Brighthouse Financial (BHF) 10-K 28 Feb 25 2024 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2024	Feb. 21, 2025	Jun. 30, 2024
Entity Listings [Line Items]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity File Number	001-37905
Entity Central Index Key	0001685040
Entity Registrant Name	Brighthouse Financial, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-3846992
Entity Address, Address Line One	11225 North Community House Road
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28277
City Area Code	(980)
Local Phone Number	365-7100
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 2.6
Entity Common Stock, Shares Outstanding		58,060,494
Common Stock, par value $0.01 per share
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	BHF
Security Exchange Name	NASDAQ
Depositary Shares, each representing a 1/1,000th interest in a share of 6.600% Non-Cumulative Preferred Stock, Series A
Entity Listings [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share of 6.600% Non-Cumulative Preferred Stock, Series A
Trading Symbol	BHFAP
Security Exchange Name	NASDAQ
Depositary Shares, each representing a 1/1,000th interest in a share of 6.750% Non-Cumulative Preferred Stock, Series B
Entity Listings [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share of 6.750% Non-Cumulative Preferred Stock, Series B
Trading Symbol	BHFAO
Security Exchange Name	NASDAQ
Depositary Shares, each representing a 1/1,000th interest in a share of 5.375% Non-Cumulative Preferred Stock, Series C
Entity Listings [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share of 5.375% Non-Cumulative Preferred Stock, Series C
Trading Symbol	BHFAN
Security Exchange Name	NASDAQ
Depositary Shares, each representing a 1/1,000th interest in a share of 4.625% Non-Cumulative Preferred Stock, Series D
Entity Listings [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share of 4.625% Non-Cumulative Preferred Stock, Series D
Trading Symbol	BHFAM
Security Exchange Name	NASDAQ
6.250% Junior Subordinated Debentures due 2058
Entity Listings [Line Items]
Title of 12(b) Security	6.250% Junior Subordinated Debentures due 2058
Trading Symbol	BHFAL
Security Exchange Name	NASDAQ

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Firm ID	34
Auditor Location	Charlotte, North Carolina

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Investments:
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $87,603 and $87,131, respectively; allowance for credit losses of $81 and $21, respectively)	$ 80,055	$ 80,991
Equity securities, at estimated fair value	77	102
Mortgage loans (net of allowance for credit losses of $178 and $137, respectively)	23,286	22,508
Policy loans	2,024	1,331
Limited partnerships and limited liability companies	4,827	4,946
Short-term investments, principally at estimated fair value	1,868	1,169
Other invested assets, principally at estimated fair value (net of allowance for credit losses of $0 and $13, respectively)	5,250	4,409
Total investments	117,387	115,456
Cash and cash equivalents	5,045	3,851
Accrued investment income	1,277	1,183
Premiums, reinsurance and other receivables (net of allowance for credit losses of $3 and $3, respectively)	21,126	19,761
Deferred policy acquisition costs and value of business acquired	4,710	4,872
Current income tax recoverable	19	27
Deferred income tax asset	1,875	1,893
Market risk benefit assets	1,092	656
Other assets	370	370
Separate account assets	85,636	88,271
Total assets	238,537	236,340
Liabilities
Future policy benefits	31,475	32,569
Policyholder account balances	87,989	81,068
Market risk benefit liabilities	8,329	10,323
Other policy-related balances	3,878	3,836
Payables for collateral under securities loaned and other transactions	3,891	3,670
Long-term debt	3,155	3,156
Other liabilities	9,160	8,439
Separate account liabilities	85,636	88,271
Total liabilities	233,513	231,332
Contingencies, Commitments and Guarantees (Note 17)
Brighthouse Financial, Inc.’s stockholders’ equity:
Preferred stock, par value $0.01 per share; $1,753 aggregate liquidation preference	0	0
Common stock, par value $0.01 per share; 1,000,000,000 shares authorized; 123,480,326 and 122,818,568 shares issued, respectively; 58,629,049 and 63,503,355 shares outstanding, respectively	1	1
Additional paid-in capital	13,927	14,004
Retained earnings (deficit)	(1,119)	(1,507)
Treasury stock, at cost; 64,851,277 and 59,315,213 shares, respectively	(2,572)	(2,309)
Accumulated other comprehensive income (loss)	(5,278)	(5,246)
Total Brighthouse Financial, Inc.’s stockholders’ equity	4,959	4,943
Noncontrolling interests	65	65
Total equity	5,024	5,008
Total liabilities and equity	$ 238,537	$ 236,340

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets
Amortized cost of fixed maturity securities available-for-sale	$ 87,603	$ 87,131
Fixed maturity securities, allowance for credit losses	81	21
Mortgage loans, allowance for credit losses	178	137
Leveraged leases, allowance for credit losses	0	13
Premiums, reinsurance and other, allowance for credit losses	$ 3	$ 3
Equity
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, aggregate liquidation preference	$ 1,753	$ 1,753
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	123,480,326	122,818,568
Common stock, shares outstanding	58,629,049	63,503,355
Treasury Stock, Common, Shares	64,851,277	59,315,213

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues
Premiums	$ 770	$ 828	$ 662
Universal life and investment-type product policy fees	2,116	2,295	2,435
Net investment income	5,222	4,664	4,138
Other revenues	579	483	478
Net investment gains (losses)	(295)	(246)	(248)
Net derivative gains (losses)	(3,668)	(3,907)	(592)
Total revenues	4,724	4,117	6,873
Expenses
Policyholder benefits and claims (including liability remeasurement gains (losses) of ($978), ($234), $137, respectively)	2,294	2,676	2,193
Interest credited to policyholder account balances	2,136	1,825	1,338
Amortization of deferred policy acquisition costs and value of business acquired	599	620	629
Change in market risk benefits	(2,673)	(1,507)	(4,104)
Other expenses	1,946	1,977	2,085
Total expenses	4,302	5,591	2,141
Income (loss) before provision for income tax	422	(1,474)	4,732
Provision for income tax expense (benefit)	29	(367)	848
Net income (loss)	393	(1,107)	3,884
Less: Net income (loss) attributable to noncontrolling interests	5	5	5
Net income (loss) attributable to Brighthouse Financial, Inc.	388	(1,112)	3,879
Less: Preferred stock dividends	102	102	104
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders	$ 286	$ (1,214)	$ 3,775
Earnings per common share
Basic	$ 4.67	$ (18.39)	$ 51.73
Diluted	$ 4.64	$ (18.39)	$ 51.30

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Liability for Future Policy Benefit, Remeasurement Gain (Loss)	$ (978)	$ (234)	$ 137

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 393	$ (1,107)	$ 3,884
Other comprehensive income (loss):
Unrealized investment gains (losses), net of related offsets	(1,037)	2,375	(14,503)
Unrealized gains (losses) on derivatives	118	(287)	309
Changes in instrument-specific credit risk on market risk benefits	352	(636)	2,344
Changes in discount rates on the liability for future policy benefits	543	(380)	4,075
Foreign currency translation adjustments	(19)	18	(22)
Defined benefit plans adjustment	3	(2)	8
Other comprehensive income (loss), before income tax	(40)	1,088	(7,789)
Income tax (expense) benefit related to items of other comprehensive income (loss)	8	(228)	1,636
Other comprehensive income (loss), net of income tax	(32)	860	(6,153)
Comprehensive income (loss)	361	(247)	(2,269)
Less: Comprehensive income (loss) attributable to noncontrolling interests, net of income tax	5	5	5
Comprehensive income (loss) attributable to Brighthouse Financial, Inc.	$ 356	$ (252)	$ (2,274)

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings (Deficit)	Treasury Stock, Common	Accumulated Other Comprehensive Income (Loss)	Brighthouse Financial, Inc.’s Stockholders’ Equity	Noncontrolling Interests
Beginning Balance at Dec. 31, 2021	$ 8,450	$ 0	$ 1	$ 14,154	$ (4,274)	$ (1,543)	$ 47	$ 8,385	$ 65
Treasury stock acquired in connection with share repurchases	(488)					(488)		(488)
Share-based compensation	14		0	25		(11)		14
Dividends on preferred stock	(104)			(104)				(104)
Change in noncontrolling interests	(5)							0	(5)
Net Income (Loss) Attributable to Parent	3,879				3,879			3,879
Net income (loss)	3,884								5
Other comprehensive income (loss), net of income tax	(6,153)						(6,153)	(6,153)
Ending Balance at Dec. 31, 2022	5,598	0	1	14,075	(395)	(2,042)	(6,106)	5,533	65
Treasury stock acquired in connection with share repurchases	(250)					(250)		(250)
Share-based compensation	14		0	31		(17)		14
Dividends on preferred stock	(102)			(102)				(102)
Change in noncontrolling interests	(5)							0	(5)
Net Income (Loss) Attributable to Parent	(1,112)				(1,112)			(1,112)
Net income (loss)	(1,107)								5
Other comprehensive income (loss), net of income tax	860						860	860
Ending Balance at Dec. 31, 2023	5,008	0	1	14,004	(1,507)	(2,309)	(5,246)	4,943	65
Treasury stock acquired in connection with share repurchases	(250)					(250)		(250)
Share-based compensation	12		0	25		(13)		12
Dividends on preferred stock	(102)			(102)				(102)
Change in noncontrolling interests	(5)							0	(5)
Net Income (Loss) Attributable to Parent	388				388			388
Net income (loss)	393								5
Other comprehensive income (loss), net of income tax	(32)						(32)	(32)
Ending Balance at Dec. 31, 2024	$ 5,024	$ 0	$ 1	$ 13,927	$ (1,119)	$ (2,572)	$ (5,278)	$ 4,959	$ 65

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)	$ 393	$ (1,107)	$ 3,884
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Amortization of premiums and accretion of discounts associated with investments, net	(330)	(282)	(233)
(Gains) losses on investments, net	264	232	248
(Gains) losses on derivatives, net	1,436	2,620	169
(Income) loss from equity method investments, net of dividends and distributions	41	83	110
Interest credited to policyholder account balances	2,136	1,825	1,338
Universal life and investment-type product policy fees	(2,116)	(2,295)	(2,435)
Change in market risk benefits, net	(2,073)	(875)	(3,335)
Change in accrued investment income	(113)	(215)	(113)
Change in premiums, reinsurance and other receivables	(1,451)	(1,280)	(1,374)
Change in deferred policy acquisition costs and value of business acquired, net	162	211	205
Change in income tax	30	(371)	796
Change in other assets	1,180	1,132	1,264
Change in future policy benefits and other policy-related balances	(281)	51	(1,960)
Change in other liabilities	402	95	176
Other, net	30	39	32
Net cash provided by (used in) operating activities	(290)	(137)	(1,228)
Cash flows from investing activities
Sales, maturities and repayments of fixed maturity securities	11,721	6,028	10,728
Sales, maturities and repayments of equity securities	46	33	53
Sales, maturities and repayments of mortgage loans	1,523	1,232	2,079
Sales, maturities and repayments of limited partnerships and limited liability companies	337	205	252
Purchases of fixed maturity securities	(11,998)	(8,866)	(15,799)
Purchases of equity securities	(7)	(14)	(37)
Purchases of mortgage loans	(2,377)	(813)	(5,321)
Purchases of limited partnerships and limited liability companies	(299)	(453)	(814)
Cash received in connection with freestanding derivatives	12,468	5,079	4,480
Cash paid in connection with freestanding derivatives	(11,865)	(5,428)	(4,275)
Net change in policy loans	(692)	(49)	(18)
Net change in short-term investments	(675)	(38)	772
Net change in other invested assets	(372)	(112)	(376)
Other, net	(4)	0	0
Net cash provided by (used in) investing activities	(2,194)	(3,196)	(8,276)
Cash flows from financing activities
Policyholder account balances: Deposits	30,410	21,989	31,693
Policyholder account balances: Withdrawals	(26,378)	(17,747)	(20,043)
Net change in payables for collateral under securities loaned and other transactions	221	(890)	(1,709)
Long-term debt repaid	(2)	(2)	(3)
Dividends on preferred stock	(102)	(102)	(104)
Treasury stock acquired in connection with share repurchases	(250)	(250)	(488)
Financing element on certain derivative instruments and other derivative related transactions, net	(204)	90	(185)
Other, net	(17)	(19)	(16)
Net cash provided by (used in) financing activities	3,678	3,069	9,145
Change in cash, cash equivalents and restricted cash	1,194	(264)	(359)
Cash, cash equivalents and restricted cash, beginning of year	3,851	4,115	4,474
Cash, cash equivalents and restricted cash, end of year	5,045	3,851	4,115
Supplemental disclosures of cash flow information
Net cash paid (received) for interest	151	151	152
Net cash paid (received) for income tax	13	7	44
Non-cash transactions:
Transfer of mortgage loans to affiliates	0	0	95
Transfer of limited partnerships and limited liability companies from affiliates	$ 0	$ 0	$ 99

Business, Basis of Presentation

Business, Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business, Basis of Presentation and Summary of Significant Accounting Policies	1. Business, Basis of Presentation and Summary of Significant Accounting Policies Business Brighthouse Financial, Inc. (“BHF” and, together with its subsidiaries, “Brighthouse Financial” or the “Company”) is a holding company formed in 2016 to own the legal entities that historically operated a substantial portion of MetLife, Inc.’s (together with its subsidiaries and affiliates, “MetLife”) former retail segment until becoming a separate, publicly-traded company in August 2017. Brighthouse Financial is one of the largest providers of annuity and life insurance products in the U.S. through multiple independent distribution channels and marketing arrangements with a diverse network of distribution partners. The Company is organized into the following reportable segments: Annuities; Life; Run-off; and Corporate & Other. Basis of Presentation The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to adopt accounting policies and make estimates and assumptions that affect amounts reported on the consolidated financial statements. In applying these policies and estimates, management makes subjective and complex judgments that frequently require assumptions about matters that are inherently uncertain. Many of these policies, estimates and related judgments are common in the insurance and financial services industries; others are specific to the Company’s business and operations. Actual results could differ from these estimates. Consolidation The accompanying consolidated financial statements include the accounts of Brighthouse Financial, as well as partnerships and limited liability companies (“LLC”) that the Company controls. Intercompany accounts and transactions have been eliminated. The Company uses the equity method of accounting for investments in limited partnerships and LLCs when it has more than a minor ownership interest or more than a minor influence over the investee’s operations. The Company generally recognizes its share of the investee’s earnings on a three-month lag in instances where the investee’s financial information is not sufficiently timely or when the investee’s reporting period differs from the Company’s reporting period. When the Company has virtually no influence over the investee’s operations, the investment is carried at fair value. Summary of Significant Accounting Policies Insurance Contract Obligations The Company has obligations under insurance contracts to pay benefits over an extended period of time. The Company establishes liabilities for future obligations under long-duration insurance contracts based on the accounting model appropriate for each type of contract or contract feature. Liabilities for insurance contract benefits are generally accrued over time as revenue is recognized, or established based on the balance that accrues to the contract holder. In addition, certain insurance contracts may contain features that are required to be measured at fair value separately from the base contracts, either as a market risk benefit (“MRB”) or embedded derivative. The discussion below provides an overview of the different accounting models for insurance contract obligations and the applicability of such models to the Company’s insurance products. Liability for Future Policy Benefits The Company establishes a liability for future policy benefits (“LFPB”) for non-participating term and whole life insurance and income annuities. LFPBs are accrued over time as revenue is recognized based on a net premium ratio. The net premium ratio is the portion of gross premiums required to provide for all future benefits. LFPBs are established using the Company’s current assumptions of future cash flows, discounted at a rate that approximates a single A corporate bond curve. The Company generally aggregates insurance contracts into groupings by issue year, product and segment for determining the net premium ratio and related LFPBs. The Company reviews cash flow assumptions regularly, and if they change significantly, LFPBs are adjusted by determining a revised net premium ratio. The revised net premium ratio is calculated as of contract inception using both actual historical experience and updated future cash flow assumptions. The recalculated net premium ratio is applied to derive a remeasurement gain or loss recognized in the current period net income. For insurance policies in-force as of December 31, 2020, January 1, 2021 is considered the contract inception date. The net premium ratio is also updated quarterly for the difference between actual and expected experience. The net premium ratio is not updated for changes in discount rate assumptions, as changes in the discount rate are updated quarterly and the impacts are reflected in other comprehensive income (loss) (“OCI”). The discount rate assumption is determined by developing a yield curve based on market observable yields for upper-medium grade fixed income instruments derived from an external index. The yield curve is applied to the expected future cash flows used in the measurement of LFPBs based on the duration characteristics of those liabilities. The most significant cash flow assumptions used in the establishment of LFPBs are mortality, policy lapses and market interest rates. See Note 3 for more information on the effect of changes in assumptions on the measurement of LFPBs. The Company also establishes an LFPB for participating term and whole life insurance using a net premium ratio and the Company’s current assumptions of future cash flows. Assumptions are determined at issuance of the policy and are not updated unless a premium deficiency exists. A premium deficiency exists when the LFPB plus the present value of expected future gross premiums are less than expected future benefits and expenses (based on current assumptions). When a premium deficiency exists, the Company will reduce any deferred acquisition costs and may also establish an additional liability to eliminate the deficiency. See Note 3 for more information on assumptions used in establishing LFPBs related to participating term and whole life insurance. Policyholder Account Balances The Company establishes a policyholder account balance liability for customer deposits on universal life insurance, universal life insurance with secondary guarantees (“ULSG”) and deferred annuity contracts. The policyholder account balance liability is equal to the sum of deposits, plus interest credited, less charges and withdrawals, excluding the impact of any applicable charge that may be incurred upon surrender. The Company also holds additional liabilities for certain product features including secondary guarantees on universal life insurance contracts and the crediting rates associated with index-linked annuities. Additional Liabilities for ULSG The Company establishes a liability in addition to the account balance for ULSG. These liabilities are determined by estimating the expected value of death benefits payable when the account balance is projected to be zero and recognizing those benefits ratably over the contract period based on total expected assessments. The benefits used in calculating the liabilities are based on the average benefits payable over a range of scenarios. The Company also maintains a liability for profits followed by losses on ULSG determined by projecting future earnings and establishing a liability to offset losses that are expected to occur in later years. Both ULSG liabilities are adjusted for the effects of unrealized investment gains and losses. The Company reviews cash flow assumptions regularly, and, if they change significantly, the liability for secondary guarantees is adjusted by a cumulative charge or credit to net income. Liabilities for secondary guarantees are presented within future policy benefits with changes in the liabilities reported in policyholder benefits and claims, except for the effects of unrealized investment gains and losses, which are reported in OCI. The most significant assumptions used in estimating liabilities for secondary guarantees are the general account rate of return, mortality, premium persistency, lapses and withdrawals. See Note 3 for more information on the effect of changes in assumptions on the measurement of liabilities for secondary guarantees. Market Risk Benefits on Annuity Guarantees MRBs are contracts or contract features that provide protection to the policyholder from capital markets risks by transferring such risks to the Company. MRBs are required to be separated from the deferred annuity host contract and measured at fair value. The Company establishes MRB assets and liabilities for guaranteed minimum benefits on variable annuity contracts including guaranteed minimum death benefits, guaranteed minimum income benefits (“GMIB”), guaranteed minimum accumulation benefits (“GMAB”) and guaranteed minimum withdrawal benefits (“GMWB”). MRB assets are also established for reinsured benefits related to these guarantees. Certain index-linked annuity products may also have guaranteed minimum benefits classified as MRBs. The measurement of fair value includes an adjustment for the risk that the Company fails to satisfy its obligations, which is referred to as nonperformance risk, as well as risk margin to capture the non-capital markets risks of the instrument, which represents the additional compensation a market participant would require to assume the risks related to the uncertainties in certain actuarial assumptions. MRBs are measured at estimated fair value, with changes reported in change in MRBs on the consolidated statements of operations, except for the change due to nonperformance risk, which is reported in OCI. See Note 4 for more information on the effect of changes in inputs and assumptions on the measurement of MRBs and Note 10 for more information on the determination of fair value of MRBs. Embedded Derivatives on Index-Linked Annuities The Company issues, and assumes through reinsurance, index-linked annuities which allow the policyholder to participate in returns from certain specified equity indices. The crediting rates associated with these features are classified as embedded derivatives and measured at estimated fair value, with changes in estimated fair value reported in net derivative gains (losses). These embedded derivatives are classified within policyholder account balances on the consolidated balance sheets. Embedded derivative liabilities are required to be separated from the deferred annuity host contract and measured at fair value. The estimated fair value is determined using a combination of an option pricing model and an option-budget approach. Under this approach, the Company estimates the cost of funding the crediting rate using option pricing and establishes that cost on the balance sheet as a reduction to the initial deposit amount. The estimate of fair value includes an adjustment for nonperformance risk, as well as a risk margin. Actuarial assumptions are reviewed at least annually, and if they change significantly, the estimated fair value is adjusted through net income. Capital market inputs used in the measurement of index-linked crediting rate embedded derivatives are updated quarterly through net income. The reduction to the initial deposit is accreted back up to the initial deposit over the estimated life of the contract. Embedded derivatives related to index-linked annuities are presented within policyholder account balances while changes in the estimated fair value are reported in net derivative gains (losses). For more information on the determination of estimated fair value of embedded derivatives, see Note 10. Recognition of Revenues and Deposits on Insurance Contracts Premiums related to traditional long-duration contracts are recognized as revenues when due from policyholders. When premiums for income annuities are due over a significantly shorter period than the period over which policyholder benefits are incurred, the Company establishes a deferred profit liability (“DPL”) for the excess of the gross premium over the net premium. DPLs are amortized into net income in proportion to the amount of expected future benefit payments. Assumptions used in the measurement of the DPL are updated at the same time as the related LFPBs, with the updated estimates used to recalculate the DPL as of contract inception. The remeasurement gain or loss from updating DPLs is recognized in current period net income along with the related change in LFPBs. Deposits related to universal life insurance, deferred annuity contracts and investment contracts are credited to policyholder account balances. Revenues from such contracts consist of asset-based investment management fees, cost of insurance charges, risk charges, policy administration fees and surrender charges. These fees, which are included in universal life and investment-type product policy fees, are recognized when assessed to the contract holder, except for non-level insurance charges which are deferred by the establishment of an unearned revenue liability and amortized over the expected life of the contracts. Premiums and policy fees are presented net of reinsurance. Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles The Company incurs significant costs in connection with acquiring new and renewal insurance business. Costs that are directly related to the successful acquisition or renewal of insurance contracts are capitalized as deferred policy acquisition costs (“DAC”). These costs mainly consist of commissions and include the portion of employees’ compensation and benefits related to time spent selling, underwriting or processing the issuance of new insurance contracts. All other acquisition-related costs are expensed as incurred. Value of business acquired (“VOBA”) is an intangible asset resulting from a business combination that represents the excess of book value over the estimated fair value of acquired insurance, annuity and investment-type contracts in-force as of the acquisition date. The Company amortizes DAC and VOBA in a manner that approximates a straight-line basis over the expected life of the related contracts. For life insurance contracts, amortization is based on projections of amounts of insurance in-force, while projections of policy counts are used for deferred annuity contracts and expected future benefits payments for income annuities. These assumptions are reviewed at least annually, and if they change significantly, updates are recognized through changes to future amortization. VOBA balances are tested annually to determine if the balance is deemed unrecoverable from expected future profits. All changes in DAC and VOBA balances are recorded to net income. Periodically, the Company modifies product benefits, features, rights or coverages that occur by the exchange of an existing contract for a new contract, or by amendment, endorsement, or rider to a contract, or by election or coverage within a contract. If a modification is considered to have substantially changed the contract, the associated DAC or VOBA is written off immediately through net income and any new acquisition costs associated with the replacement contract are deferred. If the modification does not substantially change the contract, the DAC or VOBA amortization on the original contract will continue and any acquisition costs associated with the related modification are expensed. The Company also has intangible assets representing deferred sales inducements (“DSI”), which are included in other assets, and unearned revenue liabilities, which are included in other policy-related balances. The Company defers sales inducements and unearned revenue and amortizes the balances using the same methodology and assumptions used to amortize DAC and VOBA. Reinsurance The Company enters into reinsurance arrangements pursuant to which it cedes certain insurance risks to unaffiliated reinsurers. Cessions under reinsurance agreements do not discharge the Company’s obligations as the primary insurer. The accounting for reinsurance arrangements depends on whether the arrangement provides indemnification against loss or liability relating to insurance risk in accordance with GAAP. For ceded reinsurance of existing in-force blocks of insurance contracts that transfer significant insurance risk, premiums, benefits and the amortization of DAC are reported net of reinsurance ceded. Amounts recoverable from reinsurers related to incurred claims and ceded reserves are included in premiums, reinsurance and other receivables and amounts payable to reinsurers included in other liabilities. If the Company determines that a reinsurance agreement does not expose the reinsurer to a reasonable possibility of a significant loss from insurance risk, the Company records the agreement using the deposit method of accounting. Deposits received are included in other liabilities and deposits made are included in premiums, reinsurance and other receivables. As amounts are paid or received, consistent with the underlying contracts, the deposit assets or liabilities are adjusted. Interest on such deposits is recorded as other revenues or other expenses, as appropriate. The funds withheld liability represents amounts withheld by the Company in accordance with the terms of the reinsurance agreements. Under certain reinsurance agreements, the Company withholds the funds rather than transferring the underlying investments and, as a result, records a funds withheld liability in other liabilities. The Company recognizes interest on funds withheld, included in other expenses, at rates defined by the terms of the agreement which may be contractually specified or directly related to the investment portfolio. Certain funds withheld arrangements may also contain embedded derivatives measured at fair value that are related to the investment return on the assets withheld. Embedded derivatives related to funds withheld arrangements are presented within policyholder account balances on the consolidated balance sheets, with changes in the estimated fair value reported in net derivative gains (losses). Reinsurance arrangements may also contain features classified as MRBs, including reinsurance of guaranteed minimum benefits associated with variable annuity contracts. The Company accounts for assumed reinsurance similar to directly written business. Investments Net Investment Income and Net Investment Gains (Losses) Income from investments is reported in net investment income, unless otherwise stated herein. Gains and losses on sales of investments, impairment losses and changes in valuation allowances are reported in net investment gains (losses), unless otherwise stated herein. Fixed Maturity Securities Available-For-Sale The Company’s fixed maturity securities are classified as available-for-sale and are reported at their estimated fair value. Unrealized investment gains and losses on these securities are recorded as a separate component of OCI, net of policy-related amounts and deferred income taxes. Publicly-traded security transactions are recorded on a trade date basis, while privately-placed and bank loan security transactions are recorded on a settlement date basis. Investment gains and losses on sales are determined on a specific identification basis. Interest income and prepayment fees are recognized when earned. Interest income is recognized using an effective yield method giving effect to amortization of premiums and accretion of discounts and is based on the estimated economic life of the securities, which for residential mortgage-backed securities (“RMBS”), commercial mortgage-backed securities (“CMBS”) and asset-backed securities (“ABS”) (collectively, “Structured Securities”) considers the estimated timing and amount of prepayments of the underlying loans. The amortization of premium and accretion of discount of fixed maturity securities also takes into consideration call and maturity dates. Amortization of premium and accretion of discount on Structured Securities considers the estimated timing and amount of prepayments of the underlying loans. Actual prepayment experience is periodically reviewed, and effective yields are recalculated when differences arise between the originally anticipated and the actual prepayments received and currently anticipated. Prepayment assumptions for Structured Securities are estimated using inputs obtained from third-party specialists and based on management’s knowledge of the current market. For credit-sensitive Structured Securities and certain prepayment-sensitive securities, the effective yield is recalculated on a prospective basis. For all other Structured Securities, the effective yield is recalculated on a retrospective basis. The Company regularly evaluates fixed maturity securities for declines in fair value to determine if a credit loss exists. This evaluation is based on management’s case-by-case evaluation of the underlying reasons for the decline in fair value including, but not limited to, an analysis of the gross unrealized losses by severity and financial condition of the issuer. For fixed maturity securities in an unrealized loss position, when the Company has the intent to sell the security, or it is more likely than not that the Company will be required to sell the security before recovery, the amortized cost basis of the security is written down to fair value through net investment gains (losses). For fixed maturity securities that do not meet the aforementioned criteria, management evaluates whether the decline in estimated fair value has resulted from credit losses or other factors. If the Company determines the decline in estimated fair value is due to credit losses, the difference between the amortized cost of the security and the present value of projected future cash flows expected to be collected is recognized as an allowance through net investment gains (losses). If the estimated fair value is less than the present value of projected future cash flows expected to be collected, this portion of the allowance related to other-than-credit factors is recorded in OCI. Once a security specific allowance for credit losses is established, the present value of cash flows expected to be collected from the security continues to be reassessed. Any changes in the security specific allowance for credit losses are recorded as a provision for (or reversal of) credit loss expense in net investment gains (losses). Fixed maturity securities are also evaluated to determine whether any amounts have become uncollectible. When all, or a portion, of a security is deemed uncollectible, the uncollectible portion is written-off with an adjustment to amortized cost and a corresponding reduction to the allowance for credit losses. Mortgage Loans Mortgage loans are stated at unpaid principal balance, adjusted for any unamortized premium or discount, and any deferred fees or expenses, and net of an allowance for credit losses. Interest income and prepayment fees are recognized when earned. Interest income is recognized using an effective yield method giving effect to amortization of premiums and accretion of discounts. The allowance for credit losses for mortgage loans represents the Company’s best estimate of expected credit losses over the remaining life of the loans and is determined using relevant available information from internal and external sources, relating to past events, current conditions, and a reasonable and supportable forecast. Policy Loans Policy loans are stated at unpaid principal balances. Interest income is recorded as earned using the contractual interest rate. Generally, accrued interest is capitalized on the policy’s anniversary date. Any unpaid principal and accrued interest is deducted from the cash surrender value or the death benefit prior to settlement of the insurance policy. Limited Partnerships and LLCs The Company uses the equity method of accounting for investments when it has more than a minor ownership interest or more than a minor influence over the investee’s operations; when the Company has virtually no influence over the investee’s operations the investment is carried at estimated fair value. The Company generally recognizes its share of the equity method investee’s earnings on a three-month lag in instances where the investee’s financial information is not sufficiently timely or when the investee’s reporting period differs from the Company’s reporting period; while distributions on investments carried at estimated fair value are recognized as earned or received. Short-term Investments Short-term investments include securities and other investments with remaining maturities of one year or less, but greater than three months, at the time of purchase and are stated at estimated fair value or amortized cost, which approximates estimated fair value. The Company’s short-term investments generally involve large dollar amounts that turn over quickly and have short maturities. For the years ended December 31, 2024, 2023 and 2022, cash proceeds from sales, maturities and repayments of short-term investments were $3.3 billion, $4.2 billion and $4.9 billion, respectively. For the years ended December 31, 2024, 2023 and 2022, cash payments on purchases of short-term investments were $4.0 billion, $4.2 billion and $4.1 billion, respectively. Other Invested Assets Other invested assets consist principally of freestanding derivatives with positive estimated fair values which are described in “— Derivatives” below. Securities Lending Program Securities lending transactions whereby blocks of securities are loaned to third parties, primarily brokerage firms and commercial banks, are treated as financing arrangements and the associated liability is recorded at the amount of cash received. Income and expenses associated with securities lending transactions are reported as investment income and investment expense, respectively, in net investment income. The Company obtains collateral at the inception of the loan, usually cash, in an amount generally equal to 102% of the estimated fair value of the securities loaned and maintains it at a level greater than or equal to 100% for the duration of the loan. The Company monitors the estimated fair value of the securities loaned on a daily basis and additional collateral is obtained as necessary throughout the duration of the loan. Securities loaned under such transactions may be sold or re-pledged by the transferee. The Company is liable to return to the counterparties the cash collateral received. Funding Agreements The Company established liabilities for funding agreements associated with the Company’s institutional spread margin business, which are equal to the unpaid principal balance, adjusted for any unamortized premium or discount. Liabilities related to funding agreements are reported in policyholder account balances. Derivatives Freestanding Derivatives Freestanding derivatives are carried at estimated fair value on the Company’s balance sheet either as assets in other invested assets or as liabilities in other liabilities. The Company does not offset the estimated fair value amounts recognized for derivatives executed with the same counterparty under the same master netting agreement. If a derivative is not designated or did not qualify as an accounting hedge, changes in the estimated fair value of the derivative are reported in net derivative gains (losses). The Company generally reports cash received or paid for a derivative in the investing activity section of the statement of cash flows except for cash flows of certain derivative options with deferred premiums, which are reported in the financing activity section of the statement of cash flows. Hedge Accounting The Company primarily designates derivatives as a hedge of a forecasted transaction or a variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge). When a derivative is designated as a cash flow hedge and is determined to be highly effective, changes in fair value are recorded in OCI and subsequently reclassified into the statement of operations when the Company’s earnings are affected by the variability in cash flows of the hedged item. To qualify for hedge accounting, at the inception of the hedging relationship, the Company formally documents its risk management objective and strategy for undertaking the hedging transaction, as well as its designation of the hedge. In its hedge documentation, the Company sets forth how the hedging instrument is expected to hedge the designated risks related to the hedged item and sets forth the method that will be used to retrospectively and prospectively assess the hedging instrument’s effectiveness. 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 at least quarterly throughout the life of the designated hedging relationship. The Company discontinues hedge accounting prospectively when: (i) it is determined that the derivative is no longer highly effective in offsetting changes in the estimated fair value or cash flows of a hedged item; (ii) the derivative or hedged item expires, is sold, terminated, or exercised; (iii) it is no longer probable that the hedged forecasted transaction will occur; or (iv) the derivative is de-designated as a hedging instrument. When hedge accounting is discontinued the derivative is carried at its estimated fair value on the balance sheet, with changes in its estimated fair value recognized in the current period as net derivative gains (losses). The changes in estimated fair value of derivatives previously recorded in OCI related to discontinued cash flow hedges are released into the statement of operations when the Company’s earnings are affected by the variability in cash flows of the hedged item. When the hedged item matures or is sold, or the forecasted transaction is not probable of occurring, the Company immediately reclassifies any remaining balances in OCI to net derivative gains (losses). Embedded Derivatives The Company has index-linked annuities that are directly written or assumed through reinsurance contracts that contain embedded derivatives which are required to be separated from their host contracts and reported as derivatives. Certain funds withheld arrangements associated with reinsurance may also contain embedded derivatives. See “— Insurance Contract Obligations” and “— Reinsurance” for additional information on the accounting policies for embedded derivatives. Fair Value Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. In most cases, the exit price and the transaction (or entry) price will be the same at initial recognition. In determining the estimated fair value of the Company’s investments, fair values are based on unadjusted quoted prices for identical investments in active markets that are readily and regularly obtainable. When such quoted prices are not available, fair values are based on quoted prices in markets that are not active, quoted prices for similar but not identical investments, or other observable inputs. If these inputs are not available, or observable inputs are not determinable, unobservable inputs and/or adjustments to observable inputs requiring management judgment are used to determine the estimated fair value of investments. Separate Accounts Separate accounts underlying the Company’s variable life and annuity contracts are reported at fair value. Assets in separate accounts supporting the contract liabilities are legally insulated from the Company’s general account liabilities. Investments in these separate accounts are directed by the contract holder and all investment performance, net of contract fees and assessments, is passed through to the contract holder. Investment performance and the corresponding amounts credited to contract holders of such separate accounts are offset in the same line on the statements of operations. Separate accounts that do not pass all investment performance to the contract holder, including those underlying certain index-linked annuities, are combined on a line-by-line basis with the Company’s general account assets, liabilities, revenues

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Information	. Segment Information The Company is organized and provides its products and services through the following reportable segments: Annuities; Life; Run-off; and Corporate & Other. The Company’s chief operating decision maker (“CODM”) views and manages the business through these segments. Annuities The Annuities segment consists of a variety of variable, fixed, index-linked and income annuities designed to address contract holders’ needs for protected wealth accumulation on a tax-deferred basis, wealth transfer and income security. Life The Life segment consists of insurance products, including term, universal, whole and variable life products designed to address policyholders’ needs for financial security and protected wealth transfer, which may be on a tax-advantaged basis. Run-off The Run-off segment consists primarily of products that are no longer actively sold and are separately managed, including ULSG, structured settlements, pension risk transfer contracts, certain company-owned life insurance policies and certain funding agreements. Corporate & Other The Corporate & Other segment consists of activities related to funding agreements associated with the Company’s institutional spread margin business, excess capital not allocated to the other segments, interest expense related to the Company’s outstanding debt, and preferred stock dividends, as well as expenses associated with certain legal proceedings and income tax audit issues. Corporate & Other also includes long-term care business reinsured through 100% quota share reinsurance agreements. In connection with the adoption of ASU 2023-07, the Company’s presentation of segment information has been updated for all periods. Financial Measure and Segment Accounting Policies The Company’s CODM is its Chief Executive Officer (“CEO”). The CEO uses adjusted earnings to evaluate segment performance and facilitate comparisons to industry results. The Company believes the presentation of adjusted earnings, as the Company measures it for management purposes, enhances the understanding of its performance by the investor community by highlighting the results of operations and the underlying profitability drivers of the business. Adjusted earnings, which may be positive or negative, focuses on the Company’s primary businesses by excluding the impact of market volatility, which could distort trends. The following items are excluded from total revenues in calculating adjusted earnings: • Net investment gains (losses); and • Net derivative gains (losses), excluding earned income and amortization of premium on derivatives that are hedges of investments or that are used to replicate certain investments, but do not qualify for hedge accounting treatment (“Investment Hedge Adjustments”). The following items are excluded from total expenses in calculating adjusted earnings: • Change in MRBs; and • Change in fair value of the crediting rate on experience-rated contracts (“Market Value Adjustments”). The provision for income tax related to adjusted earnings is calculated using the statutory tax rate of 21%, net of impacts related to the dividends received deduction, tax credits and current period non-recurring items. The segment accounting policies are the same as those used to prepare the Company’s consolidated financial statements, except for the adjustments to calculate adjusted earnings described above. In addition, segment accounting policies include the methods of capital allocation described below. Segment investment and capitalization targets are based on statutory oriented risk principles and metrics. Segment invested assets backing liabilities are based on net statutory liabilities plus excess capital. For the variable annuity business, the excess capital held is based on the target statutory total asset requirement consistent with the Company’s variable annuity risk management strategy. For insurance businesses other than variable annuities, excess capital held is based on a percentage of required statutory risk-based capital (“RBC”). Assets in excess of those allocated to the Annuities, Life and Run-off segments, if any, are held in Corporate & Other. Segment net investment income reflects the performance of each segment’s respective invested assets. The tables below provide information about the Company’s segments, including significant segment expenses, and reconciliations to Net income (loss) available to common shareholders. Year Ended December 31, 2024 Annuities Life Run-off Corporate & Other Total (In millions) Total revenues $ 1,932 $ 1,113 $ 996 $ 683 $ 4,724 Less: Revenues excluded from adjusted earnings (1) (3,350) (22) (599) (23) Less: Segment expenses: Policyholder benefits and claims 479 710 1,105 — Interest credited to policyholder account balances, excluding market value adjustments 1,351 105 243 450 Amortization of DAC and VOBA 505 94 — — Interest expense on debt — — — 152 Other expenses (2) 1,399 188 166 41 Less: Provision for income tax expense (benefit) 297 5 16 (14) Less: Net income (loss) attributable to noncontrolling interests — — — 5 Less: Preferred stock dividends — — — 102 Adjusted earnings (loss) $ 1,251 $ 33 $ 65 $ (30) 1,319 Adjustments for: Net investment gains (losses) (295) Net derivative gains (losses), excluding investment hedge adjustments of $31 (3,699) Change in market risk benefits 2,673 Market value adjustments 13 Provision for income tax (expense) benefit 275 Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders $ 286 Interest revenue $ 2,859 $ 466 $ 1,234 $ 694 Year Ended December 31, 2023 Annuities Life Run-off Corporate & Other Total (In millions) Total revenues $ 944 $ 1,199 $ 1,405 $ 569 $ 4,117 Less: Revenues excluded from adjusted earnings (1) (3,934) (30) (238) (56) Less: Segment expenses: Policyholder benefits and claims 480 894 1,302 — Interest credited to policyholder account balances, excluding market value adjustments 1,054 97 274 388 Amortization of DAC and VOBA 516 104 — — Interest expense on debt — — — 153 Other expenses (2) 1,391 203 167 63 Less: Provision for income tax expense (benefit) 268 (16) (23) (16) Less: Net income (loss) attributable to noncontrolling interests — — — 5 Less: Preferred stock dividends — — — 102 Adjusted earnings (loss) $ 1,169 $ (53) $ (77) $ (70) 969 Adjustments for: Net investment gains (losses) (246) Net derivative gains (losses), excluding investment hedge adjustments of $105 (4,012) Change in market risk benefits 1,507 Market value adjustments (12) Provision for income tax (expense) benefit 580 Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders $ (1,214) Interest revenue $ 2,568 $ 437 $ 1,141 $ 623 Year Ended December 31, 2022 Annuities Life Run-off Corporate & Other Total (In millions) Total revenues $ 5,492 $ 1,182 $ (196) $ 395 $ 6,873 Less: Revenues excluded from adjusted earnings (1) 966 (31) (1,901) 55 Less: Segment expenses: Policyholder benefits and claims 380 800 1,013 — Interest credited to policyholder account balances, excluding market value adjustments 897 75 290 163 Amortization of DAC and VOBA 515 114 — — Interest expense on debt — — — 153 Other expenses (2) 1,417 130 293 92 Less: Provision for income tax expense (benefit) 247 16 22 (126) Less: Net income (loss) attributable to noncontrolling interests — — — 5 Less: Preferred stock dividends — — — 104 Adjusted earnings (loss) $ 1,070 $ 78 $ 87 $ (51) 1,184 Adjustments for: Net investment gains (losses) (248) Net derivative gains (losses), excluding investment hedge adjustments of $71 (663) Change in market risk benefits 4,104 Market value adjustments 87 Provision for income tax (expense) benefit (689) Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders $ 3,775 Interest revenue $ 2,261 $ 442 $ 1,166 $ 340 _______________ (1) For each reportable segment, certain revenues are excluded from adjusted earnings (loss), including net investment gains (losses) and net derivative gains (losses), excluding investment hedge adjustments. (2) Other expenses include corporate expense allocations directly attributable to each of the segments. Total assets by segment were as follows at: December 31, 2024 2023 (In millions) Annuities $ 163,830 $ 160,775 Life 26,261 25,504 Run-off 24,873 26,828 Corporate & Other 23,573 23,233 Total $ 238,537 $ 236,340 Total premiums, universal life and investment-type product policy fees and other revenues by major product group were as follows: Years Ended December 31, 2024 2023 2022 (In millions) Annuity products $ 2,426 $ 2,319 $ 2,268 Life insurance products 1,018 1,280 1,298 Other products 21 7 9 Total $ 3,465 $ 3,606 $ 3,575 Substantially all of the Company’s premiums, universal life and investment-type product policy fees and other revenues originated in the U.S. Revenues derived from any individual customer did not exceed 10% of premiums, universal life and investment-type product policy fees and other revenues for the years ended December 31, 2024, 2023 and 2022.

Insurance Liabilities

Insurance Liabilities	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
Insurance Liabilities	3. Insurance Liabilities Liability for Future Policy Benefits Information regarding LFPBs for non-participating traditional and limited-payment contracts was as follows: Years Ended December 31, 2024 2023 2022 Term and Whole Life Insurance Income Annuities Structured Settlement and Pension Risk Transfer Annuities Term and Whole Life Insurance Income Annuities Structured Settlement and Pension Risk Transfer Annuities Term and Whole Life Insurance Income Annuities Structured Settlement and Pension Risk Transfer Annuities (Dollars in millions) Present value of expected net premiums: Balance, beginning of year $ 2,974 $ — $ — $ 2,871 $ — $ — $ 3,325 $ — $ — Beginning balance at original discount rate 3,234 — — 3,212 — — 3,051 — — Effect of model refinements 4 — — — — — 122 — — Effect of changes in cash flow assumptions 128 — — 215 — — 137 — — Effect of actual variances from expected experience 7 — — (14) — — 119 — — Adjusted beginning of year balance 3,373 — — 3,413 — — 3,429 — — Issuances 67 — — 93 — — 93 — — Interest accrual 113 — — 112 — — 116 — — Net premiums collected (392) — — (384) — — (426) — — Ending balance at original discount rate 3,161 — — 3,234 — — 3,212 — — Effect of changes in discount rate assumptions (353) — — (260) — — (341) — — Balance, end of year $ 2,808 $ — $ — $ 2,974 $ — $ — $ 2,871 $ — $ — Present value of expected future policy benefits: Balance, beginning of year $ 5,507 $ 3,754 $ 6,697 $ 5,279 $ 3,512 $ 6,793 $ 6,426 $ 4,333 $ 10,171 Beginning balance at original discount rate 6,023 4,031 7,085 5,922 3,897 7,410 5,820 3,865 8,165 Effect of model refinements 10 — — — — — 135 — (278) Effect of changes in cash flow assumptions 208 (23) 82 309 — — 157 56 (157) Effect of actual variances from expected experience (9) — (10) (15) (34) (47) 155 (22) (23) Adjusted beginning of year balance 6,232 4,008 7,157 6,216 3,863 7,363 6,267 3,899 7,707 Issuances 72 403 — 99 374 — 101 224 — Interest accrual 219 150 305 217 140 314 222 146 327 Benefit payments (534) (400) (586) (509) (346) (592) (668) (372) (624) Ending balance at original discount rate 5,989 4,161 6,876 6,023 4,031 7,085 5,922 3,897 7,410 Effect of changes in discount rate assumptions (664) (398) (758) (516) (277) (388) (643) (385) (617) Balance, end of year $ 5,325 $ 3,763 $ 6,118 $ 5,507 $ 3,754 $ 6,697 $ 5,279 $ 3,512 $ 6,793 Net liability for future policy benefits, end of year $ 2,517 $ 3,763 $ 6,118 $ 2,533 $ 3,754 $ 6,697 $ 2,408 $ 3,512 $ 6,793 Less: Reinsurance recoverable, end of year 29 31 59 42 31 65 45 24 68 Net liability for future policy benefits, after reinsurance recoverable $ 2,488 $ 3,732 $ 6,059 $ 2,491 $ 3,723 $ 6,632 $ 2,363 $ 3,488 $ 6,725 Weighted-average duration of liability 7.6 years 7.9 years 11.6 years 8.7 years 8.2 years 11.6 years 8.4 years 8.5 years 11.6 years Weighted-average interest accretion rate 3.94 % 4.03 % 4.46 % 3.94 % 3.97 % 4.46 % 3.97 % 3.87 % 4.45 % Current discount rate 5.42 % 5.47 % 5.64 % 4.94 % 4.95 % 5.03 % 5.26 % 5.27 % 5.32 % Gross premiums or assessments recognized during period $ 575 $ 499 $ — $ 611 $ 488 $ — $ 639 $ 257 $ — Expected future gross premiums, undiscounted $ 5,909 $ — $ — $ 6,172 $ — $ — $ 6,734 $ — $ — Expected future gross premiums, discounted $ 4,352 $ — $ — $ 4,642 $ — $ — $ 4,991 $ — $ — Expected future benefit payments, undiscounted $ 8,164 $ 5,863 $ 13,336 $ 8,332 $ 5,710 $ 13,767 $ 8,184 $ 5,520 $ 14,418 Expected future benefit payments, discounted $ 5,989 $ 4,161 $ 6,876 $ 6,023 $ 4,031 $ 7,085 $ 5,922 $ 3,897 $ 7,410 The measurement of LFPBs can be significantly impacted by changes in assumptions for policyholder behavior. As part of the 2024 and 2023 annual actuarial reviews (“AAR”), the Company updated assumptions regarding mortality and lapses for term and non-participating whole life insurance. The impact from changes in assumptions is presented in effect of changes in cash flow assumptions in the table above. Information regarding the additional insurance liabilities for universal life-type contracts with secondary guarantees was as follows: Years Ended December 31, 2024 2023 2022 (Dollars in millions) Balance, beginning of year $ 7,607 $ 6,935 $ 7,168 Beginning balance before the effect of unrealized gains and losses 7,784 7,175 6,731 Effect of changes in cash flow assumptions 895 52 (37) Effect of actual variances from expected experience 167 145 179 Adjusted beginning of year balance 8,846 7,372 6,873 Interest accrual 406 357 333 Net assessments collected 446 414 416 Benefit payments (421) (359) (447) Ending balance before the effect of unrealized gains and losses 9,277 7,784 7,175 Effect of unrealized gains and losses (291) (177) (240) Balance, end of year 8,986 7,607 6,935 Less: Reinsurance recoverable, end of year 1,535 1,438 1,384 Net additional liability, after reinsurance recoverable $ 7,451 $ 6,169 $ 5,551 Weighted-average duration of liability 6.6 years 6.7 years 6.7 years Weighted-average interest accretion rate 4.94 % 4.92 % 4.90 % Gross assessments recognized during period $ 1,083 $ 1,064 $ 1,070 The measurement of liabilities for secondary guarantees can be significantly impacted by changes in assumptions for policyholder behavior, as well as the expected general account rate of return, which is driven by the Company’s assumption for long-term treasury yields. The Company’s practice of projecting treasury yields uses a mean reversion approach that assumes that long-term interest rates are less influenced by short-term fluctuations and are only changed when sustained interim deviations are expected. As part of the 2024 and 2023 AARs, the Company updated assumptions regarding policyholder behavior, including mortality, premium persistency, lapses and withdrawals. In 2024, the Company also increased the long-term general account earned rate, driven by an increase in the mean reversion rate, from 3.75% to 4.00%. The impact from changes in assumptions, excluding the effects on the ULSG liability for profits followed by losses, is presented in effect of changes in cash flow assumptions in the table above. A reconciliation of the net LFPBs for non-participating traditional and limited-payment contracts and the additional insurance liabilities for universal life-type contracts with secondary guarantees reported in the preceding rollforward tables to LFPBs on the consolidated balance sheets was as follows at: December 31, 2024 2023 (In millions) Liabilities reported in the preceding rollforward tables $ 21,384 $ 20,591 Long-term care insurance (1) 5,190 5,581 ULSG liabilities, including liability for profits followed by losses 875 2,427 Participating whole life insurance (2) 3,217 3,102 Deferred profit liabilities 431 479 Other 378 389 Total liability for future policy benefits $ 31,475 $ 32,569 _______________ (1) Includes liabilities related to fully reinsured individual long-term care insurance. See Notes 2 and 7. (2) Participating whole life insurance uses an interest assumption based on the non-forfeiture interest rate, ranging from 3.5% to 4.5%, and mortality rates guaranteed in calculating the cash surrender values described in such contracts, and also includes a liability for terminal dividends. Participating whole life insurance represented 3% of the Company’s life insurance in-force at both December 31, 2024 and 2023, and 39% and 40% of gross traditional life insurance premiums for the years ended December 31, 2024 and 2023, respectively. Policyholder Account Balances Information regarding policyholder account balances was as follows: Universal Life Insurance Variable Annuities (1) Index-linked Annuities Fixed Rate Annuities ULSG Company-Owned Life Insurance (1) (Dollars in millions) Year Ended December 31, 2024 Balance, beginning of year $ 2,550 $ 4,307 $ 41,627 $ 14,672 $ 5,052 $ 653 Premiums and deposits 248 73 8,228 1,127 645 — Surrenders and withdrawals (95) (670) (5,532) (1,356) (23) — Benefit payments (41) (98) (324) (345) (70) (9) Net transfers from (to) separate account 51 127 — — — 500 Interest credited 92 114 673 567 163 29 Policy charges (215) (20) (23) — (988) (7) Changes related to embedded derivatives — — 3,956 — — — Balance, end of year $ 2,590 $ 3,833 $ 48,605 $ 14,665 $ 4,779 $ 1,166 Weighted-average crediting rate (2) 3.58 % 2.81 % 1.79 % 3.84 % 3.32 % 3.63 % Year Ended December 31, 2023 Balance, beginning of year $ 2,658 $ 4,908 $ 33,897 $ 14,274 $ 5,307 $ 641 Premiums and deposits 230 76 7,183 2,694 660 — Surrenders and withdrawals (163) (693) (3,732) (2,405) (23) — Benefit payments (67) (111) (240) (377) (85) (8) Net transfers from (to) separate account 46 18 — — — 1 Interest credited 66 133 445 486 208 28 Policy charges (220) (24) (11) — (1,015) (9) Changes related to embedded derivatives — — 4,085 — — — Balance, end of year $ 2,550 $ 4,307 $ 41,627 $ 14,672 $ 5,052 $ 653 Weighted-average crediting rate (2) 2.56 % 2.90 % 1.47 % 3.31 % 4.02 % 4.33 % Year Ended December 31, 2022 Balance, beginning of year $ 2,694 $ 4,743 $ 32,000 $ 11,849 $ 5,569 $ 646 Premiums and deposits 219 146 6,632 3,676 697 — Surrenders and withdrawals (88) (495) (2,220) (904) (32) — Benefit payments (65) (113) (180) (345) (84) (8) Net transfers from (to) separate account 47 151 — — — (13) Interest credited 76 501 392 (2) 197 23 Policy charges (225) (25) (8) — (1,040) (7) Changes related to embedded derivatives — — (2,719) — — — Balance, end of year $ 2,658 $ 4,908 $ 33,897 $ 14,274 $ 5,307 $ 641 Weighted-average crediting rate (2) 2.84 % 10.47 % 1.16 % (0.02) % 3.62 % 3.41 % _______________ (1) Includes liabilities related to separate account products where the contract holder elected a general account investment option. (2) Excludes the effects of embedded derivatives related to index-linked crediting rates. A reconciliation of policyholder account balances reported in the preceding rollforward table to the liability for policyholder account balances on the consolidated balance sheets was as follows at: December 31, 2024 2023 (In millions) Policyholder account balances reported in the preceding rollforward table $ 75,638 $ 68,861 Funding agreements classified as investment contracts 11,002 11,115 Institutional group annuities 370 — Other investment contract liabilities 979 1,092 Total policyholder account balances $ 87,989 $ 81,068 The balance of account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimums was as follows at: Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 to 50 Basis Points Above 51 to 150 Basis Points Above Greater than 150 Basis Points Above Total (In millions) December 31, 2024 Annuities (1): Less than 2.00% $ 562 $ 126 $ 240 $ 8,769 $ 9,697 2.00% to 3.99% 7,160 462 492 385 8,499 Greater than 3.99% 783 — — — 783 Total $ 8,505 $ 588 $ 732 $ 9,154 $ 18,979 Life insurance (2) (3): Less than 2.00% $ — $ — $ — $ 317 $ 317 2.00% to 3.99% — 522 48 131 701 Greater than 3.99% 1,530 — — — 1,530 Total $ 1,530 $ 522 $ 48 $ 448 $ 2,548 ULSG (3): Less than 2.00% $ — $ — $ — $ — $ — 2.00% to 3.99% 1,052 1,386 1,602 238 4,278 Greater than 3.99% 484 — — — 484 Total $ 1,536 $ 1,386 $ 1,602 $ 238 $ 4,762 December 31, 2023 Annuities (1): Less than 2.00% $ 697 $ 223 $ 310 $ 7,652 $ 8,882 2.00% to 3.99% 8,827 242 225 356 9,650 Greater than 3.99% 874 — — — 874 Total $ 10,398 $ 465 $ 535 $ 8,008 $ 19,406 Life insurance (2) (3): Less than 2.00% $ — $ — $ — $ 236 $ 236 2.00% to 3.99% — 492 49 136 677 Greater than 3.99% 1,595 — — — 1,595 Total $ 1,595 $ 492 $ 49 $ 372 $ 2,508 ULSG (3): Less than 2.00% $ — $ — $ — $ — $ — 2.00% to 3.99% 1,135 1,485 1,663 254 4,537 Greater than 3.99% 506 — — — 506 Total $ 1,641 $ 1,485 $ 1,663 $ 254 $ 5,043 _______________ (1) Includes policyholder account balances for fixed rate annuities and the fixed account portion of variable annuities. (2) Includes policyholder account balances for retained asset accounts, universal life policies and the fixed account portion of universal variable life insurance policies. (3) Amounts are gross of policy loans. See Note 5 for information regarding net amount at risk and cash surrender values. Obligations Under Funding Agreements Institutional Spread Margin Business Brighthouse Life Insurance Company has issued unsecured fixed and floating rate funding agreements to certain special purpose entities that have issued either debt securities or commercial paper for which payment of interest and principal is secured by such funding agreements. The Company had obligations outstanding under these funding agreements of $5.5 billion at both December 31, 2024 and 2023. Brighthouse Life Insurance Company established a secured funding agreement-backed repurchase agreement program in January 2024. Brighthouse Life Insurance Company may enter into repurchase agreements with bank counterparties and the proceeds of the repurchase agreements are then used by a special purpose entity to purchase funding agreements from Brighthouse Life Insurance Company. The Company had obligations under this program of $500 million at December 31, 2024. Brighthouse Life Insurance Company has a secured funding agreement program with the Federal Home Loan Bank (“FHLB”) of Atlanta and the Federal Agricultural Mortgage Corporation and its affiliate Farmer Mac Mortgage Securities Corporation (“Farmer Mac”). Funding agreements are issued to FHLB and Farmer Mac in exchange for cash, for which these programs have been granted liens on certain assets, some of which are in their custody to collateralize the Company’s obligations under the funding agreements. Upon any event of default by the Company, the program recovery on the collateral is limited to the amount of the Company’s liabilities to FHLB and Farmer Mac, respectively. The Company had obligations outstanding under these programs of $5.0 billion and $5.1 billion at December 31, 2024 and 2023, respectively. See Note 8 for information on invested assets pledged as collateral in connection with funding agreements. Inactive Funding Agreement Programs Brighthouse Life Insurance Company had obligations outstanding under inactive funding agreement programs of $25 million and $525 million at December 31, 2024 and 2023, respectively.

Market Risk Benefits

Market Risk Benefits	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
Market Risk Benefits	4. Market Risk Benefits Information regarding MRB assets and liabilities associated with variable annuities was as follows: Years Ended December 31, 2024 2023 2022 (Dollars in millions) Balance, beginning of year $ 9,701 $ 9,974 $ 15,698 Balance, beginning of year, before effect of changes in nonperformance risk 7,326 8,230 11,611 Decrements (178) (176) 16 Effect of changes in future expected assumptions (53) 259 210 Effect of actual different from expected experience 140 187 (48) Effect of changes in interest rates (1,940) (428) (8,394) Effect of changes in fund returns (973) (2,203) 3,807 Issuances (4) (7) (47) Effect of changes in risk margin (72) (34) (152) Aging of the block and other 973 1,498 1,227 Balance, end of year, before effect of changes in nonperformance risk 5,219 7,326 8,230 Effect of changes in nonperformance risk 2,014 2,375 1,744 Balance, end of year 7,233 9,701 9,974 Less: Reinsurance recoverable, end of year 17 43 71 Balance, end of year, net of reinsurance (1) $ 7,216 $ 9,658 $ 9,903 Weighted-average attained age of contract holder 73.8 years 72.9 years 71.8 years _______________ (1) Amounts represent the sum of MRB assets and MRB liabilities presented on the consolidated balance sheets at December 31, 2024, 2023 and 2022, with the exception of $21 million, $9 million and $3 million, respectively, of index-linked annuities not included in this table. Market conditions, including, but not limited to, changes in interest rates, equity indices, market volatility and variations in actuarial assumptions, including policyholder behavior, mortality and risk margins related to non-capital markets inputs, as well as changes in nonperformance risk, may result in significant fluctuations in the estimated fair value of the guarantees. As part of the 2024 AAR, the Company updated assumptions regarding policyholder behavior, mortality and separate account fund allocations. As part of the 2023 AAR, the Company updated assumptions regarding policyholder behavior, mortality, separate account fund allocations and volatility. The impact from changes in assumptions is presented in effect of changes in future expected assumptions in the table above.

Separate Accounts

Separate Accounts	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
Separate Accounts	5. Separate Accounts Separate Accounts Information regarding separate account liabilities was as follows: Years Ended December 31, 2024 2023 2022 Variable Annuities Universal Life Insurance Company-Owned Life Insurance Variable Annuities Universal Life Insurance Company-Owned Life Insurance Variable Annuities Universal Life Insurance Company-Owned Life Insurance (In millions) Balance, beginning of year $ 79,990 $ 5,921 $ 2,162 $ 77,653 $ 5,218 $ 1,932 $ 105,023 $ 6,862 $ 2,384 Premiums and deposits 834 152 — 766 162 — 1,207 175 — Surrenders and withdrawals (8,291) (217) (29) (6,346) (180) (19) (6,256) (159) (18) Benefit payments (1,555) (69) (22) (1,434) (68) (28) (1,337) (67) (33) Investment performance 8,494 897 254 11,549 1,041 328 (18,583) (1,342) (358) Policy charges (2,168) (214) (53) (2,160) (206) (49) (2,292) (203) (61) Net transfers from (to) general account (127) (51) (500) (18) (46) (1) (151) (47) 13 Other (26) — (4) (20) — (1) 42 (1) 5 Balance, end of year $ 77,151 $ 6,419 $ 1,808 $ 79,990 $ 5,921 $ 2,162 $ 77,653 $ 5,218 $ 1,932 A reconciliation of separate account liabilities reported in the preceding rollforward table to the separate account liabilities balance on the consolidated balance sheets was as follows at: December 31, 2024 2023 (In millions) Separate account liabilities reported in the preceding rollforward table $ 85,378 $ 88,073 Variable income annuities 235 179 Pension risk transfer annuities 23 19 Total separate account liabilities $ 85,636 $ 88,271 The aggregate estimated fair value of assets, by major investment asset category, supporting separate accounts was as follows at: December 31, 2024 2023 (In millions) Equity securities $ 85,423 $ 87,999 Fixed maturity securities 207 258 Cash and cash equivalents 2 7 Other assets 4 7 Total aggregate estimated fair value of assets $ 85,636 $ 88,271 Net Amount at Risk and Cash Surrender Values Information regarding the net amount at risk and cash surrender value for insurance products was as follows at: Universal Life Insurance Variable Annuities Index-linked Annuities Fixed Rate Annuities ULSG Company-Owned Life Insurance (In millions) December 31, 2024 Account balances reported in the preceding rollforward tables: Policyholder account balances $ 2,590 $ 3,833 $ 48,605 $ 14,665 $ 4,779 $ 1,166 Separate account liabilities 6,419 77,151 — — — 1,808 Total account balances $ 9,009 $ 80,984 $ 48,605 $ 14,665 $ 4,779 $ 2,974 Net amount at risk $ 33,227 $ 12,817 N/A N/A $ 63,580 $ 2,657 Cash surrender value $ 8,425 $ 80,592 $ 47,013 $ 14,361 $ 4,316 $ 2,142 December 31, 2023 Account balances reported in the preceding rollforward tables: Policyholder account balances $ 2,550 $ 4,307 $ 41,627 $ 14,672 $ 5,052 $ 653 Separate account liabilities 5,921 79,990 — — — 2,162 Total account balances $ 8,471 $ 84,297 $ 41,627 $ 14,672 $ 5,052 $ 2,815 Net amount at risk $ 35,583 $ 13,240 N/A N/A $ 65,299 $ 2,659 Cash surrender value $ 7,881 $ 83,852 $ 39,270 $ 14,068 $ 4,498 $ 2,593 December 31, 2022 Account balances reported in the preceding rollforward tables: Policyholder account balances $ 2,658 $ 4,908 $ 33,897 $ 14,274 $ 5,307 $ 641 Separate account liabilities 5,218 77,653 — — — 1,932 Total account balances $ 7,876 $ 82,561 $ 33,897 $ 14,274 $ 5,307 $ 2,573 Net amount at risk $ 38,146 $ 16,504 N/A N/A $ 66,926 $ 3,382 Cash surrender value $ 7,225 $ 82,125 $ 31,293 $ 13,723 $ 4,671 $ 2,357 Products may contain both separate account and general account fund options; accordingly, net amount at risk and cash surrender value reported in the table above relate to the total account balance for each respective product grouping.

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles	12 Months Ended
	Dec. 31, 2024
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]
Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles	6. Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles Deferred Policy Acquisition Costs and Value of Business Acquired See Note 1 for a description of capitalized acquisition costs. Information regarding DAC and VOBA was as follows: Variable Annuities Fixed Rate Annuities Index-linked Annuities Term and Whole Life Insurance Universal Life Insurance (In millions) DAC: Balance at January 1, 2022 $ 2,718 $ 89 $ 1,081 $ 462 $ 431 Capitalization 55 30 330 (1) 11 Amortization (265) (12) (198) (56) (50) Balance at December 31, 2022 2,508 107 1,213 405 392 Capitalization 36 14 343 2 13 Amortization (243) (11) (225) (53) (45) Balance at December 31, 2023 2,301 110 1,331 354 360 Capitalization 39 8 373 4 13 Amortization (224) (3) (242) (48) (41) Balance at December 31, 2024 $ 2,116 $ 115 $ 1,462 $ 310 $ 332 VOBA: Balance at January 1, 2022 $ 377 $ 70 $ — $ 6 $ 54 Amortization (36) (5) — (1) (6) Balance at December 31, 2022 341 65 — 5 48 Amortization (32) (5) — (1) (5) Balance at December 31, 2023 309 60 — 4 43 Amortization (30) (5) — (1) (5) Balance at December 31, 2024 $ 279 $ 55 $ — $ 3 $ 38 Total DAC and VOBA: Balance at December 31, 2024 $ 2,395 $ 170 $ 1,462 $ 313 $ 370 Balance at December 31, 2023 $ 2,610 $ 170 $ 1,331 $ 358 $ 403 Balance at December 31, 2022 $ 2,849 $ 172 $ 1,213 $ 410 $ 440 Deferred Sales Inducements Information regarding DSI, included in other assets, was as follows: December 31, 2024 2023 2022 Variable Annuities Fixed Rate Annuities Variable Annuities Fixed Rate Annuities Variable Annuities Fixed Rate Annuities (In millions) Balance, beginning of year $ 220 $ 8 $ 245 $ 9 $ 272 $ 10 Capitalization 1 — 1 — 1 — Amortization (23) (2) (26) (1) (28) (1) Balance, end of year $ 198 $ 6 $ 220 $ 8 $ 245 $ 9 Unearned Revenue Information regarding unearned revenue, included in other policy-related balances, was as follows: December 31, 2024 2023 2022 Universal Life Insurance ULSG Variable Annuities Universal Life Insurance ULSG Variable Annuities Universal Life Insurance ULSG Variable Annuities (In millions) Balance, beginning of year $ 356 $ 612 $ 67 $ 357 $ 488 $ 74 $ 358 $ 344 $ 80 Capitalization 37 166 — 38 174 — 39 181 2 Amortization (36) (63) (7) (39) (50) (7) (40) (37) (8) Balance, end of year $ 357 $ 715 $ 60 $ 356 $ 612 $ 67 $ 357 $ 488 $ 74

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2024
Reinsurance Disclosures [Abstract]
Reinsurance	7. Reinsurance The Company enters into reinsurance agreements primarily as a purchaser of reinsurance for its various insurance products and also as a provider of reinsurance for some insurance products issued by former affiliated and unaffiliated companies. The Company participates in reinsurance activities in order to limit losses, minimize exposure to significant risks and provide additional capacity for future growth. Accounting for reinsurance requires extensive use of assumptions and estimates, particularly related to the future performance of the underlying business and the potential impact of counterparty credit risks. The Company periodically reviews actual and anticipated experience compared to the aforementioned assumptions used to establish assets and liabilities relating to ceded and assumed reinsurance and evaluates the financial strength of counterparties to its reinsurance agreements using criteria similar to that evaluated in the security impairment process discussed in Note 8. Annuities and Life For annuities, the Company reinsures portions of the living and death benefit guarantees issued in connection with certain variable annuities to unaffiliated reinsurers. Under these reinsurance agreements, the Company pays a reinsurance premium generally based on fees associated with the guarantees collected from policyholders and receives reimbursement for benefits paid or accrued in excess of account values, subject to certain limitations. The value of MRBs on the ceded risk is determined using a methodology consistent with the guarantees directly written by the Company with the exception of the input for nonperformance risk that reflects the credit of the reinsurer. The Company cedes certain fixed rate annuities to unaffiliated third-party reinsurers and assumes certain index-linked annuities from an unaffiliated third-party insurer. These reinsurance arrangements are structured on a coinsurance basis and are reported as deposit accounting. For its life products, the Company has historically reinsured the mortality risk primarily on an excess of retention basis or on a quota share basis. In addition to reinsuring mortality risk as described above, the Company reinsures other risks, as well as specific coverages. Placement of reinsurance is done primarily on an automatic basis and also on a facultative basis for risks with specified characteristics. On a case-by-case basis, the Company may retain up to $20 million per life and reinsure 100% of amounts in excess of the amount the Company retains. The Company also reinsures 90% of the risk associated with participating whole life policies to a former affiliate and assumes certain term life policies and universal life policies with secondary death benefit guarantees issued by a former affiliate. The Company evaluates its reinsurance programs routinely and may increase or decrease its retention at any time. Corporate & Other The Company reinsures, through 100% quota share reinsurance agreements, certain run-off long-term care and workers’ compensation business written by the Company. At December 31, 2024, the Company had $5.4 billion of reinsurance recoverables associated with its reinsured long-term care business. The reinsurer has established trust accounts for the Company’s benefit to secure their obligations under the reinsurance agreements. Additionally, the Company is indemnified for losses and certain other payment obligations it might incur with respect to such reinsured long-term care insurance business. Catastrophe Coverage Reinsurance Recoverables The Company reinsures its business through a diversified group of primarily highly rated reinsurers. The Company analyzes recent trends in arbitration and litigation outcomes in disputes, if any, with its reinsurers and monitors ratings and the financial strength of its reinsurers. In addition, the reinsurance recoverable balance due from each reinsurer and the recoverability of such balance is evaluated as part of this overall monitoring process. The Company generally secures large reinsurance recoverable balances with various forms of collateral, including secured trusts, funds withheld accounts and irrevocable letters of credit. These reinsurance recoverable balances are stated net of allowances for uncollectible reinsurance, which at both December 31, 2024 and 2023 were not significant. The Company had $6.2 billion and $6.1 billion of unsecured reinsurance recoverable balances with third-party reinsurers at December 31, 2024 and 2023, respectively. The Company records an allowance for credit losses which is a valuation account that reduces reinsurance recoverable balances to present the net amount expected to be collected from reinsurers. When assessing the creditworthiness of the Company’s reinsurance recoverable balances, beyond the analysis of individual claims disputes, the Company considers the financial strength of its reinsurers using public ratings and ratings reports, current existing credit enhancements to reinsurance agreements and the statutory and GAAP financial statements of the reinsurers. Impairments are then determined based on probable and estimable defaults. The Company had an allowance for credit losses of $3 million on its reinsurance recoverable balances at both December 31, 2024 and 2023. At December 31, 2024, the Company had $19.8 billion of net ceded reinsurance recoverables with third-party reinsurers. Of this total, $17.0 billion, or 86%, were with the Company’s five largest ceded reinsurers, including $4.4 billion of net ceded reinsurance recoverables which were unsecured. At December 31, 2023, the Company had $18.9 billion of net ceded reinsurance recoverables with third-party reinsurers. Of this total, $16.8 billion, or 89%, were with the Company’s five largest ceded reinsurers, including $4.3 billion of net ceded reinsurance recoverables which were unsecured. The amounts on the consolidated statements of operations include the impact of reinsurance. Information regarding the significant effects of reinsurance was as follows: Years Ended December 31, 2024 2023 2022 (In millions) Premiums Direct premiums $ 1,395 $ 1,499 $ 1,359 Reinsurance assumed 12 14 6 Reinsurance ceded (637) (685) (703) Net premiums $ 770 $ 828 $ 662 Universal life and investment-type product policy fees Direct universal life and investment-type product policy fees $ 2,976 $ 2,941 $ 3,107 Reinsurance assumed 53 49 45 Reinsurance ceded (913) (695) (717) Net universal life and investment-type product policy fees $ 2,116 $ 2,295 $ 2,435 Other revenues Direct other revenues $ 286 $ 269 $ 292 Reinsurance assumed 7 2 2 Reinsurance ceded 286 212 184 Net other revenues $ 579 $ 483 $ 478 Policyholder benefits and claims Direct policyholder benefits and claims $ 3,959 $ 3,946 $ 3,863 Reinsurance assumed 80 84 112 Reinsurance ceded (1,745) (1,354) (1,782) Net policyholder benefits and claims $ 2,294 $ 2,676 $ 2,193 Change in market risk benefits Direct change in market risk benefits $ (2,713) $ (1,537) $ (4,154) Reinsurance assumed 7 (1) (1) Reinsurance ceded 33 31 51 Net change in market risk benefits $ (2,673) $ (1,507) $ (4,104) The amounts on the consolidated balance sheets include the impact of reinsurance. Information regarding the significant effects of reinsurance was as follows at: December 31, 2024 2023 Direct Assumed Ceded Total Direct Assumed Ceded Total (In millions) Assets Premiums, reinsurance and other receivables (net of allowance for credit losses) $ 507 $ 3 $ 20,616 $ 21,126 $ 463 $ 4 $ 19,294 $ 19,761 Market risk benefit assets $ 1,075 $ — $ 17 $ 1,092 $ 613 $ — $ 43 $ 656 Liabilities Future policy benefits $ 31,366 $ 109 $ — $ 31,475 $ 32,456 $ 113 $ — $ 32,569 Policyholder account balances $ 83,846 $ 4,143 $ — $ 87,989 $ 76,768 $ 4,300 $ — $ 81,068 Market risk benefit liabilities $ 8,313 $ 16 $ — $ 8,329 $ 10,318 $ 5 $ — $ 10,323 Other policy-related balances $ 2,324 $ 1,554 $ — $ 3,878 $ 2,253 $ 1,583 $ — $ 3,836 Other liabilities $ 7,422 $ 25 $ 1,713 $ 9,160 $ 7,138 $ 15 $ 1,286 $ 8,439 Reinsurance agreements that do not expose the Company to a reasonable possibility of a significant loss from insurance risk are recorded using the deposit method of accounting. The deposit assets on reinsurance were $8.5 billion and $7.5 billion at December 31, 2024 and 2023, respectively. The deposit liabilities on reinsurance were $3.8 billion and $3.9 billion at December 31, 2024 and 2023, respectively.

Investments

Investments	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	8. Investments See Notes 1 and 10 for a description of the Company’s accounting policies for investments and the fair value hierarchy for investments and the related valuation methodologies. Fixed Maturity Securities Available-For-Sale Fixed Maturity Securities by Sector Fixed maturity securities by sector were as follows at: December 31, 2024 December 31, 2023 Amortized Cost Allowance for Credit Losses Gross Unrealized Estimated Fair Value Amortized Cost Allowance for Credit Losses Gross Unrealized Estimated Fair Value Gains Losses Gains Losses (In millions) U.S. corporate $ 40,894 $ 47 $ 215 $ 3,939 $ 37,123 $ 38,778 $ 15 $ 388 $ 3,396 $ 35,755 Foreign corporate 13,284 26 53 1,481 11,830 12,865 — 89 1,289 11,665 RMBS 8,120 4 46 875 7,287 8,199 5 48 812 7,430 U.S. government and agency 7,408 — 40 701 6,747 8,656 — 286 523 8,419 CMBS 6,776 4 6 422 6,356 7,023 1 2 614 6,410 ABS 6,354 — 33 75 6,312 6,514 — 23 131 6,406 State and political subdivision 3,731 — 81 371 3,441 4,019 — 159 304 3,874 Foreign government 1,036 — 24 101 959 1,077 — 42 87 1,032 Total fixed maturity securities $ 87,603 $ 81 $ 498 $ 7,965 $ 80,055 $ 87,131 $ 21 $ 1,037 $ 7,156 $ 80,991 The Company held non-income producing fixed maturity securities with an estimated fair value of $30 million and $52 million at December 31, 2024 and 2023, respectively. Maturities of Fixed Maturity Securities The amortized cost and estimated fair value of fixed maturity securities, by contractual maturity date, were as follows at December 31, 2024: Due in One Year or Less Due After One Year Through Five Years Due After Five Years Through Ten Years Due After Ten Years Structured Securities Total Fixed Maturity Securities (In millions) Amortized cost $ 4,052 $ 19,848 $ 13,624 $ 28,829 $ 21,250 $ 87,603 Estimated fair value $ 4,036 $ 19,272 $ 12,381 $ 24,411 $ 19,955 $ 80,055 Actual maturities may differ from contractual maturities due to the exercise of call or prepayment options. Fixed maturity securities not due at a single maturity date have been presented in the year of final contractual maturity. Structured Securities are shown separately, as they are not due at a single maturity. Continuous Gross Unrealized Losses for Fixed Maturity Securities by Sector The estimated fair value and gross unrealized losses of fixed maturity securities in an unrealized loss position, by sector and by length of time that the securities have been in a continuous unrealized loss position, were as follows at: December 31, 2024 December 31, 2023 Less than 12 Months 12 Months or Greater Less than 12 Months 12 Months or Greater Estimated Gross Estimated Gross Estimated Gross Estimated Gross (Dollars in millions) U.S. corporate $ 10,764 $ 719 $ 17,660 $ 3,220 $ 4,554 $ 409 $ 22,796 $ 2,987 Foreign corporate 3,277 351 5,560 1,130 1,010 73 8,311 1,216 RMBS 1,223 81 4,647 794 413 20 5,774 792 U.S. government and agency 2,457 118 1,884 583 518 9 3,477 514 CMBS 1,326 90 4,402 332 411 33 5,786 581 ABS 717 10 1,081 65 572 3 3,360 128 State and political subdivision 882 64 1,447 307 471 32 1,634 272 Foreign government 272 30 431 71 112 6 620 81 Total fixed maturity securities $ 20,918 $ 1,463 $ 37,112 $ 6,502 $ 8,061 $ 585 $ 51,758 $ 6,571 Total number of securities in an unrealized loss position 3,362 5,272 1,347 7,038 Allowance for Credit Losses for Fixed Maturity Securities Evaluation and Measurement Methodologies For fixed maturity securities in an unrealized loss position, management first assesses whether the Company intends to sell, or whether it is more likely than not it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to estimated fair value through net investment gains (losses). For fixed maturity securities that do not meet the aforementioned criteria, management evaluates whether the decline in estimated fair value has resulted from credit losses or other factors. Inherent in management’s evaluation of the security are assumptions and estimates about the operations of the issuer and its future earnings potential. Considerations used in the allowance for credit loss evaluation process include, but are not limited to: (i) the extent to which estimated fair value is less than amortized cost; (ii) any changes to the rating of the security by a rating agency; (iii) adverse conditions specifically related to the security, industry or geographic area; and (iv) payment structure of the fixed maturity security and the likelihood of the issuer being able to make payments in the future or the issuer’s failure to make scheduled interest and principal payments. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss is deemed to exist and an allowance for credit losses is recorded, limited by the amount that the estimated fair value is less than the amortized cost basis, with a corresponding charge to net investment gains (losses). Any unrealized losses that have not been recorded through an allowance for credit losses are recognized in OCI. Once a security specific allowance for credit losses is established, the present value of cash flows expected to be collected from the security continues to be reassessed. Any changes in the security specific allowance for credit losses are recorded as a provision for (or reversal of) credit loss expense in net investment gains (losses). Fixed maturity securities are also evaluated to determine whether any amounts have become uncollectible. When all, or a portion, of a security is deemed uncollectible, the uncollectible portion is written-off with an adjustment to amortized cost and a corresponding reduction to the allowance for credit losses. Accrued interest receivables are presented separate from the amortized cost basis of fixed maturity securities. An allowance for credit losses is not estimated on an accrued interest receivable, rather receivable balances 90-days past due are deemed uncollectible and are written off with a corresponding reduction to net investment income. The accrued interest receivable on fixed maturity securities totaled $672 million and $655 million at December 31, 2024 and 2023, respectively, and is included in accrued investment income. Fixed maturity securities are also evaluated to determine if they qualify as purchased financial assets with credit deterioration (“PCD”). To determine if the credit deterioration experienced since origination is more than insignificant, both (i) the extent of the credit deterioration and (ii) any rating agency downgrades are evaluated. For securities categorized as PCD assets, the present value of cash flows expected to be collected from the security are compared to the par value of the security. If the present value of cash flows expected to be collected is less than the par value, credit losses are embedded in the purchase price of the PCD asset. In this situation, both an allowance for credit losses and amortized cost gross-up is recorded, limited by the amount that the estimated fair value is less than the grossed-up amortized cost basis. Any difference between the purchase price and the present value of cash flows is amortized or accreted into net investment income over the life of the PCD asset. Any subsequent PCD asset allowance for credit losses is evaluated in a manner similar to the process described above for fixed maturity securities. Current Period Evaluation Rollforward of the Allowance for Credit Losses for Fixed Maturity Securities by Sector The changes in the allowance for credit losses for fixed maturity securities by sector were as follows: U.S. Corporate Foreign Corporate RMBS CMBS Total (In millions) Balance at December 31, 2022 $ 1 $ 1 $ 2 $ 3 $ 7 Allowance on securities where credit losses were not previously recorded 15 — 3 — 18 Reductions for securities sold (1) — — (1) (2) Change in allowance on securities with an allowance recorded in a previous period — — — (1) (1) Write-offs charged against allowance (1) — (1) — — (1) Balance at December 31, 2023 15 — 5 1 21 Allowance on securities where credit losses were not previously recorded 29 26 — 3 58 Reductions for securities sold — — — — — Change in allowance on securities with an allowance recorded in a previous period 3 — (1) — 2 Write-offs charged against allowance (1) — — — — — Balance at December 31, 2024 $ 47 $ 26 $ 4 $ 4 $ 81 _______________ (1) The Company recorded total write-offs of $12 million and $8 million for the years ended December 31, 2024 and 2023, respectively. Mortgage Loans Mortgage Loans by Portfolio Segment Mortgage loans are summarized as follows at: December 31, 2024 2023 Carrying % of Carrying % of (Dollars in millions) Commercial $ 13,330 57.2 % $ 13,193 58.6 % Agricultural 4,591 19.7 4,445 19.8 Residential 5,543 23.8 5,007 22.2 Total mortgage loans (1) 23,464 100.7 22,645 100.6 Allowance for credit losses (178) (0.7) (137) (0.6) Total mortgage loans, net $ 23,286 100.0 % $ 22,508 100.0 % _______________ (1) Purchases of mortgage loans from third parties were $1.0 billion and $311 million for the years ended December 31, 2024 and 2023, respectively, and were primarily comprised of residential mortgage loans. Allowance for Credit Losses for Mortgage Loans Evaluation and Measurement Methodologies The allowance for credit losses is a valuation account that is deducted from the mortgage loan’s amortized cost basis to present the net amount expected to be collected on the mortgage loan. The loan balance, or a portion of the loan balance, is written-off against the allowance when management believes this amount is uncollectible. Accrued interest receivables are presented separate from the amortized cost basis of mortgage loans. An allowance for credit losses is generally not estimated on an accrued interest receivable, rather when a loan is placed in nonaccrual status the associated accrued interest receivable balance is written off with a corresponding reduction to net investment income. The accrued interest receivable on mortgage loans is included in accrued investment income and totaled $132 million and $123 million at December 31, 2024 and 2023, respectively. The allowance for credit losses is estimated using relevant available information, from internal and external sources, relating to past events, current conditions, and a reasonable and supportable forecast. Historical credit loss experience provides the basis for estimating expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics and environmental conditions. A reasonable and supportable forecast period of two years is used with an input reversion period of one year. Mortgage loans are evaluated in each of the three portfolio segments to determine the allowance for credit losses. The loan-level loss rates are determined using individual loan terms and characteristics, risk pools/internal ratings, national economic forecasts, prepayment speeds, and estimated default and loss severity. The resulting loss rates are applied to the mortgage loan’s amortized cost to generate an allowance for credit losses. In certain situations, the allowance for credit losses is measured as the difference between the loan’s amortized cost and liquidation value of the collateral. These situations include collateral dependent loans, modifications, foreclosure probable loans, and loans with dissimilar risk characteristics. Mortgage loans are also evaluated to determine if they qualify as PCD assets. To determine if the credit deterioration experienced since origination is more than insignificant, the extent of credit deterioration is evaluated. All re-performing/modified loan (“RPL”) pools purchased after December 31, 2019 are determined to have been acquired with evidence of more than insignificant credit deterioration since origination and are classified as PCD assets. RPLs are pools of residential mortgage loans acquired at a discount or premium which have both credit and non-credit components. For PCD mortgage loans, the allowance for credit losses is determined using a similar methodology described above, except the loss-rate is determined at the pool level instead of the individual loan level. The initial allowance for credit losses, determined on a collective basis, is then allocated to the individual loans. The initial amortized cost of the loan is grossed-up to reflect the sum of the loan’s purchase price and allowance for credit losses. The difference between the grossed-up amortized cost basis and the par value of the loan is a non-credit discount or premium, which is accreted or amortized into net investment income over the remaining life of the loan. Any subsequent PCD mortgage loan allowance for credit losses is evaluated in a manner similar to the process described above for each of the three portfolio segments. Rollforward of the Allowance for Credit Losses for Mortgage Loans by Portfolio Segment The changes in the allowance for credit losses by portfolio segment were as follows: Commercial Agricultural Residential Total (In millions) Balance at December 31, 2022 $ 49 $ 15 $ 55 $ 119 Current period provision 24 5 (6) 23 Charge-offs, net of recoveries (4) (1) — (5) Balance at December 31, 2023 69 19 49 137 Current period provision 50 11 (7) 54 Charge-offs, net of recoveries (13) — — (13) Balance at December 31, 2024 $ 106 $ 30 $ 42 $ 178 Credit Quality of Mortgage Loans by Portfolio Segment The amortized cost of mortgage loans by year of origination and credit quality indicator was as follows at: 2024 2023 2022 2021 2020 Prior Total (In millions) December 31, 2024 Commercial mortgage loans Loan-to-value ratios: Less than 65% $ 640 $ 199 $ 279 $ 1,850 $ 196 $ 2,846 $ 6,010 65% to 75% 208 — 1,022 713 62 1,171 3,176 76% to 80% — — 117 201 174 602 1,094 Greater than 80% — — 972 388 — 1,690 3,050 Total commercial mortgage loans 848 199 2,390 3,152 432 6,309 13,330 Agricultural mortgage loans Loan-to-value ratios: Less than 65% 410 203 594 1,073 402 1,655 4,337 65% to 75% — 18 80 113 6 20 237 76% to 80% — — — — 1 — 1 Greater than 80% — — — — — 16 16 Total agricultural mortgage loans 410 221 674 1,186 409 1,691 4,591 Residential mortgage loans Performing 586 222 1,268 1,640 146 1,563 5,425 Nonperforming 1 — 44 21 1 51 118 Total residential mortgage loans 587 222 1,312 1,661 147 1,614 5,543 Total $ 1,845 $ 642 $ 4,376 $ 5,999 $ 988 $ 9,614 $ 23,464 2023 2022 2021 2020 2019 Prior Total (In millions) December 31, 2023 Commercial mortgage loans Loan-to-value ratios: Less than 65% $ 206 $ 655 $ 1,823 $ 177 $ 1,239 $ 2,630 $ 6,730 65% to 75% — 935 1,079 222 261 1,158 3,655 76% to 80% — 427 76 39 209 564 1,315 Greater than 80% — 400 227 — 150 716 1,493 Total commercial mortgage loans 206 2,417 3,205 438 1,859 5,068 13,193 Agricultural mortgage loans Loan-to-value ratios: Less than 65% 202 571 1,132 454 505 1,292 4,156 65% to 75% 1 127 108 6 30 17 289 76% to 80% — — — — — — — Greater than 80% — — — — — — — Total agricultural mortgage loans 203 698 1,240 460 535 1,309 4,445 Residential mortgage loans Performing 105 1,286 1,669 145 204 1,508 4,917 Nonperforming — 22 22 1 2 43 90 Total residential mortgage loans 105 1,308 1,691 146 206 1,551 5,007 Total $ 514 $ 4,423 $ 6,136 $ 1,044 $ 2,600 $ 7,928 $ 22,645 The loan-to-value ratio is a measure commonly used to assess the quality of commercial and agricultural mortgage loans. The loan-to-value ratio compares the amount of the loan to the estimated fair value of the underlying property collateralizing the loan and is commonly expressed as a percentage. A loan-to-value ratio less than 100% indicates an excess of collateral value over the loan amount. Loan-to-value ratios greater than 100% indicate that the loan amount exceeds the collateral value. Performing status is a measure commonly used to assess the quality of residential mortgage loans. A loan is considered performing when the borrower makes consistent and timely payments. The amortized cost of commercial mortgage loans by debt-service coverage ratio was as follows at: December 31, 2024 2023 Amortized Cost % of Amortized Cost % of (Dollars in millions) Debt-service coverage ratios: Greater than 1.20x $ 12,033 90.3 % $ 12,086 91.6 % 1.00x - 1.20x 801 6.0 702 5.3 Less than 1.00x 496 3.7 405 3.1 Total $ 13,330 100.0 % $ 13,193 100.0 % The debt-service coverage ratio compares a property’s net operating income to its debt-service payments. Debt-service coverage ratios less than 1.00 times indicate that property operations do not generate enough income to cover the loan’s current debt payments. A debt-service coverage ratio greater than 1.00 times indicates an excess of net operating income over the debt-service payments. Past Due Mortgage Loans by Portfolio Segment The Company has a high-quality, well-performing mortgage loan portfolio, with 99% of all mortgage loans classified as performing at both December 31, 2024 and 2023. Delinquency is defined consistent with industry practice, when mortgage loans are past due as follows: commercial and residential mortgage loans — 60 days; and agricultural mortgage loans — 90 days. The aging of the amortized cost of past due mortgage loans by portfolio segment was as follows at: December 31, 2024 2023 Commercial Agricultural Residential Total Commercial Agricultural Residential Total (In millions) Current $ 13,210 $ 4,566 $ 5,423 $ 23,199 $ 13,176 $ 4,429 $ 4,915 $ 22,520 30-59 days past due — — 2 2 — — 2 2 60-89 days past due — — 36 36 — — 30 30 90-179 days past due 21 9 36 66 — — 23 23 180+ days past due 99 16 46 161 17 16 37 70 Total $ 13,330 $ 4,591 $ 5,543 $ 23,464 $ 13,193 $ 4,445 $ 5,007 $ 22,645 Mortgage Loans in Nonaccrual Status by Portfolio Segment Mortgage loans are placed in a nonaccrual status if there are concerns regarding collectability of future payments or the loan is past due, unless the past due loan is well collateralized. The amortized cost of mortgage loans in a nonaccrual status by portfolio segment was as follows at: Commercial Agricultural Residential (1) Total (In millions) December 31, 2024 $ 120 $ 25 $ 118 $ 263 December 31, 2023 $ 17 $ — $ 90 $ 107 _______________ (1) The Company had $3 million of mortgage loans in nonaccrual status for which there was no related allowance for credit losses at December 31, 2024. The Company did not have any mortgage loans in nonaccrual status for which there was no related allowance for credit losses at December 31, 2023. Modified Mortgage Loans by Portfolio Segment Under certain circumstances, modifications are granted to nonperforming mortgage loans. Generally, the types of concessions may include interest rate reduction, term extension, principal forgiveness, or a combination of all three. As of December 31, 2024, the Company has $386 million of commercial mortgage loans that were modified under a term extension during the year which represent 2% of the carrying value of total mortgage loans. All commercial mortgage loans that were modified are current as of December 31, 2024. The Company did not have a significant amount of agricultural and residential mortgage loans modified during the year ended December 31, 2024. The Company did not have a significant amount of mortgage loans modified during the year ended December 31, 2023. Other Invested Assets Over 75% of other invested assets is comprised of freestanding derivatives with positive estimated fair values. See Note 9 for information about freestanding derivatives with positive estimated fair values. Other invested assets also includes the Company’s investment in company-owned life insurance, FHLB stock, leveraged leases and tax credit and renewable energy partnerships. Leveraged Leases The carrying value of leveraged leases was $60 million and $47 million at December 31, 2024 and 2023, respectively. The allowance for credit losses was less than $1 million and $13 million at December 31, 2024 and 2023, respectively. Rental receivables are generally due in periodic installments. The payment periods for leveraged leases generally range from one Net Unrealized Investment Gains (Losses) Unrealized investment gains (losses) on fixed maturity securities, and the effect on future policy benefits that would result from the realization of the unrealized gains (losses), are included in net unrealized investment gains (losses) in AOCI. The components of net unrealized investment gains (losses), included in AOCI, were as follows: Years Ended December 31, 2024 2023 2022 (In millions) Fixed maturity securities $ (7,467) $ (6,119) $ (8,760) Derivatives 469 351 638 Other (12) 2 3 Subtotal (7,010) (5,766) (8,119) Amounts allocated from: Future policy benefits 977 652 917 Deferred income tax benefit (expense) 1,267 1,074 1,512 Net unrealized investment gains (losses) $ (4,766) $ (4,040) $ (5,690) The changes in net unrealized investment gains (losses) were as follows: Years Ended December 31, 2024 2023 2022 (In millions) Balance at January 1, $ (4,040) $ (5,690) $ 5,524 Unrealized investment gains (losses) during the year (1,244) 2,353 (16,766) Unrealized investment gains (losses) relating to: Future policy benefits 325 (265) 2,572 Deferred income tax benefit (expense) 193 (438) 2,980 Balance at December 31, $ (4,766) $ (4,040) $ (5,690) Change in net unrealized investment gains (losses) $ (726) $ 1,650 $ (11,214) Concentrations of Credit Risk There were no investments in any counterparty that were greater than 10% of the Company’s equity, other than the U.S. government and its agencies, at both December 31, 2024 and 2023. Securities Lending Elements of the securities lending program are presented below at: December 31, 2024 2023 (In millions) Securities on loan: (1) Amortized cost $ 3,582 $ 3,420 Estimated fair value $ 3,127 $ 3,194 Cash collateral received from counterparties (2) $ 3,210 $ 3,277 Reinvestment portfolio — estimated fair value $ 3,217 $ 3,246 _______________ (1) Included in fixed maturity securities. (2) Included in payables for collateral under securities loaned and other transactions. The cash collateral liability by loaned security type and remaining tenor of the agreements were as follows at: December 31, 2024 December 31, 2023 Open (1) 1 Month or Less 1 to 6 Months Total Open (1) 1 Month or Less 1 to 6 Months Total (In millions) U.S. government and agency $ 490 $ 1,467 $ 886 $ 2,843 $ 647 $ 655 $ 1,584 $ 2,886 U.S. corporate — 248 — 248 — 252 — 252 Foreign corporate — 105 — 105 — 130 — 130 Foreign government — 14 — 14 — 9 — 9 Total $ 490 $ 1,834 $ 886 $ 3,210 $ 647 $ 1,046 $ 1,584 $ 3,277 _______________ (1) The related loaned security could be returned to the Company on the next business day which would require the Company to immediately return the cash collateral. If the Company is required to return significant amounts of cash collateral on short notice and is forced to sell securities to meet the return obligation, it may have difficulty selling such collateral that is invested in securities in a timely manner, be forced to sell securities in a volatile or illiquid market for less than what otherwise would have been realized in normal market conditions, or both. The estimated fair value of the securities on loan related to the cash collateral on open at December 31, 2024 was $478 million, primarily comprised of U.S. government and agency securities which, if put back to the Company, could be immediately sold to satisfy the cash requirement. The reinvestment portfolio acquired with the cash collateral consisted principally of fixed maturity securities (including agency RMBS, ABS, U.S. and foreign corporate securities, U.S. government and agency securities, non-agency RMBS and CMBS) with 51% invested in agency RMBS, U.S. government and agency securities and cash and cash equivalents at December 31, 2024. If the securities on loan or the reinvestment portfolio become less liquid, the Company has the liquidity resources of most of its general account available to meet any potential cash demands when securities on loan are put back to the Company. Invested Assets on Deposit, Held in Trust and Pledged as Collateral Invested assets on deposit, held in trust and pledged as collateral at estimated fair value were as follows at: December 31, 2024 2023 (In millions) Invested assets on deposit (regulatory deposits) (1) $ 6,249 $ 8,593 Invested assets held in trust (reinsurance agreements) (2) 8,274 7,142 Invested assets pledged as collateral (3) 12,471 13,979 Total invested assets on deposit, held in trust and pledged as collateral $ 26,994 $ 29,714 _______________ (1) The Company has assets, primarily fixed maturity securities, on deposit with governmental authorities relating to certain policyholder liabilities, of which $68 million and $102 million of the assets on deposit represents restricted cash and cash equivalents at December 31, 2024 and 2023, respectively. (2) The Company has assets, primarily fixed maturity securities, held in trust relating to certain reinsurance transactions, of which $334 million and $120 million of the assets held in trust balance represents restricted cash and cash equivalents at December 31, 2024 and 2023, respectively. (3) The Company has pledged invested assets in connection with various agreements and transactions, including funding agreements (see Note 3) and derivative transactions (see Note 9). See “— Securities Lending” for information regarding securities on loan. In addition, the Company’s investment in FHLB common stock, which is considered restricted until redeemed by the issuer, was $222 million and $245 million at redemption value at December 31, 2024 and 2023, respectively. Collectively Significant Equity Method Investments The Company holds investments in limited partnerships and LLCs consisting of leveraged buy-out funds, private equity funds, joint ventures and other funds. The portion of these investments accounted for under the equity method had a carrying value of $4.8 billion at December 31, 2024. The Company’s maximum exposure to loss related to these equity method investments is the carrying value of these investments plus unfunded commitments of $1.3 billion at December 31, 2024. The Company’s investments in limited partnerships and LLCs are generally of a passive nature in that the Company does not participate in the management of the entities. As described in Note 1, the Company generally records its share of earnings in its equity method investments using a three-month lag methodology and within net investment income. Aggregate net investment income from these equity method investments exceeded 10% of the Company’s consolidated pre-tax income (loss) for each of the years ended December 31, 2024, 2023 and 2022. This aggregated summarized financial data does not represent the Company’s proportionate share of the assets, liabilities or earnings of such entities. The aggregated summarized financial data presented below reflects the latest available financial information and is as of and for the years ended December 31, 2024, 2023 and 2022. Aggregate total assets of these entities totaled $904.0 billion and $799.2 billion at December 31, 2024 and 2023, respectively. Aggregate total liabilities of these entities totaled $78.5 billion and $56.8 billion at December 31, 2024 and 2023, respectively. Aggregate net income (loss) of these entities totaled $60.1 billion, $24.8 billion and ($12.8) billion for the years ended December 31, 2024, 2023 and 2022, respectively. Aggregate net income (loss) from the underlying entities in which the Company invests is primarily comprised of investment income, including recurring investment income and realized and unrealized investment gains (losses). Variable Interest Entities A variable interest entity (“VIE”) is a legal entity that does not have sufficient equity at risk to finance its activities or is structured such that equity investors lack the ability to make significant decisions relating to the entity’s operations through voting rights or do not substantively participate in the gains and losses of the entity. The Company enters into various arrangements with VIEs in the normal course of business and has invested in legal entities that are VIEs. VIEs are consolidated when it is determined that the Company is the primary beneficiary. A primary beneficiary is the variable interest holder in a VIE with both (i) the power to direct the activities of the VIE that most significantly impact the economic performance of the VIE and (ii) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. In addition, the evaluation of whether a legal entity is a VIE and if the Company is a primary beneficiary includes a review of the capital structure of the VIE, the related contractual relationships and terms, the nature of the operations and purpose of the VIE, the nature of the VIE interests issued and the Company’s involvement with the entity. There were no material VIEs for which the Company has concluded that it is the primary beneficiary at either December 31, 2024 or 2023. The carrying amount and maximum exposure to loss related to the VIEs for which the Company has concluded that it holds a variable interest, but is not the primary beneficiary, were as follows at: December 31, 2024 2023 Carrying Maximum Carrying Maximum (In millions) Fixed maturity securities $ 14,375 $ 15,474 $ 15,526 $ 16,771 Limited partnerships and LLCs 4,236 5,278 4,233 5,255 Total $ 18,611 $ 20,752 $ 19,759 $ 22,026 The Company’s investments in unconsolidated VIEs are described below. Fixed Maturity Securities The Company invests in U.S. corporate bonds, foreign corporate bonds and Structured Securities issued by VIEs. The Company is not obligated to provide any financial or other support to these VIEs, other than the original investment. The Company’s involvement with these entities is limited to that of a passive investor. The Company has no unilateral right to appoint or remove the servicer, special servicer, or investment manager, which are generally viewed as having the power to direct the activities that most significantly impact the economic performance of the VIE, nor does the Company function in any of these roles. The Company does not have the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the entity; as a result, the Company has determined it is not the primary beneficiary, or consolidator, of the VIE. The Company’s maximum exposure to loss on these fixed maturity securities is limited to the amortized cost of these investments. See “— Fixed Maturity Securities Available-For-Sale” for information on these securities. Limited Partnerships and LLCs The Company holds investments in certain limited partnerships and LLCs which are VIEs. These ventures include limited partnerships, LLCs, private equity funds, and, to a lesser extent, tax credit and renewable energy partnerships. The Company is not considered the primary beneficiary, or consolidator, when its involvement takes the form of a limited partner interest and is restricted to a role of a passive investor, as a limited partner’s interest does not provide the Company with any substantive kick-out or participating rights, nor does it provide the Company with the power to direct the activities of the fund. The Company’s maximum exposure to loss on these investments is limited to: (i) the amount invested in debt or equity of the VIE and (ii) commitments to the VIE, as described in Note 17. Net Investment Income The components of net investment income were as follows: Years Ended December 31, 2024 2023 2022 (In millions) Investment income: Fixed maturity securities $ 3,746 $ 3,516 $ 3,077 Equity securities 3 3 3 Mortgage loans 1,002 958 842 Policy loans 69 67 64 Limited partnerships and LLCs (1) 357 168 263 Cash, cash equivalents and short-term investments 286 225 72 Other 107 87 69 Total investment income 5,570 5,024 4,390 Less: Investment expenses 348 360 252 Net investment income $ 5,222 $ 4,664 $ 4,138 _______________ (1) Includes net investment income pertaining to other limited partnership interests of $367 million, $187 million and $170 million for the years ended December 31, 2024, 2023 and 2022, respectively. Net Investment Gains (Losses) Components of Net Investment Gains (Losses) The components of net inves

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	9. Derivatives Accounting for Derivatives See Note 1 for a description of the Company’s accounting policies for derivatives and Note 10 for information about the fair value hierarchy for derivatives. Derivative Strategies The Company maintains an overall risk management strategy that incorporates the use of derivative instruments to minimize its exposure to various market risks, including interest rate, foreign currency exchange rate, credit and equity market. Derivatives are financial instruments with values derived from interest rates, foreign currency exchange rates, credit spreads and/or other financial indices. Derivatives may be exchange-traded or contracted in the over-the-counter (“OTC”) market. Certain of the Company’s OTC derivatives are cleared and settled through central clearing counterparties (“OTC-cleared”), while others are bilateral contracts between two counterparties (“OTC-bilateral”). Interest Rate Derivatives The Company uses derivatives to manage its exposure to changes in interest rate risk from its product liabilities and invested assets. The most significant types of derivative instruments used for hedging interest rate risk are as follows: Interest rate swaps: The Company uses interest rate swaps to manage interest rate risk in both qualified cash flow and non-qualifying hedging relationships. In an interest rate swap, the Company agrees with another party to exchange, at specified intervals, the difference between fixed rate and floating rate interest amounts as calculated by reference to an agreed notional amount. Interest rate swaptions: The Company uses interest rate swaptions to manage interest rate risk in non-qualifying hedging relationships. A swaption is an option to enter into a swap with a forward starting effective date. The Company pays a premium for purchased swaptions and receives a premium for written swaptions. Interest rate swaptions are included in interest rate options. Interest rate forwards: The Company uses interest rate forwards to manage interest rate risk in both qualified cash flow and non-qualifying hedging relationships. An interest rate forward is an agreement between parties to exchange a future settlement amount based on a predetermined notional amount and forward interest rate. Foreign Currency Exchange Rate Derivatives Foreign currency swaps: The Company uses foreign currency swaps to convert foreign currency denominated cash flows to U.S. dollars to reduce cash flow fluctuations due to changes in currency exchange rates. Foreign currency swaps are used in cash flow and non-qualifying hedging relationships. Foreign currency forwards: The Company uses foreign currency forwards to hedge currency exposure on its invested assets. Foreign currency forwards are used in non-qualifying hedging relationships. Credit Derivatives Credit default swaps: The Company uses credit default swaps to create synthetic credit investments to replicate credit exposure that is more economically attractive than what is available in the market or otherwise unavailable (written credit protection). Credit default swaps are used in non-qualifying hedging relationships. Credit default swaptions: The Company uses credit default swaptions to synthetically create investments that are either more expensive to acquire or otherwise unavailable in the cash markets. Swaptions are used to create callable bonds from replication synthetic asset transaction (“RSAT”) positions. This enhances the income of the RSAT program through earned premiums while not changing the credit profile of the RSATs. Credit default swaptions are used in non-qualifying hedging relationships. Equity Market Derivatives The Company uses derivatives to manage its exposure to equity markets from its product liabilities. The most significant types of derivative instruments used for hedging equity market risk are as follows: Equity total return swaps: The Company uses equity total return swaps in non-qualifying hedge relationships to manage equity risks related to variable and index-linked annuities. Total return swaps are swaps whereby the Company agrees with another party to exchange, at specified intervals, the difference between the economic risk and reward of an asset or a market index and a floating rate, calculated by reference to an agreed notional amount. Equity index options: The Company uses equity index options to manage equity risks related to variable and index-linked annuities in non-qualifying hedging relationships. In an equity index option transaction, the Company enters into contracts to buy or sell the equity index within a limited time at a contracted price. In certain instances, the Company may enter into a combination of transactions to hedge adverse changes in equity indices within a pre-determined range through the purchase and sale of options. Primary Risks Managed by Derivatives The primary underlying risk exposure, gross notional amount and estimated fair value of derivatives, excluding embedded derivatives, held were as follows at: December 31, 2024 2023 Primary Underlying Risk Exposure Gross Notional Amount Estimated Fair Value Gross Notional Amount Estimated Fair Value Assets Liabilities Assets Liabilities (In millions) Derivatives Designated as Hedging Instruments: Cash flow hedges: Interest rate swaps Interest rate $ 500 $ 9 $ — $ — $ — $ — Foreign currency swaps Foreign currency exchange rate 3,823 439 25 3,939 348 45 Total qualifying hedges 4,323 448 25 3,939 348 45 Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate swaps Interest rate 69,303 131 444 31,252 140 103 Interest rate floors Interest rate 8,000 1 30 3,500 7 1 Interest rate caps Interest rate 7,850 14 14 7,050 19 1 Interest rate futures Interest rate 171 — — — — — Interest rate options Interest rate 23,060 11 371 33,680 47 167 Interest rate forwards Interest rate 16,352 121 1,876 17,017 32 1,937 Foreign currency swaps Foreign currency exchange rate 685 113 — 747 101 1 Foreign currency forwards Foreign currency exchange rate 386 12 — 535 — 9 Credit default swaps — written Credit 780 19 — 1,405 27 — Equity futures Equity market 316 — 1 — — — Equity index options Equity market 39,897 1,722 1,041 20,099 757 687 Equity total return swaps Equity market 106,301 1,543 1,446 53,742 2,236 2,137 Hybrid options Equity market — — — 270 — — Total non-designated or non-qualifying derivatives 273,101 3,687 5,223 169,297 3,366 5,043 Total $ 277,424 $ 4,135 $ 5,248 $ 173,236 $ 3,714 $ 5,088 Based on gross notional amounts, a substantial portion of the Company’s derivatives was not designated or did not qualify as part of a hedging relationship at both December 31, 2024 and 2023. The Company’s use of derivatives includes (i) derivatives that serve as hedges of the Company’s exposure to various risks and generally do not qualify for hedge accounting because they do not meet the criteria required under portfolio hedging rules; (ii) derivatives that economically hedge insurance liabilities and generally do not qualify for hedge accounting because they do not meet the criteria of being “highly effective” as outlined in Accounting Standards Codification 815 — Derivatives and Hedging; (iii) derivatives that economically hedge MRBs that do not qualify for hedge accounting because the changes in estimated fair value of the MRBs are already recorded in net income; and (iv) written credit default swaps that are used to create synthetic credit investments and that do not qualify for hedge accounting because they do not involve a hedging relationship. The amount and location of gains (losses), including earned income, recognized for derivatives and gains (losses) pertaining to hedged items reported in net derivative gains (losses) were as follows: Year Ended December 31, 2024 Net Derivative Gains (Losses) Recognized for Derivatives Net Derivative Gains (Losses) Recognized for Hedged Items Net Investment Income Policyholder Benefits and Claims Amount of Gains (Losses) Deferred in AOCI (In millions) Derivatives Designated as Hedging Instruments: Cash flow hedges: Interest rate $ 2 $ — $ 3 $ 8 $ 9 Foreign currency exchange rate 13 (10) 51 — 127 Total cash flow hedges 15 (10) 54 8 136 Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate (1,690) — — — — Foreign currency exchange rate 69 (9) — — — Credit 14 — — — — Equity market 1,894 — — — — Embedded (3,951) — — — — Total non-qualifying hedges (3,664) (9) — — — Total $ (3,649) $ (19) $ 54 $ 8 $ 136 Year Ended December 31, 2023 Net Derivative Gains (Losses) Recognized for Derivatives Net Derivative Gains (Losses) Recognized for Hedged Items Net Investment Income Policyholder Benefits and Claims Amount of Gains (Losses) Deferred in AOCI (In millions) Derivatives Designated as Hedging Instruments: Cash flow hedges: Interest rate $ 1 $ — $ 3 $ — $ (1) Foreign currency exchange rate 7 (8) 52 — (275) Total cash flow hedges 8 (8) 55 — (276) Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate (384) — — — — Foreign currency exchange rate (15) (13) — — — Credit 32 — — — — Equity market 570 — — — — Embedded (4,097) — — — — Total non-qualifying hedges (3,894) (13) — — — Total $ (3,886) $ (21) $ 55 $ — $ (276) Year Ended December 31, 2022 Net Derivative Gains (Losses) Recognized for Derivatives Net Derivative Gains (Losses) Recognized for Hedged Items Net Investment Income Policyholder Benefits and Claims Amount of Gains (Losses) Deferred in AOCI (In millions) Derivatives Designated as Hedging Instruments: Cash flow hedges: Interest rate $ 5 $ — $ 4 $ — $ (50) Foreign currency exchange rate 13 (12) 53 — 381 Total cash flow hedges 18 (12) 57 — 331 Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate (4,001) — — — — Foreign currency exchange rate 120 (48) — — — Credit (2) — — — — Equity market 590 — — — — Embedded 2,743 — — — — Total non-qualifying hedges (550) (48) — — — Total $ (532) $ (60) $ 57 $ — $ 331 At December 31, 2024 and 2023, the Company held no qualified derivatives hedging exposure to future cash flows for forecasted asset purchases. At December 31, 2024 and 2023, the balance in AOCI associated with cash flow hedges was $469 million and $351 million, respectively. Credit Derivatives In connection with synthetically created credit investment transactions, the Company writes credit default swaps for which it receives a premium to insure credit risk. If a credit event occurs, as defined by the contract, the contract may be cash settled or it may be settled gross by the Company paying the counterparty the specified swap notional amount in exchange for the delivery of par quantities of the referenced credit obligation. The estimated fair value, maximum amount of future payments and weighted average years to maturity of written credit default swaps were as follows at: December 31, 2024 2023 Rating Agency Designation of Referenced Estimated Maximum Weighted Average Years to Maturity (2) Estimated Maximum Weighted Average Years to Maturity (2) (Dollars in millions) Aaa/Aa/A $ 2 $ 100 2.7 $ 6 $ 419 1.6 Baa 7 300 4.5 19 958 4.9 Ba 10 376 4.8 2 24 3.0 Caa and Lower — 4 1.0 — 4 2.0 Total $ 19 $ 780 4.4 $ 27 $ 1,405 3.9 _______________ (1) The Company has written credit protection on both single name and index references. The rating agency designations are based on availability and the midpoint of the applicable ratings among Moody’s, S&P and Fitch. If no rating is available from a rating agency, then an internally developed rating is used. (2) The weighted average years to maturity of the credit default swaps is calculated based on weighted average gross notional amounts. Counterparty Credit Risk The Company may be exposed to credit-related losses in the event of counterparty nonperformance on derivative instruments. Generally, the credit exposure is the fair value at the reporting date less any collateral received from the counterparty. The Company manages its credit risk by: (i) entering into derivative transactions with creditworthy counterparties governed by master netting agreements; (ii) trading through regulated exchanges and central clearing counterparties; (iii) obtaining collateral, such as cash and securities, when appropriate; and (iv) setting limits on single party credit exposures which are subject to periodic management review. See Note 10 for a description of the impact of credit risk on the valuation of derivatives. The estimated fair values of net derivative assets and net derivative liabilities after the application of master netting agreements and collateral were as follows at: Gross Amounts Not Offset on the Consolidated Balance Sheets Gross Amount Recognized Financial Instruments (1) Collateral Received/Pledged (2) Net Amount Securities Collateral Received/Pledged (3) Net Amount After Securities Collateral (In millions) December 31, 2024 Derivative assets $ 4,140 $ (3,039) $ (540) $ 561 $ (559) $ 2 Derivative liabilities $ 5,353 $ (3,039) $ — $ 2,314 $ (2,306) $ 8 December 31, 2023 Derivative assets $ 3,506 $ (3,112) $ (164) $ 230 $ (194) $ 36 Derivative liabilities $ 4,925 $ (3,112) $ (8) $ 1,805 $ (1,805) $ — _______________ (1) Represents amounts subject to an enforceable master netting agreement or similar agreement. (2) The amount of cash collateral offset in the table above is limited to the net estimated fair value of derivatives after application of netting agreement. (3) Securities collateral received from counterparties is not reported on the consolidated balance sheets and may not be sold or re-pledged unless the counterparty is in default. Amounts do not include excess of collateral pledged or received. The Company’s collateral arrangements generally require the counterparty in a net liability position, after considering the effect of netting agreements, to pledge collateral when the amount owed by that counterparty reaches a minimum transfer amount. Certain of these arrangements also include credit-contingent provisions which permit the party with positive fair value to terminate the derivative at the current fair value or demand immediate full collateralization from the party in a net liability position, in the event that the financial strength or credit rating of the party in a net liability position falls below a certain level. The aggregate estimated fair values of derivatives in a net liability position containing such credit-contingent provisions and the aggregate estimated fair value of assets posted as collateral for such instruments were as follows at: December 31, 2024 2023 (In millions) Estimated fair value of derivatives in a net liability position (1) $ 2,314 $ 1,813 Estimated fair value of collateral provided (2): Fixed maturity securities $ 4,883 $ 4,811 _______________ (1) After taking into consideration the existence of netting agreements. (2) Substantially all of the Company’s collateral arrangements provide for daily posting of collateral for the full value of the derivative contract. As a result, if the credit-contingent provisions of derivative contracts in a net liability position were triggered, minimal additional assets would be required to be posted as collateral or needed to settle the instruments immediately. Additionally, the Company is required to pledge initial margin for certain new OTC-bilateral derivative transactions to third-party custodians.

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value	10. Fair Value When developing estimated fair values, the Company considers three broad valuation techniques: (i) the market approach, (ii) the income approach, and (iii) the cost approach. The Company determines the most appropriate valuation technique to use, given what is being measured and the availability of sufficient inputs, giving priority to observable inputs. The Company categorizes its assets and liabilities measured at estimated fair value into a three-level hierarchy, based on the significant input with the lowest level in its valuation. The input levels are as follows: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities. The Company defines active markets based on average trading volume for equity securities. The size of the bid/ask spread is used as an indicator of market activity for fixed maturity securities. Level 2 Quoted prices in markets that are not active or inputs that are observable either directly or indirectly. These inputs can include quoted prices for similar assets or liabilities other than quoted prices in Level 1, quoted prices in markets that are not active, or other significant inputs that are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Unobservable inputs that are supported by little or no market activity and are significant to the determination of estimated fair value of the assets or liabilities. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the asset or liability. Recurring Fair Value Measurements The assets and liabilities measured at estimated fair value on a recurring basis and their corresponding placement in the fair value hierarchy are presented in the tables below. Investments that do not have a readily determinable fair value and are measured at net asset value (or equivalent) as a practical expedient to estimated fair value are excluded from the fair value hierarchy. December 31, 2024 Fair Value Hierarchy Level 1 Level 2 Level 3 Total Estimated Fair Value (In millions) Assets Fixed maturity securities: U.S. corporate $ — $ 36,427 $ 696 $ 37,123 Foreign corporate — 11,434 396 11,830 RMBS — 7,270 17 7,287 U.S. government and agency 2,731 4,016 — 6,747 CMBS — 6,330 26 6,356 ABS — 5,990 322 6,312 State and political subdivision — 3,441 — 3,441 Foreign government — 938 21 959 Total fixed maturity securities 2,731 75,846 1,478 80,055 Equity securities 56 6 15 77 Short-term investments 1,414 452 2 1,868 Derivative assets: (1) Interest rate — 287 — 287 Foreign currency exchange rate — 557 7 564 Credit — 17 2 19 Equity market — 3,265 — 3,265 Total derivative assets — 4,126 9 4,135 Embedded derivatives on index-linked annuities (2) — — 47 47 Market risk benefit assets — — 1,092 1,092 Separate account assets 3 85,633 — 85,636 Total assets $ 4,204 $ 166,063 $ 2,643 $ 172,910 Liabilities Market risk benefit liabilities $ — $ — $ 8,329 $ 8,329 Derivative liabilities: (1) Interest rate — 2,735 — 2,735 Foreign currency exchange rate — 25 — 25 Equity market 1 2,487 — 2,488 Total derivative liabilities 1 5,247 — 5,248 Embedded derivatives on index-linked annuities (2) — — 11,540 11,540 Total liabilities $ 1 $ 5,247 $ 19,869 $ 25,117 December 31, 2023 Fair Value Hierarchy Level 1 Level 2 Level 3 Total Estimated (In millions) Assets Fixed maturity securities: U.S. corporate $ — $ 34,760 $ 995 $ 35,755 Foreign corporate — 11,340 325 11,665 RMBS — 7,415 15 7,430 U.S. government and agency 3,786 4,633 — 8,419 CMBS — 6,371 39 6,410 ABS — 6,080 326 6,406 State and political subdivision — 3,874 — 3,874 Foreign government — 996 36 1,032 Total fixed maturity securities 3,786 75,469 1,736 80,991 Equity securities 55 22 25 102 Short-term investments 614 555 — 1,169 Derivative assets: (1) Interest rate — 245 — 245 Foreign currency exchange rate — 437 12 449 Credit — 21 6 27 Equity market — 2,993 — 2,993 Total derivative assets — 3,696 18 3,714 Embedded derivatives on index-linked annuities (2) — — — — Market risk benefit assets — — 656 656 Separate account assets 20 88,251 — 88,271 Total assets $ 4,475 $ 167,993 $ 2,435 $ 174,903 Liabilities Market risk benefit liabilities $ — $ — $ 10,323 $ 10,323 Derivative liabilities: (1) Interest rate — 2,209 — 2,209 Foreign currency exchange rate — 55 — 55 Equity market — 2,824 — 2,824 Total derivative liabilities — 5,088 — 5,088 Embedded derivatives on index-linked annuities (2) — — 8,186 8,186 Total liabilities $ — $ 5,088 $ 18,509 $ 23,597 _______________ (1) Derivative assets are reported in other invested assets and derivative liabilities are reported in other liabilities. The amounts are presented gross in the tables above to reflect the presentation on the consolidated balance sheets. (2) Embedded derivative assets on index-linked annuities are reported in premiums and other receivables. Embedded derivative liabilities on index-linked annuities are reported in policyholder account balances. Valuation Controls and Procedures The Company monitors and provides oversight of valuation controls and policies for securities, mortgage loans and derivatives, which are primarily executed by its valuation service providers. The valuation methodologies used to determine fair values prioritize the use of observable market prices and market-based parameters and determines that judgmental valuation adjustments, when applied, are based upon established policies and are applied consistently over time. The valuation methodologies for securities, mortgage loans and derivatives are reviewed on an ongoing basis and revised when necessary. In addition, the Chief Accounting Officer periodically reports to the Audit Committee of BHF’s Board of Directors regarding compliance with fair value accounting standards. The fair value of financial assets and financial liabilities is based on quoted market prices, where available. Prices received are assessed to determine if they represent a reasonable estimate of fair value. Several controls are performed, including certain monthly controls, which include, but are not limited to, analysis of portfolio returns to corresponding benchmark returns, comparing a sample of executed prices of securities sold to the fair value estimates, reviewing the bid/ask spreads to assess activity, comparing prices from multiple independent pricing services and ongoing due diligence to confirm that independent pricing services use market-based parameters. The process includes a determination of the observability of inputs used in estimated fair values received from independent pricing services or brokers by assessing whether these inputs can be corroborated by observable market data. Independent non-binding broker quotes, also referred to herein as “consensus pricing,” are used for a non-significant portion of the portfolio. Prices received from independent brokers are assessed to determine if they represent a reasonable estimate of fair value by considering such pricing relative to the current market dynamics and current pricing for similar financial instruments. A formal process is also applied to challenge any prices received from independent pricing services that are not considered representative of estimated fair value. If prices received from independent pricing services are not considered reflective of market activity or representative of estimated fair value, independent non-binding broker quotations are obtained. If obtaining an independent non-binding broker quotation is unsuccessful, the last available price will be used. Additional controls are performed, such as, balance sheet analytics to assess reasonableness of period-to-period pricing changes, including any price adjustments. Price adjustments are applied if prices or quotes received from independent pricing services or brokers are not considered reflective of market activity or representative of estimated fair value. The Company did not have significant price adjustments during the year ended December 31, 2024. Determination of Fair Value Fixed Maturity Securities The fair values for actively traded marketable bonds, primarily U.S. government and agency securities, are determined using the quoted market prices and are classified as Level 1 assets. For fixed maturity securities classified as Level 2 assets, fair values are determined using either a market or income approach and are valued based on a variety of observable inputs as described below. U.S. corporate and foreign corporate securities: Fair value is determined using third-party commercial pricing services, with the primary inputs being quoted prices in markets that are not active, benchmark yields, spreads off benchmark yields, new issuances, issuer rating, trades of identical or comparable securities, or duration. Privately-placed securities are valued using the additional key inputs: market yield curve, call provisions, observable prices and spreads for similar public or private securities that incorporate the credit quality and industry sector of the issuer, and delta spread adjustments to reflect specific credit-related issues. U.S. government and agency, state and political subdivision and foreign government securities: Fair value is determined using third-party commercial pricing services, with the primary inputs being quoted prices in markets that are not active, benchmark U.S. Treasury yield or other yields, spread off the U.S. Treasury yield curve for the identical security, issuer ratings and issuer spreads, broker-dealer quotes, and comparable securities that are actively traded. Structured Securities: Fair value is determined using third-party commercial pricing services, with the primary inputs being quoted prices in markets that are not active, spreads for actively traded securities, spreads off benchmark yields, expected prepayment speeds and volumes, current and forecasted loss severity, ratings, geographic region, weighted average coupon and weighted average maturity, average delinquency rates and debt-service coverage ratios. Other issuance-specific information is also used, including, but not limited to, collateral type, structure of the security, vintage of the loans, payment terms of the underlying asset, payment priority within tranche, and deal performance. Equity Securities and Short-term Investments The fair value for actively traded equity securities and short-term investments are determined using quoted market prices and are classified as Level 1 assets. For financial instruments classified as Level 2 assets, fair values are determined using a market approach and are valued based on a variety of observable inputs as described below. Equity securities and short-term investments: Fair value is determined using third-party commercial pricing services, with the primary input being quoted prices in markets that are not active. Derivatives The fair values for exchange-traded derivatives are determined using the quoted market prices and are classified as Level 1 assets. For OTC-bilateral derivatives and OTC-cleared derivatives classified as Level 2 assets or liabilities, fair values are determined using the income approach. Valuations of non-option-based derivatives utilize present value techniques, whereas valuations of option-based derivatives utilize option pricing models which are based on market standard valuation methodologies and a variety of observable inputs. The significant inputs to the pricing models for most OTC-bilateral and OTC-cleared derivatives are inputs that are observable in the market or can be derived principally from, or corroborated by, observable market data. Certain OTC-bilateral and OTC-cleared derivatives may rely on inputs that are significant to the estimated fair value that are not observable in the market or cannot be derived principally from, or corroborated by, observable market data. These unobservable inputs may involve significant management judgment or estimation. Even though unobservable, these inputs are based on assumptions deemed appropriate given the circumstances and management believes they are consistent with what other market participants would use when pricing such instruments. Most inputs for OTC-bilateral and OTC-cleared derivatives are mid-market inputs but, in certain cases, liquidity adjustments are made when they are deemed more representative of exit value. Market liquidity, as well as the use of different methodologies, assumptions and inputs, may have a material effect on the estimated fair values of the Company’s derivatives and could materially affect net income. The credit risk of both the counterparty and the Company are considered in determining the estimated fair value for all OTC-bilateral and OTC-cleared derivatives, and any potential credit adjustment is based on the net exposure by counterparty after taking into account the effects of netting agreements and collateral arrangements. The Company values its OTC-bilateral and OTC-cleared derivatives using standard swap curves which may include a spread to the risk-free rate, depending upon specific collateral arrangements. This credit spread is appropriate for those parties that execute trades at pricing levels consistent with similar collateral arrangements. As the Company and its significant derivative counterparties generally execute trades at such pricing levels and hold sufficient collateral, additional credit risk adjustments are not currently required in the valuation process. The Company’s ability to consistently execute at such pricing levels is in part due to the netting agreements and collateral arrangements that are in place with all of its significant derivative counterparties. An evaluation of the requirement to make additional credit risk adjustments is performed by the Company each reporting period. Market Risk Benefits MRBs principally include guaranteed minimum benefits on variable annuity contracts including benefits reinsured related to these guarantees. The estimated fair value of variable annuity guarantees accounted for as MRBs is determined based on the present value of projected future benefits less the present value of projected future fees attributable to the guarantees. At policy inception, the Company determines an attributed fee ratio by solving for a percentage of projected future rider fees to be collected from the policyholder equal to the present value of projected future guaranteed benefits. To the extent the rider fees are insufficient, the Company may also include fees related to mortality and expense charges in the attributed fee ratio, provided the total fees included in the calculation do not exceed total contract fees and assessments collected from the contract holder. Any additional fees not included in the attributed fee ratio are considered revenue and reported in universal life and investment-type product policy fees. The attributed fee ratio is not updated in subsequent periods. The Company updates the estimated fair value of variable annuity guarantees in subsequent periods by projecting future benefits using capital markets inputs and actuarial assumptions including expectations of policyholder behavior. A risk neutral valuation methodology is used to project the cash flows from the guarantees under multiple capital markets scenarios. The reported estimated fair value is then determined by taking the present value of these cash flows using a discount rate that incorporates a spread over the risk-free rate to reflect the Company’s nonperformance risk and adding a risk margin. The valuation of MRBs includes an adjustment for the risk that the Company fails to satisfy its obligations, which is referred to as nonperformance risk. The nonperformance risk adjustment is captured as an additional spread applied to the risk-free rate in determining the rate to discount the cash flows of the liability. The spread over the risk-free rate is based on the Company’s creditworthiness taking into consideration publicly available information relating to spreads in the secondary market for Brighthouse Financial’s debt. These observable spreads are then adjusted, as necessary, to reflect the financial strength ratings of the issuing insurance subsidiaries as compared to the credit rating of Brighthouse Financial. Risk margins are established to capture the non-capital markets risks of the instrument which represent the additional compensation a market participant would require to assume the risks related to the uncertainties in certain actuarial assumptions. The establishment of risk margins requires the use of significant actuarial judgment, including assumptions of the amount needed to cover the guarantees. Actuarial assumptions are reviewed at least annually, and if they change significantly, the estimated fair value is adjusted through net income. Capital market inputs used in the measurement of variable annuity guarantees are updated quarterly through net income, except for the change attributable to the Company’s nonperformance risk, which is reported in OCI. Embedded Derivatives Embedded derivatives include crediting rates associated with index-linked annuity contracts. Embedded derivatives are recorded at estimated fair value with changes in estimated fair value reported in net income. The crediting rates associated with these features are embedded derivatives which are measured at estimated fair value separately from the host fixed annuity contract. These embedded derivatives are classified within policyholder account balances on the consolidated balance sheets. The estimated fair value of crediting rates associated with index-linked annuities is determined using a combination of an option pricing model and an option-budget approach. The valuation of these embedded derivatives also includes the establishment of a risk margin, as well as changes in nonperformance risk. Actuarial assumptions including policyholder behavior and expectations for renewals at the end of the term period are reviewed at least annually, and if they change significantly, the estimated fair value is adjusted through net income. Capital market inputs used in the measurement of crediting rate embedded derivatives are updated quarterly through net income. Transfers Into or Out of Level 3: Assets and liabilities are transferred into Level 3 when a significant input cannot be corroborated with market observable data. This occurs when market activity decreases significantly and underlying inputs cannot be observed, current prices are not available, and/or when there are significant variances in quoted prices, thereby affecting transparency. Assets and liabilities are transferred out of Level 3 when circumstances change such that a significant input can be corroborated with market observable data. This may be due to a significant increase in market activity, a specific event, or one or more significant input(s) becoming observable. Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) Certain quantitative information about the significant unobservable inputs used in the fair value measurement, and the sensitivity of the estimated fair value to changes in those inputs, for the more significant asset and liability classes measured at fair value on a recurring basis using significant unobservable inputs (Level 3) were as follows at: December 31, 2024 December 31, 2023 Impact of Valuation Techniques Significant Range Range Market Risk Benefits Variable annuity guaranteed minimum benefits • Discounted cash flows • Mortality rates 0.04% - 12.90% 0.04% - 12.90% Decrease (1) • Lapse rates 1.00% - 20.20% 1.00% - 22.80% Decrease (2) • Utilization rates 0.00% - 25.00% 0.00% - 25.00% Increase (3) • Withdrawal rates 0.00% - 10.00% 0.00% - 10.00% (4) • Long-term equity volatilities 12.22% - 37.04% 12.59% - 22.50% Increase (5) • Nonperformance risk spread 0.20% - 1.19% 0.76% - 1.63% Decrease (6) Embedded Derivatives Registered index-linked annuity crediting rates • Option pricing techniques • Mortality rates 0.03% - 7.86% 0.03% - 9.24% Decrease (1) • Lapse rates 1.00% - 62.30% 1.00% - 62.30% Decrease (2) • Withdrawal rates 0.50% - 13.00% 0.50% - 9.00% (4) • Nonperformance risk spread 0.30% - 1.63% 0.45% - 1.74% Decrease (6) _______________ (1) Mortality rates vary by age and by demographic characteristics such as gender. The range shown reflects the mortality rate for policyholders between 35 and 90 years old. Mortality rate assumptions are set based on company experience and include an assumption for mortality improvement. (2) The lapse rate range reflects base lapse rates for major product categories for duration 1-20. Base lapse rates are adjusted at the contract level based on a comparison of the actuarially calculated guaranteed values and the current policyholder account value, as well as other factors, such as the applicability of any surrender charges. For variable annuity guarantees, a dynamic lapse function reduces the base lapse rate when the guaranteed amount is greater than the account value as in-the-money contracts are less likely to lapse. Lapse rates are also generally assumed to be lower in periods when a surrender charge applies. (3) The utilization rate assumption for variable annuity guarantees estimates the percentage of contract holders with a GMIB or lifetime withdrawal benefit who will elect to utilize the benefit upon becoming eligible in a given year. The range shown represents the floor and cap of the GMIB dynamic election rates across varying levels of in-the-money. For lifetime withdrawal guarantee riders, the assumption is that everyone will begin withdrawals once account value reaches zero which is equivalent to a 100% utilization rate. Utilization rates may vary by the type of guarantee, the amount by which the guaranteed amount is greater than the account value, the contract’s withdrawal history and by the age of the policyholder. (4) The withdrawal rate represents the percentage of account balance that any given policyholder will elect to withdraw from the contract each year. The withdrawal rate assumption varies by age and duration of the contract, and also by other factors such as benefit type. For any given contract, withdrawal rates vary throughout the period over which cash flows are projected for purposes of valuing the embedded derivative. For variable annuity GMWBs, any increase (decrease) in withdrawal rates results in an increase (decrease) in the estimated fair value of the guarantees. For variable annuity GMABs and GMIBs, any increase (decrease) in withdrawal rates results in a decrease (increase) in the estimated fair value. (5) Long-term equity volatilities represent equity volatility beyond the period for which observable equity volatilities are available. For any given contract, long-term equity volatility rates vary throughout the period over which cash flows are projected for purposes of valuing MRBs. (6) Nonperformance risk spread varies by duration. For any given contract, multiple nonperformance risk spreads will apply, depending on the duration of the cash flow being discounted for purposes of valuing the MRB or embedded derivative. The Company does not develop unobservable inputs used in measuring fair value for all other assets and liabilities classified within Level 3; therefore, these are not included in the table above. The other Level 3 assets and liabilities primarily included fixed maturity securities and derivatives. For fixed maturity securities valued based on non-binding broker quotes, an increase (decrease) in credit spreads would result in a (lower) higher fair value. For derivatives valued based on third-party pricing models, an increase (decrease) in credit spreads would generally result in a (lower) higher fair value. The changes in assets and (liabilities) measured at estimated fair value on a recurring basis using significant unobservable inputs (excluding MRBs disclosed in Note 4) were summarized as follows: Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Fixed Maturity Securities Corporate (1) Structured Securities Foreign Government Equity Short-term Investments Net Derivatives (2) Embedded Derivatives on Index-Linked Annuities (In millions) Balance, January 1, 2023 $ 1,787 $ 365 $ 38 $ 27 $ — $ 35 $ (3,932) Total realized/unrealized gains (losses) included in net income (loss) (3) (4) (11) — — (3) — (6) (4,097) Total realized/unrealized gains (losses) included in AOCI 28 5 3 — — (3) — Purchases (5) 162 85 — 2 — 4 — Sales (5) (116) (22) (2) (1) — — — Issuances (5) — — — — — — — Settlements (5) — — — — — — (157) Transfers into Level 3 (6) 188 3 — — — — — Transfers out of Level 3 (6) (718) (56) (3) — — (12) — Balance, December 31, 2023 1,320 380 36 25 — 18 (8,186) Total realized/unrealized gains (losses) included in net income (loss) (3) (4) (67) 1 — (10) — 1 (3,951) Total realized/unrealized gains (losses) included in AOCI 2 3 — — — — — Purchases (5) 323 137 — — 2 — — Sales (5) (239) (87) — — — — — Issuances (5) — — — — — — — Settlements (5) — — — — — (4) 644 Transfers into Level 3 (6) 53 — — — — — — Transfers out of Level 3 (6) (300) (69) (15) — — (6) — Balance, December 31, 2024 $ 1,092 $ 365 $ 21 $ 15 $ 2 $ 9 $ (11,493) Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at December 31, 2022 (7) $ 3 $ — $ — $ 1 $ — $ (1) $ 2,485 Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at December 31, 2023 (7) $ (11) $ — $ — $ (2) $ — $ (5) $ (4,513) Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at December 31, 2024 (7) $ (59) $ — $ — $ — $ — $ 1 $ (4,687) Changes in unrealized gains (losses) included in OCI for the instruments still held as of December 31, 2022 (7) $ (268) $ (23) $ (10) $ — $ — $ 17 $ — Changes in unrealized gains (losses) included in OCI for the instruments still held as of December 31, 2023 (7) $ 11 $ 4 $ 3 $ — $ — $ (3) $ — Changes in unrealized gains (losses) included in OCI for the instruments still held as of December 31, 2024 (7) $ (33) $ — $ — $ — $ — $ — $ — Gains (Losses) Data for the year ended December 31, 2022: Total realized/unrealized gains (losses) included in net income (loss) (3) (4) $ (5) $ 1 $ — $ — $ — $ (9) $ 2,743 Total realized/unrealized gains (losses) included in AOCI $ (266) $ (23) $ (10) $ — $ — $ 17 $ — _______________ (1) Comprised of U.S. and foreign corporate securities. (2) Freestanding derivative assets and liabilities are reported net for purposes of the rollforward. (3) Amortization of premium/accretion of discount is included in net investment income. Changes in the allowance for credit losses and direct write-offs are charged to net income (loss) on securities are included in net investment gains (losses). Lapses associated with net embedded derivatives are included in net derivative gains (losses). Substantially all realized/unrealized gains (losses) included in net income (loss) for net derivatives and net embedded derivatives are reported in net derivative gains (losses). (4) Interest and dividend accruals, as well as cash interest coupons and dividends received, are excluded from the rollforward. (5) Items purchased/issued and then sold/settled in the same period are excluded from the rollforward. Fees attributed to embedded derivatives are included in settlements. (6) Gains and losses, in net income (loss) and OCI, are calculated assuming transfers into and/or out of Level 3 occurred at the beginning of the period. Items transferred into and out of Level 3 in the same period are excluded from the rollforward. (7) Changes in unrealized gains (losses) included in net income (loss) for fixed maturities are reported in either net investment income or net investment gains (losses). Substantially all changes in unrealized gains (losses) included in net income (loss) for net derivatives and net embedded derivatives are reported in net derivative gains (losses). Fair Value of Financial Instruments Carried at Other Than Fair Value The following tables provide fair value information for financial instruments that are carried on the balance sheet at amounts other than fair value. These tables exclude the following financial instruments: cash and cash equivalents, accrued investment income and payables for collateral under securities loaned and other transactions. The estimated fair value of the excluded financial instruments, which are primarily classified in Level 2, approximates carrying value as they are short-term in nature such that the Company believes there is minimal risk of material changes in interest rates or credit quality. All remaining balance sheet amounts excluded from the tables below are not considered financial instruments subject to this disclosure. The carrying values and estimated fair values for such financial instruments, and their corresponding placement in the fair value hierarchy, are summarized as follows at: December 31, 2024 Fair Value Hierarchy Carrying Level 1 Level 2 Level 3 Total (In millions) Assets Mortgage loans $ 23,286 $ — $ — $ 21,373 $ 21,373 Policy loans $ 2,024 $ — $ 1,161 $ 943 $ 2,104 Other invested assets $ 233 $ — $ 222 $ 11 $ 233 Premiums, reinsurance and other receivables $ 8,527 $ — $ 55 $ 9,222 $ 9,277 Liabilities Policyholder account balances $ 31,928 $ — $ — $ 31,563 $ 31,563 Long-term debt $ 3,155 $ — $ 2,787 $ — $ 2,787 Other liabilities $ 1,338 $ — $ 691 $ 647 $ 1,338 Separate account liabilities $ 1,246 $ — $ 1,246 $ — $ 1,246 December 31, 2023 Fair Value Hierarchy Carrying Level 1 Level 2 Level 3 Total (In millions) Assets Mortgage loans $ 22,508 $ — $ — $ 20,609 $ 20,609 Policy loans $ 1,331 $ — $ 518 $ 937 $ 1,455 Other invested assets $ 257 $ — $ 245 $ 12 $ 257 Premiums, reinsurance and other receivables $ 7,577 $ — $ 88 $ 7,636 $ 7,724 Liabilities Policyholder account balances $ 31,471 $ — $ — $ 30,606 $ 30,606 Long-term debt $ 3,156 $ — $ 2,769 $ — $ 2,769 Other liabilities $ 1,142 $ — $ 463 $ 679 $ 1,142 Separate account liabilities $ 1,150 $ — $ 1,150 $ — $ 1,150

Long-term Debt

Long-term Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Long-term Debt	11. Long-term Debt Long-term debt outstanding was as follows at: December 31, 2024 2023 Stated Interest Rate Maturity Face Value Carrying Value Face Value Carrying Value (In millions) Senior notes (1) 3.700% 2027 $ 757 $ 756 $ 757 $ 756 Senior notes (1) 5.625% 2030 615 615 615 614 Senior notes (1) 4.700% 2047 1,014 1,002 1,014 1,001 Senior notes (1) 3.850% 2051 400 397 400 397 Junior subordinated debentures (1) 6.250% 2058 375 364 375 364 Other long-term debt (2) 7.028% 2030 21 21 24 24 Total long-term debt (3) $ 3,182 $ 3,155 $ 3,185 $ 3,156 _______________ (1) Interest on senior notes is payable semi-annually. Interest on junior subordinated debentures is payable quarterly subject to BHF’s right to defer interest payments in accordance with the terms of the debentures. (2) Represents non-recourse debt for which creditors have no access, subject to customary exceptions, to the general assets of the Company other than recourse to certain investment companies. (3) Includes unamortized debt issuance costs, discounts and premiums, as applicable, totaling net $27 million and $30 million for the senior notes and junior subordinated debentures on a combined basis at December 31, 2024 and 2023, respectively. The aggregate maturities of long-term debt at December 31, 2024 were $3 million in 2025 and 2026, $761 million in 2027, $3 million in 2028, $4 million in 2029, and $2.4 billion thereafter. Unsecured senior notes rank highest in priority, followed by subordinated debt consisting of junior subordinated debentures. Interest expense related to long-term debt of $152 million, $153 million and $153 million for the years ended December 31, 2024, 2023 and 2022, respectively, is included in other expenses. The Company’s debt instruments and credit and committed facilities contain certain administrative, reporting and legal covenants. Additionally, the Revolving Credit Facility (as defined below) contain financial covenants, including requirements to maintain a specified minimum adjusted consolidated net worth, to maintain a ratio of total indebtedness to total capitalization not in excess of a specified percentage and that place limitations on the dollar amount of indebtedness that may be incurred by the Company’ subsidiaries. At December 31, 2024, the Company was in compliance with these financial covenants. Credit Facilities Revolving Credit Facility On April 15, 2022, BHF entered into a new revolving credit agreement with respect to a new $1.0 billion senior unsecured revolving credit facility maturing April 15, 2027 (the “2022 Revolving Credit Facility”), all of which may be used for revolving loans or letters of credit. The 2022 Revolving Credit Facility refinanced and replaced BHF’s former $1.0 billion senior unsecured revolving credit facility that was scheduled to mature May 7, 2024. At December 31, 2024, there were no borrowings or letters of credit outstanding under the 2022 Revolving Credit Facility. Committed Facilities Reinsurance Financing Arrangement Brighthouse Reinsurance Company of Delaware (“BRCD”) maintains a $15.0 billion financing arrangement with a pool of highly rated third-party reinsurers consisting of credit-linked notes that each mature in 2039. At December 31, 2024, there were no borrowings and there was $15.0 billion of funding available under this financing arrangement. For the years ended December 31, 2024, 2023 and 2022, the Company recognized commitment fees of $21 million, $21 million and $26 million, respectively, in other expenses associated with this financing arrangement. Repurchase Facilities At December 31, 2024, Brighthouse Life Insurance Company maintains secured committed repurchase facilities (the “Repurchase Facilities”) with terms of up to three years under which Brighthouse Life Insurance Company may enter into repurchase transactions in an aggregate amount up to $2.5 billion. Under the Repurchase Facilities, Brighthouse Life Insurance Company may sell certain eligible securities at a purchase price based on the market value of the securities less an applicable margin based on the types of securities sold, with a concurrent agreement to repurchase such securities at a predetermined future date (up to three months) and at a price which represents the original purchase price plus interest. At December 31, 2024, there were no borrowings under the Repurchase Facilities.

Equity

Equity	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Equity	12. Equity Preferred Stock Preferred stock shares authorized, issued and outstanding were as follows at: December 31, 2024 2023 Shares Authorized Shares Issued Shares Outstanding Shares Authorized Shares Issued Shares Outstanding 6.600% Non-Cumulative Preferred Stock, Series A 17,000 17,000 17,000 17,000 17,000 17,000 6.750% Non-Cumulative Preferred Stock, Series B 16,100 16,100 16,100 16,100 16,100 16,100 5.375% Non-Cumulative Preferred Stock, Series C 23,000 23,000 23,000 23,000 23,000 23,000 4.625% Non-Cumulative Preferred Stock, Series D 14,000 14,000 14,000 14,000 14,000 14,000 Not designated 99,929,900 — — 99,929,900 — — Total 100,000,000 70,100 70,100 100,000,000 70,100 70,100 In November 2021, BHF issued depositary shares (the “Series D Depositary Shares”), each representing a 1/1,000th ownership interest in a share of BHF’s perpetual 4.625% Series D non-cumulative preferred stock (the “Series D Preferred Stock”) and in the aggregate representing 14,000 shares of Series D Preferred Stock, with a stated amount of $25,000 per share, for aggregate net cash proceeds of $339 million. Dividends, if declared, will be payable commencing on March 25, 2022 and will accrue and be payable quarterly, in arrears, at an annual rate of 4.625% on the stated amount per share. In connection with the issuance of the Series D Depositary Shares and the underlying Series D Preferred Stock, BHF incurred $11 million of issuance costs, which have been recorded as a reduction of additional paid-in capital. In November 2020, BHF issued depositary shares (the “Series C Depositary Shares”), each representing a 1/1,000th ownership interest in a share of BHF’s perpetual 5.375% Series C non-cumulative preferred stock (the “Series C Preferred Stock”) and in the aggregate representing 23,000 shares of Series C Preferred Stock, with a stated amount of $25,000 per share, for aggregate net cash proceeds of $558 million. Dividends, if declared, will accrue and be payable quarterly, in arrears, at an annual rate of 5.375% on the stated amount per share. In connection with the issuance of the Series C Depositary Shares and the underlying Series C Preferred Stock, BHF incurred $17 million of issuance costs, which have been recorded as a reduction of additional paid-in capital. In May 2020, BHF issued depositary shares (the “Series B Depositary Shares”), each representing a 1/1,000th ownership interest in a share of its perpetual 6.750% non-cumulative preferred stock, Series B (the “Series B Preferred Stock”) and in the aggregate representing 16,100 shares of Series B Preferred Stock, with a stated amount of $25,000 per share, for aggregate net cash proceeds of $390 million. Dividends, if declared, will accrue and be payable quarterly, in arrears, at an annual rate of 6.750% on the stated amount per share. In connection with the issuance of the Series B Depositary Shares and the underlying Series B Preferred Stock, BHF incurred $13 million of issuance costs, which have been recorded as a reduction of additional paid-in capital. In March 2019, BHF issued depositary shares, each representing a 1/1,000th ownership interest in a share of BHF’s perpetual 6.600% Series A non-cumulative preferred stock (the “Series A Preferred Stock”) and in the aggregate representing 17,000 shares of Series A Preferred Stock, with a stated amount of $25,000 per share, for aggregate net cash proceeds of $412 million. Dividends, if declared, will accrue and be payable quarterly, in arrears, at an annual rate of 6.600% on the stated amount per share. In connection with the issuance of the depositary shares and the underlying Series A Preferred Stock, BHF incurred $13 million of issuance costs, which have been recorded as a reduction of additional paid-in capital. The Series A Preferred Stock, the Series B Preferred Stock, Series C Preferred Stock and the Series D Preferred Stock (together, the “Preferred Stock”) rank equally with each other. The Preferred Stock ranks senior to common stock with respect to the payment of dividends and distributions of assets upon liquidation, dissolution or winding-up of the Company. Holders of the Preferred Stock are not entitled to any other amounts from the Company after they have received their full liquidation preference and do not have voting rights except in certain limited circumstances, including where dividends have not been paid in full for at least six dividend payment periods, whether or not such periods are consecutive. In such circumstances, the holders of the Preferred Stock, and, in turn, the underlying depositary shares, will have certain voting rights with respect to the election of additional directors to the BHF Board of Directors, as provided in the Certificate of Designations for each series of Preferred Stock. Each series of Preferred Stock has a stated amount of $25,000 per share, is perpetual and has no maturity date. Dividends are payable, if declared, quarterly in arrears on the 25th day of March, June, September and December of each year at a specified annual rate on the stated amount per share applicable to each particular series. Dividends are recorded when declared. No dividends may be paid or declared on BHF’s common stock and BHF may not purchase, redeem, or otherwise acquire its common stock unless the full dividends for the latest completed dividend period on all outstanding Preferred Stock have been declared and either paid or a sum sufficient for the payment thereof has been set aside. The Preferred Stock is not convertible into, or exchangeable for, shares of any other class or series of stock or other securities of the Company or its subsidiaries and is not subject to any mandatory redemption, sinking fund, retirement fund, purchase fund or similar provisions. Each series of the Preferred Stock is redeemable at the Company’s option in whole or in part on or after a specified optional redemption date applicable to that series (March 25, 2024 for the Series A Preferred Stock, June 25, 2025 for the Series B Preferred Stock, December 25, 2025 for the Series C Preferred Stock and December 25, 2026 for the Series D Preferred Stock) at a redemption price equal to $25,000 per share, plus any accrued but unpaid dividends. Prior to the optional redemption date applicable to each series of Preferred Stock, the Preferred Stock is redeemable at the Company’s option in whole but not in part within 90 days of the occurrence of (i) a specified rating agency event or (ii) a specified regulatory capital event, in each case at a specified redemption price. The per share and aggregate dividends declared for BHF’s preferred stock by series were as follows: Years Ended December 31, 2024 2023 2022 Series Per Share Aggregate Per Share Aggregate Per Share Aggregate (In millions, except per share data) A $1,650.00 $ 28 $1,650.00 $ 28 $1,650.00 $ 28 B $1,687.52 28 $1,687.52 28 $1,687.52 28 C $1,343.76 30 $1,343.76 30 $1,343.76 31 D $1,156.24 16 $1,156.24 16 $1,262.23 17 Total $ 102 $ 102 $ 104 See Note 18 for information relating to preferred dividends declared subsequent to December 31, 2024 . Common Stock Changes in common shares outstanding were as follows: Years Ended December 31, 2024 2023 2022 Shares outstanding at beginning of year 63,503,355 68,278,068 77,870,072 Shares issued 661,758 665,146 639,980 Shares repurchased (1) (5,536,064) (5,439,859) (10,231,984) Shares outstanding at end of year 58,629,049 63,503,355 68,278,068 _______________ (1) Includes shares of common stock withheld with respect to tax withholding obligations associated with the vesting of share-based compensation awards under the Company’s publicly announced benefit plans or programs. On November 16, 2023, BHF authorized the repurchase of up to $750 million of its common stock, which is in addition to the $1.2 billion total repurchases authorized in 2021. Repurchases under the November 16, 2023 authorization may be made through open market purchases, including pursuant to a Rule 10b5-1 plan or pursuant to accelerated stock repurchase plans, or through privately negotiated transactions, from time to time at management’s discretion in accordance with applicable legal requirements. During the years ended December 31, 2024, 2023 and 2022, BHF repurchased 5,294,200 shares, 5,195,832 shares and 10,000,026 shares, respectively, of its common stock through open market purchases pursuant to Rule 10b5-1 plans for $250 million, $250 million and $488 million, respectively. At December 31, 2024, BHF had $543 million remaining under its common stock repurchase program. Share-Based Compensation Plans The Company’s share-based compensation plans provide awards to employees and non-employee directors and may be in the form of non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units (“RSU”), performance shares, performance share units (“PSU”), or other share-based awards. Additionally, employees may purchase shares at a discount under an employee stock purchase plan (the “ESPP”). The aggregate number of authorized shares available for issuance at December 31, 2024 under the Company’s various share-based compensation plans was 4,878,028. The Company issues new shares to satisfy vested RSUs and PSUs, as well as stock option exercises. Unless otherwise noted, all share-based compensation is measured at fair value as of the grant date. The Company recognizes compensation expense related to share-based awards based on the number of awards expected to vest, which for some award types represent the awards granted less expected forfeitures over the life of the award, as estimated at the date of grant and actual forfeitures for other award types. Unless a material deviation from the assumed forfeiture rate is observed during the term in which the awards are expensed, the Company recognizes any adjustment necessary to reflect differences in actual experience in the period the award becomes payable or exercisable. Compensation expense related to share-based awards, which is included in other expenses, is principally related to the issuance of restricted stock units and performance share units with other costs incurred relating to stock options. The Company grants the majority of each year’s awards in the first quarter of the year. Compensation Expense Related to Share-Based Compensation The following table presents total share-based compensation expense: Years Ended December 31, 2024 2023 2022 (In millions) RSUs $ 14 $ 13 $ 13 PSUs 8 15 8 Employee stock purchase plan 1 1 1 Total share-based compensation expense $ 23 $ 29 $ 22 Income tax benefit $ 5 $ 6 $ 5 At December 31, 2024, unrecognized share-based compensation and the weighted average remaining recognition period was $11 million and 0.8 years, respectively, for RSUs and $25 million and 1.2 years, respectively, for PSUs. Equity Awards Restricted Stock Units RSUs are units that, if vested, are payable in shares of BHF common stock. The Company does not credit RSUs with dividend-equivalents as RSUs do not accrue dividends. Accordingly, the estimated fair value of RSUs is based upon the closing price of shares on the date of grant. Most RSUs use graded vesting and vest in thirds on, or shortly after, the first three anniversaries of their grant date, while other RSUs vest in their entirety on the specified anniversary of their grant date. Vesting is subject to continued service, except for employees who meet specified age and service criteria, and in certain other limited circumstances. Performance Share Units PSUs are units that, if vested, are multiplied by a performance factor to produce a final number of BHF common stock shares. PSUs cliff vest at the end of a three-year performance period. Vesting is subject to continued service, except for employees who meet specified age and service criteria, and in certain other limited circumstances. For awards granted during fiscal years 2022 and 2023, the performance factors are based on the achievement of net cash flow to BHF, Brighthouse Services, LLC and Brighthouse Holdings, LLC (“BH Holdings”) and statutory expense ratio targets over the respective performance period depending on the year of issue. The vested PSUs will be multiplied by a performance factor up to a maximum payout of 150%. Assuming the Company has met certain threshold performance targets, the Compensation and Human Capital Committee of BHF’s Board of Directors will determine the final performance factor at its discretion. For awards granted during fiscal year 2024, the performance factors are based on the achievement of net cash flow to BHF, Brighthouse Services, LLC and BH Holdings over the performance period and statutory expense ratio targets over the performance period, subject to a potential 10% modifier based on BHF’s relative total shareholder return (“rTSR”) over the same three-year period compared to a peer group of companies. For these awards, the Company measures fair value using a Monte Carlo simulation that considers the Company’s projected rTSR relative to a defined group of peers as well as other inputs to estimate the grant date fair value of awards. The vested PSUs will be multiplied by a performance factor, as well as subject to an rTSR modifier, resulting in a maximum possible payout of 160%. Assuming the Company has met certain threshold performance targets, the Compensation and Human Capital Committee of BHF’s Board of Directors will determine the final performance factor at its discretion. The following table presents a summary of PSU and RSU activity: RSUs PSUs Units Weighted Average Grant Date Fair Value Units Weighted Average Grant Date Fair Value Nonvested at January 1, 2024 516,968 $ 50.57 820,177 $ 48.40 Granted 332,770 $ 46.27 301,776 $ 46.16 Performance factor adjustment — $ — 20,984 $ 41.26 Forfeited (8,528) $ 50.27 (14,459) $ 50.50 Vested (272,802) $ 48.12 (321,260) $ 41.26 Nonvested at December 31, 2024 568,408 $ 49.24 807,218 $ 50.18 The weighted average grant date fair value of RSUs granted during the years ended December 31, 2023 and 2022, was $56.35 and $47.72, respectively. The weighted average grant date fair value of PSUs granted during the years ended December 31, 2023 and 2022, was $58.35 and $48.06, respectively. The total fair value of RSUs that vested during each of the years ended December 31, 2024, 2023 and 2022 was $13 million, $15 million and $15 million, respectively. The total fair value of PSUs that vested during the years ended December 31, 2024, 2023 and 2022, was $13 million, $9 million and $7 million, respectively. Stock Options Stock options represent the contingent right of award holders to purchase shares of BHF common stock at a stated price for a limited time. All stock options have an exercise price equal to the closing price of a share on the date of grant and have a maximum term of ten years. Stock options granted are exercisable at a rate of one-third of each award on each of the first three anniversaries of the grant date. Vesting is subject to continued service, except for employees who meet specified age and service criteria, and in certain other limited circumstances. The Company estimates the fair value of stock options on the date of grant using the Black-Scholes model. The significant assumptions the Company uses in its model include: expected volatility of the price of shares; risk-free rate of return; graded three-year vesting; and expected option life. At December 31, 2024, there were 187,371 stock options outstanding and exercisable with a weighted average exercise price of $53.47 and aggregate intrinsic value of $0, which expire on February 29, 2028. During the year ended December 31, 2024, there were no stock options granted, exercised, forfeited or expired. During the years ended December 31, 2023 and 2022, no stock options were granted or exercised. Employee Stock Purchase Plan Shares Under the ESPP, eligible employees of the Company purchase common stock at a discount rate of 15% of the market price per share on the lesser of the first or last trading day of the offering period. Employees purchase a variable number of shares of stock through payroll deductions elected just prior to the beginning of the offering period. During the years ended December 31, 2024, 2023 and 2022, employees purchased 76,572 shares, 77,598 shares and 74,734 shares, respectively. The weighted average per share fair value of the discount under the ESPP was $8.54, $9.04 and $8.54 during the years ended December 31, 2024, 2023 and 2022, respectively, which was recorded in other expenses. Statutory Financial Information The states of domicile of the Company’s insurance subsidiaries impose RBC requirements that were developed by the National Association of Insurance Commissioners (“NAIC”). Such requirements are used by regulators to assess the minimum amount of statutory capital and surplus needed for an insurance company to support its operations, based on its size and risk profile (referred to as “company action level RBC”). RBC is based on statutory financial statements and is calculated in a manner prescribed by the NAIC. The RBC ratio, which is the basis for determining regulatory compliance, is equal to total adjusted capital divided by the applicable company action level RBC. Companies below 100% of the company action level RBC are subject to corrective action. As of December 31, 2024, the annual RBC ratios for the Company’s insurance subsidiaries were each in excess of 390%. The Company’s insurance subsidiaries prepare statutory-basis financial statements in accordance with statutory accounting practices prescribed or permitted by the insurance department of the state of domicile. Statutory accounting principles differ from GAAP primarily by charging policy acquisition costs to expense as incurred, establishing future policy benefit liabilities using different actuarial assumptions, reporting of reinsurance agreements and valuing investments and deferred tax assets on a different basis. The tables below present amounts from certain of the Company’s insurance subsidiaries, which are derived from the statutory-basis financial statements to be filed with the insurance regulators. Statutory net income (loss) was as follows: Years Ended December 31, Company State of Domicile 2024 2023 2022 (In millions) Brighthouse Life Insurance Company Delaware $ (787) $ (3,131) $ 1,373 New England Life Insurance Company Massachusetts $ 65 $ 41 $ 83 Statutory capital and surplus was as follows at: December 31, Company 2024 2023 (In millions) Brighthouse Life Insurance Company $ 3,673 $ 4,623 New England Life Insurance Company $ 206 $ 141 The Company has a reinsurance subsidiary, BRCD, which reinsures risks including level premium term life and ULSG assumed from other Brighthouse Financial life insurance subsidiaries. BRCD, with the explicit permission of the Delaware Insurance Commissioner (“Delaware Commissioner”), has included the value of credit-linked notes as admitted assets, which resulted in higher statutory capital and surplus of $11.5 billion and $11.0 billion for the years ended December 31, 2024 and 2023, respectively. The statutory net income (loss) of BRCD was ($447) million, ($300) million and ($208) million for the years ended December 31, 2024, 2023 and 2022, respectively, and the combined statutory capital and surplus, including the aforementioned prescribed practices, were $703 million and $661 million at December 31, 2024 and 2023, respectively. Dividend Restrictions The table below sets forth the dividends permitted to be paid by certain of the Company’s insurance companies without insurance regulatory approval and dividends paid: 2025 2024 2023 2022 Company Permitted Without Approval (1) Paid (2) Paid (2) Paid (2) (In millions) Brighthouse Life Insurance Company (3) $ — $ — $ 266 $ — New England Life Insurance Company $ 67 $ — $ 84 $ 38 ______________ (1) Reflects dividend amounts that may be paid during 2025 without prior regulatory approval. (2) Reflects all amounts paid, including those requiring regulatory approval. (3) Any payment of dividends in 2025 would be considered an extraordinary dividend subject to regulatory approval due to negative unassigned funds (surplus). Under the Delaware Insurance Law, Brighthouse Life Insurance Company is permitted, without prior insurance regulatory clearance, to pay a stockholder dividend as long as the amount of the dividend when aggregated with all other dividends in the preceding 12 months does not exceed the greater of: (i) 10% of its surplus to policyholders as of the end of the immediately preceding calendar year; or (ii) its net gain from operations for the immediately preceding calendar year (excluding realized capital gains), not including pro rata distributions of Brighthouse Life Insurance Company’s own securities. Brighthouse Life Insurance Company will be permitted to pay a stockholder dividend in excess of the greater of such two amounts only if it files notice of the declaration of such a dividend and the amount thereof with the Delaware Commissioner and the Delaware Commissioner either approves the distribution of the dividend or does not disapprove the distribution within 30 days of its filing. In addition, any dividend that exceeds earned surplus (defined as “unassigned funds (surplus)”) as of the immediately preceding calendar year requires insurance regulatory approval. Under the Delaware Insurance Law, the Delaware Commissioner has broad discretion in determining whether the financial condition of a stock life insurance company would support the payment of such dividends to its stockholders. Under the Massachusetts State Insurance Law, NELICO is permitted, without prior insurance regulatory clearance, to pay a stockholder dividend as long as the aggregate amount of the dividend, when aggregated with all other dividends paid in the preceding 12 months, does not exceed the greater of: (i) 10% of its surplus to policyholders as of the end of the immediately preceding calendar year; or (ii) its net gain from operations for the immediately preceding calendar year, not including pro rata distributions of NELICO’s own securities. NELICO will be permitted to pay a dividend in excess of the greater of such two amounts only if it files notice of the declaration of such a dividend and the amount thereof with the Massachusetts Commissioner of Insurance (the “Massachusetts Commissioner”) and the Massachusetts Commissioner either approves the distribution of the dividend or does not disapprove the distribution within 30 days of its filing. In addition, any dividend that exceeds earned surplus (defined as “unassigned funds (surplus)”) as of the last filed annual statutory statement requires insurance regulatory approval. Under the Massachusetts State Insurance Law, the Massachusetts Commissioner has broad discretion in determining whether the financial condition of a stock life insurance company would support the payment of such dividends to its stockholders. Under New York insurance laws, Brighthouse Life Insurance Company of NY (“BHNY”) is permitted, without prior insurance regulatory clearance, to pay stockholder dividends to its parent in any calendar year based on one of two standards. Under one standard, BHNY is permitted, without prior insurance regulatory clearance, to pay dividends out of earned surplus (defined as positive “unassigned funds (surplus),” excluding 85% of the change in net unrealized capital gains or losses (less capital gains tax), for the immediately preceding calendar year), in an amount up to the greater of: (i) 10% of its surplus to policyholders as of the end of the immediately preceding calendar year or (ii) its statutory net gain from operations for the immediately preceding calendar year (excluding realized capital gains), not to exceed 30% of surplus to policyholders as of the end of the immediately preceding calendar year. In addition, under this standard, BHNY may not, without prior insurance regulatory clearance, pay any dividends in any calendar year immediately following a calendar year for which its net gain from operations, excluding realized capital gains, was negative. Under the second standard, if dividends are paid from a source other than earned surplus, BHNY may, without prior insurance regulatory clearance, pay an amount up to the lesser of: (i) 10% of its surplus to policyholders as of the end of the immediately preceding calendar year or (ii) its statutory net gain from operations for the immediately preceding calendar year (excluding realized capital gains). In addition, BHNY will be permitted to pay a dividend to its parent in excess of the amounts allowed under both standards only if it files notice of its intention to declare such a dividend and the amount thereof with the New York Superintendent of Financial Services (the “NY Superintendent”), and the NY Superintendent either approves the distribution of the dividend or does not disapprove the dividend within 30 days of its filing. To the extent BHNY pays a stockholder dividend, such dividend will be paid to Brighthouse Life Insurance Company, its direct parent and sole stockholder. Under BRCD’s plan of operations, no dividend or distribution may be made by BRCD without the prior approval of the Delaware Commissioner. BRCD did not pay any extraordinary dividends during the years ended December 31, 2024, 2023 and 2022. During each of the years ended December 31, 2024, 2023 and 2022, BRCD paid cash dividends of $1 million to its preferred shareholders. Accumulated Other Comprehensive Income (Loss) Information regarding changes in the balances of each component of AOCI was as follows: Unrealized Investment Gains (Losses), Net of Related Offsets (1) Unrealized Changes in Nonperformance Risk on Market Risk Benefits Changes in Discount Rates on the Liability for Future Policy Benefits Other (2) Total (In millions) Balance at December 31, 2021 $ 5,285 $ 239 $ (3,230) $ (2,199) $ (48) $ 47 OCI before reclassifications (14,741) 331 2,344 4,075 (16) (8,007) Deferred income tax benefit (expense) (3) 3,074 (48) (492) (856) 4 1,682 AOCI before reclassifications, net of income tax (6,382) 522 (1,378) 1,020 (60) (6,278) Amounts reclassified from AOCI 238 (22) — — 2 218 Deferred income tax benefit (expense) (3) (50) 4 — — — (46) Amounts reclassified from AOCI, net of income tax 188 (18) — — 2 172 Balance at December 31, 2022 (6,194) 504 (1,378) 1,020 (58) (6,106) OCI before reclassifications 2,149 (276) (636) (380) 9 866 Deferred income tax benefit (expense) (3) (451) 58 133 80 (2) (182) AOCI before reclassifications, net of income tax (4,496) 286 (1,881) 720 (51) (5,422) Amounts reclassified from AOCI 226 (11) — — 7 222 Deferred income tax benefit (expense) (3) (47) 2 — — (1) (46) Amounts reclassified from AOCI, net of income tax 179 (9) — — 6 176 Balance at December 31, 2023 (4,317) 277 (1,881) 720 (45) (5,246) OCI before reclassifications (1,226) 136 352 543 (22) (217) Deferred income tax benefit (expense) (3) 257 (28) (74) (114) 4 45 AOCI before reclassifications, net of income tax (5,286) 385 (1,603) 1,149 (63) (5,418) Amounts reclassified from AOCI 189 (18) — — 6 177 Deferred income tax benefit (expense) (3) (40) 4 — — (1) (37) Amounts reclassified from AOCI, net of income tax 149 (14) — — 5 140 Balance at December 31, 2024 $ (5,137) $ 371 $ (1,603) $ 1,149 $ (58) $ (5,278) _______________ (1) See Note 8 for information on offsets to investments related to future policy benefits. (2) Includes OCI related to foreign currency translation and defined benefit plan gains and losses. (3) The effects of income taxes on amounts recorded to AOCI are also recognized in AOCI. These income tax effects are released from AOCI when the related activity is reclassified into results from operations. Information regarding amounts reclassified out of each component of AOCI was as follows: AOCI Components Amounts Reclassified from AOCI Consolidated Statements of Operations Locations Years Ended December 31, 2024 2023 2022 (In millions) Net unrealized investment gains (losses): Net unrealized investment gains (losses) $ (174) $ (198) $ (186) Net investment gains (losses) Net unrealized investment gains (losses) (15) (28) (52) Net derivative gains (losses) Net unrealized investment gains (losses), before income tax (189) (226) (238) Income tax (expense) benefit 40 47 50 Net unrealized investment gains (losses), net of income tax (149) (179) (188) Unrealized gains (losses) on derivatives - cash flow hedges: Interest rate swaps 2 1 5 Net derivative gains (losses) Interest rate swaps 3 3 4 Net investment income Foreign currency swaps 13 7 13 Net derivative gains (losses) Gains (losses) on cash flow hedges, before income tax 18 11 22 Income tax (expense) benefit (4) (2) (4) Gains (losses) on cash flow hedges, net of income tax 14 9 18 Defined benefit plans adjustment: Amortization of net actuarial gains (losses) (6) (7) (2) Amortization of defined benefit plans, before income tax (6) (7) (2) Income tax (expense) benefit 1 1 — Amortization of defined benefit plans, net of income tax (5) (6) (2) Total reclassifications, net of income tax $ (140) $ (176) $ (172)

Other Revenues and Other Expens

Other Revenues and Other Expenses	12 Months Ended
	Dec. 31, 2024
Other Income and Expenses [Abstract]
Other Revenues and Other Expenses	13. Other Revenues and Other Expenses Other Revenues The Company has entered into contracts with mutual funds, fund managers, and their affiliates (collectively, the “Funds”) whereby the Company is paid monthly or quarterly fees (“12b-1 fees”) for providing certain services to customers and distributors of the Funds. The 12b-1 fees, which are included in other revenues, are generally equal to a fixed percentage of the average daily balance of the customer’s investment in a fund. The percentage is specified in the contract between the Company and the Funds. Payments are generally collected when due and are neither refundable nor able to offset future fees. To earn these fees, the Company performs services such as responding to phone inquiries, maintaining records, providing information to distributors and shareholders about fund performance and providing training to account managers and sales agents. The passage of time reflects the satisfaction of the Company’s performance obligations to the Funds and is used to recognize revenue associated with 12b-1 fees. Other revenues included 12b-1 fees of $272 million, $266 million and $292 million for the years ended December 31, 2024, 2023 and 2022, respectively, of which substantially all were reported in the Annuities segment. Other Expenses Information on other expenses was as follows: Years Ended December 31, 2024 2023 2022 (In millions) Compensation $ 408 $ 418 $ 351 Contracted services and other labor costs 285 312 296 Transition services agreements 22 32 58 Establishment costs — — 66 Premium and other taxes, licenses and fees 60 61 54 Separate account fees 365 366 407 Volume related costs, excluding compensation, net of DAC capitalization 577 540 513 Interest expense on debt 152 153 153 Other 77 95 187 Total other expenses $ 1,946 $ 1,977 $ 2,085 Capitalization of DAC See Note 6 for additional information on the capitalization of DAC. Interest Expense on Debt See Note 11 for attribution of interest expense by debt issuance.

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	14. Employee Benefit Plans BHF Active Defined Contribution Plans Brighthouse Services sponsors qualified and non-qualified defined contribution plans. For the years ended December 31, 2024, 2023 and 2022, the total employer contributions for the qualified defined contribution plan were $20 million, $19 million and $18 million, respectively, and the total (benefit) expense recognition for the non-qualified defined contribution plans were $10 million, $9 million and ($2) million, respectively, all of which are reported in other expenses. NELICO Legacy Pension and Other Unfunded Benefit Plans NELICO sponsors both a qualified and a non-qualified defined benefit pension plan, a postretirement plan and other unfunded benefit plans. These pension and other unfunded benefit plans were amended to cease benefit accruals and are closed to new entrants. The qualified defined benefit pension plan had an accumulated benefit obligation of $122 million and $129 million at December 31, 2024 and 2023, respectively. This plan was fully funded with assets in excess of the accumulated benefit obligation of $5 million at both December 31, 2024 and 2023. The Company did not make any employer contributions to this qualified plan during 2024 or 2023. The non-qualified defined benefit pension plan and the postretirement plan had a combined accumulated benefit obligation totaling $75 million and $83 million at December 31, 2024 and 2023, respectively. These amounts are unfunded. The other unfunded benefit plans consist primarily of deferred compensation due to former agents which represent general unsecured liabilities of NELICO. The amounts due under these other unfunded benefit plans were $58 million and $57 million at December 31, 2024 and 2023, respectively. Although NELICO remains the legal obligor for these plans, an employee matters agreement (“EMA”) exists between BHF and MetLife, whereby MetLife has agreed to reimburse BHF for the obligations under the non-qualified and other unfunded plans as payments are made. BHF established a receivable in the amount of the unfunded obligations due under these plans. MetLife is required to annually reimburse BHF for each prior year’s benefit payments, claims and premiums under the NELICO plans that are listed in the EMA. The Company’s receivable under the EMA for future total estimated benefit payments, claims and premiums was $151 million and $155 million at December 31, 2024 and 2023, respectively. The receivable is reported in premiums, reinsurance and other receivables. Increases and decreases to the EMA receivable are reported in other revenues.

Income Tax

Income Tax	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Tax	15. Income Tax The provision for income tax was as follows: Years Ended December 31, 2024 2023 2022 (In millions) Current: Federal $ (10) $ 7 $ (65) State and local 12 12 12 Subtotal 2 19 (53) Deferred: Federal 27 (386) 901 Provision for income tax expense (benefit) $ 29 $ (367) $ 848 The reconciliation of the income tax provision at the statutory tax rate to the provision for income tax as reported was as follows: Years Ended December 31, 2024 2023 2022 (Dollars in millions) Tax provision at statutory rate $ 88 $ (310) $ 994 Tax effect of: Resolution of prior years 6 — (76) Dividends received deduction (34) (34) (36) Tax credits (25) (9) (20) Change in uncertain tax benefits (18) — (15) Return to provision (12) (5) (6) Adjustments to deferred tax 14 — (2) Change in valuation allowance — (18) — State tax, net of federal benefit 10 9 10 Other, net — — (1) Provision for income tax expense (benefit) $ 29 $ (367) $ 848 Effective tax rate 7 % 25 % 18 % Deferred income tax represents the tax effect of the differences between the book and tax bases of assets and liabilities. Net deferred income tax assets and liabilities consisted of the following at: December 31, 2024 2023 (In millions) Deferred income tax assets: Net unrealized investment losses $ 1,267 $ 1,074 Net operating loss carryforwards 2,004 1,845 Investments, including derivatives 147 213 Tax credit carryforwards 190 190 Employee benefits 27 29 Intangibles 60 64 Other 4 — Total deferred income tax assets 3,699 3,415 Less: Valuation allowance 1 1 Total net deferred income tax assets 3,698 3,414 Deferred income tax liabilities: Policyholder liabilities and receivables 1,174 863 DAC 649 657 Other — 1 Total deferred income tax liabilities 1,823 1,521 Net deferred income tax asset (liability) $ 1,875 $ 1,893 The following table sets forth the net operating loss carryforwards for tax purposes at December 31, 2024. Net Operating Loss Carryforwards (In millions) Expiration 2032-2037 $ 1,943 Indefinite 7,598 $ 9,541 The following table sets forth the general business credits and foreign tax credits available for carryforward for tax purposes at December 31, 2024. Tax Credit Carryforwards General Business Credits Foreign Tax Credits (In millions) Expiration 2027-2031 $ — $ 121 2032-2036 12 43 2037-2041 13 — 2042-2044 1 — Indefinite — — $ 26 $ 164 The Company’s liability for unrecognized tax benefits may increase or decrease in the next 12 months. A reasonable estimate of the increase or decrease cannot be made at this time. However, the Company continues to believe that the ultimate resolution of the pending issues will not result in a material change to its consolidated financial statements, although the resolution of income tax matters could impact the Company’s effective tax rate in the future. A reconciliation of the beginning and ending amount of unrecognized tax benefits was as follows: Years Ended December 31, 2024 2023 2022 (In millions) Balance at January 1, $ 19 $ 19 $ 35 Additions for tax positions of prior years — — 6 Reductions for tax positions of prior years (6) — — Additions for tax positions of current year — — — Reductions for tax positions of current year — — — Settlements with tax authorities — — — Lapses of statutes of limitations (12) — (22) Balance at December 31, $ 1 $ 19 $ 19 Unrecognized tax benefits that, if recognized would impact the effective rate $ 1 $ 19 $ 19 The Company classifies interest accrued related to unrecognized tax benefits in interest expense, included in other expenses, while penalties are included in income tax expense. Interest related to unrecognized tax benefits was not significant. The Company had no penalties for each of the years ended December 31, 2024, 2023 and 2022. The Company is subject to examination by the Internal Revenue Service and other tax authorities in jurisdictions in which the Company has significant business operations. The income tax years under examination vary by jurisdiction and subsidiary. The Company is no longer subject to federal, state or local income tax examinations for years prior to 2017. Management believes it has established adequate tax liabilities, and final resolution of any audits for the years 2017 and forward is not expected to have a material impact on the Company’s consolidated financial statements. Tax Sharing Agreements For the periods prior to the Separation, BHF and certain of its subsidiaries filed a consolidated federal income tax return with MetLife, Inc. and its insurance and non-insurance subsidiaries. Current taxes (and the benefits of tax attributes such as losses) are allocated to BHF, and its includable subsidiaries, under a tax sharing agreement with MetLife, Inc. This tax sharing agreement states that federal taxes are computed on a modified separate return basis with benefits for losses. For periods after the Separation through the year ended December 31, 2022, Brighthouse Financial entered into two separate tax sharing agreements. Brighthouse Life Insurance Company, BHNY and BRCD entered into a tax sharing agreement to join a consolidated federal income tax return. BHF and certain of its non-insurance subsidiaries entered into a tax sharing agreement to join a consolidated federal income tax return. The tax sharing agreements state that federal taxes are computed on a modified separate return basis with benefit for losses. NELICO and the non-insurance subsidiaries of Brighthouse Life Insurance Company filed their own federal income tax returns. For periods beginning with the year ended December 31, 2023, BHF and certain of its subsidiaries, including its insurance and reinsurance subsidiaries, file a consolidated federal income tax return. In furtherance thereof, such parties joined a single tax sharing agreement, pursuant to which federal taxes are computed on a modified separate return basis with benefits for losses. Income Tax Transactions with Former Parent In connection with the Separation, the Company entered into a tax receivables agreement (the “Tax Receivables Agreement”) with MetLife that provides MetLife with the right to receive, as partial consideration for its contribution of assets to BHF, future payments from BHF equal to 86% of the amount of cash savings, if any, in federal income tax that Brighthouse Financial actually, or is deemed to, realize as a result of the utilization of BHF and its subsidiaries’ net operating losses, capital losses, tax basis and amortization or depreciation deductions in respect of certain tax benefits it may realize as a result of certain transactions involved in the Separation. In connection with the Tax Receivables Agreement, the Company has a payable to MetLife of $328 million at both December 31, 2024 and 2023, reported in other liabilities. The Company also entered into a tax separation agreement with MetLife (the “Tax Separation Agreement”). Among other things, the Tax Separation Agreement governs the allocation between MetLife and the Company of the responsibility for the taxes of the MetLife group. The Tax Separation Agreement also allocates rights, obligations and responsibilities in connection with certain administrative matters relating to the preparation of tax returns and control of tax audits and other proceedings relating to taxes. For the years ended December 31, 2024, 2023 and 2022, MetLife paid Brighthouse Financial $0, $0 and $7 million, respectively, under the Tax Separation Agreement. At December 31, 2024 and 2023, there was a current income tax receivable of $16 million and $21 million, respectively, related to this agreement.

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Common Share	16. Earnings Per Common Share The calculation of earnings per common share was as follows: Years Ended December 31, 2024 2023 2022 (In millions, except share and per share data) Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders $ 286 $ (1,214) $ 3,775 Weighted average common shares outstanding — basic 61,199,247 66,013,645 72,970,249 Dilutive effect of share-based awards 401,135 — 610,919 Weighted average common shares outstanding — diluted 61,600,382 66,013,645 73,581,168 Earnings per common share: Basic $ 4.67 $ (18.39) $ 51.73 Diluted $ 4.64 $ (18.39) $ 51.30 For the years ended December 31, 2024 and 2022, weighted average shares used for calculating diluted earnings per common share excludes 187,371 shares underlying out-of-the-money stock options, as the inclusion of such shares would be antidilutive under the treasury stock method to the earnings per common share calculation due to the average share price for the years ended December 31, 2024 and 2022. See Note 12 for further information on share-based compensation plans. For the year ended December 31, 2023, basic loss per common share equaled diluted loss per common share. The diluted shares were not included in the per share calculation for this period as the inclusion of such shares would have an antidilutive effect.

Contingencies, Commitments and

Contingencies, Commitments and Guarantees	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies, Commitments and Guarantees	17. Contingencies, Commitments and Guarantees Contingencies Litigation The Company is a defendant in a number of litigation matters. In some of the matters, large or indeterminate amounts, including punitive and treble damages, are sought. Modern pleading practice in the U.S. permits considerable variation in the assertion of monetary damages or other relief. Jurisdictions may permit claimants not to specify the monetary damages sought or may permit claimants to state only that the amount sought is sufficient to invoke the jurisdiction of the trial court. In addition, jurisdictions may permit plaintiffs to allege monetary damages in amounts well exceeding reasonably possible verdicts in the jurisdiction for similar matters. This variability in pleadings, together with the actual experience of the Company in litigating or resolving through settlement numerous claims over an extended period of time, demonstrates to management that the monetary relief which may be specified in a lawsuit or claim bears little relevance to its merits or disposition value. The Company also receives and responds to subpoenas or other inquiries seeking a broad range of information from various state and federal regulators, agencies and officials. The issues involved in information requests and regulatory matters vary widely, but can include inquiries or investigations concerning the Company’s compliance with applicable insurance and other laws and regulations. The Company cooperates in these inquiries. Due to the vagaries of litigation, the outcome of a litigation matter and the amount or range of potential loss at particular points in time may normally be difficult to ascertain. Uncertainties can include how fact finders will evaluate documentary evidence and the credibility and effectiveness of witness testimony, and how trial and appellate courts will apply the law in the context of the pleadings or evidence presented, whether by motion practice, or at trial or on appeal. Disposition valuations are also subject to the uncertainty of how opposing parties and their counsel will themselves view the relevant evidence and applicable law. The Company establishes liabilities for litigation and regulatory loss contingencies when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. It is possible that some matters could require the Company to pay damages or make other expenditures or establish accruals in amounts that could not be estimated at December 31, 2024. Matters as to Which an Estimate Can Be Made For some loss contingency matters, the Company is able to estimate a reasonably possible range of loss. For such matters where a loss is believed to be reasonably possible, but not probable, no accrual has been made. In addition to amounts accrued for probable and reasonably estimable losses, as of December 31, 2024, the Company estimates the aggregate range of reasonably possible losses to be up to approximately $10 million. Matters as to Which an Estimate Cannot Be Made For other matters, the Company is not currently able to estimate the reasonably possible loss or range of loss. The Company is often unable to estimate the possible loss or range of loss until developments in such matters have provided sufficient information to support an assessment of the range of possible loss, such as quantification of a damage demand from plaintiffs, discovery from other parties and investigation of factual allegations, rulings by the court on motions or appeals, analysis by experts, and the progress of settlement negotiations. On a quarterly and annual basis, the Company reviews relevant information with respect to litigation contingencies and updates its accruals, disclosures and estimates of reasonably possible losses or ranges of loss based on such reviews. Sales Practices Claims Over the past several years, the Company has faced claims and regulatory inquiries and investigations, alleging improper marketing or sales of individual life insurance policies, annuities or other products. The Company continues to defend vigorously against the claims in these matters. The Company believes adequate provision has been made in its consolidated financial statements for all probable and reasonably estimable losses for sales practices matters. Cost of Insurance Class Actions Richard A. Newton v. Brighthouse Life Insurance Company (U.S. District Court, Northern District of Georgia, Atlanta Division, filed May 8, 2020). Plaintiff has filed a purported class action lawsuit against Brighthouse Life Insurance Company. Plaintiff was the owner of a universal life insurance policy issued by Travelers Insurance Company, a predecessor to Brighthouse Life Insurance Company. Plaintiff seeks to certify a class of all persons who own or owned life insurance policies issued where the terms of the life insurance policy provide or provided, among other things, a guarantee that the cost of insurance rates would not be increased by more than a specified percentage in any contract year. Plaintiff also alleges that cost of insurance charges were based on improper factors and should have decreased over time due to improving mortality but did not. Plaintiff alleges, among other things, causes of action for breach of contract, fraud, suppression and concealment, and violation of the Georgia Racketeer Influenced and Corrupt Organizations Act. Plaintiff seeks to recover damages, including punitive damages, interest and treble damages, attorneys’ fees, and injunctive and declaratory relief. Brighthouse Life Insurance Company filed a motion to dismiss in June 2020, which was granted in part and denied in part in March 2021. Plaintiff was granted leave to amend the complaint. On January 18, 2023, plaintiff filed a motion on consent to amend the second amended class action complaint to narrow the scope of the class sought to those who own or owned policies issued in Georgia. The motion was granted on January 23, 2023, and the third amended class action complaint was filed on January 23, 2023. The Company intends to vigorously defend this matter. Lawrence Martin v. Brighthouse Life Insurance Company (U.S. District Court, Southern District of New York, filed April 6, 2021). Plaintiff has filed a purported class action lawsuit against Brighthouse Life Insurance Company. Plaintiff is the owner of a universal life insurance policy issued by Travelers Insurance Company, a predecessor to Brighthouse Life Insurance Company. Plaintiff seeks to certify a class of similarly situated owners of universal life insurance policies issued or administered by defendants and alleges that cost of insurance charges were based on improper factors and should have decreased over time due to improving mortality but did not. Plaintiff alleges, among other things, causes of action for breach of contract, breach of the covenant of good faith and fair dealing, and unjust enrichment. Plaintiff seeks to recover compensatory damages, attorney’s fees, interest, and equitable relief including a constructive trust. Brighthouse Life Insurance Company filed a motion to dismiss in June 2021, which was denied in February 2022. Brighthouse Life Insurance Company of NY was initially named as a defendant when the lawsuit was filed, but was dismissed as a defendant, without prejudice, in April 2022. The Company intends to vigorously defend this matter. MOVEit Data Security Incident Litigation Kennedy v. Progress Software Corporation, et al. (U.S. District Court, District of Massachusetts, filed October 3, 2023). BHF has been named as a defendant in a purported class action lawsuit. The action relates to a data security incident at an alleged third-party vendor, PBI Research Services (“PBI”), and allegedly involves the MOVEit file transfer system that PBI uses in its provision of services (“MOVEit Incident”). As it relates to BHF, plaintiff seeks to certify a subclass of persons whose private information was allegedly maintained by BHF and accessed or acquired in relation to the MOVEit Incident. Plaintiff alleges, among other things, that BHF negligently chose to utilize PBI to store and transfer plaintiff’s and purported class members’ private information despite PBI’s use of the MOVEit software which plaintiff contends contained security vulnerabilities. The complaint asserts claims against BHF for negligence, negligence per se, and unjust enrichment, and plaintiff seeks declaratory and injunctive relief, damages, attorneys’ fees and prejudgment interest. The court dismissed claims for injunctive relief against BHF but denied the remainder of a motion to dismiss based on plaintiff’s lack of standing. BHF intends to vigorously defend this matter. Summary Various litigations, claims and assessments against the Company, in addition to those discussed previously and those otherwise provided for in the Company’s consolidated financial statements, have arisen in the course of the Company’s business, including, but not limited to, in connection with its activities as an insurer, investor and taxpayer. Further, state insurance regulatory authorities and other federal and state authorities regularly make inquiries and conduct investigations concerning the Company’s compliance with applicable insurance and other laws and regulations. It is not possible to predict the ultimate outcome of all pending investigations and legal proceedings. In some of the matters referred to previously, large or indeterminate amounts, including punitive and treble damages, are sought. Although, in light of these considerations, it is possible that an adverse outcome in certain cases could have a material effect upon the Company’s financial position, based on information currently known by the Company’s management, in its opinion, the outcomes of such pending investigations and legal proceedings are not likely to have such an effect. However, given the large or indeterminate amounts sought in certain of these matters and the inherent unpredictability of litigation, it is possible that an adverse outcome in certain matters could, from time to time, have a material effect on the Company’s consolidated net income or cash flows in particular quarterly or annual periods. Other Loss Contingencies As with litigation and regulatory loss contingencies, the Company considers establishing liabilities for loss contingencies associated with disputes or other matters involving third parties, including counterparties to contractual arrangements entered into by the Company (e.g., third-party vendors and reinsurers), as well as with tax or other authorities (“other loss contingencies”). The Company establishes liabilities for such other loss contingencies when it is probable that a loss will be incurred and the amount of the loss can be reasonably estimated. In matters where it is not probable, but is reasonably possible that a loss will be incurred and the amount of loss can be reasonably estimated, such losses or range of losses are disclosed, and no accrual is made. In the absence of sufficient information to support an assessment of the reasonably possible loss or range of loss, no accrual is made and no loss or range of loss is disclosed. On a quarterly basis, the Company reviews relevant information with respect to other loss contingencies and, when applicable, updates its accruals, disclosures and estimates of reasonably possible losses or estimated ranges of loss based on such reviews. The Company’s tax-related matters have involved disputes with taxing authorities, ongoing audits, evaluation of filing positions and any potential assessments related thereto. In the matters where the Company’s subsidiaries are acting as the reinsured or the reinsurer, such reinsurance matters have involved assertions by third parties primarily related to rates, fees or reinsured benefit calculations, and certain of such reinsurance matters have resulted in arbitration. As of December 31, 2024, the Company estimates the range of reasonably possible losses in excess of the amounts accrued for certain other loss contingencies to be from zero up to approximately $100 million relating to certain tax matters, as described above. For certain other matters, the Company may not currently be able to estimate the reasonably possible loss or estimated range of loss until developments in such matters have provided sufficient information to support an assessment of such loss. During the first quarter of 2024, an arbitration panel ruled in favor of a reinsurer seeking a premium rate increase retroactive to September 2019 resulting in a $187 million loss, of which $167 million was reported in universal life and investment product-type policy fees and $20 million was reported in other expenses. Commitments Mortgage Loan Commitments The Company commits to lend funds under mortgage loan commitments. The amounts of these mortgage loan commitments were $271 million and $377 million at December 31, 2024 and 2023, respectively. Commitments to Fund Partnership Investments, Bank Credit Facilities and Private Corporate Bond Investments The Company commits to fund partnership investments and to lend funds under bank credit facilities and private corporate bond investments. The amounts of these unfunded commitments were $1.7 billion and $1.4 billion at December 31, 2024 and 2023, respectively. Guarantees In the normal course of its business, the Company has provided certain indemnities, guarantees and commitments to third parties such that it may be required to make payments now or in the future. In the context of reinsurance, acquisition, disposition, investment and other transactions, the Company has provided indemnities and guarantees, including those related to tax, environmental and other specific liabilities and other indemnities and guarantees that are triggered by, among other things, breaches of representations, warranties or covenants provided by the Company. In addition, in the normal course of business, the Company provides indemnifications to counterparties in contracts with triggers similar to the foregoing, as well as for certain other liabilities, such as third-party lawsuits. These obligations are often subject to time limitations that vary in duration, including contractual limitations and those that arise by operation of law, such as applicable statutes of limitation. In some cases, the maximum potential obligation under the indemnities and guarantees is subject to a contractual limitation with a cumulative maximum of $83 million, while in other cases such limitations are not specified or applicable. Since certain of these obligations are not subject to limitations, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these guarantees in the future. Management believes that it is unlikely the Company will have to make any material payments under these indemnities, guarantees, or commitments. In addition, the Company indemnifies its directors and officers as provided in its charters and bylaws. Also, the Company indemnifies its agents for liabilities incurred as a result of their representation of the Company’s interests. Since these indemnities are generally not subject to limitation with respect to duration or amount, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these indemnities in the future. The Company did not have any liabilities recorded for indemnities, guarantees and commitments at December 31, 2024 and had recorded liabilities for indemnities, guarantees and commitments of $1 million at December 31, 2023.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Event	18. Subsequent Event Preferred Stock Dividend On February 18, 2025, BHF declared a dividend of $412.50 per share on its Series A Preferred Stock, $421.88 per share on its Series B Preferred Stock, $335.94 per share on its Series C Preferred Stock and $289.06 per share on its Series D Preferred Stock for a total of $26 million, which will be paid on March 25, 2025 to stockholders of record as of March 10, 2025. Capital Transaction On February 11, 2025, Brighthouse Life Insurance Company received a $100 million capital contribution from BH Holdings.

Consolidated Summary of Investm

Consolidated Summary of Investments - Other Than Investments in Related Parties	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]
Consolidated Summary of Investments - Other Than Investments in Related Parties	Brighthouse Financial, Inc. Schedule I Consolidated Summary of Investments — Other Than Investments in Related Parties December 31, 2024 (In millions) Types of Investments Cost or Estimated Fair Value Amount at Fixed maturity securities: Bonds: U.S. government and agency $ 7,408 $ 6,747 $ 6,747 State and political subdivision 3,731 3,441 3,441 Public utilities 4,085 3,662 3,662 Foreign government 1,036 959 959 All other corporate bonds 49,713 44,925 44,925 Total bonds 65,973 59,734 59,734 Mortgage-backed and asset-backed securities 21,250 19,955 19,955 Redeemable preferred stock 380 366 366 Total fixed maturity securities 87,603 80,055 80,055 Equity securities: Non-redeemable preferred stock 18 11 11 Common stock: Industrial, miscellaneous and all other 59 65 65 Banks, trust and insurance companies — — — Public utilities — 1 1 Total equity securities 77 77 77 Mortgage loans 23,286 23,286 Policy loans 2,024 2,024 Limited partnerships and LLCs 4,827 4,827 Short-term investments 1,868 1,868 Other invested assets 5,250 5,250 Total investments $ 124,935 $ 117,387 _______________ (1) Cost or amortized cost for fixed maturity securities represents original cost reduced by impairments that are charged to earnings and adjusted for amortization of premiums or accretion of discounts; for mortgage loans, cost represents original cost reduced by repayments and valuation allowances and adjusted for amortization of premiums or accretion of discounts; for equity securities, cost represents original cost; for limited partnerships and LLCs, cost represents original cost adjusted for equity in earnings and distributions.

Condensed Financial Information

Condensed Financial Information (Parent Company)	12 Months Ended
	Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]
Condensed Financial Information of Parent Company Only	Brighthouse Financial, Inc. Schedule II Condensed Financial Information (Parent Company Only) December 31, 2024 and 2023 (In millions, except share and per share data) 2024 2023 Condensed Balance Sheets Assets Investments: Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $190 and $106, respectively; allowance for credit losses of $0 and $0, respectively) $ 190 $ 106 Short-term investments, principally at estimated fair value 622 580 Other invested assets, principally at estimated fair value 5 — Investment in subsidiary 7,799 7,710 Total investments 8,616 8,396 Cash and cash equivalents 245 512 Premiums and other receivables 163 175 Current income tax recoverable 42 78 Other assets 4 5 Total assets $ 9,070 $ 9,166 Liabilities and Stockholders’ Equity Liabilities Long-term and short-term debt $ 3,716 $ 3,859 Deferred income tax liability 31 17 Other liabilities 364 347 Total liabilities 4,111 4,223 Stockholders’ Equity Preferred stock, par value $0.01 per share; 1,753 aggregate liquidation preference — — Common stock, par value $0.01 per share; 1,000,000,000 shares authorized; 123,480,326 and 122,818,568 shares issued, respectively; 58,629,049 and 63,503,355 shares outstanding, respectively 1 1 Additional paid-in capital 13,927 14,004 Retained earnings (deficit) (1,119) (1,507) Treasury stock, at cost; 64,851,277 and 59,315,213 shares, respectively (2,572) (2,309) Accumulated other comprehensive income (loss) (5,278) (5,246) Total stockholders’ equity 4,959 4,943 Total liabilities and stockholders’ equity $ 9,070 $ 9,166 See accompanying notes to the condensed financial information. Brighthouse Financial, Inc. Schedule II Condensed Financial Information (continued) (Parent Company Only) For the Years Ended December 31, 2024, 2023 and 2022 (In millions) 2024 2023 2022 Condensed Statements of Operations Revenues Net investment income $ 54 $ 38 $ 14 Other revenues 9 — (3) Net investment gains (losses) — — (2) Net derivative gains (losses) 20 10 (7) Total revenues 83 48 2 Expenses Other expenses 207 192 168 Total expenses 207 192 168 Income (loss) before provision for income tax and equity in earnings (losses) of subsidiaries (124) (144) (166) Provision for income tax expense (benefit) (26) (30) (35) Income (loss) before equity in earnings (losses) of subsidiaries (98) (114) (131) Equity in earnings (losses) of subsidiaries 486 (998) 4,010 Net income (loss) 388 (1,112) 3,879 Less: Preferred stock dividends 102 102 104 Net income (loss) available to common shareholders $ 286 $ (1,214) $ 3,775 Comprehensive income (loss) $ 356 $ (252) $ (2,274) See accompanying notes to the condensed financial information. Brighthouse Financial, Inc. Schedule II Condensed Financial Information (continued) (Parent Company Only) For the Years Ended December 31, 2024, 2023 and 2022 (In millions) 2024 2023 2022 Condensed Statements of Cash Flows Cash flows from operating activities Net income (loss) $ 388 $ (1,112) $ 3,879 Equity in (earnings) losses of subsidiaries (486) 998 (4,010) Distributions from subsidiary — 350 — Other, net 50 (24) 2 Net cash provided by (used in) operating activities (48) 212 (129) Cash flows from investing activities Sales, maturities and repayments of fixed maturity securities 104 — — Purchases of fixed maturity securities (180) (106) — Cash received in connection with freestanding derivatives 15 30 41 Cash paid in connection with freestanding derivatives (9) (6) (5) Net change in short-term investments (30) 211 408 Net cash provided by (used in) investing activities (100) 129 444 Cash flows from financing activities Net change in payables for collateral under securities loaned and other transactions 6 — — Long-term and short-term debt issued 570 753 961 Long-term and short-term debt repaid (339) (439) (811) Dividends on preferred stock (102) (102) (104) Treasury stock acquired in connection with share repurchases (250) (250) (488) Financing element on certain derivative instruments and other derivative related transactions, net 8 (1) (7) Other, net (12) (14) (14) Net cash provided by (used in) financing activities (119) (53) (463) Change in cash and cash equivalents (267) 288 (148) Cash and cash equivalents, beginning of year 512 224 372 Cash and cash equivalents, end of year $ 245 $ 512 $ 224 Supplemental disclosures of cash flow information Net cash paid (received) for: Interest $ 191 $ 176 $ 155 Income tax $ (79) $ (6) $ (24) See accompanying notes to the condensed financial information. 1. Basis of Presentation The condensed financial information of Brighthouse Financial, Inc. (the “Parent Company” or “BHF”) should be read in conjunction with the consolidated financial statements of Brighthouse Financial, Inc. and its subsidiaries and the notes thereto (the “Consolidated Financial Statements”). These condensed unconsolidated financial statements reflect the results of operations, financial position and cash flows for Brighthouse Financial, Inc. Investments in subsidiaries are accounted for using the equity method of accounting. The preparation of these condensed unconsolidated financial statements in conformity with GAAP requires management to adopt accounting policies and make certain estimates and assumptions. The most important of these estimates and assumptions relate to the fair value measurements, identifiable intangible assets and the provision for potential losses that may arise from litigation and regulatory proceedings and tax audits, which may affect the amounts reported in the condensed unconsolidated financial statements and accompanying notes. Actual results could differ from these estimates. 2. Investment in Subsidiary During the year ended December 31, 2024, BHF received non-cash distributions of $376 million from Brighthouse Holdings, LLC (“BH Holdings”) and did not make any capital contributions to BH Holdings. The non-cash distributions received related to reductions of short-term intercompany loans of $400 million from Brighthouse Services, LLC to BH Holdings (which was then contributed to BHF). During the year ended December 31, 2023, BHF received cash distributions of $350 million and non-cash distributions of $100 million from BH Holdings and did not make any capital contributions to BH Holdings. Cash distributions received during the year ended December 31, 2023 primarily related to $266 million of ordinary cash dividends paid by Brighthouse Life Insurance Company to BH Holdings. The non-cash distributions received related to reductions of short-term intercompany loans of $50 million from Brighthouse Services, LLC to BH Holdings (which was then contributed to BHF) and an additional $50 million from BH Holdings to BHF. During the year ended December 31, 2022, BHF received non-cash distributions of $350 million from BH Holdings and did not make any capital contributions to BH Holdings. The non-cash distributions received related to reductions of short-term intercompany loans of $250 million from Brighthouse Services, LLC to BH Holdings (which was then contributed to BHF) and an additional $100 million from BH Holdings to BHF. 3. Long-term and Short-term Debt Long-term and short-term debt outstanding was as follows at: December 31, Stated Interest Rate Maturity 2024 2023 (In millions) Senior notes — unaffiliated 3.700% 2027 $ 756 $ 756 Senior notes — unaffiliated 5.625% 2030 615 614 Senior notes — unaffiliated 4.700% 2047 1,002 1,001 Senior notes — unaffiliated 3.850% 2051 397 397 Junior subordinated debentures — unaffiliated 6.250% 2058 364 364 Total long-term debt (1) 3,134 3,132 Short-term intercompany loans 582 727 Total long-term and short-term debt (1) $ 3,716 $ 3,859 _______________ (1) Includes unamortized debt issuance costs, discounts and premiums, as applicable, totaling net $27 million and $30 million for the senior notes and junior subordinated debentures on a combined basis at December 31, 2024 and 2023, respectively. Brighthouse Financial, Inc. Schedule II Notes to the Condensed Financial Information (continued) (Parent Company Only) The aggregate maturities of long-term and short-term debt at December 31, 2024 were $582 million in 2025, $0 in 2026, $757 million in 2027, $0 in each of 2028 and 2029, and $2.4 billion thereafter. Interest expense related to long-term and short-term debt of $192 million, $178 million and $155 million for the years ended December 31, 2024, 2023 and 2022, respectively, is included in other expenses. Senior Notes and Junior Subordinated Debentures See Note 11 of the Notes to the Consolidated Financial Statements for information regarding the unaffiliated senior notes and junior subordinated debentures. Credit Facilities See Note 11 of the Notes to the Consolidated Financial Statements for information regarding BHF’s credit facilities. Short-term Intercompany Loans BHF, as borrower, has a short-term intercompany loan agreement with certain of its non-insurance subsidiaries, as lenders, for the purposes of facilitating the management of the available cash of the borrower and the lenders on a short-term and consolidated basis. Such intercompany loan agreement allows management to optimize the efficient use of and maximize the yield on cash between BHF and its subsidiary lenders. Each loan entered into under this intercompany loan agreement has a term not more than 364 days and bears interest on the unpaid principal amount at a variable rate, payable monthly. During the years ended December 31, 2024, 2023 and 2022, BHF borrowed $570 million, $753 million and $1.0 billion, respectively, from certain of its non-insurance subsidiaries and repaid $339 million, $439 million and $811 million of such borrowings during the years ended December 31, 2024, 2023 and 2022, respectively. The weighted average interest rate on short-term intercompany loans outstanding at December 31, 2024, 2023 and 2022 was 3.73%, 4.73% and 3.73%, respectively. Intercompany Liquidity Facilities BHF has established intercompany liquidity facilities with certain of its insurance and non-insurance subsidiaries to provide short-term liquidity within and across the combined group of companies. Under these facilities, which are comprised of a series of revolving loan agreements among BHF and its participating subsidiaries, each company may lend to or borrow from each other, subject to certain maximum limits for a term of up to 364 days, depending on the agreement. During the years ended December 31, 2024, 2023 and 2022, there were no borrowings or repayments by BHF under these facilities.

Consolidated Supplementary Insu

Consolidated Supplementary Insurance Information	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
Consolidated Supplementary Insurance Information	Brighthouse Financial, Inc. Schedule III Consolidated Supplementary Insurance Information December 31, 2024 and 2023 (In millions) Segment DAC Future Policy Benefits and Other Policy-Related Balances Policyholder Account Balances Unearned Premiums (1)(2) Unearned Revenue (1) 2024 Annuities $ 4,027 $ 4,040 $ 67,777 $ — $ 60 Life 680 6,648 2,859 9 357 Run-off 3 18,672 6,376 — 715 Corporate & Other — 5,993 10,977 5 — Total $ 4,710 $ 35,353 $ 87,989 $ 14 $ 1,132 2023 Annuities $ 4,111 $ 4,024 $ 60,929 $ — $ 67 Life 758 6,549 2,856 11 356 Run-off 3 19,421 6,694 — 612 Corporate & Other — 6,411 10,589 5 — Total $ 4,872 $ 36,405 $ 81,068 $ 16 $ 1,035 _______________ (1) Amounts are included in the future policy benefits and other policy-related balances column. (2) Includes premiums received in advance. Brighthouse Financial, Inc. Schedule III Consolidated Supplementary Insurance Information (continued) December 31, 2024, 2023 and 2022 (In millions) Segment Premiums and Net Policyholder Benefits and Claims and Amortization of Other 2024 Annuities $ 1,900 $ 2,850 $ 1,830 $ 505 $ 1,399 Life 654 464 815 94 188 Run-off 332 1,230 1,335 — 166 Corporate & Other — 678 450 — 193 Total $ 2,886 $ 5,222 $ 4,430 $ 599 $ 1,946 2023 Annuities $ 1,875 $ 2,546 $ 1,534 $ 516 $ 1,391 Life 775 431 991 104 203 Run-off 473 1,115 1,588 — 167 Corporate & Other — 572 388 — 216 Total $ 3,123 $ 4,664 $ 4,501 $ 620 $ 1,977 2022 Annuities $ 1,831 $ 2,240 $ 1,277 $ 515 $ 1,417 Life 756 438 875 114 130 Run-off 510 1,146 1,216 — 293 Corporate & Other — 314 163 — 245 Total $ 3,097 $ 4,138 $ 3,531 $ 629 $ 2,085 _______________ (1) See Note 2 of the Notes to the Consolidated Financial Statements for the basis of allocation of net investment income.

Consolidated Reinsurance

Consolidated Reinsurance	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
Consolidated Reinsurance	Brighthouse Financial, Inc. Schedule IV Consolidated Reinsurance December 31, 2024, 2023 and 2022 (Dollars in millions) Gross Amount Ceded Assumed Net Amount % Amount Assumed to Net 2024 Life insurance in-force (1) $ 470,679 $ 125,696 $ 5,641 $ 350,624 1.6% Insurance premium Life insurance (2) $ 1,206 $ 450 $ 12 $ 768 1.6% Accident & health insurance 189 187 — 2 —% Total insurance premium $ 1,395 $ 637 $ 12 $ 770 1.6% 2023 Life insurance in-force (1) $ 489,313 $ 134,682 $ 6,127 $ 360,758 1.7% Insurance premium Life insurance (2) $ 1,294 $ 489 $ 14 $ 819 1.7% Accident & health insurance 205 196 — 9 —% Total insurance premium $ 1,499 $ 685 $ 14 $ 828 1.7% 2022 Life insurance in-force (1) $ 502,679 $ 144,647 $ 6,578 $ 364,610 1.8% Insurance premium Life insurance (2) $ 1,157 $ 505 $ 6 $ 658 0.9% Accident & health insurance 202 198 — 4 —% Total insurance premium $ 1,359 $ 703 $ 6 $ 662 0.9% _______________ (1) Includes life insurance products in the Life, Run-off and Corporate & Other segments. (2) Includes annuities with life contingencies.

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)	$ 388	$ (1,112)	$ 3,879

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]	Managing Cybersecurity Risks; Cybersecurity Risk Management Strategy Our cybersecurity risk management program is integrated into the Company’s enterprise risk management framework, and our strategy focuses on implementing effective and efficient processes, technologies, and controls to assess, identify, and manage cybersecurity risks. Our cybersecurity risk management program is designed to be aligned with the National Institute of Standards and Technology Cybersecurity Framework (“NIST Framework”), which provides standards, guidelines and best practices on managing cybersecurity risk, as well as the organization, improvement and assessment of the Company’s cybersecurity risk management program. Our Chief Technology Officer (“CTO”) has overall responsibility for our information technology program, which includes the Company’s cybersecurity risk management program. Our Chief Information Security Officer (“CISO”) is directly responsible for the Company’s cybersecurity risk management program, which is designed to protect and preserve the integrity, confidentiality, and continued availability of the information owned by, or in the care of, the Company. Our CTO has over 25 years of information technology experience, including systems development, technology strategy, and vendor management; our CISO has over 30 years of information technology and cybersecurity risk management program management experience. Prior to joining Brighthouse Financial, both our CTO and CISO previously served in roles that involved leading and overseeing information technology and cybersecurity risk management programs at other public companies in the financial services industry. In addition, our CTO serves on a cross-departmental, management-level risk committee that oversees the Company’s enterprise risks, including cybersecurity risks. This enterprise-level risk committee is informed about and monitors the prevention, mitigation, detection, and remediation of cybersecurity incidents. Our cybersecurity team regularly assesses the threat landscape and takes an enterprise-wide view of cybersecurity risks. We monitor issues that are internally discovered or externally reported that may affect our business, and we employ a range of tools and third-party services to effectuate our cybersecurity risk identification and assessments, including regular network and endpoint monitoring, threat and vulnerability assessments, and external penetration testing. In addition, our cybersecurity team conducts regular reviews, conducts tabletop exercises, performs internal testing, and leverages the audits performed by our internal audit team. We also engage the services of third-party consultants to assess and evaluate the effectiveness of our controls (in alignment with the NIST Framework), to improve our security measures and strategy, and to review our cybersecurity risk management program against the NIST Framework. The results of the most recent assessment of our cybersecurity risk management program confirmed the rigor of our cybersecurity risk management practices. Our cybersecurity team has also established company-wide policies and procedures that cover cybersecurity matters, which are designed to enable us to effectively identify, evaluate, and respond to events that have the potential to impact our business. In the event of a cybersecurity incident, the Company utilizes a well-defined incident response plan that is designed to coordinate the activities we take to prepare for, detect, respond to and recover from cybersecurity incidents, which include processes to triage, assess severity, escalate, contain, investigate, and remediate the incident, as well as to comply with potentially applicable legal obligations (including relevant securities laws) and mitigate brand and reputational damage. This plan includes immediate actions to mitigate the impact of the incident, as well as long-term strategies for the remediation and prevention of future incidents. In accordance with this plan, we have established a cross-departmental Brighthouse Response Team that is responsible for coordinating enterprise-wide responses to cybersecurity incidents. This Brighthouse Response Team provides reports regarding cybersecurity incidents to the enterprise-level risk committee referenced above. Further, employees outside of our information technology organization have a role in our cybersecurity defenses, and we encourage a corporate culture supportive of security, which we believe improves the effectiveness of our cybersecurity risk management program. Through our Security Awareness Program, we provide our employees with regular cybersecurity training and educational resources to help ensure that they remain vigilant against threats. These include frequent simulated phishing campaigns, newsletters, alerts, e-mail reminders, and a mandatory annual cybersecurity awareness training course for all employees. In addition to Company policies that we make available to all employees, our cybersecurity awareness training provides clear reporting and escalation processes in the event of suspicious activity. Third-Party Risk Management Our processes also address the cybersecurity risks associated with our use of third-party vendors, some of which have access to our customer and employee data. We conduct security assessments of all third-party vendors that have access to our systems, our data and/or the facilities that house such systems or data. As part of our third-party risk management program, our cybersecurity risk management and third-party risk management teams collaborate to monitor our third-party vendors’ compliance with our cybersecurity standards. This approach is designed to mitigate risks related to data breaches or other security incidents originating from third parties. Risks from Cybersecurity Threats Our systems and our third-party vendors’ systems periodically experience directed attacks intended to lead to (i) interruptions or delays in our operations or (ii) the loss, misuse or theft of personal information and other data, including confidential information or intellectual property. Based on the information available as of the filing date of this Annual Report on Form 10-K, we are not aware of any cybersecurity incidents, directly or indirectly, that have materially affected or are reasonably likely to materially affect our business, results of operations, or financial condition. For more information regarding our risks from cybersecurity threats, see “Risk Factors — Operational Risks — Any failure in our cybersecurity risk management program, as well as the occurrence of events unanticipated in Brighthouse Financial’s or our third-party service providers’ disaster recovery systems and business continuity planning, could result in a loss or disclosure of confidential information, damage to our reputation and impairment of our ability to conduct business effectively” and “Risk Factors —Operational Risks — Any failure to protect the confidentiality of customer, employee, or other third-party information could adversely affect our reputation and have a material adverse effect on our business, financial condition and results of operations.”
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We understand the importance of maintaining a robust cybersecurity risk management program to assess, identify, and manage the material risks associated with cybersecurity threats. Managing Cybersecurity Risks; Cybersecurity Risk Management Strategy Our cybersecurity risk management program is integrated into the Company’s enterprise risk management framework, and our strategy focuses on implementing effective and efficient processes, technologies, and controls to assess, identify, and manage cybersecurity risks. Our cybersecurity risk management program is designed to be aligned with the National Institute of Standards and Technology Cybersecurity Framework (“NIST Framework”), which provides standards, guidelines and best practices on managing cybersecurity risk, as well as the organization, improvement and assessment of the Company’s cybersecurity risk management program.
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]	The Audit Committee of the Board of Directors (the “Audit Committee”) is primarily responsible for overseeing cybersecurity risks, and the Board of Directors is actively engaged with respect to these risks. The Audit Committee and/or the Board of Directors generally meet with our CTO and CISO on a quarterly basis to review our information technology and cybersecurity risk profile and to discuss our activities to manage the related risks, including risk assessments, mitigation strategies, areas of emerging risks, incidents, industry trends, tabletop exercises, and other areas of importance. In addition to these regular meetings, we have an escalation process in place to timely inform the Board of Directors of any significant cybersecurity incidents, including any updates relating thereto, to ensure that the Board of Directors’ oversight is proactive and responsive. Our Chief Compliance Officer also regularly reports to the Audit Committee regarding the Company’s compliance with applicable regulations relating to cybersecurity.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Chief Technology Officer (“CTO”) has overall responsibility for our information technology program, which includes the Company’s cybersecurity risk management program. Our Chief Information Security Officer (“CISO”) is directly responsible for the Company’s cybersecurity risk management program, which is designed to protect and preserve the integrity, confidentiality, and continued availability of the information owned by, or in the care of, the Company.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Chief Technology Officer (“CTO”) has overall responsibility for our information technology program, which includes the Company’s cybersecurity risk management program. Our Chief Information Security Officer (“CISO”) is directly responsible for the Company’s cybersecurity risk management program, which is designed to protect and preserve the integrity, confidentiality, and continued availability of the information owned by, or in the care of, the Company. Our CTO has over 25 years of information technology experience, including systems development, technology strategy, and vendor management; our CISO has over 30 years of information technology and cybersecurity risk management program management experience. Prior to joining Brighthouse Financial, both our CTO and CISO previously served in roles that involved leading and overseeing information technology and cybersecurity risk management programs at other public companies in the financial services industry. In addition, our CTO serves on a cross-departmental, management-level risk committee that oversees the Company’s enterprise risks, including cybersecurity risks. This enterprise-level risk committee is informed about and monitors the prevention, mitigation, detection, and remediation of cybersecurity incidents.
Cybersecurity Risk Role of Management [Text Block]	Our Chief Technology Officer (“CTO”) has overall responsibility for our information technology program, which includes the Company’s cybersecurity risk management program. Our Chief Information Security Officer (“CISO”) is directly responsible for the Company’s cybersecurity risk management program, which is designed to protect and preserve the integrity, confidentiality, and continued availability of the information owned by, or in the care of, the Company. Our CTO has over 25 years of information technology experience, including systems development, technology strategy, and vendor management; our CISO has over 30 years of information technology and cybersecurity risk management program management experience. Prior to joining Brighthouse Financial, both our CTO and CISO previously served in roles that involved leading and overseeing information technology and cybersecurity risk management programs at other public companies in the financial services industry. In addition, our CTO serves on a cross-departmental, management-level risk committee that oversees the Company’s enterprise risks, including cybersecurity risks. This enterprise-level risk committee is informed about and monitors the prevention, mitigation, detection, and remediation of cybersecurity incidents. Our cybersecurity team regularly assesses the threat landscape and takes an enterprise-wide view of cybersecurity risks. We monitor issues that are internally discovered or externally reported that may affect our business, and we employ a range of tools and third-party services to effectuate our cybersecurity risk identification and assessments, including regular network and endpoint monitoring, threat and vulnerability assessments, and external penetration testing. In addition, our cybersecurity team conducts regular reviews, conducts tabletop exercises, performs internal testing, and leverages the audits performed by our internal audit team. We also engage the services of third-party consultants to assess and evaluate the effectiveness of our controls (in alignment with the NIST Framework), to improve our security measures and strategy, and to review our cybersecurity risk management program against the NIST Framework. The results of the most recent assessment of our cybersecurity risk management program confirmed the rigor of our cybersecurity risk management practices. Our cybersecurity team has also established company-wide policies and procedures that cover cybersecurity matters, which are designed to enable us to effectively identify, evaluate, and respond to events that have the potential to impact our business. In the event of a cybersecurity incident, the Company utilizes a well-defined incident response plan that is designed to coordinate the activities we take to prepare for, detect, respond to and recover from cybersecurity incidents, which include processes to triage, assess severity, escalate, contain, investigate, and remediate the incident, as well as to comply with potentially applicable legal obligations (including relevant securities laws) and mitigate brand and reputational damage. This plan includes immediate actions to mitigate the impact of the incident, as well as long-term strategies for the remediation and prevention of future incidents. In accordance with this plan, we have established a cross-departmental Brighthouse Response Team that is responsible for coordinating enterprise-wide responses to cybersecurity incidents. This Brighthouse Response Team provides reports regarding cybersecurity incidents to the enterprise-level risk committee referenced above. Further, employees outside of our information technology organization have a role in our cybersecurity defenses, and we encourage a corporate culture supportive of security, which we believe improves the effectiveness of our cybersecurity risk management program. Through our Security Awareness Program, we provide our employees with regular cybersecurity training and educational resources to help ensure that they remain vigilant against threats. These include frequent simulated phishing campaigns, newsletters, alerts, e-mail reminders, and a mandatory annual cybersecurity awareness training course for all employees. In addition to Company policies that we make available to all employees, our cybersecurity awareness training provides clear reporting and escalation processes in the event of suspicious activity.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our Chief Technology Officer (“CTO”) has overall responsibility for our information technology program, which includes the Company’s cybersecurity risk management program. Our Chief Information Security Officer (“CISO”) is directly responsible for the Company’s cybersecurity risk management program, which is designed to protect and preserve the integrity, confidentiality, and continued availability of the information owned by, or in the care of, the Company.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our CTO has over 25 years of information technology experience, including systems development, technology strategy, and vendor management; our CISO has over 30 years of information technology and cybersecurity risk management program management experience. Prior to joining Brighthouse Financial, both our CTO and CISO previously served in roles that involved leading and overseeing information technology and cybersecurity risk management programs at other public companies in the financial services industry. In addition, our CTO serves on a cross-departmental, management-level risk committee that oversees the Company’s enterprise risks, including cybersecurity risks.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our Chief Technology Officer (“CTO”) has overall responsibility for our information technology program, which includes the Company’s cybersecurity risk management program. Our Chief Information Security Officer (“CISO”) is directly responsible for the Company’s cybersecurity risk management program, which is designed to protect and preserve the integrity, confidentiality, and continued availability of the information owned by, or in the care of, the Company. Our CTO has over 25 years of information technology experience, including systems development, technology strategy, and vendor management; our CISO has over 30 years of information technology and cybersecurity risk management program management experience. Prior to joining Brighthouse Financial, both our CTO and CISO previously served in roles that involved leading and overseeing information technology and cybersecurity risk management programs at other public companies in the financial services industry. In addition, our CTO serves on a cross-departmental, management-level risk committee that oversees the Company’s enterprise risks, including cybersecurity risks. This enterprise-level risk committee is informed about and monitors the prevention, mitigation, detection, and remediation of cybersecurity incidents.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Business, Basis of Presentati_2

Business, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates, Policy [Policy Text Block]	Basis of Presentation The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to adopt accounting policies and make estimates and assumptions that affect amounts reported on the consolidated financial statements. In applying these policies and estimates, management makes subjective and complex judgments that frequently require assumptions about matters that are inherently uncertain. Many of these policies, estimates and related judgments are common in the insurance and financial services industries; others are specific to the Company’s business and operations. Actual results could differ from these estimates.
Consolidation, Policy [Policy Text Block]	Consolidation The accompanying consolidated financial statements include the accounts of Brighthouse Financial, as well as partnerships and limited liability companies (“LLC”) that the Company controls. Intercompany accounts and transactions have been eliminated. The Company uses the equity method of accounting for investments in limited partnerships and LLCs when it has more than a minor ownership interest or more than a minor influence over the investee’s operations. The Company generally recognizes its share of the investee’s earnings on a three-month lag in instances where the investee’s financial information is not sufficiently timely or when the investee’s reporting period differs from the Company’s reporting period. When the Company has virtually no influence over the investee’s operations, the investment is carried at fair value.
Insurance, Long-Duration Contract [Policy Text Block]	Insurance Contract Obligations The Company has obligations under insurance contracts to pay benefits over an extended period of time. The Company establishes liabilities for future obligations under long-duration insurance contracts based on the accounting model appropriate for each type of contract or contract feature. Liabilities for insurance contract benefits are generally accrued over time as revenue is recognized, or established based on the balance that accrues to the contract holder. In addition, certain insurance contracts may contain features that are required to be measured at fair value separately from the base contracts, either as a market risk benefit (“MRB”) or embedded derivative. The discussion below provides an overview of the different accounting models for insurance contract obligations and the applicability of such models to the Company’s insurance products.
Liability for Future Policy Benefit [Policy Text Block]	Liability for Future Policy Benefits The Company establishes a liability for future policy benefits (“LFPB”) for non-participating term and whole life insurance and income annuities. LFPBs are accrued over time as revenue is recognized based on a net premium ratio. The net premium ratio is the portion of gross premiums required to provide for all future benefits. LFPBs are established using the Company’s current assumptions of future cash flows, discounted at a rate that approximates a single A corporate bond curve. The Company generally aggregates insurance contracts into groupings by issue year, product and segment for determining the net premium ratio and related LFPBs. The Company reviews cash flow assumptions regularly, and if they change significantly, LFPBs are adjusted by determining a revised net premium ratio. The revised net premium ratio is calculated as of contract inception using both actual historical experience and updated future cash flow assumptions. The recalculated net premium ratio is applied to derive a remeasurement gain or loss recognized in the current period net income. For insurance policies in-force as of December 31, 2020, January 1, 2021 is considered the contract inception date. The net premium ratio is also updated quarterly for the difference between actual and expected experience. The net premium ratio is not updated for changes in discount rate assumptions, as changes in the discount rate are updated quarterly and the impacts are reflected in other comprehensive income (loss) (“OCI”). The discount rate assumption is determined by developing a yield curve based on market observable yields for upper-medium grade fixed income instruments derived from an external index. The yield curve is applied to the expected future cash flows used in the measurement of LFPBs based on the duration characteristics of those liabilities. The most significant cash flow assumptions used in the establishment of LFPBs are mortality, policy lapses and market interest rates. See Note 3 for more information on the effect of changes in assumptions on the measurement of LFPBs. The Company also establishes an LFPB for participating term and whole life insurance using a net premium ratio and the Company’s current assumptions of future cash flows. Assumptions are determined at issuance of the policy and are not updated unless a premium deficiency exists. A premium deficiency exists when the LFPB plus the present value of expected future gross premiums are less than expected future benefits and expenses (based on current assumptions). When a premium deficiency exists, the Company will reduce any deferred acquisition costs and may also establish an additional liability to eliminate the deficiency. See Note 3 for more information on assumptions used in establishing LFPBs related to participating term and whole life insurance.
Policyholder Accounts, Policy [Policy Text Block]	Policyholder Account Balances The Company establishes a policyholder account balance liability for customer deposits on universal life insurance, universal life insurance with secondary guarantees (“ULSG”) and deferred annuity contracts. The policyholder account balance liability is equal to the sum of deposits, plus interest credited, less charges and withdrawals, excluding the impact of any applicable charge that may be incurred upon surrender. The Company also holds additional liabilities for certain product features including secondary guarantees on universal life insurance contracts and the crediting rates associated with index-linked annuities. Additional Liabilities for ULSG The Company establishes a liability in addition to the account balance for ULSG. These liabilities are determined by estimating the expected value of death benefits payable when the account balance is projected to be zero and recognizing those benefits ratably over the contract period based on total expected assessments. The benefits used in calculating the liabilities are based on the average benefits payable over a range of scenarios. The Company also maintains a liability for profits followed by losses on ULSG determined by projecting future earnings and establishing a liability to offset losses that are expected to occur in later years. Both ULSG liabilities are adjusted for the effects of unrealized investment gains and losses. The Company reviews cash flow assumptions regularly, and, if they change significantly, the liability for secondary guarantees is adjusted by a cumulative charge or credit to net income. Liabilities for secondary guarantees are presented within future policy benefits with changes in the liabilities reported in policyholder benefits and claims, except for the effects of unrealized investment gains and losses, which are reported in OCI. The most significant assumptions used in estimating liabilities for secondary guarantees are the general account rate of return, mortality, premium persistency, lapses and withdrawals. See Note 3 for more information on the effect of changes in assumptions on the measurement of liabilities for secondary guarantees. Separate Accounts Separate accounts underlying the Company’s variable life and annuity contracts are reported at fair value. Assets in separate accounts supporting the contract liabilities are legally insulated from the Company’s general account liabilities. Investments in these separate accounts are directed by the contract holder and all investment performance, net of contract fees and assessments, is passed through to the contract holder. Investment performance and the corresponding amounts credited to contract holders of such separate accounts are offset in the same line on the statements of operations. Separate accounts that do not pass all investment performance to the contract holder, including those underlying certain index-linked annuities, are combined on a line-by-line basis with the Company’s general account assets, liabilities, revenues and expenses. The accounting for investments in these separate accounts is consistent with the methodologies described herein for similar financial instruments held in the general account. The Company receives asset-based distribution and service fees from mutual funds available to the variable life and annuity contract holders as investment options in its separate accounts. These fees are recognized in the period in which the related services are performed and are included in other revenues.
Market Risk Benefit [Policy Text Block]	Market Risk Benefits on Annuity Guarantees MRBs are contracts or contract features that provide protection to the policyholder from capital markets risks by transferring such risks to the Company. MRBs are required to be separated from the deferred annuity host contract and measured at fair value. The Company establishes MRB assets and liabilities for guaranteed minimum benefits on variable annuity contracts including guaranteed minimum death benefits, guaranteed minimum income benefits (“GMIB”), guaranteed minimum accumulation benefits (“GMAB”) and guaranteed minimum withdrawal benefits (“GMWB”). MRB assets are also established for reinsured benefits related to these guarantees. Certain index-linked annuity products may also have guaranteed minimum benefits classified as MRBs. The measurement of fair value includes an adjustment for the risk that the Company fails to satisfy its obligations, which is referred to as nonperformance risk, as well as risk margin to capture the non-capital markets risks of the instrument, which represents the additional compensation a market participant would require to assume the risks related to the uncertainties in certain actuarial assumptions. MRBs are measured at estimated fair value, with changes reported in change in MRBs on the consolidated statements of operations, except for the change due to nonperformance risk, which is reported in OCI. See Note 4 for more information on the effect of changes in inputs and assumptions on the measurement of MRBs and Note 10 for more information on the determination of fair value of MRBs.
Derivatives, Embedded Derivatives [Policy Text Block]	Embedded Derivatives on Index-Linked Annuities The Company issues, and assumes through reinsurance, index-linked annuities which allow the policyholder to participate in returns from certain specified equity indices. The crediting rates associated with these features are classified as embedded derivatives and measured at estimated fair value, with changes in estimated fair value reported in net derivative gains (losses). These embedded derivatives are classified within policyholder account balances on the consolidated balance sheets. Embedded derivative liabilities are required to be separated from the deferred annuity host contract and measured at fair value. The estimated fair value is determined using a combination of an option pricing model and an option-budget approach. Under this approach, the Company estimates the cost of funding the crediting rate using option pricing and establishes that cost on the balance sheet as a reduction to the initial deposit amount. The estimate of fair value includes an adjustment for nonperformance risk, as well as a risk margin. Actuarial assumptions are reviewed at least annually, and if they change significantly, the estimated fair value is adjusted through net income. Capital market inputs used in the measurement of index-linked crediting rate embedded derivatives are updated quarterly through net income. The reduction to the initial deposit is accreted back up to the initial deposit over the estimated life of the contract. Embedded derivatives related to index-linked annuities are presented within policyholder account balances while changes in the estimated fair value are reported in net derivative gains (losses). For more information on the determination of estimated fair value of embedded derivatives, see Note 10.
Insurance Premiums Revenue Recognition, Policy [Policy Text Block]	Recognition of Revenues and Deposits on Insurance Contracts Premiums related to traditional long-duration contracts are recognized as revenues when due from policyholders. When premiums for income annuities are due over a significantly shorter period than the period over which policyholder benefits are incurred, the Company establishes a deferred profit liability (“DPL”) for the excess of the gross premium over the net premium. DPLs are amortized into net income in proportion to the amount of expected future benefit payments. Assumptions used in the measurement of the DPL are updated at the same time as the related LFPBs, with the updated estimates used to recalculate the DPL as of contract inception. The remeasurement gain or loss from updating DPLs is recognized in current period net income along with the related change in LFPBs. Deposits related to universal life insurance, deferred annuity contracts and investment contracts are credited to policyholder account balances. Revenues from such contracts consist of asset-based investment management fees, cost of insurance charges, risk charges, policy administration fees and surrender charges. These fees, which are included in universal life and investment-type product policy fees, are recognized when assessed to the contract holder, except for non-level insurance charges which are deferred by the establishment of an unearned revenue liability and amortized over the expected life of the contracts. Premiums and policy fees are presented net of reinsurance.
Deferred Policy Acquisition Costs, Policy [Policy Text Block]	Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles The Company incurs significant costs in connection with acquiring new and renewal insurance business. Costs that are directly related to the successful acquisition or renewal of insurance contracts are capitalized as deferred policy acquisition costs (“DAC”). These costs mainly consist of commissions and include the portion of employees’ compensation and benefits related to time spent selling, underwriting or processing the issuance of new insurance contracts. All other acquisition-related costs are expensed as incurred. Value of business acquired (“VOBA”) is an intangible asset resulting from a business combination that represents the excess of book value over the estimated fair value of acquired insurance, annuity and investment-type contracts in-force as of the acquisition date. The Company amortizes DAC and VOBA in a manner that approximates a straight-line basis over the expected life of the related contracts. For life insurance contracts, amortization is based on projections of amounts of insurance in-force, while projections of policy counts are used for deferred annuity contracts and expected future benefits payments for income annuities. These assumptions are reviewed at least annually, and if they change significantly, updates are recognized through changes to future amortization. VOBA balances are tested annually to determine if the balance is deemed unrecoverable from expected future profits. All changes in DAC and VOBA balances are recorded to net income. Periodically, the Company modifies product benefits, features, rights or coverages that occur by the exchange of an existing contract for a new contract, or by amendment, endorsement, or rider to a contract, or by election or coverage within a contract. If a modification is considered to have substantially changed the contract, the associated DAC or VOBA is written off immediately through net income and any new acquisition costs associated with the replacement contract are deferred. If the modification does not substantially change the contract, the DAC or VOBA amortization on the original contract will continue and any acquisition costs associated with the related modification are expensed.
Intangible Assets Arising from Insurance Contracts Acquired in Business Combination, Policy [Policy Text Block]	Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles The Company incurs significant costs in connection with acquiring new and renewal insurance business. Costs that are directly related to the successful acquisition or renewal of insurance contracts are capitalized as deferred policy acquisition costs (“DAC”). These costs mainly consist of commissions and include the portion of employees’ compensation and benefits related to time spent selling, underwriting or processing the issuance of new insurance contracts. All other acquisition-related costs are expensed as incurred. Value of business acquired (“VOBA”) is an intangible asset resulting from a business combination that represents the excess of book value over the estimated fair value of acquired insurance, annuity and investment-type contracts in-force as of the acquisition date. The Company amortizes DAC and VOBA in a manner that approximates a straight-line basis over the expected life of the related contracts. For life insurance contracts, amortization is based on projections of amounts of insurance in-force, while projections of policy counts are used for deferred annuity contracts and expected future benefits payments for income annuities. These assumptions are reviewed at least annually, and if they change significantly, updates are recognized through changes to future amortization. VOBA balances are tested annually to determine if the balance is deemed unrecoverable from expected future profits. All changes in DAC and VOBA balances are recorded to net income. Periodically, the Company modifies product benefits, features, rights or coverages that occur by the exchange of an existing contract for a new contract, or by amendment, endorsement, or rider to a contract, or by election or coverage within a contract. If a modification is considered to have substantially changed the contract, the associated DAC or VOBA is written off immediately through net income and any new acquisition costs associated with the replacement contract are deferred. If the modification does not substantially change the contract, the DAC or VOBA amortization on the original contract will continue and any acquisition costs associated with the related modification are expensed.
Sales Inducements to Contract Holders, Policy [Policy Text Block]	The Company also has intangible assets representing deferred sales inducements (“DSI”), which are included in other assets, and unearned revenue liabilities, which are included in other policy-related balances. The Company defers sales inducements and unearned revenue and amortizes the balances using the same methodology and assumptions used to amortize DAC and VOBA.
Reinsurance Accounting Policy [Policy Text Block]	Reinsurance The Company enters into reinsurance arrangements pursuant to which it cedes certain insurance risks to unaffiliated reinsurers. Cessions under reinsurance agreements do not discharge the Company’s obligations as the primary insurer. The accounting for reinsurance arrangements depends on whether the arrangement provides indemnification against loss or liability relating to insurance risk in accordance with GAAP. For ceded reinsurance of existing in-force blocks of insurance contracts that transfer significant insurance risk, premiums, benefits and the amortization of DAC are reported net of reinsurance ceded. Amounts recoverable from reinsurers related to incurred claims and ceded reserves are included in premiums, reinsurance and other receivables and amounts payable to reinsurers included in other liabilities. If the Company determines that a reinsurance agreement does not expose the reinsurer to a reasonable possibility of a significant loss from insurance risk, the Company records the agreement using the deposit method of accounting. Deposits received are included in other liabilities and deposits made are included in premiums, reinsurance and other receivables. As amounts are paid or received, consistent with the underlying contracts, the deposit assets or liabilities are adjusted. Interest on such deposits is recorded as other revenues or other expenses, as appropriate. The funds withheld liability represents amounts withheld by the Company in accordance with the terms of the reinsurance agreements. Under certain reinsurance agreements, the Company withholds the funds rather than transferring the underlying investments and, as a result, records a funds withheld liability in other liabilities. The Company recognizes interest on funds withheld, included in other expenses, at rates defined by the terms of the agreement which may be contractually specified or directly related to the investment portfolio. Certain funds withheld arrangements may also contain embedded derivatives measured at fair value that are related to the investment return on the assets withheld. Embedded derivatives related to funds withheld arrangements are presented within policyholder account balances on the consolidated balance sheets, with changes in the estimated fair value reported in net derivative gains (losses). Reinsurance arrangements may also contain features classified as MRBs, including reinsurance of guaranteed minimum benefits associated with variable annuity contracts. The Company accounts for assumed reinsurance similar to directly written business. Accounting for reinsurance requires extensive use of assumptions and estimates, particularly related to the future performance of the underlying business and the potential impact of counterparty credit risks. The Company periodically reviews actual and anticipated experience compared to the aforementioned assumptions used to establish assets and liabilities relating to ceded and assumed reinsurance and evaluates the financial strength of counterparties to its reinsurance agreements using criteria similar to that evaluated in the security impairment process discussed in Note 8.
Investments, Policy [Policy Text Block]	Investments Net Investment Income and Net Investment Gains (Losses) Income from investments is reported in net investment income, unless otherwise stated herein. Gains and losses on sales of investments, impairment losses and changes in valuation allowances are reported in net investment gains (losses), unless otherwise stated herein. Fixed Maturity Securities Available-For-Sale The Company’s fixed maturity securities are classified as available-for-sale and are reported at their estimated fair value. Unrealized investment gains and losses on these securities are recorded as a separate component of OCI, net of policy-related amounts and deferred income taxes. Publicly-traded security transactions are recorded on a trade date basis, while privately-placed and bank loan security transactions are recorded on a settlement date basis. Investment gains and losses on sales are determined on a specific identification basis. Interest income and prepayment fees are recognized when earned. Interest income is recognized using an effective yield method giving effect to amortization of premiums and accretion of discounts and is based on the estimated economic life of the securities, which for residential mortgage-backed securities (“RMBS”), commercial mortgage-backed securities (“CMBS”) and asset-backed securities (“ABS”) (collectively, “Structured Securities”) considers the estimated timing and amount of prepayments of the underlying loans. The amortization of premium and accretion of discount of fixed maturity securities also takes into consideration call and maturity dates. Amortization of premium and accretion of discount on Structured Securities considers the estimated timing and amount of prepayments of the underlying loans. Actual prepayment experience is periodically reviewed, and effective yields are recalculated when differences arise between the originally anticipated and the actual prepayments received and currently anticipated. Prepayment assumptions for Structured Securities are estimated using inputs obtained from third-party specialists and based on management’s knowledge of the current market. For credit-sensitive Structured Securities and certain prepayment-sensitive securities, the effective yield is recalculated on a prospective basis. For all other Structured Securities, the effective yield is recalculated on a retrospective basis. The Company regularly evaluates fixed maturity securities for declines in fair value to determine if a credit loss exists. This evaluation is based on management’s case-by-case evaluation of the underlying reasons for the decline in fair value including, but not limited to, an analysis of the gross unrealized losses by severity and financial condition of the issuer. For fixed maturity securities in an unrealized loss position, when the Company has the intent to sell the security, or it is more likely than not that the Company will be required to sell the security before recovery, the amortized cost basis of the security is written down to fair value through net investment gains (losses). For fixed maturity securities that do not meet the aforementioned criteria, management evaluates whether the decline in estimated fair value has resulted from credit losses or other factors. If the Company determines the decline in estimated fair value is due to credit losses, the difference between the amortized cost of the security and the present value of projected future cash flows expected to be collected is recognized as an allowance through net investment gains (losses). If the estimated fair value is less than the present value of projected future cash flows expected to be collected, this portion of the allowance related to other-than-credit factors is recorded in OCI. Once a security specific allowance for credit losses is established, the present value of cash flows expected to be collected from the security continues to be reassessed. Any changes in the security specific allowance for credit losses are recorded as a provision for (or reversal of) credit loss expense in net investment gains (losses). Fixed maturity securities are also evaluated to determine whether any amounts have become uncollectible. When all, or a portion, of a security is deemed uncollectible, the uncollectible portion is written-off with an adjustment to amortized cost and a corresponding reduction to the allowance for credit losses. Mortgage Loans Mortgage loans are stated at unpaid principal balance, adjusted for any unamortized premium or discount, and any deferred fees or expenses, and net of an allowance for credit losses. Interest income and prepayment fees are recognized when earned. Interest income is recognized using an effective yield method giving effect to amortization of premiums and accretion of discounts. The allowance for credit losses for mortgage loans represents the Company’s best estimate of expected credit losses over the remaining life of the loans and is determined using relevant available information from internal and external sources, relating to past events, current conditions, and a reasonable and supportable forecast. Policy Loans Policy loans are stated at unpaid principal balances. Interest income is recorded as earned using the contractual interest rate. Generally, accrued interest is capitalized on the policy’s anniversary date. Any unpaid principal and accrued interest is deducted from the cash surrender value or the death benefit prior to settlement of the insurance policy. Limited Partnerships and LLCs The Company uses the equity method of accounting for investments when it has more than a minor ownership interest or more than a minor influence over the investee’s operations; when the Company has virtually no influence over the investee’s operations the investment is carried at estimated fair value. The Company generally recognizes its share of the equity method investee’s earnings on a three-month lag in instances where the investee’s financial information is not sufficiently timely or when the investee’s reporting period differs from the Company’s reporting period; while distributions on investments carried at estimated fair value are recognized as earned or received. Short-term Investments Short-term investments include securities and other investments with remaining maturities of one year or less, but greater than three months, at the time of purchase and are stated at estimated fair value or amortized cost, which approximates estimated fair value. The Company’s short-term investments generally involve large dollar amounts that turn over quickly and have short maturities. For the years ended December 31, 2024, 2023 and 2022, cash proceeds from sales, maturities and repayments of short-term investments were $3.3 billion, $4.2 billion and $4.9 billion, respectively. For the years ended December 31, 2024, 2023 and 2022, cash payments on purchases of short-term investments were $4.0 billion, $4.2 billion and $4.1 billion, respectively. Other Invested Assets Other invested assets consist principally of freestanding derivatives with positive estimated fair values which are described in “— Derivatives” below. Securities Lending Program Securities lending transactions whereby blocks of securities are loaned to third parties, primarily brokerage firms and commercial banks, are treated as financing arrangements and the associated liability is recorded at the amount of cash received. Income and expenses associated with securities lending transactions are reported as investment income and investment expense, respectively, in net investment income. The Company obtains collateral at the inception of the loan, usually cash, in an amount generally equal to 102% of the estimated fair value of the securities loaned and maintains it at a level greater than or equal to 100% for the duration of the loan. The Company monitors the estimated fair value of the securities loaned on a daily basis and additional collateral is obtained as necessary throughout the duration of the loan. Securities loaned under such transactions may be sold or re-pledged by the transferee. The Company is liable to return to the counterparties the cash collateral received. Funding Agreements The Company established liabilities for funding agreements associated with the Company’s institutional spread margin business, which are equal to the unpaid principal balance, adjusted for any unamortized premium or discount. Liabilities related to funding agreements are reported in policyholder account balances. Maturities of Fixed Maturity Securities Actual maturities may differ from contractual maturities due to the exercise of call or prepayment options. Fixed maturity securities not due at a single maturity date have been presented in the year of final contractual maturity. Structured Securities are shown separately, as they are not due at a single maturity. For fixed maturity securities in an unrealized loss position, management first assesses whether the Company intends to sell, or whether it is more likely than not it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to estimated fair value through net investment gains (losses). For fixed maturity securities that do not meet the aforementioned criteria, management evaluates whether the decline in estimated fair value has resulted from credit losses or other factors. Inherent in management’s evaluation of the security are assumptions and estimates about the operations of the issuer and its future earnings potential. Considerations used in the allowance for credit loss evaluation process include, but are not limited to: (i) the extent to which estimated fair value is less than amortized cost; (ii) any changes to the rating of the security by a rating agency; (iii) adverse conditions specifically related to the security, industry or geographic area; and (iv) payment structure of the fixed maturity security and the likelihood of the issuer being able to make payments in the future or the issuer’s failure to make scheduled interest and principal payments. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss is deemed to exist and an allowance for credit losses is recorded, limited by the amount that the estimated fair value is less than the amortized cost basis, with a corresponding charge to net investment gains (losses). Any unrealized losses that have not been recorded through an allowance for credit losses are recognized in OCI. Once a security specific allowance for credit losses is established, the present value of cash flows expected to be collected from the security continues to be reassessed. Any changes in the security specific allowance for credit losses are recorded as a provision for (or reversal of) credit loss expense in net investment gains (losses). Fixed maturity securities are also evaluated to determine whether any amounts have become uncollectible. When all, or a portion, of a security is deemed uncollectible, the uncollectible portion is written-off with an adjustment to amortized cost and a corresponding reduction to the allowance for credit losses. Fixed maturity securities are also evaluated to determine if they qualify as purchased financial assets with credit deterioration (“PCD”). To determine if the credit deterioration experienced since origination is more than insignificant, both (i) the extent of the credit deterioration and (ii) any rating agency downgrades are evaluated. For securities categorized as PCD assets, the present value of cash flows expected to be collected from the security are compared to the par value of the security. If the present value of cash flows expected to be collected is less than the par value, credit losses are embedded in the purchase price of the PCD asset. In this situation, both an allowance for credit losses and amortized cost gross-up is recorded, limited by the amount that the estimated fair value is less than the grossed-up amortized cost basis. Any difference between the purchase price and the present value of cash flows is amortized or accreted into net investment income over the life of the PCD asset. Any subsequent PCD asset allowance for credit losses is evaluated in a manner similar to the process described above for fixed maturity securities. The allowance for credit losses is a valuation account that is deducted from the mortgage loan’s amortized cost basis to present the net amount expected to be collected on the mortgage loan. The loan balance, or a portion of the loan balance, is written-off against the allowance when management believes this amount is uncollectible. The allowance for credit losses is estimated using relevant available information, from internal and external sources, relating to past events, current conditions, and a reasonable and supportable forecast. Historical credit loss experience provides the basis for estimating expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics and environmental conditions. A reasonable and supportable forecast period of two years is used with an input reversion period of one year. Mortgage loans are evaluated in each of the three portfolio segments to determine the allowance for credit losses. The loan-level loss rates are determined using individual loan terms and characteristics, risk pools/internal ratings, national economic forecasts, prepayment speeds, and estimated default and loss severity. The resulting loss rates are applied to the mortgage loan’s amortized cost to generate an allowance for credit losses. In certain situations, the allowance for credit losses is measured as the difference between the loan’s amortized cost and liquidation value of the collateral. These situations include collateral dependent loans, modifications, foreclosure probable loans, and loans with dissimilar risk characteristics. Mortgage loans are also evaluated to determine if they qualify as PCD assets. To determine if the credit deterioration experienced since origination is more than insignificant, the extent of credit deterioration is evaluated. All re-performing/modified loan (“RPL”) pools purchased after December 31, 2019 are determined to have been acquired with evidence of more than insignificant credit deterioration since origination and are classified as PCD assets. RPLs are pools of residential mortgage loans acquired at a discount or premium which have both credit and non-credit components. For PCD mortgage loans, the allowance for credit losses is determined using a similar methodology described above, except the loss-rate is determined at the pool level instead of the individual loan level. The initial allowance for credit losses, determined on a collective basis, is then allocated to the individual loans. The initial amortized cost of the loan is grossed-up to reflect the sum of the loan’s purchase price and allowance for credit losses. The difference between the grossed-up amortized cost basis and the par value of the loan is a non-credit discount or premium, which is accreted or amortized into net investment income over the remaining life of the loan. Any subsequent PCD mortgage loan allowance for credit losses is evaluated in a manner similar to the process described above for each of the three portfolio segments. Mortgage loans are placed in a nonaccrual status if there are concerns regarding collectability of future payments or the loan is past due, unless the past due loan is well collateralized.
Derivatives, Policy [Policy Text Block]	Derivatives Freestanding Derivatives Freestanding derivatives are carried at estimated fair value on the Company’s balance sheet either as assets in other invested assets or as liabilities in other liabilities. The Company does not offset the estimated fair value amounts recognized for derivatives executed with the same counterparty under the same master netting agreement. If a derivative is not designated or did not qualify as an accounting hedge, changes in the estimated fair value of the derivative are reported in net derivative gains (losses). The Company generally reports cash received or paid for a derivative in the investing activity section of the statement of cash flows except for cash flows of certain derivative options with deferred premiums, which are reported in the financing activity section of the statement of cash flows. Hedge Accounting The Company primarily designates derivatives as a hedge of a forecasted transaction or a variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge). When a derivative is designated as a cash flow hedge and is determined to be highly effective, changes in fair value are recorded in OCI and subsequently reclassified into the statement of operations when the Company’s earnings are affected by the variability in cash flows of the hedged item. To qualify for hedge accounting, at the inception of the hedging relationship, the Company formally documents its risk management objective and strategy for undertaking the hedging transaction, as well as its designation of the hedge. In its hedge documentation, the Company sets forth how the hedging instrument is expected to hedge the designated risks related to the hedged item and sets forth the method that will be used to retrospectively and prospectively assess the hedging instrument’s effectiveness. 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 at least quarterly throughout the life of the designated hedging relationship. The Company discontinues hedge accounting prospectively when: (i) it is determined that the derivative is no longer highly effective in offsetting changes in the estimated fair value or cash flows of a hedged item; (ii) the derivative or hedged item expires, is sold, terminated, or exercised; (iii) it is no longer probable that the hedged forecasted transaction will occur; or (iv) the derivative is de-designated as a hedging instrument. When hedge accounting is discontinued the derivative is carried at its estimated fair value on the balance sheet, with changes in its estimated fair value recognized in the current period as net derivative gains (losses). The changes in estimated fair value of derivatives previously recorded in OCI related to discontinued cash flow hedges are released into the statement of operations when the Company’s earnings are affected by the variability in cash flows of the hedged item. When the hedged item matures or is sold, or the forecasted transaction is not probable of occurring, the Company immediately reclassifies any remaining balances in OCI to net derivative gains (losses). Embedded Derivatives The Company has index-linked annuities that are directly written or assumed through reinsurance contracts that contain embedded derivatives which are required to be separated from their host contracts and reported as derivatives. Certain funds withheld arrangements associated with reinsurance may also contain embedded derivatives. See “— Insurance Contract Obligations” and “— Reinsurance” for additional information on the accounting policies for embedded derivatives. Accounting for Derivatives See Note 1 for a description of the Company’s accounting policies for derivatives and Note 10 for information about the fair value hierarchy for derivatives. Derivative Strategies Derivatives are financial instruments with values derived from interest rates, foreign currency exchange rates, credit spreads and/or other financial indices. Derivatives may be exchange-traded or contracted in the over-the-counter (“OTC”) market. Certain of the Company’s OTC derivatives are cleared and settled through central clearing counterparties (“OTC-cleared”), while others are bilateral contracts between two counterparties (“OTC-bilateral”). Counterparty Credit Risk The Company may be exposed to credit-related losses in the event of counterparty nonperformance on derivative instruments. Generally, the credit exposure is the fair value at the reporting date less any collateral received from the counterparty.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. In most cases, the exit price and the transaction (or entry) price will be the same at initial recognition. In determining the estimated fair value of the Company’s investments, fair values are based on unadjusted quoted prices for identical investments in active markets that are readily and regularly obtainable. When such quoted prices are not available, fair values are based on quoted prices in markets that are not active, quoted prices for similar but not identical investments, or other observable inputs. If these inputs are not available, or observable inputs are not determinable, unobservable inputs and/or adjustments to observable inputs requiring management judgment are used to determine the estimated fair value of investments. When developing estimated fair values, the Company considers three broad valuation techniques: (i) the market approach, (ii) the income approach, and (iii) the cost approach. The Company determines the most appropriate valuation technique to use, given what is being measured and the availability of sufficient inputs, giving priority to observable inputs. The Company categorizes its assets and liabilities measured at estimated fair value into a three-level hierarchy, based on the significant input with the lowest level in its valuation. The input levels are as follows: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities. The Company defines active markets based on average trading volume for equity securities. The size of the bid/ask spread is used as an indicator of market activity for fixed maturity securities. Level 2 Quoted prices in markets that are not active or inputs that are observable either directly or indirectly. These inputs can include quoted prices for similar assets or liabilities other than quoted prices in Level 1, quoted prices in markets that are not active, or other significant inputs that are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Unobservable inputs that are supported by little or no market activity and are significant to the determination of estimated fair value of the assets or liabilities. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the asset or liability.
Income Tax, Policy [Policy Text Block]	Income Tax The Company’s income tax provision was prepared following the modified separate return method. The modified separate return method applies the Accounting Standards Codification 740 — Income Taxes (“ASC 740”) to the standalone financial statements of each member of the consolidated group as if the member were a separate taxpayer and a standalone enterprise, after providing benefits for losses. The Company’s accounting for income taxes represents management’s best estimate of various events and transactions. Current and deferred income taxes included herein and attributable to periods up until the Company’s separation from MetLife (“Separation”) have been allocated to the Company in a manner that is systematic, rational and consistent with the asset and liability method prescribed by ASC 740. Deferred tax assets and liabilities resulting from temporary differences between the financial reporting and tax bases of assets and liabilities are measured at the balance sheet date using enacted tax rates expected to apply to taxable income in the years the temporary differences are expected to reverse. The realization of deferred tax assets depends upon the existence of sufficient taxable income within the carryback or carryforward periods under the tax law in the applicable tax jurisdiction. Valuation allowances are established when management determines, based on available information, that it is more likely than not that deferred income tax assets will not be realized. Significant judgment is required in determining whether valuation allowances should be established, as well as the amount of such allowances. When making such determination, the Company considers many factors, including the jurisdiction in which the deferred tax asset was generated, the length of time that carryforward can be utilized in the various taxing jurisdictions, future taxable income exclusive of reversing temporary differences and carryforwards, future reversals of existing taxable temporary differences, taxable income in prior carryback years, tax planning strategies and the nature, frequency, and amount of cumulative financial reporting income and losses in recent years. The Inflation Reduction Act, which was enacted in 2022, established a 15% corporate alternative minimum tax (“CAMT”) for corporations whose average annual adjusted financial statement income for any consecutive three–tax year period ending after December 31, 2021, and preceding the tax year exceeds $1.0 billion. The Company elects not to consider any future effects resulting from applicability of the CAMT when assessing the valuation allowance for regular deferred tax assets. The Company may be required to change its provision for income taxes when estimates used in determining valuation allowances on deferred tax assets significantly change or when receipt of new information indicates the need for adjustment in valuation allowances. Additionally, the effect of changes in tax laws, tax regulations, or interpretations of such laws or regulations, is recognized in net income tax expense (benefit) in the period of change. The Company determines whether it is more likely than not that a tax position will be sustained upon examination by the appropriate taxing authorities before any part of the benefit can be recorded on the financial statements. A tax position is measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement. Unrecognized tax benefits due to tax uncertainties that do not meet the threshold are included in other liabilities and are charged to earnings in the period that such determination is made. The Company classifies interest recognized as interest expense and penalties recognized as a component of income tax expense. The effects of income taxes on amounts recorded to AOCI are also recognized in AOCI. These income tax effects are released from AOCI when the related activity is reclassified into results from operations.
Commitments and Contingencies, Policy [Policy Text Block]	Litigation and Other Loss Contingencies The Company is a party to or involved in a number of legal disputes, including litigation matters, as well as disputes or other matters involving third parties (e.g., vendors, reinsurers or tax or other authorities), and are subject in the ordinary course to a number of regulatory examinations and investigations. The Company reviews relevant information with respect to litigation and other loss contingencies related to these matters and establishes liabilities when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. Legal costs are recognized as incurred. In matters where it is not probable, but it is reasonably possible that a loss will be incurred and the amount of loss can be reasonably estimated, such losses or range of losses are disclosed, and no accrual is made. In the absence of sufficient information to support an assessment of a reasonably possible loss or range of loss, no accrual is made and no loss or range of loss is disclosed.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents The Company considers all highly liquid securities and other investments purchased with an original or remaining maturity of three months or less at the date of purchase to be cash equivalents. Cash equivalents are stated at estimated fair value or amortized cost, which approximates estimated fair value.
Pension and Other Postretirement Plans, Policy [Policy Text Block]	Employee Benefit Plans Brighthouse Services, LLC (“Brighthouse Services”) sponsors qualified and non-qualified defined contribution plans, and New England Life Insurance Company (“NELICO”) sponsors certain frozen defined benefit pension and postretirement plans. NELICO recognizes the funded status of each of its pension plans, measured as the difference between the fair value of plan assets and the benefit obligation, which is the projected benefit obligation (“PBO”) for pension benefits in other assets or other liabilities. Brighthouse Services and NELICO are both indirect wholly-owned subsidiaries. Actuarial gains and losses result from differences between the actual experience and the assumed experience on plan assets or PBO during a particular period and are recorded in accumulated other comprehensive income (loss) (“AOCI”). To the extent such gains and losses exceed 10% of the greater of the PBO or the estimated fair value of plan assets, the excess is amortized into net periodic benefit costs over the average projected future lifetime of all plan participants or projected future working lifetime, as appropriate. Prior service costs (credit) are recognized in AOCI at the time of the amendment and then amortized into net periodic benefit costs over the average projected future lifetime of all plan participants or projected future working lifetime, as appropriate. Net periodic benefit costs are determined using management estimates and actuarial assumptions; and are comprised of service cost, interest cost, expected return on plan assets, amortization of net actuarial (gains) losses, settlement and curtailment costs, and amortization of prior service costs (credit).
New Accounting Pronouncements, Policy [Policy Text Block]	Adoption of New Accounting Pronouncements Changes to GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of accounting standards updates (“ASU”) to the FASB Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. Except as noted below, there were no significant ASUs adopted during the year ended December 31, 2024. In November 2023, the FASB issued new guidance on Segment Reporting Disclosures (ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”) ). This ASU updates reportable segment disclosures primarily through enhanced disclosures about significant segment expenses. This ASU does not change how a company identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. The Company adopted this guidance during fiscal year 2024 on a retrospective basis. Future Adoption of New Accounting Pronouncements In November 2024, the FASB issued new guidance on income statement expense disclosures (ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40 ): Disaggregation of Income Statement Expenses). This ASU requires public companies to disclose additional disaggregated information about expenses in the notes to financial statements at each interim and annual reporting period. This ASU is effective for fiscal years starting January 1, 2027, and for interim periods starting January 1, 2028. This ASU is required to be adopted prospectively with the option of retrospective application. The Company is currently evaluating the impact of this guidance on its financial statements. In December 2023, the FASB issued new guidance on Income Tax Disclosures (ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ). This ASU updates the required income tax disclosures to include disclosure of income taxes paid disaggregated by jurisdiction and greater disaggregation of information in the required rate reconciliation. This ASU is effective for fiscal years starting January 1, 2025, and will be applied on a prospective basis. The Company is currently evaluating the impact of this guidance on its financial statements.
Minimum Guarantees, Policy [Policy Text Block]	Embedded Derivatives Embedded derivatives include crediting rates associated with index-linked annuity contracts. Embedded derivatives are recorded at estimated fair value with changes in estimated fair value reported in net income. The crediting rates associated with these features are embedded derivatives which are measured at estimated fair value separately from the host fixed annuity contract. These embedded derivatives are classified within policyholder account balances on the consolidated balance sheets. The estimated fair value of crediting rates associated with index-linked annuities is determined using a combination of an option pricing model and an option-budget approach. The valuation of these embedded derivatives also includes the establishment of a risk margin, as well as changes in nonperformance risk. Actuarial assumptions including policyholder behavior and expectations for renewals at the end of the term period are reviewed at least annually, and if they change significantly, the estimated fair value is adjusted through net income. Capital market inputs used in the measurement of crediting rate embedded derivatives are updated quarterly through net income.
Share-based Payment Arrangement [Policy Text Block]	The Company’s share-based compensation plans provide awards to employees and non-employee directors and may be in the form of non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units (“RSU”), performance shares, performance share units (“PSU”), or other share-based awards. Additionally, employees may purchase shares at a discount under an employee stock purchase plan (the “ESPP”). Restricted Stock Units RSUs are units that, if vested, are payable in shares of BHF common stock. The Company does not credit RSUs with dividend-equivalents as RSUs do not accrue dividends. Accordingly, the estimated fair value of RSUs is based upon the closing price of shares on the date of grant. Most RSUs use graded vesting and vest in thirds on, or shortly after, the first three anniversaries of their grant date, while other RSUs vest in their entirety on the specified anniversary of their grant date. Vesting is subject to continued service, except for employees who meet specified age and service criteria, and in certain other limited circumstances. Performance Share Units PSUs are units that, if vested, are multiplied by a performance factor to produce a final number of BHF common stock shares. PSUs cliff vest at the end of a three-year performance period. Vesting is subject to continued service, except for employees who meet specified age and service criteria, and in certain other limited circumstances. For awards granted during fiscal years 2022 and 2023, the performance factors are based on the achievement of net cash flow to BHF, Brighthouse Services, LLC and Brighthouse Holdings, LLC (“BH Holdings”) and statutory expense ratio targets over the respective performance period depending on the year of issue. The vested PSUs will be multiplied by a performance factor up to a maximum payout of 150%. Assuming the Company has met certain threshold performance targets, the Compensation and Human Capital Committee of BHF’s Board of Directors will determine the final performance factor at its discretion. Stock options represent the contingent right of award holders to purchase shares of BHF common stock at a stated price for a limited time. All stock options have an exercise price equal to the closing price of a share on the date of grant and have a maximum term of ten years. Stock options granted are exercisable at a rate of one-third of each award on each of the first three anniversaries of the grant date. Vesting is subject to continued service, except for employees who meet specified age and service criteria, and in certain other limited circumstances.

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Reporting Information, by Segment	The tables below provide information about the Company’s segments, including significant segment expenses, and reconciliations to Net income (loss) available to common shareholders. Year Ended December 31, 2024 Annuities Life Run-off Corporate & Other Total (In millions) Total revenues $ 1,932 $ 1,113 $ 996 $ 683 $ 4,724 Less: Revenues excluded from adjusted earnings (1) (3,350) (22) (599) (23) Less: Segment expenses: Policyholder benefits and claims 479 710 1,105 — Interest credited to policyholder account balances, excluding market value adjustments 1,351 105 243 450 Amortization of DAC and VOBA 505 94 — — Interest expense on debt — — — 152 Other expenses (2) 1,399 188 166 41 Less: Provision for income tax expense (benefit) 297 5 16 (14) Less: Net income (loss) attributable to noncontrolling interests — — — 5 Less: Preferred stock dividends — — — 102 Adjusted earnings (loss) $ 1,251 $ 33 $ 65 $ (30) 1,319 Adjustments for: Net investment gains (losses) (295) Net derivative gains (losses), excluding investment hedge adjustments of $31 (3,699) Change in market risk benefits 2,673 Market value adjustments 13 Provision for income tax (expense) benefit 275 Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders $ 286 Interest revenue $ 2,859 $ 466 $ 1,234 $ 694 Year Ended December 31, 2023 Annuities Life Run-off Corporate & Other Total (In millions) Total revenues $ 944 $ 1,199 $ 1,405 $ 569 $ 4,117 Less: Revenues excluded from adjusted earnings (1) (3,934) (30) (238) (56) Less: Segment expenses: Policyholder benefits and claims 480 894 1,302 — Interest credited to policyholder account balances, excluding market value adjustments 1,054 97 274 388 Amortization of DAC and VOBA 516 104 — — Interest expense on debt — — — 153 Other expenses (2) 1,391 203 167 63 Less: Provision for income tax expense (benefit) 268 (16) (23) (16) Less: Net income (loss) attributable to noncontrolling interests — — — 5 Less: Preferred stock dividends — — — 102 Adjusted earnings (loss) $ 1,169 $ (53) $ (77) $ (70) 969 Adjustments for: Net investment gains (losses) (246) Net derivative gains (losses), excluding investment hedge adjustments of $105 (4,012) Change in market risk benefits 1,507 Market value adjustments (12) Provision for income tax (expense) benefit 580 Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders $ (1,214) Interest revenue $ 2,568 $ 437 $ 1,141 $ 623 Year Ended December 31, 2022 Annuities Life Run-off Corporate & Other Total (In millions) Total revenues $ 5,492 $ 1,182 $ (196) $ 395 $ 6,873 Less: Revenues excluded from adjusted earnings (1) 966 (31) (1,901) 55 Less: Segment expenses: Policyholder benefits and claims 380 800 1,013 — Interest credited to policyholder account balances, excluding market value adjustments 897 75 290 163 Amortization of DAC and VOBA 515 114 — — Interest expense on debt — — — 153 Other expenses (2) 1,417 130 293 92 Less: Provision for income tax expense (benefit) 247 16 22 (126) Less: Net income (loss) attributable to noncontrolling interests — — — 5 Less: Preferred stock dividends — — — 104 Adjusted earnings (loss) $ 1,070 $ 78 $ 87 $ (51) 1,184 Adjustments for: Net investment gains (losses) (248) Net derivative gains (losses), excluding investment hedge adjustments of $71 (663) Change in market risk benefits 4,104 Market value adjustments 87 Provision for income tax (expense) benefit (689) Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders $ 3,775 Interest revenue $ 2,261 $ 442 $ 1,166 $ 340 _______________ (1) For each reportable segment, certain revenues are excluded from adjusted earnings (loss), including net investment gains (losses) and net derivative gains (losses), excluding investment hedge adjustments. (2) Other expenses include corporate expense allocations directly attributable to each of the segments. Total assets by segment were as follows at: December 31, 2024 2023 (In millions) Annuities $ 163,830 $ 160,775 Life 26,261 25,504 Run-off 24,873 26,828 Corporate & Other 23,573 23,233 Total $ 238,537 $ 236,340
Premiums, Universal Life and Investment-Type Product Policy Fees and Other Revenues by Product Groups	Total premiums, universal life and investment-type product policy fees and other revenues by major product group were as follows: Years Ended December 31, 2024 2023 2022 (In millions) Annuity products $ 2,426 $ 2,319 $ 2,268 Life insurance products 1,018 1,280 1,298 Other products 21 7 9 Total $ 3,465 $ 3,606 $ 3,575

Insurance Liabilities (Tables)

Insurance Liabilities (Tables)	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
Schedule of Liability for Future Policy Benefits, by Product Segment	Information regarding LFPBs for non-participating traditional and limited-payment contracts was as follows: Years Ended December 31, 2024 2023 2022 Term and Whole Life Insurance Income Annuities Structured Settlement and Pension Risk Transfer Annuities Term and Whole Life Insurance Income Annuities Structured Settlement and Pension Risk Transfer Annuities Term and Whole Life Insurance Income Annuities Structured Settlement and Pension Risk Transfer Annuities (Dollars in millions) Present value of expected net premiums: Balance, beginning of year $ 2,974 $ — $ — $ 2,871 $ — $ — $ 3,325 $ — $ — Beginning balance at original discount rate 3,234 — — 3,212 — — 3,051 — — Effect of model refinements 4 — — — — — 122 — — Effect of changes in cash flow assumptions 128 — — 215 — — 137 — — Effect of actual variances from expected experience 7 — — (14) — — 119 — — Adjusted beginning of year balance 3,373 — — 3,413 — — 3,429 — — Issuances 67 — — 93 — — 93 — — Interest accrual 113 — — 112 — — 116 — — Net premiums collected (392) — — (384) — — (426) — — Ending balance at original discount rate 3,161 — — 3,234 — — 3,212 — — Effect of changes in discount rate assumptions (353) — — (260) — — (341) — — Balance, end of year $ 2,808 $ — $ — $ 2,974 $ — $ — $ 2,871 $ — $ — Present value of expected future policy benefits: Balance, beginning of year $ 5,507 $ 3,754 $ 6,697 $ 5,279 $ 3,512 $ 6,793 $ 6,426 $ 4,333 $ 10,171 Beginning balance at original discount rate 6,023 4,031 7,085 5,922 3,897 7,410 5,820 3,865 8,165 Effect of model refinements 10 — — — — — 135 — (278) Effect of changes in cash flow assumptions 208 (23) 82 309 — — 157 56 (157) Effect of actual variances from expected experience (9) — (10) (15) (34) (47) 155 (22) (23) Adjusted beginning of year balance 6,232 4,008 7,157 6,216 3,863 7,363 6,267 3,899 7,707 Issuances 72 403 — 99 374 — 101 224 — Interest accrual 219 150 305 217 140 314 222 146 327 Benefit payments (534) (400) (586) (509) (346) (592) (668) (372) (624) Ending balance at original discount rate 5,989 4,161 6,876 6,023 4,031 7,085 5,922 3,897 7,410 Effect of changes in discount rate assumptions (664) (398) (758) (516) (277) (388) (643) (385) (617) Balance, end of year $ 5,325 $ 3,763 $ 6,118 $ 5,507 $ 3,754 $ 6,697 $ 5,279 $ 3,512 $ 6,793 Net liability for future policy benefits, end of year $ 2,517 $ 3,763 $ 6,118 $ 2,533 $ 3,754 $ 6,697 $ 2,408 $ 3,512 $ 6,793 Less: Reinsurance recoverable, end of year 29 31 59 42 31 65 45 24 68 Net liability for future policy benefits, after reinsurance recoverable $ 2,488 $ 3,732 $ 6,059 $ 2,491 $ 3,723 $ 6,632 $ 2,363 $ 3,488 $ 6,725 Weighted-average duration of liability 7.6 years 7.9 years 11.6 years 8.7 years 8.2 years 11.6 years 8.4 years 8.5 years 11.6 years Weighted-average interest accretion rate 3.94 % 4.03 % 4.46 % 3.94 % 3.97 % 4.46 % 3.97 % 3.87 % 4.45 % Current discount rate 5.42 % 5.47 % 5.64 % 4.94 % 4.95 % 5.03 % 5.26 % 5.27 % 5.32 % Gross premiums or assessments recognized during period $ 575 $ 499 $ — $ 611 $ 488 $ — $ 639 $ 257 $ — Expected future gross premiums, undiscounted $ 5,909 $ — $ — $ 6,172 $ — $ — $ 6,734 $ — $ — Expected future gross premiums, discounted $ 4,352 $ — $ — $ 4,642 $ — $ — $ 4,991 $ — $ — Expected future benefit payments, undiscounted $ 8,164 $ 5,863 $ 13,336 $ 8,332 $ 5,710 $ 13,767 $ 8,184 $ 5,520 $ 14,418 Expected future benefit payments, discounted $ 5,989 $ 4,161 $ 6,876 $ 6,023 $ 4,031 $ 7,085 $ 5,922 $ 3,897 $ 7,410 Information regarding the additional insurance liabilities for universal life-type contracts with secondary guarantees was as follows: Years Ended December 31, 2024 2023 2022 (Dollars in millions) Balance, beginning of year $ 7,607 $ 6,935 $ 7,168 Beginning balance before the effect of unrealized gains and losses 7,784 7,175 6,731 Effect of changes in cash flow assumptions 895 52 (37) Effect of actual variances from expected experience 167 145 179 Adjusted beginning of year balance 8,846 7,372 6,873 Interest accrual 406 357 333 Net assessments collected 446 414 416 Benefit payments (421) (359) (447) Ending balance before the effect of unrealized gains and losses 9,277 7,784 7,175 Effect of unrealized gains and losses (291) (177) (240) Balance, end of year 8,986 7,607 6,935 Less: Reinsurance recoverable, end of year 1,535 1,438 1,384 Net additional liability, after reinsurance recoverable $ 7,451 $ 6,169 $ 5,551 Weighted-average duration of liability 6.6 years 6.7 years 6.7 years Weighted-average interest accretion rate 4.94 % 4.92 % 4.90 % Gross assessments recognized during period $ 1,083 $ 1,064 $ 1,070 A reconciliation of the net LFPBs for non-participating traditional and limited-payment contracts and the additional insurance liabilities for universal life-type contracts with secondary guarantees reported in the preceding rollforward tables to LFPBs on the consolidated balance sheets was as follows at: December 31, 2024 2023 (In millions) Liabilities reported in the preceding rollforward tables $ 21,384 $ 20,591 Long-term care insurance (1) 5,190 5,581 ULSG liabilities, including liability for profits followed by losses 875 2,427 Participating whole life insurance (2) 3,217 3,102 Deferred profit liabilities 431 479 Other 378 389 Total liability for future policy benefits $ 31,475 $ 32,569 _______________ (1) Includes liabilities related to fully reinsured individual long-term care insurance. See Notes 2 and 7. (2) Participating whole life insurance uses an interest assumption based on the non-forfeiture interest rate, ranging from 3.5% to 4.5%, and mortality rates guaranteed in calculating the cash surrender values described in such contracts, and also includes a liability for terminal dividends. Participating whole life insurance represented 3% of the Company’s life insurance in-force at both December 31, 2024 and 2023, and 39% and 40% of gross traditional life insurance premiums for the years ended December 31, 2024 and 2023, respectively.
Policyholder Account Balance	Information regarding policyholder account balances was as follows: Universal Life Insurance Variable Annuities (1) Index-linked Annuities Fixed Rate Annuities ULSG Company-Owned Life Insurance (1) (Dollars in millions) Year Ended December 31, 2024 Balance, beginning of year $ 2,550 $ 4,307 $ 41,627 $ 14,672 $ 5,052 $ 653 Premiums and deposits 248 73 8,228 1,127 645 — Surrenders and withdrawals (95) (670) (5,532) (1,356) (23) — Benefit payments (41) (98) (324) (345) (70) (9) Net transfers from (to) separate account 51 127 — — — 500 Interest credited 92 114 673 567 163 29 Policy charges (215) (20) (23) — (988) (7) Changes related to embedded derivatives — — 3,956 — — — Balance, end of year $ 2,590 $ 3,833 $ 48,605 $ 14,665 $ 4,779 $ 1,166 Weighted-average crediting rate (2) 3.58 % 2.81 % 1.79 % 3.84 % 3.32 % 3.63 % Year Ended December 31, 2023 Balance, beginning of year $ 2,658 $ 4,908 $ 33,897 $ 14,274 $ 5,307 $ 641 Premiums and deposits 230 76 7,183 2,694 660 — Surrenders and withdrawals (163) (693) (3,732) (2,405) (23) — Benefit payments (67) (111) (240) (377) (85) (8) Net transfers from (to) separate account 46 18 — — — 1 Interest credited 66 133 445 486 208 28 Policy charges (220) (24) (11) — (1,015) (9) Changes related to embedded derivatives — — 4,085 — — — Balance, end of year $ 2,550 $ 4,307 $ 41,627 $ 14,672 $ 5,052 $ 653 Weighted-average crediting rate (2) 2.56 % 2.90 % 1.47 % 3.31 % 4.02 % 4.33 % Year Ended December 31, 2022 Balance, beginning of year $ 2,694 $ 4,743 $ 32,000 $ 11,849 $ 5,569 $ 646 Premiums and deposits 219 146 6,632 3,676 697 — Surrenders and withdrawals (88) (495) (2,220) (904) (32) — Benefit payments (65) (113) (180) (345) (84) (8) Net transfers from (to) separate account 47 151 — — — (13) Interest credited 76 501 392 (2) 197 23 Policy charges (225) (25) (8) — (1,040) (7) Changes related to embedded derivatives — — (2,719) — — — Balance, end of year $ 2,658 $ 4,908 $ 33,897 $ 14,274 $ 5,307 $ 641 Weighted-average crediting rate (2) 2.84 % 10.47 % 1.16 % (0.02) % 3.62 % 3.41 % _______________ (1) Includes liabilities related to separate account products where the contract holder elected a general account investment option. (2) Excludes the effects of embedded derivatives related to index-linked crediting rates. A reconciliation of policyholder account balances reported in the preceding rollforward table to the liability for policyholder account balances on the consolidated balance sheets was as follows at: December 31, 2024 2023 (In millions) Policyholder account balances reported in the preceding rollforward table $ 75,638 $ 68,861 Funding agreements classified as investment contracts 11,002 11,115 Institutional group annuities 370 — Other investment contract liabilities 979 1,092 Total policyholder account balances $ 87,989 $ 81,068
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	The balance of account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimums was as follows at: Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 to 50 Basis Points Above 51 to 150 Basis Points Above Greater than 150 Basis Points Above Total (In millions) December 31, 2024 Annuities (1): Less than 2.00% $ 562 $ 126 $ 240 $ 8,769 $ 9,697 2.00% to 3.99% 7,160 462 492 385 8,499 Greater than 3.99% 783 — — — 783 Total $ 8,505 $ 588 $ 732 $ 9,154 $ 18,979 Life insurance (2) (3): Less than 2.00% $ — $ — $ — $ 317 $ 317 2.00% to 3.99% — 522 48 131 701 Greater than 3.99% 1,530 — — — 1,530 Total $ 1,530 $ 522 $ 48 $ 448 $ 2,548 ULSG (3): Less than 2.00% $ — $ — $ — $ — $ — 2.00% to 3.99% 1,052 1,386 1,602 238 4,278 Greater than 3.99% 484 — — — 484 Total $ 1,536 $ 1,386 $ 1,602 $ 238 $ 4,762 December 31, 2023 Annuities (1): Less than 2.00% $ 697 $ 223 $ 310 $ 7,652 $ 8,882 2.00% to 3.99% 8,827 242 225 356 9,650 Greater than 3.99% 874 — — — 874 Total $ 10,398 $ 465 $ 535 $ 8,008 $ 19,406 Life insurance (2) (3): Less than 2.00% $ — $ — $ — $ 236 $ 236 2.00% to 3.99% — 492 49 136 677 Greater than 3.99% 1,595 — — — 1,595 Total $ 1,595 $ 492 $ 49 $ 372 $ 2,508 ULSG (3): Less than 2.00% $ — $ — $ — $ — $ — 2.00% to 3.99% 1,135 1,485 1,663 254 4,537 Greater than 3.99% 506 — — — 506 Total $ 1,641 $ 1,485 $ 1,663 $ 254 $ 5,043 _______________ (1) Includes policyholder account balances for fixed rate annuities and the fixed account portion of variable annuities. (2) Includes policyholder account balances for retained asset accounts, universal life policies and the fixed account portion of universal variable life insurance policies. (3) Amounts are gross of policy loans.

Market Risk Benefits (Tables)

Market Risk Benefits (Tables)	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
Market Risk Benefit, Activity	Information regarding MRB assets and liabilities associated with variable annuities was as follows: Years Ended December 31, 2024 2023 2022 (Dollars in millions) Balance, beginning of year $ 9,701 $ 9,974 $ 15,698 Balance, beginning of year, before effect of changes in nonperformance risk 7,326 8,230 11,611 Decrements (178) (176) 16 Effect of changes in future expected assumptions (53) 259 210 Effect of actual different from expected experience 140 187 (48) Effect of changes in interest rates (1,940) (428) (8,394) Effect of changes in fund returns (973) (2,203) 3,807 Issuances (4) (7) (47) Effect of changes in risk margin (72) (34) (152) Aging of the block and other 973 1,498 1,227 Balance, end of year, before effect of changes in nonperformance risk 5,219 7,326 8,230 Effect of changes in nonperformance risk 2,014 2,375 1,744 Balance, end of year 7,233 9,701 9,974 Less: Reinsurance recoverable, end of year 17 43 71 Balance, end of year, net of reinsurance (1) $ 7,216 $ 9,658 $ 9,903 Weighted-average attained age of contract holder 73.8 years 72.9 years 71.8 years _______________ (1) Amounts represent the sum of MRB assets and MRB liabilities presented on the consolidated balance sheets at December 31, 2024, 2023 and 2022, with the exception of $21 million, $9 million and $3 million, respectively, of index-linked annuities not included in this table.

Separate Accounts (Tables)

Separate Accounts (Tables)	12 Months Ended
	Dec. 31, 2024
Insurance [Abstract]
Separate Account, Liability	Information regarding separate account liabilities was as follows: Years Ended December 31, 2024 2023 2022 Variable Annuities Universal Life Insurance Company-Owned Life Insurance Variable Annuities Universal Life Insurance Company-Owned Life Insurance Variable Annuities Universal Life Insurance Company-Owned Life Insurance (In millions) Balance, beginning of year $ 79,990 $ 5,921 $ 2,162 $ 77,653 $ 5,218 $ 1,932 $ 105,023 $ 6,862 $ 2,384 Premiums and deposits 834 152 — 766 162 — 1,207 175 — Surrenders and withdrawals (8,291) (217) (29) (6,346) (180) (19) (6,256) (159) (18) Benefit payments (1,555) (69) (22) (1,434) (68) (28) (1,337) (67) (33) Investment performance 8,494 897 254 11,549 1,041 328 (18,583) (1,342) (358) Policy charges (2,168) (214) (53) (2,160) (206) (49) (2,292) (203) (61) Net transfers from (to) general account (127) (51) (500) (18) (46) (1) (151) (47) 13 Other (26) — (4) (20) — (1) 42 (1) 5 Balance, end of year $ 77,151 $ 6,419 $ 1,808 $ 79,990 $ 5,921 $ 2,162 $ 77,653 $ 5,218 $ 1,932 A reconciliation of separate account liabilities reported in the preceding rollforward table to the separate account liabilities balance on the consolidated balance sheets was as follows at: December 31, 2024 2023 (In millions) Separate account liabilities reported in the preceding rollforward table $ 85,378 $ 88,073 Variable income annuities 235 179 Pension risk transfer annuities 23 19 Total separate account liabilities $ 85,636 $ 88,271
Fair Value, Separate Account Investment	The aggregate estimated fair value of assets, by major investment asset category, supporting separate accounts was as follows at: December 31, 2024 2023 (In millions) Equity securities $ 85,423 $ 87,999 Fixed maturity securities 207 258 Cash and cash equivalents 2 7 Other assets 4 7 Total aggregate estimated fair value of assets $ 85,636 $ 88,271
Guarantees related to Annuity, Universal and Variable Life Contracts	Information regarding the net amount at risk and cash surrender value for insurance products was as follows at: Universal Life Insurance Variable Annuities Index-linked Annuities Fixed Rate Annuities ULSG Company-Owned Life Insurance (In millions) December 31, 2024 Account balances reported in the preceding rollforward tables: Policyholder account balances $ 2,590 $ 3,833 $ 48,605 $ 14,665 $ 4,779 $ 1,166 Separate account liabilities 6,419 77,151 — — — 1,808 Total account balances $ 9,009 $ 80,984 $ 48,605 $ 14,665 $ 4,779 $ 2,974 Net amount at risk $ 33,227 $ 12,817 N/A N/A $ 63,580 $ 2,657 Cash surrender value $ 8,425 $ 80,592 $ 47,013 $ 14,361 $ 4,316 $ 2,142 December 31, 2023 Account balances reported in the preceding rollforward tables: Policyholder account balances $ 2,550 $ 4,307 $ 41,627 $ 14,672 $ 5,052 $ 653 Separate account liabilities 5,921 79,990 — — — 2,162 Total account balances $ 8,471 $ 84,297 $ 41,627 $ 14,672 $ 5,052 $ 2,815 Net amount at risk $ 35,583 $ 13,240 N/A N/A $ 65,299 $ 2,659 Cash surrender value $ 7,881 $ 83,852 $ 39,270 $ 14,068 $ 4,498 $ 2,593 December 31, 2022 Account balances reported in the preceding rollforward tables: Policyholder account balances $ 2,658 $ 4,908 $ 33,897 $ 14,274 $ 5,307 $ 641 Separate account liabilities 5,218 77,653 — — — 1,932 Total account balances $ 7,876 $ 82,561 $ 33,897 $ 14,274 $ 5,307 $ 2,573 Net amount at risk $ 38,146 $ 16,504 N/A N/A $ 66,926 $ 3,382 Cash surrender value $ 7,225 $ 82,125 $ 31,293 $ 13,723 $ 4,671 $ 2,357

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles (Tables)	12 Months Ended
	Dec. 31, 2024
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]
Deferred Policy Acquisition Costs	Information regarding DAC and VOBA was as follows: Variable Annuities Fixed Rate Annuities Index-linked Annuities Term and Whole Life Insurance Universal Life Insurance (In millions) DAC: Balance at January 1, 2022 $ 2,718 $ 89 $ 1,081 $ 462 $ 431 Capitalization 55 30 330 (1) 11 Amortization (265) (12) (198) (56) (50) Balance at December 31, 2022 2,508 107 1,213 405 392 Capitalization 36 14 343 2 13 Amortization (243) (11) (225) (53) (45) Balance at December 31, 2023 2,301 110 1,331 354 360 Capitalization 39 8 373 4 13 Amortization (224) (3) (242) (48) (41) Balance at December 31, 2024 $ 2,116 $ 115 $ 1,462 $ 310 $ 332 VOBA: Balance at January 1, 2022 $ 377 $ 70 $ — $ 6 $ 54 Amortization (36) (5) — (1) (6) Balance at December 31, 2022 341 65 — 5 48 Amortization (32) (5) — (1) (5) Balance at December 31, 2023 309 60 — 4 43 Amortization (30) (5) — (1) (5) Balance at December 31, 2024 $ 279 $ 55 $ — $ 3 $ 38 Total DAC and VOBA: Balance at December 31, 2024 $ 2,395 $ 170 $ 1,462 $ 313 $ 370 Balance at December 31, 2023 $ 2,610 $ 170 $ 1,331 $ 358 $ 403 Balance at December 31, 2022 $ 2,849 $ 172 $ 1,213 $ 410 $ 440
Present Value of Future Insurance Profits	Information regarding DAC and VOBA was as follows: Variable Annuities Fixed Rate Annuities Index-linked Annuities Term and Whole Life Insurance Universal Life Insurance (In millions) DAC: Balance at January 1, 2022 $ 2,718 $ 89 $ 1,081 $ 462 $ 431 Capitalization 55 30 330 (1) 11 Amortization (265) (12) (198) (56) (50) Balance at December 31, 2022 2,508 107 1,213 405 392 Capitalization 36 14 343 2 13 Amortization (243) (11) (225) (53) (45) Balance at December 31, 2023 2,301 110 1,331 354 360 Capitalization 39 8 373 4 13 Amortization (224) (3) (242) (48) (41) Balance at December 31, 2024 $ 2,116 $ 115 $ 1,462 $ 310 $ 332 VOBA: Balance at January 1, 2022 $ 377 $ 70 $ — $ 6 $ 54 Amortization (36) (5) — (1) (6) Balance at December 31, 2022 341 65 — 5 48 Amortization (32) (5) — (1) (5) Balance at December 31, 2023 309 60 — 4 43 Amortization (30) (5) — (1) (5) Balance at December 31, 2024 $ 279 $ 55 $ — $ 3 $ 38 Total DAC and VOBA: Balance at December 31, 2024 $ 2,395 $ 170 $ 1,462 $ 313 $ 370 Balance at December 31, 2023 $ 2,610 $ 170 $ 1,331 $ 358 $ 403 Balance at December 31, 2022 $ 2,849 $ 172 $ 1,213 $ 410 $ 440
Deferred Sales Inducement Cost	Information regarding DSI, included in other assets, was as follows: December 31, 2024 2023 2022 Variable Annuities Fixed Rate Annuities Variable Annuities Fixed Rate Annuities Variable Annuities Fixed Rate Annuities (In millions) Balance, beginning of year $ 220 $ 8 $ 245 $ 9 $ 272 $ 10 Capitalization 1 — 1 — 1 — Amortization (23) (2) (26) (1) (28) (1) Balance, end of year $ 198 $ 6 $ 220 $ 8 $ 245 $ 9
Unearned Revenue	Information regarding unearned revenue, included in other policy-related balances, was as follows: December 31, 2024 2023 2022 Universal Life Insurance ULSG Variable Annuities Universal Life Insurance ULSG Variable Annuities Universal Life Insurance ULSG Variable Annuities (In millions) Balance, beginning of year $ 356 $ 612 $ 67 $ 357 $ 488 $ 74 $ 358 $ 344 $ 80 Capitalization 37 166 — 38 174 — 39 181 2 Amortization (36) (63) (7) (39) (50) (7) (40) (37) (8) Balance, end of year $ 357 $ 715 $ 60 $ 356 $ 612 $ 67 $ 357 $ 488 $ 74

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2024
Reinsurance Disclosures [Abstract]
Effect of reinsurance	The amounts on the consolidated statements of operations include the impact of reinsurance. Information regarding the significant effects of reinsurance was as follows: Years Ended December 31, 2024 2023 2022 (In millions) Premiums Direct premiums $ 1,395 $ 1,499 $ 1,359 Reinsurance assumed 12 14 6 Reinsurance ceded (637) (685) (703) Net premiums $ 770 $ 828 $ 662 Universal life and investment-type product policy fees Direct universal life and investment-type product policy fees $ 2,976 $ 2,941 $ 3,107 Reinsurance assumed 53 49 45 Reinsurance ceded (913) (695) (717) Net universal life and investment-type product policy fees $ 2,116 $ 2,295 $ 2,435 Other revenues Direct other revenues $ 286 $ 269 $ 292 Reinsurance assumed 7 2 2 Reinsurance ceded 286 212 184 Net other revenues $ 579 $ 483 $ 478 Policyholder benefits and claims Direct policyholder benefits and claims $ 3,959 $ 3,946 $ 3,863 Reinsurance assumed 80 84 112 Reinsurance ceded (1,745) (1,354) (1,782) Net policyholder benefits and claims $ 2,294 $ 2,676 $ 2,193 Change in market risk benefits Direct change in market risk benefits $ (2,713) $ (1,537) $ (4,154) Reinsurance assumed 7 (1) (1) Reinsurance ceded 33 31 51 Net change in market risk benefits $ (2,673) $ (1,507) $ (4,104) The amounts on the consolidated balance sheets include the impact of reinsurance. Information regarding the significant effects of reinsurance was as follows at: December 31, 2024 2023 Direct Assumed Ceded Total Direct Assumed Ceded Total (In millions) Assets Premiums, reinsurance and other receivables (net of allowance for credit losses) $ 507 $ 3 $ 20,616 $ 21,126 $ 463 $ 4 $ 19,294 $ 19,761 Market risk benefit assets $ 1,075 $ — $ 17 $ 1,092 $ 613 $ — $ 43 $ 656 Liabilities Future policy benefits $ 31,366 $ 109 $ — $ 31,475 $ 32,456 $ 113 $ — $ 32,569 Policyholder account balances $ 83,846 $ 4,143 $ — $ 87,989 $ 76,768 $ 4,300 $ — $ 81,068 Market risk benefit liabilities $ 8,313 $ 16 $ — $ 8,329 $ 10,318 $ 5 $ — $ 10,323 Other policy-related balances $ 2,324 $ 1,554 $ — $ 3,878 $ 2,253 $ 1,583 $ — $ 3,836 Other liabilities $ 7,422 $ 25 $ 1,713 $ 9,160 $ 7,138 $ 15 $ 1,286 $ 8,439

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Fixed Maturity Securities by Sector	Fixed maturity securities by sector were as follows at: December 31, 2024 December 31, 2023 Amortized Cost Allowance for Credit Losses Gross Unrealized Estimated Fair Value Amortized Cost Allowance for Credit Losses Gross Unrealized Estimated Fair Value Gains Losses Gains Losses (In millions) U.S. corporate $ 40,894 $ 47 $ 215 $ 3,939 $ 37,123 $ 38,778 $ 15 $ 388 $ 3,396 $ 35,755 Foreign corporate 13,284 26 53 1,481 11,830 12,865 — 89 1,289 11,665 RMBS 8,120 4 46 875 7,287 8,199 5 48 812 7,430 U.S. government and agency 7,408 — 40 701 6,747 8,656 — 286 523 8,419 CMBS 6,776 4 6 422 6,356 7,023 1 2 614 6,410 ABS 6,354 — 33 75 6,312 6,514 — 23 131 6,406 State and political subdivision 3,731 — 81 371 3,441 4,019 — 159 304 3,874 Foreign government 1,036 — 24 101 959 1,077 — 42 87 1,032 Total fixed maturity securities $ 87,603 $ 81 $ 498 $ 7,965 $ 80,055 $ 87,131 $ 21 $ 1,037 $ 7,156 $ 80,991
Maturities of Fixed Maturity Securities	The amortized cost and estimated fair value of fixed maturity securities, by contractual maturity date, were as follows at December 31, 2024: Due in One Year or Less Due After One Year Through Five Years Due After Five Years Through Ten Years Due After Ten Years Structured Securities Total Fixed Maturity Securities (In millions) Amortized cost $ 4,052 $ 19,848 $ 13,624 $ 28,829 $ 21,250 $ 87,603 Estimated fair value $ 4,036 $ 19,272 $ 12,381 $ 24,411 $ 19,955 $ 80,055
Continuous Gross Unrealized Losses for Fixed Maturity Securities by Sector	The estimated fair value and gross unrealized losses of fixed maturity securities in an unrealized loss position, by sector and by length of time that the securities have been in a continuous unrealized loss position, were as follows at: December 31, 2024 December 31, 2023 Less than 12 Months 12 Months or Greater Less than 12 Months 12 Months or Greater Estimated Gross Estimated Gross Estimated Gross Estimated Gross (Dollars in millions) U.S. corporate $ 10,764 $ 719 $ 17,660 $ 3,220 $ 4,554 $ 409 $ 22,796 $ 2,987 Foreign corporate 3,277 351 5,560 1,130 1,010 73 8,311 1,216 RMBS 1,223 81 4,647 794 413 20 5,774 792 U.S. government and agency 2,457 118 1,884 583 518 9 3,477 514 CMBS 1,326 90 4,402 332 411 33 5,786 581 ABS 717 10 1,081 65 572 3 3,360 128 State and political subdivision 882 64 1,447 307 471 32 1,634 272 Foreign government 272 30 431 71 112 6 620 81 Total fixed maturity securities $ 20,918 $ 1,463 $ 37,112 $ 6,502 $ 8,061 $ 585 $ 51,758 $ 6,571 Total number of securities in an unrealized loss position 3,362 5,272 1,347 7,038
Rollforward of the Allowance for Credit Losses for Fixed Maturity Securities by Sector	The changes in the allowance for credit losses for fixed maturity securities by sector were as follows: U.S. Corporate Foreign Corporate RMBS CMBS Total (In millions) Balance at December 31, 2022 $ 1 $ 1 $ 2 $ 3 $ 7 Allowance on securities where credit losses were not previously recorded 15 — 3 — 18 Reductions for securities sold (1) — — (1) (2) Change in allowance on securities with an allowance recorded in a previous period — — — (1) (1) Write-offs charged against allowance (1) — (1) — — (1) Balance at December 31, 2023 15 — 5 1 21 Allowance on securities where credit losses were not previously recorded 29 26 — 3 58 Reductions for securities sold — — — — — Change in allowance on securities with an allowance recorded in a previous period 3 — (1) — 2 Write-offs charged against allowance (1) — — — — — Balance at December 31, 2024 $ 47 $ 26 $ 4 $ 4 $ 81 _______________ (1) The Company recorded total write-offs of $12 million and $8 million for the years ended December 31, 2024 and 2023, respectively.
Mortgage Loans by Portfolio Segment	Mortgage loans are summarized as follows at: December 31, 2024 2023 Carrying % of Carrying % of (Dollars in millions) Commercial $ 13,330 57.2 % $ 13,193 58.6 % Agricultural 4,591 19.7 4,445 19.8 Residential 5,543 23.8 5,007 22.2 Total mortgage loans (1) 23,464 100.7 22,645 100.6 Allowance for credit losses (178) (0.7) (137) (0.6) Total mortgage loans, net $ 23,286 100.0 % $ 22,508 100.0 % _______________ (1) Purchases of mortgage loans from third parties were $1.0 billion and $311 million for the years ended December 31, 2024 and 2023, respectively, and were primarily comprised of residential mortgage loans.
Rollforward of the Allowance for Credit Losses for Mortgage Loans by Portfolio Segment	The changes in the allowance for credit losses by portfolio segment were as follows: Commercial Agricultural Residential Total (In millions) Balance at December 31, 2022 $ 49 $ 15 $ 55 $ 119 Current period provision 24 5 (6) 23 Charge-offs, net of recoveries (4) (1) — (5) Balance at December 31, 2023 69 19 49 137 Current period provision 50 11 (7) 54 Charge-offs, net of recoveries (13) — — (13) Balance at December 31, 2024 $ 106 $ 30 $ 42 $ 178
Credit Quality of Mortgage Loans by Portfolio Segment	The amortized cost of mortgage loans by year of origination and credit quality indicator was as follows at: 2024 2023 2022 2021 2020 Prior Total (In millions) December 31, 2024 Commercial mortgage loans Loan-to-value ratios: Less than 65% $ 640 $ 199 $ 279 $ 1,850 $ 196 $ 2,846 $ 6,010 65% to 75% 208 — 1,022 713 62 1,171 3,176 76% to 80% — — 117 201 174 602 1,094 Greater than 80% — — 972 388 — 1,690 3,050 Total commercial mortgage loans 848 199 2,390 3,152 432 6,309 13,330 Agricultural mortgage loans Loan-to-value ratios: Less than 65% 410 203 594 1,073 402 1,655 4,337 65% to 75% — 18 80 113 6 20 237 76% to 80% — — — — 1 — 1 Greater than 80% — — — — — 16 16 Total agricultural mortgage loans 410 221 674 1,186 409 1,691 4,591 Residential mortgage loans Performing 586 222 1,268 1,640 146 1,563 5,425 Nonperforming 1 — 44 21 1 51 118 Total residential mortgage loans 587 222 1,312 1,661 147 1,614 5,543 Total $ 1,845 $ 642 $ 4,376 $ 5,999 $ 988 $ 9,614 $ 23,464 2023 2022 2021 2020 2019 Prior Total (In millions) December 31, 2023 Commercial mortgage loans Loan-to-value ratios: Less than 65% $ 206 $ 655 $ 1,823 $ 177 $ 1,239 $ 2,630 $ 6,730 65% to 75% — 935 1,079 222 261 1,158 3,655 76% to 80% — 427 76 39 209 564 1,315 Greater than 80% — 400 227 — 150 716 1,493 Total commercial mortgage loans 206 2,417 3,205 438 1,859 5,068 13,193 Agricultural mortgage loans Loan-to-value ratios: Less than 65% 202 571 1,132 454 505 1,292 4,156 65% to 75% 1 127 108 6 30 17 289 76% to 80% — — — — — — — Greater than 80% — — — — — — — Total agricultural mortgage loans 203 698 1,240 460 535 1,309 4,445 Residential mortgage loans Performing 105 1,286 1,669 145 204 1,508 4,917 Nonperforming — 22 22 1 2 43 90 Total residential mortgage loans 105 1,308 1,691 146 206 1,551 5,007 Total $ 514 $ 4,423 $ 6,136 $ 1,044 $ 2,600 $ 7,928 $ 22,645 The amortized cost of commercial mortgage loans by debt-service coverage ratio was as follows at: December 31, 2024 2023 Amortized Cost % of Amortized Cost % of (Dollars in millions) Debt-service coverage ratios: Greater than 1.20x $ 12,033 90.3 % $ 12,086 91.6 % 1.00x - 1.20x 801 6.0 702 5.3 Less than 1.00x 496 3.7 405 3.1 Total $ 13,330 100.0 % $ 13,193 100.0 %
Past Due Mortgage Loans by Portfolio Segment	The aging of the amortized cost of past due mortgage loans by portfolio segment was as follows at: December 31, 2024 2023 Commercial Agricultural Residential Total Commercial Agricultural Residential Total (In millions) Current $ 13,210 $ 4,566 $ 5,423 $ 23,199 $ 13,176 $ 4,429 $ 4,915 $ 22,520 30-59 days past due — — 2 2 — — 2 2 60-89 days past due — — 36 36 — — 30 30 90-179 days past due 21 9 36 66 — — 23 23 180+ days past due 99 16 46 161 17 16 37 70 Total $ 13,330 $ 4,591 $ 5,543 $ 23,464 $ 13,193 $ 4,445 $ 5,007 $ 22,645
Mortgage Loans in Nonaccrual Status by Portfolio Segment	The amortized cost of mortgage loans in a nonaccrual status by portfolio segment was as follows at: Commercial Agricultural Residential (1) Total (In millions) December 31, 2024 $ 120 $ 25 $ 118 $ 263 December 31, 2023 $ 17 $ — $ 90 $ 107 _______________ (1) The Company had $3 million of mortgage loans in nonaccrual status for which there was no related allowance for credit losses at December 31, 2024. The Company did not have any mortgage loans in nonaccrual status for which there was no related allowance for credit losses at December 31, 2023.
Net Unrealized Investment Gains (Losses)	The components of net unrealized investment gains (losses), included in AOCI, were as follows: Years Ended December 31, 2024 2023 2022 (In millions) Fixed maturity securities $ (7,467) $ (6,119) $ (8,760) Derivatives 469 351 638 Other (12) 2 3 Subtotal (7,010) (5,766) (8,119) Amounts allocated from: Future policy benefits 977 652 917 Deferred income tax benefit (expense) 1,267 1,074 1,512 Net unrealized investment gains (losses) $ (4,766) $ (4,040) $ (5,690) The changes in net unrealized investment gains (losses) were as follows: Years Ended December 31, 2024 2023 2022 (In millions) Balance at January 1, $ (4,040) $ (5,690) $ 5,524 Unrealized investment gains (losses) during the year (1,244) 2,353 (16,766) Unrealized investment gains (losses) relating to: Future policy benefits 325 (265) 2,572 Deferred income tax benefit (expense) 193 (438) 2,980 Balance at December 31, $ (4,766) $ (4,040) $ (5,690) Change in net unrealized investment gains (losses) $ (726) $ 1,650 $ (11,214)
Securities Lending	Elements of the securities lending program are presented below at: December 31, 2024 2023 (In millions) Securities on loan: (1) Amortized cost $ 3,582 $ 3,420 Estimated fair value $ 3,127 $ 3,194 Cash collateral received from counterparties (2) $ 3,210 $ 3,277 Reinvestment portfolio — estimated fair value $ 3,217 $ 3,246 _______________ (1) Included in fixed maturity securities. (2) Included in payables for collateral under securities loaned and other transactions. The cash collateral liability by loaned security type and remaining tenor of the agreements were as follows at: December 31, 2024 December 31, 2023 Open (1) 1 Month or Less 1 to 6 Months Total Open (1) 1 Month or Less 1 to 6 Months Total (In millions) U.S. government and agency $ 490 $ 1,467 $ 886 $ 2,843 $ 647 $ 655 $ 1,584 $ 2,886 U.S. corporate — 248 — 248 — 252 — 252 Foreign corporate — 105 — 105 — 130 — 130 Foreign government — 14 — 14 — 9 — 9 Total $ 490 $ 1,834 $ 886 $ 3,210 $ 647 $ 1,046 $ 1,584 $ 3,277 _______________ (1) The related loaned security could be returned to the Company on the next business day which would require the Company to immediately return the cash collateral.
Invested Assets on Deposit, Held in Trust and Pledged as Collateral	Invested assets on deposit, held in trust and pledged as collateral at estimated fair value were as follows at: December 31, 2024 2023 (In millions) Invested assets on deposit (regulatory deposits) (1) $ 6,249 $ 8,593 Invested assets held in trust (reinsurance agreements) (2) 8,274 7,142 Invested assets pledged as collateral (3) 12,471 13,979 Total invested assets on deposit, held in trust and pledged as collateral $ 26,994 $ 29,714 _______________ (1) The Company has assets, primarily fixed maturity securities, on deposit with governmental authorities relating to certain policyholder liabilities, of which $68 million and $102 million of the assets on deposit represents restricted cash and cash equivalents at December 31, 2024 and 2023, respectively. (2) The Company has assets, primarily fixed maturity securities, held in trust relating to certain reinsurance transactions, of which $334 million and $120 million of the assets held in trust balance represents restricted cash and cash equivalents at December 31, 2024 and 2023, respectively. (3) The Company has pledged invested assets in connection with various agreements and transactions, including funding agreements (see Note 3) and derivative transactions (see Note 9).
Variable Interest Entities	The carrying amount and maximum exposure to loss related to the VIEs for which the Company has concluded that it holds a variable interest, but is not the primary beneficiary, were as follows at: December 31, 2024 2023 Carrying Maximum Carrying Maximum (In millions) Fixed maturity securities $ 14,375 $ 15,474 $ 15,526 $ 16,771 Limited partnerships and LLCs 4,236 5,278 4,233 5,255 Total $ 18,611 $ 20,752 $ 19,759 $ 22,026
Components of Net Investment Income	The components of net investment income were as follows: Years Ended December 31, 2024 2023 2022 (In millions) Investment income: Fixed maturity securities $ 3,746 $ 3,516 $ 3,077 Equity securities 3 3 3 Mortgage loans 1,002 958 842 Policy loans 69 67 64 Limited partnerships and LLCs (1) 357 168 263 Cash, cash equivalents and short-term investments 286 225 72 Other 107 87 69 Total investment income 5,570 5,024 4,390 Less: Investment expenses 348 360 252 Net investment income $ 5,222 $ 4,664 $ 4,138 _______________ (1) Includes net investment income pertaining to other limited partnership interests of $367 million, $187 million and $170 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Components of Net Investment Gains (Losses)	The components of net investment gains (losses) were as follows: Years Ended December 31, 2024 2023 2022 (In millions) Fixed maturity securities $ (245) $ (224) $ (192) Equity securities (6) 5 (14) Mortgage loans (56) (24) (20) Limited partnerships and LLCs (2) (1) (20) Other 14 (2) (2) Total net investment gains (losses) $ (295) $ (246) $ (248)
Sales or Disposals of Fixed Maturity Securities	Proceeds from sales or disposals of fixed maturity securities and the components of fixed maturity securities net investment gains (losses) were as follows: Years Ended December 31, 2024 2023 2022 (In millions) Proceeds $ 3,520 $ 2,301 $ 6,640 Gross investment gains $ 20 $ 15 $ 52 Gross investment losses (193) (216) (236) Net investment gains (losses) $ (173) $ (201) $ (184)

Derivatives (Tables)

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position	The primary underlying risk exposure, gross notional amount and estimated fair value of derivatives, excluding embedded derivatives, held were as follows at: December 31, 2024 2023 Primary Underlying Risk Exposure Gross Notional Amount Estimated Fair Value Gross Notional Amount Estimated Fair Value Assets Liabilities Assets Liabilities (In millions) Derivatives Designated as Hedging Instruments: Cash flow hedges: Interest rate swaps Interest rate $ 500 $ 9 $ — $ — $ — $ — Foreign currency swaps Foreign currency exchange rate 3,823 439 25 3,939 348 45 Total qualifying hedges 4,323 448 25 3,939 348 45 Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate swaps Interest rate 69,303 131 444 31,252 140 103 Interest rate floors Interest rate 8,000 1 30 3,500 7 1 Interest rate caps Interest rate 7,850 14 14 7,050 19 1 Interest rate futures Interest rate 171 — — — — — Interest rate options Interest rate 23,060 11 371 33,680 47 167 Interest rate forwards Interest rate 16,352 121 1,876 17,017 32 1,937 Foreign currency swaps Foreign currency exchange rate 685 113 — 747 101 1 Foreign currency forwards Foreign currency exchange rate 386 12 — 535 — 9 Credit default swaps — written Credit 780 19 — 1,405 27 — Equity futures Equity market 316 — 1 — — — Equity index options Equity market 39,897 1,722 1,041 20,099 757 687 Equity total return swaps Equity market 106,301 1,543 1,446 53,742 2,236 2,137 Hybrid options Equity market — — — 270 — — Total non-designated or non-qualifying derivatives 273,101 3,687 5,223 169,297 3,366 5,043 Total $ 277,424 $ 4,135 $ 5,248 $ 173,236 $ 3,714 $ 5,088
Derivative Instruments, Gain (Loss)	The amount and location of gains (losses), including earned income, recognized for derivatives and gains (losses) pertaining to hedged items reported in net derivative gains (losses) were as follows: Year Ended December 31, 2024 Net Derivative Gains (Losses) Recognized for Derivatives Net Derivative Gains (Losses) Recognized for Hedged Items Net Investment Income Policyholder Benefits and Claims Amount of Gains (Losses) Deferred in AOCI (In millions) Derivatives Designated as Hedging Instruments: Cash flow hedges: Interest rate $ 2 $ — $ 3 $ 8 $ 9 Foreign currency exchange rate 13 (10) 51 — 127 Total cash flow hedges 15 (10) 54 8 136 Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate (1,690) — — — — Foreign currency exchange rate 69 (9) — — — Credit 14 — — — — Equity market 1,894 — — — — Embedded (3,951) — — — — Total non-qualifying hedges (3,664) (9) — — — Total $ (3,649) $ (19) $ 54 $ 8 $ 136 Year Ended December 31, 2023 Net Derivative Gains (Losses) Recognized for Derivatives Net Derivative Gains (Losses) Recognized for Hedged Items Net Investment Income Policyholder Benefits and Claims Amount of Gains (Losses) Deferred in AOCI (In millions) Derivatives Designated as Hedging Instruments: Cash flow hedges: Interest rate $ 1 $ — $ 3 $ — $ (1) Foreign currency exchange rate 7 (8) 52 — (275) Total cash flow hedges 8 (8) 55 — (276) Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate (384) — — — — Foreign currency exchange rate (15) (13) — — — Credit 32 — — — — Equity market 570 — — — — Embedded (4,097) — — — — Total non-qualifying hedges (3,894) (13) — — — Total $ (3,886) $ (21) $ 55 $ — $ (276) Year Ended December 31, 2022 Net Derivative Gains (Losses) Recognized for Derivatives Net Derivative Gains (Losses) Recognized for Hedged Items Net Investment Income Policyholder Benefits and Claims Amount of Gains (Losses) Deferred in AOCI (In millions) Derivatives Designated as Hedging Instruments: Cash flow hedges: Interest rate $ 5 $ — $ 4 $ — $ (50) Foreign currency exchange rate 13 (12) 53 — 381 Total cash flow hedges 18 (12) 57 — 331 Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate (4,001) — — — — Foreign currency exchange rate 120 (48) — — — Credit (2) — — — — Equity market 590 — — — — Embedded 2,743 — — — — Total non-qualifying hedges (550) (48) — — — Total $ (532) $ (60) $ 57 $ — $ 331
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The amount and location of gains (losses), including earned income, recognized for derivatives and gains (losses) pertaining to hedged items reported in net derivative gains (losses) were as follows: Year Ended December 31, 2024 Net Derivative Gains (Losses) Recognized for Derivatives Net Derivative Gains (Losses) Recognized for Hedged Items Net Investment Income Policyholder Benefits and Claims Amount of Gains (Losses) Deferred in AOCI (In millions) Derivatives Designated as Hedging Instruments: Cash flow hedges: Interest rate $ 2 $ — $ 3 $ 8 $ 9 Foreign currency exchange rate 13 (10) 51 — 127 Total cash flow hedges 15 (10) 54 8 136 Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate (1,690) — — — — Foreign currency exchange rate 69 (9) — — — Credit 14 — — — — Equity market 1,894 — — — — Embedded (3,951) — — — — Total non-qualifying hedges (3,664) (9) — — — Total $ (3,649) $ (19) $ 54 $ 8 $ 136 Year Ended December 31, 2023 Net Derivative Gains (Losses) Recognized for Derivatives Net Derivative Gains (Losses) Recognized for Hedged Items Net Investment Income Policyholder Benefits and Claims Amount of Gains (Losses) Deferred in AOCI (In millions) Derivatives Designated as Hedging Instruments: Cash flow hedges: Interest rate $ 1 $ — $ 3 $ — $ (1) Foreign currency exchange rate 7 (8) 52 — (275) Total cash flow hedges 8 (8) 55 — (276) Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate (384) — — — — Foreign currency exchange rate (15) (13) — — — Credit 32 — — — — Equity market 570 — — — — Embedded (4,097) — — — — Total non-qualifying hedges (3,894) (13) — — — Total $ (3,886) $ (21) $ 55 $ — $ (276) Year Ended December 31, 2022 Net Derivative Gains (Losses) Recognized for Derivatives Net Derivative Gains (Losses) Recognized for Hedged Items Net Investment Income Policyholder Benefits and Claims Amount of Gains (Losses) Deferred in AOCI (In millions) Derivatives Designated as Hedging Instruments: Cash flow hedges: Interest rate $ 5 $ — $ 4 $ — $ (50) Foreign currency exchange rate 13 (12) 53 — 381 Total cash flow hedges 18 (12) 57 — 331 Derivatives Not Designated or Not Qualifying as Hedging Instruments: Interest rate (4,001) — — — — Foreign currency exchange rate 120 (48) — — — Credit (2) — — — — Equity market 590 — — — — Embedded 2,743 — — — — Total non-qualifying hedges (550) (48) — — — Total $ (532) $ (60) $ 57 $ — $ 331
Schedule of estimated fair value, maximum amount of future payments and weighted average years to maturity of written credit default swaps	The estimated fair value, maximum amount of future payments and weighted average years to maturity of written credit default swaps were as follows at: December 31, 2024 2023 Rating Agency Designation of Referenced Estimated Maximum Weighted Average Years to Maturity (2) Estimated Maximum Weighted Average Years to Maturity (2) (Dollars in millions) Aaa/Aa/A $ 2 $ 100 2.7 $ 6 $ 419 1.6 Baa 7 300 4.5 19 958 4.9 Ba 10 376 4.8 2 24 3.0 Caa and Lower — 4 1.0 — 4 2.0 Total $ 19 $ 780 4.4 $ 27 $ 1,405 3.9 _______________ (1) The Company has written credit protection on both single name and index references. The rating agency designations are based on availability and the midpoint of the applicable ratings among Moody’s, S&P and Fitch. If no rating is available from a rating agency, then an internally developed rating is used. (2) The weighted average years to maturity of the credit default swaps is calculated based on weighted average gross notional amounts.
Estimated Fair Value of Derivative Assets after Master Netting Agreements and Cash Collateral	The estimated fair values of net derivative assets and net derivative liabilities after the application of master netting agreements and collateral were as follows at: Gross Amounts Not Offset on the Consolidated Balance Sheets Gross Amount Recognized Financial Instruments (1) Collateral Received/Pledged (2) Net Amount Securities Collateral Received/Pledged (3) Net Amount After Securities Collateral (In millions) December 31, 2024 Derivative assets $ 4,140 $ (3,039) $ (540) $ 561 $ (559) $ 2 Derivative liabilities $ 5,353 $ (3,039) $ — $ 2,314 $ (2,306) $ 8 December 31, 2023 Derivative assets $ 3,506 $ (3,112) $ (164) $ 230 $ (194) $ 36 Derivative liabilities $ 4,925 $ (3,112) $ (8) $ 1,805 $ (1,805) $ — _______________ (1) Represents amounts subject to an enforceable master netting agreement or similar agreement. (2) The amount of cash collateral offset in the table above is limited to the net estimated fair value of derivatives after application of netting agreement. (3) Securities collateral received from counterparties is not reported on the consolidated balance sheets and may not be sold or re-pledged unless the counterparty is in default. Amounts do not include excess of collateral pledged or received.
Estimated Fair Value of Derivative Liabilities after Master Netting Agreements and Cash Collateral	The estimated fair values of net derivative assets and net derivative liabilities after the application of master netting agreements and collateral were as follows at: Gross Amounts Not Offset on the Consolidated Balance Sheets Gross Amount Recognized Financial Instruments (1) Collateral Received/Pledged (2) Net Amount Securities Collateral Received/Pledged (3) Net Amount After Securities Collateral (In millions) December 31, 2024 Derivative assets $ 4,140 $ (3,039) $ (540) $ 561 $ (559) $ 2 Derivative liabilities $ 5,353 $ (3,039) $ — $ 2,314 $ (2,306) $ 8 December 31, 2023 Derivative assets $ 3,506 $ (3,112) $ (164) $ 230 $ (194) $ 36 Derivative liabilities $ 4,925 $ (3,112) $ (8) $ 1,805 $ (1,805) $ — _______________ (1) Represents amounts subject to an enforceable master netting agreement or similar agreement. (2) The amount of cash collateral offset in the table above is limited to the net estimated fair value of derivatives after application of netting agreement. (3) Securities collateral received from counterparties is not reported on the consolidated balance sheets and may not be sold or re-pledged unless the counterparty is in default. Amounts do not include excess of collateral pledged or received.
Schedule of Derivative Instruments	The aggregate estimated fair values of derivatives in a net liability position containing such credit-contingent provisions and the aggregate estimated fair value of assets posted as collateral for such instruments were as follows at: December 31, 2024 2023 (In millions) Estimated fair value of derivatives in a net liability position (1) $ 2,314 $ 1,813 Estimated fair value of collateral provided (2): Fixed maturity securities $ 4,883 $ 4,811 _______________ (1) After taking into consideration the existence of netting agreements. (2) Substantially all of the Company’s collateral arrangements provide for daily posting of collateral for the full value of the derivative contract. As a result, if the credit-contingent provisions of derivative contracts in a net liability position were triggered, minimal additional assets would be required to be posted as collateral or needed to settle the instruments immediately. Additionally, the Company is required to pledge initial margin for certain new OTC-bilateral derivative transactions to third-party custodians.

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Recurring Fair Value Measurements	The assets and liabilities measured at estimated fair value on a recurring basis and their corresponding placement in the fair value hierarchy are presented in the tables below. Investments that do not have a readily determinable fair value and are measured at net asset value (or equivalent) as a practical expedient to estimated fair value are excluded from the fair value hierarchy. December 31, 2024 Fair Value Hierarchy Level 1 Level 2 Level 3 Total Estimated Fair Value (In millions) Assets Fixed maturity securities: U.S. corporate $ — $ 36,427 $ 696 $ 37,123 Foreign corporate — 11,434 396 11,830 RMBS — 7,270 17 7,287 U.S. government and agency 2,731 4,016 — 6,747 CMBS — 6,330 26 6,356 ABS — 5,990 322 6,312 State and political subdivision — 3,441 — 3,441 Foreign government — 938 21 959 Total fixed maturity securities 2,731 75,846 1,478 80,055 Equity securities 56 6 15 77 Short-term investments 1,414 452 2 1,868 Derivative assets: (1) Interest rate — 287 — 287 Foreign currency exchange rate — 557 7 564 Credit — 17 2 19 Equity market — 3,265 — 3,265 Total derivative assets — 4,126 9 4,135 Embedded derivatives on index-linked annuities (2) — — 47 47 Market risk benefit assets — — 1,092 1,092 Separate account assets 3 85,633 — 85,636 Total assets $ 4,204 $ 166,063 $ 2,643 $ 172,910 Liabilities Market risk benefit liabilities $ — $ — $ 8,329 $ 8,329 Derivative liabilities: (1) Interest rate — 2,735 — 2,735 Foreign currency exchange rate — 25 — 25 Equity market 1 2,487 — 2,488 Total derivative liabilities 1 5,247 — 5,248 Embedded derivatives on index-linked annuities (2) — — 11,540 11,540 Total liabilities $ 1 $ 5,247 $ 19,869 $ 25,117 December 31, 2023 Fair Value Hierarchy Level 1 Level 2 Level 3 Total Estimated (In millions) Assets Fixed maturity securities: U.S. corporate $ — $ 34,760 $ 995 $ 35,755 Foreign corporate — 11,340 325 11,665 RMBS — 7,415 15 7,430 U.S. government and agency 3,786 4,633 — 8,419 CMBS — 6,371 39 6,410 ABS — 6,080 326 6,406 State and political subdivision — 3,874 — 3,874 Foreign government — 996 36 1,032 Total fixed maturity securities 3,786 75,469 1,736 80,991 Equity securities 55 22 25 102 Short-term investments 614 555 — 1,169 Derivative assets: (1) Interest rate — 245 — 245 Foreign currency exchange rate — 437 12 449 Credit — 21 6 27 Equity market — 2,993 — 2,993 Total derivative assets — 3,696 18 3,714 Embedded derivatives on index-linked annuities (2) — — — — Market risk benefit assets — — 656 656 Separate account assets 20 88,251 — 88,271 Total assets $ 4,475 $ 167,993 $ 2,435 $ 174,903 Liabilities Market risk benefit liabilities $ — $ — $ 10,323 $ 10,323 Derivative liabilities: (1) Interest rate — 2,209 — 2,209 Foreign currency exchange rate — 55 — 55 Equity market — 2,824 — 2,824 Total derivative liabilities — 5,088 — 5,088 Embedded derivatives on index-linked annuities (2) — — 8,186 8,186 Total liabilities $ — $ 5,088 $ 18,509 $ 23,597 _______________ (1) Derivative assets are reported in other invested assets and derivative liabilities are reported in other liabilities. The amounts are presented gross in the tables above to reflect the presentation on the consolidated balance sheets. (2) Embedded derivative assets on index-linked annuities are reported in premiums and other receivables. Embedded derivative liabilities on index-linked annuities are reported in policyholder account balances.
Fair Value Measurement Inputs and Valuation Techniques	Certain quantitative information about the significant unobservable inputs used in the fair value measurement, and the sensitivity of the estimated fair value to changes in those inputs, for the more significant asset and liability classes measured at fair value on a recurring basis using significant unobservable inputs (Level 3) were as follows at: December 31, 2024 December 31, 2023 Impact of Valuation Techniques Significant Range Range Market Risk Benefits Variable annuity guaranteed minimum benefits • Discounted cash flows • Mortality rates 0.04% - 12.90% 0.04% - 12.90% Decrease (1) • Lapse rates 1.00% - 20.20% 1.00% - 22.80% Decrease (2) • Utilization rates 0.00% - 25.00% 0.00% - 25.00% Increase (3) • Withdrawal rates 0.00% - 10.00% 0.00% - 10.00% (4) • Long-term equity volatilities 12.22% - 37.04% 12.59% - 22.50% Increase (5) • Nonperformance risk spread 0.20% - 1.19% 0.76% - 1.63% Decrease (6) Embedded Derivatives Registered index-linked annuity crediting rates • Option pricing techniques • Mortality rates 0.03% - 7.86% 0.03% - 9.24% Decrease (1) • Lapse rates 1.00% - 62.30% 1.00% - 62.30% Decrease (2) • Withdrawal rates 0.50% - 13.00% 0.50% - 9.00% (4) • Nonperformance risk spread 0.30% - 1.63% 0.45% - 1.74% Decrease (6) _______________ (1) Mortality rates vary by age and by demographic characteristics such as gender. The range shown reflects the mortality rate for policyholders between 35 and 90 years old. Mortality rate assumptions are set based on company experience and include an assumption for mortality improvement. (2) The lapse rate range reflects base lapse rates for major product categories for duration 1-20. Base lapse rates are adjusted at the contract level based on a comparison of the actuarially calculated guaranteed values and the current policyholder account value, as well as other factors, such as the applicability of any surrender charges. For variable annuity guarantees, a dynamic lapse function reduces the base lapse rate when the guaranteed amount is greater than the account value as in-the-money contracts are less likely to lapse. Lapse rates are also generally assumed to be lower in periods when a surrender charge applies. (3) The utilization rate assumption for variable annuity guarantees estimates the percentage of contract holders with a GMIB or lifetime withdrawal benefit who will elect to utilize the benefit upon becoming eligible in a given year. The range shown represents the floor and cap of the GMIB dynamic election rates across varying levels of in-the-money. For lifetime withdrawal guarantee riders, the assumption is that everyone will begin withdrawals once account value reaches zero which is equivalent to a 100% utilization rate. Utilization rates may vary by the type of guarantee, the amount by which the guaranteed amount is greater than the account value, the contract’s withdrawal history and by the age of the policyholder. (4) The withdrawal rate represents the percentage of account balance that any given policyholder will elect to withdraw from the contract each year. The withdrawal rate assumption varies by age and duration of the contract, and also by other factors such as benefit type. For any given contract, withdrawal rates vary throughout the period over which cash flows are projected for purposes of valuing the embedded derivative. For variable annuity GMWBs, any increase (decrease) in withdrawal rates results in an increase (decrease) in the estimated fair value of the guarantees. For variable annuity GMABs and GMIBs, any increase (decrease) in withdrawal rates results in a decrease (increase) in the estimated fair value. (5) Long-term equity volatilities represent equity volatility beyond the period for which observable equity volatilities are available. For any given contract, long-term equity volatility rates vary throughout the period over which cash flows are projected for purposes of valuing MRBs. (6) Nonperformance risk spread varies by duration. For any given contract, multiple nonperformance risk spreads will apply, depending on the duration of the cash flow being discounted for purposes of valuing the MRB or embedded derivative.
Fair Value, Measured on Recurring Basis, Unobservable Input Reconciliation	The changes in assets and (liabilities) measured at estimated fair value on a recurring basis using significant unobservable inputs (excluding MRBs disclosed in Note 4) were summarized as follows: Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Fixed Maturity Securities Corporate (1) Structured Securities Foreign Government Equity Short-term Investments Net Derivatives (2) Embedded Derivatives on Index-Linked Annuities (In millions) Balance, January 1, 2023 $ 1,787 $ 365 $ 38 $ 27 $ — $ 35 $ (3,932) Total realized/unrealized gains (losses) included in net income (loss) (3) (4) (11) — — (3) — (6) (4,097) Total realized/unrealized gains (losses) included in AOCI 28 5 3 — — (3) — Purchases (5) 162 85 — 2 — 4 — Sales (5) (116) (22) (2) (1) — — — Issuances (5) — — — — — — — Settlements (5) — — — — — — (157) Transfers into Level 3 (6) 188 3 — — — — — Transfers out of Level 3 (6) (718) (56) (3) — — (12) — Balance, December 31, 2023 1,320 380 36 25 — 18 (8,186) Total realized/unrealized gains (losses) included in net income (loss) (3) (4) (67) 1 — (10) — 1 (3,951) Total realized/unrealized gains (losses) included in AOCI 2 3 — — — — — Purchases (5) 323 137 — — 2 — — Sales (5) (239) (87) — — — — — Issuances (5) — — — — — — — Settlements (5) — — — — — (4) 644 Transfers into Level 3 (6) 53 — — — — — — Transfers out of Level 3 (6) (300) (69) (15) — — (6) — Balance, December 31, 2024 $ 1,092 $ 365 $ 21 $ 15 $ 2 $ 9 $ (11,493) Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at December 31, 2022 (7) $ 3 $ — $ — $ 1 $ — $ (1) $ 2,485 Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at December 31, 2023 (7) $ (11) $ — $ — $ (2) $ — $ (5) $ (4,513) Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at December 31, 2024 (7) $ (59) $ — $ — $ — $ — $ 1 $ (4,687) Changes in unrealized gains (losses) included in OCI for the instruments still held as of December 31, 2022 (7) $ (268) $ (23) $ (10) $ — $ — $ 17 $ — Changes in unrealized gains (losses) included in OCI for the instruments still held as of December 31, 2023 (7) $ 11 $ 4 $ 3 $ — $ — $ (3) $ — Changes in unrealized gains (losses) included in OCI for the instruments still held as of December 31, 2024 (7) $ (33) $ — $ — $ — $ — $ — $ — Gains (Losses) Data for the year ended December 31, 2022: Total realized/unrealized gains (losses) included in net income (loss) (3) (4) $ (5) $ 1 $ — $ — $ — $ (9) $ 2,743 Total realized/unrealized gains (losses) included in AOCI $ (266) $ (23) $ (10) $ — $ — $ 17 $ — _______________ (1) Comprised of U.S. and foreign corporate securities. (2) Freestanding derivative assets and liabilities are reported net for purposes of the rollforward. (3) Amortization of premium/accretion of discount is included in net investment income. Changes in the allowance for credit losses and direct write-offs are charged to net income (loss) on securities are included in net investment gains (losses). Lapses associated with net embedded derivatives are included in net derivative gains (losses). Substantially all realized/unrealized gains (losses) included in net income (loss) for net derivatives and net embedded derivatives are reported in net derivative gains (losses). (4) Interest and dividend accruals, as well as cash interest coupons and dividends received, are excluded from the rollforward. (5) Items purchased/issued and then sold/settled in the same period are excluded from the rollforward. Fees attributed to embedded derivatives are included in settlements. (6) Gains and losses, in net income (loss) and OCI, are calculated assuming transfers into and/or out of Level 3 occurred at the beginning of the period. Items transferred into and out of Level 3 in the same period are excluded from the rollforward. (7) Changes in unrealized gains (losses) included in net income (loss) for fixed maturities are reported in either net investment income or net investment gains (losses). Substantially all changes in unrealized gains (losses) included in net income (loss) for net derivatives and net embedded derivatives are reported in net derivative gains (losses).
Fair Value of Financial Instruments Carried at Other Than Fair Value	The carrying values and estimated fair values for such financial instruments, and their corresponding placement in the fair value hierarchy, are summarized as follows at: December 31, 2024 Fair Value Hierarchy Carrying Level 1 Level 2 Level 3 Total (In millions) Assets Mortgage loans $ 23,286 $ — $ — $ 21,373 $ 21,373 Policy loans $ 2,024 $ — $ 1,161 $ 943 $ 2,104 Other invested assets $ 233 $ — $ 222 $ 11 $ 233 Premiums, reinsurance and other receivables $ 8,527 $ — $ 55 $ 9,222 $ 9,277 Liabilities Policyholder account balances $ 31,928 $ — $ — $ 31,563 $ 31,563 Long-term debt $ 3,155 $ — $ 2,787 $ — $ 2,787 Other liabilities $ 1,338 $ — $ 691 $ 647 $ 1,338 Separate account liabilities $ 1,246 $ — $ 1,246 $ — $ 1,246 December 31, 2023 Fair Value Hierarchy Carrying Level 1 Level 2 Level 3 Total (In millions) Assets Mortgage loans $ 22,508 $ — $ — $ 20,609 $ 20,609 Policy loans $ 1,331 $ — $ 518 $ 937 $ 1,455 Other invested assets $ 257 $ — $ 245 $ 12 $ 257 Premiums, reinsurance and other receivables $ 7,577 $ — $ 88 $ 7,636 $ 7,724 Liabilities Policyholder account balances $ 31,471 $ — $ — $ 30,606 $ 30,606 Long-term debt $ 3,156 $ — $ 2,769 $ — $ 2,769 Other liabilities $ 1,142 $ — $ 463 $ 679 $ 1,142 Separate account liabilities $ 1,150 $ — $ 1,150 $ — $ 1,150

Long-term Debt (Tables)

Long-term Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt outstanding was as follows at: December 31, 2024 2023 Stated Interest Rate Maturity Face Value Carrying Value Face Value Carrying Value (In millions) Senior notes (1) 3.700% 2027 $ 757 $ 756 $ 757 $ 756 Senior notes (1) 5.625% 2030 615 615 615 614 Senior notes (1) 4.700% 2047 1,014 1,002 1,014 1,001 Senior notes (1) 3.850% 2051 400 397 400 397 Junior subordinated debentures (1) 6.250% 2058 375 364 375 364 Other long-term debt (2) 7.028% 2030 21 21 24 24 Total long-term debt (3) $ 3,182 $ 3,155 $ 3,185 $ 3,156 _______________ (1) Interest on senior notes is payable semi-annually. Interest on junior subordinated debentures is payable quarterly subject to BHF’s right to defer interest payments in accordance with the terms of the debentures. (2) Represents non-recourse debt for which creditors have no access, subject to customary exceptions, to the general assets of the Company other than recourse to certain investment companies. (3) Includes unamortized debt issuance costs, discounts and premiums, as applicable, totaling net $27 million and $30 million for the senior notes and junior subordinated debentures on a combined basis at December 31, 2024 and 2023, respectively.

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Preferred Stock Authorized, Issued and Outstanding	Preferred stock shares authorized, issued and outstanding were as follows at: December 31, 2024 2023 Shares Authorized Shares Issued Shares Outstanding Shares Authorized Shares Issued Shares Outstanding 6.600% Non-Cumulative Preferred Stock, Series A 17,000 17,000 17,000 17,000 17,000 17,000 6.750% Non-Cumulative Preferred Stock, Series B 16,100 16,100 16,100 16,100 16,100 16,100 5.375% Non-Cumulative Preferred Stock, Series C 23,000 23,000 23,000 23,000 23,000 23,000 4.625% Non-Cumulative Preferred Stock, Series D 14,000 14,000 14,000 14,000 14,000 14,000 Not designated 99,929,900 — — 99,929,900 — — Total 100,000,000 70,100 70,100 100,000,000 70,100 70,100
Preferred Stock Dividends Declared	The per share and aggregate dividends declared for BHF’s preferred stock by series were as follows: Years Ended December 31, 2024 2023 2022 Series Per Share Aggregate Per Share Aggregate Per Share Aggregate (In millions, except per share data) A $1,650.00 $ 28 $1,650.00 $ 28 $1,650.00 $ 28 B $1,687.52 28 $1,687.52 28 $1,687.52 28 C $1,343.76 30 $1,343.76 30 $1,343.76 31 D $1,156.24 16 $1,156.24 16 $1,262.23 17 Total $ 102 $ 102 $ 104
Common Stock Outstanding Roll Forward	Changes in common shares outstanding were as follows: Years Ended December 31, 2024 2023 2022 Shares outstanding at beginning of year 63,503,355 68,278,068 77,870,072 Shares issued 661,758 665,146 639,980 Shares repurchased (1) (5,536,064) (5,439,859) (10,231,984) Shares outstanding at end of year 58,629,049 63,503,355 68,278,068 _______________ (1) Includes shares of common stock withheld with respect to tax withholding obligations associated with the vesting of share-based compensation awards under the Company’s publicly announced benefit plans or programs.
Share-based Payment Arrangement, Cost by Plan	The following table presents total share-based compensation expense: Years Ended December 31, 2024 2023 2022 (In millions) RSUs $ 14 $ 13 $ 13 PSUs 8 15 8 Employee stock purchase plan 1 1 1 Total share-based compensation expense $ 23 $ 29 $ 22 Income tax benefit $ 5 $ 6 $ 5
Share-based Payment Arrangement, Outstanding Award, Activity, Excluding Options	The following table presents a summary of PSU and RSU activity: RSUs PSUs Units Weighted Average Grant Date Fair Value Units Weighted Average Grant Date Fair Value Nonvested at January 1, 2024 516,968 $ 50.57 820,177 $ 48.40 Granted 332,770 $ 46.27 301,776 $ 46.16 Performance factor adjustment — $ — 20,984 $ 41.26 Forfeited (8,528) $ 50.27 (14,459) $ 50.50 Vested (272,802) $ 48.12 (321,260) $ 41.26 Nonvested at December 31, 2024 568,408 $ 49.24 807,218 $ 50.18
Schedules of statutory net income, capital and surplus and reserve strengthening by subsidiary including dividend restrictions	Statutory net income (loss) was as follows: Years Ended December 31, Company State of Domicile 2024 2023 2022 (In millions) Brighthouse Life Insurance Company Delaware $ (787) $ (3,131) $ 1,373 New England Life Insurance Company Massachusetts $ 65 $ 41 $ 83 Statutory capital and surplus was as follows at: December 31, Company 2024 2023 (In millions) Brighthouse Life Insurance Company $ 3,673 $ 4,623 New England Life Insurance Company $ 206 $ 141 The table below sets forth the dividends permitted to be paid by certain of the Company’s insurance companies without insurance regulatory approval and dividends paid: 2025 2024 2023 2022 Company Permitted Without Approval (1) Paid (2) Paid (2) Paid (2) (In millions) Brighthouse Life Insurance Company (3) $ — $ — $ 266 $ — New England Life Insurance Company $ 67 $ — $ 84 $ 38 ______________ (1) Reflects dividend amounts that may be paid during 2025 without prior regulatory approval. (2) Reflects all amounts paid, including those requiring regulatory approval. (3) Any payment of dividends in 2025 would be considered an extraordinary dividend subject to regulatory approval due to negative unassigned funds (surplus).
Components of Accumulated Other Comprehensive Income (Loss)	Information regarding changes in the balances of each component of AOCI was as follows: Unrealized Investment Gains (Losses), Net of Related Offsets (1) Unrealized Changes in Nonperformance Risk on Market Risk Benefits Changes in Discount Rates on the Liability for Future Policy Benefits Other (2) Total (In millions) Balance at December 31, 2021 $ 5,285 $ 239 $ (3,230) $ (2,199) $ (48) $ 47 OCI before reclassifications (14,741) 331 2,344 4,075 (16) (8,007) Deferred income tax benefit (expense) (3) 3,074 (48) (492) (856) 4 1,682 AOCI before reclassifications, net of income tax (6,382) 522 (1,378) 1,020 (60) (6,278) Amounts reclassified from AOCI 238 (22) — — 2 218 Deferred income tax benefit (expense) (3) (50) 4 — — — (46) Amounts reclassified from AOCI, net of income tax 188 (18) — — 2 172 Balance at December 31, 2022 (6,194) 504 (1,378) 1,020 (58) (6,106) OCI before reclassifications 2,149 (276) (636) (380) 9 866 Deferred income tax benefit (expense) (3) (451) 58 133 80 (2) (182) AOCI before reclassifications, net of income tax (4,496) 286 (1,881) 720 (51) (5,422) Amounts reclassified from AOCI 226 (11) — — 7 222 Deferred income tax benefit (expense) (3) (47) 2 — — (1) (46) Amounts reclassified from AOCI, net of income tax 179 (9) — — 6 176 Balance at December 31, 2023 (4,317) 277 (1,881) 720 (45) (5,246) OCI before reclassifications (1,226) 136 352 543 (22) (217) Deferred income tax benefit (expense) (3) 257 (28) (74) (114) 4 45 AOCI before reclassifications, net of income tax (5,286) 385 (1,603) 1,149 (63) (5,418) Amounts reclassified from AOCI 189 (18) — — 6 177 Deferred income tax benefit (expense) (3) (40) 4 — — (1) (37) Amounts reclassified from AOCI, net of income tax 149 (14) — — 5 140 Balance at December 31, 2024 $ (5,137) $ 371 $ (1,603) $ 1,149 $ (58) $ (5,278) _______________ (1) See Note 8 for information on offsets to investments related to future policy benefits. (2) Includes OCI related to foreign currency translation and defined benefit plan gains and losses. (3) The effects of income taxes on amounts recorded to AOCI are also recognized in AOCI. These income tax effects are released from AOCI when the related activity is reclassified into results from operations.
Reclassification out of Accumulated Other Comprehensive Income (Loss)	Information regarding amounts reclassified out of each component of AOCI was as follows: AOCI Components Amounts Reclassified from AOCI Consolidated Statements of Operations Locations Years Ended December 31, 2024 2023 2022 (In millions) Net unrealized investment gains (losses): Net unrealized investment gains (losses) $ (174) $ (198) $ (186) Net investment gains (losses) Net unrealized investment gains (losses) (15) (28) (52) Net derivative gains (losses) Net unrealized investment gains (losses), before income tax (189) (226) (238) Income tax (expense) benefit 40 47 50 Net unrealized investment gains (losses), net of income tax (149) (179) (188) Unrealized gains (losses) on derivatives - cash flow hedges: Interest rate swaps 2 1 5 Net derivative gains (losses) Interest rate swaps 3 3 4 Net investment income Foreign currency swaps 13 7 13 Net derivative gains (losses) Gains (losses) on cash flow hedges, before income tax 18 11 22 Income tax (expense) benefit (4) (2) (4) Gains (losses) on cash flow hedges, net of income tax 14 9 18 Defined benefit plans adjustment: Amortization of net actuarial gains (losses) (6) (7) (2) Amortization of defined benefit plans, before income tax (6) (7) (2) Income tax (expense) benefit 1 1 — Amortization of defined benefit plans, net of income tax (5) (6) (2) Total reclassifications, net of income tax $ (140) $ (176) $ (172)

Other Revenues and Other Expe_2

Other Revenues and Other Expenses (Tables)	12 Months Ended
	Dec. 31, 2024
Other Income and Expenses [Abstract]
Other Expenses	Information on other expenses was as follows: Years Ended December 31, 2024 2023 2022 (In millions) Compensation $ 408 $ 418 $ 351 Contracted services and other labor costs 285 312 296 Transition services agreements 22 32 58 Establishment costs — — 66 Premium and other taxes, licenses and fees 60 61 54 Separate account fees 365 366 407 Volume related costs, excluding compensation, net of DAC capitalization 577 540 513 Interest expense on debt 152 153 153 Other 77 95 187 Total other expenses $ 1,946 $ 1,977 $ 2,085

Income Tax (Tables)

Income Tax (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Provision for income tax from continuing operations	The provision for income tax was as follows: Years Ended December 31, 2024 2023 2022 (In millions) Current: Federal $ (10) $ 7 $ (65) State and local 12 12 12 Subtotal 2 19 (53) Deferred: Federal 27 (386) 901 Provision for income tax expense (benefit) $ 29 $ (367) $ 848
Income tax for continuing operations effective rate reconciliation	The reconciliation of the income tax provision at the statutory tax rate to the provision for income tax as reported was as follows: Years Ended December 31, 2024 2023 2022 (Dollars in millions) Tax provision at statutory rate $ 88 $ (310) $ 994 Tax effect of: Resolution of prior years 6 — (76) Dividends received deduction (34) (34) (36) Tax credits (25) (9) (20) Change in uncertain tax benefits (18) — (15) Return to provision (12) (5) (6) Adjustments to deferred tax 14 — (2) Change in valuation allowance — (18) — State tax, net of federal benefit 10 9 10 Other, net — — (1) Provision for income tax expense (benefit) $ 29 $ (367) $ 848 Effective tax rate 7 % 25 % 18 %
Components of deferred tax assets and liabilities	Net deferred income tax assets and liabilities consisted of the following at: December 31, 2024 2023 (In millions) Deferred income tax assets: Net unrealized investment losses $ 1,267 $ 1,074 Net operating loss carryforwards 2,004 1,845 Investments, including derivatives 147 213 Tax credit carryforwards 190 190 Employee benefits 27 29 Intangibles 60 64 Other 4 — Total deferred income tax assets 3,699 3,415 Less: Valuation allowance 1 1 Total net deferred income tax assets 3,698 3,414 Deferred income tax liabilities: Policyholder liabilities and receivables 1,174 863 DAC 649 657 Other — 1 Total deferred income tax liabilities 1,823 1,521 Net deferred income tax asset (liability) $ 1,875 $ 1,893
Summary of Operating Loss Carryforwards	The following table sets forth the net operating loss carryforwards for tax purposes at December 31, 2024. Net Operating Loss Carryforwards (In millions) Expiration 2032-2037 $ 1,943 Indefinite 7,598 $ 9,541
Summary of Tax Credit Carryforwards	The following table sets forth the general business credits and foreign tax credits available for carryforward for tax purposes at December 31, 2024. Tax Credit Carryforwards General Business Credits Foreign Tax Credits (In millions) Expiration 2027-2031 $ — $ 121 2032-2036 12 43 2037-2041 13 — 2042-2044 1 — Indefinite — — $ 26 $ 164
Schedule of Unrecognized Tax Benefits Roll Forward	A reconciliation of the beginning and ending amount of unrecognized tax benefits was as follows: Years Ended December 31, 2024 2023 2022 (In millions) Balance at January 1, $ 19 $ 19 $ 35 Additions for tax positions of prior years — — 6 Reductions for tax positions of prior years (6) — — Additions for tax positions of current year — — — Reductions for tax positions of current year — — — Settlements with tax authorities — — — Lapses of statutes of limitations (12) — (22) Balance at December 31, $ 1 $ 19 $ 19 Unrecognized tax benefits that, if recognized would impact the effective rate $ 1 $ 19 $ 19

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Common Share	The calculation of earnings per common share was as follows: Years Ended December 31, 2024 2023 2022 (In millions, except share and per share data) Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders $ 286 $ (1,214) $ 3,775 Weighted average common shares outstanding — basic 61,199,247 66,013,645 72,970,249 Dilutive effect of share-based awards 401,135 — 610,919 Weighted average common shares outstanding — diluted 61,600,382 66,013,645 73,581,168 Earnings per common share: Basic $ 4.67 $ (18.39) $ 51.73 Diluted $ 4.64 $ (18.39) $ 51.30

Business, Basis of Presentati_3

Business, Basis of Presentation and Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Proceeds from Sale of Short-Term Investments	$ 3,300	$ 4,200	$ 4,900
Payments to Acquire Short-Term Investments	$ 4,000	$ 4,200	$ 4,100
Securities lending program, percentage of collateral to loan at inception	102%
Securities lending program, percentage of collateral to loan for duration, minimum	100%

Segment Information (Operating

Segment Information (Operating Results) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total revenues	$ 4,724	$ 4,117	$ 6,873
Policyholder benefits and claims	2,294	2,676	2,193
Interest credited to policyholder account balances, excluding market value adjustments	2,136	1,825	1,338
Amortization of DAC and VOBA	599	620	629
Provision for income tax expense (benefit)	29	(367)	848
Less: Net income (loss) attributable to noncontrolling interests	5	5	5
Less: Preferred stock dividends	102	102	104
Net investment gains (losses)	(295)	(246)	(248)
Investment Hedge Adjustment	(5,222)	(4,664)	(4,138)
Change in market risk benefits	2,673	1,507	4,104
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders	286	(1,214)	3,775
Annuities
Segment Reporting Information [Line Items]
Amortization of DAC and VOBA	505	516	515
Interest revenue	2,859	2,568	2,261
Life
Segment Reporting Information [Line Items]
Amortization of DAC and VOBA	94	104	114
Interest revenue	466	437	442
Run-off
Segment Reporting Information [Line Items]
Amortization of DAC and VOBA	0	0	0
Interest revenue	1,234	1,141	1,166
Corporate & Other
Segment Reporting Information [Line Items]
Amortization of DAC and VOBA	0	0	0
Interest revenue	694	623	340
Operating Segments
Segment Reporting Information [Line Items]
Total revenues	4,724	4,117	6,873
Adjusted earnings (loss)	1,319	969	1,184
Operating Segments | Annuities
Segment Reporting Information [Line Items]
Total revenues	1,932	944	5,492
Less: Revenues excluded from adjusted earnings (1)	(3,350)	(3,934)	966
Policyholder benefits and claims	479	480	380
Interest credited to policyholder account balances, excluding market value adjustments	1,351	1,054	897
Amortization of DAC and VOBA	505	516	515
Interest expense on debt	0	0	0
Other expenses (2)	1,399	1,391	1,417
Provision for income tax expense (benefit)	297	268	247
Less: Net income (loss) attributable to noncontrolling interests	0	0	0
Less: Preferred stock dividends	0	0	0
Adjusted earnings (loss)	1,251	1,169	1,070
Operating Segments | Life
Segment Reporting Information [Line Items]
Total revenues	1,113	1,199	1,182
Less: Revenues excluded from adjusted earnings (1)	(22)	(30)	(31)
Policyholder benefits and claims	710	894	800
Interest credited to policyholder account balances, excluding market value adjustments	105	97	75
Amortization of DAC and VOBA	94	104	114
Interest expense on debt	0	0	0
Other expenses (2)	188	203	130
Provision for income tax expense (benefit)	5	(16)	16
Less: Net income (loss) attributable to noncontrolling interests	0	0	0
Less: Preferred stock dividends	0	0	0
Adjusted earnings (loss)	33	(53)	78
Operating Segments | Run-off
Segment Reporting Information [Line Items]
Total revenues	996	1,405	(196)
Less: Revenues excluded from adjusted earnings (1)	(599)	(238)	(1,901)
Policyholder benefits and claims	1,105	1,302	1,013
Interest credited to policyholder account balances, excluding market value adjustments	243	274	290
Amortization of DAC and VOBA	0	0	0
Interest expense on debt	0	0	0
Other expenses (2)	166	167	293
Provision for income tax expense (benefit)	16	(23)	22
Less: Net income (loss) attributable to noncontrolling interests	0	0	0
Less: Preferred stock dividends	0	0	0
Adjusted earnings (loss)	65	(77)	87
Operating Segments | Corporate & Other
Segment Reporting Information [Line Items]
Total revenues	683	569	395
Less: Revenues excluded from adjusted earnings (1)	(23)	(56)	55
Policyholder benefits and claims	0	0	0
Interest credited to policyholder account balances, excluding market value adjustments	450	388	163
Amortization of DAC and VOBA	0	0	0
Interest expense on debt	152	153	153
Other expenses (2)	41	63	92
Provision for income tax expense (benefit)	(14)	(16)	(126)
Less: Net income (loss) attributable to noncontrolling interests	5	5	5
Less: Preferred stock dividends	102	102	104
Adjusted earnings (loss)	(30)	(70)	(51)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Interest credited to policyholder account balances, excluding market value adjustments	13	(12)	87
Provision for income tax expense (benefit)	275	580	(689)
Net investment gains (losses)	(295)	(246)	(248)
Investment Hedge Adjustment	(31)	(105)	(71)
Net derivative gains (losses), excluding investment hedge adjustments	(3,699)	(4,012)	(663)
Change in market risk benefits	$ 2,673	$ 1,507	$ 4,104

Segment Information (Total Asse

Segment Information (Total Assets by Segment) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total assets	$ 238,537	$ 236,340
Annuities
Segment Reporting Information [Line Items]
Total assets	163,830	160,775
Life
Segment Reporting Information [Line Items]
Total assets	26,261	25,504
Run-off
Segment Reporting Information [Line Items]
Total assets	24,873	26,828
Corporate & Other
Segment Reporting Information [Line Items]
Total assets	$ 23,573	$ 23,233

Segment Information (Premiums,

Segment Information (Premiums, Universal Life and Investment-Type Product Policy Fees and Other Revenues by Major Product Group) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total premiums, universal life and investment-type product policy fees and other revenues	$ 3,465	$ 3,606	$ 3,575
Annuity products
Segment Reporting Information [Line Items]
Total premiums, universal life and investment-type product policy fees and other revenues	2,426	2,319	2,268
Life insurance products
Segment Reporting Information [Line Items]
Total premiums, universal life and investment-type product policy fees and other revenues	1,018	1,280	1,298
Accident & health insurance
Segment Reporting Information [Line Items]
Total premiums, universal life and investment-type product policy fees and other revenues	$ 21	$ 7	$ 9

Insurance Liabilities (Future P

Insurance Liabilities (Future Policy Benefits Information by Product) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Liability for Future Policy Benefit, before Reinsurance	$ 31,475	$ 32,569
Future policy benefits	31,475	32,569
Term and Whole Life Insurance
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Liability for Future Policy Benefit, Expected Net Premium, before Reinsurance, after Discount Rate Change	2,808	2,974	$ 2,871	$ 3,325
Liability for Future Policy Benefit, Expected Net Premium, Original Discount Rate, before Cash Flow and Reinsurance	3,161	3,234	3,212	3,051
Liability for Future Policy Benefit, Expected Net Premium, Cumulative Increase (Decrease) from Model Refinements		4	0	122
Liability for Future Policy Benefit, Expected Net Premium, Cumulative Increase (Decrease) from Cash Flow Change		128	215	137
Liability for Future Policy Benefit, Expected Net Premium, Cumulative Increase (Decrease) of Actual Variance from Expected Experience		7	(14)	119
Liability for Future Policy Benefit, Expected Net Premium, Original Discount Rate, before Reinsurance, after Cash Flow Change		3,373	3,413	3,429
Liability for Future Policy Benefit, Expected Net Premium, Issuance	67	93	93
Liability for Future Policy Benefit, Expected Net Premium, Interest Income	113	112	116
Liability for Future Policy Benefit, Expected Net Premium, Net Premium Collected	(392)	(384)	(426)
AOCI, Liability for Future Policy Benefit, Expected Net Premium, before Tax	(353)	(260)	(341)
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change	5,325	5,507	5,279	6,426
Liability for Future Policy Benefit, Expected Future Policy Benefit, Original Discount Rate, before Cash Flow and Reinsurance	5,989	6,023	5,922	5,820
Liability for Future Policy Benefit, Expected Future Policy Benefit, Cumulative Increase (Decrease) from Model Refinements		10	0	135
Liability for Future Policy Benefit, Expected Future Policy Benefit, Cumulative Increase (Decrease) from Cash Flow Change		208	309	157
Liability for Future Policy Benefit, Expected Future Policy Benefit, Cumulative Increase (Decrease) of Actual Variance from Expected Experience		(9)	(15)	155
Liability for Future Policy Benefit, Expected Future Benefit, Original Discount Rate, before Reinsurance, after Cash Flow Change		6,232	6,216	6,267
Liability for Future Policy Benefit, Expected Future Policy Benefit, Issuance	72	99	101
Liability for Future Policy Benefit, Expected Future Policy Benefit, Interest Expense	219	217	222
Liability for Future Policy Benefit, Expected Future Policy Benefit, Benefit Payment	(534)	(509)	(668)
AOCI, Liability for Future Policy Benefit, Expected Future Policy Benefit, before Tax	(664)	(516)	(643)
Liability for Future Policy Benefit, before Reinsurance	2,517	2,533	2,408
Liability for Future Policy Benefit, Reinsurance Recoverable, after Allowance	29	42	45
Future policy benefits	$ 2,488	$ 2,491	$ 2,363
Liability for Future Policy Benefit, Weighted-Average Duration	7 years 7 months 6 days	8 years 8 months 12 days	8 years 4 months 24 days
Liability for Future Policy Benefit, Weighted-Average Interest Accretion Rate	3.94%	3.94%	3.97%
Liability for Future Policy Benefit, Current Weighted-Average Discount Rate	5.42%	4.94%	5.26%
Liability for Future Policy Benefit, Gross Premium Income	$ 575	$ 611	$ 639
Liability for Future Policy Benefit, Expected Future Gross Premium, Undiscounted, before Reinsurance	5,909	6,172	6,734
Liability for Future Policy Benefit, Expected Future Gross Premium, Discounted, before Reinsurance	4,352	4,642	4,991
Liability for Future Policy Benefit, Expected Future Policy Benefit, Undiscounted, before Reinsurance	8,164	8,332	8,184
Liability for Future Policy Benefit, Expected Future Policy Benefit, Discounted, before Reinsurance	5,989	6,023	5,922
Income Annuities
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Liability for Future Policy Benefit, Expected Net Premium, before Reinsurance, after Discount Rate Change	0	0	0	0
Liability for Future Policy Benefit, Expected Net Premium, Original Discount Rate, before Cash Flow and Reinsurance	0	0	0	0
Liability for Future Policy Benefit, Expected Net Premium, Cumulative Increase (Decrease) from Model Refinements		0	0	0
Liability for Future Policy Benefit, Expected Net Premium, Cumulative Increase (Decrease) from Cash Flow Change		0	0	0
Liability for Future Policy Benefit, Expected Net Premium, Cumulative Increase (Decrease) of Actual Variance from Expected Experience		0	0	0
Liability for Future Policy Benefit, Expected Net Premium, Original Discount Rate, before Reinsurance, after Cash Flow Change		0	0	0
Liability for Future Policy Benefit, Expected Net Premium, Issuance	0	0	0
Liability for Future Policy Benefit, Expected Net Premium, Interest Income	0	0	0
Liability for Future Policy Benefit, Expected Net Premium, Net Premium Collected	0	0	0
AOCI, Liability for Future Policy Benefit, Expected Net Premium, before Tax	0	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change	3,763	3,754	3,512	4,333
Liability for Future Policy Benefit, Expected Future Policy Benefit, Original Discount Rate, before Cash Flow and Reinsurance	4,161	4,031	3,897	3,865
Liability for Future Policy Benefit, Expected Future Policy Benefit, Cumulative Increase (Decrease) from Model Refinements		0	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit, Cumulative Increase (Decrease) from Cash Flow Change		(23)	0	56
Liability for Future Policy Benefit, Expected Future Policy Benefit, Cumulative Increase (Decrease) of Actual Variance from Expected Experience		0	(34)	(22)
Liability for Future Policy Benefit, Expected Future Benefit, Original Discount Rate, before Reinsurance, after Cash Flow Change		4,008	3,863	3,899
Liability for Future Policy Benefit, Expected Future Policy Benefit, Issuance	403	374	224
Liability for Future Policy Benefit, Expected Future Policy Benefit, Interest Expense	150	140	146
Liability for Future Policy Benefit, Expected Future Policy Benefit, Benefit Payment	(400)	(346)	(372)
AOCI, Liability for Future Policy Benefit, Expected Future Policy Benefit, before Tax	(398)	(277)	(385)
Liability for Future Policy Benefit, before Reinsurance	3,763	3,754	3,512
Liability for Future Policy Benefit, Reinsurance Recoverable, after Allowance	31	31	24
Future policy benefits	$ 3,732	$ 3,723	$ 3,488
Liability for Future Policy Benefit, Weighted-Average Duration	7 years 10 months 24 days	8 years 2 months 12 days	8 years 6 months
Liability for Future Policy Benefit, Weighted-Average Interest Accretion Rate	4.03%	3.97%	3.87%
Liability for Future Policy Benefit, Current Weighted-Average Discount Rate	5.47%	4.95%	5.27%
Liability for Future Policy Benefit, Gross Premium Income	$ 499	$ 488	$ 257
Liability for Future Policy Benefit, Expected Future Gross Premium, Undiscounted, before Reinsurance	0	0	0
Liability for Future Policy Benefit, Expected Future Gross Premium, Discounted, before Reinsurance	0	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit, Undiscounted, before Reinsurance	5,863	5,710	5,520
Liability for Future Policy Benefit, Expected Future Policy Benefit, Discounted, before Reinsurance	4,161	4,031	3,897
Structured Settlement and Pension Risk Transfer Annuities
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Liability for Future Policy Benefit, Expected Net Premium, before Reinsurance, after Discount Rate Change	0	0	0	0
Liability for Future Policy Benefit, Expected Net Premium, Original Discount Rate, before Cash Flow and Reinsurance	0	0	0	0
Liability for Future Policy Benefit, Expected Net Premium, Cumulative Increase (Decrease) from Model Refinements		0	0	0
Liability for Future Policy Benefit, Expected Net Premium, Cumulative Increase (Decrease) from Cash Flow Change		0	0	0
Liability for Future Policy Benefit, Expected Net Premium, Cumulative Increase (Decrease) of Actual Variance from Expected Experience		0	0	0
Liability for Future Policy Benefit, Expected Net Premium, Original Discount Rate, before Reinsurance, after Cash Flow Change		0	0	0
Liability for Future Policy Benefit, Expected Net Premium, Issuance	0	0	0
Liability for Future Policy Benefit, Expected Net Premium, Interest Income	0	0	0
Liability for Future Policy Benefit, Expected Net Premium, Net Premium Collected	0	0	0
AOCI, Liability for Future Policy Benefit, Expected Net Premium, before Tax	0	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change	6,118	6,697	6,793	10,171
Liability for Future Policy Benefit, Expected Future Policy Benefit, Original Discount Rate, before Cash Flow and Reinsurance	6,876	7,085	7,410	8,165
Liability for Future Policy Benefit, Expected Future Policy Benefit, Cumulative Increase (Decrease) from Model Refinements		0	0	(278)
Liability for Future Policy Benefit, Expected Future Policy Benefit, Cumulative Increase (Decrease) from Cash Flow Change		82	0	(157)
Liability for Future Policy Benefit, Expected Future Policy Benefit, Cumulative Increase (Decrease) of Actual Variance from Expected Experience		(10)	(47)	(23)
Liability for Future Policy Benefit, Expected Future Benefit, Original Discount Rate, before Reinsurance, after Cash Flow Change		7,157	7,363	$ 7,707
Liability for Future Policy Benefit, Expected Future Policy Benefit, Issuance	0	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit, Interest Expense	305	314	327
Liability for Future Policy Benefit, Expected Future Policy Benefit, Benefit Payment	(586)	(592)	(624)
AOCI, Liability for Future Policy Benefit, Expected Future Policy Benefit, before Tax	(758)	(388)	(617)
Liability for Future Policy Benefit, before Reinsurance	6,118	6,697	6,793
Liability for Future Policy Benefit, Reinsurance Recoverable, after Allowance	59	65	68
Future policy benefits	$ 6,059	$ 6,632	$ 6,725
Liability for Future Policy Benefit, Weighted-Average Duration	11 years 7 months 6 days	11 years 7 months 6 days	11 years 7 months 6 days
Liability for Future Policy Benefit, Weighted-Average Interest Accretion Rate	4.46%	4.46%	4.45%
Liability for Future Policy Benefit, Current Weighted-Average Discount Rate	5.64%	5.03%	5.32%
Liability for Future Policy Benefit, Gross Premium Income	$ 0	$ 0	$ 0
Liability for Future Policy Benefit, Expected Future Gross Premium, Undiscounted, before Reinsurance	0	0	0
Liability for Future Policy Benefit, Expected Future Gross Premium, Discounted, before Reinsurance	0	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit, Undiscounted, before Reinsurance	13,336	13,767	14,418
Liability for Future Policy Benefit, Expected Future Policy Benefit, Discounted, before Reinsurance	$ 6,876	$ 7,085	$ 7,410

Insurance Liabilities (Future_2

Insurance Liabilities (Future Policy Benefits - SOP) (Details) - ULSG - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Additional Liability, Long-Duration Insurance [Line Items]
Additional Liability, Long-Duration Insurance, before Reinsurance, after Discount Rate Change	$ 8,986	$ 7,607	$ 6,935	$ 7,168
Additional Liability, Long-Duration Insurance, Original Discount Rate, before Cash Flow and Reinsurance	9,277	7,784	7,175	6,731
Additional Liability, Long-Duration Insurance, Cumulative Increase (Decrease) from Cash Flow Change		895	52	(37)
Additional Liability, Long-Duration Insurance, Cumulative Increase (Decrease) of Actual Variance from Expected Experience		167	145	179
Additional Liability, Long-Duration Insurance, Original Discount Rate, before Reinsurance, after Cash Flow Change		8,846	7,372	$ 6,873
Additional Liability, Long-Duration Insurance, Interest Income (Expense)	406	357	333
Additional Liability, Long-Duration Insurance, Net Premium Collected	446	414	416
Additional Liability, Long-Duration Insurance, Benefit Payment	(421)	(359)	(447)
AOCI, Liability for Future Policy Benefit, before Tax	(291)	(177)	(240)
Additional Liability, Long-Duration Insurance, Reinsurance Recoverable, after Allowance	1,535	1,438	1,384
Additional Liability, Long-Duration Insurance, after Reinsurance	$ 7,451	$ 6,169	$ 5,551
Additional Liability, Long-Duration Insurance, Weighted-Average Duration	6 years 7 months 6 days	6 years 8 months 12 days	6 years 8 months 12 days
Additional Liability, Long-Duration Insurance, Weighted-Average Interest Accretion Rate	4.94%	4.92%	4.90%
Additional Liability, Long-Duration Insurance, Gross Premium Income	$ 1,083	$ 1,064	$ 1,070

Insurance Liabilities (Future_3

Insurance Liabilities (Future Policy Benefits - Reconciliation) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for Future Policy Benefit, before Reinsurance	$ 31,475	$ 32,569
Liabilities reported in the preceding rollforward tables
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for Future Policy Benefit, before Reinsurance	21,384	20,591
Long-term care insurance (1)
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for Future Policy Benefit, before Reinsurance	5,190	5,581
ULSG liabilities, including liability for profits followed by losses
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for Future Policy Benefit, before Reinsurance	875	2,427
Participating whole life insurance (2)
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for Future Policy Benefit, before Reinsurance	3,217	3,102
Deferred profit liabilities
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for Future Policy Benefit, before Reinsurance	431	479
Other
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for Future Policy Benefit, before Reinsurance	$ 378	$ 389

Insurance Liabilities (Policyho

Insurance Liabilities (Policyholder Account Balances) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Policyholder Account Balance [Line Items]
Policyholder Account Balance, Beginning Balance	$ 81,068
Interest credited to policyholder account balances	2,136	$ 1,825	$ 1,338
Policyholder Account Balance, Ending Balance	87,989	81,068
Universal Life Insurance
Policyholder Account Balance [Line Items]
Policyholder Account Balance, Beginning Balance	2,550	2,658	2,694
Premiums and deposits	248	230	219
Surrenders and withdrawals	(95)	(163)	(88)
Benefit payments	(41)	(67)	(65)
Net transfers from (to) separate account	51	46	47
Interest credited to policyholder account balances	92	66	76
Policy charges	(215)	(220)	(225)
Changes related to embedded derivatives	0	0	0
Policyholder Account Balance, Ending Balance	$ 2,590	$ 2,550	$ 2,658
Weighted-average crediting rate (2)	3.58%	2.56%	2.84%
Variable Annuities
Policyholder Account Balance [Line Items]
Policyholder Account Balance, Beginning Balance	$ 4,307	$ 4,908	$ 4,743
Premiums and deposits	73	76	146
Surrenders and withdrawals	(670)	(693)	(495)
Benefit payments	(98)	(111)	(113)
Net transfers from (to) separate account	127	18	151
Interest credited to policyholder account balances	114	133	501
Policy charges	(20)	(24)	(25)
Changes related to embedded derivatives	0	0	0
Policyholder Account Balance, Ending Balance	$ 3,833	$ 4,307	$ 4,908
Weighted-average crediting rate (2)	2.81%	2.90%	10.47%
Index-linked Annuities
Policyholder Account Balance [Line Items]
Policyholder Account Balance, Beginning Balance	$ 41,627	$ 33,897	$ 32,000
Premiums and deposits	8,228	7,183	6,632
Surrenders and withdrawals	(5,532)	(3,732)	(2,220)
Benefit payments	(324)	(240)	(180)
Net transfers from (to) separate account	0	0	0
Interest credited to policyholder account balances	673	445	392
Policy charges	(23)	(11)	(8)
Changes related to embedded derivatives	3,956	4,085	(2,719)
Policyholder Account Balance, Ending Balance	$ 48,605	$ 41,627	$ 33,897
Weighted-average crediting rate (2)	1.79%	1.47%	1.16%
Fixed Rate Annuities
Policyholder Account Balance [Line Items]
Policyholder Account Balance, Beginning Balance	$ 14,672	$ 14,274	$ 11,849
Premiums and deposits	1,127	2,694	3,676
Surrenders and withdrawals	(1,356)	(2,405)	(904)
Benefit payments	(345)	(377)	(345)
Net transfers from (to) separate account	0	0	0
Interest credited to policyholder account balances	567	486	(2)
Policy charges	0	0	0
Changes related to embedded derivatives	0	0	0
Policyholder Account Balance, Ending Balance	$ 14,665	$ 14,672	$ 14,274
Weighted-average crediting rate (2)	3.84%	3.31%	(0.02%)
ULSG
Policyholder Account Balance [Line Items]
Policyholder Account Balance, Beginning Balance	$ 5,052	$ 5,307	$ 5,569
Premiums and deposits	645	660	697
Surrenders and withdrawals	(23)	(23)	(32)
Benefit payments	(70)	(85)	(84)
Net transfers from (to) separate account	0	0	0
Interest credited to policyholder account balances	163	208	197
Policy charges	(988)	(1,015)	(1,040)
Changes related to embedded derivatives	0	0	0
Policyholder Account Balance, Ending Balance	$ 4,779	$ 5,052	$ 5,307
Weighted-average crediting rate (2)	3.32%	4.02%	3.62%
Company-Owned Life Insurance
Policyholder Account Balance [Line Items]
Policyholder Account Balance, Beginning Balance	$ 653	$ 641	$ 646
Premiums and deposits	0	0	0
Surrenders and withdrawals	0	0	0
Benefit payments	(9)	(8)	(8)
Net transfers from (to) separate account	500	1	(13)
Interest credited to policyholder account balances	29	28	23
Policy charges	(7)	(9)	(7)
Changes related to embedded derivatives	0	0	0
Policyholder Account Balance, Ending Balance	$ 1,166	$ 653	$ 641
Weighted-average crediting rate (2)	3.63%	4.33%	3.41%

Insurance Liabilities (Reconcil

Insurance Liabilities (Reconciliation of Policyholder Account Balances) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Policyholder Account Balance [Line Items]
Policyholder Account Balance	$ 87,989	$ 81,068
Rollforwards Total
Policyholder Account Balance [Line Items]
Policyholder Account Balance	75,638	68,861
Funding agreements classified as investment contracts
Policyholder Account Balance [Line Items]
Policyholder Account Balance	11,002	11,115
Institutional group annuities
Policyholder Account Balance [Line Items]
Policyholder Account Balance	370	0
Other investment contract liabilities
Policyholder Account Balance [Line Items]
Policyholder Account Balance	$ 979	$ 1,092

Insurance Liabilities (Balance

Insurance Liabilities (Balance of Account Values by range of guaranteed minimum crediting rates) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	$ 18,979	$ 19,406
Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	2,548	2,508
ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	4,762	5,043
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 0200 | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	$ 9,697	$ 8,882
Policyholder Account Balance, Guaranteed Minimum Credit Rating	2%	2%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 0200 | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	$ 317	$ 236
Policyholder Account Balance, Guaranteed Minimum Credit Rating	2%	2%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 0200 | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	$ 0	$ 0
Policyholder Account Balance, Guaranteed Minimum Credit Rating	2%	2%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	$ 8,499	$ 9,650
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | Variable Annuities | Minimum
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Credit Rating	2%	2%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | Variable Annuities | Maximum
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Credit Rating	3.99%	3.99%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	$ 701	$ 677
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | Life insurance | Minimum
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Credit Rating	2%	2%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | Life insurance | Maximum
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Credit Rating	3.99%	3.99%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	$ 4,278	$ 4,537
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | ULSG | Minimum
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Credit Rating	2%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | ULSG | Maximum
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Credit Rating	3.99%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	$ 783	$ 874
Policyholder Account Balance, Guaranteed Minimum Credit Rating	3.99%	3.99%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	$ 1,530	$ 1,595
Policyholder Account Balance, Guaranteed Minimum Credit Rating	3.99%	3.99%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	$ 484	$ 506
Policyholder Account Balance, Guaranteed Minimum Credit Rating	3.99%	3.99%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | ULSG | Minimum
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Credit Rating		2%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | ULSG | Maximum
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Credit Rating		3.99%
Policyholder Account Balance, at Guaranteed Minimum Crediting Rate | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	$ 8,505	$ 10,398
Policyholder Account Balance, at Guaranteed Minimum Crediting Rate | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	1,530	1,595
Policyholder Account Balance, at Guaranteed Minimum Crediting Rate | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	1,536	1,641
Policyholder Account Balance, at Guaranteed Minimum Crediting Rate | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 0200 | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	562	697
Policyholder Account Balance, at Guaranteed Minimum Crediting Rate | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 0200 | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	0	0
Policyholder Account Balance, at Guaranteed Minimum Crediting Rate | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 0200 | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	0	0
Policyholder Account Balance, at Guaranteed Minimum Crediting Rate | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	7,160	8,827
Policyholder Account Balance, at Guaranteed Minimum Crediting Rate | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	0	0
Policyholder Account Balance, at Guaranteed Minimum Crediting Rate | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	1,052	1,135
Policyholder Account Balance, at Guaranteed Minimum Crediting Rate | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	783	874
Policyholder Account Balance, at Guaranteed Minimum Crediting Rate | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	1,530	1,595
Policyholder Account Balance, at Guaranteed Minimum Crediting Rate | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	484	506
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050 | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	588	465
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050 | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	522	492
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050 | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	1,386	1,485
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 0200 | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	126	223
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 0200 | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	0	0
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 0200 | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	0	0
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	462	242
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	522	492
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	1,386	1,485
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	0	0
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	0	0
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	0	0
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150 | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	732	535
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150 | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	48	49
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150 | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	1,602	1,663
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 0200 | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	240	310
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 0200 | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	0	0
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 0200 | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	0	0
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	492	225
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	48	49
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	1,602	1,663
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	0	0
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	0	0
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150 | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	0	0
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	9,154	8,008
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	448	372
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	238	254
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 0200 | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	8,769	7,652
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 0200 | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	317	236
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 0200 | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	0	0
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	385	356
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	131	136
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 0200 to 0399 | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	238	254
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Variable Annuities
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	0	0
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Life insurance
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	0	0
Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | ULSG
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balances gross of policy loans and excludes excessing interest reserves	$ 0	$ 0

Insurance Liabilities (Liabilit

Insurance Liabilities (Liability for Future Policy Benefits - Narrative) (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Mean Reversion Rate	0.0400	0.0375
Participating whole life insurance (2)
Participating Insurance, Percentage of Gross Insurance in Force	3%	3%
Participating Insurance, Percentage of Premium Income	39%	40%
Participating whole life insurance (2) | Minimum
Liability for Future Policy Benefits, Interest Rate	3.50%
Participating whole life insurance (2) | Maximum
Liability for Future Policy Benefits, Interest Rate	4.50%

Insurance Liabilities (Obligati

Insurance Liabilities (Obligations Under Funding Agreements - Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Line of Credit Facility [Line Items]
Outstanding funding agreements to certain SPEs	$ 5,500	$ 5,500
Outstanding Secured Funding Agreements To Certain Special Purpose Entities	500
Outstanding funding agreements to certain SPEs - Inactive	25	525
Federal Home Loan Bank of Atlanta
Line of Credit Facility [Line Items]
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Amount of Advances	$ 5,000	$ 5,100

Market Risk Benefits (Details)

Market Risk Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Variable Annuities
Market Risk Benefit [Line Items]
Market Risk Benefit, after Increase (Decrease) from Instrument-Specific Credit Risk	$ 7,233	$ 9,701	$ 9,974	$ 15,698
Market Risk Benefit, before Reinsurance and Cumulative Increase (Decrease) from Instrument-Specific Credit Risk Change	5,219	7,326	8,230	$ 11,611
Market Risk Benefit, Decrements	(178)	(176)	16
Market Risk Benefit, Increase (Decrease) from Future Expected Policyholder Behavior Assumption	(53)	259	210
Market Risk Benefit, Increase (Decrease) from Actual Policyholder Behavior Different from Expected	140	187	(48)
Market Risk Benefit, Increase (Decrease) from Interest Rate Change	(1,940)	(428)	(8,394)
Market Risk Benefit, Increase (Decrease) from Equity Market Change	(973)	(2,203)	3,807
Market Risk Benefit, Issuance	(4)	(7)	(47)
Market Risk Benefit, Effect of changes in risk margin	(72)	(34)	(152)
Market Risk Benefit, Aging of the Block and Other	973	1,498	1,227
AOCI, Market Risk Benefit, Instrument-Specific Credit Risk, before Tax	2,014	2,375	1,744
Market Risk Benefit, Reinsurance Recoverable, after Allowance	17	43	71
Market Risk Benefit, after Reinsurance and Cumulative Increase (Decrease) from Instrument-Specific Credit Risk Change	$ 7,216	$ 9,658	$ 9,903
Market Risk Benefit, Weighted-Average Attained Age of Contract holder	73 years 9 months 18 days	72 years 10 months 24 days	71 years 9 months 18 days
Index-linked Annuities
Market Risk Benefit [Line Items]
Market Risk Benefit, after Increase (Decrease) from Instrument-Specific Credit Risk	$ 21	$ 9	$ 3

Separate Accounts (Separate Acc

Separate Accounts (Separate Account Liability) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Separate Account, Liability [Line Items]
Separate Account, Liability, Beginning Balance	$ 88,271
Separate Account, Liability, Ending Balance	85,636	$ 88,271
Variable Annuities
Separate Account, Liability [Line Items]
Separate Account, Liability, Beginning Balance	79,990	77,653	$ 105,023
Premiums and deposits	834	766	1,207
Surrenders and withdrawals	(8,291)	(6,346)	(6,256)
Benefit payments	(1,555)	(1,434)	(1,337)
Investment performance	8,494	11,549	(18,583)
Policy charges	(2,168)	(2,160)	(2,292)
Net transfers from (to) general account	(127)	(18)	(151)
Other	(26)	(20)	42
Separate Account, Liability, Ending Balance	77,151	79,990	77,653
Universal Life Insurance
Separate Account, Liability [Line Items]
Separate Account, Liability, Beginning Balance	5,921	5,218	6,862
Premiums and deposits	152	162	175
Surrenders and withdrawals	(217)	(180)	(159)
Benefit payments	(69)	(68)	(67)
Investment performance	897	1,041	(1,342)
Policy charges	(214)	(206)	(203)
Net transfers from (to) general account	(51)	(46)	(47)
Other	0	0	(1)
Separate Account, Liability, Ending Balance	6,419	5,921	5,218
Company-Owned Life Insurance
Separate Account, Liability [Line Items]
Separate Account, Liability, Beginning Balance	2,162	1,932	2,384
Premiums and deposits	0	0	0
Surrenders and withdrawals	(29)	(19)	(18)
Benefit payments	(22)	(28)	(33)
Investment performance	254	328	(358)
Policy charges	(53)	(49)	(61)
Net transfers from (to) general account	(500)	(1)	13
Other	(4)	(1)	5
Separate Account, Liability, Ending Balance	$ 1,808	$ 2,162	$ 1,932

Separate Accounts (Reconciliati

Separate Accounts (Reconciliation of Separate Account Liability) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Separate Account, Liability [Line Items]
Separate account liabilities	$ 85,636	$ 88,271
Variable income annuities	235	179
Pension risk transfer annuities	23	19
Rollforwards Total
Separate Account, Liability [Line Items]
Separate account liabilities	$ 85,378	$ 88,073

Separate Accounts (Aggregate FV

Separate Accounts (Aggregate FV of Assets Supporting Separate Accounts) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Separate Account, Liability [Line Items]
Separate account assets	$ 85,636	$ 88,271
Equity securities
Separate Account, Liability [Line Items]
Separate account assets	85,423	87,999
Fixed maturity securities
Separate Account, Liability [Line Items]
Separate account assets	207	258
Cash and cash equivalents
Separate Account, Liability [Line Items]
Separate account assets	2	7
Other assets
Separate Account, Liability [Line Items]
Separate account assets	$ 4	$ 7

Separate Accounts (Net Amount a

Separate Accounts (Net Amount at Risk and Cash Surrender Values) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net Amount at Risk by Product and Guarantee [Line Items]
Policyholder Account Balance	$ 87,989	$ 81,068
Separate account liabilities	85,636	88,271
Universal Life Insurance
Net Amount at Risk by Product and Guarantee [Line Items]
Policyholder Account Balance	2,590	2,550	$ 2,658	$ 2,694
Separate account liabilities	6,419	5,921	5,218
Total account balances	9,009	8,471	7,876
Net amount at risk	33,227	35,583	38,146
Cash surrender value	8,425	7,881	7,225
Variable Annuities
Net Amount at Risk by Product and Guarantee [Line Items]
Policyholder Account Balance	3,833	4,307	4,908	4,743
Separate account liabilities	77,151	79,990	77,653	105,023
Total account balances	80,984	84,297	82,561
Net amount at risk	12,817	13,240	16,504
Cash surrender value	80,592	83,852	82,125
Index-linked Annuities
Net Amount at Risk by Product and Guarantee [Line Items]
Policyholder Account Balance	48,605	41,627	33,897	32,000
Separate account liabilities	0	0	0
Total account balances	48,605	41,627	33,897
Cash surrender value	47,013	39,270	31,293
Fixed Rate Annuities
Net Amount at Risk by Product and Guarantee [Line Items]
Policyholder Account Balance	14,665	14,672	14,274	11,849
Separate account liabilities	0	0	0
Total account balances	14,665	14,672	14,274
Cash surrender value	14,361	14,068	13,723
ULSG
Net Amount at Risk by Product and Guarantee [Line Items]
Policyholder Account Balance	4,779	5,052	5,307	5,569
Separate account liabilities	0	0	0
Total account balances	4,779	5,052	5,307
Net amount at risk	63,580	65,299	66,926
Cash surrender value	4,316	4,498	4,671
Company-Owned Life Insurance
Net Amount at Risk by Product and Guarantee [Line Items]
Policyholder Account Balance	1,166	653	641	646
Separate account liabilities	1,808	2,162	1,932	$ 2,384
Total account balances	2,974	2,815	2,573
Net amount at risk	2,657	2,659	3,382
Cash surrender value	$ 2,142	$ 2,593	$ 2,357

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles (Information Regarding DAC and VOBA) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred Policy Acquisition Cost and Present Value of Future Profit [Line Items]
Balance, end of period, Total DAC and VOBA	$ 4,710	$ 4,872
Variable Annuities
Deferred Policy Acquisition Cost and Present Value of Future Profit [Line Items]
Balance, beginning of period, DAC	2,301	2,508	$ 2,718
Capitalization	39	36	55
Amortization	(224)	(243)	(265)
Balance, end of period, DAC	2,116	2,301	2,508
Balance, beginning of period, VOBA	309	341	377
Amortization	(30)	(32)	(36)
Balance, end of period, VOBA	279	309	341
Balance, end of period, Total DAC and VOBA	2,395	2,610	2,849
Fixed Rate Annuities
Deferred Policy Acquisition Cost and Present Value of Future Profit [Line Items]
Balance, beginning of period, DAC	110	107	89
Capitalization	8	14	30
Amortization	(3)	(11)	(12)
Balance, end of period, DAC	115	110	107
Balance, beginning of period, VOBA	60	65	70
Amortization	(5)	(5)	(5)
Balance, end of period, VOBA	55	60	65
Balance, end of period, Total DAC and VOBA	170	170	172
Index-linked Annuities
Deferred Policy Acquisition Cost and Present Value of Future Profit [Line Items]
Balance, beginning of period, DAC	1,331	1,213	1,081
Capitalization	373	343	330
Amortization	(242)	(225)	(198)
Balance, end of period, DAC	1,462	1,331	1,213
Balance, beginning of period, VOBA	0	0	0
Amortization	0	0	0
Balance, end of period, VOBA	0	0	0
Balance, end of period, Total DAC and VOBA	1,462	1,331	1,213
Term and Whole Life Insurance
Deferred Policy Acquisition Cost and Present Value of Future Profit [Line Items]
Balance, beginning of period, DAC	354	405	462
Capitalization	4	2	(1)
Amortization	(48)	(53)	(56)
Balance, end of period, DAC	310	354	405
Balance, beginning of period, VOBA	4	5	6
Amortization	(1)	(1)	(1)
Balance, end of period, VOBA	3	4	5
Balance, end of period, Total DAC and VOBA	313	358	410
Universal Life Insurance
Deferred Policy Acquisition Cost and Present Value of Future Profit [Line Items]
Balance, beginning of period, DAC	360	392	431
Capitalization	13	13	11
Amortization	(41)	(45)	(50)
Balance, end of period, DAC	332	360	392
Balance, beginning of period, VOBA	43	48	54
Amortization	(5)	(5)	(6)
Balance, end of period, VOBA	38	43	48
Balance, end of period, Total DAC and VOBA	$ 370	$ 403	$ 440

Deferred Policy Acquisition C_4

Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles (Information Regarding DSI) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Variable Annuities
Deferred Sale Inducement Cost [Line Items]
Balance, beginning of year	$ 220	$ 245	$ 272
Capitalization	1	1	1
Amortization	(23)	(26)	(28)
Balance, end of year	198	220	245
Fixed Rate Annuities
Deferred Sale Inducement Cost [Line Items]
Balance, beginning of year	8	9	10
Capitalization	0	0	0
Amortization	(2)	(1)	(1)
Balance, end of year	$ 6	$ 8	$ 9

Deferred Policy Acquisition C_5

Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles (Unearned Revenue) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Universal Life Insurance
Deferred Revenue Arrangement [Line Items]
Balance, beginning of year	$ 356	$ 357	$ 358
Capitalization	37	38	39
Amortization	(36)	(39)	(40)
Balance, end of year	357	356	357
ULSG
Deferred Revenue Arrangement [Line Items]
Balance, beginning of year	612	488	344
Capitalization	166	174	181
Amortization	(63)	(50)	(37)
Balance, end of year	715	612	488
Variable Annuities
Deferred Revenue Arrangement [Line Items]
Balance, beginning of year	67	74	80
Capitalization	0	0	2
Amortization	(7)	(7)	(8)
Balance, end of year	$ 60	$ 67	$ 74

Reinsurance (Effects of Reinsur

Reinsurance (Effects of Reinsurance on Earnings) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Premiums
Direct premiums	$ 1,395	$ 1,499	$ 1,359
Reinsurance assumed	12	14	6
Reinsurance ceded	(637)	(685)	(703)
Net premiums	770	828	662
Universal life and investment-type product policy fees
Direct universal life and investment-type product policy fees	2,976	2,941	3,107
Reinsurance assumed	53	49	45
Reinsurance ceded	(913)	(695)	(717)
Net universal life and investment-type product policy fees	2,116	2,295	2,435
Other revenues
Direct other revenues	286	269	292
Reinsurance assumed	7	2	2
Reinsurance ceded	286	212	184
Net other revenues	579	483	478
Policyholder benefits and claims
Direct policyholder benefits and claims	3,959	3,946	3,863
Reinsurance assumed	80	84	112
Reinsurance ceded	(1,745)	(1,354)	(1,782)
Net policyholder benefits and claims	2,294	2,676	2,193
Change in market risk benefits
Direct change in market risk benefits	(2,713)	(1,537)	(4,154)
Reinsurance assumed	7	(1)	(1)
Reinsurance ceded	33	31	51
Net change in market risk benefits	$ (2,673)	$ (1,507)	$ (4,104)

Reinsurance (Effects of Reins_2

Reinsurance (Effects of Reinsurance on Balance Sheet) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets
Premiums and Other Receivables, Net	$ 21,126	$ 19,761
Market risk benefit assets	1,092	656
Liabilities
Future policy benefits	31,475	32,569
Policyholder account balances	87,989	81,068
Market risk benefit liabilities	8,329	10,323
Other policy-related balances	3,878	3,836
Other liabilities	9,160	8,439
Direct Reinsurance
Assets
Premiums and Other Receivables, Net	507	463
Market risk benefit assets	1,075	613
Liabilities
Future policy benefits	31,366	32,456
Policyholder account balances	83,846	76,768
Market risk benefit liabilities	8,313	10,318
Other policy-related balances	2,324	2,253
Other liabilities	7,422	7,138
Assumed Reinsurance
Assets
Premiums and Other Receivables, Net	3	4
Market risk benefit assets	0	0
Liabilities
Future policy benefits	109	113
Policyholder account balances	4,143	4,300
Market risk benefit liabilities	16	5
Other policy-related balances	1,554	1,583
Other liabilities	25	15
Ceded Reinsurance
Assets
Premiums and Other Receivables, Net	20,616	19,294
Market risk benefit assets	17	43
Liabilities
Future policy benefits	0	0
Policyholder account balances	0	0
Market risk benefit liabilities	0	0
Other policy-related balances	0	0
Other liabilities	$ 1,713	$ 1,286

Reinsurance (Reinsurance Introd

Reinsurance (Reinsurance Introduction - Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Effects of Reinsurance [Line Items]
Reinsurance Retention Policy, Excess Retention, Percentage	100%
Reinsurance Recoverables, Ceded	$ 19,800	$ 18,900
Maximum
Effects of Reinsurance [Line Items]
Reinsurance, Amount Retained, Per Life	$ 20
Participating whole life insurance
Effects of Reinsurance [Line Items]
Reinsurance Retention Policy, Reinsured Risk, Percentage	90%
Accident & health insurance
Effects of Reinsurance [Line Items]
Reinsurance Retention Policy, Reinsured Risk, Percentage	100%
Ceded Credit Risk, Secured [Member] | Accident & health insurance
Effects of Reinsurance [Line Items]
Reinsurance Recoverables, Ceded	$ 5,400

Reinsurance (Reinsurance Recove

Reinsurance (Reinsurance Recoverables - Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Ceded Credit Risk [Line Items]
Reinsurance Recoverables, Ceded	$ 19,800	$ 18,900
Premiums, reinsurance and other, allowance for credit losses	3	3
Five Largest Ceded Reinsurers [Member]
Ceded Credit Risk [Line Items]
Ceded Credit Risk, Reinsurance Recoverables, Net	$ 17,000	$ 16,800
Ceded Credit Risk, Reinsurance Recoverables, Percentage	86%	89%
Ceded Credit Risk, Unsecured [Member]
Ceded Credit Risk [Line Items]
Reinsurance Recoverables, Ceded	$ 6,200	$ 6,100
Ceded Credit Risk, Unsecured [Member] | Five Largest Ceded Reinsurers [Member]
Ceded Credit Risk [Line Items]
Ceded Credit Risk, Reinsurance Recoverables, Net	$ 4,400	$ 4,300

Reinsurance (Reinsurance Deposi

Reinsurance (Reinsurance Deposit Part B - Narrative) (Details) - USD ($) $ in Billions	Dec. 31, 2024	Dec. 31, 2023
Reinsurance Disclosures [Abstract]
Deposit Contracts, Assets	$ 8.5	$ 7.5
Deposit Contracts, Liabilities	$ 3.8	$ 3.9

Investments (Fixed Maturity Sec

Investments (Fixed Maturity Securities by Sector) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities, amortized cost	$ 87,603	$ 87,131
Fixed maturity securities, allowance for credit losses	81	21	$ 7
Fixed maturity securities, gross unrealized gains	498	1,037
Fixed maturity securities, gross unrealized losses	7,965	7,156
Fixed maturity securities, estimated fair value	80,055	80,991
U.S. corporate
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities, amortized cost	40,894	38,778
Fixed maturity securities, allowance for credit losses	47	15	1
Fixed maturity securities, gross unrealized gains	215	388
Fixed maturity securities, gross unrealized losses	3,939	3,396
Fixed maturity securities, estimated fair value	37,123	35,755
Foreign corporate
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities, amortized cost	13,284	12,865
Fixed maturity securities, allowance for credit losses	26	0	1
Fixed maturity securities, gross unrealized gains	53	89
Fixed maturity securities, gross unrealized losses	1,481	1,289
Fixed maturity securities, estimated fair value	11,830	11,665
RMBS
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities, amortized cost	8,120	8,199
Fixed maturity securities, allowance for credit losses	4	5	2
Fixed maturity securities, gross unrealized gains	46	48
Fixed maturity securities, gross unrealized losses	875	812
Fixed maturity securities, estimated fair value	7,287	7,430
U.S. government and agency
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities, amortized cost	7,408	8,656
Fixed maturity securities, allowance for credit losses	0	0
Fixed maturity securities, gross unrealized gains	40	286
Fixed maturity securities, gross unrealized losses	701	523
Fixed maturity securities, estimated fair value	6,747	8,419
CMBS
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities, amortized cost	6,776	7,023
Fixed maturity securities, allowance for credit losses	4	1	$ 3
Fixed maturity securities, gross unrealized gains	6	2
Fixed maturity securities, gross unrealized losses	422	614
Fixed maturity securities, estimated fair value	6,356	6,410
ABS
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities, amortized cost	6,354	6,514
Fixed maturity securities, allowance for credit losses	0	0
Fixed maturity securities, gross unrealized gains	33	23
Fixed maturity securities, gross unrealized losses	75	131
Fixed maturity securities, estimated fair value	6,312	6,406
State and political subdivision
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities, amortized cost	3,731	4,019
Fixed maturity securities, allowance for credit losses	0	0
Fixed maturity securities, gross unrealized gains	81	159
Fixed maturity securities, gross unrealized losses	371	304
Fixed maturity securities, estimated fair value	3,441	3,874
Foreign government
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities, amortized cost	1,036	1,077
Fixed maturity securities, allowance for credit losses	0	0
Fixed maturity securities, gross unrealized gains	24	42
Fixed maturity securities, gross unrealized losses	101	87
Fixed maturity securities, estimated fair value	$ 959	$ 1,032

Investments (Maturities of Fixe

Investments (Maturities of Fixed Maturity Securities) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Amortized cost, due in one year or less	$ 4,052
Amortized cost, due after one year through five years	19,848
Amortized cost, due after five years through ten years	13,624
Amortized cost, due after ten years	28,829
Amortized cost, Structured Securities	21,250
Fixed maturity securities, amortized cost	87,603	$ 87,131
Estimated fair value, due in one year or less	4,036
Estimated fair value, due after one year through five years	19,272
Estimated fair value, due after five years through ten years	12,381
Estimated fair value, due after ten years	24,411
Estimated fair value, Structured Securities	19,955
Fixed maturity securities, estimated fair value	$ 80,055	$ 80,991

Investments (Continuous Gross U

Investments (Continuous Gross Unrealized Losses for Fixed Maturity Securities by Sector) (Details) $ in Millions	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities in continuous unrealized loss position, less than 12 months, estimated fair value	$ 20,918	$ 8,061
Fixed maturity securities in continuous unrealized loss position, less than 12 months, gross unrealized losses	$ 1,463	$ 585
Fixed maturity securities in continuous unrealized loss position, less than 12 months, number of securities	3,362	1,347
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, estimated fair value	$ 37,112	$ 51,758
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, gross unrealized losses	$ 6,502	$ 6,571
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, number of securities	5,272	7,038
U.S. corporate
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities in continuous unrealized loss position, less than 12 months, estimated fair value	$ 10,764	$ 4,554
Fixed maturity securities in continuous unrealized loss position, less than 12 months, gross unrealized losses	719	409
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, estimated fair value	17,660	22,796
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, gross unrealized losses	3,220	2,987
Foreign corporate
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities in continuous unrealized loss position, less than 12 months, estimated fair value	3,277	1,010
Fixed maturity securities in continuous unrealized loss position, less than 12 months, gross unrealized losses	351	73
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, estimated fair value	5,560	8,311
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, gross unrealized losses	1,130	1,216
RMBS
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities in continuous unrealized loss position, less than 12 months, estimated fair value	1,223	413
Fixed maturity securities in continuous unrealized loss position, less than 12 months, gross unrealized losses	81	20
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, estimated fair value	4,647	5,774
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, gross unrealized losses	794	792
U.S. government and agency
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities in continuous unrealized loss position, less than 12 months, estimated fair value	2,457	518
Fixed maturity securities in continuous unrealized loss position, less than 12 months, gross unrealized losses	118	9
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, estimated fair value	1,884	3,477
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, gross unrealized losses	583	514
CMBS
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities in continuous unrealized loss position, less than 12 months, estimated fair value	1,326	411
Fixed maturity securities in continuous unrealized loss position, less than 12 months, gross unrealized losses	90	33
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, estimated fair value	4,402	5,786
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, gross unrealized losses	332	581
ABS
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities in continuous unrealized loss position, less than 12 months, estimated fair value	717	572
Fixed maturity securities in continuous unrealized loss position, less than 12 months, gross unrealized losses	10	3
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, estimated fair value	1,081	3,360
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, gross unrealized losses	65	128
State and political subdivision
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities in continuous unrealized loss position, less than 12 months, estimated fair value	882	471
Fixed maturity securities in continuous unrealized loss position, less than 12 months, gross unrealized losses	64	32
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, estimated fair value	1,447	1,634
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, gross unrealized losses	307	272
Foreign government
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities in continuous unrealized loss position, less than 12 months, estimated fair value	272	112
Fixed maturity securities in continuous unrealized loss position, less than 12 months, gross unrealized losses	30	6
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, estimated fair value	431	620
Fixed maturity securities in continuous unrealized loss position, 12 months or greater, gross unrealized losses	$ 71	$ 81

Investments (Rollforward of the

Investments (Rollforward of the Allowance for Credit Losses for Fixed Maturity Securities by Sector) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Fixed maturity securities, allowance for credit losses, beginning of year	$ 21	$ 7
Allowance on securities where credit losses were not previously recorded	58	18
Reductions for securities sold	0	(2)
Change in allowance on securities with an allowance recorded in a previous period	2	(1)
Write-offs charged against allowance	0	(1)
Fixed maturity securities, allowance for credit losses, end of year	81	21
U.S. corporate
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Fixed maturity securities, allowance for credit losses, beginning of year	15	1
Allowance on securities where credit losses were not previously recorded	29	15
Reductions for securities sold	0	(1)
Change in allowance on securities with an allowance recorded in a previous period	3	0
Write-offs charged against allowance	0	0
Fixed maturity securities, allowance for credit losses, end of year	47	15
Foreign corporate
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Fixed maturity securities, allowance for credit losses, beginning of year	0	1
Allowance on securities where credit losses were not previously recorded	26	0
Reductions for securities sold	0	0
Change in allowance on securities with an allowance recorded in a previous period	0	0
Write-offs charged against allowance	0	(1)
Fixed maturity securities, allowance for credit losses, end of year	26	0
RMBS
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Fixed maturity securities, allowance for credit losses, beginning of year	5	2
Allowance on securities where credit losses were not previously recorded	0	3
Reductions for securities sold	0	0
Change in allowance on securities with an allowance recorded in a previous period	(1)	0
Write-offs charged against allowance	0	0
Fixed maturity securities, allowance for credit losses, end of year	4	5
CMBS
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Fixed maturity securities, allowance for credit losses, beginning of year	1	3
Allowance on securities where credit losses were not previously recorded	3	0
Reductions for securities sold	0	(1)
Change in allowance on securities with an allowance recorded in a previous period	0	(1)
Write-offs charged against allowance	0	0
Fixed maturity securities, allowance for credit losses, end of year	$ 4	$ 1

Investments (Mortgage Loans by

Investments (Mortgage Loans by Portfolio Segment) (Details) - Mortgage Loans - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit losses	$ 23,464	$ 22,645
Financing receivable, allowance for credit losses	(178)	(137)	$ (119)
Financing receivable, net of allowance for credit losses	$ 23,286	$ 22,508
Financing receivable, before allowance for credit losses as a percentage of financing receivable, net of allowance for credit losses	100.70%	100.60%
Financing receivable, allowance for credit losses as a percentage of financing receivable, net of allowance for credit losses	(0.70%)	(0.60%)
Financing receivable, after allowance for credit losses as a percentage of financing receivable, net of allowance for credit losses	100%	100%
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit losses	$ 13,330	$ 13,193
Financing receivable, allowance for credit losses	$ (106)	$ (69)	(49)
Financing receivable, before allowance for credit losses as a percentage of financing receivable, net of allowance for credit losses	57.20%	58.60%
Agricultural
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit losses	$ 4,591	$ 4,445
Financing receivable, allowance for credit losses	$ (30)	$ (19)	(15)
Financing receivable, before allowance for credit losses as a percentage of financing receivable, net of allowance for credit losses	19.70%	19.80%
Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit losses	$ 5,543	$ 5,007
Financing receivable, allowance for credit losses	$ (42)	$ (49)	$ (55)
Financing receivable, before allowance for credit losses as a percentage of financing receivable, net of allowance for credit losses	23.80%	22.20%

Investments (Rollforward of t_2

Investments (Rollforward of the Allowance for Credit Losses for Mortgage Loans by Portfolio Segment) (Details) - Mortgage Loans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Financing receivable, allowance for credit losses, beginning of year	$ 137	$ 119
Current period provision	54	23
Charge-offs, net of recoveries	(13)	(5)
Financing receivable, allowance for credit losses, end of year	178	137
Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Financing receivable, allowance for credit losses, beginning of year	69	49
Current period provision	50	24
Charge-offs, net of recoveries	(13)	(4)
Financing receivable, allowance for credit losses, end of year	106	69
Agricultural
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Financing receivable, allowance for credit losses, beginning of year	19	15
Current period provision	11	5
Charge-offs, net of recoveries	0	(1)
Financing receivable, allowance for credit losses, end of year	30	19
Residential
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Financing receivable, allowance for credit losses, beginning of year	49	55
Current period provision	(7)	(6)
Charge-offs, net of recoveries	0	0
Financing receivable, allowance for credit losses, end of year	$ 42	$ 49

Investments (Credit Quality of

Investments (Credit Quality of Mortgage Loans by Portfolio Segment) (Details) - Mortgage Loans - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, originated in current FY	$ 1,845	$ 514
Financing receivable, originated in FY before latest FY	642	4,423
Financing receivable, originated two years before latest FY	4,376	6,136
Financing receivable, originated three years before latest FY	5,999	1,044
Financing receivable, originated four years before latest FY	988	2,600
Financing receivable, originated five or more years before latest FY	9,614	7,928
Financing receivable, before allowance for credit losses	23,464	22,645
Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, originated in current FY	848	206
Financing receivable, originated in FY before latest FY	199	2,417
Financing receivable, originated two years before latest FY	2,390	3,205
Financing receivable, originated three years before latest FY	3,152	438
Financing receivable, originated four years before latest FY	432	1,859
Financing receivable, originated five or more years before latest FY	6,309	5,068
Financing receivable, before allowance for credit losses	$ 13,330	$ 13,193
Financing receivable, before allowance for credit losses by debt service coverage ratio as a percentage of financing receivable, before allowance for credit losses	100%	100%
Commercial | Debt Service Coverage Ratio, Greater than 1.20x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, before allowance for credit losses	$ 12,033	$ 12,086
Financing receivable, before allowance for credit losses by debt service coverage ratio as a percentage of financing receivable, before allowance for credit losses	90.30%	91.60%
Commercial | Debt Service Coverage Ratio, 1.00x to 1.20x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, before allowance for credit losses	$ 801	$ 702
Financing receivable, before allowance for credit losses by debt service coverage ratio as a percentage of financing receivable, before allowance for credit losses	6%	5.30%
Commercial | Debt Service Coverage Ratio, Less than 1.00x
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, before allowance for credit losses	$ 496	$ 405
Financing receivable, before allowance for credit losses by debt service coverage ratio as a percentage of financing receivable, before allowance for credit losses	3.70%	3.10%
Commercial | Loan-to-Value Ratio, Less than 65%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, originated in current FY	$ 640	$ 206
Financing receivable, originated in FY before latest FY	199	655
Financing receivable, originated two years before latest FY	279	1,823
Financing receivable, originated three years before latest FY	1,850	177
Financing receivable, originated four years before latest FY	196	1,239
Financing receivable, originated five or more years before latest FY	2,846	2,630
Financing receivable, before allowance for credit losses	6,010	6,730
Commercial | Loan-to-Value Ratio, 65% to 75%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, originated in current FY	208	0
Financing receivable, originated in FY before latest FY	0	935
Financing receivable, originated two years before latest FY	1,022	1,079
Financing receivable, originated three years before latest FY	713	222
Financing receivable, originated four years before latest FY	62	261
Financing receivable, originated five or more years before latest FY	1,171	1,158
Financing receivable, before allowance for credit losses	3,176	3,655
Commercial | Loan-to-Value Ratio, 76% to 80%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, originated in current FY	0	0
Financing receivable, originated in FY before latest FY	0	427
Financing receivable, originated two years before latest FY	117	76
Financing receivable, originated three years before latest FY	201	39
Financing receivable, originated four years before latest FY	174	209
Financing receivable, originated five or more years before latest FY	602	564
Financing receivable, before allowance for credit losses	1,094	1,315
Commercial | Loan-to-Value Ratio, Greater than 80%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, originated in current FY	0	0
Financing receivable, originated in FY before latest FY	0	400
Financing receivable, originated two years before latest FY	972	227
Financing receivable, originated three years before latest FY	388	0
Financing receivable, originated four years before latest FY	0	150
Financing receivable, originated five or more years before latest FY	1,690	716
Financing receivable, before allowance for credit losses	3,050	1,493
Agricultural
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, originated in current FY	410	203
Financing receivable, originated in FY before latest FY	221	698
Financing receivable, originated two years before latest FY	674	1,240
Financing receivable, originated three years before latest FY	1,186	460
Financing receivable, originated four years before latest FY	409	535
Financing receivable, originated five or more years before latest FY	1,691	1,309
Financing receivable, before allowance for credit losses	4,591	4,445
Agricultural | Loan-to-Value Ratio, Less than 65%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, originated in current FY	410	202
Financing receivable, originated in FY before latest FY	203	571
Financing receivable, originated two years before latest FY	594	1,132
Financing receivable, originated three years before latest FY	1,073	454
Financing receivable, originated four years before latest FY	402	505
Financing receivable, originated five or more years before latest FY	1,655	1,292
Financing receivable, before allowance for credit losses	4,337	4,156
Agricultural | Loan-to-Value Ratio, 65% to 75%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, originated in current FY	0	1
Financing receivable, originated in FY before latest FY	18	127
Financing receivable, originated two years before latest FY	80	108
Financing receivable, originated three years before latest FY	113	6
Financing receivable, originated four years before latest FY	6	30
Financing receivable, originated five or more years before latest FY	20	17
Financing receivable, before allowance for credit losses	237	289
Agricultural | Loan-to-Value Ratio, 76% to 80%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, originated in current FY	0	0
Financing receivable, originated in FY before latest FY	0	0
Financing receivable, originated two years before latest FY	0	0
Financing receivable, originated three years before latest FY	0	0
Financing receivable, originated four years before latest FY	1	0
Financing receivable, originated five or more years before latest FY	0	0
Financing receivable, before allowance for credit losses	1	0
Agricultural | Loan-to-Value Ratio, Greater than 80%
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, originated in current FY	0	0
Financing receivable, originated in FY before latest FY	0	0
Financing receivable, originated two years before latest FY	0	0
Financing receivable, originated three years before latest FY	0	0
Financing receivable, originated four years before latest FY	0	0
Financing receivable, originated five or more years before latest FY	16	0
Financing receivable, before allowance for credit losses	16	0
Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, originated in current FY	587	105
Financing receivable, originated in FY before latest FY	222	1,308
Financing receivable, originated two years before latest FY	1,312	1,691
Financing receivable, originated three years before latest FY	1,661	146
Financing receivable, originated four years before latest FY	147	206
Financing receivable, originated five or more years before latest FY	1,614	1,551
Financing receivable, before allowance for credit losses	5,543	5,007
Residential | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, originated in current FY	586	105
Financing receivable, originated in FY before latest FY	222	1,286
Financing receivable, originated two years before latest FY	1,268	1,669
Financing receivable, originated three years before latest FY	1,640	145
Financing receivable, originated four years before latest FY	146	204
Financing receivable, originated five or more years before latest FY	1,563	1,508
Financing receivable, before allowance for credit losses	5,425	4,917
Residential | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, originated in current FY	1	0
Financing receivable, originated in FY before latest FY	0	22
Financing receivable, originated two years before latest FY	44	22
Financing receivable, originated three years before latest FY	21	1
Financing receivable, originated four years before latest FY	1	2
Financing receivable, originated five or more years before latest FY	51	43
Financing receivable, before allowance for credit losses	$ 118	$ 90

Investments (Past Due Mortgage

Investments (Past Due Mortgage Loans by Portfolio Segment) (Details) - Mortgage Loans - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	$ 23,464	$ 22,645
Current
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	23,199	22,520
30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	2	2
60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	36	30
90 to 179 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	66	23
180 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	161	70
Commercial
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	13,330	13,193
Commercial | Current
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	13,210	13,176
Commercial | 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	0	0
Commercial | 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	0	0
Commercial | 90 to 179 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	21	0
Commercial | 180 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	99	17
Agricultural
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	4,591	4,445
Agricultural | Current
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	4,566	4,429
Agricultural | 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	0	0
Agricultural | 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	0	0
Agricultural | 90 to 179 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	9	0
Agricultural | 180 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	16	16
Residential
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	5,543	5,007
Residential | Current
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	5,423	4,915
Residential | 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	2	2
Residential | 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	36	30
Residential | 90 to 179 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	36	23
Residential | 180 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit losses	$ 46	$ 37

Investments (Mortgage Loans in

Investments (Mortgage Loans in Nonaccrual Status by Portfolio Segment) (Details) - Mortgage Loans - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Nonaccrual [Line Items]
Financing receivable in nonaccrual status	$ 263	$ 107
Commercial
Financing Receivable, Nonaccrual [Line Items]
Financing receivable in nonaccrual status	120	17
Agricultural
Financing Receivable, Nonaccrual [Line Items]
Financing receivable in nonaccrual status	25	0
Residential
Financing Receivable, Nonaccrual [Line Items]
Financing receivable in nonaccrual status	$ 118	$ 90

Investments (Net Unrealized Inv

Investments (Net Unrealized Investment Gains (Losses)) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Components of net unrealized investment gains (losses) included in accumulated other comprehensive loss
Fixed maturity securities	$ (7,467)	$ (6,119)	$ (8,760)
Derivatives	469	351	638
Other	(12)	2	3
Subtotal	(7,010)	(5,766)	(8,119)
Amounts allocated from: Future policy benefits	977	652	917
Deferred income tax benefit (expense)	1,267	1,074	1,512
Net unrealized investment gains (losses)	$ (4,766)	$ (4,040)	$ (5,690)

Investments (Changes in Net Unr

Investments (Changes in Net Unrealized Investment Gains (Losses)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Unrealized investment gains (losses), beginning of year	$ (4,040)	$ (5,690)	$ 5,524
Unrealized investment gains (losses) during the year	(1,244)	2,353	(16,766)
Unrealized investment gains (losses) relating to: Future policy benefits	325	(265)	2,572
Unrealized investment gains (losses) relating to: Deferred income tax benefit (expense)	193	(438)	2,980
Unrealized investment gains (losses), end of year	(4,766)	(4,040)	(5,690)
Change in net unrealized investment gains (losses)	$ (726)	$ 1,650	$ (11,214)

Investments (Securities Lending

Investments (Securities Lending) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	$ 3,210	$ 3,277
Reinvestment portfolio — estimated fair value	3,217	3,246
Amortized cost
Securities Financing Transaction [Line Items]
Securities on loan	3,582	3,420
Estimated fair value
Securities Financing Transaction [Line Items]
Securities on loan	$ 3,127	$ 3,194

Investments (Securities Lendi_2

Investments (Securities Lending Remaining Tenor) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	$ 3,210	$ 3,277
Remaining Tenor of Securities Lending Agreements: Open
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	490	647
Remaining Tenor of Securities Lending Agreements: 1 Month or Less
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	1,834	1,046
Remaining Tenor of Securities Lending Agreements: 1 to 6 Months
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	886	1,584
U.S. government and agency
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	2,843	2,886
U.S. government and agency | Remaining Tenor of Securities Lending Agreements: Open
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	490	647
U.S. government and agency | Remaining Tenor of Securities Lending Agreements: 1 Month or Less
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	1,467	655
U.S. government and agency | Remaining Tenor of Securities Lending Agreements: 1 to 6 Months
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	886	1,584
U.S. corporate
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	248	252
U.S. corporate | Remaining Tenor of Securities Lending Agreements: Open
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	0	0
U.S. corporate | Remaining Tenor of Securities Lending Agreements: 1 Month or Less
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	248	252
U.S. corporate | Remaining Tenor of Securities Lending Agreements: 1 to 6 Months
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	0	0
Foreign corporate
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	105	130
Foreign corporate | Remaining Tenor of Securities Lending Agreements: Open
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	0	0
Foreign corporate | Remaining Tenor of Securities Lending Agreements: 1 Month or Less
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	105	130
Foreign corporate | Remaining Tenor of Securities Lending Agreements: 1 to 6 Months
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	0	0
Foreign government
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	14	9
Foreign government | Remaining Tenor of Securities Lending Agreements: Open
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	0	0
Foreign government | Remaining Tenor of Securities Lending Agreements: 1 Month or Less
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	14	9
Foreign government | Remaining Tenor of Securities Lending Agreements: 1 to 6 Months
Securities Financing Transaction [Line Items]
Cash collateral received from counterparties	$ 0	$ 0

Investments (Invested Assets on

Investments (Invested Assets on Deposit, Held In Trust and Pledged as Collateral) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Invested assets on deposit (regulatory deposits)	$ 6,249	$ 8,593
Invested assets held in trust (reinsurance agreements)	8,274	7,142
Invested assets pledged as collateral	12,471	13,979
Total invested assets on deposit, held in trust and pledged as collateral	$ 26,994	$ 29,714

Investments (Variable Interest

Investments (Variable Interest Entities) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Carrying amount	$ 238,537	$ 236,340
VIE, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Carrying amount	18,611	19,759
Maximum exposure to loss	20,752	22,026
VIE, Not Primary Beneficiary | Fixed maturity securities
Variable Interest Entity [Line Items]
Carrying amount	14,375	15,526
Maximum exposure to loss	15,474	16,771
VIE, Not Primary Beneficiary | Limited partnerships and LLCs
Variable Interest Entity [Line Items]
Carrying amount	4,236	4,233
Maximum exposure to loss	$ 5,278	$ 5,255

Investments (Net Investment Inc

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]
Gross investment income	$ 5,570	$ 5,024	$ 4,390
Less: Investment expenses	348	360	252
Net investment income	5,222	4,664	4,138
Fixed maturity securities
Net Investment Income [Line Items]
Gross investment income	3,746	3,516	3,077
Equity securities
Net Investment Income [Line Items]
Gross investment income	3	3	3
Mortgage loans
Net Investment Income [Line Items]
Gross investment income	1,002	958	842
Policy loans
Net Investment Income [Line Items]
Gross investment income	69	67	64
Limited partnerships and LLCs
Net Investment Income [Line Items]
Gross investment income	357	168	263
Cash, cash equivalents and short-term investments
Net Investment Income [Line Items]
Gross investment income	286	225	72
Other
Net Investment Income [Line Items]
Gross investment income	$ 107	$ 87	$ 69

Investments (Components of Net

Investments (Components of Net Investment Gains (Losses)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net Investment Gains (Losses) [Line Items]
Net investment gains (losses)	$ (295)	$ (246)	$ (248)
Fixed maturity securities
Net Investment Gains (Losses) [Line Items]
Net investment gains (losses)	(245)	(224)	(192)
Equity securities
Net Investment Gains (Losses) [Line Items]
Net investment gains (losses)	(6)	5	(14)
Mortgage loans
Net Investment Gains (Losses) [Line Items]
Net investment gains (losses)	(56)	(24)	(20)
Limited partnerships and LLCs
Net Investment Gains (Losses) [Line Items]
Net investment gains (losses)	(2)	(1)	(20)
Other
Net Investment Gains (Losses) [Line Items]
Net investment gains (losses)	$ 14	$ (2)	$ (2)

Investments (Sales or Disposals

Investments (Sales or Disposals of Fixed Maturity Securities) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Proceeds from sales or disposals of fixed maturity securities	$ 3,520	$ 2,301	$ 6,640
Fixed maturity securities, gross investment gains	20	15	52
Fixed maturity securities, gross investment losses	(193)	(216)	(236)
Fixed maturity securities, net investment gains (losses)	$ (173)	$ (201)	$ (184)

Investments (Fixed Maturity S_2

Investments (Fixed Maturity Securities - Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities, estimated fair value	$ 80,055	$ 80,991
Fixed maturity securities, allowance for credit losses	$ 81	21	$ 7
Fixed maturity securities with allowance for credit losses, number of securities	23
Fixed maturity securities, total write-offs	$ 12	8
Fixed maturity securities
Debt Securities, Available-for-sale [Line Items]
Accrued interest receivable	672	655
Non-Income Producing
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities, estimated fair value	$ 30	$ 52

Investments (Mortgage Loans - N

Investments (Mortgage Loans - Narrative) (Details) - Mortgage Loans $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) portfolioSegment	Dec. 31, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 132	$ 123
Number of investment portfolio segments | portfolioSegment	3
Financing receivables in nonaccrual status with no allowance for credit losses	$ 3	0
Financing receivables in nonaccrual status, investment income	$ 6	2
Financing Receivable, Troubled Debt Restructuring		$ 0
Minimum | Performing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit losses by performance status as a percentage of financing receivables, before allowance for credit losses	99%	99%
Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables purchased from third parties	$ 1,000	$ 311
Financing Receivable, Troubled Debt Restructuring	0
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Troubled Debt Restructuring	$ 386
Mortgage loans, percent of total carrying value	2%
Agricultural
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Troubled Debt Restructuring	$ 0

Investments (Other Invested Ass

Investments (Other Invested Assets And Leveraged Leases - Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Leveraged leases by performance status as a percentage of leveraged leases	100%	100%
Leveraged leases, net of allowance for credit losses	$ 60	$ 47
Leveraged leases, allowance for credit losses	$ 0	$ 13
Minimum
Derivative [Line Items]
Percentage of other invested assets comprised of freestanding derivatives with positive estimated fair values	75%
Leveraged leased, term (in years)	1 year
Maximum
Derivative [Line Items]
Leveraged leases, allowance for credit losses	$ 1
Leveraged leased, term (in years)	8 years

Investments (Securities Lendi_3

Investments (Securities Lending - Narrative) (Details) $ in Millions	Dec. 31, 2024 USD ($)
Investments, Debt and Equity Securities [Abstract]
Cash collateral on deposit from counterparties	$ 478
Percentage of reinvestment portfolio invested in liquid assets	51%

Investments (Invested Assets _2

Investments (Invested Assets on Deposit, Held in Trust and Pledged as Collateral - Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Restricted Cash and Cash Equivalents Items [Line Items]
Invested assets on deposit (regulatory deposits)	$ 6,249	$ 8,593
Invested assets held in trust (reinsurance agreements)	8,274	7,142
Restricted Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Invested assets on deposit (regulatory deposits)	68	102
Invested assets held in trust (reinsurance agreements)	334	120
FHLB common stock	$ 222	$ 245

Investments (Collectively Signi

Investments (Collectively Significant Equity Method Investments - Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Carrying value of investments accounted for under the equity method	$ 4,800
Total assets	238,537	$ 236,340
Total liabilities	233,513	231,332
Net income (loss)	388	(1,112)	$ 3,879
Nonconsolidated Equity Method Investment
Schedule of Equity Method Investments [Line Items]
Unfunded commitments	1,300
Total assets	904,000	799,200
Total liabilities	78,500	56,800
Net income (loss)	$ 60,100	$ 24,800	$ (12,800)

Investments (Net Investment I_2

Investments (Net Investment Income - Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net Investment Income [Line Items]
Net investment income	$ 5,222	$ 4,664	$ 4,138
Other limited partnership interests
Net Investment Income [Line Items]
Net investment income	$ 367	$ 187	$ 170

Investments (Components of Ne_2

Investments (Components of Net Investment Gains (Losses) - Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Gain (Loss) on Securities [Line Items]
Net investment gains (losses)	$ (295)	$ (246)	$ (248)
Foreign Exchange
Gain (Loss) on Securities [Line Items]
Net investment gains (losses)	$ (3)	$ (2)	$ (17)

Derivatives (Primary Risks Mana

Derivatives (Primary Risks Managed by Derivatives) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 277,424	$ 173,236
Derivative assets:	4,135	3,714
Derivative liabilities:	5,248	5,088
Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	273,101	169,297
Derivative assets:	3,687	3,366
Derivative liabilities:	5,223	5,043
Cash flow hedges: | Derivatives Designated as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	4,323	3,939
Derivative assets:	448	348
Derivative liabilities:	25	45
Interest rate swaps | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	69,303	31,252
Derivative assets:	131	140
Derivative liabilities:	444	103
Interest rate swaps | Cash flow hedges: | Derivatives Designated as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	500	0
Derivative assets:	9	0
Derivative liabilities:	0	0
Interest rate floors | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	8,000	3,500
Derivative assets:	1	7
Derivative liabilities:	30	1
Interest rate caps | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	7,850	7,050
Derivative assets:	14	19
Derivative liabilities:	14	1
Interest rate futures | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	171	0
Derivative assets:	0	0
Derivative liabilities:	0	0
Interest rate options | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	23,060	33,680
Derivative assets:	11	47
Derivative liabilities:	371	167
Interest rate forwards | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	16,352	17,017
Derivative assets:	121	32
Derivative liabilities:	1,876	1,937
Foreign currency swaps | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	685	747
Derivative assets:	113	101
Derivative liabilities:	0	1
Foreign currency swaps | Cash flow hedges: | Derivatives Designated as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	3,823	3,939
Derivative assets:	439	348
Derivative liabilities:	25	45
Foreign currency forwards | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	386	535
Derivative assets:	12	0
Derivative liabilities:	0	9
Credit default swaps — written | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	780	1,405
Derivative assets:	19	27
Derivative liabilities:	0	0
Equity futures | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	316	0
Derivative assets:	0	0
Derivative liabilities:	1	0
Equity index options | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	39,897	20,099
Derivative assets:	1,722	757
Derivative liabilities:	1,041	687
Equity total return swaps | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	106,301	53,742
Derivative assets:	1,543	2,236
Derivative liabilities:	1,446	2,137
Hybrid options | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	0	270
Derivative assets:	0	0
Derivative liabilities:	$ 0	$ 0

Derivatives (Derivatives Pertai

Derivatives (Derivatives Pertaining to Hedged Items) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Derivatives	$ (3,668)	$ (3,907)	$ (592)
Net Derivative Gains (Losses) Recognized for Hedged Items	(19)	(21)	(60)
Net Investment Income	5,222	4,664	4,138
Policyholder Benefits and Claims	8	0	0
Amount of Gains (Losses) Deferred in AOCI	136	(276)	331
Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Hedged Items	(9)	(13)	(48)
Policyholder Benefits and Claims	0	0	0
Amount of Gains (Losses) Deferred in AOCI	0	0	0
Cash flow hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Hedged Items	(10)	(8)	(12)
Policyholder Benefits and Claims	8	0	0
Amount of Gains (Losses) Deferred in AOCI	136	(276)	331
Net Derivative Gains (Losses) Recognized for Derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Derivatives	(3,649)	(3,886)	(532)
Net Derivative Gains (Losses) Recognized for Derivatives | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Derivatives	(3,664)	(3,894)	(550)
Net Derivative Gains (Losses) Recognized for Derivatives | Cash flow hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Derivatives	15	8	18
Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Net Investment Income	54	55	57
Net Investment Income | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Net Investment Income	0	0	0
Net Investment Income | Cash flow hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Net Investment Income	54	55	57
Interest rate | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Hedged Items	0	0	0
Policyholder Benefits and Claims	0	0	0
Amount of Gains (Losses) Deferred in AOCI	0	0	0
Interest rate | Cash flow hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Hedged Items	0	0	0
Policyholder Benefits and Claims	8	0	0
Amount of Gains (Losses) Deferred in AOCI	9	(1)	(50)
Interest rate | Net Derivative Gains (Losses) Recognized for Derivatives | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Derivatives	(1,690)	(384)	(4,001)
Interest rate | Net Derivative Gains (Losses) Recognized for Derivatives | Cash flow hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Derivatives	2	1	5
Interest rate | Net Investment Income | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Net Investment Income	0	0	0
Interest rate | Net Investment Income | Cash flow hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Net Investment Income	3	3	4
Foreign currency exchange rate | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Hedged Items	(9)	(13)	(48)
Policyholder Benefits and Claims	0	0	0
Amount of Gains (Losses) Deferred in AOCI	0	0	0
Foreign currency exchange rate | Cash flow hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Hedged Items	(10)	(8)	(12)
Policyholder Benefits and Claims	0	0	0
Amount of Gains (Losses) Deferred in AOCI	127	(275)	381
Foreign currency exchange rate | Net Derivative Gains (Losses) Recognized for Derivatives | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Derivatives	69	(15)	120
Foreign currency exchange rate | Net Derivative Gains (Losses) Recognized for Derivatives | Cash flow hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Derivatives	13	7	13
Foreign currency exchange rate | Net Investment Income | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Net Investment Income	0	0	0
Foreign currency exchange rate | Net Investment Income | Cash flow hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Net Investment Income	51	52	53
Credit | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Hedged Items	0	0	0
Policyholder Benefits and Claims	0	0	0
Amount of Gains (Losses) Deferred in AOCI	0	0	0
Credit | Net Derivative Gains (Losses) Recognized for Derivatives | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Derivatives	14	32	(2)
Credit | Net Investment Income | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Net Investment Income	0	0	0
Equity market | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Hedged Items	0	0	0
Policyholder Benefits and Claims	0	0	0
Amount of Gains (Losses) Deferred in AOCI	0	0	0
Equity market | Net Derivative Gains (Losses) Recognized for Derivatives | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Derivatives	1,894	570	590
Equity market | Net Investment Income | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Net Investment Income	0	0	0
Embedded | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Hedged Items	0	0	0
Policyholder Benefits and Claims	0	0	0
Amount of Gains (Losses) Deferred in AOCI	0	0	0
Embedded | Net Derivative Gains (Losses) Recognized for Derivatives | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Net Derivative Gains (Losses) Recognized for Derivatives	(3,951)	(4,097)	2,743
Embedded | Net Investment Income | Derivatives Not Designated or Not Qualifying as Hedging Instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Net Investment Income	$ 0	$ 0	$ 0

Derivatives (Credit Derivatives

Derivatives (Credit Derivatives) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 19	$ 27
Maximum Amount of Future Payments under Credit Default Swaps	$ 780	$ 1,405
Weighted Average Years to Maturity (2)	4 years 4 months 24 days	3 years 10 months 24 days
Credit default swaps | Aaa/Aa/A
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 2	$ 6
Maximum Amount of Future Payments under Credit Default Swaps	$ 100	$ 419
Weighted Average Years to Maturity (2)	2 years 8 months 12 days	1 year 7 months 6 days
Credit default swaps | Baa
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 7	$ 19
Maximum Amount of Future Payments under Credit Default Swaps	$ 300	$ 958
Weighted Average Years to Maturity (2)	4 years 6 months	4 years 10 months 24 days
Credit default swaps | Ba
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 10	$ 2
Maximum Amount of Future Payments under Credit Default Swaps	$ 376	$ 24
Weighted Average Years to Maturity (2)	4 years 9 months 18 days	3 years
Credit default swaps | Caa and Lower
Credit Derivatives [Line Items]
Estimated Fair Value of Credit Default Swaps	$ 0	$ 0
Maximum Amount of Future Payments under Credit Default Swaps	$ 4	$ 4
Weighted Average Years to Maturity (2)	1 year	2 years

Derivatives (Estimated Fair Val

Derivatives (Estimated Fair Value of Derivatives Assets and Liabilities after Master Netting Agreements and Cash Collateral) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Offsetting Derivative Assets [Abstract]
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	$ 4,140	$ 3,506
Derivative Asset, Not Offset, Policy Election Deduction	(3,039)	(3,112)
Derivative Asset, Collateral, Obligation to Return Cash, Offset	(540)	(164)
Derivative Asset, Fair Value, Amount Offset Against Collateral	561	230
Derivative Asset, Collateral, Obligation to Return Securities, Offset	(559)	(194)
Derivative Asset, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election	2	36
Offsetting Derivative Liabilities [Abstract]
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	5,353	4,925
Derivative Liability, Not Offset, Policy Election Deduction	(3,039)	(3,112)
Derivative Liability, Collateral, Right to Reclaim Cash, Offset	0	(8)
Derivative Liability, Fair Value, Amount Offset Against Collateral	2,314	1,805
Derivative Liability, Collateral, Right to Reclaim Securities, Offset	(2,306)	(1,805)
Derivative Liability, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election	$ 8	$ 0

Derivatives (Credit Risk on Fre

Derivatives (Credit Risk on Freestanding Derivatives) (Details) - Derivatives Subject To Credit-Contingent Provisions - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Credit Derivatives [Line Items]
Estimated fair value of derivatives in a net liability position (1)	$ 2,314	$ 1,813
Fixed maturity securities
Credit Derivatives [Line Items]
Estimated fair value of collateral provided (2):	$ 4,883	$ 4,811

Derivatives (Derivatives - Narr

Derivatives (Derivatives - Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative AOCI associated with Cash Flow Hedges Pre Tax	$ 469	$ 351

Fair Value (Recurring Fair Valu

Fair Value (Recurring Fair Value Measurements) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets [Abstract]
Fixed maturity securities, estimated fair value	$ 80,055	$ 80,991
Equity securities	77	102
Short-term investments	1,868	1,169
Derivative assets:	4,135	3,714
Market risk benefit assets	1,092	656
Separate account assets	85,636	88,271
Liabilities [Abstract]
Market risk benefit liabilities	8,329	10,323
Derivative liabilities:	5,248	5,088
Recurring
Assets [Abstract]
Fixed maturity securities, estimated fair value	80,055	80,991
Equity securities	77	102
Short-term investments	1,868	1,169
Derivative assets:	4,135	3,714
Embedded derivatives on index-linked annuities (2)	47	0
Market risk benefit assets	1,092	656
Separate account assets	85,636	88,271
Total assets	172,910	174,903
Liabilities [Abstract]
Market risk benefit liabilities	8,329	10,323
Derivative liabilities:	5,248	5,088
Embedded derivatives on index-linked annuities (2)	11,540	8,186
Total liabilities	25,117	23,597
Recurring | Interest rate
Assets [Abstract]
Derivative assets:	287	245
Liabilities [Abstract]
Derivative liabilities:	2,735	2,209
Recurring | Foreign currency exchange rate
Assets [Abstract]
Derivative assets:	564	449
Liabilities [Abstract]
Derivative liabilities:	25	55
Recurring | Credit
Assets [Abstract]
Derivative assets:	19	27
Recurring | Equity market
Assets [Abstract]
Derivative assets:	3,265	2,993
Liabilities [Abstract]
Derivative liabilities:	2,488	2,824
Recurring | U.S. corporate
Assets [Abstract]
Fixed maturity securities, estimated fair value	37,123	35,755
Recurring | Foreign corporate
Assets [Abstract]
Fixed maturity securities, estimated fair value	11,830	11,665
Recurring | RMBS
Assets [Abstract]
Fixed maturity securities, estimated fair value	7,287	7,430
Recurring | U.S. government and agency
Assets [Abstract]
Fixed maturity securities, estimated fair value	6,747	8,419
Recurring | CMBS
Assets [Abstract]
Fixed maturity securities, estimated fair value	6,356	6,410
Recurring | ABS
Assets [Abstract]
Fixed maturity securities, estimated fair value	6,312	6,406
Recurring | State and political subdivision
Assets [Abstract]
Fixed maturity securities, estimated fair value	3,441	3,874
Recurring | Foreign government
Assets [Abstract]
Fixed maturity securities, estimated fair value	959	1,032
Recurring | Level 1
Assets [Abstract]
Fixed maturity securities, estimated fair value	2,731	3,786
Equity securities	56	55
Short-term investments	1,414	614
Derivative assets:	0	0
Embedded derivatives on index-linked annuities (2)	0	0
Market risk benefit assets	0	0
Separate account assets	3	20
Total assets	4,204	4,475
Liabilities [Abstract]
Market risk benefit liabilities	0	0
Derivative liabilities:	1	0
Embedded derivatives on index-linked annuities (2)	0	0
Total liabilities	1	0
Recurring | Level 1 | Interest rate
Assets [Abstract]
Derivative assets:	0	0
Liabilities [Abstract]
Derivative liabilities:	0	0
Recurring | Level 1 | Foreign currency exchange rate
Assets [Abstract]
Derivative assets:	0	0
Liabilities [Abstract]
Derivative liabilities:	0	0
Recurring | Level 1 | Credit
Assets [Abstract]
Derivative assets:	0	0
Recurring | Level 1 | Equity market
Assets [Abstract]
Derivative assets:	0	0
Liabilities [Abstract]
Derivative liabilities:	1	0
Recurring | Level 1 | U.S. corporate
Assets [Abstract]
Fixed maturity securities, estimated fair value	0	0
Recurring | Level 1 | Foreign corporate
Assets [Abstract]
Fixed maturity securities, estimated fair value	0	0
Recurring | Level 1 | RMBS
Assets [Abstract]
Fixed maturity securities, estimated fair value	0	0
Recurring | Level 1 | U.S. government and agency
Assets [Abstract]
Fixed maturity securities, estimated fair value	2,731	3,786
Recurring | Level 1 | CMBS
Assets [Abstract]
Fixed maturity securities, estimated fair value	0	0
Recurring | Level 1 | ABS
Assets [Abstract]
Fixed maturity securities, estimated fair value	0	0
Recurring | Level 1 | State and political subdivision
Assets [Abstract]
Fixed maturity securities, estimated fair value	0	0
Recurring | Level 1 | Foreign government
Assets [Abstract]
Fixed maturity securities, estimated fair value	0	0
Recurring | Level 2
Assets [Abstract]
Fixed maturity securities, estimated fair value	75,846	75,469
Equity securities	6	22
Short-term investments	452	555
Derivative assets:	4,126	3,696
Embedded derivatives on index-linked annuities (2)	0	0
Market risk benefit assets	0	0
Separate account assets	85,633	88,251
Total assets	166,063	167,993
Liabilities [Abstract]
Market risk benefit liabilities	0	0
Derivative liabilities:	5,247	5,088
Embedded derivatives on index-linked annuities (2)	0	0
Total liabilities	5,247	5,088
Recurring | Level 2 | Interest rate
Assets [Abstract]
Derivative assets:	287	245
Liabilities [Abstract]
Derivative liabilities:	2,735	2,209
Recurring | Level 2 | Foreign currency exchange rate
Assets [Abstract]
Derivative assets:	557	437
Liabilities [Abstract]
Derivative liabilities:	25	55
Recurring | Level 2 | Credit
Assets [Abstract]
Derivative assets:	17	21
Recurring | Level 2 | Equity market
Assets [Abstract]
Derivative assets:	3,265	2,993
Liabilities [Abstract]
Derivative liabilities:	2,487	2,824
Recurring | Level 2 | U.S. corporate
Assets [Abstract]
Fixed maturity securities, estimated fair value	36,427	34,760
Recurring | Level 2 | Foreign corporate
Assets [Abstract]
Fixed maturity securities, estimated fair value	11,434	11,340
Recurring | Level 2 | RMBS
Assets [Abstract]
Fixed maturity securities, estimated fair value	7,270	7,415
Recurring | Level 2 | U.S. government and agency
Assets [Abstract]
Fixed maturity securities, estimated fair value	4,016	4,633
Recurring | Level 2 | CMBS
Assets [Abstract]
Fixed maturity securities, estimated fair value	6,330	6,371
Recurring | Level 2 | ABS
Assets [Abstract]
Fixed maturity securities, estimated fair value	5,990	6,080
Recurring | Level 2 | State and political subdivision
Assets [Abstract]
Fixed maturity securities, estimated fair value	3,441	3,874
Recurring | Level 2 | Foreign government
Assets [Abstract]
Fixed maturity securities, estimated fair value	938	996
Recurring | Level 3
Assets [Abstract]
Fixed maturity securities, estimated fair value	1,478	1,736
Equity securities	15	25
Short-term investments	2	0
Derivative assets:	9	18
Embedded derivatives on index-linked annuities (2)	47	0
Market risk benefit assets	1,092	656
Separate account assets	0	0
Total assets	2,643	2,435
Liabilities [Abstract]
Market risk benefit liabilities	8,329	10,323
Derivative liabilities:	0	0
Embedded derivatives on index-linked annuities (2)	11,540	8,186
Total liabilities	19,869	18,509
Recurring | Level 3 | Interest rate
Assets [Abstract]
Derivative assets:	0	0
Liabilities [Abstract]
Derivative liabilities:	0	0
Recurring | Level 3 | Foreign currency exchange rate
Assets [Abstract]
Derivative assets:	7	12
Liabilities [Abstract]
Derivative liabilities:	0	0
Recurring | Level 3 | Credit
Assets [Abstract]
Derivative assets:	2	6
Recurring | Level 3 | Equity market
Assets [Abstract]
Derivative assets:	0	0
Liabilities [Abstract]
Derivative liabilities:	0	0
Recurring | Level 3 | U.S. corporate
Assets [Abstract]
Fixed maturity securities, estimated fair value	696	995
Recurring | Level 3 | Foreign corporate
Assets [Abstract]
Fixed maturity securities, estimated fair value	396	325
Recurring | Level 3 | RMBS
Assets [Abstract]
Fixed maturity securities, estimated fair value	17	15
Recurring | Level 3 | U.S. government and agency
Assets [Abstract]
Fixed maturity securities, estimated fair value	0	0
Recurring | Level 3 | CMBS
Assets [Abstract]
Fixed maturity securities, estimated fair value	26	39
Recurring | Level 3 | ABS
Assets [Abstract]
Fixed maturity securities, estimated fair value	322	326
Recurring | Level 3 | State and political subdivision
Assets [Abstract]
Fixed maturity securities, estimated fair value	0	0
Recurring | Level 3 | Foreign government
Assets [Abstract]
Fixed maturity securities, estimated fair value	$ 21	$ 36

Fair Value (Assets and Liabilit

Fair Value (Assets and Liabilities Measured - Quantitative Information) (Details) - Level 3	Dec. 31, 2024	Dec. 31, 2023
Measurement Input, Mortality Rate | Minimum
Fair Value, Option, Quantitative Disclosures
Market Risk Benefit, Measurement Input	0.0004	0.0004
Embedded Derivative Liability, Measurement Input	0.0003	0.0003
Measurement Input, Mortality Rate | Maximum
Fair Value, Option, Quantitative Disclosures
Market Risk Benefit, Measurement Input	0.1290	0.1290
Embedded Derivative Liability, Measurement Input	0.0786	0.0924
Measurement Input, Lapse Rate | Minimum
Fair Value, Option, Quantitative Disclosures
Market Risk Benefit, Measurement Input	0.0100	0.0100
Embedded Derivative Liability, Measurement Input	0.0100	0.0100
Measurement Input, Lapse Rate | Maximum
Fair Value, Option, Quantitative Disclosures
Market Risk Benefit, Measurement Input	0.2020	0.2280
Embedded Derivative Liability, Measurement Input	0.6230	0.6230
Measurement Input, Utilization Rate | Minimum
Fair Value, Option, Quantitative Disclosures
Market Risk Benefit, Measurement Input	0	0
Measurement Input, Utilization Rate | Maximum
Fair Value, Option, Quantitative Disclosures
Market Risk Benefit, Measurement Input	0.2500	0.2500
Measurement Input, Withdrawal Rate | Minimum
Fair Value, Option, Quantitative Disclosures
Market Risk Benefit, Measurement Input	0	0
Embedded Derivative Liability, Measurement Input	0.0050	0.0050
Measurement Input, Withdrawal Rate | Maximum
Fair Value, Option, Quantitative Disclosures
Market Risk Benefit, Measurement Input	0.1000	0.1000
Embedded Derivative Liability, Measurement Input	0.1300	0.0900
Measurement Input, Long Term Equity Volatilities | Minimum
Fair Value, Option, Quantitative Disclosures
Market Risk Benefit, Measurement Input	0.1222	0.1259
Measurement Input, Long Term Equity Volatilities | Maximum
Fair Value, Option, Quantitative Disclosures
Market Risk Benefit, Measurement Input	0.3704	0.2250
Measurement Input, Entity Credit Risk | Minimum
Fair Value, Option, Quantitative Disclosures
Market Risk Benefit, Measurement Input	0.0020	0.0076
Embedded Derivative Liability, Measurement Input	0.0030	0.0045
Measurement Input, Entity Credit Risk | Maximum
Fair Value, Option, Quantitative Disclosures
Market Risk Benefit, Measurement Input	0.0119	0.0163
Embedded Derivative Liability, Measurement Input	0.0163	0.0174

Fair Value (Unobservable Input

Fair Value (Unobservable Input Reconciliation) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net Derivatives (2)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance, beginning of period	$ 18	$ 35
Total realized/unrealized gains (losses) included in net income (loss) (3) (4)	1	(6)	$ (9)
Total realized/unrealized gains (losses) included in AOCI	0	(3)	17
Purchases (5)	0	4
Sales (5)	0	0
Issuances (5)	0	0
Settlements (5)	(4)	0
Transfers into Level 3 (6)	0	0
Transfers out of Level 3 (6)	(6)	(12)
Balance, end of period	9	18	35
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	1	(5)	(1)
Changes in unrealized gains (losses) included in OCI	0	(3)	17
Embedded Derivatives on Index-Linked Annuities
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance, beginning of period	(8,186)	(3,932)
Total realized/unrealized gains (losses) included in net income (loss) (3) (4)	(3,951)	(4,097)	2,743
Total realized/unrealized gains (losses) included in AOCI	0	0	0
Purchases (5)	0	0
Sales (5)	0	0
Issuances (5)	0	0
Settlements (5)	644	(157)
Transfers into Level 3 (6)	0	0
Transfers out of Level 3 (6)	0	0
Balance, end of period	(11,493)	(8,186)	(3,932)
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	(4,687)	(4,513)	2,485
Changes in unrealized gains (losses) included in OCI	0	0	0
Corporate (1)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	1,320	1,787
Total realized/unrealized gains (losses) included in net income (loss) (3) (4)	(67)	(11)	(5)
Total realized/unrealized gains (losses) included in AOCI	2	28	(266)
Purchases (5)	323	162
Sales (5)	(239)	(116)
Issuances (5)	0	0
Settlements (5)	0	0
Transfers into Level 3 (6)	53	188
Transfers out of Level 3 (6)	(300)	(718)
Balance, end of period	1,092	1,320	1,787
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	(59)	(11)	3
Changes in unrealized gains (losses) included in OCI	(33)	11	(268)
Structured Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	380	365
Total realized/unrealized gains (losses) included in net income (loss) (3) (4)	1	0	1
Total realized/unrealized gains (losses) included in AOCI	3	5	(23)
Purchases (5)	137	85
Sales (5)	(87)	(22)
Issuances (5)	0	0
Settlements (5)	0	0
Transfers into Level 3 (6)	0	3
Transfers out of Level 3 (6)	(69)	(56)
Balance, end of period	365	380	365
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	0	0	0
Changes in unrealized gains (losses) included in OCI	0	4	(23)
Foreign government
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	36	38
Total realized/unrealized gains (losses) included in net income (loss) (3) (4)	0	0	0
Total realized/unrealized gains (losses) included in AOCI	0	3	(10)
Purchases (5)	0	0
Sales (5)	0	(2)
Issuances (5)	0	0
Settlements (5)	0	0
Transfers into Level 3 (6)	0	0
Transfers out of Level 3 (6)	(15)	(3)
Balance, end of period	21	36	38
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	0	0	0
Changes in unrealized gains (losses) included in OCI	0	3	(10)
Equity Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	25	27
Total realized/unrealized gains (losses) included in net income (loss) (3) (4)	(10)	(3)	0
Total realized/unrealized gains (losses) included in AOCI	0	0	0
Purchases (5)	0	2
Sales (5)	0	(1)
Issuances (5)	0	0
Settlements (5)	0	0
Transfers into Level 3 (6)	0	0
Transfers out of Level 3 (6)	0	0
Balance, end of period	15	25	27
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	0	(2)	1
Changes in unrealized gains (losses) included in OCI	0	0	0
Short-term Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	0	0
Total realized/unrealized gains (losses) included in net income (loss) (3) (4)	0	0	0
Total realized/unrealized gains (losses) included in AOCI	0	0	0
Purchases (5)	2	0
Sales (5)	0	0
Issuances (5)	0	0
Settlements (5)	0	0
Transfers into Level 3 (6)	0	0
Transfers out of Level 3 (6)	0	0
Balance, end of period	2	0	0
Changes in unrealized gains (losses) included in net income (loss) for the instruments still held at end of period	0	0	0
Changes in unrealized gains (losses) included in OCI	$ 0	$ 0	$ 0

Fair Value (Financial Instrumen

Fair Value (Financial Instruments Carried at Other Than Fair Value) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets
Policy loans	$ 2,024	$ 1,331
Liabilities
Separate account liabilities	85,636	88,271
Carrying Value
Assets
Mortgage loans	23,286	22,508
Policy loans	2,024	1,331
Other invested assets	233	257
Premiums, reinsurance and other receivables	8,527	7,577
Liabilities
Policyholder account balances	31,928	31,471
Long-term debt	3,155	3,156
Other liabilities	1,338	1,142
Separate account liabilities	1,246	1,150
Estimated Fair Value
Assets
Mortgage loans	21,373	20,609
Policy loans	2,104	1,455
Other invested assets	233	257
Premiums, reinsurance and other receivables	9,277	7,724
Liabilities
Policyholder account balances	31,563	30,606
Long-term debt	2,787	2,769
Other liabilities	1,338	1,142
Separate account liabilities	1,246	1,150
Estimated Fair Value | Level 1
Assets
Mortgage loans	0	0
Policy loans	0	0
Other invested assets	0	0
Premiums, reinsurance and other receivables	0	0
Liabilities
Policyholder account balances	0	0
Long-term debt	0	0
Other liabilities	0	0
Separate account liabilities	0	0
Estimated Fair Value | Level 2
Assets
Mortgage loans	0	0
Policy loans	1,161	518
Other invested assets	222	245
Premiums, reinsurance and other receivables	55	88
Liabilities
Policyholder account balances	0	0
Long-term debt	2,787	2,769
Other liabilities	691	463
Separate account liabilities	1,246	1,150
Estimated Fair Value | Level 3
Assets
Mortgage loans	21,373	20,609
Policy loans	943	937
Other invested assets	11	12
Premiums, reinsurance and other receivables	9,222	7,636
Liabilities
Policyholder account balances	31,563	30,606
Long-term debt	0	0
Other liabilities	647	679
Separate account liabilities	$ 0	$ 0

Long-term Debt (Details)

Long-term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Debt instrument, face value	$ 3,182	$ 3,185
Debt instrument, carrying value	$ 3,155	$ 3,156
Senior Notes Due 2027
Debt Instrument [Line Items]
Debt instrument, stated interest rate	3.70%	3.70%
Debt instrument, face value	$ 757	$ 757
Debt instrument, carrying value	$ 756	$ 756
Senior Notes Due 2030
Debt Instrument [Line Items]
Debt instrument, stated interest rate	5.625%	5.625%
Debt instrument, face value	$ 615	$ 615
Debt instrument, carrying value	$ 615	$ 614
Senior Notes Due 2047
Debt Instrument [Line Items]
Debt instrument, stated interest rate	4.70%	4.70%
Debt instrument, face value	$ 1,014	$ 1,014
Debt instrument, carrying value	$ 1,002	$ 1,001
Senior Notes Due 2051
Debt Instrument [Line Items]
Debt instrument, stated interest rate	3.85%	3.85%
Debt instrument, face value	$ 400	$ 400
Debt instrument, carrying value	$ 397	$ 397
Junior Subordinated Debentures Due 2058
Debt Instrument [Line Items]
Debt instrument, stated interest rate	6.25%	6.25%
Debt instrument, face value	$ 375	$ 375
Debt instrument, carrying value	$ 364	$ 364
Non-recourse Debt Due 2030
Debt Instrument [Line Items]
Debt instrument, stated interest rate	7.028%	7.028%
Debt instrument, face value	$ 21	$ 24
Debt instrument, carrying value	$ 21	$ 24

Long-term Debt (Narrative) (Det

Long-term Debt (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Apr. 15, 2022	May 07, 2019
Debt Instrument [Line Items]
Debt instrument, unamortized debt issuance costs and debt discount	$ 27	$ 30
Long-term debt maturities, year one	3
Long-term debt maturities, year two	3
Long-term debt maturities, year three	761
Long-term debt maturities, year four	3
Long-term debt maturities, year five	4
Long-term debt maturities, after year five	2,400
Interest expense on long-term debt	152	153	$ 153
Revolving Credit Facility Maturing 2027
Debt Instrument [Line Items]
Credit facilities, maximum borrowing capacity				$ 1,000
Credit facilities, outstanding balance	0
Credit facilities, letters of credit outstanding	0
BHF Revolving Credit Facility Due 2024
Debt Instrument [Line Items]
Credit facilities, maximum borrowing capacity					$ 1,000
BRCD Reinsurance Financing Arrangement
Debt Instrument [Line Items]
Credit facilities, maximum borrowing capacity	15,000
Credit facilities, outstanding balance	0
Credit facilities, remaining borrowing capacity	15,000
Credit facilities, commitment fee amount	21	$ 21	$ 26
BLIC Repurchase Facility
Debt Instrument [Line Items]
Credit facilities, maximum borrowing capacity	2,500
Credit facilities, outstanding balance	$ 0

Equity (Preferred Stock) (Detai

Equity (Preferred Stock) (Details) - shares	1 Months Ended				12 Months Ended
	Nov. 30, 2021	Nov. 30, 2020	May 31, 2020	Mar. 31, 2019	Dec. 31, 2024	Dec. 31, 2023	Mar. 25, 2019
Class of Stock [Line Items]
Preferred stock, shares authorized					100,000,000	100,000,000
Preferred stock, shares issued					70,100	70,100
Preferred stock, shares outstanding					70,100	70,100
6.600% Non-Cumulative Preferred Stock, Series A
Class of Stock [Line Items]
Preferred stock, annual dividend rate				6.60%	6.60%	6.60%
Preferred stock, shares authorized					17,000	17,000
Preferred stock, shares issued					17,000	17,000	17,000
Preferred stock, shares outstanding					17,000	17,000
6.750% Non-Cumulative Preferred Stock, Series B
Class of Stock [Line Items]
Preferred stock, annual dividend rate			6.75%		6.75%	6.75%
Preferred stock, shares authorized					16,100	16,100
Preferred stock, shares issued			16,100		16,100	16,100
Preferred stock, shares outstanding					16,100	16,100
5.375% Non-Cumulative Preferred Stock, Series C
Class of Stock [Line Items]
Preferred stock, annual dividend rate		5.375%			5.375%	5.375%
Preferred stock, shares authorized					23,000	23,000
Preferred stock, shares issued		23,000			23,000	23,000
Preferred stock, shares outstanding					23,000	23,000
4.625% Non-Cumulative Preferred Stock, Series D
Class of Stock [Line Items]
Preferred stock, annual dividend rate	4.625%				4.625%	4.625%
Preferred stock, shares authorized					14,000	14,000
Preferred stock, shares issued	14,000				14,000	14,000
Preferred stock, shares outstanding					14,000	14,000
Not designated
Class of Stock [Line Items]
Preferred stock, shares authorized					99,929,900	99,929,900
Preferred stock, shares issued					0	0
Preferred stock, shares outstanding					0	0

Equity (Preferred Stock Dividen

Equity (Preferred Stock Dividends) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Preferred stock, aggregate dividends declared	$ 102	$ 102	$ 104
6.600% Non-Cumulative Preferred Stock, Series A
Class of Stock [Line Items]
Preferred stock, dividends declared per share	$ 1,650	$ 1,650	$ 1,650
Preferred stock, aggregate dividends declared	$ 28	$ 28	$ 28
6.750% Non-Cumulative Preferred Stock, Series B
Class of Stock [Line Items]
Preferred stock, dividends declared per share	$ 1,687.52	$ 1,687.52	$ 1,687.52
Preferred stock, aggregate dividends declared	$ 28	$ 28	$ 28
5.375% Non-Cumulative Preferred Stock, Series C
Class of Stock [Line Items]
Preferred stock, dividends declared per share	$ 1,343.76	$ 1,343.76	$ 1,343.76
Preferred stock, aggregate dividends declared	$ 30	$ 30	$ 31
4.625% Non-Cumulative Preferred Stock, Series D
Class of Stock [Line Items]
Preferred stock, dividends declared per share	$ 1,156.24	$ 1,156.24	$ 1,262.23
Preferred stock, aggregate dividends declared	$ 16	$ 16	$ 17

Equity (Common Stock) (Details)

Equity (Common Stock) (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, shares outstanding at beginning of year	63,503,355	68,278,068	77,870,072
Common stock, shares issued	661,758	665,146	639,980
Common stock, shares repurchased	(5,536,064)	(5,439,859)	(10,231,984)
Common stock, shares outstanding at end of year	58,629,049	63,503,355	68,278,068

Equity (Share-Based Compensatio

Equity (Share-Based Compensation Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 23	$ 29	$ 22
Share-based compensation expense, income tax benefit	5	6	5
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	14	13	13
Performance Shares Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	8	15	8
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 1	$ 1	$ 1

Equity (RSUs and PSUs) (Details

Equity (RSUs and PSUs) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested awards, beginning of year, number	516,968
Nonvested awards, beginning of year, weighted average grant date fair value	$ 50.57
Awards granted, number	332,770
Awards granted, weighted average grant date fair value	$ 46.27	$ 56.35	$ 47.72
Awards granted, performance factor adjustments, number	0
Awards granted, performance factor adjustments, weighted average grant date fair value	$ 0
Awards forfeited, number	(8,528)
Awards forfeited, weighted average grant date fair value	$ 50.27
Awards vested, number	(272,802)
Awards vested, weighted average grant date fair value	$ 48.12
Nonvested awards, end of year, number	568,408	516,968
Nonvested awards, end of year, weighted average grant date fair value	$ 49.24	$ 50.57
Performance Shares Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested awards, beginning of year, number	820,177
Nonvested awards, beginning of year, weighted average grant date fair value	$ 48.40
Awards granted, number	301,776
Awards granted, weighted average grant date fair value	$ 46.16	$ 58.35	$ 48.06
Awards granted, performance factor adjustments, number	20,984
Awards granted, performance factor adjustments, weighted average grant date fair value	$ 41.26
Awards forfeited, number	(14,459)
Awards forfeited, weighted average grant date fair value	$ 50.50
Awards vested, number	(321,260)
Awards vested, weighted average grant date fair value	$ 41.26
Nonvested awards, end of year, number	807,218	820,177
Nonvested awards, end of year, weighted average grant date fair value	$ 50.18	$ 48.40

Equity (Statutory Net Income_Lo

Equity (Statutory Net Income/Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Brighthouse Life Insurance Company
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Net Income Amount	$ (787)	$ (3,131)	$ 1,373
New England Life Insurance Company [Member]
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Net Income Amount	$ 65	$ 41	$ 83

Equity (Statutory Capital and S

Equity (Statutory Capital and Surplus) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Brighthouse Life Insurance Company
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	$ 3,673	$ 4,623
New England Life Insurance Company [Member]
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	$ 206	$ 141

Equity (Dividend Restrictions)

Equity (Dividend Restrictions) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2025
Brighthouse Life Insurance Company
Statutory Accounting Practices [Line Items]
Payments of Dividends	$ 0	$ 266	$ 0
Brighthouse Life Insurance Company | Scenario, Forecast
Statutory Accounting Practices [Line Items]
Permitted w/o Approval				$ 0
New England Life Insurance Company [Member]
Statutory Accounting Practices [Line Items]
Payments of Dividends	$ 0	$ 84	$ 38
New England Life Insurance Company [Member] | Scenario, Forecast
Statutory Accounting Practices [Line Items]
Permitted w/o Approval				$ 67

Equity (Components of Accumulat

Equity (Components of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	$ (5,246)	$ (6,106)	$ 47
OCI before reclassifications	(217)	866	(8,007)
Deferred income tax benefit (expense) (3)	45	(182)	1,682
AOCI before reclassifications, net of income tax	(5,418)	(5,422)	(6,278)
Amounts reclassified from AOCI	177	222	218
Deferred income tax benefit (expense) (3)	(37)	(46)	(46)
Amounts reclassified from AOCI, net of income tax	140	176	172
Balance, end of period	(5,278)	(5,246)	(6,106)
Unrealized Investment Gains (Losses), Net of Related Offsets (1)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	(4,317)	(6,194)	5,285
OCI before reclassifications	(1,226)	2,149	(14,741)
Deferred income tax benefit (expense) (3)	257	(451)	3,074
AOCI before reclassifications, net of income tax	(5,286)	(4,496)	(6,382)
Amounts reclassified from AOCI	189	226	238
Deferred income tax benefit (expense) (3)	(40)	(47)	(50)
Amounts reclassified from AOCI, net of income tax	149	179	188
Balance, end of period	(5,137)	(4,317)	(6,194)
Unrealized Gains (Losses) on Derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	277	504	239
OCI before reclassifications	136	(276)	331
Deferred income tax benefit (expense) (3)	(28)	58	(48)
AOCI before reclassifications, net of income tax	385	286	522
Amounts reclassified from AOCI	(18)	(11)	(22)
Deferred income tax benefit (expense) (3)	4	2	4
Amounts reclassified from AOCI, net of income tax	(14)	(9)	(18)
Balance, end of period	371	277	504
Changes in Nonperformance Risk on Market Risk Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	(1,881)	(1,378)	(3,230)
OCI before reclassifications	352	(636)	2,344
Deferred income tax benefit (expense) (3)	(74)	133	(492)
AOCI before reclassifications, net of income tax	(1,603)	(1,881)	(1,378)
Amounts reclassified from AOCI	0	0	0
Deferred income tax benefit (expense) (3)	0	0	0
Amounts reclassified from AOCI, net of income tax	0	0	0
Balance, end of period	(1,603)	(1,881)	(1,378)
Changes in Discount Rates on the Liability for Future Policy Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	720	1,020	(2,199)
OCI before reclassifications	543	(380)	4,075
Deferred income tax benefit (expense) (3)	(114)	80	(856)
AOCI before reclassifications, net of income tax	1,149	720	1,020
Amounts reclassified from AOCI	0	0	0
Deferred income tax benefit (expense) (3)	0	0	0
Amounts reclassified from AOCI, net of income tax	0	0	0
Balance, end of period	1,149	720	1,020
Other (2)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	(45)	(58)	(48)
OCI before reclassifications	(22)	9	(16)
Deferred income tax benefit (expense) (3)	4	(2)	4
AOCI before reclassifications, net of income tax	(63)	(51)	(60)
Amounts reclassified from AOCI	6	7	2
Deferred income tax benefit (expense) (3)	(1)	(1)	0
Amounts reclassified from AOCI, net of income tax	5	6	2
Balance, end of period	$ (58)	$ (45)	$ (58)

Equity (Reclassifications Out o

Equity (Reclassifications Out of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net investment gains (losses)	$ (295)	$ (246)	$ (248)
Net derivative gains (losses)	(3,668)	(3,907)	(592)
Net investment income	5,222	4,664	4,138
Pre-tax adjusted earnings (loss)	422	(1,474)	4,732
Income tax (expense) benefit	(29)	367	(848)
Net income (loss)	286	(1,214)	3,775
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income (loss)	(140)	(176)	(172)
Reclassification out of Accumulated Other Comprehensive Income | Net unrealized investment gains (losses):
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net investment gains (losses)	(174)	(198)	(186)
Net derivative gains (losses)	(15)	(28)	(52)
Pre-tax adjusted earnings (loss)	(189)	(226)	(238)
Income tax (expense) benefit	40	47	50
Net income (loss)	(149)	(179)	(188)
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Gains (Losses) on Derivatives
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Pre-tax adjusted earnings (loss)	18	11	22
Income tax (expense) benefit	(4)	(2)	(4)
Net income (loss)	14	9	18
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Gains (Losses) on Derivatives | Interest rate swaps
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net derivative gains (losses)	2	1	5
Net investment income	3	3	4
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Gains (Losses) on Derivatives | Foreign currency swaps
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net derivative gains (losses)	13	7	13
Reclassification out of Accumulated Other Comprehensive Income | Defined benefit plans adjustment:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Pre-tax adjusted earnings (loss)	(6)	(7)	(2)
Income tax (expense) benefit	1	1	0
Amortization of net actuarial gains (losses)	(6)	(7)	(2)
Amortization of defined benefit plans, net of income tax	$ (5)	$ (6)	$ (2)

Equity (Preferred Stock & Commo

Equity (Preferred Stock & Common Stock - Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended				12 Months Ended
	Nov. 30, 2021	Nov. 30, 2020	May 31, 2020	Mar. 31, 2019	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Nov. 16, 2023	Dec. 31, 2021	Mar. 25, 2019
Class of Stock [Line Items]
Preferred stock, shares issued					70,100	70,100
Preferred stock, stated amount per share					$ 25,000
Stock repurchase program, aggregate amount repurchased					$ 250	$ 250	$ 488
Authorization Under 10b5-1 Plan
Class of Stock [Line Items]
Stock repurchase program, authorized repurchase amount								$ 750	$ 1,200
Stock repurchase program, shares repurchased					5,294,200	5,195,832	10,000,026
Stock repurchase program, aggregate amount repurchased					$ 250	$ 250	$ 488
Stock repurchase program, remaining authorized repurchase amount					$ 543
4.625% Non-Cumulative Preferred Stock, Series D
Class of Stock [Line Items]
Preferred stock, annual dividend rate	4.625%				4.625%	4.625%
Preferred stock, shares issued	14,000				14,000	14,000
Preferred stock, stated amount per share	$ 25,000
Preferred stock, proceeds from issuance, net of issuance costs	$ 339
Preferred stock, issuance costs	$ 11
5.375% Non-Cumulative Preferred Stock, Series C
Class of Stock [Line Items]
Preferred stock, annual dividend rate		5.375%			5.375%	5.375%
Preferred stock, shares issued		23,000			23,000	23,000
Preferred stock, stated amount per share		$ 25,000
Preferred stock, proceeds from issuance, net of issuance costs		$ 558
Preferred stock, issuance costs		$ 17
6.750% Non-Cumulative Preferred Stock, Series B
Class of Stock [Line Items]
Preferred stock, annual dividend rate			6.75%		6.75%	6.75%
Preferred stock, shares issued			16,100		16,100	16,100
Preferred stock, stated amount per share			$ 25,000
Preferred stock, proceeds from issuance, net of issuance costs			$ 390
Preferred stock, issuance costs			$ 13
6.600% Non-Cumulative Preferred Stock, Series A
Class of Stock [Line Items]
Preferred stock, annual dividend rate				6.60%	6.60%	6.60%
Preferred stock, shares issued					17,000	17,000				17,000
Preferred stock, stated amount per share										$ 25,000
Preferred stock, proceeds from issuance, net of issuance costs				$ 412
Preferred stock, issuance costs				$ 13

Equity (Share-Based Compensat_2

Equity (Share-Based Compensation - Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized shares available for issuance under share-based compensation plans, number	4,878,028
Options outstanding, number	187,371
Options exercisable, number	187,371
Options outstanding, weighted average exercise price	$ 53.47
Options exercisable, weighted average exercise price	$ 53.47
Options outstanding, intrinsic value, amount	$ 0
Options exercisable, intrinsic value, amount	$ 0
Options granted, number	0	0	0
Options exercised, number	0	0	0
Options forfeited, number	0
Options expired, number	0
ESPP purchase discount rate	15%
ESPP shares purchased by employees	76,572	77,598	74,734
ESPP purchase discount, weighted average fair value	$ 8.54	$ 9.04	$ 8.54
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation, amount	$ 11,000,000
Unrecognized share-based compensation, remaining recognition period	9 months 18 days
Awards granted, weighted average grant date fair value	$ 46.27	$ 56.35	$ 47.72
Awards vested, fair value, amount	$ 13,000,000	$ 15,000,000	$ 15,000,000
Performance Shares Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation, amount	$ 25,000,000
Unrecognized share-based compensation, remaining recognition period	1 year 2 months 12 days
Performance period	3 years
Performance factor, modifier	10%
Awards granted, weighted average grant date fair value	$ 46.16	$ 58.35	$ 48.06
Awards vested, fair value, amount	$ 13,000,000	$ 9,000,000	$ 7,000,000
PSUs, granted during 2022 and 2023 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance factor	150%
Performance Shares, Granted during 2024 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance factor	160%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration term	10 years
Vesting term	3 years

Equity (Statutory Equity and In

Equity (Statutory Equity and Income - Narrative) (Details)	12 Months Ended
	Dec. 31, 2024
Minimum
Statutory Accounting Practices [Line Items]
Description of Regulatory Capital Requirements under Insurance Regulations	390

Equity (Captive Equity and Inco

Equity (Captive Equity and Income - Narrative) (Details) - Brighthouse Reinsurance Company of Delaware - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	$ 11,500	$ 11,000
Statutory Accounting Practices, Statutory Net Income Amount	(447)	(300)	$ (208)
Statutory Accounting Practices, Prescribed Practice, Amount	$ 703	$ 661

Equity (Captive Dividend Restri

Equity (Captive Dividend Restriction - Narrative) (Details) - Brighthouse Reinsurance Company of Delaware - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statutory Accounting Practices [Line Items]
Payments of Dividends	$ 0	$ 0	$ 0
Preferred Stock
Statutory Accounting Practices [Line Items]
Payments of Dividends	$ 1	$ 1	$ 1

Other Revenues and Other Expe_3

Other Revenues and Other Expenses (Other Expenses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Income and Expenses [Abstract]
Compensation	$ 408	$ 418	$ 351
Contracted services and other labor costs	285	312	296
Transition services agreements	22	32	58
Establishment costs	0	0	66
Premium and other taxes, licenses and fees	60	61	54
Separate account fees	365	366	407
Volume related costs, excluding compensation, net of DAC capitalization	577	540	513
Interest expense on debt	152	153	153
Other	77	95	187
Total other expenses	$ 1,946	$ 1,977	$ 2,085

Other Revenues and Other Expe_4

Other Revenues and Other Expenses (Other Revenues - Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Distribution service
Revenue from Contract with Customer, Including Assessed Tax	$ 272	$ 266	$ 292

Employee Benefit Plans (Employe

Employee Benefit Plans (Employee Benefit Plans - Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, employer discretionary contribution amount	$ 20	$ 19	$ 18
Defined contribution plan, increase (decrease), cost	10	9	$ (2)
Assets for plan benefits, defined benefit plan	5	5
Other deferred compensation arrangements, liability, current and noncurrent	58	57
MetLife, Inc.
Defined Benefit Plan Disclosure [Line Items]
Accounts payable	151	155
Qualified Plan
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, employer discretionary contribution amount	0	0
Defined benefit plan, accumulated benefit obligation	122	129
Nonqualified Plan
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, accumulated benefit obligation	$ 75	$ 83

Income Tax (Provision for Incom

Income Tax (Provision for Income Tax) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal	$ (10)	$ 7	$ (65)
State and local	12	12	12
Subtotal	2	19	(53)
Deferred:
Federal	27	(386)	901
Current and Deferred:
Provision for income tax expense (benefit)	$ 29	$ (367)	$ 848

Income Tax (Rate Reconciliation

Income Tax (Rate Reconciliation) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income tax expense benefit continuing operations income tax reconciliation
Tax provision at statutory rate	$ 88	$ (310)	$ 994
Resolution of prior years	6	0	(76)
Dividends received deduction	(34)	(34)	(36)
Tax credits	(25)	(9)	(20)
Change in uncertain tax benefits	(18)	0	(15)
Return to provision	(12)	(5)	(6)
Adjustments to deferred tax	14	0	(2)
Change in valuation allowance	0	(18)	0
State tax, net of federal benefit	10	9	10
Other, net	0	0	(1)
Provision for income tax expense (benefit)	$ 29	$ (367)	$ 848
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	7%	25%	18%

Income Tax (Net Deferred Income

Income Tax (Net Deferred Income Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Deferred income tax assets:
Net unrealized investment losses	$ 1,267	$ 1,074
Net operating loss carryforwards	2,004	1,845
Investments, including derivatives	147	213
Tax credit carryforwards	190	190
Employee benefits	27	29
Intangibles	60	64
Other	4	0
Total deferred income tax assets	3,699	3,415
Less: Valuation allowance	1	1
Total net deferred income tax assets	3,698	3,414
Deferred income tax liabilities:
Policyholder liabilities and receivables	1,174	863
DAC	649	657
Other	0	1
Total deferred income tax liabilities	1,823	1,521
Net deferred income tax asset (liability)	$ 1,875	$ 1,893

Income Tax (Net Operating Loss

Income Tax (Net Operating Loss Carryforwards) (Details) $ in Millions	Dec. 31, 2024 USD ($)
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 9,541
Expiration Period Fourth Four Years By Deferred Tax Asset [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	1,943
Indefinite
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 7,598

Income Tax (Tax Credit Carryfor

Income Tax (Tax Credit Carryforwards) (Details) $ in Millions	Dec. 31, 2024 USD ($)
Foreign Tax Jurisdiction
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	$ 164
Foreign Tax Jurisdiction | 2027-2031
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	121
Foreign Tax Jurisdiction | 2032-2036
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	43
Foreign Tax Jurisdiction | 2037-2041
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	0
Foreign Tax Jurisdiction | 2042-2044
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	0
Foreign Tax Jurisdiction | Indefinite
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	0
General business tax credit carryforward
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	26
General business tax credit carryforward | 2027-2031
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	0
General business tax credit carryforward | 2032-2036
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	12
General business tax credit carryforward | 2037-2041
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	13
General business tax credit carryforward | 2042-2044
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	1
General business tax credit carryforward | Indefinite
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	$ 0

Income Tax (Reconciliation of U

Income Tax (Reconciliation of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits
Balance at January 1,	$ 19	$ 19	$ 35
Additions for tax positions of prior years	0	0	6
Reductions for tax positions of prior years	(6)	0	0
Additions for tax positions of current year	0	0	0
Reductions for tax positions of current year	0	0	0
Settlements with tax authorities	0	0	0
Lapses of statutes of limitations	(12)	0	(22)
Balance at December 31,	1	19	19
Unrecognized tax benefits that, if recognized would impact the effective rate	$ 1	$ 19	$ 19

Income Tax (Narrative) (Details

Income Tax (Narrative) (Details)	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) agreement
Income Tax Examination, Penalties Expense	$ 0	$ 0	$ 0
Number of tax sharing agreements | agreement			2
Percent of cash savings included in tax receivable agreement	86%
Taxes Payable	$ 328,000,000	328,000,000
Net cash paid (received) for income tax	(13,000,000)	(7,000,000)	$ (44,000,000)
Current income tax recoverable	19,000,000	27,000,000
MetLife, Inc.
Net cash paid (received) for income tax	0	0	$ 7,000,000
Current income tax recoverable	$ 16,000,000	$ 21,000,000

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders	$ 286	$ (1,214)	$ 3,775
Weighted average common shares outstanding - basic	61,199,247	66,013,645	72,970,249
Dilutive effect of share-based awards	401,135	0	610,919
Weighted average common shares outstanding - diluted	61,600,382	66,013,645	73,581,168
Earnings per common share - basic	$ 4.67	$ (18.39)	$ 51.73
Earnings per common share - diluted	$ 4.64	$ (18.39)	$ 51.30
Antidilutive stock options excluded from the computation of earnings per common share	187,371		187,371

Contingencies, Commitments an_2

Contingencies, Commitments and Guarantees (Contingencies, Commitments and Guarantees - Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Cumulative maximum indemnities and guarantees contractual limitation		$ 83
Liabilities for indemnities, guarantees and commitments		0	$ 1
Premium Receivable, Allowance for Credit Loss, Period Increase (Decrease)	$ 187
Universal Life Insurance
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Premium Receivable, Allowance for Credit Loss, Period Increase (Decrease)	167
Other Expense
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Premium Receivable, Allowance for Credit Loss, Period Increase (Decrease)	$ 20
Minimum | Non-litigation loss
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Loss contingency, range of possible loss, portion not accrued		0
Maximum
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Loss contingency, range of possible loss, portion not accrued		10
Maximum | Non-litigation loss
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Loss contingency, range of possible loss, portion not accrued		100
Mortgage Loan Commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair value disclosure, off-balance sheet risks, face amount, liability		271	377
Commitments to Fund Partnership Investments and Private Corporate Bond Investments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair value disclosure, off-balance sheet risks, face amount, liability		$ 1,700	$ 1,400

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions			12 Months Ended
	Feb. 18, 2025	Feb. 11, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Preferred stock, aggregate dividends declared			$ 102	$ 102	$ 104
Subsequent Event
Subsequent Event [Line Items]
Preferred stock, aggregate dividends declared	$ 26
Brighthouse Life Insurance Company capital contributions from BH Holdings		$ 100
6.600% Non-Cumulative Preferred Stock, Series A
Subsequent Event [Line Items]
Preferred stock, dividends declared per share			$ 1,650	$ 1,650	$ 1,650
Preferred stock, aggregate dividends declared			$ 28	$ 28	$ 28
6.600% Non-Cumulative Preferred Stock, Series A | Subsequent Event
Subsequent Event [Line Items]
Preferred stock, dividends declared per share	$ 412.50
6.750% Non-Cumulative Preferred Stock, Series B
Subsequent Event [Line Items]
Preferred stock, dividends declared per share			$ 1,687.52	$ 1,687.52	$ 1,687.52
Preferred stock, aggregate dividends declared			$ 28	$ 28	$ 28
6.750% Non-Cumulative Preferred Stock, Series B | Subsequent Event
Subsequent Event [Line Items]
Preferred stock, dividends declared per share	421.88
5.375% Non-Cumulative Preferred Stock, Series C
Subsequent Event [Line Items]
Preferred stock, dividends declared per share			$ 1,343.76	$ 1,343.76	$ 1,343.76
Preferred stock, aggregate dividends declared			$ 30	$ 30	$ 31
5.375% Non-Cumulative Preferred Stock, Series C | Subsequent Event
Subsequent Event [Line Items]
Preferred stock, dividends declared per share	335.94
4.625% Non-Cumulative Preferred Stock, Series D
Subsequent Event [Line Items]
Preferred stock, dividends declared per share			$ 1,156.24	$ 1,156.24	$ 1,262.23
Preferred stock, aggregate dividends declared			$ 16	$ 16	$ 17
4.625% Non-Cumulative Preferred Stock, Series D | Subsequent Event
Subsequent Event [Line Items]
Preferred stock, dividends declared per share	$ 289.06

Consolidated Summary of Inves_2

Consolidated 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]
Amortized Cost	$ 124,935
Amount at Which Shown on Balance Sheet	117,387
U.S. government and agency
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	7,408
Estimated Fair Value	6,747
Amount at Which Shown on Balance Sheet	6,747
State and political subdivision
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	3,731
Estimated Fair Value	3,441
Amount at Which Shown on Balance Sheet	3,441
Public utilities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	4,085
Estimated Fair Value	3,662
Amount at Which Shown on Balance Sheet	3,662
Foreign government
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	1,036
Estimated Fair Value	959
Amount at Which Shown on Balance Sheet	959
All other corporate bonds
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	49,713
Estimated Fair Value	44,925
Amount at Which Shown on Balance Sheet	44,925
Total bonds
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	65,973
Estimated Fair Value	59,734
Amount at Which Shown on Balance Sheet	59,734
Mortgage-backed and asset-backed securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	21,250
Estimated Fair Value	19,955
Amount at Which Shown on Balance Sheet	19,955
Redeemable preferred stock
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	380
Estimated Fair Value	366
Amount at Which Shown on Balance Sheet	366
Total fixed maturity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	87,603
Estimated Fair Value	80,055
Amount at Which Shown on Balance Sheet	80,055
Non-redeemable preferred stock
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	18
Estimated Fair Value	11
Amount at Which Shown on Balance Sheet	11
Industrial, miscellaneous and all other
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	59
Estimated Fair Value	65
Amount at Which Shown on Balance Sheet	65
Banks, Trust and Insurance, Equities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	0
Estimated Fair Value	0
Amount at Which Shown on Balance Sheet	0
Public utilities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	0
Estimated Fair Value	1
Amount at Which Shown on Balance Sheet	1
Total equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	77
Estimated Fair Value	77
Amount at Which Shown on Balance Sheet	77
Mortgage loans
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	23,286
Amount at Which Shown on Balance Sheet	23,286
Policy loans
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	2,024
Amount at Which Shown on Balance Sheet	2,024
Limited partnerships and LLCs
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	4,827
Amount at Which Shown on Balance Sheet	4,827
Short-term investments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	1,868
Amount at Which Shown on Balance Sheet	1,868
Other invested assets
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost	5,250
Amount at Which Shown on Balance Sheet	$ 5,250

Condensed Financial Informati_2

Condensed Financial Information (Parent Company) (Condensed Balance Sheets) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments:
Fixed maturity securities, estimated fair value	$ 80,055	$ 80,991
Short-term investments, principally at estimated fair value	1,868	1,169
Other invested assets, principally at estimated fair value	5,250	4,409
Total investments	117,387	115,456
Cash and cash equivalents	5,045	3,851	$ 4,115	$ 4,474
Accrued Investment Income Receivable	1,277	1,183
Premiums and Other Receivables, Net	21,126	19,761
Current income tax recoverable	19	27
Deferred income tax asset	1,875	1,893
Other Assets	370	370
Total assets	238,537	236,340
Liabilities
Other liabilities	9,160	8,439
Total liabilities	233,513	231,332
Stockholders' Equity Attributable to Parent [Abstract]
Preferred stock, par value $0.01 per share; $1,753 aggregate liquidation preference	0	0
Common stock, par value $0.01 per share; 1,000,000,000 shares authorized; 123,480,326 and 122,818,568 shares issued, respectively; 58,629,049 and 63,503,355 shares outstanding, respectively	1	1
Additional paid-in capital	13,927	14,004
Retained earnings (deficit)	(1,119)	(1,507)
Treasury stock, at cost; 64,851,277 and 59,315,213 shares, respectively	(2,572)	(2,309)
Accumulated other comprehensive income (loss)	(5,278)	(5,246)	(6,106)	47
Total Brighthouse Financial, Inc.’s stockholders’ equity	4,959	4,943
Total liabilities and equity	238,537	236,340
Parent Company
Investments:
Fixed maturity securities, estimated fair value	190	106
Short-term investments, principally at estimated fair value	622	580
Other invested assets, principally at estimated fair value	5	0
Investments in subsidiary	7,799	7,710
Total investments	8,616	8,396
Cash and cash equivalents	245	512	$ 224	$ 372
Premiums and Other Receivables, Net	163	175
Current income tax recoverable	42	78
Other Assets	4	5
Total assets	9,070	9,166
Liabilities
Long-term and short-term debt	3,716	3,859
Deferred income tax liability	31	17
Other liabilities	364	347
Total liabilities	4,111	4,223
Stockholders' Equity Attributable to Parent [Abstract]
Preferred stock, par value $0.01 per share; $1,753 aggregate liquidation preference	0	0
Common stock, par value $0.01 per share; 1,000,000,000 shares authorized; 123,480,326 and 122,818,568 shares issued, respectively; 58,629,049 and 63,503,355 shares outstanding, respectively	1	1
Additional paid-in capital	13,927	14,004
Retained earnings (deficit)	(1,119)	(1,507)
Treasury stock, at cost; 64,851,277 and 59,315,213 shares, respectively	(2,572)	(2,309)
Accumulated other comprehensive income (loss)	(5,278)	(5,246)
Total Brighthouse Financial, Inc.’s stockholders’ equity	4,959	4,943
Total liabilities and equity	$ 9,070	$ 9,166

Condensed Financial Informati_3

Condensed Financial Information (Parent Company) (Condensed Balance Sheets Insets) (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Condensed Balance Sheet Statements, Captions [Line Items]
Amortized cost of fixed maturity securities available-for-sale	$ 87,603	$ 87,131
Fixed maturity securities, allowance for credit losses	$ 81	$ 21	$ 7
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, aggregate liquidation preference	$ 1,753	$ 1,753
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	123,480,326	122,818,568
Common stock, shares outstanding	58,629,049	63,503,355	68,278,068	77,870,072
Treasury Stock, Common, Shares	64,851,277	59,315,213
Parent Company
Condensed Balance Sheet Statements, Captions [Line Items]
Amortized cost of fixed maturity securities available-for-sale	$ 190	$ 106
Fixed maturity securities, allowance for credit losses	$ 0	$ 0

Condensed Financial Informati_4

Condensed Financial Information (Parent Company) (Condensed Statements of Operations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Condensed Income Statements, Captions [Line Items]
Net investment income	$ 5,222	$ 4,664	$ 4,138
Other revenues	579	483	478
Net investment gains (losses)	(295)	(246)	(248)
Net derivative gains (losses)	(3,668)	(3,907)	(592)
Total revenues	4,724	4,117	6,873
Expenses
Other expenses	1,946	1,977	2,085
Total expenses	4,302	5,591	2,141
Income (loss) before provision for income tax	422	(1,474)	4,732
Provision for income tax expense (benefit)	29	(367)	848
Net income (loss) attributable to Brighthouse Financial, Inc.	388	(1,112)	3,879
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders	286	(1,214)	3,775
Comprehensive income (loss)	356	(252)	(2,274)
Parent Company
Condensed Income Statements, Captions [Line Items]
Net investment income	54	38	14
Other revenues	9	0	(3)
Net investment gains (losses)	0	0	(2)
Net derivative gains (losses)	20	10	(7)
Total revenues	83	48	2
Expenses
Other expenses	207	192	168
Total expenses	207	192	168
Income (loss) before provision for income tax	(124)	(144)	(166)
Provision for income tax expense (benefit)	(26)	(30)	(35)
Income (loss) before equity in earnings (losses) of subsidiaries	(98)	(114)	(131)
Income (Loss) from Subsidiaries, Net of Tax	486	(998)	4,010
Net income (loss) attributable to Brighthouse Financial, Inc.	388	(1,112)	3,879
Dividends, Preferred Stock	102	102	104
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders	286	(1,214)	3,775
Comprehensive income (loss)	$ 356	$ (252)	$ (2,274)

Condensed Financial Informati_5

Condensed Financial Information (Parent Company) (Condensed Statements of Cash Flows) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities
Net income (loss)	$ 388	$ (1,112)	$ 3,879
Other, net	30	39	32
Net cash provided by (used in) operating activities	(290)	(137)	(1,228)
Cash flows from investing activities
Sales, maturities and repayments of fixed maturity securities	11,721	6,028	10,728
Purchases of fixed maturity securities	(11,998)	(8,866)	(15,799)
Cash received in connection with freestanding derivatives	12,468	5,079	4,480
Cash paid in connection with freestanding derivatives	(11,865)	(5,428)	(4,275)
Net change in short-term investments	(675)	(38)	772
Net cash provided by (used in) investing activities	(2,194)	(3,196)	(8,276)
Cash flows from financing activities
Net change in payables for collateral under securities loaned and other transactions	221	(890)	(1,709)
Dividends on preferred stock	(102)	(102)	(104)
Treasury stock acquired in connection with share repurchases	(250)	(250)	(488)
Financing element on certain derivative instruments and other derivative related transactions, net	(204)	90	(185)
Other, net	(17)	(19)	(16)
Net cash provided by (used in) financing activities	3,678	3,069	9,145
Change in cash and cash equivalents	1,194	(264)	(359)
Cash, cash equivalents and restricted cash, beginning of year	3,851	4,115	4,474
Cash, cash equivalents and restricted cash, end of year	5,045	3,851	4,115
Supplemental disclosures of cash flow information
Net cash paid (received) for interest	151	151	152
Net cash paid (received) for income tax	13	7	44
Parent Company
Cash flows from operating activities
Net income (loss)	388	(1,112)	3,879
Equity in (earnings) losses of subsidiaries	(486)	998	(4,010)
Distributions from subsidiary	0	350	0
Other, net	50	(24)	2
Net cash provided by (used in) operating activities	(48)	212	(129)
Cash flows from investing activities
Sales, maturities and repayments of fixed maturity securities	104	0	0
Purchases of fixed maturity securities	(180)	(106)	0
Cash received in connection with freestanding derivatives	15	30	41
Cash paid in connection with freestanding derivatives	(9)	(6)	(5)
Net change in short-term investments	(30)	211	408
Net cash provided by (used in) investing activities	(100)	129	444
Cash flows from financing activities
Net change in payables for collateral under securities loaned and other transactions	6	0	0
Long-term and short-term debt issued	570	753	961
Long-term and short-term debt repaid	(339)	(439)	(811)
Dividends on preferred stock	(102)	(102)	(104)
Treasury stock acquired in connection with share repurchases	(250)	(250)	(488)
Financing element on certain derivative instruments and other derivative related transactions, net	8	(1)	(7)
Other, net	(12)	(14)	(14)
Net cash provided by (used in) financing activities	(119)	(53)	(463)
Change in cash and cash equivalents	(267)	288	(148)
Cash, cash equivalents and restricted cash, beginning of year	512	224	372
Cash, cash equivalents and restricted cash, end of year	245	512	224
Supplemental disclosures of cash flow information
Net cash paid (received) for interest	191	176	155
Net cash paid (received) for income tax	$ (79)	$ (6)	$ (24)

Condensed Financial Informati_6

Condensed Financial Information (Parent Company) (Investment in Subsidiary Footnote) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Brighthouse Life Insurance Company
Condensed Financial Statements, Captions [Line Items]
Payments of Dividends	$ 0	$ 266	$ 0
Brighthouse Services, LLC
Condensed Financial Statements, Captions [Line Items]
Short-Term Intercompany Loans	400	50	250
BH Holdings
Condensed Financial Statements, Captions [Line Items]
Short-Term Intercompany Loans		50	100
Parent Company
Condensed Financial Statements, Captions [Line Items]
Non-Cash Distributions, Receivable	376	100	350
Distributions from BH Holdings	$ 0	$ 350	$ 0

Condensed Financial Informati_7

Condensed Financial Information (Parent Company) (Long-term and Short-term Debt Footnote) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Condensed Financial Statements, Captions [Line Items]
Debt instrument, carrying value	$ 3,155	$ 3,156
Debt instrument, unamortized debt issuance costs and debt discount	27	30
Long-term debt maturities, year one	3
Long-term debt maturities, year two	3
Long-term debt maturities, year three	761
Long-term debt maturities, year four	3
Long-term debt maturities, year five	4
Long-term debt maturities, after year five	2,400
Interest expense on long-term debt	$ 152	$ 153	$ 153
Senior Notes Due 2027
Condensed Financial Statements, Captions [Line Items]
Debt instrument, stated interest rate	3.70%	3.70%
Debt instrument, carrying value	$ 756	$ 756
Senior Notes Due 2030
Condensed Financial Statements, Captions [Line Items]
Debt instrument, stated interest rate	5.625%	5.625%
Debt instrument, carrying value	$ 615	$ 614
Senior Notes Due 2047
Condensed Financial Statements, Captions [Line Items]
Debt instrument, stated interest rate	4.70%	4.70%
Debt instrument, carrying value	$ 1,002	$ 1,001
Senior Notes Due 2051
Condensed Financial Statements, Captions [Line Items]
Debt instrument, stated interest rate	3.85%	3.85%
Debt instrument, carrying value	$ 397	$ 397
Junior Subordinated Debentures Due 2058
Condensed Financial Statements, Captions [Line Items]
Debt instrument, stated interest rate	6.25%	6.25%
Debt instrument, carrying value	$ 364	$ 364
Parent Company
Condensed Financial Statements, Captions [Line Items]
Debt instrument, carrying value	3,134	3,132
Short-term debt outstanding	582	727
Long-term and short-term debt outstanding	3,716	3,859
Debt instrument, unamortized debt issuance costs and debt discount	27	30
Long-term debt maturities, year one	582
Long-term debt maturities, year two	0
Long-term debt maturities, year three	757
Long-term debt maturities, year four	0
Long-term debt maturities, year five	0
Long-term debt maturities, after year five	2,400
Interest expense on long-term debt	$ 192	178	155
Parent Company | Short-term Intercompany Loans
Condensed Financial Statements, Captions [Line Items]
Loan term	364 days
Short-term intercompany debt issued	$ 570	753	1,000
Short-term intercompany debt repaid	$ 339	$ 439	$ 811
Weighted average interest rate	3.73%	4.73%	3.73%
Parent Company | Intercompany Liquidity Facilities
Condensed Financial Statements, Captions [Line Items]
Loan term	364 days
Short-term intercompany debt issued	$ 0	$ 0	$ 0
Short-term intercompany debt repaid	$ 0	$ 0	$ 0
Parent Company | Senior Notes Due 2027
Condensed Financial Statements, Captions [Line Items]
Debt instrument, stated interest rate	3.70%	3.70%
Debt instrument, carrying value	$ 756	$ 756
Parent Company | Senior Notes Due 2030
Condensed Financial Statements, Captions [Line Items]
Debt instrument, stated interest rate	5.625%	5.625%
Debt instrument, carrying value	$ 615	$ 614
Parent Company | Senior Notes Due 2047
Condensed Financial Statements, Captions [Line Items]
Debt instrument, stated interest rate	4.70%	4.70%
Debt instrument, carrying value	$ 1,002	$ 1,001
Parent Company | Senior Notes Due 2051
Condensed Financial Statements, Captions [Line Items]
Debt instrument, stated interest rate	3.85%	3.85%
Debt instrument, carrying value	$ 397	$ 397
Parent Company | Junior Subordinated Debentures Due 2058
Condensed Financial Statements, Captions [Line Items]
Debt instrument, stated interest rate	6.25%	6.25%
Debt instrument, carrying value	$ 364	$ 364

Consolidated Supplementary In_2

Consolidated Supplementary Insurance Information (Balance Sheet Items) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
DAC and VOBA	$ 4,710	$ 4,872
Future Policy Benefits and Other Policy-Related Balances	35,353	36,405
Policyholder account balances	87,989	81,068
Unearned Premiums	14	16
Unearned Revenue	1,132	1,035
Annuities
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
DAC and VOBA	4,027	4,111
Future Policy Benefits and Other Policy-Related Balances	4,040	4,024
Policyholder account balances	67,777	60,929
Unearned Premiums	0	0
Unearned Revenue	60	67
Life
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
DAC and VOBA	680	758
Future Policy Benefits and Other Policy-Related Balances	6,648	6,549
Policyholder account balances	2,859	2,856
Unearned Premiums	9	11
Unearned Revenue	357	356
Run-off
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
DAC and VOBA	3	3
Future Policy Benefits and Other Policy-Related Balances	18,672	19,421
Policyholder account balances	6,376	6,694
Unearned Premiums	0	0
Unearned Revenue	715	612
Corporate & Other
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
DAC and VOBA	0	0
Future Policy Benefits and Other Policy-Related Balances	5,993	6,411
Policyholder account balances	10,977	10,589
Unearned Premiums	5	5
Unearned Revenue	$ 0	$ 0

Consolidated Supplementary In_3

Consolidated Supplementary Insurance Information (Income Statement Items) (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 [Line Items]
Premiums and Universal Life and Investment-Type Product Policy Fees	$ 2,886	$ 3,123	$ 3,097
Net Investment Income (1)	5,222	4,664	4,138
Policyholder Benefits and Claims and Interest Credited to Policyholder Account Balances	4,430	4,501	3,531
Amortization of DAC and VOBA	599	620	629
Other Expenses	1,946	1,977	2,085
Annuities
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Premiums and Universal Life and Investment-Type Product Policy Fees	1,900	1,875	1,831
Net Investment Income (1)	2,850	2,546	2,240
Policyholder Benefits and Claims and Interest Credited to Policyholder Account Balances	1,830	1,534	1,277
Amortization of DAC and VOBA	505	516	515
Other Expenses	1,399	1,391	1,417
Life
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Premiums and Universal Life and Investment-Type Product Policy Fees	654	775	756
Net Investment Income (1)	464	431	438
Policyholder Benefits and Claims and Interest Credited to Policyholder Account Balances	815	991	875
Amortization of DAC and VOBA	94	104	114
Other Expenses	188	203	130
Run-off
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Premiums and Universal Life and Investment-Type Product Policy Fees	332	473	510
Net Investment Income (1)	1,230	1,115	1,146
Policyholder Benefits and Claims and Interest Credited to Policyholder Account Balances	1,335	1,588	1,216
Amortization of DAC and VOBA	0	0	0
Other Expenses	166	167	293
Corporate & Other
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Premiums and Universal Life and Investment-Type Product Policy Fees	0	0	0
Net Investment Income (1)	678	572	314
Policyholder Benefits and Claims and Interest Credited to Policyholder Account Balances	450	388	163
Amortization of DAC and VOBA	0	0	0
Other Expenses	$ 193	$ 216	$ 245

Consolidated Reinsurance (Detai

Consolidated Reinsurance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Gross Amount	$ 470,679	$ 489,313	$ 502,679
Ceded	125,696	134,682	144,647
Assumed	5,641	6,127	6,578
Net Amount	$ 350,624	$ 360,758	$ 364,610
% Amount Assumed to Net	1.60%	1.70%	1.80%
Consolidated Reinsurance
Gross Amount	$ 1,395	$ 1,499	$ 1,359
Ceded	637	685	703
Assumed	12	14	6
Net Amount	$ 770	$ 828	$ 662
% Amount Assumed to Net	1.60%	1.70%	0.90%
Life
Consolidated Reinsurance
Gross Amount	$ 1,206	$ 1,294	$ 1,157
Ceded	450	489	505
Assumed	12	14	6
Net Amount	$ 768	$ 819	$ 658
% Amount Assumed to Net	1.60%	1.70%	0.90%
Accident & health insurance
Consolidated Reinsurance
Gross Amount	$ 189	$ 205	$ 202
Ceded	187	196	198
Assumed	0	0	0
Net Amount	$ 2	$ 9	$ 4
% Amount Assumed to Net	0%	0%	0%