — — Future policy benefits AmerUs Closed Block (1,164) (14) — — — (1,178) — — ILICO Closed Block and life benefits (548) 26 — — — (522) — — Derivative liabilities (1) — — — — (1) — — Other liabilities (142) (113) — (75) — (330) — — Total Level 3 liabilities $ (8,525) $ (1,549) $ — $ (1,850) $ — $ (11,924) $ — $ — 1 Related to instruments held at end of year. The following represents the gross components of purchases, issuances, sales and settlements, net, and net transfers in (out) shown above:
Reconciliation of Level 3 Liabilities 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. Year ended December 31, 2024 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 $ 40 $ — $ 1 $ (12) $ — $ 29 $ — $ 1 Corporate 2,525 (20) 36 2,815 (1,035) 4,321 (18) 38 ABS 6,943 47 (128) 9,812 (145) 16,529 (3) (130) CMBS 21 3 (5) — (19) — — — RMBS 265 8 — 83 (100) 256 — (1) Trading securities 28 1 — (21) 14 22 (1) — Equity securities 26 — — 1 — 27 — — Mortgage loans 44,115 (192) — 19,316 — 63,239 (145) — Funds withheld at interest – embedded derivative (3,379) 344 — — — (3,035) — — Derivative assets — — — — 1 1 — — Short-term investments 105 (1) (1) 145 (79) 169 — (1) Other investments 630 (24) — 289 — 895 (6) — Investments in related parties AFS securities Corporate 1,171 (2) 24 38 201 1,432 — 21 CLO 506 — 13 177 — 696 — 14 ABS 7,826 48 (12) 1,879 — 9,741 — (14) Trading securities 838 (1) — (264) — 573 (3) — Equity securities 255 (16) — (5) — 234 (15) — Mortgage loans 1,281 17 — (1) — 1,297 17 — Investment funds 1,082 (49) — 106 — 1,139 (49) — Funds withheld at interest – embedded derivative (721) 106 — — — (615) — — Other investments 343 (12) — — — 331 (12) — Reinsurance recoverable 1,367 (61) — 355 — 1,661 — — Assets of consolidated VIEs Trading securities 1,852 (80) — 209 (27) 1,954 (87) — Mortgage loans 2,173 (62) — 468 — 2,579 (64) — Investment funds 977 (68) — 331 (470) 770 (16) — Other investments 101 (10) — 32 (20) 103 (9) — Total Level 3 assets $ 70,370 $ (24) $ (72) $ 35,753 $ (1,679) $ 104,348 $ (411) $ (72) Liabilities Interest sensitive contract liabilities Embedded derivative $ (9,059) $ (174) $ — $ (2,009) $ — $ (11,242) $ — $ — Universal life benefits (834) 92 — — — (742) — — Future policy benefits AmerUs Closed Block (1,178) 76 — — — (1,102) — — ILICO Closed Block and life benefits (522) (16) — — — (538) — — Derivative liabilities (1) — — — — (1) — — Other liabilities (330) (13) — 54 64 (225) — — Total Level 3 liabilities $ (11,924) $ (35) $ — $ (1,955) $ 64 $ (13,850) $ — $ — 1 Related to instruments held at end of year. Year ended December 31, 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) $ 41 $ — $ 40 $ — $ (2) Corporate 1,665 (21) 45 1,298 (462) 2,525 — 21 ABS 4,867 (9) 61 3,241 (1,217) 6,943 — 45 CMBS — — 1 — 20 21 — 3 RMBS 232 8 4 256 (235) 265 — 2 Trading securities 53 2 — (16) (11) 28 — — Equity securities 92 (8) — (45) (13) 26 — — Mortgage loans 27,454 183 — 16,478 — 44,115 184 — Funds withheld at interest – embedded derivative (4,847) 1,468 — — — (3,379) — — Short-term investments 36 — (3) 69 3 105 — — Other investments 441 — — 189 — 630 (3) — Investments in related parties AFS securities Corporate 812 3 (32) 173 215 1,171 — (32) CLO 303 — 18 185 — 506 — 18 ABS 5,542 19 103 1,878 284 7,826 6 96 Trading securities 878 12 — (52) — 838 8 — Equity securities 279 8 — (32) — 255 7 — Mortgage loans 1,302 9 — (30) — 1,281 8 — Investment funds 959 91 — 32 — 1,082 91 — Funds withheld at interest – embedded derivative (1,425) 704 — — — (721) — — Other investments 303 (2) — 42 — 343 (3) — Reinsurance recoverable 1,388 (21) — — — 1,367 — — Assets of consolidated VIEs Trading securities 622 47 — (148) 1,331 1,852 47 — Mortgage loans 2,055 (9) — 127 — 2,173 (9) — Investment funds 2,471 (30) — 73 (1,537) 977 (31) — Other investments 99 9 — (7) — 101 9 — Total Level 3 assets $ 45,582 $ 2,463 $ 195 $ 23,752 $ (1,622) $ 70,370 $ 314 $ 151 Liabilities Interest sensitive contract liabilities Embedded derivative $ (5,841) $ (1,443) $ — $ (1,775) $ — $ (9,059) $ — $ — Universal life benefits (829) (5) — — — (834) — — Future policy benefits AmerUs Closed Block (1,164) (14) — — — (1,178) — — ILICO Closed Block and life benefits (548) 26 — — — (522) — — Derivative liabilities (1) — — — — (1) — — Other liabilities (142) (113) — (75) — (330) — — Total Level 3 liabilities $ (8,525) $ (1,549) $ — $ (1,850) $ — $ (11,924) $ — $ — 1 Related to instruments held at end of year. The following represents the gross components of purchases, issuances, sales and settlements, net, and net transfers in (out) shown above:
Gross Components of Purchases, Sales, Issuances and Settlements, net	Year ended December 31, 2024 (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 $ — $ — $ — $ (12) $ (12) $ — $ — $ — Corporate 3,146 — (41) (290) 2,815 166 (1,201) (1,035) ABS 11,886 — (423) (1,651) 9,812 769 (914) (145) CMBS — — — — — — (19) (19) RMBS 99 — — (16) 83 — (100) (100) Trading securities — — — (21) (21) 14 — 14 Equity securities 2 — (1) — 1 9 (9) — Mortgage loans 27,596 — (106) (8,174) 19,316 — — — Derivative assets — — — — — 1 — 1 Short-term investments 172 — (6) (21) 145 — (79) (79) Other investments 289 — — — 289 — — — Investments in related parties AFS securities Corporate 113 — (66) (9) 38 201 — 201 CLO 177 — — — 177 — — — ABS 7,197 — (504) (4,814) 1,879 — — — Trading securities 4 — — (268) (264) — — — Equity securities — — (5) — (5) — — — Mortgage loans 87 — — (88) (1) — — — Investment funds 106 — — — 106 — — — Reinsurance recoverable — 359 — (4) 355 — — — Assets of consolidated VIEs Trading securities 394 — (178) (7) 209 61 (88) (27) Mortgage loans 579 — — (111) 468 — — — Investment funds 341 — (10) — 331 — (470) (470) Other investments 56 — (24) — 32 — (20) (20) Total Level 3 assets $ 52,244 $ 359 $ (1,364) $ (15,486) $ 35,753 $ 1,221 $ (2,900) $ (1,679) Liabilities Interest sensitive contract liabilities – embedded derivative $ — $ (3,010) $ — $ 1,001 $ (2,009) $ — $ — $ — Other liabilities — — — 54 54 64 — 64 Total Level 3 liabilities $ — $ (3,010) $ — $ 1,055 $ (1,955) $ 64 $ — $ 64
Summary of Unobservable Inputs	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: December 31, 2024 (In millions, except 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 $ 28,774 Discounted cash flow Discount rate 4.7 % 20.0 % 7.1 % 1 Decrease Mortgage loans 67,115 Discounted cash flow Discount rate 1.8 % 43.1 % 6.7 % 1 Decrease Investment funds 1,909 Discounted cash flow Discount rate 6.6 % 14.0 % 10.8 % 1 Decrease Interest sensitive contract liabilities – fixed indexed annuities embedded derivatives 11,242 Discounted cash flow Nonperformance risk 0.4 % 1.1 % 0.7 % 2 Decrease Option budget 0.5 % 6.0 % 2.8 % 3 Increase Surrender rate 6.0 % 14.2 % 9.0 % 3 Decrease December 31, 2023 (In millions, except 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 $ 14,247 Discounted cash flow Discount rate 2.3 % 18.1 % 7.0 % 1 Decrease Mortgage loans 47,569 Discounted cash flow Discount rate 2.5 % 20.6 % 6.8 % 1 Decrease Investment funds 1,574 Discounted cash flow Discount rate 6.3 % 13.5 % 11.2 % 1 Decrease 483 Net tangible asset values Implied multiple 1.14x 1.14x 1.14x Increase Interest sensitive contract liabilities – fixed indexed annuities embedded derivatives 9,059 Discounted cash flow Nonperformance risk 0.4 % 1.4 % 0.9 % 2 Decrease Option budget 0.5 % 6.0 % 2.3 % 3 Increase Surrender rate 6.0 % 13.4 % 8.7 % 3 Decrease 1 The discount rate weighted average is calculated based on the relative fair values of the investments. 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: December 31, 2024 (In millions, except 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 $ 3,715 Discounted cash flow Nonperformance risk 0.4 % 1.1 % 1.0 % 1 Decrease Option budget 0.5 % 6.0 % 2.3 % 2 Decrease Surrender rate 3.3 % 7.2 % 4.6 % 2 Decrease Utilization rate 28.6 % 95.0 % 84.9 % 3 Increase December 31, 2023 (In millions, except 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 $ 3,373 Discounted cash flow Nonperformance risk 0.4 % 1.4 % 1.2 % 1 Decrease Option budget 0.5 % 6.0 % 1.9 % 2 Decrease Surrender rate 3.2 % 6.4 % 4.5 % 2 Decrease Utilization rate 28.6 % 95.0 % 83.6 % 3 Increase December 31, 2022 (In millions, except 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 $ 2,489 Discounted cash flow Nonperformance risk 0.2 % 1.6 % 1.4 % 1 Decrease Option budget 0.5 % 5.3 % 1.7 % 2 Decrease Surrender rate 3.3 % 6.7 % 4.4 % 2 Decrease Utilization rate 28.6 % 95.0 % 82.3 % 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 consolidated balance sheets: December 31, 2024 (In millions) Carrying Value Fair Value NAV Level 1 Level 2 Level 3 Financial assets Investment funds $ 107 $ 107 $ 107 $ — $ — $ — Policy loans 318 318 — — 318 — Funds withheld at interest 21,901 21,901 — — — 21,901 Short-term investments 192 192 — — — 192 Other investments 93 101 — — — 101 Investments in related parties Investment funds 714 714 714 — — — Funds withheld at interest 5,665 5,665 — — — 5,665 Short-term investments 743 743 — — 743 — Total financial assets not carried at fair value $ 29,733 $ 29,741 $ 821 $ — $ 1,061 $ 27,859 Financial liabilities Interest sensitive contract liabilities $ 200,278 $ 192,025 $ — $ — $ — $ 192,025 Debt 6,309 5,844 — 581 5,263 — Securities to repurchase 5,716 5,716 — — 5,716 — Funds withheld liability 4,331 4,331 — — — 4,331 Total financial liabilities not carried at fair value $ 216,634 $ 207,916 $ — $ 581 $ 10,979 $ 196,356 December 31, 2023 (In millions) Carrying Value Fair Value NAV Level 1 Level 2 Level 3 Financial assets Investment funds $ 109 $ 109 $ 109 $ — $ — $ — Policy loans 334 334 — — 334 — Funds withheld at interest 27,738 27,738 — — — 27,738 Other investments 46 52 — — — 52 Investments in related parties Investment funds 550 550 550 — — — Funds withheld at interest 7,195 7,195 — — — 7,195 Short-term investments 947 947 — — 947 — Total financial assets not carried at fair value $ 36,919 $ 36,925 $ 659 $ — $ 1,281 $ 34,985 Financial liabilities Interest sensitive contract liabilities $ 154,095 $ 146,038 $ — $ — $ — $ 146,038 Debt 4,209 3,660 — — 3,660 — Securities to repurchase 3,853 3,853 — — 3,853 — Funds withheld liability 350 350 — — 350 — Total financial liabilities not carried at fair value $ 162,507 $ 153,901 $ — $ — $ 7,863 $ 146,038
Equity Securities without Readily Determinable Fair Value	We elected the measurement alternative for certain equity securities that did not have a readily determinable fair value. The equity securities were held at cost less any impairment. During the third quarter of 2024, the equity securities of FWD Group Holdings Limited were distributed as a divi

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
Effects of Reinsurance	The following summarizes the effect of reinsurance on premiums and future policy and other policy benefits on the consolidated statements of income (loss): Years ended December 31, (In millions) 2024 2023 2022 Premiums Direct $ 1,089 $ 10,525 $ 11,373 Reinsurance assumed 313 2,313 377 Reinsurance ceded (84) (89) (112) Total premiums $ 1,318 $ 12,749 $ 11,638 Future policy and other policy benefits Direct $ 2,779 $ 12,321 $ 12,142 Reinsurance assumed 550 2,389 416 Reinsurance ceded (275) (276) (93) Total future policy and other policy benefits $ 3,054 $ 14,434 $ 12,465 (In millions) Year ended December 31, 2023 Liabilities assumed $ 1,975 Less: Assets received 2,158 Deferred profit liability 1 $ (183) 1 Included within future policy benefits on the consolidated balance sheets.
Ceded Credit Risk	The following summarizes our reinsurance recoverable: December 31, (In millions) 2024 2023 Catalina $ 4,309 $ — Global Atlantic 2,328 2,435 Protective 1,435 1,559 Other 1 122 160 Reinsurance recoverable $ 8,194 $ 4,154 1 Represents all other reinsurers, with no single reinsurer having a carrying value in excess of 5% of the total recoverable.

Deferred Acquisition Costs, D_2

Deferred Acquisition Costs, Deferred Sales Inducements, and Value of Business Acquired (Tables)	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
Deferred Acquisition Costs	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. 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 320 784 14 9 411 — 1,538 Amortization (16) (29) (3) — (12) (384) (444) Balance at December 31, 2022 304 755 11 9 399 2,988 4,466 Additions 701 863 3 3 634 — 2,204 Amortization (115) (101) (4) (1) (63) (404) (688) Other — — — — — (3) (3) Balance at December 31, 2023 890 1,517 10 11 970 2,581 5,979 Additions 519 945 42 1 630 — 2,137 Amortization (249) (184) (12) (1) (124) (371) (941) Other (2) — — — — — (2) Balance at December 31, 2024 $ 1,158 $ 2,278 $ 40 $ 11 $ 1,476 $ 2,210 $ 7,173

Long-duration Contracts (Tables

Long-duration Contracts (Tables)	12 Months Ended
	Dec. 31, 2024
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. Year ended December 31, 2024 (In millions, except percentages) Traditional deferred annuities Indexed annuities Funding agreements Other investment-type Total Balance at December 31, 2023 $ 64,763 $ 93,147 $ 32,350 $ 7,629 $ 197,889 Deposits 25,459 16,230 29,249 1,088 72,026 Policy charges (2) (709) — — (711) Surrenders and withdrawals (5,389) (12,744) — (84) (18,217) Benefit payments (1,108) (1,580) (8,304) (212) (11,204) Interest credited 3,256 3,524 1,707 205 8,692 Foreign exchange (318) (7) (414) (498) (1,237) Other — — 180 (98) 82 Balance at December 31, 2024 $ 86,661 $ 97,861 $ 54,768 $ 8,030 $ 247,320 Weighted average crediting rate 4.3 % 2.7 % 4.4 % 2.7 % Net amount at risk $ 425 $ 15,441 $ — $ 51 Cash surrender value 81,243 89,511 — 6,784 Year ended December 31, 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 30,175 12,639 6,893 4,597 54,304 Policy charges (2) (651) — — (653) Surrenders and withdrawals (9,929) (11,253) (110) (40) (21,332) Benefit payments (984) (1,609) (3,273) (275) (6,141) Interest credited 1,858 1,279 883 155 4,175 Foreign exchange 52 1 260 (95) 218 Other 1 75 81 258 (1,435) (1,021) Balance at December 31, 2023 $ 64,763 $ 93,147 $ 32,350 $ 7,629 $ 197,889 Weighted average crediting rate 4.0 % 2.4 % 3.4 % 2.7 % Net amount at risk $ 425 $ 14,716 $ — $ 103 Cash surrender value 61,345 85,381 — 6,375 1 Other includes a $1,371 million reduction of reserves related to the Venerable Insurance and Annuity Company (VIAC) recapture agreement. See Note 15 – Related Parties for further information. Year ended December 31, 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 13,246 11,544 7,970 2,581 35,341 Policy charges (3) (600) — — (603) Surrenders and withdrawals (5,419) (8,057) (880) (17) (14,373) Benefit payments (937) (1,620) (2,819) (322) (5,698) Interest credited 1,032 1,638 677 95 3,442 Foreign exchange — — (440) (6) (446) Other — — (692) (22) (714) Balance at December 31, 2022 $ 43,518 $ 92,660 $ 27,439 $ 4,722 $ 168,339 Weighted average crediting rate 3.2 % 2.2 % 2.5 % 3.1 % Net amount at risk $ 422 $ 13,581 $ — $ 47 Cash surrender value 41,273 84,724 — 2,213 The following is a reconciliation of interest sensitive contract liabilities to the consolidated balance sheets: December 31, (In millions) 2024 2023 2022 Traditional deferred annuities $ 86,661 $ 64,763 $ 43,518 Indexed annuities 97,861 93,147 92,660 Funding agreements 54,768 32,350 27,439 Other investment-type 8,030 7,629 4,722 Reconciling items 1 6,317 6,781 5,277 Interest sensitive contract liabilities $ 253,637 $ 204,670 $ 173,616 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.
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: December 31, 2024 (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% $ 26,818 $ 14,141 $ 134,121 $ 175,080 2.0% – < 4.0% 24,356 1,529 2,067 27,952 4.0% – < 6.0% 37,626 58 1 37,685 6.0% and greater 6,603 — — 6,603 Total $ 95,403 $ 15,728 $ 136,189 $ 247,320 December 31, 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% $ 30,339 $ 18,954 $ 100,609 $ 149,902 2.0% – < 4.0% 27,792 2,074 1,389 31,255 4.0% – < 6.0% 11,532 17 1 11,550 6.0% and greater 5,182 — — 5,182 Total $ 74,845 $ 21,045 $ 101,999 $ 197,889 December 31, 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% $ 25,031 $ 26,020 $ 72,776 $ 123,827 2.0% – < 4.0% 33,325 1,408 284 35,017 4.0% – < 6.0% 8,277 10 6 8,293 6.0% and greater 1,202 — — 1,202 Total $ 67,835 $ 27,438 $ 73,066 $ 168,339
Liability for Future Policy Benefit, Activity	The following is a rollforward by product within future policy benefits: Year ended December 31, 2024 (In millions, except percentages and years) Payout annuities with life contingencies Whole life Total Present value of expected net premiums Beginning balance $ — $ 1,182 $ 1,182 Effect of changes in discount rate assumptions — (45) (45) Effect of foreign exchange on the change in discount rate assumptions — (2) (2) Beginning balance at original discount rate — 1,135 1,135 Effect of actual to expected experience — (4) (4) Adjusted balance — 1,131 1,131 Interest accrual — 22 22 Net premium collected — (190) (190) Foreign exchange — (111) (111) Ending balance at original discount rate — 852 852 Effect of changes in discount rate assumptions — 30 30 Effect of foreign exchange on the change in discount rate assumptions — (2) (2) Ending balance, present value of expected net premiums $ — $ 880 $ 880 Present value of expected future policy benefits Beginning balance $ 45,001 $ 3,371 $ 48,372 Effect of changes in discount rate assumptions 6,233 (89) 6,144 Effect of foreign exchange on the change in discount rate assumptions 1 (6) (5) Beginning balance at original discount rate 51,235 3,276 54,511 Effect of changes in cash flow assumptions (104) — (104) Effect of actual to expected experience 78 (4) 74 Adjusted balance 51,209 3,272 54,481 Issuances 1,115 — 1,115 Interest accrual 1,802 69 1,871 Benefit payments (4,476) (85) (4,561) Foreign exchange (16) (340) (356) Ending balance at original discount rate 49,634 2,916 52,550 Effect of changes in discount rate assumptions (7,378) (206) (7,584) Effect of foreign exchange on the change in discount rate assumptions 5 1 6 Ending balance, present value of expected future policy benefits 42,261 2,711 44,972 Less: Present value of expected net premiums — 880 880 Net future policy benefits $ 42,261 $ 1,831 $ 44,092 Weighted-average liability duration (in years) 9.4 30.7 Weighted-average interest accretion rate 3.7 % 4.8 % Weighted-average current discount rate 5.6 % 4.8 % Expected future gross premiums, undiscounted $ — $ 1,107 Expected future gross premiums, discounted 1 — 929 Expected future benefit payments, undiscounted 72,793 10,618 1 Discounted at the original discount rate. Year ended December 31, 2023 (In millions, except percentages and years) Payout annuities with life contingencies Whole life Total Present value of expected net premiums Beginning balance $ — $ — $ — Issuances — 3,091 3,091 Interest accrual — 6 6 Net premium collected — (2,027) (2,027) Foreign exchange — 65 65 Ending balance at original discount rate — 1,135 1,135 Effect of changes in discount rate assumptions — 45 45 Effect of foreign exchange on the change in discount rate assumptions — 2 2 Ending balance, present value of expected net premiums $ — $ 1,182 $ 1,182 Present value of expected future policy benefits Beginning balance $ 36,422 $ — $ 36,422 Effect of changes in discount rate assumptions 8,425 — 8,425 Effect of foreign exchange on the change in discount rate assumptions (13) — (13) Beginning balance at original discount rate 44,834 — 44,834 Effect of changes in cash flow assumptions (297) — (297) Effect of actual to expected experience (67) — (67) Adjusted balance 44,470 — 44,470 Issuances 10,427 3,091 13,518 Interest accrual 1,646 18 1,664 Benefit payments (3,834) (18) (3,852) Foreign exchange 35 185 220 Other 1 (1,509) — (1,509) Ending balance at original discount rate 51,235 3,276 54,511 Effect of changes in discount rate assumptions (6,233) 89 (6,144) Effect of foreign exchange on the change in discount rate assumptions (1) 6 5 Ending balance, present value of expected future policy benefits 45,001 3,371 48,372 Less: Present value of expected net premiums — 1,182 1,182 Net future policy benefits $ 45,001 $ 2,189 $ 47,190 Weighted-average liability duration (in years) 9.5 33.5 Weighted-average interest accretion rate 3.6 % 4.8 % Weighted-average current discount rate 5.1 % 4.1 % Expected future gross premiums, undiscounted $ — $ 1,497 Expected future gross premiums, discounted 2 — 1,239 Expected future benefit payments, undiscounted 75,261 11,344 1 Other includes a $1,509 million reduction of reserves related to the VIAC recapture agreement. See Note 15 – Related Parties for further information. 2 Discounted at the original discount rate. Year ended December 31, 2022 (In millions, except percentages and years) Payout annuities with life contingencies Whole life Total Present value of expected future policy benefits Beginning balance $ 35,278 $ — $ 35,278 Effect of changes in discount rate assumptions — — — Beginning balance at original discount rate 35,278 — 35,278 Effect of actual to expected experience (120) — (120) Adjusted balance 35,158 — 35,158 Issuances 11,528 — 11,528 Interest accrual 1,146 — 1,146 Benefit payments (2,921) — (2,921) Foreign exchange (77) — (77) Ending balance at original discount rate 44,834 — 44,834 Effect of changes in discount rate assumptions (8,425) — (8,425) Effect of foreign exchange on the change in discount rate assumptions 13 — 13 Ending balance, present value of expected future policy benefits $ 36,422 $ — $ 36,422 Weighted-average liability duration (in years) 10.2 0.0 Weighted-average interest accretion rate 3.2 % — % Weighted-average current discount rate 5.5 % — % Expected future benefit payments, undiscounted $ 64,754 $ — The following is a reconciliation of future policy benefits to the consolidated balance sheets: December 31, (In millions) 2024 2023 2022 Payout annuities with life contingencies $ 42,261 $ 45,001 $ 36,422 Whole life 1,831 2,189 — Reconciling items 1 5,810 6,097 5,688 Future policy benefits $ 49,902 $ 53,287 $ 42,110 1 Reconciling items primarily include the deferred profit liability and negative VOBA associated with our liabilities for future policy benefits. Additionally, it includes term life reserves, fully ceded whole life reserves, and reserves for our immaterial lines of business including 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 and interest expense relating to future policy benefits to the consolidated statements of income (loss): Premiums Years ended December 31, (In millions) 2024 2023 2022 Payout annuities with life contingencies $ 1,085 $ 10,504 $ 11,606 Whole life 204 2,214 — Reconciling items 1 29 31 32 Total premiums $ 1,318 $ 12,749 $ 11,638 Interest expense Years ended December 31, (In millions) 2024 2023 2022 Payout annuities with life contingencies $ 1,802 $ 1,646 $ 1,146 Whole life 47 12 — Total interest expense $ 1,849 $ 1,658 $ 1,146 1 Reconciling items primarily relate to immaterial lines of business including term life, fully ceded whole life, and accident and health and disability. The following is a summary of remeasurement gains (losses) included within future policy and other policy benefits on the consolidated statements of income (loss): Years ended December 31, (In millions) 2024 2023 2022 Reserves $ 25 $ 364 $ 120 Deferred profit liability (48) (246) (126) Negative VOBA 39 (65) 21 Total remeasurement gains (losses) $ 16 $ 53 $ 15
Market Risk Benefit, Activity	The following is a rollforward of net market risk benefit liabilities by product: Year ended December 31, 2024 (In millions, except years) Traditional deferred annuities Indexed annuities Total Balance at December 31, 2023 $ 192 $ 3,181 $ 3,373 Effect of changes in instrument-specific credit risk 2 (10) (8) Balance, beginning of period, before changes in instrument-specific credit risk 194 3,171 3,365 Issuances — 295 295 Interest accrual 10 191 201 Attributed fees collected 2 358 360 Benefit payments (4) (52) (56) Effect of changes in interest rates (18) (640) (658) Effect of changes in equity — (94) (94) Effect of actual policyholder behavior compared to expected behavior 6 73 79 Effect of changes in future expected policyholder behavior (3) 88 85 Effect of changes in other future expected assumptions — (19) (19) Balance, end of period, before changes in instrument-specific credit risk 187 3,371 3,558 Effect of changes in instrument-specific credit risk 3 154 157 Balance at December 31, 2024 190 3,525 3,715 Less: Reinsurance recoverable — 37 37 Balance at December 31, 2024, net of reinsurance $ 190 $ 3,488 $ 3,678 Net amount at risk $ 425 $ 15,441 Weighted-average attained age of contract holders (in years) 76 69 Year ended December 31, 2023 (In millions, except years) 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 — 106 106 Interest accrual 10 147 157 Attributed fees collected 2 336 338 Benefit payments (2) (32) (34) Effect of changes in interest rates (1) (90) (91) Effect of changes in equity — (119) (119) Effect of actual policyholder behavior compared to expected behavior 5 67 72 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 194 3,171 3,365 Effect of changes in instrument-specific credit risk (2) 10 8 Balance at December 31, 2023 $ 192 $ 3,181 $ 3,373 Net amount at risk $ 425 $ 14,716 Weighted-average attained age of contract holders (in years) 75 69 Year ended December 31, 2022 (In millions, except years) Traditional deferred annuities Indexed annuities Total Balance at January 1, 2022 $ 253 $ 4,194 $ 4,447 Issuances — 60 60 Interest accrual 4 52 56 Attributed fees collected 3 330 333 Benefit payments (4) (49) (53) Effect of changes in interest rates (77) (2,092) (2,169) Effect of changes in equity — 176 176 Effect of actual policyholder behavior compared to expected behavior 6 42 48 Effect of changes in other future expected assumptions (2) (41) (43) Balance, end of period, before changes in instrument-specific credit risk 183 2,672 2,855 Effect of changes in instrument-specific credit risk (13) (353) (366) Balance at December 31, 2022 $ 170 $ 2,319 $ 2,489 Net amount at risk $ 422 $ 13,581 Weighted-average attained age of contract holders (in years) 74 68 The following is a reconciliation of market risk benefits to the consolidated balance sheets. Market risk benefit assets are included in other assets on the consolidated balance sheets. December 31, 2024 (In millions) Asset Liability Net liability Traditional deferred annuities $ — $ 190 $ 190 Indexed annuities 313 3,838 3,525 Total $ 313 $ 4,028 $ 3,715 December 31, 2023 (In millions) Asset Liability Net liability Traditional deferred annuities $ — $ 192 $ 192 Indexed annuities 378 3,559 3,181 Total $ 378 $ 3,751 $ 3,373 December 31, 2022 (In millions) Asset Liability Net liability Traditional deferred annuities $ — $ 170 $ 170 Indexed annuities 481 2,800 2,319 Total $ 481 $ 2,970 $ 2,489
Summary of Unobservable Inputs	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: December 31, 2024 (In millions, except 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 $ 28,774 Discounted cash flow Discount rate 4.7 % 20.0 % 7.1 % 1 Decrease Mortgage loans 67,115 Discounted cash flow Discount rate 1.8 % 43.1 % 6.7 % 1 Decrease Investment funds 1,909 Discounted cash flow Discount rate 6.6 % 14.0 % 10.8 % 1 Decrease Interest sensitive contract liabilities – fixed indexed annuities embedded derivatives 11,242 Discounted cash flow Nonperformance risk 0.4 % 1.1 % 0.7 % 2 Decrease Option budget 0.5 % 6.0 % 2.8 % 3 Increase Surrender rate 6.0 % 14.2 % 9.0 % 3 Decrease December 31, 2023 (In millions, except 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 $ 14,247 Discounted cash flow Discount rate 2.3 % 18.1 % 7.0 % 1 Decrease Mortgage loans 47,569 Discounted cash flow Discount rate 2.5 % 20.6 % 6.8 % 1 Decrease Investment funds 1,574 Discounted cash flow Discount rate 6.3 % 13.5 % 11.2 % 1 Decrease 483 Net tangible asset values Implied multiple 1.14x 1.14x 1.14x Increase Interest sensitive contract liabilities – fixed indexed annuities embedded derivatives 9,059 Discounted cash flow Nonperformance risk 0.4 % 1.4 % 0.9 % 2 Decrease Option budget 0.5 % 6.0 % 2.3 % 3 Increase Surrender rate 6.0 % 13.4 % 8.7 % 3 Decrease 1 The discount rate weighted average is calculated based on the relative fair values of the investments. 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: December 31, 2024 (In millions, except 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 $ 3,715 Discounted cash flow Nonperformance risk 0.4 % 1.1 % 1.0 % 1 Decrease Option budget 0.5 % 6.0 % 2.3 % 2 Decrease Surrender rate 3.3 % 7.2 % 4.6 % 2 Decrease Utilization rate 28.6 % 95.0 % 84.9 % 3 Increase December 31, 2023 (In millions, except 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 $ 3,373 Discounted cash flow Nonperformance risk 0.4 % 1.4 % 1.2 % 1 Decrease Option budget 0.5 % 6.0 % 1.9 % 2 Decrease Surrender rate 3.2 % 6.4 % 4.5 % 2 Decrease Utilization rate 28.6 % 95.0 % 83.6 % 3 Increase December 31, 2022 (In millions, except 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 $ 2,489 Discounted cash flow Nonperformance risk 0.2 % 1.6 % 1.4 % 1 Decrease Option budget 0.5 % 5.3 % 1.7 % 2 Decrease Surrender rate 3.3 % 6.7 % 4.4 % 2 Decrease Utilization rate 28.6 % 95.0 % 82.3 % 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.

Closed Block (Tables)

Closed Block (Tables)	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
Schedule of Closed Block Assets and Liabilities	Summarized financial information of the AmerUs Closed Block is presented below. December 31, (In millions) 2024 2023 Liabilities Future policy benefits $ 1,102 $ 1,178 Other policy claims and benefits 21 12 Dividends payable to policyholders 68 70 Other liabilities 9 7 Total liabilities 1,200 1,267 Assets Trading securities 939 989 Mortgage loans 7 11 Policy loans 122 128 Total investments 1,068 1,128 Cash and cash equivalents 77 88 Accrued investment income 13 14 Reinsurance recoverable 18 12 Other assets 5 1 Total assets 1,181 1,243 Maximum future earnings to be recognized from AmerUs Closed Block $ 19 $ 24
Closed Block Operations, Net Results	The following represents the contribution from and to AmerUs Closed Block. Years ended December 31, (In millions) 2024 2023 2022 Revenues Premiums $ 26 $ 29 $ 29 Net investment income 67 68 67 Investment related gains (losses) (44) 40 (310) Total revenues 49 137 (214) Benefits and expenses Future policy and other policy benefits 24 111 (242) Dividends to policyholders 20 21 22 Total benefits and expenses 44 132 (220) Contribution from AmerUs Closed Block before income taxes 5 5 6 Income tax expense — 2 1 Contribution from AmerUs Closed Block, net of income taxes $ 5 $ 3 $ 5

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following is a summary of our debt: Outstanding Balance December 31, (In millions, except percentages) Issue Date Maturity Date Principal Balance 2024 2023 4.125% 2028 Senior Notes January 12, 2018 January 12, 2028 $ 1,000 $ 1,050 $ 1,066 6.150% 2030 Senior Notes April 3, 2020 April 3, 2030 500 579 593 3.500% 2031 Senior Notes October 8, 2020 January 15, 2031 500 520 523 6.650% 2033 Senior Notes November 21, 2022 February 1, 2033 400 395 395 5.875% 2034 Senior Notes December 12, 2023 January 15, 2034 600 584 583 3.950% 2051 Senior Notes May 25, 2021 May 25, 2051 500 544 545 3.450% 2052 Senior Notes December 13, 2021 May 15, 2052 500 504 504 6.250% 2054 Senior Notes March 22, 2024 April 1, 2054 1,000 983 — 6.625% 2054 Subordinated Notes October 10, 2024 October 15, 2054 600 592 — 7.250% 2064 Subordinated Notes March 7, 2024 March 30, 2064 575 558 — Total debt $ 6,175 $ 6,309 $ 4,209

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Accumulated Other Comprehensive Income	(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 (17,929) (463) 69 8,425 366 (27) (9,559) Less: Reclassification adjustments for gains (losses) realized in net income 1 (218) (18) 67 — — — (169) Less: Income tax expense (benefit) (3,154) (86) 12 1,223 77 (5) (1,933) Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of tax (1,992) (25) (57) 1,946 4 (12) (136) Balance at December 31, 2022 (12,565) (334) 47 5,256 285 (10) (7,321) Other comprehensive income (loss) before reclassifications 5,067 51 (117) (2,236) (374) 40 2,431 Less: Reclassification adjustments for gains (losses) realized in net income 1 (163) (3) 82 — — — (84) Less: Income tax expense (benefit) 588 6 (51) 38 (78) 8 511 Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of subsidiary issuance of equity interests and tax 749 3 (19) (476) (14) 9 252 Balance at December 31, 2023 (8,672) (289) (82) 3,458 3 13 (5,569) Other comprehensive income (loss) before reclassifications (1,354) (5) (8) 1,425 (149) (48) (139) Less: Reclassification adjustments for gains (losses) realized in net income 1 (223) (15) 43 — — — (195) Less: Income tax expense (benefit) (219) 3 (8) 287 (31) (10) 22 Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of tax (413) 2 (5) 361 (12) (3) (70) Balance at December 31, 2024 $ (9,171) $ (284) $ (120) $ 4,235 $ (103) $ (22) $ (5,465) 1 Recognized in investment related gains (losses) on the consolidated statements of income (loss).
Dividends Declared	The following summarizes dividends declared per preferred stock share by series: Years ended December 31, (Per share) 2024 2023 2022 Series A $ 1,587.50 $ 1,590.20 $ 1,587.50 Series B 1,406.25 1,406.25 1,406.25 Series C 1,593.75 1,593.75 1,593.75 Series D 1,218.75 1,218.75 1,218.75 Series E 1,937.50 2,034.38 — The following summarizes dividends declared in the aggregate on the preferred stock by series: Years ended December 31, (In millions) 2024 2023 2022 Series A $ 55 $ 55 $ 55 Series B 19 19 19 Series C 38 38 38 Series D 28 28 29 Series E 41 41 — Total dividends declared $ 181 $ 181 $ 141
Schedule of Preferred Stock	We have the following series of preferred stock issuances: Issue date Authorized, issued and outstanding Liquidation preference per share 6.35% Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series A (Series A) June 10, 2019 34,500 $ 25,000 5.625% Fixed-Rate Perpetual Non-Cumulative Preferred Stock, Series B (Series B) September 19, 2019 13,800 $ 25,000 6.375% Fixed-Rate Reset Perpetual Non-Cumulative Preferred Stock, Series C (Series C) June 11, 2020 24,000 $ 25,000 4.875% Fixed-Rate Perpetual Non-Cumulative Preferred Stock, Series D (Series D) December 18, 2020 23,000 $ 25,000 7.75% Fixed-Rate Reset Perpetual Non-Cumulative Preferred Stock, Series E (Series E) December 12, 2022 20,000 $ 25,000

Income Taxes Income Tax Expense

Income Taxes Income Tax Expense (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Components of Income Tax Expense (Benefit)	Income tax expense (benefit) consists of the following: Years ended December 31, (In millions) 2024 2023 2022 Current 1 $ 975 $ 720 $ 373 Deferred (245) (1,881) (1,019) Income tax expense (benefit) $ 730 $ (1,161) $ (646) 1 For the years ended December 31, 2024, 2023 and 2022, current includes proportional amortization of $56 million, $49 million and $0 million, respectively; tax credits of $(332) million, $(164) million and $0 million, respectively; and transaction costs relating to low-income housing and transferable energy tax credits of $238 million, $103 million and $0 million, respectively. Total income taxes were as follows: Years ended December 31, (In millions) 2024 2023 2022 Income tax expense (benefit) $ 730 $ (1,161) $ (646) Income tax expense (benefit) from OCI 22 511 (1,933) Total income tax expense (benefit) $ 752 $ (650) $ (2,579)
Schedule of Income before Income Tax	Income tax expense (benefit) was calculated based on the following income (loss) before income taxes by jurisdiction: Years ended December 31, (In millions) 2024 2023 2022 Bermuda $ 2,146 $ 2,652 $ (3,400) US 3,526 2,179 (2,084) United Kingdom (36) (240) (178) Japan (2) — — Income (loss) before income taxes $ 5,634 $ 4,591 $ (5,662)
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the difference between the expected tax provision at the statutory US tax rate and income tax expense (benefit) is as follows: Years ended December 31, (In millions, except percentages) 2024 2023 2022 Expected tax provision computed on pre-tax income (loss) $ 1,183 $ 964 $ (1,189) Increase (decrease) in income taxes resulting from: Deferred tax valuation allowance 23 (80) 39 Non-deductible expenses 12 11 1 Prior year true-up (22) (38) 48 Stock compensation expense (11) (1) 9 Noncontrolling interests (241) (245) 446 Other 11 73 — Bermuda tax (195) (1,764) — Interest expense attribute 8 (68) — Tax credits (38) (13) — Income tax expense (benefit) $ 730 $ (1,161) $ (646) Effective tax rate 13 % (25) % 11 %
Schedule of Gross Current and Deferred Tax Assets and Liabilities	Current and deferred income tax assets and liabilities were as follows: December 31, (In millions) 2024 2023 Current income tax recoverable $ 364 $ — Current income tax payable 199 67 Net current income tax recoverable (payable) $ 165 $ (67) Deferred tax assets $ 6,259 $ 5,754 Deferred tax liabilities 282 11 Net deferred tax assets $ 5,977 $ 5,743
Schedule of Deferred Tax Assets and Liabilities	Deferred income tax assets and liabilities consisted of the following: December 31, (In millions) 2024 2023 Deferred tax assets Insurance liabilities $ 2,383 $ 1,742 Net operating and capital loss carryforwards 253 284 Investments, including derivatives and unrealized losses on AFS 2,360 1,899 Employee benefits 10 8 Investment in foreign subsidiaries 552 1,176 Bermuda tax 1,959 1,764 Other — 284 Total deferred tax assets 7,517 7,157 Valuation allowance (48) (25) Deferred tax assets, net of valuation allowance 7,469 7,132 Deferred tax liabilities Intangible assets 362 386 DAC, DSI and VOBA 1,120 954 Other 10 49 Total deferred tax liabilities 1,492 1,389 Net deferred tax assets $ 5,977 $ 5,743
Summary of Valuation Allowance	The valuation allowance consists of the following: December 31, (In millions) 2024 2023 US federal and state net operating losses and other deferred tax assets $ 3 $ — UK net operating losses and other deferred tax assets 45 25 Total valuation allowance $ 48 $ 25

Statutory Requirements (Tables)

Statutory Requirements (Tables)	12 Months Ended
	Dec. 31, 2024
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices Disclosure [Table Text Block]	The following represents the EBS capital and surplus and BSCR ratios: December 31, 2024 2023 (In millions, except percentages) EBS capital & surplus BSCR ratio EBS capital & surplus BSCR ratio ALRe $ 23,547 420 % $ 18,245 233 % AARe 27,693 238 % 26,647 291 % ACRA 1A 3,866 165 % 5,296 219 % ACRA 2A 4,277 176 % 3,717 353 % December 31, 2024 (In millions) ALRe AARe ACRA 1A ACRA 2A Increase (decrease) to capital and surplus due to permitted practices $ (5) $ 6,119 $ 3,768 $ 51 Increase (decrease) to statutory net income due to permitted practices 973 (2,695) 54 515 December 31, (In millions) 2024 2023 ALRe $ 10,112 $ 7,023 AARe 10,207 8,012 ACRA 1A 1,044 1,614 ACRA 2A 877 30 Statutory capital and surplus and net income (loss) —The following table presents, for each of our primary insurance subsidiaries, the statutory capital and surplus and the statutory net income (loss), based on the most recent statutory financial statements to be filed with insurance regulators: Statutory capital & surplus Statutory net income (loss) December 31, Years ended December 31, (In millions) 2024 2023 2024 2023 2022 ALRe $ 17,623 $ 14,474 $ 3,140 $ 832 $ 937 AARe 21,049 17,773 2,910 408 1,329 ACRA 1A 4,521 5,092 841 297 (87) ACRA 2A 4,569 1,952 877 (759) (2) AAIA 3,899 3,306 949 (79) (486) AANY 318 290 25 (3) (23)

Related Parties (Tables)

Related Parties (Tables)	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table summarizes our investments in Athora: December 31, (In millions) 2024 2023 Investment fund $ 1,033 $ 1,082 Non-redeemable preferred equity and corporate debt securities 277 249 Total investment in Athora $ 1,310 $ 1,331 We received capital contributions and paid distributions relating to ACRA of the following: Years ended December 31, (In millions) 2024 2023 2022 Contributions from ADIP $ 954 $ 996 $ 1,047 Distributions to ADIP (920) (539) (63)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Restricted Pledged Assets and Funds in Trust	December 31, (In millions) 2024 2023 AFS securities $ 46,337 $ 32,458 Trading securities 1,665 139 Equity securities 286 80 Mortgage loans 27,883 14,257 Investment funds 777 409 Derivative assets 91 73 Short-term investments 2 153 Other investments 1,507 313 Restricted cash 953 1,761 Total restricted assets $ 79,501 $ 49,643

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The reconciliation of total consolidated revenue to total consolidated net income is as follows: Years ended December 31, (In millions) 2024 2023 2022 Revenues $ 20,689 $ 28,194 $ 7,623 Less: Cost of funds 7,702 5,650 3,755 Other operating expenses 467 487 466 Interest and other financing costs 465 436 279 Other liability costs equal to the amount of premium 1,318 12,749 11,638 Other segment items 1 5,103 4,281 (2,853) Income (loss) before income taxes 5,634 4,591 (5,662) Income tax expense (benefit) 730 (1,161) (646) Net income (loss) $ 4,904 $ 5,752 $ (5,016) 1 Other segment items reflect the difference between revenues and significant segment expenses and include the impact of fair value accounting for market risk benefits, embedded derivative remeasurement, the amortization of purchased options on fixed indexed annuities and noncontrolling interests.

Business, Basis of Presentati_3

Business, Basis of Presentation, and Significant Accounting Policies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2022
Significant Accounting Policies [Line Items]
Ownership percentage at which fair value option is elected	3%
Number of predecessors	2
Equity	$ 25,874	$ 21,235	$ 10,549	$ 22,546
Fixed maturity securities, amortized cost	200,247	162,016
Retained earnings (accumulated deficit)
Significant Accounting Policies [Line Items]
Equity	$ 2,237	$ (92)	$ (3,640)	$ 0

Business Combination (Details)

Business Combination (Details) - USD ($) shares in Millions, $ in Millions		12 Months Ended
	Jan. 01, 2022	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023
Common Class A [Member]
Asset Acquisition, Contingent Consideration [Line Items]
Common stock outstanding (in shares)			203.8	203.8
Apollo Global Management , Inc.
Asset Acquisition, Contingent Consideration [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	158.2
Goodwill, Period Increase (Decrease)		$ (108)
Goodwill, Measurement Period Adjustment		25
Goodwill, Other Increase (Decrease)		$ 83
Apollo Global Management , Inc. | Apollo Global Management , Inc.
Asset Acquisition, Contingent Consideration [Line Items]
Common stock outstanding (in shares)	54.6
Apollo Global Management , Inc. | Common Class A [Member]
Asset Acquisition, Contingent Consideration [Line Items]
Common stock outstanding (in shares)	137.6

Business Combination - Schedule

Business Combination - Schedule of Calculation of Consideration (Details) $ / shares in Units, shares in Millions, $ in Millions	Jan. 01, 2022 USD ($) shares	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 $ / shares
Asset Acquisition, Contingent Consideration [Line Items]
Equity	$ 22,546	$ 25,874	$ 21,235	$ 10,549
Common Class A [Member]
Asset Acquisition, Contingent Consideration [Line Items]
Common stock outstanding (in shares) | shares		203.8	203.8
Apollo Global Management , Inc.
Asset Acquisition, Contingent Consideration [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 before Combination	17,604
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value	2,276
Equity	$ 22,546
Apollo Global Management , Inc. | Common Class A [Member]
Asset Acquisition, Contingent Consideration [Line Items]
Common stock outstanding (in shares) | shares	137.6
Apollo Global Management , Inc. | Preferred stock
Asset Acquisition, Contingent Consideration [Line Items]
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value	$ 2,666

Business Combination - Schedu_2

Business Combination - Schedule of Calculation of Goodwill Consideration (Details) - USD ($) $ in Millions	Jan. 01, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Asset Acquisition, Contingent Consideration [Line Items]
Restricted Cash and Cash Equivalents		$ 943
Reinsurance Recoverables, Including Reinsurance Premium Paid		8,194	$ 4,154
Present Value of Future Insurance Profits, Net	$ 3,372	2,210	2,581	$ 2,988
Policyholder Contract Deposit		253,637	204,670	173,616
Liability for Future Policy Benefit, before Reinsurance		49,902	53,287	42,110
Investment-related Liabilities		11,652	7,536
Goodwill		4,063	4,065
Market Risk Benefit, Liability, Amount		4,028	3,751	$ 2,970
Related Party
Asset Acquisition, Contingent Consideration [Line Items]
Reinsurance Recoverables, Including Reinsurance Premium Paid		4,309	0
Policyholder Contract Deposit		6,678	8,599
Liability for Future Policy Benefit, before Reinsurance		25	9
Market Risk Benefit, Liability, Amount		239	227
Variable Interest Entities
Asset Acquisition, Contingent Consideration [Line Items]
Cash and Cash Equivalents, at Carrying Value		583	98
Restricted Cash and Cash Equivalents		$ 10	$ 0
Apollo Global Management , Inc.
Asset Acquisition, Contingent Consideration [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 before Combination	17,604
Investments	176,015
Cash and Cash Equivalents, at Carrying Value	9,479
Restricted Cash and Cash Equivalents	796
Reinsurance Recoverables, Including Reinsurance Premium Paid	4,977
Present Value of Future Insurance Profits, Net	3,372
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Reinsurance Recoverable	6,115
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	238,252
Policyholder Contract Deposit	160,241
Liability for Future Policy Benefit, before Reinsurance	41,482
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt	3,295
Investment-related Liabilities	7,044
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current 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
Market Risk Benefit, Liability, Amount	4,813
Apollo Global Management , Inc. | Preferred stock
Asset Acquisition, Contingent Consideration [Line Items]
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value	2,666
Apollo Global Management , Inc. | Related Party
Asset Acquisition, Contingent Consideration [Line Items]
Investments	33,863
Apollo Global Management , Inc. | Variable Interest Entities
Asset Acquisition, Contingent Consideration [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	3,635
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	$ 461

Business Combination - Fair Val

Business Combination - Fair Value and Weighted Average of Useful Life of Identifiable Intangible Assets (Details) - Apollo Global Management , Inc. $ in Millions	Jan. 01, 2022 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets	$ 5,428
Licensing Agreements
Acquired Finite-Lived Intangible Assets [Line Items]
Indefinite-lived Intangible Assets Acquired	26
Insurance Contracts Acquired in Business Combination
Acquired Finite-Lived Intangible Assets [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
Acquired Finite-Lived Intangible Assets [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
Acquired Finite-Lived Intangible Assets [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	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	$ 200,247	$ 162,016
Allowance for Credit Losses	(709)	(591)	$ (459)
Gross Unrealized Gains	1,257	1,709
Gross Unrealized Losses	(16,304)	(14,787)
Available-for-sale securities	184,491	148,347
Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	180,716	147,561
Allowance for Credit Losses	(708)	(590)	(458)
Gross Unrealized Gains	1,200	1,653
Gross Unrealized Losses	(15,844)	(14,286)
Available-for-sale securities	165,364	134,338
Related Party
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	19,531	14,455
Allowance for Credit Losses	(1)	(1)	(1)
Gross Unrealized Gains	57	56
Gross Unrealized Losses	(460)	(501)
Available-for-sale securities	19,127	14,009
US government and agencies | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	8,413	6,161
Allowance for Credit Losses	0	0
Gross Unrealized Gains	8	67
Gross Unrealized Losses	(1,270)	(829)
Available-for-sale securities	7,151	5,399
US state, municipal and political subdivisions | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	1,167	1,296
Allowance for Credit Losses	0	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(246)	(250)
Available-for-sale securities	921	1,046
Foreign governments | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	2,082	2,083
Allowance for Credit Losses	0	0	(27)
Gross Unrealized Gains	0	71
Gross Unrealized Losses	(514)	(255)
Available-for-sale securities	1,568	1,899
Corporate | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	95,006	88,343
Allowance for Credit Losses	(175)	(129)	(61)
Gross Unrealized Gains	485	830
Gross Unrealized Losses	(11,731)	(10,798)
Available-for-sale securities	83,585	78,246
Corporate | Related Party
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	2,502	1,423
Allowance for Credit Losses	0	0
Gross Unrealized Gains	18	1
Gross Unrealized Losses	(59)	(72)
Available-for-sale securities	2,461	1,352
CLO | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	29,524	20,506
Allowance for Credit Losses	0	(2)	(7)
Gross Unrealized Gains	266	261
Gross Unrealized Losses	(608)	(558)
Available-for-sale securities	29,182	20,207
CLO | Related Party
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	6,130	4,367
Allowance for Credit Losses	0	0	(1)
Gross Unrealized Gains	18	21
Gross Unrealized Losses	(113)	(120)
Available-for-sale securities	6,035	4,268
ABS | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	24,779	13,942
Allowance for Credit Losses	(76)	(49)	(29)
Gross Unrealized Gains	138	120
Gross Unrealized Losses	(640)	(630)
Available-for-sale securities	24,201	13,383
ABS | Related Party
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	10,899	8,665
Allowance for Credit Losses	(1)	(1)	0
Gross Unrealized Gains	21	34
Gross Unrealized Losses	(288)	(309)
Available-for-sale securities	10,631	8,389
CMBS | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	11,158	7,070
Allowance for Credit Losses	(60)	(29)	(5)
Gross Unrealized Gains	75	52
Gross Unrealized Losses	(432)	(502)
Available-for-sale securities	10,741	6,591
RMBS | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	8,587	8,160
Allowance for Credit Losses	(397)	(381)	$ (329)
Gross Unrealized Gains	228	252
Gross Unrealized Losses	(403)	(464)
Available-for-sale securities	$ 8,015	$ 7,567

Investments - Maturities of AFS

Investments - Maturities of AFS Securities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Amortized Cost
Amortized Cost	$ 200,247	$ 162,016
Fair Value
Total AFS securities	184,491	148,347
Related Party
Amortized Cost
Due after one year through five years	1,080
Due after five years through ten years	847
Due after ten years	575
CLO, ABS, CMBS and RMBS	17,029
Amortized Cost	19,531	14,455
Fair Value
Due after one year through five years	1,071
Due after five years through ten years	861
Due after ten years	529
CLO, ABS, CMBS and RMBS	16,666
Total AFS securities	19,127	14,009
Consolidated Entity, excluding Affiliated Entity
Amortized Cost
Due in one year or less	2,576
Due after one year through five years	19,949
Due after five years through ten years	27,734
Due after ten years	56,409
CLO, ABS, CMBS and RMBS	74,048
Amortized Cost	180,716	147,561
Fair Value
Due in one year or less	2,544
Due after one year through five years	19,418
Due after five years through ten years	25,442
Due after ten years	45,821
CLO, ABS, CMBS and RMBS	72,139
Total AFS securities	$ 165,364	$ 134,338

Investments - Unrealized Losses

Investments - Unrealized Losses on AFS Securities (Details) $ in Millions	Dec. 31, 2024 USD ($) security	Dec. 31, 2023 USD ($)
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	$ 41,784	$ 17,675
12 months or more, Fair Value	62,867	79,813
Fair Value	104,651	97,488
Gross Unrealized Losses	(15,368)	(14,368)
12 months or more, Gross Unrealized Losses	(14,039)	(13,567)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(1,329)	(801)
Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	38,166	14,722
12 months or more, Fair Value	58,522	74,046
Fair Value	96,688	88,768
Gross Unrealized Losses	$ (14,968)	(13,887)
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | security	7,745
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security	6,087
12 months or more, Gross Unrealized Losses	$ (13,701)	(13,203)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(1,267)	(684)
Related Party
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	3,618	2,953
12 months or more, Fair Value	4,345	5,767
Fair Value	7,963	8,720
Gross Unrealized Losses	$ (400)	(481)
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | security	144
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security	60
12 months or more, Gross Unrealized Losses	$ (338)	(364)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(62)	(117)
US government and agencies | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	3,010	2,013
12 months or more, Fair Value	3,462	2,389
Fair Value	6,472	4,402
Gross Unrealized Losses	(1,270)	(829)
12 months or more, Gross Unrealized Losses	(1,156)	(735)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(114)	(94)
US state, municipal and political subdivisions | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	67	123
12 months or more, Fair Value	842	888
Fair Value	909	1,011
Gross Unrealized Losses	(246)	(250)
12 months or more, Gross Unrealized Losses	(243)	(245)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(3)	(5)
Foreign governments | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	830	690
12 months or more, Fair Value	738	760
Fair Value	1,568	1,450
Gross Unrealized Losses	(514)	(255)
12 months or more, Gross Unrealized Losses	(309)	(242)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(205)	(13)
Corporate | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	19,530	7,752
12 months or more, Fair Value	44,051	50,028
Fair Value	63,581	57,780
Gross Unrealized Losses	(11,670)	(10,785)
12 months or more, Gross Unrealized Losses	(10,997)	(10,311)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(673)	(474)
Corporate | Related Party
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	499	548
12 months or more, Fair Value	446	382
Fair Value	945	930
Gross Unrealized Losses	(56)	(72)
12 months or more, Gross Unrealized Losses	(47)	(37)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(9)	(35)
CLO | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	2,675	689
12 months or more, Fair Value	2,325	11,579
Fair Value	5,000	12,268
Gross Unrealized Losses	(263)	(545)
12 months or more, Gross Unrealized Losses	(215)	(543)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(48)	(2)
CLO | Related Party
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	586	397
12 months or more, Fair Value	544	2,592
Fair Value	1,130	2,989
Gross Unrealized Losses	(66)	(118)
12 months or more, Gross Unrealized Losses	(56)	(102)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(10)	(16)
ABS | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	9,361	2,129
12 months or more, Fair Value	4,070	4,378
Fair Value	13,431	6,507
Gross Unrealized Losses	(464)	(533)
12 months or more, Gross Unrealized Losses	(309)	(458)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(155)	(75)
ABS | Related Party
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	2,533	2,008
12 months or more, Fair Value	3,355	2,793
Fair Value	5,888	4,801
Gross Unrealized Losses	(278)	(291)
12 months or more, Gross Unrealized Losses	(235)	(225)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(43)	(66)
CMBS | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	1,868	859
12 months or more, Fair Value	1,773	1,967
Fair Value	3,641	2,826
Gross Unrealized Losses	(371)	(418)
12 months or more, Gross Unrealized Losses	(315)	(406)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(56)	(12)
RMBS | Consolidated Entity, excluding Affiliated Entity
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	825	467
12 months or more, Fair Value	1,261	2,057
Fair Value	2,086	2,524
Gross Unrealized Losses	(170)	(272)
12 months or more, Gross Unrealized Losses	(157)	(263)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ (13)	$ (9)

Investments - Net Investment In

Investments - Net Investment Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net Investment Income [Line Items]
Investment revenue			$ 8,373
Investment expenses			(802)
Investment, Type [Extensible Enumeration]	AFS securities
Consolidated Entity Excluding Variable Interest Entities (VIE)
Net Investment Income [Line Items]
Investment revenue	$ 15,833	$ 12,196
Investment expenses	(1,352)	(1,066)
Net investment income	14,481	11,130	7,571
Trading securities
Net Investment Income [Line Items]
Investment revenue			194
Trading securities | Consolidated Entity Excluding Variable Interest Entities (VIE)
Net Investment Income [Line Items]
Investment revenue	161	182
Equity securities
Net Investment Income [Line Items]
Investment revenue			64
Equity securities | Consolidated Entity Excluding Variable Interest Entities (VIE)
Net Investment Income [Line Items]
Investment revenue	90	76
Mortgage loans, net of allowances
Net Investment Income [Line Items]
Investment revenue			1,261
Mortgage loans, net of allowances | Consolidated Entity Excluding Variable Interest Entities (VIE)
Net Investment Income [Line Items]
Investment revenue	3,767	2,360
Investment funds
Net Investment Income [Line Items]
Investment revenue			550
Investment funds | Consolidated Entity Excluding Variable Interest Entities (VIE)
Net Investment Income [Line Items]
Investment Funds Gain (Loss)	(35)	105
Funds withheld at interest
Net Investment Income [Line Items]
Investment revenue			1,844
Funds withheld at interest | Consolidated Entity Excluding Variable Interest Entities (VIE)
Net Investment Income [Line Items]
Investment revenue	1,318	1,752
Other
Net Investment Income [Line Items]
Investment revenue			270
Other | Consolidated Entity Excluding Variable Interest Entities (VIE)
Net Investment Income [Line Items]
Investment revenue	834	820
Foreign currency forwards
Net Investment Income [Line Items]
Investment revenue			$ 4,190
Debt Securities [Member] | Consolidated Entity Excluding Variable Interest Entities (VIE)
Net Investment Income [Line Items]
Investment revenue	$ 9,698	$ 6,901

Investments - Investment Relate

Investments - Investment Related Gains (Losses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Gain (Loss) on Securities [Line Items]
Proceeds from Sale of Debt Securities, Available-for-sale	$ 21,689	$ 6,464	$ 9,421
AFS securities1
Gross realized gains on investment activity			1,337
Gross realized losses on investment activity			(2,151)
Net realized investment gains (losses) on AFS securities	(1,002)	147	(814)
Net recognized investment gains (losses) on trading securities			(424)
Net recognized investment gains (losses) on equity securities			(150)
Derivative gains (losses)			(9,173)
Other gains (losses)			1,056
Provision for Loan, Lease, and Other Losses			(227)
Gain (Loss) on Investments	2,045	1,428	(12,706)
Related Party
AFS securities1
Gain (Loss) on Investments	20	18	(1,670)
Consolidated Entity, excluding VIE Primary Beneficiary
AFS securities1
Debt Securities, Trading, Unrealized Gain (Loss)	(42)	93	(414)
Equity Securities, FV-NI, Unrealized Gain (Loss)	12	49	(146)
Consolidated Entity Excluding Variable Interest Entities (VIE)
AFS securities1
Gross realized gains on investment activity	977	926
Gross realized losses on investment activity	(1,979)	(779)
Net recognized investment gains (losses) on trading securities	(170)	66
Net recognized investment gains (losses) on equity securities	22	13
Derivative gains (losses)	2,205	2,135
Other gains (losses)	1,303	(805)
Provision for Loan, Lease, and Other Losses	(181)	(335)
Gain (Loss) on Investments	2,045	1,428
Mortgage loans
AFS securities1
Total gains (losses)			$ (2,974)
Mortgage loans | Consolidated Entity Excluding Variable Interest Entities (VIE)
AFS securities1
Gain (Loss) on Investments	$ (132)	$ 207

Investments - Repurchase Agreem

Investments - Repurchase Agreements (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Pledged Financial Instruments, Not Separately Reported, Securities for Repurchase Agreements, Amortized Cost	$ 6,841	$ 4,659
Secured Debt, Repurchase Agreements	5,716	3,853
Pledged Financial Instruments, Not Separately Reported, Securities for Repurchase Agreements, Fair Value	$ 5,878	4,071
Investment, Type [Extensible Enumeration]	AFS securities
Maturity Less than 30 Days [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Secured Debt, Repurchase Agreements	$ 2,752	686
Maturity 30 to 90 Days [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Secured Debt, Repurchase Agreements	300	0
Maturity Greater than 1 Year [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Secured Debt, Repurchase Agreements	1,569	3,167
91 Days to 1 Year
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Secured Debt, Repurchase Agreements	1,095	0
Corporate
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Pledged Financial Instruments, Not Separately Reported, Securities for Repurchase Agreements, Amortized Cost	1,877	2,735
Pledged Financial Instruments, Not Separately Reported, Securities for Repurchase Agreements, Fair Value	1,573	2,307
US government and agencies
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Pledged Financial Instruments, Not Separately Reported, Securities for Repurchase Agreements, Amortized Cost	3,253	0
Pledged Financial Instruments, Not Separately Reported, Securities for Repurchase Agreements, Fair Value	2,693	0
Collateralized Loan Obligations
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Pledged Financial Instruments, Not Separately Reported, Securities for Repurchase Agreements, Amortized Cost	587	580
Pledged Financial Instruments, Not Separately Reported, Securities for Repurchase Agreements, Fair Value	588	579
Foreign governments
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Pledged Financial Instruments, Not Separately Reported, Securities for Repurchase Agreements, Amortized Cost	159	137
Pledged Financial Instruments, Not Separately Reported, Securities for Repurchase Agreements, Fair Value	107	99
ABS
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Pledged Financial Instruments, Not Separately Reported, Securities for Repurchase Agreements, Amortized Cost	596	1,207
Pledged Financial Instruments, Not Separately Reported, Securities for Repurchase Agreements, Fair Value	552	1,086
RMBS
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Pledged Financial Instruments, Not Separately Reported, Securities for Repurchase Agreements, Amortized Cost	369	0
Pledged Financial Instruments, Not Separately Reported, Securities for Repurchase Agreements, Fair Value	$ 365	$ 0

Investments - Mortgage Loans, N

Investments - Mortgage Loans, Net (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans	$ 67,115	$ 47,569
Commercial Real Estate Portfolio Segment [Member]
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	32,432	26,612
Investment Owned, Balance, Principal Amount	34,531	28,858
Mark to fair value	(2,099)	(2,246)
Commercial Real Estate Portfolio Segment [Member] | Commercial Mortgage Loans Excluding Loans Under Development [Member]
Loans and Leases Receivable Disclosure [Line Items]
Investment Owned, Balance, Principal Amount	32,544	27,630
Commercial Real Estate Portfolio Segment [Member] | Commercial Mortgage Loans Under Development [Member]
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, before Allowance for Credit Loss		1,228
Investment Owned, Balance, Principal Amount	1,987
Residential Mortgage [Member]
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	34,683	20,957
Investment Owned, Balance, Principal Amount	35,223	21,894
Mark to fair value	$ (540)	$ (937)

Investments - Mortgage Loans,_2

Investments - Mortgage Loans, Net by Property Type and Geographic Region (Details) - Commercial Real Estate Portfolio Segment [Member] - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	$ 32,432	$ 26,612
Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	100%	100%
Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	100%	100%
Total US region
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	$ 26,968	$ 22,598
Total US region | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	83.20%	85%
East North Central
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	$ 1,546	$ 1,517
East North Central | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	4.80%	5.70%
East South Central
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	$ 438	$ 523
East South Central | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	1.30%	2%
Middle Atlantic
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	$ 8,386	$ 7,147
Middle Atlantic | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	25.90%	26.90%
Mountain
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	$ 1,322	$ 1,196
Mountain | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	4.10%	4.50%
New England
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	$ 1,118	$ 1,295
New England | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	3.40%	4.90%
Pacific
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	$ 5,768	$ 4,860
Pacific | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	17.80%	18.30%
South Atlantic
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	$ 6,198	$ 4,583
South Atlantic | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	19.10%	17.20%
West North Central
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	$ 221	$ 249
West North Central | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	0.70%	0.90%
West South Central
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	$ 1,971	$ 1,228
West South Central | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	6.10%	4.60%
Office building
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	$ 4,162	$ 4,455
Office building | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	12.80%	16.70%
Retail
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	$ 2,269	$ 2,158
Retail | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	7%	8.10%
Apartment
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	$ 11,746	$ 9,591
Apartment | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	36.20%	36%
Hotels
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	$ 2,786	$ 2,913
Hotels | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	8.60%	11%
Industrial
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	$ 6,793	$ 4,143
Industrial | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	21%	15.60%
Other commercial
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans	$ 4,676	$ 3,352
Other commercial | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	14.40%	12.60%

Investments - Residential Mortg

Investments - Residential Mortgage Loans, Percentage by Geographical Location (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Residential Mortgage [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 34,683	$ 20,957
Residential Mortgage [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	100%	100%
Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 32,432	$ 26,612
Commercial Real Estate Portfolio Segment [Member] | Office building
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	4,162	4,455
Commercial Real Estate Portfolio Segment [Member] | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	2,269	2,158
Commercial Real Estate Portfolio Segment [Member] | Apartment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	11,746	9,591
Commercial Real Estate Portfolio Segment [Member] | Hotels
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	2,786	2,913
Commercial Real Estate Portfolio Segment [Member] | Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	6,793	4,143
Commercial Real Estate Portfolio Segment [Member] | Other commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 4,676	$ 3,352
Commercial Real Estate Portfolio Segment [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	100%	100%
Commercial Real Estate Portfolio Segment [Member] | Property Type Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	100%	100%
Commercial Real Estate Portfolio Segment [Member] | Property Type Concentration Risk | Mortgage Loans, Net | Office building
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	12.80%	16.70%
Commercial Real Estate Portfolio Segment [Member] | Property Type Concentration Risk | Mortgage Loans, Net | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	7%	8.10%
Commercial Real Estate Portfolio Segment [Member] | Property Type Concentration Risk | Mortgage Loans, Net | Apartment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	36.20%	36%
Commercial Real Estate Portfolio Segment [Member] | Property Type Concentration Risk | Mortgage Loans, Net | Hotels
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	8.60%	11%
Commercial Real Estate Portfolio Segment [Member] | Property Type Concentration Risk | Mortgage Loans, Net | Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	21%	15.60%
Commercial Real Estate Portfolio Segment [Member] | Property Type Concentration Risk | Mortgage Loans, Net | Other commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	14.40%	12.60%
Total US region | Residential Mortgage [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	90.90%	91%
Total US region | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 26,968	$ 22,598
Total US region | Commercial Real Estate Portfolio Segment [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	83.20%	85%
California | Residential Mortgage [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	25.60%	27.60%
Florida | Residential Mortgage [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	12.40%	12%
New York | Residential Mortgage [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	4.70%	5.90%
Other U.S. States | Residential Mortgage [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	40.80%	39.40%
International Other | Residential Mortgage [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	4.70%	5%
International Other | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 3,183	$ 1,671
International Other | Commercial Real Estate Portfolio Segment [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	9.80%	6.30%
International | Residential Mortgage [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	9.10%	9%
International | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 5,464	$ 4,014
International | Commercial Real Estate Portfolio Segment [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	16.80%	15%
UNITED KINGDOM | Residential Mortgage [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	4.40%	4%
UNITED KINGDOM | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 2,281	$ 2,343
UNITED KINGDOM | Commercial Real Estate Portfolio Segment [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	7%	8.70%
East North Central | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 1,546	$ 1,517
East North Central | Commercial Real Estate Portfolio Segment [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	4.80%	5.70%
East South Central | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 438	$ 523
East South Central | Commercial Real Estate Portfolio Segment [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	1.30%	2%
Middle Atlantic | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 8,386	$ 7,147
Middle Atlantic | Commercial Real Estate Portfolio Segment [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	25.90%	26.90%
Mountain | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 1,322	$ 1,196
Mountain | Commercial Real Estate Portfolio Segment [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	4.10%	4.50%
New England | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 1,118	$ 1,295
New England | Commercial Real Estate Portfolio Segment [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	3.40%	4.90%
Pacific | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 5,768	$ 4,860
Pacific | Commercial Real Estate Portfolio Segment [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	17.80%	18.30%
South Atlantic | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 6,198	$ 4,583
South Atlantic | Commercial Real Estate Portfolio Segment [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	19.10%	17.20%
West North Central | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 221	$ 249
West North Central | Commercial Real Estate Portfolio Segment [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	0.70%	0.90%
West South Central | Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans	$ 1,971	$ 1,228
West South Central | Commercial Real Estate Portfolio Segment [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	6.10%	4.60%
TEXAS | Residential Mortgage [Member] | Geographic Concentration Risk | Mortgage Loans, Net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	7.40%	6.10%

Investments - Loan Valuation Al

Investments - Loan Valuation Allowance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 709	$ 591	$ 459
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded	118	155
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase	0	53
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	(41)	(55)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)	41	(6)
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Sell before Recovery	0	(15)
Consolidated Entity, excluding Affiliated Entity
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	708	590	458
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded	118	154
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase	0	53
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	(41)	(55)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)	41	(5)
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Sell before Recovery	0	(15)
Related Party
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	1	1	1
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded		1
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase		0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold		0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)		(1)
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Sell before Recovery		0
Corporate | Consolidated Entity, excluding Affiliated Entity
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	175	129	61
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded	48	88
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	(8)	(8)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)	6	3
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Sell before Recovery	0	(15)
Corporate | Related Party
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	0
CLO | Consolidated Entity, excluding Affiliated Entity
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	2	7
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded	1	1
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)	(3)	(6)
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Sell before Recovery	0	0
CLO | Related Party
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	0	1
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded		0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase		0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold		0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)		(1)
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Sell before Recovery		0
ABS | Consolidated Entity, excluding Affiliated Entity
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	76	49	29
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded	25	23
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	(16)	(4)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)	18	1
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Sell before Recovery	0	0
ABS | Related Party
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	1	1	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded	0	1
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)	0	0
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Sell before Recovery	0	0
CMBS | Consolidated Entity, excluding Affiliated Entity
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	60	29	5
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded	27	26
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	0	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)	4	(2)
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Sell before Recovery	0	0
RMBS | Consolidated Entity, excluding Affiliated Entity
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	397	381	329
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded	17	16
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase	0	53
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	(17)	(16)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)	16	(1)
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Sell before Recovery	0	0
Foreign governments | Consolidated Entity, excluding Affiliated Entity
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 0	0	$ 27
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded		0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase		0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold		(27)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)		0
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Sell before Recovery		$ 0

Investments - Investment Funds

Investments - Investment Funds Summary (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 19,725	$ 17,668
Carrying Amount, Assets, Percent of Total	100%	100%
Consolidated Entity, excluding Affiliated Entity
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 107	$ 109
Variable Interest Entities
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 17,765	$ 15,927
Carrying Amount, Assets, Percent of Total	90%	90.20%
Related Party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 1,853	$ 1,632
Carrying Amount, Assets, Percent of Total	9.50%	9.20%
Other Fund [Member] | Variable Interest Entities
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 654	$ 573
Carrying Amount, Assets, Percent of Total	3.30%	3.30%
Other Fund [Member] | Related Party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 10	$ 13
Carrying Amount, Assets, Percent of Total	0.10%	0.10%
Strategic Origination Platforms | Variable Interest Entities
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 6,347	$ 4,987
Carrying Amount, Assets, Percent of Total	32.20%	28.20%
Strategic Origination Platforms | Related Party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 29	$ 32
Carrying Amount, Assets, Percent of Total	0.20%	0.20%
Equity Funds | Consolidated Entity, excluding Affiliated Entity
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 107	$ 109
Carrying Amount, Assets, Percent of Total	0.50%	0.60%
Equity Funds | Variable Interest Entities
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 7,702	$ 7,032
Carrying Amount, Assets, Percent of Total	39%	39.80%
Equity Funds | Related Party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 244	$ 267
Carrying Amount, Assets, Percent of Total	1.20%	1.50%
Hybrid Funds | Variable Interest Entities
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 3,062	$ 2,852
Carrying Amount, Assets, Percent of Total	15.50%	16.20%
Hybrid Funds | Related Party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 253	$ 20
Carrying Amount, Assets, Percent of Total	1.30%	0.10%
Insurance Platforms | Variable Interest Entities
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 0	$ 483
Carrying Amount, Assets, Percent of Total	0%	2.70%
Insurance Platforms | Related Party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 1,317	$ 1,300
Carrying Amount, Assets, Percent of Total	6.70%	7.30%

Investments - Equity Method Inv

Investments - Equity Method Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2022	Jan. 01, 2022
Schedule of Equity Method Investments [Line Items]
Assets	$ 363,343	$ 300,579
Liabilities	337,469	279,344
Equity	25,874	21,235	$ 10,549	$ 10,549	$ 22,546
Net income (loss)	$ 4,904	$ 5,752	$ (5,016)	$ (5,016)

Investments - Summary of Maximu

Investments - Summary of Maximum Loss Exposure (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	$ 124,634	$ 92,042
Assets	363,343	300,579
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	109,721	79,636
Variable Interest Entity, Not Primary Beneficiary | Investment funds
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	23,597	22,240
Assets	17,765	15,927
Variable Interest Entity, Not Primary Beneficiary | Related Party | Investment funds
Variable Interest Entity [Line Items]
Assets		1,632
Variable Interest Entity, Not Primary Beneficiary, Affiliated Entity | Investment funds
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	3,226	2,377
Assets	1,853
Variable Interest Entity, Not Primary Beneficiary, Consolidated Entity Excluding Affiliated | Investment funds
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	987	876
Assets	107	109
Fixed Maturity Securities | Variable Interest Entity, Not Primary Beneficiary, Affiliated Entity
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	21,793	15,608
Assets	17,239	13,495
Fixed Maturity Securities | Variable Interest Entity, Not Primary Beneficiary, Consolidated Entity Excluding Affiliated
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	74,797	50,623
Assets	72,523	48,155
Equity securities | Variable Interest Entity, Not Primary Beneficiary, Affiliated Entity
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	234	318
Assets	$ 234	$ 318

Investments - Reverse Repurchas

Investments - Reverse Repurchase Agreements (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Securities Purchased under Agreements to Resell	$ 935	$ 947
Securities Purchased under Agreements to Resell, Fair Value of Collateral	$ 2,208	$ 1,504

Investments - Concentrations of

Investments - Concentrations of Equity (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Stockholders' Equity, Total | Wheels Donlen
Concentration Risk [Line Items]
Investments		$ 1,591
Stockholders' Equity, Total | AT&T
Concentration Risk [Line Items]
Investments		$ 1,526
Stockholders' Equity, Total | AP Grange Holdings, LLC
Concentration Risk [Line Items]
Investments	$ 4,661
Stockholders' Equity, Total | Atlas
Concentration Risk [Line Items]
Investments	3,172
Stockholders' Equity, Total | Fox Hedge L.P.
Concentration Risk [Line Items]
Investments	$ 2,924
Mortgage Loans, Net | Geographic Concentration Risk | Residential Mortgage [Member]
Concentration Risk [Line Items]
Percentage of Total	100%	100%
Mortgage Loans, Net | California | Geographic Concentration Risk | Residential Mortgage [Member]
Concentration Risk [Line Items]
Percentage of Total	25.60%	27.60%
Mortgage Loans, Net | Florida | Geographic Concentration Risk | Residential Mortgage [Member]
Concentration Risk [Line Items]
Percentage of Total	12.40%	12%
Mortgage Loans, Net | TEXAS | Geographic Concentration Risk | Residential Mortgage [Member]
Concentration Risk [Line Items]
Percentage of Total	7.40%	6.10%
Mortgage Loans, Net | New York | Geographic Concentration Risk | Residential Mortgage [Member]
Concentration Risk [Line Items]
Percentage of Total	4.70%	5.90%
Mortgage Loans, Net | Other U.S. States | Geographic Concentration Risk | Residential Mortgage [Member]
Concentration Risk [Line Items]
Percentage of Total	40.80%	39.40%
Mortgage Loans, Net | Total US region | Geographic Concentration Risk | Residential Mortgage [Member]
Concentration Risk [Line Items]
Percentage of Total	90.90%	91%
Mortgage Loans, Net | UNITED KINGDOM | Geographic Concentration Risk | Residential Mortgage [Member]
Concentration Risk [Line Items]
Percentage of Total	4.40%	4%
Mortgage Loans, Net | International Other | Geographic Concentration Risk | Residential Mortgage [Member]
Concentration Risk [Line Items]
Percentage of Total	4.70%	5%
Mortgage Loans, Net | International | Geographic Concentration Risk | Residential Mortgage [Member]
Concentration Risk [Line Items]
Percentage of Total	9.10%	9%

Derivative Instruments - Summar

Derivative Instruments - Summary of Notional and Fair Value of Derivative Assets and Liabilities (Details) $ in Millions	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Derivative [Line Items]
Derivative assets, fair value	$ 8,154	$ 5,298
Gross amount recognized	3,556	1,995
Total derivative assets, including embedded derivatives, fair value	4,504	1,198
Total derivative liabilities, including embedded derivatives, fair value	14,802	10,990
Derivatives designated as hedges
Derivative [Line Items]
Derivative assets, fair value	1,335	781
Gross amount recognized	$ 1,008	$ 954
Derivatives designated as hedges | Swaps
Derivative [Line Items]
Notional Amount	15,669	9,034
Derivative assets, fair value	$ 938	$ 477
Gross amount recognized	$ 211	$ 230
Derivatives designated as hedges | Foreign currency forwards
Derivative [Line Items]
Notional Amount	3,139	6,294
Derivative assets, fair value	$ 331	$ 275
Gross amount recognized	$ 5	$ 102
Derivatives designated as hedges | Interest rate swaps and forwards
Derivative [Line Items]
Notional Amount	24,885	10,031
Derivative assets, fair value	$ 55	$ 29
Gross amount recognized	$ 138	$ 95
Derivatives designated as hedges | Cross Currency Interest Rate Contract
Derivative [Line Items]
Notional Amount	4,506	4,468
Derivative assets, fair value	$ 0	$ 0
Gross amount recognized	$ 654	$ 521
Derivatives designated as hedges | Forwards on net investments | Foreign currency forwards
Derivative [Line Items]
Notional Amount	218	219
Derivative assets, fair value	$ 11	$ 0
Gross amount recognized	0	6
Derivatives not designated as hedges
Derivative [Line Items]
Total derivative assets, including embedded derivatives, fair value	3,169	417
Total derivative liabilities, including embedded derivatives, fair value	$ 13,794	$ 10,036
Derivatives not designated as hedges | Swaps
Derivative [Line Items]
Notional Amount	14,908	8,072
Derivative assets, fair value	$ 600	$ 230
Gross amount recognized	$ 199	$ 244
Derivatives not designated as hedges | Foreign currency forwards
Derivative [Line Items]
Notional Amount	39,598	28,236
Derivative assets, fair value	$ 1,054	$ 286
Gross amount recognized	$ 2,083	$ 685
Derivatives not designated as hedges | Equity options
Derivative [Line Items]
Notional Amount	85,452	73,881
Derivative assets, fair value	$ 5,002	$ 3,809
Gross amount recognized	$ 126	$ 102
Derivatives not designated as hedges | Futures
Derivative [Line Items]
Notional Amount	37	35
Derivative assets, fair value	$ 93	$ 72
Gross amount recognized	$ 11	$ 0
Derivatives not designated as hedges | Interest rate swaps and forwards
Derivative [Line Items]
Notional Amount	3,255	3,499
Derivative assets, fair value	$ 67	$ 81
Gross amount recognized	124	9
Derivatives not designated as hedges | Embedded derivatives | Funds withheld including related parties
Derivative [Line Items]
Embedded derivative assets, fair value	3,650	4,100
Embedded derivative liabilities, fair value	4	(64)
Derivatives not designated as hedges | Embedded derivatives | Interest sensitive contract liabilities
Derivative [Line Items]
Embedded derivative assets, fair value	0	0
Embedded derivative liabilities, fair value	$ 11,242	$ 9,059
Derivatives not designated as hedges | Other swaps
Derivative [Line Items]
Notional Amount	2,644	2,588
Derivative assets, fair value	$ 3	$ 39
Gross amount recognized	$ 5	$ 1

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Gains (losses) on foreign currency forwards on net investments	$ 56,000,000	$ 2,515,000,000	$ (9,390,000,000)
Net investment hedge loss	29,000,000	26,000,000
Amount of Ineffectiveness on Net Investment Hedges	0	0	0
Cash flow hedges | Derivatives designated as hedges | Swaps
Derivative [Line Items]
Gain (Loss) on Foreign Currency Cash Flow Hedge Ineffectiveness	0	0	0
Cash flow hedges | Derivatives designated as hedges | Interest rate swaps and forwards
Derivative [Line Items]
Foreign currency swap gains (losses)			(106,000,000)
Expected to be reclassified to income	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	1,000,000	33,000,000
Fair Value Hedging | Derivatives designated as hedges | Forwards on net investments
Derivative [Line Items]
Gains (losses) on foreign currency forwards on net investments	$ 3,000,000	$ (4,000,000)	$ 30,000,000

Derivative Instruments - Cumula

Derivative Instruments - Cumulative Fair Value of Hedge Adjustments (Details) - Fair Value Hedging - Derivatives designated as hedges - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Interest sensitive contract liabilities | Swaps
Derivative [Line Items]
Carrying amount of the hedged assets or liabilities	$ 2,426	$ 1,438
Cumulative amount of fair value hedging gains (losses), AFS securities	130	19
Interest sensitive contract liabilities | Cross Currency Interest Rate Contract
Derivative [Line Items]
Carrying amount of the hedged assets or liabilities	3,946	4,010
Cumulative amount of fair value hedging gains (losses), AFS securities	488	363
Interest sensitive contract liabilities | Interest rate swaps and forwards
Derivative [Line Items]
Carrying amount of the hedged assets or liabilities	17,873	6,910
Cumulative amount of fair value hedging gains (losses), AFS securities	130	189
Debt Securities [Member] | Foreign currency forwards
Derivative [Line Items]
Carrying amount of the hedged assets or liabilities	3,790	4,883
Cumulative amount of fair value hedging gains (losses), AFS securities	(258)	(15)
Debt Securities [Member] | Swaps
Derivative [Line Items]
Carrying amount of the hedged assets or liabilities	12,517	6,820
Cumulative amount of fair value hedging gains (losses), AFS securities	$ (842)	$ (141)

Derivative Instruments - Gains

Derivative Instruments - Gains (Losses) Related to Derivative and Hedge Items (Details) - Derivatives designated as hedges - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair Value Hedging | Foreign currency forwards
Derivative [Line Items]
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net, Recorded in Other Comprehensive Income	$ (23)	$ (45)	$ 20
Fair Value Hedging | Swaps
Derivative [Line Items]
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net, Recorded in Other Comprehensive Income	(29)	(187)	88
Fair Value Hedging | Investment related gains (losses) | Foreign currency forwards
Derivative [Line Items]
Derivatives	220	(169)	183
Hedged items	(238)	167	(190)
Net	(18)	(2)	(7)
Recognized in income through amortization approach	43	82	67
Recognized in income through changes in fair value	19	20	9
Fair Value Hedging | Investment related gains (losses) | Swaps
Derivative [Line Items]
Derivatives	513	(159)	286
Hedged items	(520)	169	(310)
Net	(7)	10	(24)
Recognized in income through amortization approach	0	0	0
Recognized in income through changes in fair value	0	0	0
Fair Value Hedging | Investment related gains (losses) | Cross Currency Interest Rate Contract
Derivative [Line Items]
Derivatives	(160)	282	(622)
Hedged items	148	(269)	632
Net	(12)	13	10
Recognized in income through amortization approach	0	0	0
Recognized in income through changes in fair value	0	0	0
Fair Value Hedging | Investment related gains (losses) | Interest rate swaps and forwards
Derivative [Line Items]
Derivatives	6	111	(332)
Hedged items	(58)	(118)	323
Net	(52)	(7)	(9)
Recognized in income through amortization approach	0	0	0
Recognized in income through changes in fair value	0	0	0
Fair Value Hedging | Interest sensitive contract benefits | Cross Currency Interest Rate Contract
Derivative [Line Items]
Derivatives	87	57	52
Hedged items	(85)	(60)	(53)
Net	2	(3)	(1)
Recognized in income through amortization approach	0	0
Recognized in income through changes in fair value	$ 0	$ 0
Cash flow hedges | Interest rate swaps and forwards
Derivative [Line Items]
Foreign currency swap gains (losses)			$ (106)

Derivative Instruments - Gain_2

Derivative Instruments - Gains (Losses) Related to Derivatives Not Designated as Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Total gains (losses) on derivatives not designated as hedges	$ 1,390	$ 525	$ (5,996)
Investment related gains (losses)
Derivative [Line Items]
Total gains (losses) on derivatives not designated as hedges	1,564	1,968	(8,764)
Equity options | Investment related gains (losses)
Derivative [Line Items]
Total gains (losses) on derivatives not designated as hedges	1,921	1,564	(2,647)
Futures | Investment related gains (losses)
Derivative [Line Items]
Total gains (losses) on derivatives not designated as hedges	72	73	(144)
Interest rate swaps and forwards and other swaps | Investment related gains (losses)
Derivative [Line Items]
Total gains (losses) on derivatives not designated as hedges	344	(108)	56
Foreign currency forwards | Investment related gains (losses)
Derivative [Line Items]
Total gains (losses) on derivatives not designated as hedges	(775)	(495)	505
Embedded derivatives | Investment related gains (losses)
Derivative [Line Items]
Total gains (losses) on derivatives not designated as hedges	2	934	(6,534)
Embedded derivatives | Interest sensitive contract benefits
Derivative [Line Items]
Total gains (losses) on derivatives not designated as hedges	$ (174)	$ (1,443)	$ 2,768

Derivative Instruments - Fair V

Derivative Instruments - Fair Value of Net Derivative and Other Financial Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Derivative assets
Derivative assets	$ 8,154	$ 5,298
Financial instruments	(2,209)	(1,497)
Collateral (received)/pledged	(5,922)	(3,676)
Net amount	23	125
Off-balance sheet securities collateral	0	0
Derivative liabilities
Derivative Liability	(3,556)	(1,995)
Financial instruments	2,209	1,497
Collateral (received)/pledged	1,333	848
Net amount	(14)	350
Off-balance sheet securities collateral	2	0
Net amount after securities collateral	(12)	350
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	$ 23	$ 125

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Investment revenue			$ 8,373
Gain (Loss) on Investments	$ 2,045	$ 1,428	(12,706)
Provision for Loan, Lease, and Other Losses			(227)
Other gains (losses)			1,056
Trading securities
Variable Interest Entity [Line Items]
Investment revenue			194
Mortgage loans, net of allowances
Variable Interest Entity [Line Items]
Investment revenue			1,261
Investment funds
Variable Interest Entity [Line Items]
Investment revenue			550
Other investments
Variable Interest Entity [Line Items]
Investment revenue			270
Variable Interest Entities
Variable Interest Entity [Line Items]
Net investment income	282	257	111
Gain (Loss) on Investments	1,528	1,191	319
Other gains (losses)	(6)	(29)
Variable Interest Entities | Mortgage loans
Variable Interest Entity [Line Items]
Gain (Loss) on Investments	(35)	(22)
Variable Interest Entities | Investment funds
Variable Interest Entity [Line Items]
Gain (Loss) on Investments	1,552	1,232
Variable Interest Entities | Trading securities
Variable Interest Entity [Line Items]
Investment revenue	152	116	34
Gain (Loss) on Investments	17	10	(66)
Variable Interest Entities | Mortgage loans, net of allowances
Variable Interest Entity [Line Items]
Investment revenue	128	110	88
Variable Interest Entities | Investment funds
Variable Interest Entity [Line Items]
Investment revenue			9
Investment Funds Gain (Loss)	46	41
Gain (Loss) on Investments			552
Variable Interest Entities | Other investments
Variable Interest Entity [Line Items]
Investment Funds Gain (Loss)	$ (44)	$ (10)	(20)
Gain (Loss) on Investments			83
Variable Interest Entities | Mortgage loans
Variable Interest Entity [Line Items]
Gain (Loss) on Investments			$ (250)

Fair Value - Assets and Liabili

Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Assets
Available-for-sale securities	$ 184,491	$ 148,347
Investment funds	19,725	17,668
Derivative assets, fair value	8,154	5,298
Restricted Cash and Cash Equivalents	943
Reinsurance Recoverables, Including Reinsurance Premium Paid	8,194	4,154
Liabilities
Policyholder Contract Deposit	253,637	204,670	$ 173,616
Liability for Future Policy Benefit, before Reinsurance	49,902	53,287	42,110
Derivative liabilities	3,556	1,995
Other Assets	11,253	10,179
Market Risk Benefit, Liability, Amount	4,028	3,751	$ 2,970
Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	165,364	134,338
Trading securities	1,583	1,706
Mortgage loans	63,239	44,115
Investment funds	107	109
Funds withheld at interest	(18,866)	(24,359)
Derivative assets, fair value	8,154	5,298
Short-term investments	447	341
Other investments	2,915	1,206
Related Party
Assets
Available-for-sale securities	19,127	14,009
Trading securities	573	838
Equity securities	234	318
Mortgage loans	1,297	1,281
Investment funds	1,853	1,632
Investment funds	1,139	1,082
Funds withheld at interest	(5,050)	(6,474)
Short-term investments	743	947
Other investments	331	343
Reinsurance Recoverables, Including Reinsurance Premium Paid	4,309	0
Liabilities
Policyholder Contract Deposit	6,678	8,599
Liability for Future Policy Benefit, before Reinsurance	25	9
Other Assets	203	189
Market Risk Benefit, Liability, Amount	239	227
Variable Interest Entities
Assets
Trading securities	2,301	2,136
Mortgage loans	2,579	2,173
Investment funds	17,765	15,927
Other investments	884	103
Restricted Cash and Cash Equivalents	10	0
Liabilities
Other Assets	565	110
US government and agencies | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	7,151	5,399
US state, municipal and political subdivisions | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	921	1,046
Foreign governments | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	1,568	1,899
Corporate | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	83,585	78,246
Corporate | Related Party
Assets
Available-for-sale securities	2,461	1,352
CLO | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	29,182	20,207
CLO | Related Party
Assets
Available-for-sale securities	6,035	4,268
ABS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	24,201	13,383
ABS | Related Party
Assets
Available-for-sale securities	10,631	8,389
CMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	10,741	6,591
RMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	8,015	7,567
Level 3
Assets
Mortgage loans	67,115	47,569
Recurring | Consolidated Entity, excluding Affiliated Entity
Assets
Trading securities	1,583
Recurring | Level 1
Assets
Cash and cash equivalents	12,733	13,020
Restricted Cash and Cash Equivalents	943	1,761
Reinsurance Recoverables, Including Reinsurance Premium Paid	0
Total assets not carried at fair value	22,414	21,581
Liabilities
Derivative liabilities	19	17
Other liabilities	0	0
Total liabilities measured at fair value	19	17
Other Assets	0	0
Market Risk Benefit, Liability, Amount	0	0
Recurring | Level 1 | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	7,818	6,297
Trading securities	22	24
Equity securities	190	210
Mortgage loans	0	0
Derivative assets, fair value	121	108
Short-term investments	0	0
Other investments	0	0
Recurring | Level 1 | Related Party
Assets
Available-for-sale securities	0	0
Trading securities	0	0
Equity securities	0	63
Mortgage loans	0	0
Investment funds	0	0
Other investments	0	0
Reinsurance Recoverables, Including Reinsurance Premium Paid		0
Recurring | Level 1 | Variable Interest Entities
Assets
Trading securities	0	0
Mortgage loans	0	0
Investment funds	0	0
Other investments	4	0
Cash and cash equivalents	583	98
Recurring | Level 1 | Universal life
Liabilities
Policyholder Contract Deposit	0	0
Recurring | Level 1 | AmerUs Closed Block
Liabilities
Liability for Future Policy Benefit, before Reinsurance	0	0
Recurring | Level 1 | ILICO Closed Block and life benefits
Liabilities
Liability for Future Policy Benefit, before Reinsurance	0	0
Recurring | Level 1 | Embedded derivatives
Liabilities
Policyholder Contract Deposit	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 | US government and agencies | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	7,149	5,392
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	658	895
Recurring | Level 1 | Corporate | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	11	10
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 and Cash Equivalents	0	0
Reinsurance Recoverables, Including Reinsurance Premium Paid	0
Total assets not carried at fair value	155,457	131,131
Liabilities
Derivative liabilities	3,536	1,977
Other liabilities	0	(64)
Total liabilities measured at fair value	3,536	1,913
Other Assets	0	0
Market Risk Benefit, Liability, Amount	0	0
Recurring | Level 2 | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	136,411	118,247
Trading securities	1,539	1,654
Equity securities	1,073	699
Mortgage loans	0	0
Derivative assets, fair value	8,032	5,190
Short-term investments	86	236
Other investments	711	313
Recurring | Level 2 | Related Party
Assets
Available-for-sale securities	7,258	4,506
Trading securities	0	0
Equity securities	0	0
Mortgage loans	0	0
Investment funds	0	0
Other investments	0	0
Reinsurance Recoverables, Including Reinsurance Premium Paid		0
Recurring | Level 2 | Variable Interest Entities
Assets
Trading securities	347	284
Mortgage loans	0	0
Investment funds	0	0
Other investments	0	2
Cash and cash equivalents	0	0
Recurring | Level 2 | Universal life
Liabilities
Policyholder Contract Deposit	0	0
Recurring | Level 2 | AmerUs Closed Block
Liabilities
Liability for Future Policy Benefit, before Reinsurance	0	0
Recurring | Level 2 | ILICO Closed Block and life benefits
Liabilities
Liability for Future Policy Benefit, before Reinsurance	0	0
Recurring | Level 2 | Embedded derivatives
Liabilities
Policyholder Contract Deposit	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 | US government and agencies | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	2	7
Recurring | Level 2 | US state, municipal and political subdivisions | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	921	1,046
Recurring | Level 2 | Foreign governments | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	881	964
Recurring | Level 2 | Corporate | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	79,253	75,711
Recurring | Level 2 | Corporate | Related Party
Assets
Available-for-sale securities	1,029	181
Recurring | Level 2 | CLO | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	29,182	20,207
Recurring | Level 2 | CLO | Related Party
Assets
Available-for-sale securities	5,339	3,762
Recurring | Level 2 | ABS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	7,672	6,440
Recurring | Level 2 | ABS | Related Party
Assets
Available-for-sale securities	890	563
Recurring | Level 2 | CMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	10,741	6,570
Recurring | Level 2 | RMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	7,759	7,302
Recurring | Level 3
Assets
Cash and cash equivalents	0	0
Restricted Cash and Cash Equivalents	0	0
Reinsurance Recoverables, Including Reinsurance Premium Paid	1,661
Total assets not carried at fair value	104,661	70,748
Liabilities
Derivative liabilities	1	1
Other liabilities	225	330
Total liabilities measured at fair value	17,878	15,675
Other Assets	313	378
Market Risk Benefit, Liability, Amount	4,028	3,751
Recurring | Level 3 | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	21,135	9,794
Trading securities	22	28
Equity securities	27	26
Mortgage loans	63,239	44,115
Derivative assets, fair value	1	0
Short-term investments	169	105
Other investments	895	630
Recurring | Level 3 | Related Party
Assets
Available-for-sale securities	11,869	9,503
Trading securities	573	838
Equity securities	234	255
Mortgage loans	1,297	1,281
Investment funds	1,139	1,082
Other investments	331	343
Reinsurance Recoverables, Including Reinsurance Premium Paid		1,367
Recurring | Level 3 | Variable Interest Entities
Assets
Trading securities	1,954	1,852
Mortgage loans	2,579	2,173
Investment funds	770	977
Other investments	103	101
Cash and cash equivalents	0	0
Recurring | Level 3 | Universal life
Liabilities
Policyholder Contract Deposit	742	834
Recurring | Level 3 | AmerUs Closed Block
Liabilities
Liability for Future Policy Benefit, before Reinsurance	1,102	1,178
Recurring | Level 3 | ILICO Closed Block and life benefits
Liabilities
Liability for Future Policy Benefit, before Reinsurance	538	522
Recurring | Level 3 | Embedded derivatives
Liabilities
Policyholder Contract Deposit	11,242	9,059
Recurring | Level 3 | Embedded derivatives | Consolidated Entity, excluding Affiliated Entity
Assets
Funds withheld at interest		3,379
Recurring | Level 3 | Embedded derivatives | Related Party
Assets
Funds withheld at interest		(721)
Recurring | Level 3 | US 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	29	40
Recurring | Level 3 | Corporate | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	4,321	2,525
Recurring | Level 3 | Corporate | Related Party
Assets
Available-for-sale securities	1,432	1,171
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	696	506
Recurring | Level 3 | ABS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	16,529	6,943
Recurring | Level 3 | ABS | Related Party
Assets
Available-for-sale securities	9,741	7,826
Recurring | Level 3 | CMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	21
Recurring | Level 3 | RMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	256	265
Recurring | NAV
Assets
Investment funds	16,995
Cash and cash equivalents	0	0
Restricted Cash and Cash Equivalents	0	0
Reinsurance Recoverables, Including Reinsurance Premium Paid	0
Total assets not carried at fair value		14,950
Liabilities
Derivative liabilities	0	0
Other liabilities	0	0
Total liabilities measured at fair value	0	0
Other Assets	0	0
Market Risk Benefit, Liability, Amount	0	0
Recurring | NAV | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	0	0
Trading securities	0	0
Equity securities	0	0
Mortgage loans	0	0
Derivative assets, fair value	0	0
Short-term investments	0	0
Other investments	0	0
Recurring | NAV | Related Party
Assets
Available-for-sale securities	0	0
Trading securities	0	0
Equity securities	0	0
Mortgage loans	0	0
Investment funds	0	0
Other investments	0	0
Reinsurance Recoverables, Including Reinsurance Premium Paid		0
Recurring | NAV | Variable Interest Entities
Assets
Trading securities	0	0
Mortgage loans	0	0
Investment funds	16,995	14,950
Other investments	0	0
Cash and cash equivalents	0	0
Recurring | NAV | Universal life
Liabilities
Policyholder Contract Deposit	0	0
Recurring | NAV | AmerUs Closed Block
Liabilities
Liability for Future Policy Benefit, before Reinsurance	0	0
Recurring | NAV | ILICO Closed Block and life benefits
Liabilities
Liability for Future Policy Benefit, before Reinsurance	0	0
Recurring | NAV | Embedded derivatives
Liabilities
Policyholder Contract Deposit	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 | US 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
Total assets not carried at fair value	29,741	36,925
Liabilities
Policyholder Contract Deposit	192,025	146,038
Funds Held under Reinsurance Agreements, Liability	4,331	350
Fair Value | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	107	109
Funds withheld at interest	(21,901)	(27,738)
Short-term investments	192
Other investments	101	52
Fair Value | Related Party
Assets
Investment funds	714	550
Funds withheld at interest	(5,665)	(7,195)
Short-term investments	743	947
Fair Value | Level 1
Assets
Total assets not carried at fair value	0	0
Liabilities
Policyholder Contract Deposit	0	0
Funds Held under Reinsurance Agreements, Liability	0	0
Fair Value | Level 1 | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	0	0
Funds withheld at interest	0	0
Short-term investments	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	0
Fair Value | Level 2
Assets
Total assets not carried at fair value	1,061	1,281
Liabilities
Policyholder Contract Deposit	0	0
Funds Held under Reinsurance Agreements, Liability	0	350
Fair Value | Level 2 | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	0	0
Funds withheld at interest	0	0
Short-term investments	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	743	947
Fair Value | Level 3
Assets
Total assets not carried at fair value	27,859	34,985
Liabilities
Policyholder Contract Deposit	192,025	146,038
Funds Held under Reinsurance Agreements, Liability	4,331	0
Fair Value | Level 3 | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	0	0
Funds withheld at interest	(21,901)	(27,738)
Short-term investments	192
Other investments	101	52
Fair Value | Level 3 | Related Party
Assets
Investment funds	0	0
Funds withheld at interest	(5,665)	(7,195)
Short-term investments	0	0
Fair Value | NAV
Assets
Total assets not carried at fair value	821	659
Liabilities
Policyholder Contract Deposit	0	0
Funds Held under Reinsurance Agreements, Liability	0	0
Fair Value | NAV | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	107	109
Funds withheld at interest	0	0
Short-term investments	0
Other investments	0	0
Fair Value | NAV | Related Party
Assets
Investment funds	714	550
Funds withheld at interest	0	0
Short-term investments	0	0
Fair Value | Recurring
Assets
Cash and cash equivalents	12,733	13,020
Restricted Cash and Cash Equivalents	943	1,761
Reinsurance Recoverables, Including Reinsurance Premium Paid	1,661	1,367
Total assets not carried at fair value	299,527	238,410
Liabilities
Policyholder Contract Deposit	11,984	9,893
Liability for Future Policy Benefit, before Reinsurance	1,640	1,700
Derivative liabilities	3,556	1,995
Other liabilities	225
Total liabilities measured at fair value	21,433	17,605
Other Assets	313
Market Risk Benefit, Liability, Amount	4,028	3,751
Fair Value | Recurring | Related Party
Liabilities
Other Assets		378
Fair Value | Recurring | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities	165,364	134,338
Trading securities		1,706
Equity securities	1,290	935
Mortgage loans	63,239	44,115
Embedded derivative assets, fair value	(3,035)	(3,379)
Derivative assets, fair value	8,154	5,298
Short-term investments	255	341
Other investments	1,606	943
Fair Value | Recurring | Consolidated Entity, excluding Affiliated Entity | US government and agencies
Assets
Available-for-sale securities	7,151
Fair Value | Recurring | Consolidated Entity, excluding Affiliated Entity | US state, municipal and political subdivisions
Assets
Available-for-sale securities	921
Fair Value | Recurring | Consolidated Entity, excluding Affiliated Entity | Foreign governments
Assets
Available-for-sale securities	1,568
Fair Value | Recurring | Consolidated Entity, excluding Affiliated Entity | Corporate
Assets
Available-for-sale securities	83,585
Fair Value | Recurring | Consolidated Entity, excluding Affiliated Entity | CLO
Assets
Available-for-sale securities	29,182
Fair Value | Recurring | Consolidated Entity, excluding Affiliated Entity | ABS
Assets
Available-for-sale securities	24,201
Fair Value | Recurring | Consolidated Entity, excluding Affiliated Entity | CMBS
Assets
Available-for-sale securities	10,741
Fair Value | Recurring | Consolidated Entity, excluding Affiliated Entity | RMBS
Assets
Available-for-sale securities	8,015
Fair Value | Recurring | Related Party
Assets
Available-for-sale securities	19,127	14,009
Trading securities	573	838
Equity securities	234	318
Mortgage loans	1,297	1,281
Investment funds	1,139	1,082
Embedded derivative assets, fair value	(615)	(721)
Other investments	331	343
Fair Value | Recurring | Variable Interest Entities
Assets
Trading securities	2,301	2,136
Mortgage loans	2,579	2,173
Investment funds	17,765	15,927
Other investments	107	103
Cash and cash equivalents	583	98
Fair Value | Recurring | Universal life
Liabilities
Policyholder Contract Deposit	742	834
Fair Value | Recurring | AmerUs Closed Block
Liabilities
Liability for Future Policy Benefit, before Reinsurance	1,102	1,178
Fair Value | Recurring | ILICO Closed Block and life benefits
Liabilities
Liability for Future Policy Benefit, before Reinsurance	538	522
Fair Value | Recurring | Embedded derivatives
Liabilities
Policyholder Contract Deposit	11,242	9,059
Other liabilities		266
Fair Value | Recurring | Embedded derivatives | Consolidated Entity, excluding Affiliated Entity
Assets
Funds withheld at interest		(3,379)
Fair Value | Recurring | Embedded derivatives | Related Party
Assets
Funds withheld at interest		(721)
Fair Value | Recurring | US government and agencies | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities		5,399
Fair Value | Recurring | US state, municipal and political subdivisions | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities		1,046
Fair Value | Recurring | Foreign governments | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities		1,899
Fair Value | Recurring | Corporate | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities		78,246
Fair Value | Recurring | Corporate | Related Party
Assets
Available-for-sale securities	2,461	1,352
Fair Value | Recurring | CLO | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities		20,207
Fair Value | Recurring | CLO | Related Party
Assets
Available-for-sale securities	6,035	4,268
Fair Value | Recurring | ABS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities		13,383
Fair Value | Recurring | ABS | Related Party
Assets
Available-for-sale securities	10,631	8,389
Fair Value | Recurring | CMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities		6,591
Fair Value | Recurring | RMBS | Consolidated Entity, excluding Affiliated Entity
Assets
Available-for-sale securities		$ 7,567
Funds withheld at interest | Recurring | Level 1 | Consolidated Entity, excluding Affiliated Entity
Assets
Embedded derivative assets, fair value	0
Funds withheld at interest | Recurring | Level 1 | Related Party
Assets
Embedded derivative assets, fair value	0
Funds withheld at interest | Recurring | Level 2 | Consolidated Entity, excluding Affiliated Entity
Assets
Embedded derivative assets, fair value	0
Funds withheld at interest | Recurring | Level 2 | Related Party
Assets
Embedded derivative assets, fair value	0
Funds withheld at interest | Recurring | Level 3 | Consolidated Entity, excluding Affiliated Entity
Assets
Embedded derivative assets, fair value	(3,035)
Funds withheld at interest | Recurring | Level 3 | Related Party
Assets
Embedded derivative assets, fair value	(615)
Funds withheld at interest | Recurring | NAV | Consolidated Entity, excluding Affiliated Entity
Assets
Embedded derivative assets, fair value	0
Funds withheld at interest | Recurring | NAV | Related Party
Assets
Embedded derivative assets, fair value	0
Funds withheld at interest | Fair Value | Recurring | Consolidated Entity, excluding Affiliated Entity
Assets
Embedded derivative assets, fair value	3,035
Funds withheld at interest | Fair Value | Recurring | Related Party
Assets
Embedded derivative assets, fair value	$ 615

Fair Value - Fair Value Option

Fair Value - Fair Value Option (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Option, Quantitative Disclosures [Line Items]
Total gains (losses)	$ (338)	$ 203	$ (3,204)
Commercial Real Estate Portfolio Segment [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Mark to fair value	(2,099)	(2,246)
Residential Mortgage [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Mark to fair value	(540)	(937)
Mortgage loans
Fair Value, Option, Quantitative Disclosures [Line Items]
Total gains (losses)	(237)	183
Unpaid principal balance	69,754	50,752
Mark to fair value	(2,639)	(3,183)
Fair value	67,115	47,569
Fair Value, Option, Credit Risk, Gains (Losses) on Assets	(58)	(53)	(41)
Residential Mortgage [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option, loans, 90 days or more past due	847	479
Unpaid principal balance	898	528
Fair value	847	479
Fair Value, Option, Loans Held as Assets, Aggregate Difference	(51)	(49)
Fair Value, Option, Loans Held as Assets, Aggregate Amount in Nonaccrual Status	765	355
Residential Mortgage [Member] | 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	82	124
Mortgage loans, net of allowances
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value	93	147
Fair Value Option, Other Eligible Items
Fair Value, Option, Quantitative Disclosures [Line Items]
Total gains (losses)	28	(113)	(37)
Commercial Real Estate Portfolio Segment [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option, loans, 90 days or more past due	31	64
Unpaid principal balance	195	221
Fair Value, Option, Loans Held as Assets, Aggregate Difference	(102)	(74)
Fair Value, Option, Loans Held as Assets, Aggregate Amount in Nonaccrual Status	93	147
Investment related gains (losses) | Mortgage loans
Fair Value, Option, Quantitative Disclosures [Line Items]
Total gains (losses)			(3,213)
Investment related gains (losses) | Trading securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Total gains (losses)	(156)	66	(424)
Net investment income | Investment funds
Fair Value, Option, Quantitative Disclosures [Line Items]
Total gains (losses)	(49)	81	114
Future policy and other policy benefits | Future policy benefits
Fair Value, Option, Quantitative Disclosures [Line Items]
Total gains (losses)	$ 76	$ (14)	$ 356

Fair Value - Reconciliation of

Fair Value - Reconciliation of Level 3 Financial Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	$ 70,370	$ 45,582
Total realized and unrealized gains (losses) included in income	(24)	2,463
Total realized and unrealized gains (losses) included in OCI	(72)	195
Purchases, issuances, sales and settlements, net	35,753	23,752
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(1,679)	(1,622)
Transfers (Out)	(2,900)	(4,871)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	52,244	32,616
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	359	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	(1,364)	(1,233)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(15,486)	(7,631)
Transfer In	1,221	3,249
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issuances	(3,010)	(2,431)
Sales	0	0
Settlements	1,055	581
Transfers In	(64)	0
Ending balance	104,348	70,370
Total gains (losses) included in earnings	(411)	314
Beginning balance	(11,924)	(8,525)
Total realized and unrealized gains (losses) included in income	(35)	(1,549)
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	1,955	1,850
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	(64)	0
Transfers (Out)	0	0
Ending balance	(13,850)	(11,924)
Total gains (losses) included in earnings	0	0
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	(72)	$ 151
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Net income (loss)
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Net Income (Loss) Available to Common Stockholders, Basic
FairValueRecurringBasisUnobservableInputReconciliationAssetGainLossStatementOfOtherComprehensiveIncomeExtensibleListNotDisclosedFlag		Included in OCI
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]		Net income (loss)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Net income (loss)
Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ending balance	(225)
Reinsurance recoverable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	1,367	$ 1,388
Total realized and unrealized gains (losses) included in income	(61)	(21)
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	355	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Transfers (Out)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	359
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(4)
Transfer In	0
Ending balance	1,661	1,367
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Reinsurance recoverable | Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases, issuances, sales and settlements, net	355
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0
Short-term Investments | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	105	36
Total realized and unrealized gains (losses) included in income	(1)	0
Total realized and unrealized gains (losses) included in OCI	(1)	(3)
Purchases, issuances, sales and settlements, net	145	69
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(79)	3
Ending balance	169	105
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	(1)	0
Short-term Investments | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	105
Purchases, issuances, sales and settlements, net	145	69
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(79)	3
Transfers (Out)	(79)	(23)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	172	100
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	(6)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(21)	(31)
Transfer In	0	26
Ending balance		105
Equity securities | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	26	92
Total realized and unrealized gains (losses) included in income	0	(8)
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	1	(45)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	(13)
Ending balance		26
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Equity securities | Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	255	279
Total realized and unrealized gains (losses) included in income	(16)	8
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	(5)	(32)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	(5)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	0	(32)
Transfer In	0	0
Ending balance		255
Total gains (losses) included in earnings	(15)	7
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Equity securities | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	26
Purchases, issuances, sales and settlements, net		(45)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		(13)
Transfers (Out)	(9)	(13)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	2	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	(1)	(45)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	0	0
Transfer In	9	0
Ending balance		26
Mortgage loans | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	44,115	27,454
Total realized and unrealized gains (losses) included in income	(192)	183
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	19,316	16,478
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Ending balance	63,239	44,115
Total gains (losses) included in earnings	(145)	184
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Mortgage loans | Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	1,281	1,302
Total realized and unrealized gains (losses) included in income	17	9
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	(1)	(30)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	87	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(88)	(30)
Transfer In	0	0
Ending balance	1,297	1,281
Total gains (losses) included in earnings	17	8
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Mortgage loans | Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	2,173	2,055
Total realized and unrealized gains (losses) included in income	(62)	(9)
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	468	127
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	579	203
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(111)	(76)
Transfer In	0	0
Ending balance	2,579	2,173
Total gains (losses) included in earnings	(64)	(9)
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Mortgage loans | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	44,115
Purchases, issuances, sales and settlements, net	19,316	16,478
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	27,596	21,018
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	(106)	(529)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(8,174)	(4,011)
Transfer In	0	0
Ending balance		44,115
Investment funds | Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	1,082	959
Total realized and unrealized gains (losses) included in income	(49)	91
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	106	32
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	106	32
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	0	0
Transfer In	0	0
Ending balance		1,082
Total gains (losses) included in earnings	(49)	91
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Investment funds | Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	977	2,471
Total realized and unrealized gains (losses) included in income	(68)	(30)
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	331	73
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(470)	(1,537)
Transfers (Out)	(470)	(2,012)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	341	113
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	(10)	(40)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	0	0
Transfer In	0	475
Ending balance		977
Total gains (losses) included in earnings	(16)	(31)
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Other investments | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	630	441
Total realized and unrealized gains (losses) included in income	(24)	0
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	289	189
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Ending balance	895	630
Total gains (losses) included in earnings	(6)	(3)
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Other investments | Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	343	303
Total realized and unrealized gains (losses) included in income	(12)	(2)
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	0	42
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Transfers (Out)		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases		42
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements		0
Transfer In		0
Ending balance	331	343
Total gains (losses) included in earnings	(12)	(3)
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Other investments | Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	101	99
Total realized and unrealized gains (losses) included in income	(10)	9
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	32	(7)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(20)	0
Transfers (Out)	(20)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	56	14
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	(24)	(21)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	0	0
Transfer In	0	0
Ending balance	103	101
Total gains (losses) included in earnings	(9)	9
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Other investments | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	630
Purchases, issuances, sales and settlements, net	289	189
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	289	620
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	0	(431)
Transfer In	0	0
Ending balance		630
Trading securities | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	28	53
Total realized and unrealized gains (losses) included in income	1	2
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	(21)	(16)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	14	(11)
Ending balance		28
Total gains (losses) included in earnings	(1)	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Trading securities | Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	838	878
Total realized and unrealized gains (losses) included in income	(1)	12
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	(264)	(52)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	4	66
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	0	(38)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(268)	(80)
Transfer In	0	0
Ending balance		838
Total gains (losses) included in earnings	(3)	8
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Trading securities | Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	1,852	622
Total realized and unrealized gains (losses) included in income	(80)	47
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	209	(148)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(27)	1,331
Transfers (Out)	(88)	(31)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	394	40
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	(178)	(188)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(7)	0
Transfer In	61	1,362
Ending balance		1,852
Total gains (losses) included in earnings	(87)	47
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Trading securities | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	28
Purchases, issuances, sales and settlements, net		(16)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		(11)
Transfers (Out)	0	(16)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	0	8
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(21)	(24)
Transfer In	14	5
Ending balance		28
RMBS | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	265	232
Total realized and unrealized gains (losses) included in income	8	8
Total realized and unrealized gains (losses) included in OCI	0	4
Purchases, issuances, sales and settlements, net	83	256
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(100)	(235)
Ending balance		265
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	(1)	2
RMBS | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	265
Purchases, issuances, sales and settlements, net		256
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		(235)
Transfers (Out)	(100)	(240)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	99	262
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(16)	(6)
Transfer In	0	5
Ending balance		265
Foreign governments | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	40	1
Total realized and unrealized gains (losses) included in income	0	0
Total realized and unrealized gains (losses) included in OCI	1	(2)
Purchases, issuances, sales and settlements, net	(12)	41
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Ending balance		40
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	1	(2)
Foreign governments | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	40
Transfers (Out)		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases		53
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements		(12)
Transfer In		0
Ending balance		40
Corporate | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	2,525	1,665
Total realized and unrealized gains (losses) included in income	(20)	(21)
Total realized and unrealized gains (losses) included in OCI	36	45
Purchases, issuances, sales and settlements, net	2,815	1,298
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(1,035)	(462)
Ending balance		2,525
Total gains (losses) included in earnings	(18)	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	38	21
Corporate | Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	1,171	812
Total realized and unrealized gains (losses) included in income	(2)	3
Total realized and unrealized gains (losses) included in OCI	24	(32)
Purchases, issuances, sales and settlements, net	38	173
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	201	215
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	113	184
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	(66)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(9)	(11)
Transfer In	201	215
Ending balance		1,171
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	21	(32)
Corporate | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	2,525
Purchases, issuances, sales and settlements, net		1,298
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		(462)
Transfers (Out)	(1,201)	(491)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	3,146	1,704
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	(41)	(177)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(290)	(229)
Transfer In	166	29
Ending balance		2,525
CLO | Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	506	303
Total realized and unrealized gains (losses) included in income		0
Total realized and unrealized gains (losses) included in OCI		18
Purchases, issuances, sales and settlements, net		185
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		0
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	177	185
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	0	0
Transfer In	0	0
Ending balance		506
Total gains (losses) included in earnings		0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI		18
ABS | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	6,943	4,867
Total realized and unrealized gains (losses) included in income	47	(9)
Total realized and unrealized gains (losses) included in OCI	(128)	61
Purchases, issuances, sales and settlements, net	9,812	3,241
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(145)	(1,217)
Ending balance		6,943
Total gains (losses) included in earnings	(3)	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	(130)	45
ABS | Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	7,826	5,542
Total realized and unrealized gains (losses) included in income	48	19
Total realized and unrealized gains (losses) included in OCI	(12)	103
Purchases, issuances, sales and settlements, net	1,879	1,878
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	284
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	7,197	3,751
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	(504)	(162)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(4,814)	(1,711)
Transfer In	0	284
Ending balance		7,826
Total gains (losses) included in earnings	0	6
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	(14)	96
ABS | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	6,943
Purchases, issuances, sales and settlements, net		3,241
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		(1,217)
Transfers (Out)	(914)	(2,045)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	11,886	4,221
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	(423)	(33)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(1,651)	(947)
Transfer In	769	828
Ending balance		6,943
CMBS | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	21	0
Total realized and unrealized gains (losses) included in income	3	0
Total realized and unrealized gains (losses) included in OCI	(5)	1
Purchases, issuances, sales and settlements, net	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(19)	20
Ending balance		21
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	3
CMBS | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	21
Purchases, issuances, sales and settlements, net		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		20
Transfers (Out)	(19)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	0	0
Transfer In	0	20
Ending balance		21
Collateralized Loan Obligations | Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	506
Total realized and unrealized gains (losses) included in income	0
Total realized and unrealized gains (losses) included in OCI	13
Purchases, issuances, sales and settlements, net	177
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0
Ending balance		506
Total gains (losses) included in earnings	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	14
Derivative Financial Instruments, Assets | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
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	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	1
Ending balance	1	0
Total gains (losses) included in earnings	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
Derivative Financial Instruments, Assets | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases, issuances, sales and settlements, net	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	1
Transfers (Out)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	0
Transfer In	1
Equity securities | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ending balance	27
Equity securities | Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases, issuances, sales and settlements, net	(5)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0
Ending balance	234
Equity securities | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases, issuances, sales and settlements, net	1
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0
Trading securities | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ending balance	22
Trading securities | Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases, issuances, sales and settlements, net	(264)	(52)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Ending balance	573
Trading securities | Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases, issuances, sales and settlements, net	209
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(27)
Ending balance	1,954
Trading securities | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases, issuances, sales and settlements, net	(21)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	14
Investment funds | Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ending balance	1,139
Investment funds | Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases, issuances, sales and settlements, net	331
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(470)
Ending balance	770
Embedded derivatives | Funds withheld at interest | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	(3,379)	(4,847)
Total realized and unrealized gains (losses) included in income	344	1,468
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Ending balance	(3,035)	(3,379)
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Embedded derivatives | Funds withheld at interest | Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	(721)	(1,425)
Total realized and unrealized gains (losses) included in income	106	704
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Ending balance	(615)	(721)
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Embedded derivatives | Funds withheld at interest | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	(3,379)
Ending balance		(3,379)
RMBS | Foreign currency forwards | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ending balance	256
RMBS | Foreign currency forwards | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases, issuances, sales and settlements, net	83
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(100)
ABS | Foreign currency forwards | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ending balance	16,529
ABS | Foreign currency forwards | Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases, issuances, sales and settlements, net	1,879
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0
Ending balance	9,741
ABS | Foreign currency forwards | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases, issuances, sales and settlements, net	9,812
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(145)
CLO | Foreign currency forwards | Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases, issuances, sales and settlements, net	177
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0
Ending balance	696
Corporate | Foreign currency forwards | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ending balance	4,321
Corporate | Foreign currency forwards | Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases, issuances, sales and settlements, net	38
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	201
Ending balance	1,432
Corporate | Foreign currency forwards | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases, issuances, sales and settlements, net	2,815
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(1,035)
CMBS | Foreign currency forwards | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ending balance	0
CMBS | Foreign currency forwards | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases, issuances, sales and settlements, net	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(19)
Foreign governments | Foreign currency forwards | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ending balance	29
Foreign governments | Foreign currency forwards | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases, issuances, sales and settlements, net		41
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		0
Derivative liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	(1)	(1)
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
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0
Ending balance	(1)	(1)
Total gains (losses) included in earnings	0	0
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Interest sensitive contract liabilities | Embedded derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issuances	(3,010)	(2,431)
Sales	0	0
Settlements	1,001	656
Transfers In	0	0
Beginning balance	(9,059)	(5,841)
Total realized and unrealized gains (losses) included in income	(174)	(1,443)
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	2,009	1,775
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0
Transfers (Out)	0	0
Ending balance	(11,242)	(9,059)
Total gains (losses) included in earnings	0	0
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issuances	0	0
Sales	0	0
Settlements	54	(75)
Transfers In	(64)	0
Beginning balance	(330)	(142)
Total realized and unrealized gains (losses) included in income	(13)	(113)
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	(54)	75
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	64	0
Transfers (Out)	0	0
Ending balance		(330)
Total gains (losses) included in earnings	0	0
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
Universal Life | Interest sensitive contract liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	(834)	(829)
Total realized and unrealized gains (losses) included in income	92	(5)
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0
Ending balance	(742)	(834)
Total gains (losses) included in earnings	0	0
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
AmerUs Closed Block | Future policy benefits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	(1,178)	(1,164)
Total realized and unrealized gains (losses) included in income	76	(14)
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0
Ending balance	(1,102)	(1,178)
Total gains (losses) included in earnings	0	0
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0	0
ILICO Closed Block and life benefits | Future policy benefits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	(522)	(548)
Total realized and unrealized gains (losses) included in income	(16)	26
Total realized and unrealized gains (losses) included in OCI	0	0
Purchases, issuances, sales and settlements, net	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0
Ending balance	(538)	(522)
Total gains (losses) included in earnings	0	0
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	$ 0	$ 0

Fair Value - Gross Components o

Fair Value - Gross Components of Purchases, Sales, Issuances and Settlements, net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	$ 52,244	$ 32,616
Sales	(1,364)	(1,233)
Settlements	(15,486)	(7,631)
Purchases, (Sales), Issuances, (Settlements)	35,753	23,752
Purchases	0	0
Issuances	(3,010)	(2,431)
Sales	0	0
Settlements	1,055	581
Purchases, (Sales), Issuances, (Settlements), Liabilities	(1,955)	(1,850)
Transfer In	1,221	3,249
Transfers (Out)	(2,900)	(4,871)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(1,679)	(1,622)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	(64)	0
Transfers In	64	0
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	359	0
Trading securities | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	(264)	(52)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Trading securities | Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	209
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(27)
Trading securities | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	(21)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	14
Equity securities | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	(5)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0
Equity securities | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	1
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0
Investment funds | Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	331
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(470)
Foreign governments | Foreign currency forwards | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)		41
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		0
Corporate | Foreign currency forwards | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	38
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	201
Corporate | Foreign currency forwards | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	2,815
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(1,035)
CLO | Foreign currency forwards | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	177
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0
ABS | Foreign currency forwards | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	1,879
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0
ABS | Foreign currency forwards | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	9,812
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(145)
RMBS | Foreign currency forwards | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	83
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(100)
CMBS | Foreign currency forwards | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(19)
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)	19,316	16,478
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Mortgage loans | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	87	0
Sales	0	0
Settlements	(88)	(30)
Purchases, (Sales), Issuances, (Settlements)	(1)	(30)
Transfer In	0	0
Transfers (Out)	0	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, Issuances	0	0
Mortgage loans | Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	579	203
Sales	0	0
Settlements	(111)	(76)
Purchases, (Sales), Issuances, (Settlements)	468	127
Transfer In	0	0
Transfers (Out)	0	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, Issuances	0	0
Mortgage loans | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	27,596	21,018
Sales	(106)	(529)
Settlements	(8,174)	(4,011)
Purchases, (Sales), Issuances, (Settlements)	19,316	16,478
Transfer In	0	0
Transfers (Out)	0	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, Issuances	0	0
Reinsurance recoverable
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	0
Sales	0
Settlements	(4)
Purchases, (Sales), Issuances, (Settlements)	355	0
Transfer In	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, Issuances	359
Reinsurance recoverable | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	355
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0
Investment funds | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	106	32
Sales	0	0
Settlements	0	0
Purchases, (Sales), Issuances, (Settlements)	106	32
Transfer In	0	0
Transfers (Out)	0	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, Issuances	0	0
Investment funds | Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	341	113
Sales	(10)	(40)
Settlements	0	0
Purchases, (Sales), Issuances, (Settlements)	331	73
Transfer In	0	475
Transfers (Out)	(470)	(2,012)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(470)	(1,537)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	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)	145	69
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(79)	3
Short-term Investments | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	172	100
Sales	(6)	0
Settlements	(21)	(31)
Purchases, (Sales), Issuances, (Settlements)	145	69
Transfer In	0	26
Transfers (Out)	(79)	(23)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(79)	3
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Other investments | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	289	189
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Other investments | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases		42
Sales		0
Settlements		0
Purchases, (Sales), Issuances, (Settlements)	0	42
Transfer In		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, Issuances		0
Other investments | Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	56	14
Sales	(24)	(21)
Settlements	0	0
Purchases, (Sales), Issuances, (Settlements)	32	(7)
Transfer In	0	0
Transfers (Out)	(20)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(20)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Other investments | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	289	620
Sales	0	0
Settlements	0	(431)
Purchases, (Sales), Issuances, (Settlements)	289	189
Transfer In	0	0
Transfers (Out)	0	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, Issuances	0	0
ABS | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	9,812	3,241
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(145)	(1,217)
ABS | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	7,197	3,751
Sales	(504)	(162)
Settlements	(4,814)	(1,711)
Purchases, (Sales), Issuances, (Settlements)	1,879	1,878
Transfer In	0	284
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	284
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
ABS | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	11,886	4,221
Sales	(423)	(33)
Settlements	(1,651)	(947)
Purchases, (Sales), Issuances, (Settlements)		3,241
Transfer In	769	828
Transfers (Out)	(914)	(2,045)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		(1,217)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	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)	1	(45)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	(13)
Equity securities | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	0	0
Sales	(5)	0
Settlements	0	(32)
Purchases, (Sales), Issuances, (Settlements)	(5)	(32)
Transfer In	0	0
Transfers (Out)	0	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, Issuances	0	0
Equity securities | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	2	0
Sales	(1)	(45)
Settlements	0	0
Purchases, (Sales), Issuances, (Settlements)		(45)
Transfer In	9	0
Transfers (Out)	(9)	(13)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		(13)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Corporate | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	2,815	1,298
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(1,035)	(462)
Corporate | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	113	184
Sales	(66)	0
Settlements	(9)	(11)
Purchases, (Sales), Issuances, (Settlements)	38	173
Transfer In	201	215
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	201	215
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Corporate | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	3,146	1,704
Sales	(41)	(177)
Settlements	(290)	(229)
Purchases, (Sales), Issuances, (Settlements)		1,298
Transfer In	166	29
Transfers (Out)	(1,201)	(491)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		(462)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
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)	(21)	(16)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	14	(11)
Trading securities | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	4	66
Sales	0	(38)
Settlements	(268)	(80)
Purchases, (Sales), Issuances, (Settlements)	(264)	(52)
Transfer In	0	0
Transfers (Out)	0	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, Issuances	0	0
Trading securities | Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	394	40
Sales	(178)	(188)
Settlements	(7)	0
Purchases, (Sales), Issuances, (Settlements)	209	(148)
Transfer In	61	1,362
Transfers (Out)	(88)	(31)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(27)	1,331
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Trading securities | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	0	8
Sales	0	0
Settlements	(21)	(24)
Purchases, (Sales), Issuances, (Settlements)		(16)
Transfer In	14	5
Transfers (Out)	0	(16)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		(11)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Foreign governments | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	0
Sales	0
Settlements	(12)
Transfer In	0
Transfers (Out)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	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
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(19)	20
CMBS | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	0	0
Sales	0	0
Settlements	0	0
Purchases, (Sales), Issuances, (Settlements)		0
Transfer In	0	20
Transfers (Out)	(19)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		20
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
RMBS | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	83	256
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(100)	(235)
RMBS | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	99	262
Sales	0	0
Settlements	(16)	(6)
Purchases, (Sales), Issuances, (Settlements)		256
Transfer In	0	5
Transfers (Out)	(100)	(240)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		(235)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Derivative Financial Instruments, Assets | Consolidated Entity, excluding Affiliated Entity
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	1
Derivative Financial Instruments, Assets | Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	0
Sales	0
Settlements	0
Purchases, (Sales), Issuances, (Settlements)	0
Transfer In	1
Transfers (Out)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	1
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0
CLO | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	177	185
Sales	0	0
Settlements	0	0
Purchases, (Sales), Issuances, (Settlements)		185
Transfer In	0	0
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Investments, excluding investments in related party | Foreign governments | Foreign currency forwards
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	(12)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0
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
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
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
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Interest sensitive contract liabilities | Embedded derivatives
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	0	0
Issuances	(3,010)	(2,431)
Sales	0	0
Settlements	1,001	656
Purchases, (Sales), Issuances, (Settlements), Liabilities	(2,009)	(1,775)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0
Transfers In	0	0
Transfers (Out)	0	0
Derivative 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
Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	54	(75)
Purchases, (Sales), Issuances, (Settlements), Liabilities	54	(75)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	64	0
Transfers In	64	0
Transfers (Out)	$ 0	$ 0

Fair Value - Summary of Unobser

Fair Value - Summary of Unobservable Inputs (Details) $ in Millions	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value Unobservable Inputs
Available-for-sale securities	$ 184,491	$ 148,347
Investment funds	19,725	17,668
Level 3
Fair Value Unobservable Inputs
Available-for-Sale Debt securities, Trading securities, and Equity securities	28,774	14,247
Mortgage loans	67,115	47,569
Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Unobservable Inputs
Investment funds	1,909	1,574
Level 3 | Net tangible asset values
Fair Value Unobservable Inputs
Investment funds		483
Interest sensitive contract liabilities | Embedded derivatives | Level 3
Fair Value Unobservable Inputs
Total liabilities measured at fair value	$ 11,242	$ 9,059
Measurement Input, Entity Credit Risk [Member] | Minimum
Fair Value Unobservable Inputs
Embedded Derivative Liability, Measurement Input	0.004	0.004
Measurement Input, Entity Credit Risk [Member] | Maximum
Fair Value Unobservable Inputs
Embedded Derivative Liability, Measurement Input	0.011	0.014
Measurement Input, Entity Credit Risk [Member] | Weighted Average
Fair Value Unobservable Inputs
Embedded Derivative Liability, Measurement Input	0.007	0.009
Measurement Input, Option Volatility [Member] | Minimum
Fair Value Unobservable Inputs
Embedded Derivative Liability, Measurement Input	0.005	0.005
Measurement Input, Option Volatility [Member] | Maximum
Fair Value Unobservable Inputs
Embedded Derivative Liability, Measurement Input	0.060	0.060
Measurement Input, Option Volatility [Member] | Weighted Average
Fair Value Unobservable Inputs
Embedded Derivative Liability, Measurement Input	0.028	0.023
Measurement Input, Withdrawal Rate [Member] | Minimum
Fair Value Unobservable Inputs
Embedded Derivative Liability, Measurement Input	0.060	0.060
Measurement Input, Withdrawal Rate [Member] | Maximum
Fair Value Unobservable Inputs
Embedded Derivative Liability, Measurement Input	0.142	0.134
Measurement Input, Withdrawal Rate [Member] | Weighted Average
Fair Value Unobservable Inputs
Embedded Derivative Liability, Measurement Input	0.090	0.087
Discount rate | Minimum
Fair Value Unobservable Inputs
Measurement Input for Available-for-Sale Debt securities, Trading securities, and Equity securities	0.047	0.023
Mortgage loans, Measurement Input	0.018	0.025
Investment funds, measurement input	0.066	0.063
Discount rate | Maximum
Fair Value Unobservable Inputs
Measurement Input for Available-for-Sale Debt securities, Trading securities, and Equity securities	0.200	0.181
Mortgage loans, Measurement Input	0.431	0.206
Investment funds, measurement input	0.140	0.135
Discount rate | Weighted Average
Fair Value Unobservable Inputs
Measurement Input for Available-for-Sale Debt securities, Trading securities, and Equity securities	0.071	0.070
Mortgage loans, Measurement Input	0.067	0.068
Investment funds, measurement input	0.108	0.112
Measurement Input, Implied Multiple | Minimum
Fair Value Unobservable Inputs
Investment funds, measurement input		1.14
Measurement Input, Implied Multiple | Maximum
Fair Value Unobservable Inputs
Investment funds, measurement input		1.14
Measurement Input, Implied Multiple | Weighted Average
Fair Value Unobservable Inputs
Investment funds, measurement input		1.14

Fair Value - Equity Securities

Fair Value - Equity Securities Without a Readily Determinable Fair Value (Details) $ in Millions	Dec. 31, 2023 USD ($)
Fair Value Disclosures [Abstract]
Equity Securities without Readily Determinable Fair Value, Amount	$ 358
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Cumulative Amount	$ (42)

Fair Value - Financial Instrume

Fair Value - Financial Instruments Not Carried at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Assets
Investment funds	$ 19,725	$ 17,668
Liabilities
Policyholder Contract Deposit	253,637	204,670	$ 173,616
Long-term Debt	6,309	4,209
Consolidated Entity, excluding Affiliated Entity
Assets
Mortgage loans	63,239	44,115
Investment funds	107	109
Policy Loans	318	334
Funds withheld at interest	18,866	24,359
Other investments	2,915	1,206
Short-term investments	447	341
Related Party
Assets
Mortgage loans	1,297	1,281
Investment funds	1,853	1,632
Funds withheld at interest	5,050	6,474
Other investments	331	343
Short-term investments	743	947
Liabilities
Policyholder Contract Deposit	6,678	8,599
Variable Interest Entities
Assets
Mortgage loans	2,579	2,173
Investment funds	17,765	15,927
Other investments	884	103
Carrying Value
Assets
Total assets not carried at fair value	29,733	36,919
Liabilities
Policyholder Contract Deposit	200,278	154,095
Long-term Debt	6,309	4,209
Payables for collateral on derivatives and securities to repurchase	5,716	3,853
Funds Held under Reinsurance Agreements, Liability	4,331	350
Total liabilities not carried at fair value	216,634	162,507
Carrying Value | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	107	109
Policy Loans	318	334
Funds withheld at interest	21,901	27,738
Other investments	93	46
Short-term investments	192
Carrying Value | Related Party
Assets
Investment funds	714	550
Funds withheld at interest	5,665	7,195
Short-term investments	743	947
Fair Value
Assets
Total assets not carried at fair value	29,741	36,925
Liabilities
Policyholder Contract Deposit	192,025	146,038
Long-term Debt	5,844	3,660
Payables for collateral on derivatives and securities to repurchase	5,716	3,853
Funds Held under Reinsurance Agreements, Liability	4,331	350
Total liabilities not carried at fair value	207,916	153,901
Fair Value | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	107	109
Policy Loans	318	334
Funds withheld at interest	21,901	27,738
Other investments	101	52
Short-term investments	192
Fair Value | Related Party
Assets
Investment funds	714	550
Funds withheld at interest	5,665	7,195
Short-term investments	743	947
NAV | Fair Value
Assets
Total assets not carried at fair value	821	659
Liabilities
Policyholder Contract Deposit	0	0
Long-term Debt	0	0
Payables for collateral on derivatives and securities to repurchase	0	0
Funds Held under Reinsurance Agreements, Liability	0	0
Total liabilities not carried at fair value	0	0
NAV | Fair Value | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	107	109
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	714	550
Funds withheld at interest	0	0
Short-term investments	0	0
Level 1 | Fair Value
Assets
Total assets not carried at fair value	0	0
Liabilities
Policyholder Contract Deposit	0	0
Long-term Debt	581	0
Payables for collateral on derivatives and securities to repurchase	0	0
Funds Held under Reinsurance Agreements, Liability	0	0
Total liabilities not carried at fair value	581	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
Short-term investments	0
Level 1 | Fair Value | Related Party
Assets
Investment funds	0	0
Funds withheld at interest	0	0
Short-term investments	0	0
Level 2 | Fair Value
Assets
Total assets not carried at fair value	1,061	1,281
Liabilities
Policyholder Contract Deposit	0	0
Long-term Debt	5,263	3,660
Payables for collateral on derivatives and securities to repurchase	5,716	3,853
Funds Held under Reinsurance Agreements, Liability	0	350
Total liabilities not carried at fair value	10,979	7,863
Level 2 | Fair Value | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	0	0
Policy Loans	318	334
Funds withheld at interest	0	0
Other investments	0	0
Short-term investments	0
Level 2 | Fair Value | Related Party
Assets
Investment funds	0	0
Funds withheld at interest	0	0
Short-term investments	743	947
Level 3
Assets
Mortgage loans	67,115	47,569
Level 3 | Fair Value
Assets
Total assets not carried at fair value	27,859	34,985
Liabilities
Policyholder Contract Deposit	192,025	146,038
Long-term Debt	0	0
Payables for collateral on derivatives and securities to repurchase	0	0
Funds Held under Reinsurance Agreements, Liability	4,331	0
Total liabilities not carried at fair value	196,356	146,038
Level 3 | Fair Value | Consolidated Entity, excluding Affiliated Entity
Assets
Investment funds	0	0
Policy Loans	0	0
Funds withheld at interest	21,901	27,738
Other investments	101	52
Short-term investments	192
Level 3 | Fair Value | Related Party
Assets
Investment funds	0	0
Funds withheld at interest	5,665	7,195
Short-term investments	$ 0	$ 0

Fair Value - Narrative (Details

Fair Value - Narrative (Details) $ in Millions	3 Months Ended
	Dec. 31, 2023 USD ($)
Fair Value Measurement Inputs
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount	$ 42
Equity Securities without Readily Determinable Fair Value, Amount	358
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Cumulative Amount	$ 42

Reinsurance Reinsurance - Premi

Reinsurance Reinsurance - Premiums and future policy benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Premiums
Direct	$ 1,089	$ 10,525	$ 11,373
Reinsurance assumed	313	2,313	377
Reinsurance ceded	(84)	(89)	(112)
Total premiums	1,318	12,749	11,638
Future policy and other policy benefits
Direct	2,779	12,321	12,142
Reinsurance assumed	550	2,389	416
Reinsurance ceded	(275)	(276)	(93)
Total future policy and other policy benefits	$ 3,054	$ 14,434	$ 12,465

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Protective
Effects of Reinsurance [Line Items]
Assets held-in-trust	$ 1,107	$ 1,213
Minimum
Effects of Reinsurance [Line Items]
Assets held-in-trust	26,100	21,600
Minimum | Global Atlantic
Effects of Reinsurance [Line Items]
Assets held-in-trust	$ 2,502	$ 2,542

Reinsurance Reinsurance - Trans

Reinsurance Reinsurance - Transactions (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Effects of Reinsurance [Line Items]
Liabilities	$ 337,469	$ 279,344
Assets	363,343	300,579
Policyholder Contract Deposit	253,637	204,670	$ 173,616
Future policy benefits	(49,902)	$ (53,287)	$ (42,110)
Reinsurance agreement
Effects of Reinsurance [Line Items]
Liabilities	1,975
Assets	2,158
Future policy benefits	$ (183)

Reinsurance - Schedule of Novat

Reinsurance - Schedule of Novated Balances (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Insurance [Abstract]
Policyholder Contract Deposit	$ 253,637	$ 204,670	$ 173,616
Liability for Future Policy Benefit, before Reinsurance	49,902	53,287	$ 42,110
Reinsurance Recoverables, Including Reinsurance Premium Paid	8,194	4,154
Other Assets	$ 11,253	$ 10,179

Reinsurance - Ceded Credit Risk

Reinsurance - Ceded Credit Risk (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Ceded Credit Risk [Line Items]
Reinsurance Recoverables, Including Reinsurance Premium Paid	$ 8,194	$ 4,154
Global Atlantic
Ceded Credit Risk [Line Items]
Reinsurance Recoverables, Including Reinsurance Premium Paid	2,328	2,435
Protective
Ceded Credit Risk [Line Items]
Reinsurance Recoverables, Including Reinsurance Premium Paid	1,435	1,559
Other
Ceded Credit Risk [Line Items]
Reinsurance Recoverables, Including Reinsurance Premium Paid	122	160
Catalina
Ceded Credit Risk [Line Items]
Reinsurance Recoverables, Including Reinsurance Premium Paid	$ 4,309	$ 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	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
VOBA
Beginning balance	$ 2,581	$ 2,988	$ 3,372
Additions	0	0	0
Amortization	(371)	(404)	(384)
Ending balance	2,210	2,581	2,988
Total
Beginning balance	5,979	4,466	3,372
Additions	2,137	2,204	1,538
Amortization	(941)	(688)	(444)
Ending balance	7,173	5,979	4,466
Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Present Value of Future Profits	7,173	5,979	4,466
Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Present Value of Future Profits, Foreign Currency Translation Gain (Loss) and Other	(2)	(3)
Reinsurance Recoverables, Including Reinsurance Premium Paid	8,194	4,154
Present Value of Future Insurance Profits, Foreign Currency Translation Gain (Loss)	0	(3)
Deferred Fixed Annuity
DAC
Beginning balance	890	304	0
Additions	519	701	320
Deferred Policy Acquisition Costs, Amortization Expense	(249)	(115)	(16)
Deferred Policy Acquisition Cost, Foreign Currency Translation Adjustment and Other	(2)	0
Ending balance	1,158	890	304
Indexed Annuity
DAC
Beginning balance	1,517	755	0
Additions	945	863	784
Deferred Policy Acquisition Costs, Amortization Expense	(184)	(101)	(29)
Deferred Policy Acquisition Cost, Foreign Currency Translation Adjustment and Other	0	0
Ending balance	2,278	1,517	755
DSI
Beginning balance	970	399	0
Additions	630	634	411
Amortization	(124)	(63)	(12)
Other	0	0
Ending balance	1,476	970	399
Funding Agreements
DAC
Beginning balance	10	11	0
Additions	42	3	14
Deferred Policy Acquisition Costs, Amortization Expense	(12)	(4)	(3)
Deferred Policy Acquisition Cost, Foreign Currency Translation Adjustment and Other	0	0
Ending balance	40	10	11
Other Investment Types
DAC
Beginning balance	11	9	0
Additions	1	3	9
Deferred Policy Acquisition Costs, Amortization Expense	(1)	(1)	0
Deferred Policy Acquisition Cost, Foreign Currency Translation Adjustment and Other	0	0
Ending balance	$ 11	$ 11	$ 9

Deferred Acquisition Costs, D_4

Deferred Acquisition Costs, Deferred Sales Inducements, and Value of Business Acquired - Expected Amortization of VOBA (Details) $ in Millions	Dec. 31, 2024 USD ($)
Insurance [Abstract]
2025	$ 295
2026	261
2027	227
2028	194
2029	$ 167

Long-duration Contracts - Polic

Long-duration Contracts - Policyholder Account Balance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2022
Policyholder Account Balance [Roll Forward]
Policyholder Account Balance	$ 247,320	$ 197,889	$ 168,339	$ 151,390
Deposits	72,026	54,304	35,341
Policy Charges	(711)	(653)	(603)
Surrenders and Withdrawals	(18,217)	(21,332)	(14,373)
Benefit Payments	(11,204)	(6,141)	(5,698)
Interest credited	8,692	4,175	3,442
Foreign Exchange	(1,237)	218	(446)
Other	82	(1,021)	(714)
Policyholder Contract Deposit	253,637	204,670	173,616
Indexed Annuity
Policyholder Account Balance [Roll Forward]
Policyholder Account Balance	97,861	93,147	92,660	89,755
Deposits	16,230	12,639	11,544
Policy Charges	(709)	(651)	(600)
Surrenders and Withdrawals	(12,744)	(11,253)	(8,057)
Benefit Payments	(1,580)	(1,609)	(1,620)
Interest credited	3,524	1,279	1,638
Foreign Exchange	(7)	1	0
Other	$ 0	$ 81	$ 0
Policyholder Account Balance, Weighted Average Crediting Rate	2.70%	2.40%	2.20%
Policyholder Account Balance, Net Amount at Risk	$ 15,441	$ 14,716	$ 13,581
Policyholder Account Balance, Cash Surrender Value	89,511	85,381	84,724
Policyholder Contract Deposit	97,861	93,147	92,660
Deferred Fixed Annuity
Policyholder Account Balance [Roll Forward]
Policyholder Account Balance	86,661	64,763	43,518	35,599
Deposits	25,459	30,175	13,246
Policy Charges	(2)	(2)	(3)
Surrenders and Withdrawals	(5,389)	(9,929)	(5,419)
Benefit Payments	(1,108)	(984)	(937)
Interest credited	3,256	1,858	1,032
Foreign Exchange	(318)	52	0
Other	$ 0	$ 75	$ 0
Policyholder Account Balance, Weighted Average Crediting Rate	4.30%	4%	3.20%
Policyholder Account Balance, Net Amount at Risk	$ 425	$ 425	$ 422
Policyholder Account Balance, Cash Surrender Value	81,243	61,345	41,273
Policyholder Contract Deposit	86,661	64,763	43,518
Funding Agreements
Policyholder Account Balance [Roll Forward]
Policyholder Account Balance	54,768	32,350	27,439	23,623
Deposits	29,249	6,893	7,970
Policy Charges	0	0	0
Surrenders and Withdrawals	0	(110)	(880)
Benefit Payments	(8,304)	(3,273)	(2,819)
Interest credited	1,707	883	677
Foreign Exchange	(414)	260	(440)
Other	$ 180	$ 258	$ (692)
Policyholder Account Balance, Weighted Average Crediting Rate	4.40%	3.40%	2.50%
Policyholder Account Balance, Net Amount at Risk	$ 0	$ 0	$ 0
Policyholder Account Balance, Cash Surrender Value	0	0	0
Policyholder Contract Deposit	54,768	32,350	27,439
Other Investment Types
Policyholder Account Balance [Roll Forward]
Policyholder Account Balance	8,030	7,629	4,722	$ 2,413
Deposits	1,088	4,597	2,581
Policy Charges	0	0	0
Surrenders and Withdrawals	(84)	(40)	(17)
Benefit Payments	(212)	(275)	(322)
Interest credited	205	155	95
Foreign Exchange	(498)	(95)	(6)
Other	$ (98)	$ (1,435)	$ (22)
Policyholder Account Balance, Weighted Average Crediting Rate	2.70%	2.70%	3.10%
Policyholder Account Balance, Net Amount at Risk	$ 51	$ 103	$ 47
Policyholder Account Balance, Cash Surrender Value	6,784	6,375	2,213
Policyholder Contract Deposit	8,030	7,629	4,722
Other Investment Types | Venerable Holdings, Inc.
Policyholder Account Balance [Roll Forward]
Other		(1,371)
Reconciling Items
Policyholder Account Balance [Roll Forward]
Policyholder Contract Deposit	$ 6,317	$ 6,781	$ 5,277

Long-duration Contracts - Accou

Long-duration Contracts - Account Balances by Guaranteed Minimum Interest Rates (Details) $ in Millions	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jan. 01, 2022 USD ($)
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 247,320	$ 197,889	$ 168,339	$ 151,390
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0000 To 2000
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 175,080	$ 149,902	$ 123,827
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0000 To 2000 | Maximum
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Credit Rating	2%	2%	2%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0200 to 0400
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 27,952	$ 31,255	$ 35,017
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0200 to 0400 | Maximum
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Credit Rating	4%	4%	4%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0200 to 0400 | Minimum
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Credit Rating	2%	2%	2%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 to 0600
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 37,685	$ 11,550	$ 8,293
Policyholder Account Balance, Guaranteed Minimum Credit Rating		6%	6%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 to 0600 | Maximum
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Credit Rating	6%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 to 0600 | Minimum
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Credit Rating	4%	4%	4%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0600 And Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 6,603	$ 5,182	$ 1,202
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0600 And Greater | Minimum
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Credit Rating	6%	6%	6%
Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 95,403	$ 74,845	$ 67,835
Policyholder Account Balance, at Guaranteed Minimum Crediting Rate | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0000 To 2000
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	26,818	30,339	25,031
Policyholder Account Balance, at Guaranteed Minimum Crediting Rate | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0200 to 0400
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	24,356	27,792	33,325
Policyholder Account Balance, at Guaranteed Minimum Crediting Rate | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 to 0600
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	37,626	11,532	8,277
Policyholder Account Balance, at Guaranteed Minimum Crediting Rate | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0600 And Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	6,603	5,182	1,202
Policyholder Account Balance, Above Guaranteed Minimum Crediting Rate, Range From 0001 To 0100
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 15,728	$ 21,045	$ 27,438
Policyholder Account Balance, Above Guaranteed Minimum Crediting Rate, Range From 0001 To 0100 | Maximum
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate	100	100	100
Policyholder Account Balance, Above Guaranteed Minimum Crediting Rate, Range From 0001 To 0100 | Minimum
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate	1	1	1
Policyholder Account Balance, Above Guaranteed Minimum Crediting Rate, Range From 0001 To 0100 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0000 To 2000
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 14,141	$ 18,954	$ 26,020
Policyholder Account Balance, Above Guaranteed Minimum Crediting Rate, Range From 0001 To 0100 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0200 to 0400
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1,529	2,074	1,408
Policyholder Account Balance, Above Guaranteed Minimum Crediting Rate, Range From 0001 To 0100 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 to 0600
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	58	17	10
Policyholder Account Balance, Above Guaranteed Minimum Crediting Rate, Range From 0001 To 0100 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0600 And Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0	0	0
Policyholder Account Balance, Above Guaranteed Minimum Crediting Rate, Range From 0100 And Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 136,189	$ 101,999	$ 73,066
Policyholder Account Balance, Above Guaranteed Minimum Crediting Rate, Range From 0100 And Greater | Minimum
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate	100	100	100
Policyholder Account Balance, Above Guaranteed Minimum Crediting Rate, Range From 0100 And Greater | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0000 To 2000
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 134,121	$ 100,609	$ 72,776
Policyholder Account Balance, Above Guaranteed Minimum Crediting Rate, Range From 0100 And Greater | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0200 to 0400
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	2,067	1,389	284
Policyholder Account Balance, Above Guaranteed Minimum Crediting Rate, Range From 0100 And Greater | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 to 0600
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1	1	6
Policyholder Account Balance, Above Guaranteed Minimum Crediting Rate, Range From 0100 And Greater | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0600 And Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 0	$ 0	$ 0

Long-duration Contracts - Liabi

Long-duration Contracts - Liability for Future Policy Benefit (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2022	Jul. 01, 2023	Jan. 01, 2022
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Liability for Future Policy Benefit, Expected Future Policy Benefit, Original Discount Rate, before Cash Flow and Reinsurance	$ 52,550	$ 54,511	$ 44,834	$ 44,834		$ 35,278
AOCI, Liability for Future Policy Benefit, Expected Net Premium, before Tax	(30)	(45)
Liability for Future Policy Benefit, Expected Net Premium, Original Discount Rate, before Cash Flow and Reinsurance	852	1,135
Liability for Future Policy Benefit, Expected Net Premium, Interest Income	22	6
Liability for Future Policy Benefit, Expected Net Premium, Net Premium Collected	(190)	(2,027)
Liability for Future Policy Benefit, Expected Net Premium, Issuance		3,091
Liability for Future Policy Benefit, Expected Net Premium, before Reinsurance, after Discount Rate Change	880	1,182	0	0
AOCI, Liability for Future Policy Benefit, Expected Net Premium, Foreign Exchange, before Tax	2	(2)
Liability for Future Policy Benefit, Expected Net Premium, Increase (Decrease) for Other Change	(111)	65
Present value of expected future policy benefits
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change	44,972	48,372	36,422	36,422		35,278
Liability for Future Policy Benefit, before Reinsurance	49,902	53,287	42,110	42,110
AOCI, Liability for Future Policy Benefit, Expected Future Policy Benefit, before Tax	(7,584)	(6,144)	(8,425)	(8,425)		0
Liability for Future Policy Benefit, Expected Future Policy Benefit, Cumulative Increase (Decrease) from Cash Flow Change	(104)	(297)
Liability for Future Policy Benefit, Expected Future Policy Benefit, Cumulative Increase (Decrease) of Actual Variance from Expected Experience	74	(67)	(120)	(120)
Liability for Future Policy Benefit, Expected Future Benefit, Original Discount Rate, before Reinsurance, after Cash Flow Change	54,481	44,470	35,158	35,158
Liability for Future Policy Benefit, Expected Future Policy Benefit, Issuance	1,115	13,518		11,528
Liability for Future Policy Benefit, Expected Future Policy Benefit, Interest Expense	1,871	1,664		1,146
Liability for Future Policy Benefit, Expected Future Policy Benefit, Benefit Payment	(4,561)	(3,852)		(2,921)
Liability For Future Policy Benefit, Expected Future Policy Benefit, Foreign exchange	(356)	(220)		(77)
Liability for Future Policy Benefit, Expected Future Policy Benefit, Increase (Decrease) for Other Change		(1,509)
AOCI, Liability for Future Policy Benefit, Expected Future Policy Benefit, Foreign Exchange, before Tax	6	5	13	13
Liability for Future Policy Benefit, Interest Expense	1,849	1,658	1,146
Liability for Future Policy Benefit, Gross Premium Income	1,318	12,749	11,638
Liability for Future Policy Benefit, Expected Future Policy Benefit, Period Increase (Decrease)	3,400	(11,950)		(1,144)
Liability for Future Policy Benefit, Adverse Development, Expense	15	136	50
Liability for Future Policy Benefit, Remeasurement Gain (Loss), Reserves	25	364	120
Liability for Future Policy Benefit, Remeasurement Gain (Loss), Deferred Profit Liability	(48)	(246)	(126)
Liability for Future Policy Benefit, Remeasurement Gain (Loss), Negative VOBA	39	(65)	21
Liability for Future Policy Benefit, Remeasurement Gain (Loss)	16	53	15
AOCI, Liability for Future Policy Benefit, Expected Future Policy Benefit, before Tax And AOCI, Liability for Future Policy Benefit, Expected Future Policy Benefit, before Tax	(1,440)	(2,236)
Liability for Future Policy Benefit, Expected Net Premium, Cumulative Increase (Decrease) of Actual Variance from Expected Experience	(4)
Liability for Future Policy Benefit, Expected Net Premium, Original Discount Rate, before Reinsurance, after Cash Flow Change	1,131
Venerable Holdings, Inc. | Reinsurance agreement recapture
Present value of expected future policy benefits
Liability for Future Policy Benefit, before Reinsurance					$ 2,700
Payout Annuity
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Liability for Future Policy Benefit, Expected Future Policy Benefit, Original Discount Rate, before Cash Flow and Reinsurance	49,634	51,235	44,834	44,834		35,278
AOCI, Liability for Future Policy Benefit, Expected Net Premium, before Tax	0	0
Liability for Future Policy Benefit, Expected Net Premium, Original Discount Rate, before Cash Flow and Reinsurance	0	0
Liability for Future Policy Benefit, Expected Net Premium, Interest Income	0	0
Liability for Future Policy Benefit, Expected Net Premium, Net Premium Collected	0	0
Liability for Future Policy Benefit, Expected Net Premium, Issuance		0
Liability for Future Policy Benefit, Expected Net Premium, before Reinsurance, after Discount Rate Change	0	0	0	0
AOCI, Liability for Future Policy Benefit, Expected Net Premium, Foreign Exchange, before Tax	0	0
Present value of expected future policy benefits
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change	42,261	45,001	36,422	36,422		35,278
Liability for Future Policy Benefit, before Reinsurance	42,261	45,001	36,422	36,422
AOCI, Liability for Future Policy Benefit, Expected Future Policy Benefit, before Tax	(7,378)	(6,233)	(8,425)	(8,425)		0
Liability for Future Policy Benefit, Expected Future Policy Benefit, Cumulative Increase (Decrease) from Cash Flow Change	(104)
Liability for Future Policy Benefit, Expected Future Policy Benefit, Cumulative Increase (Decrease) of Actual Variance from Expected Experience	78		(120)	(120)
Liability for Future Policy Benefit, Expected Future Benefit, Original Discount Rate, before Reinsurance, after Cash Flow Change	51,209	44,470	35,158	35,158
Liability for Future Policy Benefit, Expected Future Policy Benefit, Issuance	1,115	10,427		11,528
Liability for Future Policy Benefit, Expected Future Policy Benefit, Interest Expense	1,802	1,646		1,146
Liability for Future Policy Benefit, Expected Future Policy Benefit, Benefit Payment	(4,476)	(3,834)		(2,921)
Liability For Future Policy Benefit, Expected Future Policy Benefit, Foreign exchange	(16)	35		(77)
Liability for Future Policy Benefit, Expected Future Policy Benefit, Increase (Decrease) for Other Change		(1,509)
AOCI, Liability for Future Policy Benefit, Expected Future Policy Benefit, Foreign Exchange, before Tax	$ 5	$ (1)	$ 13	$ 13
Liability for Future Policy Benefit, Weighted-Average Duration	9 years 4 months 24 days	9 years 6 months	10 years 2 months 12 days	10 years 2 months 12 days
Liability for Future Policy Benefit, Weighted-Average Interest Accretion Rate	3.70%	3.60%	3.20%	3.20%
Liability for Future Policy Benefit, Current Weighted-Average Discount Rate	5.60%	5.10%	5.50%	5.50%
Liability for Future Policy Benefit, Interest Expense	$ 1,802	$ 1,646	$ 1,146
Liability for Future Policy Benefit, Expected Future Policy Benefit, Undiscounted, before Reinsurance	72,793	75,261	64,754	$ 64,754
Liability for Future Policy Benefit, Expected Future Gross Premium, Undiscounted, before Reinsurance	0	0
Liability for Future Policy Benefit, Expected Future Gross Premium, Discounted, before Reinsurance	0	0
Liability for Future Policy Benefit, Gross Premium Income	1,085	10,504	11,606
Liability for Future Policy Benefit, Expected Net Premium, Foreign Exchange	0	0
Liability for Future Policy Benefit, Expected Net Premium, Cumulative Increase (Decrease) of Actual Variance from Expected Experience	0	(67)
Liability for Future Policy Benefit, Expected Net Premium, Original Discount Rate, before Reinsurance, after Cash Flow Change	0
Reconciling Items
Present value of expected future policy benefits
Liability for Future Policy Benefit, before Reinsurance	5,810	6,097	5,688	5,688
Liability for Future Policy Benefit, Gross Premium Income	29	31	32
Whole Life Insurance
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Liability for Future Policy Benefit, Expected Future Policy Benefit, Original Discount Rate, before Cash Flow and Reinsurance	2,916	3,276	0	0		0
AOCI, Liability for Future Policy Benefit, Expected Net Premium, before Tax	(30)	(45)
Liability for Future Policy Benefit, Expected Net Premium, Original Discount Rate, before Cash Flow and Reinsurance	852	1,135
Liability for Future Policy Benefit, Expected Net Premium, Interest Income	22	6
Liability for Future Policy Benefit, Expected Net Premium, Net Premium Collected	(190)	(2,027)
Liability for Future Policy Benefit, Expected Net Premium, Issuance		3,091
Liability for Future Policy Benefit, Expected Net Premium, before Reinsurance, after Discount Rate Change	880	1,182	0	0
AOCI, Liability for Future Policy Benefit, Expected Net Premium, Foreign Exchange, before Tax	2	(2)
Liability for Future Policy Benefit, Expected Net Premium, Increase (Decrease) for Other Change	(111)	65
Present value of expected future policy benefits
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change	2,711	3,371	0	0		0
Liability for Future Policy Benefit, before Reinsurance	1,831	2,189	0	0
AOCI, Liability for Future Policy Benefit, Expected Future Policy Benefit, before Tax	(206)	89	0	0		$ 0
Liability for Future Policy Benefit, Expected Future Policy Benefit, Cumulative Increase (Decrease) from Cash Flow Change	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit, Cumulative Increase (Decrease) of Actual Variance from Expected Experience	(4)		0	0
Liability for Future Policy Benefit, Expected Future Benefit, Original Discount Rate, before Reinsurance, after Cash Flow Change	3,272	0	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit, Issuance	0	3,091		0
Liability for Future Policy Benefit, Expected Future Policy Benefit, Interest Expense	69	18		0
Liability for Future Policy Benefit, Expected Future Policy Benefit, Benefit Payment	(85)	(18)		0
Liability For Future Policy Benefit, Expected Future Policy Benefit, Foreign exchange	(340)	185		0
Liability for Future Policy Benefit, Expected Future Policy Benefit, Increase (Decrease) for Other Change		0
AOCI, Liability for Future Policy Benefit, Expected Future Policy Benefit, Foreign Exchange, before Tax	$ 1	$ 6	$ 0	$ 0
Liability for Future Policy Benefit, Weighted-Average Duration	30 years 8 months 12 days	33 years 6 months	0 years	0 years
Liability for Future Policy Benefit, Weighted-Average Interest Accretion Rate	4.80%	4.80%	0%	0%
Liability for Future Policy Benefit, Current Weighted-Average Discount Rate	4.80%	4.10%	0%	0%
Liability for Future Policy Benefit, Interest Expense		$ 12	$ 0
Liability for Future Policy Benefit, Expected Future Policy Benefit, Undiscounted, before Reinsurance	$ 10,618	11,344	0	$ 0
Liability for Future Policy Benefit, Expected Future Gross Premium, Undiscounted, before Reinsurance	1,107	1,497
Liability for Future Policy Benefit, Expected Future Gross Premium, Discounted, before Reinsurance	929	1,239
Liability for Future Policy Benefit, Gross Premium Income	204	2,214	$ 47
Liability for Future Policy Benefit, Expected Net Premium, Cumulative Increase (Decrease) of Actual Variance from Expected Experience	(4)	0
Liability for Future Policy Benefit, Expected Net Premium, Original Discount Rate, before Reinsurance, after Cash Flow Change	1,131
All products, excluding reconciling items
Present value of expected future policy benefits
Liability for Future Policy Benefit, before Reinsurance	$ 44,092	$ 47,190

Long-duration Contracts - Marke

Long-duration Contracts - Market Risk Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2022
Market Risk Benefit [Line Items]
Market Risk Benefit, Asset, Amount	$ 313	$ 378	$ 481
Market Risk Benefit, Liability, Amount	4,028	3,751	2,970
Market Risk Benefit, after Increase (Decrease) from Instrument-Specific Credit Risk	3,715	3,373	2,489
Market Risk Benefit, before Reinsurance and Cumulative Increase (Decrease) from Instrument-Specific Credit Risk Change	3,558	3,365	2,855	$ 4,447
AOCI, Market Risk Benefit, Instrument-Specific Credit Risk, before Tax	157	8	(366)
Market Risk Benefit, Issuance	295	106	60
Market Risk Benefit, Interest Expense	201	157	56
Market Risk Benefit, Attributed Fee Collected	360	338	333
Market Risk Benefit, Benefit Payment	(56)	(34)	(53)
Market Risk Benefit, Increase (Decrease) from Interest Rate Change	(658)	(91)	(2,169)
Market Risk Benefit, Increase (Decrease) from Equity Market Change	(94)	(119)	176
Market Risk Benefit, Increase (Decrease) from Actual Policyholder Behavior Different from Expected	79	72	48
Market Risk Benefit, Increase (Decrease) from Future Expected Policyholder Behavior Assumption	85	75	(43)
Market Risk Benefit, Increase (Decrease) from Other Assumption	(19)	6
Market Risk Benefit, Period Increase (Decrease)	342	884	(1,958)
Market Risk Benefit, Reinsurance Recoverable, after Allowance	37
Market Risk Benefit, after Reinsurance and Cumulative Increase (Decrease) from Instrument-Specific Credit Risk Change	3,678
Indexed Annuity
Market Risk Benefit [Line Items]
Market Risk Benefit, Asset, Amount	313	378	481
Market Risk Benefit, Liability, Amount	3,838	3,559	2,800
Market Risk Benefit, after Increase (Decrease) from Instrument-Specific Credit Risk	3,525	3,181	2,319	4,194
Market Risk Benefit, before Reinsurance and Cumulative Increase (Decrease) from Instrument-Specific Credit Risk Change	3,371	3,171	2,672
AOCI, Market Risk Benefit, Instrument-Specific Credit Risk, before Tax	154	10	(353)
Market Risk Benefit, Issuance	295	106	60
Market Risk Benefit, Interest Expense	191	147	52
Market Risk Benefit, Attributed Fee Collected	358	336	330
Market Risk Benefit, Benefit Payment	(52)	(32)	(49)
Market Risk Benefit, Increase (Decrease) from Interest Rate Change	(640)	(90)	(2,092)
Market Risk Benefit, Increase (Decrease) from Equity Market Change	(94)	(119)	176
Market Risk Benefit, Increase (Decrease) from Actual Policyholder Behavior Different from Expected	73	67	42
Market Risk Benefit, Increase (Decrease) from Future Expected Policyholder Behavior Assumption	88	78	(41)
Market Risk Benefit, Increase (Decrease) from Other Assumption	(19)	6
Market Risk Benefit, Net Amount at Risk	$ 15,441	$ 14,716	$ 13,581
Net Amount at Risk by Product and Guarantee, Weighted Average Attained Age	69 years	69 years	68 years
Market Risk Benefit, Reinsurance Recoverable, after Allowance	$ 37
Market Risk Benefit, after Reinsurance and Cumulative Increase (Decrease) from Instrument-Specific Credit Risk Change	3,488
Deferred Fixed Annuity
Market Risk Benefit [Line Items]
Market Risk Benefit, Asset, Amount	0	$ 0	$ 0
Market Risk Benefit, Liability, Amount	190	192	170
Market Risk Benefit, after Increase (Decrease) from Instrument-Specific Credit Risk	190	192	170	$ 253
Market Risk Benefit, before Reinsurance and Cumulative Increase (Decrease) from Instrument-Specific Credit Risk Change	187	194	183
AOCI, Market Risk Benefit, Instrument-Specific Credit Risk, before Tax	3	(2)	(13)
Market Risk Benefit, Issuance	0	0	0
Market Risk Benefit, Interest Expense	10	10	4
Market Risk Benefit, Attributed Fee Collected	2	2	3
Market Risk Benefit, Benefit Payment	(4)	(2)	(4)
Market Risk Benefit, Increase (Decrease) from Interest Rate Change	(18)	(1)	(77)
Market Risk Benefit, Increase (Decrease) from Equity Market Change	0	0	0
Market Risk Benefit, Increase (Decrease) from Actual Policyholder Behavior Different from Expected	6	5	6
Market Risk Benefit, Increase (Decrease) from Future Expected Policyholder Behavior Assumption	(3)	(3)	(2)
Market Risk Benefit, Increase (Decrease) from Other Assumption	0	0
Market Risk Benefit, Net Amount at Risk	$ 425	$ 425	$ 422
Net Amount at Risk by Product and Guarantee, Weighted Average Attained Age	76 years	75 years	74 years
Market Risk Benefit, Reinsurance Recoverable, after Allowance	$ 0
Market Risk Benefit, after Reinsurance and Cumulative Increase (Decrease) from Instrument-Specific Credit Risk Change	$ 190

Long-duration Contracts - Signi

Long-duration Contracts - Significant Inputs and Assumptions (Details) $ in Millions	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Market Risk Benefit, after Increase (Decrease) from Instrument-Specific Credit Risk	$ 3,715	$ 3,373	$ 2,489
Minimum | Measurement Input, Nonperformance Risk | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Market Risk Benefit, Measurement Input	0.004	0.004	0.002
Minimum | Measurement Input, Option Budget | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Market Risk Benefit, Measurement Input	0.005	0.005	0.005
Minimum | Measurement Input, Surrender Rate | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Market Risk Benefit, Measurement Input	0.033	0.032	0.033
Minimum | Measurement Input, Utilization Rate | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Market Risk Benefit, Measurement Input	0.286	0.286	0.286
Maximum | Measurement Input, Nonperformance Risk | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Market Risk Benefit, Measurement Input	0.011	0.014	0.016
Maximum | Measurement Input, Option Budget | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Market Risk Benefit, Measurement Input	0.060	0.060	0.053
Maximum | Measurement Input, Surrender Rate | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Market Risk Benefit, Measurement Input	0.072	0.064	0.067
Maximum | Measurement Input, Utilization Rate | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Market Risk Benefit, Measurement Input	0.950	0.950	0.950
Weighted Average | Measurement Input, Nonperformance Risk | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Market Risk Benefit, Measurement Input	0.010	0.012	0.014
Weighted Average | Measurement Input, Option Budget | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Market Risk Benefit, Measurement Input	0.023	0.019	0.017
Weighted Average | Measurement Input, Surrender Rate | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Market Risk Benefit, Measurement Input	0.046	0.045	0.044
Weighted Average | Measurement Input, Utilization Rate | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Market Risk Benefit, Measurement Input	0.849	0.836	0.823

Closed Block - Schedule of Clos

Closed Block - Schedule of Closed Block Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets
Maximum future earnings to be recognized from AmerUs Closed Block	$ 19	$ 24
Trading securities	939	989
Mortgage loans	7	11
Policy loans	122	128
Total investments	1,068	1,128
Cash and cash equivalents	77	88
Accrued investment income	13	14
Reinsurance recoverable	18	12
Other assets	5	1
Total assets	1,181	1,243
Liabilities
Future policy benefits	1,102	1,178
Other policy claims and benefits	21	12
Dividends payable to policyholders	68	70
Total liabilities	1,200	1,267
AmerUs Closed Block
Liabilities
Closed Block Liabilities, Other Closed Block Liabilities	$ 9	$ 7

Closed Block - Results of Opera

Closed Block - Results of Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues
Premiums	$ 26	$ 29	$ 29
Net investment income	67	68	67
Investment related gains (losses)	(44)	40	(310)
Total revenues	49	137	(214)
Benefits and expenses
Future policy and other policy benefits	24	111	(242)
Dividends to policyholders	20	21	22
Total benefits and expenses	44	132	(220)
Contribution from AmerUs Closed Block before income taxes	5	5	6
Income tax expense	0	2	1
Contribution from AmerUs Closed Block, net of income taxes	$ 5	$ 3	$ 5

Debt - Credit Facility (Details

Debt - Credit Facility (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)	Jun. 30, 2023 extension
Revolving Credit Facility
Line of Credit Facility [Line Items]
Borrowing capacity	$ 1,250
Maximum borrowing capacity	$ 1,750
Capitalization ratio	35%
Liquidity Facility
Line of Credit Facility [Line Items]
Borrowing capacity	$ 2,600
Maximum borrowing capacity	$ 3,100
Syndicate Of Banks and CitiBank | Revolving Credit Facility | Line of Credit [Member]
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

Debt - Senior Note Issuance (De

Debt - Senior Note Issuance (Details) - USD ($) $ in Millions		12 Months Ended
	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount	$ 6,175	$ 6,175
Interest Expense, Long-term Debt		248	$ 123	$ 98
Long-term Debt	$ 6,309	$ 6,309	4,209
AARe
Line of Credit Facility [Line Items]
Debt Instrument, Deferred Interest Payments, Period		5 years
Senior Notes due 2028
Line of Credit Facility [Line Items]
Debt Instrument, Issuance Date	Jan. 12, 2018
Debt Instrument, Face Amount	$ 1,000	$ 1,000
Interest rate	4.125%	4.125%
Long-term Debt, Maturity Date	Jan. 12, 2028	Jan. 12, 2028
Long-term Debt	$ 1,050	$ 1,050	1,066
Senior Notes due 2030
Line of Credit Facility [Line Items]
Debt Instrument, Issuance Date	Apr. 03, 2020
Debt Instrument, Face Amount	$ 500	$ 500
Interest rate	6.15%	6.15%
Long-term Debt, Maturity Date	Apr. 03, 2030	Apr. 03, 2030
Long-term Debt	$ 579	$ 579	593
Senior Notes due 2031
Line of Credit Facility [Line Items]
Debt Instrument, Issuance Date	Oct. 08, 2020
Debt Instrument, Face Amount	$ 500	$ 500
Interest rate	3.50%	3.50%
Long-term Debt, Maturity Date	Jan. 15, 2031	Jan. 15, 2031
Long-term Debt	$ 520	$ 520	523
Senior Notes due 2033
Line of Credit Facility [Line Items]
Debt Instrument, Issuance Date	Nov. 21, 2022
Debt Instrument, Face Amount	$ 400	$ 400
Interest rate	6.65%	6.65%
Long-term Debt, Maturity Date	Feb. 01, 2033	Feb. 01, 2033
Long-term Debt	$ 395	$ 395	395
Senior Notes due 2034
Line of Credit Facility [Line Items]
Debt Instrument, Issuance Date	Dec. 12, 2023
Debt Instrument, Face Amount	$ 600	$ 600
Interest rate	5.875%	5.875%
Long-term Debt, Maturity Date	Jan. 15, 2034	Jan. 15, 2034
Long-term Debt	$ 584	$ 584	583
Senior Notes due 2052
Line of Credit Facility [Line Items]
Debt Instrument, Issuance Date	Dec. 13, 2021
Debt Instrument, Face Amount	$ 500	$ 500
Interest rate	3.45%	3.45%
Long-term Debt, Maturity Date	May 15, 2052	May 15, 2052
Long-term Debt	$ 504	$ 504	504
Junior Subordinated Debt
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate		2.986%
Debt Instrument, Deferred Interest Payments, Period		5 years
Junior Subordinated Debt Due 2054
Line of Credit Facility [Line Items]
Debt Instrument, Issuance Date	Oct. 10, 2024
Debt Instrument, Face Amount	$ 600	$ 600
Interest rate	6.625%	6.625%
Long-term Debt, Maturity Date	Oct. 15, 2054	Oct. 15, 2054
Long-term Debt	$ 592	$ 592	0
Junior Subordinated Debt Due 2064
Line of Credit Facility [Line Items]
Debt Instrument, Issuance Date	Mar. 07, 2024
Debt Instrument, Face Amount	$ 575	$ 575
Interest rate	7.25%	7.25%
Long-term Debt, Maturity Date	Mar. 30, 2064	Mar. 30, 2064
Long-term Debt	$ 558	$ 558	0
Senior Notes due 2051
Line of Credit Facility [Line Items]
Debt Instrument, Issuance Date	May 25, 2021
Debt Instrument, Face Amount	$ 500	$ 500
Interest rate	3.95%	3.95%
Long-term Debt, Maturity Date	May 25, 2051	May 25, 2051
Long-term Debt	$ 544	$ 544	545
Senior Notes due 2054
Line of Credit Facility [Line Items]
Debt Instrument, Issuance Date	Mar. 22, 2024
Debt Instrument, Face Amount	$ 1,000	$ 1,000
Interest rate	6.25%	6.25%
Long-term Debt, Maturity Date	Apr. 01, 2054	Apr. 01, 2054
Long-term Debt	$ 983	$ 983	$ 0
2054 Subordinated Notes | Subordinated Debt
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate		2.607%

Debt - Liquidity Facility (Deta

Debt - Liquidity Facility (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Liquidity Facility
Debt Disclosure [Abstract]
Maximum borrowing capacity	$ 3,100,000,000
Borrowing capacity	2,600,000,000
Line of Credit Facility [Line Items]
Line of Credit Facility, Fair Value of Amount Outstanding	0	$ 0
Liquidity Facility | ALRe
Debt Disclosure [Abstract]
Line of Credit Facility, Covenant Terms, Consolidated Net Worth Requirement, Amount	10,200,000,000
Line of Credit Facility [Line Items]
Line of Credit Facility, Covenant Terms, Consolidated Net Worth Requirement, Amount	10,200,000,000
Revolving Credit Facility
Debt Disclosure [Abstract]
Maximum borrowing capacity	1,750,000,000
Borrowing capacity	1,250,000,000
Line of Credit Facility, Covenant Terms, Consolidated Net Worth Requirement, Amount	14,800,000,000
Line of Credit Facility [Line Items]
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

Equity - Schedule of Stock by C

Equity - Schedule of Stock by Class (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Dividends, Preferred Stock, Cash	$ 181	$ 181	$ 141
Common Class A [Member]
Class of Stock [Line Items]
Common stock outstanding (in shares)	203.8	203.8
Series A Preferred Stock
Class of Stock [Line Items]
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Issuance Date	Jun. 10, 2019
Dividends, Preferred Stock, Cash	$ 55	$ 55	55
Series B Preferred Stock
Class of Stock [Line Items]
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Issuance Date	Sep. 19, 2019
Dividends, Preferred Stock, Cash	$ 19	19	19
Series C Preferred Stock
Class of Stock [Line Items]
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Issuance Date	Jun. 11, 2020
Dividends, Preferred Stock, Cash	$ 38	38	38
Series D Preferred Stock
Class of Stock [Line Items]
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Issuance Date	Dec. 18, 2020
Dividends, Preferred Stock, Cash	$ 28	$ 28	$ 29

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended	12 Months Ended
	Dec. 31, 2021	Mar. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2022
Class of Stock [Line Items]
Dividends, Preferred Stock, Cash			$ 181	$ 181	$ 141
Dividends						$ 2,752
Dividends, Common Stock			951	937		563
Stock Dividends, Shares		11,600,000
Adjustments to Additional Paid in Capital, Other			52	1,290		38
Additional paid-in capital
Class of Stock [Line Items]
Dividends		$ 1,916				2,726
Adjustments to Additional Paid in Capital, Other		810	52	1,290		38
Retained earnings (accumulated deficit)
Class of Stock [Line Items]
Dividends		$ 26				26
Dividends, Common Stock	$ 750		$ 951	$ 937	$ 563	$ 563
Series A Preferred Stock
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage			6.35%
Preferred Stock, Liquidation Preference Per Share			$ 25,000
Preferred Stock, Dividends, Per Share, Cash Paid			$ 1,587.5	$ 1,590.2	$ 1,587.5
Dividends, Preferred Stock, Cash			$ 55	$ 55	$ 55
Preferred Stock, Shares Issued			34,500	0
Series B Preferred Stock
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage			5.625%
Preferred Stock, Liquidation Preference Per Share			$ 25,000
Preferred Stock, Dividends, Per Share, Cash Paid			$ 1,406.25	$ 1,406.25	$ 1,406.25
Dividends, Preferred Stock, Cash			$ 19	$ 19	$ 19
Preferred Stock, Shares Issued			13,800	0
Series C Preferred Stock
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage			6.375%
Preferred Stock, Liquidation Preference Per Share			$ 25,000
Preferred Stock, Dividends, Per Share, Cash Paid			$ 1,593.75	$ 1,593.75	$ 1,593.75
Dividends, Preferred Stock, Cash			$ 38	$ 38	$ 38
Preferred Stock, Shares Issued			24,000	0
Series D Preferred Stock
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage			4.875%
Preferred Stock, Liquidation Preference Per Share			$ 25,000
Preferred Stock, Dividends, Per Share, Cash Paid			$ 1,218.75	$ 1,218.75	$ 1,218.75
Dividends, Preferred Stock, Cash			$ 28	$ 28	$ 29
Preferred Stock, Shares Issued			23,000	0

Equity - AOCI (Details)

Equity - AOCI (Details) - USD ($) $ in Millions		12 Months Ended
	Jan. 01, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before reclassifications, before tax	$ 0	$ (139)	$ 2,431		$ (136)
Reclassification adjustments for gains (losses) realized in net income		(195)	(84)		(9,559)
Income tax expense (benefit) related to other comprehensive income (loss)		22	511	$ (1,933)	(169)
Other comprehensive income attributable to NCI, net of tax		(70)	252		(1,933)
Accumulated other comprehensive income (loss)		(5,465)	(5,569)	(7,321)	(7,321)
AOCI, Gain (Loss), Debt Securities, Available-for-sale, without Allowance for Credit Loss, Including Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before reclassifications, before tax		(1,354)	5,067		(17,929)
Reclassification adjustments for gains (losses) realized in net income		(223)	(163)		(218)
Income tax expense (benefit) related to other comprehensive income (loss)		(219)	588		(3,154)
AOCI, Gain (Loss), Debt Securities, Available-for-sale, with Allowance for Credit Loss, Including Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before reclassifications, before tax		(5)	51		(463)
Reclassification adjustments for gains (losses) realized in net income		(15)	(3)		(18)
Income tax expense (benefit) related to other comprehensive income (loss)		3	6		(86)
AOCI, Gain (Loss), Debt Securities, Available-for-sale, without Allowance for Credit Loss, Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income attributable to NCI, net of tax		(413)	749		(1,992)
AOCI, Gain (Loss), Debt Securities, Available-for-sale, with Allowance for Credit Loss, Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income attributable to NCI, net of tax		2	3		(25)
AOCI, Liability for Future Policy Benefit, Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)		4,235	3,458	5,256	5,256
AOCI, Market Risk Benefit, Instrument-Specific Credit Risk, Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)		(103)	3	285	285
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before reclassifications, before tax		(48)	40		(27)
Reclassification adjustments for gains (losses) realized in net income		0	0		0
Income tax expense (benefit) related to other comprehensive income (loss)		(10)	8		(5)
Accumulated Foreign Currency Adjustment Attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income attributable to NCI, net of tax		(3)	9		(12)
AOCI, Gain (Loss), Debt Securities, Available-for-Sale, with Allowance for Credit Loss, Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	0	(284)	(289)	(334)	(334)
AOCI, Gain (Loss), Debt Securities, Available-for-Sale, without Allowance for Credit Loss, Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	0	(9,171)	(8,672)	(12,565)	(12,565)
Accumulated Foreign Currency Adjustment Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	0	(22)	13	(10)	(10)
AOCI, Derivative Qualifying as Hedge, Excluded Component, Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	0	(120)	(82)	$ 47	47
Accumulated Other Comprehensive Income (Loss), Derivative Qualifying as Hedge, Excluded Component, Including Portion Attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before reclassifications, before tax		(8)	(117)		69
Reclassification adjustments for gains (losses) realized in net income		43	82		67
Income tax expense (benefit) related to other comprehensive income (loss)		(8)	(51)		12
AOCI, Derivative Qualifying as Hedge, Excluded Component, Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income attributable to NCI, net of tax		(5)	(19)		(57)
AOCI, Liability for Future Policy Benefit, Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income attributable to NCI, net of tax		361	(476)		1,223
AOCI, Market Risk Benefit, Instrument-Specific Credit Risk, Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income attributable to NCI, net of tax		(12)	(14)		77
AOCI, Liability for Future Policy Benefit, Including Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before reclassifications, before tax	0	1,425	(2,236)		1,946
Reclassification adjustments for gains (losses) realized in net income		0	0		8,425
Income tax expense (benefit) related to other comprehensive income (loss)		287	38		0
AOCI, Market Risk Benefit, Instrument-Specific Credit Risk, Including Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before reclassifications, before tax	$ 0	(149)	(374)		4
Reclassification adjustments for gains (losses) realized in net income		0	0		366
Income tax expense (benefit) related to other comprehensive income (loss)		$ (31)	$ (78)		$ 0

Equity - Schedule of Preferred

Equity - Schedule of Preferred Stock (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Series A Preferred Stock
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage	6.35%
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Issuance Date	Jun. 10, 2019
Preferred Stock, Shares Authorized	34,500	0
Preferred Stock, Shares Issued	34,500	0
Preferred Stock, Shares Outstanding	34,500	0
Series B Preferred Stock
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage	5.625%
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Issuance Date	Sep. 19, 2019
Preferred Stock, Shares Authorized	13,800	0
Preferred Stock, Shares Issued	13,800	0
Preferred Stock, Shares Outstanding	13,800	0
Series D Preferred Stock
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage	4.875%
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Issuance Date	Dec. 18, 2020
Preferred Stock, Shares Authorized	23,000	0
Preferred Stock, Shares Issued	23,000	0
Preferred Stock, Shares Outstanding	23,000	0
Series C Preferred Stock
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage	6.375%
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Issuance Date	Jun. 11, 2020
Preferred Stock, Shares Authorized	24,000	0
Preferred Stock, Shares Issued	24,000	0
Preferred Stock, Shares Outstanding	24,000	0
Series E Preferred Stock
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage	7.75%
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Issuance Date	Dec. 12, 2022
Preferred Stock, Shares Authorized	20,000	0
Preferred Stock, Shares Issued	20,000	0
Preferred Stock, Shares Outstanding	20,000	0

Equity - Preferred Stock Divide

Equity - Preferred Stock Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Preferred Stock [Line Items]
Dividends, Preferred Stock, Cash	$ 181	$ 181	$ 141
Series A Preferred Stock
Schedule of Preferred Stock [Line Items]
Preferred Stock, Dividends, Per Share, Cash Paid	$ 1,587.5	$ 1,590.2	$ 1,587.5
Dividends, Preferred Stock, Cash	$ 55	$ 55	$ 55
Series B Preferred Stock
Schedule of Preferred Stock [Line Items]
Preferred Stock, Dividends, Per Share, Cash Paid	$ 1,406.25	$ 1,406.25	$ 1,406.25
Dividends, Preferred Stock, Cash	$ 19	$ 19	$ 19
Series C Preferred Stock
Schedule of Preferred Stock [Line Items]
Preferred Stock, Dividends, Per Share, Cash Paid	$ 1,593.75	$ 1,593.75	$ 1,593.75
Dividends, Preferred Stock, Cash	$ 38	$ 38	$ 38
Series D Preferred Stock
Schedule of Preferred Stock [Line Items]
Preferred Stock, Dividends, Per Share, Cash Paid	$ 1,218.75	$ 1,218.75	$ 1,218.75
Dividends, Preferred Stock, Cash	$ 28	$ 28	$ 29
Series E Preferred Stock
Schedule of Preferred Stock [Line Items]
Preferred Stock, Dividends, Per Share, Cash Paid	$ 1,937.5	$ 2,034.38	$ 0
Dividends, Preferred Stock, Cash	$ 41	$ 41	$ 0

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Current Income Tax Expense (Benefit)	$ 975	$ 720	$ 373
Deferred income tax expense (benefit)	(245)	(1,881)	(1,019)
Income tax expense (benefit)	730	(1,161)	(646)
Affordable Housing Tax Credits and Other Tax Benefits, Transaction Cost	238	103	0
Investment Program, Proportional Amortization Method, Applied, Amortization Expense	56	49	0
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, before Amortization Expense	$ 332	$ 164	$ 0
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, before Amortization, Statement of Income or Comprehensive Income [Extensible Enumeration]	Income tax expense (benefit)	Income tax expense (benefit)	Income tax expense (benefit)
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, before Amortization, Statement of Cash Flows [Extensible Enumeration]	Income tax expense (benefit)	Income tax expense (benefit)	Income tax expense (benefit)
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Cash Flows [Extensible Enumeration]	Income tax expense (benefit)	Income tax expense (benefit)	Income tax expense (benefit)
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Income or Comprehensive Income [Extensible Enumeration]	Income tax expense (benefit)	Income tax expense (benefit)	Income tax expense (benefit)

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Before Income Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Holiday [Line Items]
Income before income taxes	$ 5,634	$ 4,591	$ (5,662)
Domestic Tax Jurisdiction [Member] | Office of the Tax Commissioner, Bermuda [Member]
Income Tax Holiday [Line Items]
Income before income taxes	2,146	2,652	(3,400)
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS)
Income Tax Holiday [Line Items]
Income before income taxes	3,526	2,179	(2,084)
Foreign Tax Jurisdiction [Member] | His Majesty's Revenue and Customs (HMRC) [Member]
Income Tax Holiday [Line Items]
Income before income taxes	(36)	(240)	(178)
Foreign Tax Jurisdiction [Member] | National Tax Agency, Japan
Income Tax Holiday [Line Items]
Income before income taxes	$ (2)	$ 0	$ 0

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Tax Rate Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	$ 1,183	$ 964	$ (1,189)
Increase (decrease) in income taxes resulting from:
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	23	(80)	39
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount	12	11	1
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Amount	(22)	(38)	48
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Payment Arrangement, Amount	(11)	(1)	9
Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Amount	(241)	(245)	446
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	11	73	0
Effective Income Tax Rate Reconciliation, Tax Contingency, Foreign, Amount	(195)	(1,764)	0
Effective Income Tax Rate Reconciliation, Interest expense attribute, Amount	8	(68)	0
Effective Income Tax Rate Reconciliation, Tax Credit, Amount	(38)	(13)	0
Income tax expense (benefit)	$ 730	$ (1,161)	$ (646)
Effective Tax Rate	13%	(25.00%)	11%
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS)
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%	21%	21%

Income Taxes - Schedule of In_2

Income Taxes - Schedule of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 730	$ (1,161)		$ (646)
Income tax expense (benefit) related to other comprehensive income (loss)	22	511	$ (169)	(1,933)
Income Tax Expense (Benefit), Intraperiod Tax Allocation	$ 752	$ (650)		$ (2,579)

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Deferred Tax Assets, Gross
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Policyholder Liabilities	$ 2,383	$ 1,742
Deferred Tax Assets, Operating Loss Carryforwards	253	284
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Compensation	10	8
Deferred Tax Assets, Other Foreign Deferreds	552	1,176
Deferred Tax Assets, Tax Credit Carryforwards, Foreign	1,959	1,764
Deferred Tax Assets, Other	0	284
Deferred Tax Assets, Gross	7,517	7,157
Deferred Tax Assets, Valuation Allowance	(48)	(25)
Deferred Tax Assets, Net of Valuation Allowance	7,469	7,132
Deferred Tax Liabilities, Gross [Abstract]
Deferred Tax Liabilities, Deferred Expense, Deferred Policy Acquisition Cost	1,120	954
Deferred Tax Liabilities, Other	10	49
Deferred Tax Liabilities, Gross	1,492	1,389
Income Tax Assets and Liabilities
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Policyholder Liabilities	2,383	1,742
Deferred Tax Assets, Investments	2,360	1,899
Deferred Tax Assets, Operating Loss Carryforwards	253	284
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Compensation	10	8
Deferred Tax Assets, Other Foreign Deferreds	552	1,176
Deferred Tax Assets, Other	0	284
Deferred Tax Assets, Gross	7,517	7,157
Deferred Tax Assets, Valuation Allowance	48	25
Deferred Tax Assets, Net of Valuation Allowance	7,469	7,132
Deferred Tax Liabilities, Intangible Assets	362	386
Deferred Tax Liabilities, Deferred Expense, Deferred Policy Acquisition Cost	1,120	954
Deferred Tax Liabilities, Other	10	49
Deferred Tax Liabilities, Gross	1,492	1,389
Deferred Tax Assets, Net	$ 5,977	$ 5,743

Income Taxes - Summary of Valua

Income Taxes - Summary of Valuation Allowance (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Valuation Allowance [Line Items]
Deferred Tax Assets, Valuation Allowance	$ 48	$ 25
United States Federal and State Net Operating Losses [Member]
Valuation Allowance [Line Items]
Deferred Tax Assets, Valuation Allowance	3	0
German Other Deferred Tax Assets [Member]
Valuation Allowance [Line Items]
Deferred Tax Assets, Valuation Allowance	$ 45	$ 25

Income Taxes - Schedule of Gros

Income Taxes - Schedule of Gross Current and Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Income Taxes [Line Items]
Income Taxes Receivable	$ 165
Taxes Payable		$ (67)
Deferred Tax Assets, Net	5,977	5,743
Other Assets [Member]
Income Taxes [Line Items]
Income Taxes Receivable	364	0
Deferred Tax Assets, Net	6,259	5,754
Other liabilities
Income Taxes [Line Items]
Taxes Payable	(199)	(67)
Deferred Tax Liabilities, Net	$ 282	$ 11

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Valuation Allowance [Line Items]
Effective Tax Rate	13%	(25.00%)	11%
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Domestic Subsidiaries	$ 0
Internal Revenue Service (IRS)
Valuation Allowance [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards	842
State and Local Jurisdiction
Valuation Allowance [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards	258
His Majesty's Revenue and Customs (HMRC) [Member]
Valuation Allowance [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards	180
Bermuda
Valuation Allowance [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards	$ 7,797
Internal Revenue Service (IRS) | Foreign Tax Jurisdiction [Member]
Valuation Allowance [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%	21%	21%

Statutory Requirements - Statut

Statutory Requirements - Statutory EBS and BSCR (Details) - Bermuda - USD ($)	Dec. 31, 2024	Dec. 31, 2023
ALRe
Statutory Accounting Practices [Line Items]
EBS Capital and Surplus	$ 23,547,000,000	$ 18,245,000,000
BSCR ratio	420%	233%
Statutory Accounting Practices, Minimum Solvency Margin Required	$ 8,000,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets Threshold	2%
Statutory Accounting Practices, Minimum Solvency Margin, Assets Threshold	$ 500,000,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets In Excess of Threshold	1.50%
Statutory Accounting Practices, Minimum Margin of Solvency, Percentage of Enhanced	25%
AARe
Statutory Accounting Practices [Line Items]
EBS Capital and Surplus	$ 27,693,000,000	$ 26,647,000,000
BSCR ratio	238%	291%
Statutory Accounting Practices, Minimum Solvency Margin Required	$ 8,000,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets Threshold	2%
Statutory Accounting Practices, Minimum Solvency Margin, Assets Threshold	$ 500,000,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets In Excess of Threshold	1.50%
Statutory Accounting Practices, Minimum Margin of Solvency, Percentage of Enhanced	25%
ACRA
Statutory Accounting Practices [Line Items]
EBS Capital and Surplus	$ 3,866,000,000	$ 5,296,000,000
BSCR ratio	165%	219%
Statutory Accounting Practices, Minimum Solvency Margin, Assets Threshold	$ 500,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets In Excess of Threshold	1.50%
Statutory Accounting Practices, Minimum Margin of Solvency, Percentage of Enhanced	25%
Athene Co-Invest Reinsurance Affiliate 2A Ltd.
Statutory Accounting Practices [Line Items]
EBS Capital and Surplus	$ 4,277,000,000	$ 3,717,000,000
BSCR ratio	176%	353%
Statutory Accounting Practices, Minimum Solvency Margin, Assets Threshold	$ 500,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets In Excess of Threshold	1.50%
Statutory Accounting Practices, Minimum Margin of Solvency, Percentage of Enhanced	25%

Statutory Requirements - Narrat

Statutory Requirements - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
ALRe | Bermuda
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Minimum Solvency Margin Required	$ 8,000,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets Threshold	2%
Statutory Accounting Practices, Minimum Solvency Margin, Assets Threshold	$ 500,000,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets In Excess of Threshold	1.50%
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Capital And Surplus	$ (5,000,000)
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Statutory Net Income	973,000,000
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval	10,112,000,000	$ 7,023,000,000
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	17,623,000,000	14,474,000,000
EBS Capital and Surplus	$ 23,547,000,000	$ 18,245,000,000
BSCR ratio	420%	233%
AARe | Bermuda
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Minimum Solvency Margin Required	$ 8,000,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets Threshold	2%
Statutory Accounting Practices, Minimum Solvency Margin, Assets Threshold	$ 500,000,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets In Excess of Threshold	1.50%
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Capital And Surplus	$ 6,119,000,000
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Statutory Net Income	(2,695,000,000)
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval	10,207,000,000	$ 8,012,000,000
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	21,049,000,000	17,773,000,000
EBS Capital and Surplus	$ 27,693,000,000	$ 26,647,000,000
BSCR ratio	238%	291%
AADE | Delaware
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval	$ 0	$ 0
AAIA | Iowa
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Permitted Practice, Amount	38,000,000	(2,000,000)
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	3,899,000,000	3,306,000,000
ACRA | Bermuda
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Minimum Solvency Margin, Assets Threshold	$ 500,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets In Excess of Threshold	1.50%
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Capital And Surplus	$ 3,768,000,000
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Statutory Net Income	54,000,000
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval	1,044,000,000	1,614,000,000
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	4,521,000,000	5,092,000,000
EBS Capital and Surplus	$ 3,866,000,000	$ 5,296,000,000
BSCR ratio	165%	219%
Line of Credit [Member] | Athene Re USA IV | Vermont
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Permitted Practice, Amount	$ 86,000,000	$ 96,000,000

Statutory Requirements - Stat_2

Statutory Requirements - Statutory Permitted Practices (Details) - Bermuda $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
ALRe
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Capital And Surplus	$ (5)
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Statutory Net Income	973
AARe
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Capital And Surplus	6,119
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Statutory Net Income	(2,695)
ACRA
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Capital And Surplus	3,768
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Statutory Net Income	54
Athene Co-Invest Reinsurance Affiliate 2A Ltd.
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Capital And Surplus	51
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Statutory Net Income	$ 515

Statutory Requirements - Stat_3

Statutory Requirements - Statutory Maximum Dividends (Details) - Bermuda - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
AARe
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval	$ 10,207	$ 8,012
ACRA
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval	1,044	1,614
Athene Co-Invest Reinsurance Affiliate 2A Ltd.
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval	$ 877	$ 30

Statutory Requirements - Stat_4

Statutory Requirements - Statutory Capital and Surplus and Net Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
ALRe | Bermuda
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	$ 17,623	$ 14,474
Statutory Accounting Practices, Statutory Net Income Amount	3,140	832	$ 937
AARe | Bermuda
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	21,049	17,773
Statutory Accounting Practices, Statutory Net Income Amount	2,910	408	1,329
ACRA | Bermuda
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	4,521	5,092
Statutory Accounting Practices, Statutory Net Income Amount	841	297	(87)
AANY | New York
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	318	290
Statutory Accounting Practices, Statutory Net Income Amount	25	(3)	(23)
AAIA | Iowa
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	3,899	3,306
Statutory Accounting Practices, Statutory Net Income Amount	949	(79)	(486)
Athene Co-Invest Reinsurance Affiliate 2A Ltd. | Bermuda
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	4,569	1,952
Statutory Accounting Practices, Statutory Net Income Amount	$ 877	$ (759)	$ (2)

Related Parties - Narrative (De

Related Parties - Narrative (Details)	3 Months Ended			12 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2024 USD ($) board_member	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Mar. 31, 2024 USD ($)	Jul. 01, 2023 USD ($)	Feb. 08, 2023 USD ($)
Related Party Transaction [Line Items]
Backbook Value				$ 103,400,000,000
Assets contributed to consolidated VIEs						$ 8,007,000,000
Available-for-sale securities				184,491,000,000	$ 148,347,000,000
Investment funds				19,725,000,000	17,668,000,000
Policyholder Contract Deposit				253,637,000,000	204,670,000,000	173,616,000,000	$ 173,616,000,000
Proceeds from Investment Funds				525,000,000	360,000,000	1,704,000,000
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders				$ (920,000,000)	(539,000,000)		(63,000,000)
Investment expense						802,000,000
Management Fee, Percent				0.0335
Number Of Board Of Directors That Are Employees Of Company | board_member				6
Number Of Directors On Board | board_member				12
Liability for Future Policy Benefit, before Reinsurance				$ 49,902,000,000	53,287,000,000	42,110,000,000	42,110,000,000
Provision for Loan, Lease, and Other Losses						227,000,000
Payments to Noncontrolling Interests						63,000,000
Reinsurance Recoverables, Including Reinsurance Premium Paid				8,194,000,000	4,154,000,000
Payments of Ordinary Dividends, Common Stock				452,000,000	937,000,000	1,313,000,000
Purchases, issuances, sales and settlements, net				35,753,000,000	23,752,000,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases				52,244,000,000	32,616,000,000
Catalina
Related Party Transaction [Line Items]
Reinsurance Recoverables, Including Reinsurance Premium Paid				$ 4,309,000,000	0
Private Equity Funds
Related Party Transaction [Line Items]
Management Fee, Percent				0.045
Investments distributed to noncontrolling interests
Related Party Transaction [Line Items]
Payments to Noncontrolling Interests	$ 1,107,000,000			$ 1,107,000,000	0	0
Distribution of Marketable Securities to Stockholders as Dividends
Related Party Transaction [Line Items]
Payments of Ordinary Dividends, Common Stock				499,000,000	0	0
Revolving Credit Facility
Related Party Transaction [Line Items]
Borrowing capacity				1,250,000,000
Noncontrolling interests
Related Party Transaction [Line Items]
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders				$ (920,000,000)	(539,000,000)		$ (63,000,000)
ACRA
Related Party Transaction [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent				37%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners				63%
Athene Co-Invest Reinsurance Affiliate 2A Ltd.
Related Party Transaction [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent				37%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners				63%
Investments [Member]
Related Party Transaction [Line Items]
Other Commitment				$ 24,000,000,000
Related Party
Related Party Transaction [Line Items]
Available-for-sale securities				19,127,000,000	14,009,000,000
Investment funds				1,853,000,000	1,632,000,000
Policyholder Contract Deposit				6,678,000,000	8,599,000,000
Other Commitment								$ 2,500,000,000		$ 3,300,000,000
Proceeds from Investment Funds				507,000,000	301,000,000	1,543,000,000
Other investments				331,000,000	343,000,000
Investment expense				1,269,000,000	987,000,000	775,000,000
Other Liabilities				4,707,000,000	774,000,000
Liability for Future Policy Benefit, before Reinsurance				25,000,000	9,000,000
Reinsurance Recoverables, Including Reinsurance Premium Paid				4,309,000,000	0
Related Party | Investment funds
Related Party Transaction [Line Items]
Purchases, issuances, sales and settlements, net				106,000,000	32,000,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases				106,000,000	32,000,000
Related Party | Catalina
Related Party Transaction [Line Items]
Reinsurance Recoverables, Including Reinsurance Premium Paid				4,309,000,000
Related Party | Distribution of Marketable Securities to Stockholders as Dividends
Related Party Transaction [Line Items]
Payments of Ordinary Dividends, Common Stock				141,000,000
Parent Company
Related Party Transaction [Line Items]
Other Liabilities				236,000,000	133,000,000
Notes Receivable				46,000,000	27,000,000
Payments of Ordinary Dividends, Common Stock				452,000,000	938,000,000	1,313,000,000
Parent Company | Distribution of Marketable Securities to Stockholders as Dividends
Related Party Transaction [Line Items]
Payments of Ordinary Dividends, Common Stock				499,000,000	0	0
Contingent Investment Fees
Related Party Transaction [Line Items]
Other Liabilities				289,000,000	213,000,000
Management Fees Associated with Investment Funds | Related Party
Related Party Transaction [Line Items]
Investment expense						$ 775,000,000
Other Liabilities				127,000,000	101,000,000
Management Fees Associated with Investment Funds | Related Party
Related Party Transaction [Line Items]
Investment expense				1,269,000,000	987,000,000
Performance Fee Target | Related Party
Related Party Transaction [Line Items]
Investment expense				$ 37,500,000
Performance Fee Target | Related Party | Minimum
Related Party Transaction [Line Items]
Performance Fee Target Percent				0
Performance Fee Target | Related Party | Maximum
Related Party Transaction [Line Items]
Performance Fee Target Percent				2
MidCap affiliates | Related Party
Related Party Transaction [Line Items]
Debt Securities				$ 1,938,000,000	1,844,000,000
Apollo | Sub-allocated assets | Related Party
Related Party Transaction [Line Items]
Base Management Fee				0.225%
Incremental Fee				0.15%
Apollo | Sub-allocated assets | Minimum | Related Party
Related Party Transaction [Line Items]
Sub-allocation fee percentage				0.065%
Apollo | Sub-allocated assets | Maximum | Related Party
Related Party Transaction [Line Items]
Sub-allocation fee percentage				0.70%
Athora Holding Ltd. [Member] | Related Party
Related Party Transaction [Line Items]
Investment funds				$ 1,033,000,000	1,082,000,000
Investments				1,310,000,000	1,331,000,000
Athora Holding Ltd. [Member] | Related Party | Investments [Member]
Related Party Transaction [Line Items]
Other Commitment				502,000,000
Athora Holding Ltd. [Member] | Related Party | Funding Agreements
Related Party Transaction [Line Items]
Policyholder Contract Deposit				$ 57,000,000	61,000,000
Athora Holding Ltd. [Member] | Related Party
Related Party Transaction [Line Items]
Number Of Days From Receipt Of Notice Of A Cession				30 days
Athora Holding Ltd. [Member] | Related Party | Maximum
Related Party Transaction [Line Items]
Percent Of Refusal To Reinsure Liabilities Ceded				0.50
Percent Of Refusal To Reinsure Liabilities Ceded From A Third Party				0.20
Percentage Of Liabilities				0.20
Percentage Of Fair Market Value Of Total Assets Of Subsidiary				0.03
Venerable Holdings, Inc. | Related Party
Related Party Transaction [Line Items]
Equity Method Investments				$ 178,000,000	181,000,000
Investment Interest Rate				6.257%
Venerable Holdings, Inc. | Related Party | Private Equity Funds
Related Party Transaction [Line Items]
Other investments				$ 331,000,000	343,000,000
Venerable Holdings, Inc. | Reinsurance agreement recapture
Related Party Transaction [Line Items]
Liability for Future Policy Benefit, before Reinsurance									$ 2,700,000,000
Other Nonrecurring Gain		$ 555,000,000
Provision for Loan, Lease, and Other Losses			$ 104,000,000
Apollo Athene Strategic Partnership Advisors, LLC [Member] | Related Party
Related Party Transaction [Line Items]
Investment funds				1,994,000,000	1,725,000,000
PK AirFinance [Member] | Related Party
Related Party Transaction [Line Items]
Available-for-sale securities				1,616,000,000	1,617,000,000
PK AirFinance [Member] | Related Party | Investments [Member]
Related Party Transaction [Line Items]
Other Commitment				40,000,000
Apollo Global Management , Inc. | Parent Company
Related Party Transaction [Line Items]
Long-term Line of Credit				0	0
Apollo Global Management , Inc. | Parent Company | Revolving Credit Facility
Related Party Transaction [Line Items]
Borrowing capacity				500,000,000
Wheels | Related Party
Related Party Transaction [Line Items]
Available-for-sale securities				984,000,000	981,000,000
Wheels | Related Party | Investments [Member]
Related Party Transaction [Line Items]
Other Commitment				100,000,000
Catalina | Related Party
Related Party Transaction [Line Items]
Other Liabilities				221,000,000	330,000,000
Investments				205,000,000
Atlas | Related Party
Related Party Transaction [Line Items]
Available-for-sale securities				3,245,000,000	1,008,000,000
Atlas | Related Party | Repurchase Agreements
Related Party Transaction [Line Items]
Investments				724,000,000	$ 921,000,000
Atlas | Related Party | Investments [Member]
Related Party Transaction [Line Items]
Other Commitment				2,977,000,000
Athene Apollo Dedicated Investment Program | Related Party
Related Party Transaction [Line Items]
Investment funds				238,000,000
Athene Apollo Dedicated Investment Program | Related Party | Investments [Member]
Related Party Transaction [Line Items]
Other Commitment				$ 324,000,000

Related Parties - Investment in

Related Parties - Investment in Athora (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Investment funds	$ 19,725	$ 17,668

Related Parties - Other Related

Related Parties - Other Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2022	Mar. 31, 2024	Jul. 01, 2023	Feb. 08, 2023
Related Party Transaction [Line Items]
Investment funds	$ 19,725				$ 19,725	$ 17,668
Policyholder Contract Deposit	253,637				253,637	204,670	$ 173,616	$ 173,616
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders					(920)	(539)		(63)
Available-for-sale securities	184,491				184,491	148,347
Securities Purchased under Agreements to Resell	935				935	947
Liability for Future Policy Benefit, before Reinsurance	49,902				49,902	53,287	42,110	42,110
Provision for Loan, Lease, and Other Losses							227
Proceeds from Sale of Debt Securities, Available-for-sale					21,689	6,464	9,421
Payments to Acquire Investment Funds					2,694	2,461	5,755
Related Party
Related Party Transaction [Line Items]
Investment funds	1,853				1,853	1,632
Other Commitment									$ 2,500		$ 3,300
Policyholder Contract Deposit	6,678				6,678	8,599
Other investments	331				331	343
Available-for-sale securities	19,127				19,127	14,009
Other Liabilities	4,707				4,707	774
Liability for Future Policy Benefit, before Reinsurance	25				25	9
Payments to Acquire Investment Funds					2,397	2,334	$ 4,738
Parent Company
Related Party Transaction [Line Items]
Other Liabilities	$ 236				$ 236	133
ACRA
Related Party Transaction [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	63%				63%
Noncontrolling Interest, Ownership Percentage by Parent	37%				37%
Apollo Athene Strategic Partnership Advisors, LLC [Member] | Related Party
Related Party Transaction [Line Items]
Investment funds	$ 1,994				$ 1,994	1,725
Strategic Partnership Capacity	2,875				2,875
Venerable Holdings, Inc. | Reinsurance agreement recapture
Related Party Transaction [Line Items]
Liability for Future Policy Benefit, before Reinsurance										$ 2,700
Other Nonrecurring Gain		$ 555
Provision for Loan, Lease, and Other Losses			$ 104
Athora Holding Ltd. [Member] | Related Party
Related Party Transaction [Line Items]
Investment funds	1,033				1,033	1,082
Investments	1,310				1,310	1,331
Equity Securities, FV-NI	277				277	249
PK AirFinance [Member] | Related Party
Related Party Transaction [Line Items]
Available-for-sale securities	1,616				1,616	1,617
Wheels Donlen | Related Party
Related Party Transaction [Line Items]
Proceeds from Sale of Debt Securities, Available-for-sale				$ 1,479
Atlas | Related Party
Related Party Transaction [Line Items]
Available-for-sale securities	3,245				3,245	1,008
Athene Apollo Dedicated Investment Program | Related Party
Related Party Transaction [Line Items]
Investment funds	238				238
Payments to Acquire Investment Funds	65
Investments [Member]
Related Party Transaction [Line Items]
Other Commitment	24,000				24,000
Investments [Member] | Athora Holding Ltd. [Member] | Related Party
Related Party Transaction [Line Items]
Other Commitment	502				502
Investments [Member] | PK AirFinance [Member] | Related Party
Related Party Transaction [Line Items]
Other Commitment	40				40
Investments [Member] | Atlas | Related Party
Related Party Transaction [Line Items]
Other Commitment	2,977				2,977
Investments [Member] | Athene Apollo Dedicated Investment Program | Related Party
Related Party Transaction [Line Items]
Other Commitment	324				324
Noncontrolling interests
Related Party Transaction [Line Items]
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders					(920)	(539)		$ (63)
Funding Agreements | Athora Holding Ltd. [Member] | Related Party
Related Party Transaction [Line Items]
Policyholder Contract Deposit	$ 57				$ 57	$ 61

Related Parties - Noncontrollin

Related Parties - Noncontrolling Interests (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Noncontrolling Interests, Increase from Contributions from Noncontrolling Interests	$ 954	$ 996	$ 1,047
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(920)	(539)	(63)
Noncontrolling interests
Related Party Transaction [Line Items]
Noncontrolling Interests, Increase from Contributions from Noncontrolling Interests	954	996	1,047
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	$ (920)	$ (539)	$ (63)

Commitments and Contingencies -

Commitments and Contingencies - Pledged Assets and Funds in Trust (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Financial Instruments Owned and Pledged as Collateral [Line Items]
Investment funds	$ 19,725	$ 17,668
Derivative assets	8,154	5,298
Restricted Cash and Cash Equivalents	943
Total restricted assets	79,501	49,643
Asset Pledged as Collateral
Financial Instruments Owned and Pledged as Collateral [Line Items]
Debt Securities, Available-for-sale, Restricted	46,337	32,458
Debt Securities, Trading, Restricted	1,665	139
Equity Securities, FV-NI, Restricted	286	80
Investment funds	777	409
Derivative assets	91	73
Short-term investments, at fair value	2	153
Other investments	1,507	313
Restricted Cash and Cash Equivalents	953	1,761
Mortgage loans	$ 27,883	$ 14,257

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Mar. 31, 2024	Dec. 31, 2023	Feb. 08, 2023	Dec. 31, 2022
Other Commitments [Line Items]
Letters of Credit Outstanding, Amount	$ 1,300
Advances from FHLB	15,600		$ 6,500
Policyholder Contract Deposit	$ 253,637		204,670		$ 173,616
Investment Period For Commitments	5 years
Loss Contingency Accrual, Insurance-related Assessment, Premium Tax Offset	$ 11
Other Nonrecurring Expense	152
Loss Contingency, Undiscounted Amount of Insurance-related Assessment Liability	(18)
Investments [Member]
Other Commitments [Line Items]
Other Commitment	24,000
Related Party
Other Commitments [Line Items]
Other Commitment		$ 2,500		$ 3,300
Policyholder Contract Deposit	6,678		8,599
Other Commitment, to be Paid, Year Three				400
Other Commitment, to be Paid, Year Five				$ 2,900
Guarantor Obligations, Current Carrying Value	0
Secured Funding Agreements
Other Commitments [Line Items]
Policyholder Contract Deposit	14,800		6,000
Athene Global Funding | Funding Agreements
Other Commitments [Line Items]
Maximum borrowing capacity	10,200
Policyholder Contract Deposit	$ 24,100		$ 19,900

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2022
Segment Reporting [Abstract]
Revenues	$ 20,689	$ 28,194		$ 7,623
Cost of funds	7,702	5,650		3,755
Other operating expenses	467	487		466
Interest and other financing costs	465	436		279
Income before income taxes	5,634	4,591		(5,662)
Other Segment Items	5,103	4,281		(2,853)
Premiums	1,318	12,749		11,638
Income tax expense (benefit)	730	(1,161)		(646)
Net income (loss)	$ 4,904	$ 5,752	$ (5,016)	$ (5,016)

Schedule I Summary of Investm_2

Schedule I Summary of Investments - Other Than Investments in Related Parties (Details) $ in Millions	Dec. 31, 2024 USD ($)
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	$ 280,298
Amount Shown on Consolidated Balance Sheet	262,283
Trading securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	1,935
Fair Value	1,583
Amount Shown on Consolidated Balance Sheet	1,583
Fixed Maturities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	182,651
Fair Value	166,947
Amount Shown on Consolidated Balance Sheet	166,947
Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	1,358
Fair Value	1,290
Amount Shown on Consolidated Balance Sheet	1,290
Mortgage loans, net of allowances
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	65,474
Amount Shown on Consolidated Balance Sheet	63,239
Investment funds
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	107
Amount Shown on Consolidated Balance Sheet	107
Policy loans
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	318
Amount Shown on Consolidated Balance Sheet	318
Funds withheld at interest
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	18,866
Amount Shown on Consolidated Balance Sheet	18,866
Derivative
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	8,154
Amount Shown on Consolidated Balance Sheet	8,154
Short-term Investments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	456
Amount Shown on Consolidated Balance Sheet	447
Other investments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	2,914
Amount Shown on Consolidated Balance Sheet	2,915
US government and agencies | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	8,413
Fair Value	7,151
Amount Shown on Consolidated Balance Sheet	7,151
US state, municipal and political subdivisions | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	1,167
Fair Value	921
Amount Shown on Consolidated Balance Sheet	921
Foreign governments | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	2,082
Fair Value	1,568
Amount Shown on Consolidated Balance Sheet	1,568
Public utilities | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	15,496
Fair Value	13,669
Amount Shown on Consolidated Balance Sheet	13,669
Redeemable preferred stock | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	1,115
Fair Value	1,115
Amount Shown on Consolidated Balance Sheet	1,115
Other corporate | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	78,375
Fair Value	68,774
Amount Shown on Consolidated Balance Sheet	68,774
CLO | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	29,524
Fair Value	29,182
Amount Shown on Consolidated Balance Sheet	29,182
ABS | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	24,779
Fair Value	24,201
Amount Shown on Consolidated Balance Sheet	24,201
CMBS | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	11,158
Fair Value	10,741
Amount Shown on Consolidated Balance Sheet	10,741
RMBS | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	8,587
Fair Value	8,015
Amount Shown on Consolidated Balance Sheet	8,015
Industrial, miscellaneous and all other common stock | Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	9
Fair Value	9
Amount Shown on Consolidated Balance Sheet	9
Nonredeemable preferred stocks | Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	1,325
Fair Value	1,259
Amount Shown on Consolidated Balance Sheet	1,259
Financial Service | Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	0
Fair Value	0
Amount Shown on Consolidated Balance Sheet	0
Convertibles and Bonds with Warrants Attached | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	20
Fair Value	27
Amount Shown on Consolidated Balance Sheet	27
Public Utilities [Member] | Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	24
Fair Value	22
Amount Shown on Consolidated Balance Sheet	$ 22

Schedule II - Condensed Finan_2

Schedule II - Condensed Financial Information of Registrant - Condensed Balance Sheet (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Condensed Financial Statements, Captions [Line Items]
Available-for-sale securities	$ 184,491	$ 148,347
Debt Securities, Available-for-sale, Amortized Cost	200,247	162,016
Accumulated other comprehensive income (loss)	(5,465)	(5,569)	$ (7,321)
Investment funds	19,725	17,668
Other Assets	11,253	10,179
Assets	363,343	300,579
Long-term Debt	6,309	4,209
Liabilities	337,469	279,344
Additional Paid in Capital	19,588	19,499
Retained Earnings (Accumulated Deficit)	2,237	(92)
Stockholders' Equity Attributable to Parent, Total	16,360	13,838
Liabilities and Equity	363,343	300,579
Parent Company
Condensed Financial Statements, Captions [Line Items]
Accumulated other comprehensive income (loss)	(5,465)	(5,569)
Cash and Cash Equivalents, at Carrying Value	807	326
Related party investments	1,330	1,331
Other Assets	433	400
Notes Receivable	46	27
Intercompany Investments	21,750	16,577
Assets	24,489	18,669
Long-term Debt	6,309	4,209
Other Liabilities	236	133
Other Notes Payable	1,584	489
Liabilities	8,129	4,831
Additional Paid in Capital	19,588	19,499
Retained Earnings (Accumulated Deficit)	2,237	(92)
Stockholders' Equity Attributable to Parent, Total	16,360	13,838
Liabilities and Equity	24,489	18,669
Investments	123	8
Parent Company | Apollo Global Management , Inc. | Revolving Credit Facility
Condensed Financial Statements, Captions [Line Items]
Intercompany Note Receivable	$ 142	$ 109
Series A Preferred Stock
Condensed Financial Statements, Captions [Line Items]
Preferred Stock, Par or Stated Value Per Share	$ 1	$ 1
Preferred Stock, Liquidation Preference, Value	$ 863	$ 863
Preferred Stock, Shares Authorized	34,500	0
Preferred Stock, Shares Issued	34,500	0
Preferred Stock, Shares Outstanding	34,500	0
Preferred Stock, Value, Outstanding	$ 0	$ 0
Series A Preferred Stock | Parent Company
Condensed Financial Statements, Captions [Line Items]
Preferred Stock, Value, Outstanding	$ 0	$ 0
Series B Preferred Stock
Condensed Financial Statements, Captions [Line Items]
Preferred Stock, Par or Stated Value Per Share	$ 1	$ 1
Preferred Stock, Liquidation Preference, Value	$ 345	$ 345
Preferred Stock, Shares Authorized	13,800	0
Preferred Stock, Shares Issued	13,800	0
Preferred Stock, Shares Outstanding	13,800	0
Preferred Stock, Value, Outstanding	$ 0	$ 0
Series B Preferred Stock | Parent Company
Condensed Financial Statements, Captions [Line Items]
Preferred Stock, Value, Outstanding	$ 0	$ 0
Series C Preferred Stock
Condensed Financial Statements, Captions [Line Items]
Preferred Stock, Par or Stated Value Per Share	$ 1	$ 1
Preferred Stock, Liquidation Preference, Value	$ 600	$ 600
Preferred Stock, Shares Authorized	24,000	0
Preferred Stock, Shares Issued	24,000	0
Preferred Stock, Shares Outstanding	24,000	0
Preferred Stock, Value, Outstanding	$ 0	$ 0
Series C Preferred Stock | Parent Company
Condensed Financial Statements, Captions [Line Items]
Preferred Stock, Value, Outstanding	$ 0	$ 0
Series D Preferred Stock
Condensed Financial Statements, Captions [Line Items]
Preferred Stock, Par or Stated Value Per Share	$ 1	$ 1
Preferred Stock, Liquidation Preference, Value	$ 575	$ 575
Preferred Stock, Shares Authorized	23,000	0
Preferred Stock, Shares Issued	23,000	0
Preferred Stock, Shares Outstanding	23,000	0
Preferred Stock, Value, Outstanding	$ 0	$ 0
Series D Preferred Stock | Parent Company
Condensed Financial Statements, Captions [Line Items]
Preferred Stock, Value, Outstanding	$ 0	$ 0
Series E Preferred Stock
Condensed Financial Statements, Captions [Line Items]
Preferred Stock, Par or Stated Value Per Share	$ 1	$ 1
Preferred Stock, Liquidation Preference, Value	$ 500	$ 500
Preferred Stock, Shares Authorized	20,000	0
Preferred Stock, Shares Issued	20,000	0
Preferred Stock, Shares Outstanding	20,000	0
Preferred Stock, Value, Outstanding	$ 0	$ 0
Series E Preferred Stock | Parent Company
Condensed Financial Statements, Captions [Line Items]
Preferred Stock, Value, Outstanding	$ 0	$ 0
Common Class A [Member]
Condensed Financial Statements, Captions [Line Items]
Common stock issued (in shares)	203,800,000	203,800,000
Common stock, par value (in USD per share)	$ 0.001	$ 0.001
Common stock outstanding (in shares)	203,800,000	203,800,000
Common stock authorized (in shares)	425,000,000	425,000,000
Common Stock, Value, Issued	$ 0	$ 0
Common Class A [Member] | Parent Company
Condensed Financial Statements, Captions [Line Items]
Common Stock, Value, Issued	0	0
Related Party | Parent Company
Condensed Financial Statements, Captions [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	58	14
Other Assets	$ 153	$ 121

Schedule II - Condensed Finan_3

Schedule II - Condensed Financial Information of Registrant - Condensed Income Statement (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Condensed Financial Statements, Captions [Line Items]
Gain (Loss) on Investments	$ 2,045	$ 1,428	$ (12,706)
Other Income	19	591	(28)
Revenues, Total	20,689	28,194	7,623
Policy and other operating expenses	2,213	1,848	1,495
Total benefits and expenses	15,055	23,603	13,285
Income tax expense (benefit)	730	(1,161)	(646)
Net Income (Loss) Attributable to Parent	3,461	4,665	(2,910)
Less: Preferred stock dividends	181	181	141
Net income (loss) available to Athene Holding Ltd. common shareholder	3,280	4,484	(3,051)
Comprehensive income (loss) available to Athene Holding Ltd. shareholders	3,565	6,414	(10,231)
Parent Company
Condensed Financial Statements, Captions [Line Items]
Net investment income	(29)	103	65
Gain (Loss) on Investments	69	0	31
Other Income	1	2	0
Revenues, Total	41	105	96
Policy and other operating expenses	459	345	304
Total benefits and expenses	459	345	304
Income (Loss) from Continuing Operations before Income Taxes, Equity Earnings in Subsidiaries	(418)	(240)	(208)
Income tax expense (benefit)	(70)	(36)	1
Income (Loss) from Subsidiaries, Net of Tax	3,809	4,869	(2,701)
Net Income (Loss) Attributable to Parent	3,461	4,665	(2,910)
Less: Preferred stock dividends	181	181	141
Net income (loss) available to Athene Holding Ltd. common shareholder	3,280	4,484	(3,051)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	104	1,749	(7,321)
Comprehensive income (loss) available to Athene Holding Ltd. shareholders	3,565	6,414	(10,231)
Parent Company | Related Party
Condensed Financial Statements, Captions [Line Items]
Net investment income	(80)	85	58
Policy and other operating expenses	$ 127	$ 106	$ 99

Schedule II - Condensed Finan_4

Schedule II - Condensed Financial Information of Registrant - Condensed Cash Flows (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities		$ 1,876	$ 4,983	$ 6,258
Cash flows from investing activities
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale		42,898	14,484	18,564
Proceeds from Investment Funds		525	360	1,704
Short-term investments		2,670	3,507	604
Available-for-sale securities		(80,212)	(37,263)	(36,684)
Payments to Acquire Investment Funds		(2,694)	(2,461)	(5,755)
Payments to Acquire Short-term Investments		2,555	2,612	2,632
Payments for (Proceeds from) Other Investing Activities		(1,066)	378	(152)
Net cash provided by (used in) investing activities		(61,918)	(43,650)	(34,375)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from Issuance of Preferred Stock and Preference Stock		0	0	487
Payments of Ordinary Dividends, Preferred Stock and Preference Stock		(226)	(136)	(141)
Payments of Ordinary Dividends, Common Stock		(452)	(937)	(1,313)
Proceeds from (Payments for) Other Financing Activities		(317)	739	461
Net cash provided by financing activities		59,425	44,767	26,472
Net increase (decrease) in cash and cash equivalents		(620)	6,110	(1,660)
Cash and cash equivalents at beginning of year	[1]	14,879	8,769	10,429
Cash and cash equivalents at end of year	[1]	14,259	14,879	8,769
Cash paid for interest		517	498	244
Proceeds from Contributions from Parent		0	1,250	0
Dividend Declared
Net Cash Provided by (Used in) Financing Activities [Abstract]
Payments of Distributions to Affiliates		0	0	2,145
Distribution of Marketable Securities to Stockholders as Dividends
Net Cash Provided by (Used in) Financing Activities [Abstract]
Payments of Ordinary Dividends, Common Stock		(499)	0	0
Parent Company
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities		(336)	(326)	(248)
Proceeds from Sale of Other Investments		42	3	21
Payments to Acquire Investments		(891)	(8)	(244)
Cash flows from investing activities
Payments to Acquire Additional Interest in Subsidiaries		(541)	(335)	(275)
Intercompany Receipts on Loans to Subsidiary		8	24	333
Intercompany Payments to Fund Loans to Subsidiary		(411)	(103)	(328)
Payments for (Proceeds from) Other Investing Activities		(2)	(19)	46
Net cash provided by (used in) investing activities		(1,795)	(438)	(447)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from Issuance of Long-term Debt		2,169	589	399
Proceeds from Related Party Debt		1,551	1,135	1,085
Repayments of Notes Payable		(475)	(1,545)	(265)
Proceeds from Issuance of Preferred Stock and Preference Stock		0	0	487
Payments of Ordinary Dividends, Preferred Stock and Preference Stock		(226)	(136)	(141)
Payments of Ordinary Dividends, Common Stock		(452)	(938)	(1,313)
Proceeds from (Payments for) Other Financing Activities		45	(6)	(2)
Net cash provided by financing activities		2,612	349	250
Net increase (decrease) in cash and cash equivalents		481	(415)	(445)
Cash and cash equivalents at beginning of year		326	741	1,186
Cash and cash equivalents at end of year		807	326	741
Cash paid for interest		239	139	111
Non-cash Capital Contribution to Related Party		693	0	0
Transfer to Investments		429	0	82
Proceeds from Contributions from Parent		0	1,250	0
Parent Company | Dividend Declared
Net Cash Provided by (Used in) Financing Activities [Abstract]
Payments of Distributions to Affiliates		0	0	2,145
Parent Company | Distribution of Marketable Securities to Stockholders as Dividends
Net Cash Provided by (Used in) Financing Activities [Abstract]
Payments of Ordinary Dividends, Common Stock		(499)	0	0
Parent Company | Related Party
Condensed Financial Statements, Captions [Line Items]
Payments to Acquire Investments		$ (205)	$ (8)	$ (195)
[1] 1 Includes cash and cash equivalents, restricted cash and cash and cash equivalents of consolidated variable interest entities.

Schedule II - Condensed Finan_5

Schedule II - Condensed Financial Information of Registrant - Condensed Footnotes of Parent (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2022
Condensed Financial Statements, Captions [Line Items]
Dividends				$ 2,752
Parent Company
Condensed Financial Statements, Captions [Line Items]
Contribution of Property	$ 1,234	$ 335	$ 275
SEC Schedule, 12-04, Cash Dividends Paid to Registrant, Subsidiaries and Equity Method Investees	0
ALRe | Parent Company
Condensed Financial Statements, Captions [Line Items]
Maximum borrowing capacity	$ 4,000
Line of Credit Facility, Interest Rate at Period End	2.29%
Long-term Line of Credit	$ 1,562	486
ALRe | Parent Company | Revolving Credit Facility
Condensed Financial Statements, Captions [Line Items]
Intercompany Note Receivable	$ 0	0
Intercompany Note Receivable Interest Rate	2.29%
Revolving note receivable, borrowing capacity	$ 4,000
Athene USA Corporation [Member] | Parent Company
Condensed Financial Statements, Captions [Line Items]
Maximum borrowing capacity	$ 500
Line of Credit Facility, Interest Rate at Period End	4.08%
Long-term Line of Credit	$ 18	0
Athene USA Corporation [Member] | Parent Company | Revolving Credit Facility
Condensed Financial Statements, Captions [Line Items]
Intercompany Note Receivable	$ 0	41
Intercompany Note Receivable Interest Rate	4.08%
Revolving note receivable, borrowing capacity	$ 500
Athene Life Re International Ltd. [Member] | Parent Company | Revolving Credit Facility
Condensed Financial Statements, Captions [Line Items]
Intercompany Note Receivable	0	$ 0
Revolving note receivable, borrowing capacity	$ 100

Schedule III - Supplementary _2

Schedule III - Supplementary Insurance Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Present Value of Future Profits	$ 7,173	$ 5,979	$ 4,466
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Liability for Future Policy Benefit, Loss, Claim and Loss Expense	307,567	261,708	218,696
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Other Policy Claim and Benefit Payable	107	98	129
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Premium Revenue	1,318	12,749	11,638
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Net Investment Income	14,481	11,130	7,571
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Benefit, Claim, Loss and Settlement Expenses	11,901	21,067	11,346
Supplementary Insurance Information, Amortization of Deferred Policy Acquisition Costs and Value of Business Acquired	941	688	444
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Other Operating Expense	$ 2,213	$ 1,848	$ 1,495

Schedule IV - Reinsurance (Deta

Schedule IV - Reinsurance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Gross	$ 20,801	$ 22,708	$ 24,433
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Ceded	24,255	27,107	25,399
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Assumed	7,101	8,242	2,355
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Net	$ 3,647	$ 3,843	$ 1,389
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Percentage Assumed to Net	194.70%	214.50%	169.50%
Direct	$ 1,089	$ 10,525	$ 11,373
Ceded Premiums Earned	84	89	112
Reinsurance assumed	313	2,313	377
Premiums	$ 1,318	$ 12,749	$ 11,638
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Premium, Percentage Assumed to Net	23.70%	18.10%	3.20%

Schedule V - Valuation and Qu_2

Schedule V - Valuation and Qualifying Accounts (Details) - SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount	$ 48	$ 25	$ 105	$ 66
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense	23	148	53
SEC Schedule, 12-09, Valuation Allowances and Reserves, Business Acquired	0	0	0
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction	$ 0	$ (228)	$ (14)