Jackson Financial (JXN) 10-K 1 Mar 23 2022 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2022	Feb. 22, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-40274
Entity Registrant Name	Jackson Financial Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-0486152
Entity Address, Address Line One	1 Corporate Way
Entity Address, City or Town	Lansing
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48951
City Area Code	517
Local Phone Number	381-5500
Title of 12(b) Security	Common Stock, Par Value $0.01 Per Share
Trading Symbol	JXN
Security Exchange Name	NYSE
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
Entity Shell Company	false
Entity Public Float			$ 1.9
Entity Common Stock, Shares Outstanding		82,281,061
Documents Incorporated by Reference	Portions of the registrant's definitive proxy statement to be filed in connection with the annual meeting of shareholders to be held on May 19, 2023, ar e incorporated by reference into Part III of this Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (Form 10-K) where indicated. The registrant's definitive 2023 proxy statement is expected to be filed on or about April 4, 2023.
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Entity Central Index Key	0001822993

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Chicago, IL
Auditor Firm ID	185

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Investments:
Debt Securities, available-for-sale, net of allowance for credit losses of $23 and $9 at December 31, 2022 and 2021, respectively (amortized cost: 2022 $48,798; 2021 $49,378)	$ 42,489	$ 51,547
Debt Securities, at fair value under fair value option	2,173	1,711
Debt Securities, trading, at fair value	100	117
Equity securities, at fair value	393	279
Mortgage loans, net of allowance for credit losses of $95 and $94 at December 31, 2022 and 2021, respectively	10,967	11,482
Mortgage loans, at fair value under fair value option	582	0
Policy loans (including $3,419 and $3,467 at fair value under the fair value option at December 31, 2022 and 2021, respectively)	4,377	4,475
Freestanding derivative instruments	1,270	1,417
Other invested assets	3,595	3,199
Total investments	65,946	74,227
Cash and cash equivalents	4,298	2,623
Accrued investment income	514	503
Deferred acquisition costs	13,422	14,249
Reinsurance recoverable, net of allowance for credit losses of $15 and $12 at December 31, 2022 and 2021, respectively	29,641	33,126
Deferred income taxes, net	385	954
Other assets	946	928
Separate account assets	195,906	248,949
Total assets	311,058	375,559
Liabilities
Reserves for future policy benefits and claims payable	14,273	18,667
Other contract holder funds	58,195	58,726
Funds withheld payable under reinsurance treaties	22,957	29,007
Long-term debt	2,635	2,649
Repurchase agreements and securities lending payable	1,048	1,589
Collateral payable for derivative instruments	689	913
Freestanding derivative instruments	2,065	41
Notes issued by consolidated variable interest entities, at fair value under fair value option (See Note 4)	1,732	1,404
Other liabilities	2,403	2,540
Separate account liabilities	195,906	248,949
Total liabilities	301,903	364,485
Commitments, Contingencies, and Guarantees (See Note 14)
Equity
Common stock, (i) at December 31, 2022, common stock (formerly known as the Class A Common Stock at December 31, 2021) 1,000,000,000 shares authorized, $0.01 par value per share and 82,690,098 shares issued and outstanding (ii) at December 31, 2021, Class A Common Stock 900,000,000 shares authorized, $0.01 par value per share and 88,046,833 shares issued and outstanding and Class B Common Stock 100,000,000 shares authorized, $0.01 par value per share and 638,861 shares issued and outstanding (See Note 22)	1	1
Additional paid-in capital	6,063	6,051
Treasury stock, at cost; 11,784,813 and 5,778,649 shares at December 31, 2022 and 2021, respectively	(443)	(211)
Accumulated other comprehensive income (loss), net of tax expense (benefit) of $(650) in 2022 and $194 in 2021	(5,481)	1,744
Retained earnings	8,283	2,809
Total shareholders' equity	8,423	10,394
Noncontrolling interests	732	680
Total equity	9,155	11,074
Total liabilities and equity	$ 311,058	$ 375,559

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Debt securities, available for sale, allowance for credit losses	$ 23	$ 9
Debt securities, available for sale, amortized cost	48,798	49,378
Mortgage loans, allowance for credit loss	95	94
Policy loans, fair value under fair value option	3,419	3,467
Reinsurance recoverable, allowance for credit losses	15	12
Funds withheld payable under reinsurance treaties, fair value under fair value option	$ 3,582	$ 3,639
Common stock, par value (in usd per share)	$ 0.01
Common stock, outstanding (in shares)	82,690,098	88,685,694
Treasury stock (in shares)	11,784,813	5,778,649
Accumulated other comprehensive income, tax expense (benefit)	$ (650)	$ 194
Class A Common Stock
Common stock, authorized (in shares)	1,000,000,000	900,000,000
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, issued (in shares)	82,690,098	88,046,833
Common stock, outstanding (in shares)	82,690,098	88,046,833
Class B Common Stock
Common stock, authorized (in shares)		100,000,000
Common stock, par value (in usd per share)		$ 0.01
Common stock, issued (in shares)		638,861
Common stock, outstanding (in shares)		638,861

Consolidated Income Statements

Consolidated Income Statements - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Fee income									$ 7,722	$ 8,059	$ 6,928
Premiums									132	148	187
Net investment income									2,761	3,424	2,818
Net gains (losses) on derivatives and investments									3,851	(2,478)	(6,451)
Other income									85	94	64
Total revenues	$ (381)	$ 4,022	$ 6,546	$ 4,364	$ 1,725	$ 1,575	$ 341	$ 5,606	14,551	9,247	3,546
Benefits and Expenses
Death, other policy benefits and change in policy reserves, net of deferrals									2,290	970	1,362
Interest credited on other contract holder funds, net of deferrals and amortization									862	834	1,301
Interest expense									113	37	88
Operating costs and other expenses, net of deferrals									2,432	2,839	1,299
Cost of reinsurance									0	0	2,520
Amortization of deferred acquisition costs									1,743	520	(533)
Total benefits and expenses	572	1,995	2,895	1,978	977	1,323	879	2,020	7,440	5,200	6,037
Pretax income (loss)	(953)	2,027	3,651	2,386	748	252	(538)	3,586	7,111	4,047	(2,491)
Income tax expense (benefit)	(235)	559	717	330	87	(16)	(54)	586	1,371	602	(854)
Net income (loss)	(718)	1,468	2,934	2,056	661	268	(484)	3,000	5,740	3,445	(1,637)
Less: Net income (loss) attributable to noncontrolling interests	(8)	(11)	31	31	76	62	56	68	43	262	(3)
Net income (loss) attributable to Jackson Financial Inc.	$ (710)	$ 1,479	$ 2,903	$ 2,025	$ 585	$ 206	$ (540)	$ 2,932	$ 5,697	$ 3,183	$ (1,634)
Earnings per share
Basic (in usd per share)	$ (8.48)	$ 17.38	$ 33.77	$ 23.45	$ 6.32	$ 2.18	$ (5.72)	$ 31.03	$ 66.62	$ 33.86	$ (24.14)
Diluted (in usd per share)	$ (8.48)	$ 16.83	$ 32.56	$ 22.51	$ 6.19	$ 2.18	$ (5.72)	$ 31.03	$ 64.23	$ 33.69	$ (24.14)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 5,740	$ 3,445	$ (1,637)
Other comprehensive income (loss), net of tax:
Change in unrealized appreciation (depreciation) on securities with no credit impairment net of tax expense (benefit) of: $(843), $(573), and $414 for the years ended December 31, 2022, 2021 and 2020, respectively	(7,223)	(2,080)	1,419
Change in unrealized appreciation (depreciation ) on securities with credit impairment, net of tax expense (benefit) of: $(1), $1, and $1 for the years ended December 31, 2022, 2021 and 2020, respectively	(2)	3	4
Total other comprehensive income (loss)	(7,225)	(2,077)	1,423
Comprehensive income (loss)	(1,485)	1,368	(214)
Less: Comprehensive income (loss) attributable to noncontrolling interests	43	262	(3)
Comprehensive income (loss) attributable to Jackson Financial Inc.	$ (1,528)	$ 1,106	$ (211)

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Change in net unrealized gains (losses) on securities not impaired, tax expense (benefit)	$ (843)	$ (573)	$ 414
Change in unrealized gains (losses) on securities for which an allowance for credit losses has been recorded, tax expense (benefit)	$ (1)	$ 1	$ 1

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Cumulative Effect of Change in Accounting Principle	Total Stockholders' Equity	Total Stockholders' Equity Cumulative Effect of Change in Accounting Principle	Common Stock	Additional Paid-In Capital	Treasury Stock at Cost	Shares Held In Trust	Equity Compensation Reserve	Accumulated Other Comprehensive Income	Retained Earnings	Retained Earnings Cumulative Effect of Change in Accounting Principle	Non-Controlling Interests
Balance at Dec. 31, 2019	$ 7,322	$ (56)	$ 6,838	$ (56)	$ 1	$ 3,077	$ 0	$ (4)	$ 0	$ 2,398	$ 1,366	$ (56)	$ 484
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(1,637)		(1,634)								(1,634)		(3)
Change in unrealized investment gains and losses, net of tax	1,423		1,423							1,423
Change in equity of noncontrolling interests	13												13
Common stock issuance - debt restructure	2,350		2,350			2,350
Common stock issuance - Athene	500		500			500
Shares acquired at cost	(18)		(18)					(18)
Shares distributed at cost	18		18					18
Reserve for equity compensation plans	8		8						8
Balance at Dec. 31, 2020	9,923		9,429		1	5,927	0	(4)	8	3,821	(324)		494
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	3,445		3,183								3,183		262
Change in unrealized investment gains and losses, net of tax	(2,077)		(2,077)							(2,077)
Change in equity of noncontrolling interests	(76)												(76)
Dividends on common stock	(50)		(50)								(50)
Purchase of treasury stock	(211)		(211)				(211)
Shares sold in connection with demerger	5		5			1		4
Share based compensation	123		123			123
Reserve for equity compensation plans	(8)		(8)						(8)
Balance at Dec. 31, 2021	11,074		10,394		1	6,051	(211)	0	0	1,744	2,809		680
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	5,740		5,697								5,697		43
Change in unrealized investment gains and losses, net of tax	(7,225)		(7,225)							(7,225)
Change in equity of noncontrolling interests	9												9
Dividends on common stock	(199)		(199)								(199)
Purchase of treasury stock	(321)		(321)				(321)
Share based compensation	77		77			12	89				(24)
Balance at Dec. 31, 2022	$ 9,155		$ 8,423		$ 1	$ 6,063	$ (443)	$ 0	$ 0	$ (5,481)	$ 8,283		$ 732

Consolidated Statements of Cash

Consolidated Statements of Cash Flows $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Cash flows from operating activities:
Net income (loss)	$ 5,740	$ 3,445	$ (1,637)
Adjustments to reconcile net income to net cash provided by operating activities:
Net realized losses (gains) on investments	359	(182)	(377)
Net losses (gains) on derivatives	(2,024)	2,639	7,268
Net losses (gains) on funds withheld reinsurance treaties	(2,186)	21	(440)
Interest credited on other contract holder funds, gross	862	834	1,304
Mortality, expense and surrender charges	(530)	(553)	(593)
Amortization of discount and premium on investments	11	49	55
Deferred income tax expense (benefit)	1,413	675	(776)
Share-based compensation expense	131	129	56
Cash received (paid to) from reinsurance transaction	0	0	(32)
Change in:
Accrued investment income	(11)	55	36
Deferred acquisition costs	1,119	(270)	(1,503)
Funds withheld, net of reinsurance	(402)	(757)	792
Other assets and liabilities, net	724	(403)	(441)
Net cash provided by (used in) operating activities	5,206	5,682	3,712
Sales, maturities and repayments of:
Debt securities	11,535	19,568	30,094
Equity securities	84	50	45
Mortgage loans	1,695	1,747	1,201
Purchases of:
Debt securities	(11,606)	(14,733)	(28,400)
Equity securities	(249)	(111)	(97)
Mortgage loans	(1,816)	(2,427)	(2,189)
Settlements related to derivatives and collateral on investments	(674)	(4,836)	(5,321)
Other investing activities	(343)	(554)	334
Net cash provided by (used in) investing activities	(1,374)	(1,296)	(4,333)
Policyholders' account balances:
Deposits	18,456	20,134	19,607
Withdrawals	(25,173)	(28,712)	(23,083)
Net transfers to separate accounts	5,685	2,664	2,561
Proceeds from (payments on) repurchase agreements and securities lending	(541)	476	1,100
Net proceeds from (payments on) Federal Home Loan Bank notes	0	(380)	80
Net proceeds from (payments on) debt	(825)	735	(60)
Net proceeds from issuance of senior notes	750	1,593	0
Debt issuance costs	(7)	(28)	0
Disposition of shares held in trust at cost, net	0	5	0
Dividends on common stock	(186)	(50)	0
Purchase of treasury stock	(321)	(211)	0
Common stock issuance - Athene	0	0	500
Net cash provided by (used in) financing activities	(2,162)	(3,774)	705
Net increase (decrease) in cash, cash equivalents, and restricted cash	1,670	612	84
Cash, cash equivalents, and restricted cash at beginning of period	2,631	2,019	1,935
Total cash, cash equivalents, and restricted cash at end of period	4,301	2,631	2,019
Supplemental cash flow information
Income taxes paid (received)	(5)	(403)	4
Interest paid	107	30	81
Non-cash investing activities
Debt securities acquired from exchanges, payments-in-kind, and similar transactions	506	370	418
Other invested assets acquired from stock splits and stock distributions	112	99	4
Non-cash financing activities
Non-cash dividend equivalents on stock based awards	(13)	0	0
Non-cash debt restructuring transactions	0	0	(2,350)
Shares issued in settlement of the debt restructuring	0	0	2,350
Reconciliation to Consolidated Balance Sheets
Cash and cash equivalents	4,298	2,623	2,019
Restricted cash (included in Other assets)	3	8	0
Total cash, cash equivalents, and restricted cash	$ 4,301	$ 2,631	$ 2,019

Business and Basis of Presentat

Business and Basis of Presentation	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	Business and Basis of Presentation Jackson Financial Inc. (“Jackson Financial”) along with its subsidiaries (collectively, the “Company,” which also may be referred to as “we,” “our” or “us”), is a financial services company focused on helping Americans grow and protect their retirement savings and income to enable them to pursue financial freedom for life. Jackson Financial, domiciled in the state of Delaware in the United States (“U.S.”), was a majority-owned subsidiary of Prudential plc (“Prudential”), London, England, and was the holding company for Prudential’s U.S. operations. As described below under "Other," the Company's demerger from Prudential was completed on September 13, 2021 ("Demerger"), and the Company is a stand-alone U.S. public company. Jackson Financial’s primary life insurance subsidiary, Jackson National Life Insurance Company and its insurance subsidiaries (collectively, “Jackson”), is licensed to sell group and individual annuity products (including immediate, registered index-linked, deferred fixed, fixed index and variable annuities), and individual life insurance products, including variable universal life, in all 50 states and the District of Columbia. Jackson also participates in the institutional products market through the issuance of guaranteed investment contracts (“GICs”), funding agreements and medium- term note funding agreements. Jackson Financial’s primary operating subsidiaries , in addition to Jackson, are as follows: • PPM America, Inc. (“PPM”), is the Company’s investment management operation that manages the life insurance companies’ general account investment funds. PPM also provides investment services to other former affiliated and unaffiliated institutional clients. • Brooke Life Insurance Company (“Brooke Life”), Jackson’s direct parent, is a life insurance company licensed to sell life insurance and annuity products in the state of Michigan. Other wholly-owned subsidiaries of Jackson are as follows: • Life insurers: Jackson National Life Insurance Company of New York ("Jackson NY" or “JNY”); Squire Reassurance Company LLC (“Squire Re”); Squire Reassurance Company II, Inc. (“Squire Re II”); and VFL International Life Company SPC, LTD; • Registered broker-dealer: Jackson National Life Distributors, LLC ("JNLD"); • Registered investment adviser: Jackson National Asset Management, LLC ("JNAM"), which manages the life insurance companies' separate account funds underlying the variable annuities products, which are sub-advised. JNAM manages and oversees those sub-advisers; • Service provider: PGDS (US One) LLC (“PGDS”), which provides certain services to the Company and certain former affiliates; and • Other insignificant wholly-owned subsidiaries. The Company's Consolidated Financial Statements also include other insignificant partnerships, limited liability companies (“LLCs”) and other variable interest entities (“VIEs”) in which the Company is deemed the primary beneficiary. Other On August 6, 2021, the Company's Class A Common Stock was registered on a Form 10 registration statement filed with the U.S. Securities and Exchange Commission (the "SEC") and became effective under the Securities Exchange Act of 1934, as amended. We refer to that effective Form 10 registration as the "Form 10." The Demerger transaction described in the Form 10 was consummated on September 13, 2021. As of December 31, 2022, Prudential retained a 9.2% remaining interest in the Company, after the Company repurchased 2,242,516 shares of the Company’s Class A Common Stock subsequent to the Demerger, as further discussed in Note 22. On September 9, 2021, the Company effected a 104,960.3836276-for-1 stock split of its Class A Common Stock and Class B Common Stock by way of a reclassification of its Class A Common Stock and Class B Common Stock (the “stock split”). The incremental par value of the newly issued shares was recorded with the offset to additional paid-in capital. All share and earnings per share information presented herein have been retroactively adjusted to reflect the stock split. On June 9, 2022, the Company’s shareholders approved the Third Amended and Restated Certificate of Incorporation, which eliminated the Class B Common Stock. As a result, the Class A Common Stock became simply, common stock. On June 18, 2020, the Company’s subsidiary, Jackson, announced that it had entered into a funds withheld coinsurance agreement with Athene Life Re Ltd. (“Athene”) effective June 1, 2020 to reinsure on 100% quota share basis, a block of Jackson’s in-force fixed and fixed-index annuity product liabilities in exchange for a $1.2 billion ceding commission (the "Athene Reinsurance Agreement"). In addition, we entered into an investment agreement with Athene, pursuant to which Athene invested $500 million of capital in return for a 9.9% voting interest corresponding to a 11.1% economic interest in the Company. That investment was completed on July 17, 2020. In August 2020, the Company made a $500 million capital contribution to its subsidiary, Jackson. As of December 31, 2022, Athene retained a 1.9% voting interest and 1.9% economic interest. We continue to monitor developments related to the COVID-19 pandemic. The COVID-19 pandemic caused significant economic and financial turmoil in the U.S. and around the world. There has been a steady resumption of activity during 2022; however, at this time it is not possible to estimate the long-term effectiveness of any therapeutic treatments and vaccines for COVID-19, or their efficacy with respect to current or future variants or mutations of COVID-19, or the longer-term effects that the COVID-19 pandemic could have on our business. The extent to which the COVID-19 pandemic impacts our business, results of operations, financial condition and cash flows will depend on future developments that are highly uncertain and cannot be predicted. The Company implemented business continuity plans that already were in place to ensure the availability of services for our customers, work at home capabilities for our associates, where appropriate, and other ongoing risk management activities. The Company had associates, as needed or voluntarily, in our offices during this time, as perm itted by local and state restrictions. The Company rolled out a broader “return to office plan” for all associate s, and since September 2022, required some associates to return to the office five days a week. A ssociate s below director level remain on an “office-centric” h ybrid schedule between in-office and remote working arrangements. Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Intercompany accounts and transactions have been eliminated upon consolidation. Certain amounts in the 2021 Notes to Consolidated Financial Statements have been reclassified to conform to the 2022 presentation. Use of Estimates The preparation of the Consolidated Financial Statements in conformity with GAAP requires the use of estimates and assumptions about future events that affect the amounts reported in the Consolidated Financial Statements and the accompanying notes. Significant estimates or assumptions, as further discussed in the notes, include: • Valuation of investments and derivative instruments, including fair values of securities deemed to be in an illiquid market and the determination of when an impairment is necessary; • Assessments as to whether certain entities are variable interest entities, the existence of reconsideration events and the determination of which party, if any, should consolidate the entity; • Assumptions impacting estimated future gross profits, including policyholder behavior, mortality rates, expenses, projected hedging costs, investment returns and policy crediting rates, used in the calculation of amortization of deferred acquisition costs; • Assumptions used in calculating policy reserves and liabilities, including policyholder behavior, mortality rates, expenses, investment returns and policy crediting rates; • Assumptions as to future earnings levels being sufficient to realize deferred tax benefits; • Estimates related to expectations of credit losses on certain financial assets and off-balance sheet exposures; • Assumptions and estimates associated with the Company’s tax positions, including an estimate of the dividends received deduction, which impact the amount of recognized tax benefits recorded by the Company; and • Assumptions used in calculating the value of guaranteed benefits. These estimates and assumptions are based on management’s best estimates and judgments. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors deemed appropriate. As facts and circumstances dictate, these estimates and assumptions may be adjusted. Since future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in estimates, including those resulting from continuing changes in the economic environment, will be reflected in the Consolidated Financial Statements in the periods the estimates are changed. Revision of Prior Period Financial Statements At September 30, 2022, the Company identified errors related to the classification of certain balances and amounts in the line items of the Consolidated Balance Sheets and Consolidated Income Statements. These errors resulted in the revision of balances and amounts related to deferred sales inducement assets, liabilities for certain life-contingent annuities, sub-advisor fee expenses, and other operating expense items that impacted previously issued Consolidated Financial Statements. The impact of these errors to the current and the prior periods' Consolidated Financial Statements were not considered to be material and had no impact on shareholders' equity or net income. However, to improve the consistency and comparability of the financial statements, management revised the financial statements and related disclosures in this Form 10-K. See Note 24 to the Notes to Consolidated Financial Statements for details of the revisions.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The following table identifies our significant accounting policies presented in other Notes to Consolidated Financial Statements: Investments Note 4 Derivatives and Hedge Accounting Note 5 Fair Value Measurements Note 6 Deferred Acquisition Costs Note 7 Reinsurance Note 8 Reserves for Future Policy Benefits and Claims Payable and Other Contract Holder Funds Note 9 Certain Nontraditional Long-Duration Contracts and Variable Annuity Guarantees Note 10 Long-Term Debt Note 11 Income Taxes Note 13 Commitments, Contingencies, and Guarantees Note 14 Share-Based Compensation Note 16 Accumulated Other Comprehensive Income Note 21 Earnings Per Share Note 23 Other Significant Accounting Policies Cash and Cash Equivalents Cash and cash equivalents primarily include money market instruments and bank deposits. Cash equivalents also includes all highly liquid securities and other investments purchased with an original or remaining maturity of three months or less at the date of purchase. Revenue and Expense Recognition Premiums for traditional life insurance are reported as revenues when due. Benefits, claims and expenses are associated with earned revenues in order to recognize profit over the lives of the contracts. This association is accomplished through provisions for future policy benefits and the deferral and amortization of certain acquisition costs. Deposits on interest-sensitive life products and investment contracts, principally deferred annuities and guaranteed investment contracts, are treated as policyholder deposits and excluded from revenue. Revenues consist primarily of investment income and charges assessed against the account value for mortality charges, surrenders, variable annuity benefit guarantees and administrative expenses. Fee income also includes revenues related to asset management fees and certain service fees. Surrender benefits are treated as repayments of the policyholder account. Annuity benefit payments are treated as reductions to the policyholder account. Death benefits in excess of the policyholder account are recognized as an expense when incurred. Expenses consist primarily of the interest credited to policyholder deposits. Direct acquisition expenses are associated with gross profit in order to recognize profit over the life of the business. This is accomplished through deferral and amortization of acquisition costs. Expenses not related to policy acquisition are recognized when incurred. Management Fees Based on a Formula PPM receives an investment management fee for services as an asset manager for various entities. Revenue for these services is measured based on the terms specified in a contract with a customer and is recognized when PPM has satisfied a performance obligation. These investment management fees are recognized ratably over the period that assets are managed, and when the probability of significant revenue reversal is remote. PPM also receives performance-based incentive fees from certain entities for which it invests based on predetermined formulas. Performance related management fees are earned over a specified period and can result in additional fees. These fees are recognized at the end of the agreement, once the fees are fixed, determinable, not subject to further performance metrics, and probability of significant revenue reversal is remote. Changes in Accounting Principles – Adopted in Current Year In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The new guidance provides optional expedients for applying GAAP to contracts and other transactions affected by reference rate reform and is effective for contract modifications made between March 12, 2020 and December 31, 2022. If certain criteria are met, an entity will not be required to remeasure or reassess contracts impacted by reference rate reform. The practical expedient allowed by this standard was elected and is being applied prospectively by the Company as reference rate reform unfolds. The contracts modified to date met the criteria for the practical expedient and therefore had no material impact on the Company’s Consolidated Financial Statements. In December 2022, the FASB issued ASU 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848” which defers the sunset date of Topic 848 from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The amendments are effective for all entities as of December 21, 2022. The Company will continue to evaluate the impacts of reference rate reform on contract modifications and other transactions through December 31, 2024. Changes in Accounting Principles – Issued but Not Yet Adopted In August 2018, the FASB issued ASU 2018-12, “Targeted Improvements to the Accounting for Long-Duration Contracts,” which includes changes to the existing recognition, measurement, presentation and disclosure requirements for long-duration contracts issued by an insurance entity. ASU 2018-12 is effective for fiscal years beginning after December 15, 2022. The amendments in ASU 2018-12 contain four significant changes: 1. Market risk benefits: market risk benefits, a new term for certain contracts or features that provide for potential benefits in addition to the account balance which expose the Company to other than nominal market risk (for example, certain guaranteed benefits on annuity contracts, including guaranteed minimum withdrawal benefits and guaranteed minimum death benefits on variable annuities), will be measured at fair value. Changes in fair value will be recorded and presented separately within the income statement, with the exception of changes in fair value due to instrument-specific credit risk, which will be recognized in other comprehensive income (loss) (“OCI”). See Note 10 to Consolidated Financial Statements for more information regarding guaranteed benefits ; 2. Deferred acquisition costs: deferred acquisition costs (“DAC”) will be amortized on a constant-level basis, independent of profitability on the underlying business; 3. Liability for future policy benefits: annual review and, if necessary, update of cash flow assumptions used to measure the liability for future policy benefits for nonparticipating traditional and limited-payment insurance contracts will be required. These liabilities will be discounted using an upper-medium grade fixed income instrument yield which will be updated quarterly, with related changes in the liability recognized in OCI; and 4. Enhanced disclosures: enhanced disclosures, including disaggregated roll-forwards of certain balance sheet accounts that provide information about actual and expected cash flows, as well as information about significant inputs, judgments, assumptions and methods used in measurement, will be required. The enhanced disclosures are intended to improve the ability of users of the financial statements to evaluate the timing, amount, and uncertainty of cash flows arising from long-duration contracts. The Company will adopt the standard effective January 1, 2023, with a transition date of January 1, 2021, using a modified retrospective approach, except for market risk benefits for which we will apply a full retrospective transition approach. Under the modified retrospective approach, the Company will apply the guidance to contracts in force on the transition date on the basis of their existing carrying value, using updated future cash flow assumptions, and eliminate certain related amounts in accumulated other comprehensive income (loss) (“AOCI”). Under the full retrospective transition approach, the Company will apply the guidance as of the earliest period presented, using actual historical experience information as of contract inception, as if the accounting principle had always been applied. Given the nature and extent of the required changes, the adoption of this standard will have a significant impact on the Company’s Consolidated Financial Statements and disclosures. Based upon the elected transition methods, the Company expects the adoption of the standard to result in a decrease of approximately $3 billion in the Company’s total equity at the transition date of January 1, 2021. This impact is based on the economic conditions experienced at the transition date. The most significant drivers of the transition adjustment are: • changes to the measurement of certain benefits currently accounted for as insurance benefits (e.g., guaranteed minimum death benefits on variable annuities) which will be classified as market risk benefits upon adoption and remeasured at fair value, the impact of which is highly dependent on market conditions, including interest rates; • changes to the discount rate used to measure liabilities for future policyholder benefits which will be remeasured using current upper-medium grade fixed-income instrument yields, which are generally considered to be those on single-A rated public corporate debt; and • the removal of certain balances recorded in AOCI related to changes in unrealized appreciation (depreciation) on investments. In December 2022, the FASB issued ASU 2022-05, “Financial Services – Insurance: Transition for Sold Contracts”, which amends the guidance in ASU 2018-12 to allow an insurance entity to make an accounting policy election, on a transaction-by-transaction basis, to exclude contracts that meet certain criteria from applying the amendments in ASU 2018-12. ASU 2022-05 is effective consistent with the effective date of ASU 2018-12. The Company will adopt the standard effective January 1, 2023. The Company does not plan to make the accounting policy election and does not anticipate an impact to the Consolidated Financial Statements upon adoption.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information The Company has three reportable segments consisting of Retail Annuities, Institutional Products, and Closed Life and Annuity Block; plus, its Corporate and Other segment. These segments reflect how the Company’s chief operating decision maker views and manages the business. The following is a brief description of the Company’s reportable segments. Retail Annuities The Company’s Retail Annuities segment offers a variety of retirement income and savings products through its diverse suite of products, consisting primarily of variable annuities, fixed index annuities, fixed annuities, payout annuities, and registered index-linked annuities ("RILA"). These products are distributed through various wirehouses, insurance brokers and independent broker-dealers, as well as through banks and financial institutions, primarily to high net worth investors and the mass and affluent markets. The Company’s variable annuities represent an attractive option for retirees and soon-to-be retirees, providing access to equity market appreciation and add-on benefits, including guaranteed lifetime income. A fixed index annuity is designed for investors who desire principal protection with the opportunity to participate in capped upside investment returns linked to a reference market index. The Company also provides access to guaranteed lifetime income as an add-on benefit. A fixed annuity is a guaranteed product designed to build wealth without market exposure, through a crediting rate that is likely to be superior to interest rates offered from banks or money market funds. A RILA product offers customers exposure to market returns through market index-linked investment options, subject to a cap, and offers a variety of guarantees designed to modify or limit losses. The financial results of the variable annuity business within the Company’s Retail Annuities segment are largely dependent on the performance of the contract holder account value, which impacts both the level of fees collected and the benefits paid to the contract holder. The financial results of the Company’s fixed annuities, including the fixed option on variable annuities, RILA and fixed index annuities, are largely dependent on the Company’s ability to earn a spread between earned investment rates on general account assets and the interest credited to contract holders. Institutional Products The Company’s Institutional Products consist of traditional Guaranteed Investment Contracts ("GICs"), funding agreements (including agreements issued in conjunction with the Company’s participation in the U.S. Federal Home Loan Bank ("FHLB") program) and medium-term note funding agreements. The Company’s GIC products are marketed to defined contribution pension and profit-sharing retirement plans. Funding agreements are marketed to institutional investors, including corporate cash accounts and securities lending funds, as well as money market funds, and are issued to the FHLB in connection with its program. The financial results of the Company’s institutional products business are primarily dependent on the Company’s ability to earn a spread between earned investment rates on general account assets and the interest credited on GICs and funding agreements. Closed Life and Annuity Blocks The Company's Closed Life and Annuity Blocks segment is primarily composed of blocks of business that have been acquired since 2004. The segment includes various protection products, primarily whole life, universal life, variable universal life, and term life insurance products, as well as fixed, fixed index, and payout annuities. The Closed Life and Annuity Blocks segment also includes a block of group payout annuities that we assumed from John Hancock Life Insurance Company (USA) (“John Hancock”) and John Hancock Life Insurance Company of New York (“John Hancock NY”) through reinsurance transactions in 2018 and 2019, respectively. The Company historically offered traditional and interest-sensitive life insurance products but discontinued new sales of life insurance products in 2012, as we believe opportunistically acquiring mature blocks of life insurance policies is a more efficient means of diversifying our in-force business than selling new life insurance products. The profitability of the Company’s Closed Life and Annuity Blocks segment is largely driven by its historical ability to appropriately price its products and purchase appropriately priced blocks of business, as realized through underwriting, expense and net gains (losses) on derivatives and investments, and the ability to earn an assumed rate of return on the assets supporting that business. Corporate and Other The Company’s Corporate and Other segment primarily consists of the operations of its investment management subsidiary, PPM, VIE’s, and unallocated corporate income and expenses. The Corporate and Other segment also includes certain eliminations and consolidation adjustments. Segment Performance Measurement Segment operating revenues and pretax adjusted operating earnings are non-GAAP financial measures that management believes are critical to the evaluation of the financial performance of the Company’s segments. The Company uses the same accounting policies and procedures to measure segment pretax adjusted operating earnings as used in its reporting of consolidated net income. Pretax adjusted operating earnings is defined as net income recorded in accordance with GAAP, excluding certain items that may be highly variable from period to period due to accounting treatment under GAAP, or that are non-recurring in nature, as well as certain other revenues and expenses that are not considered drivers of underlying performance. Operating revenues and pretax adjusted operating earnings should not be used as a substitute for revenues and net income as calculated in accordance with GAAP. Pretax adjusted operating earnings equals net income adjusted to eliminate the impact of the following items: 1. Guaranteed Benefits and Hedging Results: the fees attributed to guaranteed benefits, the associated movements in optional guaranteed benefit liabilities and related claims and benefit payments are excluded from pretax adjusted operating earnings, as we believe this approach appropriately removes the impact to both revenue and related expenses associated with the guaranteed benefit features that are offered for certain of our variable annuities and fixed index annuities and gives investors a better picture of what is driving our underlying performance. This adjustment includes the following components: • Fees Attributable to Guarantee Benefits : fees earned in conjunction with guaranteed benefit features offered for certain of our variable annuities and fixed index annuities are set at a level intended to mitigate the cost of hedging and funding the liabilities associated with such guaranteed benefit features. The full amount of the fees attributable to guaranteed benefit features have been excluded from pretax adjusted operating earnings as the related net movements in freestanding derivatives and net reserve and embedded derivative movements, as described below, have been excluded from pretax adjusted operating earnings. This adjusted presentation of our earnings is intended to directly align revenue and related expenses associated with the guaranteed benefit features; • Net Movement in Freestanding Derivatives, except earned income (periodic settlements and changes in settlement accruals) on derivatives that are hedges of investments, but do not qualify for hedge accounting treatment : changes in the fair value of our freestanding derivatives used to manage the risk associated with our life and annuity reserves, including those arising from the guaranteed benefit features offered for certain of our variable annuities and fixed index annuities. Net movements in freestanding derivatives have been excluded from pretax adjusted operating earnings as the market value of these derivatives may vary significantly from period to period as a result of near-term market conditions and therefore are not directly comparable or reflective of the underlying performance of our business; • Net Reserve and Embedded Derivative Movements: changes in the valuation of certain life and annuity reserves, a portion of which are accounted for as embedded derivative instruments, and which are primarily composed of variable and fixed index annuity reserves, including those arising from the guaranteed benefit features offered for certain of our variable annuities. Net reserve and embedded derivative movements have been excluded from pretax adjusted operating earnings as the carrying values of these derivatives may vary significantly from period to period as the result of near-term market conditions and policyholder behavior-related inputs and therefore are not directly comparable or reflective of the underlying performance of our business. Movements in reserves attributable to the current period claims and benefit payments in excess of a customer’s account value on these policies are also excluded from pretax adjusted operating earnings as these benefit payments are affected by near-term market conditions and policyholder behavior-related inputs and therefore may vary significantly from period to period; • DAC and Deferred Sales Inducements ("DSI") Impact: amortization of deferred acquisition costs and deferred sales inducements associated with the items excluded from pretax adjusted operating earnings; • Assumption changes : the impact on the valuation of Net Derivative and Reserve Movements, including amortization of DAC, arising from changes in underlying actuarial assumptions generally made on an annual basis; 2. Net Realized Investment Gains and Losses including change in fair value of funds withheld embedded derivative: realized investment gains and losses associated with the periodic sales or disposals of securities, excluding those held within our trading portfolio, as well as impairments of securities, after adjustment for the non-credit component of the impairment charges and change in fair value of funds withheld embedded derivative related to the Athene Reinsurance Transaction; 3. Loss on Athene Reinsurance Transaction: includes contractual ceding commission, cost of reinsurance write-off and DAC and DSI write-off related to the Athene Reinsurance Transaction; 4. Net investment income on funds withheld assets : includes net investment income on funds withheld assets related to funds withheld reinsurance transactions; 5. Other items : one-time or other non-recurring items, such as costs relating to the Demerger and our separation from Prudential, the impact of discontinued operations and investments that are consolidated on our financial statements due to U.S. GAAP accounting requirements, such as our investments in collateralized loan obligations ("CLOs"), but for which the consolidation effects are not aligned with our economic interest or exposure to those entities. Operating income taxes are calculated using the prevailing corporate federal income tax rate of 21% while taking into account any items recognized differently in our financial statements and federal income tax returns, including the dividends received deduction and other tax credits. For interim reporting periods, the Company uses an estimated annual effective tax rate ("ETR") in computing its tax provision including consideration of discrete items. Set forth in the tables below is certain information with respect to the Company’s segments, as described above (in millions): For the Year Ended December 31, 2022 Retail Annuities Closed Life Institutional Corporate and Total Operating Revenues Fee income $ 4,108 $ 474 $ — $ 52 $ 4,634 Premiums 10 134 — — 144 Net investment income 403 706 312 65 1,486 Income on operating derivatives 17 31 (22) 14 40 Other income 42 35 — 8 85 Total Operating Revenues 4,580 1,380 290 139 6,389 Operating Benefits and Expenses Death, other policy benefits and change in policy 59 838 — — 897 Interest credited on other contract holder funds, net of deferrals and amortization 254 407 201 — 862 Interest expense 32 — 5 76 113 Operating costs and other expenses, net of deferrals 2,174 130 5 123 2,432 Amortization of deferred acquisition costs 435 6 — 12 453 Total Operating Benefits and Expenses 2,954 1,381 211 211 4,757 Pretax Adjusted Operating Earnings $ 1,626 $ (1) $ 79 $ (72) $ 1,632 For the Year Ended December 31, 2021 Retail Annuities Closed Life Institutional Corporate and Total Operating Revenues Fee income $ 4,636 $ 492 $ — $ 65 $ 5,193 Premiums 15 145 — — 160 Net investment income 692 950 260 55 1,957 Income on operating derivatives 52 72 (3) 32 153 Other income 47 39 — 8 94 Total Operating Revenues 5,442 1,698 257 160 7,557 Operating Benefits and Expenses Death, other policy benefits and change in policy 13 860 — — 873 Interest credited on other contract holder funds, net 226 420 188 — 834 Interest expense 22 — — 15 37 Operating costs and other expenses, net of deferrals 2,456 180 5 146 2,787 Amortization of deferred acquisition costs 197 14 — 34 245 Total Operating Benefits and Expenses 2,914 1,474 193 195 4,776 Pretax Adjusted Operating Earnings $ 2,528 $ 224 $ 64 $ (35) $ 2,781 For the Year Ended December 31, 2020 Retail Annuities Closed Life Institutional Corporate and Total Operating Revenues Fee income $ 3,806 $ 513 $ — $ 88 $ 4,407 Premiums 27 172 — — 199 Net investment income 956 778 355 (35) 2,054 Income on operating derivatives 48 58 — 21 127 Other income 30 25 1 8 64 Total Operating Revenues 4,867 1,546 356 82 6,851 Operating Benefits and Expenses Death, other policy benefits and change in policy 142 906 — — 1,048 Interest credited on other contract holder funds, 477 436 250 — 1,163 Interest expense 27 — 16 45 88 Operating costs and other expenses, net of deferrals 2,158 187 5 134 2,484 Amortization of deferred acquisition costs 57 17 — 20 94 Total Operating Benefits and Expenses 2,861 1,546 271 199 4,877 Pretax Adjusted Operating Earnings $ 2,006 $ — $ 85 $ (117) $ 1,974 Intersegment eliminations in the above tables are included in the Corporate and Other segment. This includes the elimination of investment income, net of deferred acquisition costs amortization, between Retail Annuities and the Corporate and Other segments. This also includes the elimination from fee income, investment income, and operating costs and other expenses, of investment fees paid by Jackson Financial subsidiaries to its affiliate PPM, which was $74 million, $69 million, and $78 million for the years ended December 31, 2022, 2021 and 2020. The following table summarizes the reconciling items from the non-GAAP measure of operating revenues to the GAAP measure of total revenues attributable to the Company (in millions): Years Ended December 31, 2022 2021 2020 Total operating revenues 6,389 7,557 $ 6,851 Fees attributed to variable annuity benefit reserves 3,077 2,854 2,509 Net gains (losses) on derivatives and investments 3,810 (2,631) (6,578) Net investment income (loss) related to noncontrolling interests 43 262 (3) Consolidated investments (22) 17 (25) Net investment income on funds withheld assets 1,254 1,188 792 Total revenues (1) $ 14,551 $ 9,247 $ 3,546 (1) Substantially all the Company's revenues originated in the U.S. There were no individual customers that exceeded 10% of total revenues. The following table summarizes the reconciling items from the non-GAAP measure of operating benefits and expenses to the GAAP measure of total benefits and expenses attributable to the Company (in millions): Years Ended December 31, 2022 2021 2020 Total operating benefits and expenses 4,757 4,776 $ 4,877 Benefits attributed to variable annuity benefit reserves 238 119 150 Amortization of DAC and DSI related to non-operating revenues and expenses 1,288 275 (1,252) SOP 03-1 reserve movements 1,155 (22) 164 Athene reinsurance transaction — — 2,082 Other items 2 52 16 Total benefits and expenses $ 7,440 $ 5,200 $ 6,037 The following table summarizes the reconciling items, net of deferred acquisition costs and deferred sales inducements, from the non-GAAP measure of pretax adjusted operating earnings to the GAAP measure of net income attributable to the Company (in millions): Years Ended December 31, 2022 2021 2020 Pretax adjusted operating earnings $ 1,632 $ 2,781 $ 1,974 Non-operating adjustments (income) loss: Fees attributable to guarantee benefit reserves 3,077 2,854 2,509 Net movement in freestanding derivatives (2,744) (5,674) (4,662) Net reserve and embedded derivative movements 2,891 2,753 (3,184) DAC and DSI impact (1,214) (266) 1,261 Assumption changes 367 24 128 Net realized investment gains (losses) including change in fair value of funds withheld embedded derivative 1,827 161 817 Loss on funds withheld reinsurance transaction — — (2,082) Net investment income on funds withheld assets 1,254 1,188 792 Other items (22) (36) (41) Pretax income (loss) attributable to Jackson Financial Inc. 7,068 3,785 (2,488) Income tax expense (benefit) 1,371 602 (854) Net income (loss) attributable to Jackson Financial Inc. $ 5,697 $ 3,183 $ (1,634) The following table summarizes total assets by segment (in millions): December 31, 2022 2021 Retail Annuities $ 265,557 $ 327,194 Closed Life and Annuity Blocks 29,611 32,616 Institutional Products 10,175 10,713 Corporate and Other 5,715 5,036 Total Assets $ 311,058 $ 375,559

Investments

Investments	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investments are comprised primarily of fixed-income securities and loans, primarily publicly-traded corporate and government bonds, asset-backed securities and mortgage loans. Asset-backed securities include mortgage-backed and other structured securities. The Company generates the majority of its general account deposits from interest-sensitive individual annuity contracts, life insurance products and institutional products on which it has committed to pay a declared rate of interest. The Company's strategy of investing in fixed-income securities and loans aims to ensure matching of the asset yield with the amounts credited to the interest-sensitive liabilities and to earn a stable return on its investments. Debt Securities Debt securities consist primarily of bonds, notes, and asset-backed securities. Acquisition discounts and premiums on debt securities are amortized into investment income through call or maturity dates using the effective interest method. Discounts and premiums on asset-backed securities are amortized over the estimated redemption period. Certain asset-backed securities for which the Company might not recover substantially all of its recorded investment are accounted for on a prospective basis according to changes in the estimated future cash flows. Debt securities are generally classified as available-for-sale and are carried at fair value. For debt securities in an unrealized loss position, for which the Company deems an impairment necessary, the amortized cost may be written down to fair value through net gains (losses) on derivatives and investments, or an allowance for credit loss (“ACL”) may be recorded along with a charge to net gains (losses) on derivatives and investments. Certain debt securities included from consolidation of certain VIEs are carried at fair value under the fair value option with changes in fair value included in net investment income. Other debt securities included from consolidation of certain VIEs are classified as trading securities and are carried at fair value with the changes in fair value included in net investment income. The following table sets forth the composition of the fair value of debt securities at December 31, 2022 and 2021, classified by rating categories as assigned by nationally recognized statistical rating organizations (“NRSRO”), the National Association of Insurance Commissioners (“NAIC”), or if not rated by such organizations, the Company’s consolidated investment advisor, PPM. The Company uses the second lowest rating by an NRSRO when NRSRO ratings are not equivalent and, for purposes of the table, if not otherwise rated by an NRSRO, the NAIC rating of a security is converted to an equivalent NRSRO-style rating. At December 31, 2022 and 2021, the carrying value of investments rated by the Company’s consolidated investment advisor totaled $32 million and $13 million, respectively. Percent of Total Debt December 31, Investment Rating 2022 2021 AAA 17.9% 14.5% AA 8.2% 9.6% A 29.9% 28.5% BBB 36.4% 40.9% Investment grade 92.4% 93.5% BB 3.9% 3.6% B and below 3.7% 2.9% Below investment grade 7.6% 6.5% Total debt securities 100.0% 100.0% At December 31, 2022, based on ratings by NRSROs, of the total carrying value of debt securities in an unrealized loss position, 78% were investment grade, 2% were below investment grade and 20% were not rated. Unrealized losses on debt securities that were below investment grade or not rated were approximately 21% of the aggregate gross unrealized losses on available-for-sale debt securities. At December 31, 2021, based on ratings by NRSROs, of the total carrying value of debt securities in an unrealized loss position, 76% were investment grade, 2% were below investment grade and 22% were not rated. Unrealized losses on debt securities that were below investment grade or not rated were approximately 16% of the aggregate gross unrealized losses on available for sale debt securities. Corporate securities in an unrealized loss position were diversified across industries. As of December 31, 2022, the industries accounting for the largest percentage of unrealized losses included utility (16% of corporate gross unrealized losses) and healthcare (10%). The largest unrealized loss related to a single corporate obligor was $57 million at December 31, 2022. As of December 31, 2021, the industries accounting for the largest percentage of unrealized losses included financial services (16% of corporate gross unrealized losses) and consumer goods (15%). The largest unrealized loss related to a single corporate obligor was $16 million at December 31, 2021. At December 31, 2022 and 2021, the amortized cost, ACL, gross unrealized gains and losses, and fair value of debt securities, including trading securities and securities carried at fair value under the fair value option, were as follows (in millions): Allowance Gross Gross Amortized for Unrealized Unrealized Fair December 31, 2022 Cost (1) Credit Loss Gains Losses Value U.S. government securities $ 6,192 $ — $ 1 $ 1,008 $ 5,185 Other government securities 1,719 2 1 251 1,467 Public utilities 5,893 — 27 695 5,225 Corporate securities 28,803 15 59 3,701 25,146 Residential mortgage-backed 510 6 19 59 464 Commercial mortgage-backed 1,821 — — 183 1,638 Other asset-backed securities 6,133 — 8 504 5,637 Total debt securities $ 51,071 $ 23 $ 115 $ 6,401 $ 44,762 Allowance Gross Gross Amortized for Unrealized Unrealized Fair December 31, 2021 Cost (1) Credit Loss Gains Losses Value U.S. government securities $ 4,525 $ — $ 97 $ 301 $ 4,321 Other government securities 1,489 — 147 17 1,619 Public utilities 6,069 — 671 25 6,715 Corporate securities 29,701 — 1,682 237 31,146 Residential mortgage-backed 528 2 46 3 569 Commercial mortgage-backed 1,968 — 76 6 2,038 Other asset-backed securities 6,926 7 71 23 6,967 Total debt securities $ 51,206 $ 9 $ 2,790 $ 612 $ 53,375 (1) Amortized cost, apart from the carrying value for securities carried at fair value under the fair value option and trading securities. The amortized cost, ACL, gross unrealized gains and losses, and fair value of debt securities at December 31, 2022, by contractual maturity, are shown below (in millions). Actual maturities may differ from contractual maturities where securities can be called or prepaid with or without early redemption penalties. Allowance Gross Gross Amortized for Unrealized Unrealized Fair Cost (1) Credit Loss Gains Losses Value Due in 1 year or less $ 2,472 $ — $ — $ 7 $ 2,465 Due after 1 year through 5 years 9,761 3 15 435 9,338 Due after 5 years through 10 years 13,477 11 26 1,541 11,951 Due after 10 years through 20 years 9,165 3 46 1,658 7,550 Due after 20 years 7,732 — 1 2,014 5,719 Residential mortgage-backed 510 6 19 59 464 Commercial mortgage-backed 1,821 — — 183 1,638 Other asset-backed securities 6,133 — 8 504 5,637 Total $ 51,071 $ 23 $ 115 $ 6,401 $ 44,762 (1) Amortized cost, apart from the carrying value for securities carried at fair value under the fair value option and trading securities. As required by law in various states in which business is conducted, securities with a carrying value of $90 million and $117 million at December 31, 2022 and 2021, respectively, were on deposit with regulatory authorities. Residential mortgage-backed securities (“RMBS”) include certain RMBS that are collateralized by residential mortgage loans and are neither expressly nor implicitly guaranteed by U.S. government agencies (“non-agency RMBS”). The Company’s non-agency RMBS include investments in securities backed by prime, Alt-A, and subprime loans as follows (in millions): Allowance Gross Gross Amortized for Unrealized Unrealized Fair December 31, 2022 Cost (1) Credit Loss Gains Losses Value Prime $ 206 $ 4 $ 2 $ 30 $ 174 Alt-A 84 2 7 10 79 Subprime 27 — 10 1 36 Total non-agency RMBS $ 317 $ 6 $ 19 $ 41 $ 289 Allowance Gross Gross Amortized for Unrealized Unrealized Fair December 31, 2021 Cost (1) Credit Loss Gains Losses Value Prime $ 228 $ 1 $ 10 $ 2 $ 235 Alt-A 94 1 21 — 114 Subprime 39 — 13 — 52 Total non-agency RMBS $ 361 $ 2 $ 44 $ 2 $ 401 (1) Amortized cost, apart from carrying value for securities carried at fair value under the fair value option and trading securities. The Company defines its exposure to non-agency residential mortgage loans as follows: • Prime loan-backed securities are collateralized by mortgage loans made to the highest rated borrowers. • Alt-A loan-backed securities are collateralized by mortgage loans made to borrowers who lack credit documentation or necessary requirements to obtain prime borrower rates. • Subprime loan-backed securities are collateralized by mortgage loans made to borrowers that have a FICO score of 660 or lower. The following tables summarize the amount of gross unrealized losses, fair value and the number of securities aggregated by investment category and length of time that individual debt securities have been in a continuous loss position (dollars in millions): December 31, 2022 December 31, 2021 Less than 12 months Less than 12 months Gross Fair Gross Fair Unrealized # of Unrealized # of Losses securities Losses securities U.S. government securities $ 339 $ 2,815 40 $ 2 $ 107 16 Other government securities 174 1,258 143 17 252 23 Public utilities 508 4,279 490 17 721 93 Corporate securities 2,087 17,068 2,323 180 6,343 728 Residential mortgage-backed 43 279 196 3 174 109 Commercial mortgage-backed 138 1,421 177 5 314 37 Other asset-backed securities 282 3,485 417 22 3,224 338 Total temporarily impaired securities $ 3,571 $ 30,605 3,786 $ 246 $ 11,135 1,344 12 months or longer 12 months or longer Gross Fair Gross Fair Unrealized # of Unrealized # of Losses securities Losses securities U.S. government securities $ 669 $ 1,386 6 $ 299 $ 3,190 7 Other government securities 77 177 23 — 4 2 Public utilities 187 520 87 7 99 8 Corporate securities 1,614 4,601 644 58 661 69 Residential mortgage-backed 16 81 94 — 11 12 Commercial mortgage-backed 45 192 31 1 30 3 Other asset-backed securities 222 1,551 171 1 11 3 Total temporarily impaired securities $ 2,830 $ 8,508 1,056 $ 366 $ 4,006 104 Total Total Gross Fair Gross Fair Unrealized # of Unrealized # of Losses securities (1) Losses securities (1) U.S. government securities $ 1,008 $ 4,201 42 $ 301 $ 3,297 21 Other government securities 251 1,435 162 17 256 25 Public utilities 695 4,799 562 24 820 98 Corporate securities 3,701 21,669 2,806 238 7,004 776 Residential mortgage-backed 59 360 290 3 185 121 Commercial mortgage-backed 183 1,613 206 6 344 39 Other asset-backed securities 504 5,036 577 23 3,235 341 Total temporarily impaired securities $ 6,401 $ 39,113 4,645 $ 612 $ 15,141 1,421 (1) Certain securities contain multiple lots and fit the criteria of both aging groups. Debt securities in an unrealized loss position as of December 31, 2022 did not require an impairment recognized in earnings as (i) the Company did not intend to sell these debt securities, (ii) it is not more likely than not that the Company will be required to sell these securities before recovery of their amortized cost basis, and (iii) the difference in the fair value compared to the amortized cost was due to factors other than credit loss. Based upon this evaluation, the Company believes it has the ability to generate adequate amounts of cash from normal operations to meet cash requirements with a reasonable margin of safety without requiring the sale of impaired securities. As of December 31, 2022, unrealized losses associated with debt securities are primarily due to widening credit spreads or rising risk-free rates since purchase. The Company performed a detailed analysis of the financial performance of the underlying issues in an unrealized loss position and determined that recovery of the entire amortized cost of each impaired security is expected. In addition, mortgage-backed and asset-backed securities were assessed for credit impairment using a cash flow model that incorporates key assumptions including default rates, severities, and prepayment rates. The Company estimated losses for a security by forecasting performance in the underlying loans in each transaction. The forecasted loan performance was used to project cash flows to the various tranches in the structure, as applicable. The forecasted cash flows also considered, as applicable, independent industry analyst reports and forecasts, and other independent market data. Based upon this assessment of the expected credit losses of the security given the performance of the underlying collateral compared to subordination or other credit enhancement, the Company expects to recover the entire amortized cost of each impaired security. Evaluation of Available-for-Sale Debt Securities for Credit Loss For debt securities in an unrealized loss position, management first assesses whether the Company has the intent to sell, or whether it is more likely than not it will be required to sell the security before the amortized cost basis is fully recovered. If either criterion is met, the amortized cost is written down to fair value through net gains (losses) on derivatives and investments as an impairment. Debt securities in an unrealized loss position for which the Company does not have the intent to sell or is not more likely than not to sell the security before recovery to amortized cost are further evaluated to determine if the cause of the decline in fair value resulted from credit losses or other factors, which includes estimates about the operations of the issuer and future earnings potential. The credit loss evaluation may consider the following: the extent to which the fair value is below amortized cost; changes in ratings of the security; whether a significant covenant related to the security has been breached; whether an issuer has filed or indicated a possibility of filing for bankruptcy, has missed or announced it intends to miss a scheduled interest or principal payment, or has experienced a specific material adverse change that may impair its creditworthiness; judgments about an obligor’s current and projected financial position; an issuer’s current and projected ability to service and repay its debt obligations; the existence of, and realizable value of, any collateral backing the obligations; and the macro-economic and micro-economic outlooks for specific industries and issuers. In addition to the above, the credit loss review of investments in asset-backed securities includes the review of future estimated cash flows, including expected and stress case scenarios, to identify potential shortfalls in contractual payments. These estimated cash flows are developed using available performance indicators from the underlying assets including current and projected default or delinquency rates, levels of credit enhancement, current subordination levels, vintage, expected loss severity and other relevant characteristics. These estimates reflect a combination of data derived by third parties and internally developed assumptions. Where possible, this data is benchmarked against third-party sources. For mortgage-backed securities, credit losses are assessed using a cash flow model that estimates the cash flows on the underlying mortgages, using the security-specific collateral characteristics and transaction structure. The model estimates cash flows from the underlying mortgage loans and distributes those cash flows to various tranches of securities, considering the transaction structure and any subordination and credit enhancements existing in that structure. The cash flow model incorporates actual cash flows on the mortgage-backed securities through the current period and then projects the remaining cash flows using a number of assumptions, including prepayment timing, default rates and loss severity. Specifically, for prime and Alt-A RMBS, the assumed default percentage is dependent on the severity of delinquency status, with foreclosures and real estate owned receiving higher rates, but also includes the currently performing loans. These estimates reflect a combination of data derived by third parties and internally developed assumptions. Where possible, this data is benchmarked against other third-party sources. In addition, these estimates are extrapolated along a default timing curve to estimate the total lifetime pool default rate. When a credit loss is determined to exist and the present value of cash flows expected to be collected is less than the amortized cost of the security, an allowance for credit loss is recorded along with a charge to net gains (losses) on derivatives and investments, limited by the amount that the fair value is less than amortized cost. Any remaining unrealized loss after recording the allowance for credit loss is the non-credit amount and is recorded to other comprehensive income. The allowance for credit loss for specific debt securities may be increased or reversed in subsequent periods due to changes in the assessment of the present value of cash flows that are expected to be collected. Any changes to the allowance for credit loss is recorded as a provision for (or reversal of) credit loss expense in net gains (losses) on derivatives and investments. 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 debt securities. Accrued interest receivables that are determined to be uncollectible are written off with a corresponding reduction to net investment income. Accrued interest of nil was written off during the years ended December 31, 2022 and 2021. The roll forward of the allowance for credit loss for available-for-sale securities by sector is as follows (in millions): December 31, 2022 US Other government securities Public Corporate securities Residential mortgage-backed Commercial mortgage-backed Other Total Balance at January 1, 2022 $ — $ — $ — $ — $ 2 $ — $ 7 $ 9 Additions for which credit loss was not previously recorded — 6 1 43 4 — — 54 Changes for securities with previously recorded credit loss — — (1) (10) — — (7) (18) Additions for purchases of PCD debt securities (1) — — — — — — — — Reductions from charge-offs — — — — — — — — Reductions for securities disposed — (4) — (1) — — — (5) Securities intended/required to be sold before recovery of amortized cost basis — — — (17) — — — (17) Balance at December 31, 2022 (2) $ — $ 2 $ — $ 15 $ 6 $ — $ — $ 23 December 31, 2021 US Other government securities Public Corporate securities Residential mortgage-backed Commercial mortgage-backed Other Total Balance at January 1, 2021 $ — $ — $ — $ — $ — $ — $ 14 $ 14 Additions for which credit loss was not previously recorded — — — — 2 — — 2 Changes for securities with previously recorded credit loss — — — — — — 9 9 Additions for purchases of PCD debt securities (1) — — — — — — — — Reductions from charge-offs — — — — — — — — Reductions for securities disposed — — — — — — (16) (16) Securities intended/required to be sold before recovery of amortized cost basis — — — — — — — — Balance at December 31, 2021 (2) $ — $ — $ — $ — $ 2 $ — $ 7 $ 9 (1) Represents purchased credit-deteriorated ("PCD") fixed maturity available-for-sale securities. (2) Accrued interest receivable on debt securities totaled $407 million and $381 million as of December 31, 2022 and 2021, respectively, and was excluded from the determination of credit losses for the years ended December 31, 2022 and 2021. Net Investment Income The sources of net investment income were as follows (in millions): Years Ended December 31, 2022 2021 2020 Debt securities (1) $ 1,076 $ 1,154 $ 1,617 Equity securities (16) 8 (14) Mortgage loans 285 319 365 Policy loans 69 73 79 Limited partnerships 144 795 105 Other investment income 49 13 12 Total investment income excluding funds withheld assets 1,607 2,362 2,164 Net investment income on funds withheld assets (see Note 8) 1,254 1,188 792 Investment expenses (100) (126) (138) Net investment income $ 2,761 $ 3,424 $ 2,818 (1) Includes changes in fair value gains (losses) on trading securities and includes $(149) million, $26 million and $(25) million for the years ended December 31, 2022, 2021 and 2020, respectively, related to the change in fair value for securities carried under the fair value option. Investment income is not accrued on securities in default and otherwise where the collection is uncertain. In these cases, receipts of interest on such securities are used to reduce the cost basis of the securities. Unrealized gains (losses) included in investment income that were recognized on equity securities held were $(52) million, $26 million and $(51) million, for the years ended December 31, 2022, 2021 and 2020, respectively. Net Gains (Losses) on Derivatives and Investments Realized gains and losses on sales of investments are recognized in income at the date of sale and are determined using the specific cost identification method. The following table summarizes net gains (losses) on derivatives and investments (in millions): Years Ended December 31, 2022 2021 2020 Available-for-sale securities Realized gains on sale $ 41 $ 169 $ 778 Realized losses on sale (429) (88) (196) Credit loss income (expense) (5) (10) (14) Gross impairments — — (27) Credit loss income (expense) on mortgage loans (16) 62 (61) Other (1) 50 49 (103) Net gains (losses) excluding derivatives and funds withheld assets (359) 182 377 Net gains (losses) on derivative instruments (see Note 5) 2,024 (2,639) (7,268) Net gains (losses) on funds withheld reinsurance treaties (see Note 8) 2,186 (21) 440 Total net gains (losses) on derivatives and investments $ 3,851 $ (2,478) $ (6,451) (1) Includes the foreign currency gain or loss related to foreign denominated trust instruments supporting funding agreements. Net gains (losses) on funds withheld reinsurance treaties represents income (loss) from the sale of investments held in segregated funds withheld accounts in support of reinsurance agreements for which Jackson retains legal ownership of the underlying investments. These gains (losses) are increased or decreased by changes in the embedded derivative liability related to the Athene Reinsurance Agreement. The gains (losses) also include (i) changes in the related funds withheld payable, as all economic performance of the investments held in the segregated funds withheld accounts inure to the benefit of the reinsurers under the respective reinsurance agreements with each reinsurer, and (ii) amortization of the difference between book value and fair value of the investments as of the effective date of the reinsurance agreements with each reinsurer. The aggregate fair value of securities sold at a loss for the years ended December 31, 2022, 2021 and 2020 was $5,376 million, $2,604 million and $7,612 million, which was approximately 93%, 95% and 97% of book value, respectively. Proceeds from sales of available-for-sale debt securities were $7,980 million, $9,600 million and $25,533 million during the years ended December 31, 2022, 2021 and 2020, respectively. There are inherent uncertainties in assessing the fair values assigned to the Company’s investments. The Company’s reviews of net present value and fair value involve several criteria including economic conditions, credit loss experience, other issuer-specific developments and estimated future cash flows. These assessments are based on the best available information at the time. Factors such as market liquidity, the widening of bid/ask spreads and a change in the cash flow assumptions can contribute to future price volatility. If actual experience differs negatively from the assumptions and other considerations used in the Consolidated Financial Statements, unrealized losses currently reported in accumulated other comprehensive income (loss) may be recognized in the Consolidated Income Statements in future periods. The Company currently has no intent to sell securities with unrealized losses considered to be temporary until they mature or recover in value and believes that it has the ability to do so. However, if the specific facts and circumstances surrounding an individual security, or the outlook for its industry sector change, the Company may sell the security prior to its maturity or recovery and realize a loss. Consolidated Variable Interest Entities ("VIEs") The Company’s involvement with VIEs is primarily to invest in assets that gain exposure to a broadly diversified portfolio of asset classes. A VIE is an entity that does not have sufficient equity to finance the activities of the entity without additional subordinated financial support or where equity investors lack certain characteristics of a controlling financial interest. The Company performs ongoing qualitative assessments of variable interests in VIEs to determine whether it has a controlling financial interest and would therefore be considered the primary beneficiary of the VIE. If the Company determines it is the primary beneficiary of a VIE, it consolidates the assets and liabilities of the VIE in its Consolidated Financial Statements. The Company funds affiliated limited liability companies to facilitate the issuance of collateralized loan obligations. The Company concluded that these limited liability companies are VIEs and that the Company is the primary beneficiary as it has the power to direct the most significant activities affecting the performance of the entity as well as the obligation to absorb losses or the right to receive benefits that could potentially be significant to the entity. In April 2022, the Company reinvested in collateralized loan obligation issuances resulting in an increase of consolidated assets and liabilities. The Company’s exposure to loss is limited to the capital invested and unfunded capital commitments. In December 2022, a consolidated VIE issued $276 million par, net of the Company’s holding, of collateralized loan obligation. The Company’s policy is to record the consolidation of VIEs on a one-month lag due to the timing of when information is available from the VIE. Therefore, the VIE's issuance of this CLO is not reflected in the Company’s Consolidated Balance Sheet as of December 31, 2022, but would not materially impact the financial position of the Company as a result of the offsetting changes to assets and liabilities. Private Equity Funds III – VIII are limited partnership structures that invest the ownership capital in portfolios of various other limited partnership structures. The Company concluded that the Private Equity Funds are VIEs and that the Company is the primary beneficiary as it has the power to direct the most significant activities affecting the performance of the funds as well as the obligation to absorb losses or the right to receive benefits that could potentially be significant to the funds. In the fourth quarter of 2021, the Company entered into a commitment to invest up to $300 million in the newly formed Private Equity Fund VIII. The Company’s exposure to loss is limited to the capital invested and unfunded capital commitments. PPM has created and managed institutional share class mutual funds, where Jackson seeds new funds, or new share classes within a fund, when deemed necessary to develop the requisite track record prior to allowing investment by external parties. Jackson may sell its interest in the fund once opened to investment by external parties. The Company concluded that these funds are VIEs and that the Company is the primary beneficiary as it has both the power to direct the most significant activities of the VIE as well as the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The Company’s exposure to loss related to these mutual funds is limited to the capital invested. Asset and liability information for the consolidated VIEs included on the Consolidated Balance Sheets are as follows (in millions): December 31, 2022 December 31, 2021 Assets Debt securities, at fair value under fair value option $ 2,014 $ 1,546 Debt securities, trading 100 117 Equity securities 127 129 Other invested assets 1,507 1,309 Cash and cash equivalents 75 120 Other assets 19 45 Total assets $ 3,842 $ 3,266 Liabilities Notes issued by consolidated VIEs, at fair value under fair value option $ 1,732 $ 1,404 Other liabilities 343 307 Total other liabilities 2,075 1,711 Securities lending payable 4 4 Total liabilities $ 2,079 $ 1,715 Equity Noncontrolling interests $ 732 $ 680 Unconsolidated VIEs The Company invests in certain LPs and LLCs that it has concluded are VIEs. Based on the analysis of these entities, the Company is not the primary beneficiary of the VIEs as it does not have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance. In addition, the Company does not have the obligation to absorb losses or the right to receive benefits that could potentially be significant to the entities. Therefore, the Company does not consolidate these VIEs and the carrying amounts of the Company’s investments in these LPs and LLCs are recognized in other invested assets on the Consolidated Balance Sheets. Unfunded capital commitments for these investments are detailed in Note 14. The Company’s exposure to loss is limited to the capital invested and unfunded capital commitments related to the LPs/LLCs, which was $3,285 million and $3,860 million as of December 31, 2022 and 2021, respectively. The capital invested in an LP or LLC equals the original capital contributed, increased for additional capital contributed after the initial investment, and reduced for any returns of capital from the LP or LLC. LPs and LLCs are carried at fair value. The Company invests in certain mutual funds that it has concluded are VIEs. Based on the analysis of these entities, the Company is not the primary beneficiary of the VIEs. Mutual funds for which the Company does not have the obligation to absorb losses or the right to receive benefits that could potentially be significant to the entities are recognized in equity securities on the Consolidated Balance Sheets and were $28 million and $33 million as of December 31, 2022 and 2021, respectively. The Company’s maximum exposure to loss on these mutual funds is limited to the amortized cost for these investments. The Company makes investments in structured debt securities issued by VIEs for which it is not the manager. These structured debt securities include RMBS, Commercial Mortgage-Backed Securities ("CMBS"), and asset-backed securities ("ABS"). The Company does not consolidate the securitization trusts utilized in these transactions because it does not have the power to direct the activities that most significantly impact the economic performance of these securitization trusts. The Company does not consider its continuing involvement with these VIEs to be significant because it either invests in securities issued by the VIE and was not involved in the design of the VIE or no transfers have occurred between the Company and the VIE. The Company’s maximum exposure to loss on these structured debt securities is limited to the amortized cost of these investments. The Company does not have any further contractual obligations to the VIE. The Company recognizes the variable interest in these VIEs at fair value on the Consolidated Balance Sheets. Commercial and Residential Mortgage Loans Commercial and residential mortgage loans are generally carried at the aggregate unpaid principal balance, adjusted for any applicable unamortized discount or premium, or ACL. Acquisition discounts and premiums on mortgage loans are amortized into investment income through maturity dates using the effective interest method. Interest income is accrued on the principal balance of the loan based on the loan’s contractual interest rate. Interest income and amortization of premiums and discounts are reported in net investment income along with prepayment fees and mortgage loan fees, which are recorded as incurred. Commercial mortgage loans of $10.2 billion and $10.5 billion at December 31, 2022 and 2021, respectively, are reported net of an allowance for credit losses of $91 million and $85 million at each date, respectively. At December 31, 2022, commercial mortgage loans were collateralized by properties located in 38 states, the District of Columbia, and Europe. Accrued interest receivable on commercial mortgage loans was $39 million and $32 million at December 31, 2022 and 202

Derivative Instruments

Derivative Instruments	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Freestanding Derivative Instruments The Company enters into financial derivative transactions, including swaps, put-swaptions, futures and options to reduce and manage business risks. These transactions manage the risk of a change in the value, yield, price, cash flows, credit quality or degree of exposure with respect to assets, liabilities or future cash flows which the Company has acquired or incurred. The Company does not account for freestanding derivatives as either fair value or cash flow hedges as might be permitted if specific hedging documentation requirements were followed. As a result, freestanding derivatives are carried at fair value on the balance sheet with settlements and changes in fair value recorded in net gains (losses) on derivatives and investments. With respect to the Company’s interest rate swaps, total return swaps, and cross-currency swaps, the Company records the income related to periodic interest payment settlements within net gains (losses) on derivatives and investments. Although the Company does not account for these as cash flow hedges, the income from these settlements is considered operating income due to the cash settlement nature and is reported, as such, within the Company’s segment related disclosure within pretax adjusted operating earnings. The Company manages the potential credit exposure for over-the-counter derivative contracts through evaluation of the counterparty credit standing, collateral agreements, and master netting agreements. The Company is exposed to credit-related losses in the event of nonperformance by counterparties, however, it does not anticipate nonperformance. There were no charges due to nonperformance by derivative counterparties in 2022, 2021 or 2020. Embedded Derivatives—Product Liabilities Certain product liabilities, including fixed index annuities, RILAs and guarantees offered in connection with variable and fixed index annuities and RILAs issued by the Company, may contain embedded derivatives. Derivatives embedded in certain host insurance contracts that have been separated for accounting and financial reporting purposes, are carried at fair value. The results from changes in value of embedded derivatives are reported in net income. See “Variable Annuity Guarantees”, “Fixed Index Annuities”, and "RILA", which are further discussed in Note 10 for additional information on the accounting policies for embedded derivatives bifurcated from insurance host contracts. Embedded Derivatives—Funds Withheld Reinsurance Agreements The Company has recorded an embedded derivative liability related to the Athene Reinsurance Agreement (the “Athene Embedded Derivative”) in accordance with FASB ASC 815-15-55-107 and 108, “Derivatives and Hedging Case B: Reinsurer’s Receivable Arising from a Modified Coinsurance Arrangement” as Jackson’s obligation under the Reinsurance Agreement is based on the total return of investments in a segregated funds withheld account rather than Jackson’s own creditworthiness. As the Reinsurance Agreement transfers the economics of the investments in the segregated funds withheld account to Athene, they will receive an investment return equivalent to owning the underlying assets. At inception of the Reinsurance Agreement, the Athene Embedded Derivative was valued at zero. Additionally, the inception fair value of the investments in the segregated funds withheld account differed from their book value and, accordingly, the amortization of this difference is reported in net gains (losses) on derivatives and investments in the Consolidated Income Statements, while the investments are held. Subsequent to the effective date of the Reinsurance Agreement, the Athene Embedded Derivative is measured at fair value with changes reported in net gains (losses) on derivatives and investments in the Consolidated Income Statements. The Athene Embedded Derivative Liability is included in funds withheld payable under reinsurance treaties in the Consolidated Balance Sheets. See “Athene Reinsurance” in Note 8 for additional information on the Athene Reinsurance Transaction. A summary of the aggregate contractual or notional amounts and fair values of the Company’s freestanding and embedded derivative instruments are as follows (in millions): December 31, 2022 Contractual/ Assets Liabilities Net Notional Fair Fair Fair Value Amount (1) Value Value Asset (Liability) Freestanding derivatives Cross-currency swaps $ 1,825 $ 73 $ 104 $ (31) Equity index call options 17,500 106 — 106 Equity index futures (2) 19,760 — — — Equity index put options 30,500 958 — 958 Interest rate swaps 7,728 5 231 (226) Interest rate swaps - cleared (2) 1,500 — — — Put-swaptions 25,000 — 1,711 (1,711) Interest rate futures (2) 105,261 — — — Total return swaps 739 31 — 31 Total freestanding derivatives 209,813 1,173 2,046 (873) Embedded derivatives Variable annuity embedded derivatives (3) N/A 2,154 — 2,154 Fixed index annuity embedded derivatives (4) N/A — 931 (931) Registered index linked annuity embedded derivatives (4) N/A — 205 (205) Total embedded derivatives N/A 2,154 1,136 1,018 Derivatives related to funds withheld under reinsurance treaties Cross-currency swaps 158 23 1 22 Cross-currency forwards 1,490 74 18 56 Funds withheld embedded derivative (5) N/A 3,158 — 3,158 Total derivatives related to funds withheld under reinsurance treaties 1,648 3,255 19 3,236 Total $ 211,461 $ 6,582 $ 3,201 $ 3,381 (1) The notional amount for swaps and swaptions represents the stated principal balance used as a basis for calculating payments. The contractual amount for futures and options represents the market exposure of open positions. (2) Variation margin is considered settlement resulting in the netting of cash received/paid for variation margin against the fair value of the trades. (3) Variable annuity net embedded derivatives are included within reserves for future policy benefits and claims payable on the Consolidated Balance Sheets. The nonperformance risk adjustment is included in the balance above. (4) Included within other contract holder funds on the Consolidated Balance Sheets. The nonperformance risk adjustment is included in the balance above. (5) Included within funds withheld payable under reinsurance treaties on the Consolidated Balance Sheets. December 31, 2021 Contractual/ Assets Liabilities Net Notional Fair Fair Fair Value Amount (1) Value Value Asset (Liability) Freestanding derivatives Cross-currency swaps $ 1,767 $ 55 $ 35 $ 20 Equity index call options 21,000 606 — 606 Equity index futures (2) 18,258 — — — Equity index put options 27,500 150 — 150 Interest rate swaps 7,728 430 — 430 Interest rate swaps - cleared (2) 1,500 — — — Put-swaptions 19,000 133 — 133 Interest rate futures (2) 912 — — — Total freestanding derivatives 97,665 1,374 35 1,339 Embedded derivatives Variable annuity embedded derivatives (3) N/A — 2,626 (2,626) Fixed index annuity embedded derivatives (4) N/A — 1,439 (1,439) Registered index linked annuity embedded derivatives (4) N/A — 6 (6) Total embedded derivatives N/A — 4,071 (4,071) Derivatives related to funds withheld under reinsurance treaties Cross-currency swaps 158 10 1 9 Cross-currency forwards 1,119 33 5 28 Funds withheld embedded derivative (5) N/A — 120 (120) Total derivatives related to funds withheld under reinsurance treaties 1,277 43 126 (83) Total $ 98,942 $ 1,417 $ 4,232 $ (2,815) (1) The notional amount for swaps and swaptions represents the stated principal balance used as a basis for calculating payments. The contractual amount for futures and options represents the market exposure of open positions. (2) Variation margin is considered settlement resulting in the netting of cash received/paid for variation margin against the fair value of the trades. (3) Variable annuity net embedded derivatives are included within reserves for future policy benefits and claims payable on the Consolidated Balance Sheets. The nonperformance risk adjustment is included in the balance above. (4) Included within other contract holder funds on the Consolidated Balance Sheets. The nonperformance risk adjustment is included in the balance above. (5) Included within funds withheld payable under reinsurance treaties on the Consolidated Balance Sheets. The following table reflects the results of the Company’s derivatives, including gains (losses) and change in fair value of freestanding derivative instruments and embedded derivatives (in millions): Years Ended December 31, 2022 2021 2020 Derivatives excluding funds withheld under reinsurance treaties Cross-currency swaps $ (67) $ (36) $ 74 Equity index call options (1,830) 1,479 1,468 Equity index futures 3,005 (4,663) (8,286) Equity index put options (244) (1,202) (218) Interest rate swaps (615) (179) 578 Interest rate swaps - cleared (201) (64) 1 Put-swaptions (1,832) 134 199 Interest rate futures (925) (989) 1,650 Total return swaps 5 — — Fixed index annuity embedded derivatives 3 (5) 30 Registered index linked annuity embedded derivatives 37 (1) — Variable annuity embedded derivatives 4,688 2,887 (2,764) Total net gains (losses) on derivative instruments excluding derivative instruments related to funds withheld under reinsurance treaties 2,024 (2,639) (7,268) Derivatives related to funds withheld under reinsurance treaties Cross-currency swaps 14 15 (5) Cross-currency forwards 79 42 (19) Treasury futures — — (204) Funds withheld embedded derivative 3,278 707 (827) Total net gains (losses) on derivative instruments related to funds withheld under reinsurance treaties 3,371 764 (1,055) Total net gains (losses) on derivative instruments including derivative instruments related to funds withheld under reinsurance treaties $ 5,395 $ (1,875) $ (8,323) All of the Company’s trade agreements for freestanding, over-the-counter derivatives, contain credit downgrade provisions that allow a party to assign or terminate derivative transactions if the counterparty’s credit rating declines below an established limit. At December 31, 2022 and 2021, the fair value of the Company’s net non-cleared, over-the-counter derivative assets by counterparty were $885 million and $1,376 million, respectively, and held collateral was $858 million and $1,576 million, respectively, related to these agreements. At December 31, 2022 and 2021, the fair value of the Company’s net non-cleared, over-the-counter derivative liabilities by counterparty were $1,680 million and nil, respectively, and provided collateral was $1,650 million and nil, respectively, related to these agreements. If all of the downgrade provisions had been triggered at December 31, 2022 and 2021, in aggregate, the Company would have had to disburse $30 million and $200 million, respectively, and would have been allowed to claim $27 million and nil, respectively. Offsetting Assets and Liabilities The Company’s derivative instruments, repurchase agreements and securities lending agreements are subject to master netting arrangements and collateral arrangements. A master netting arrangement with a counterparty creates a right of offset for amounts due to and due from that same counterparty that is enforceable in the event of a default or bankruptcy. The Company recognizes amounts subject to master netting arrangements on a gross basis within the Consolidated Balance Sheets. The following tables present the gross and net information about the Company’s financial instruments subject to master netting arrangements (in millions): December 31, 2022 Gross Gross Net Amounts Gross Amounts Not Offset Financial Instruments (1) Cash Securities Collateral (2) Net Financial Assets: Freestanding derivative assets $ 1,270 $ — $ 1,270 $ 385 $ 683 $ 157 $ 45 Financial Liabilities: Freestanding derivative liabilities $ 2,065 $ — $ 2,065 $ 385 $ — $ 1,638 $ 42 Securities loaned 36 — 36 — 36 — — Repurchase agreements 1,012 — 1,012 — — 1,012 — Total financial liabilities $ 3,113 $ — $ 3,113 $ 385 $ 36 $ 2,650 $ 42 (1) Represents the amount that could be offset under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets. (2) Excludes initial margin amounts for exchange-traded derivatives. December 31, 2021 Gross Gross Net Amounts Gross Amounts Not Offset Financial Instruments (1) Cash Securities Collateral (2) Net Financial Assets: Freestanding derivative assets $ 1,417 $ — $ 1,417 $ 41 $ 817 $ 555 $ 4 Financial Liabilities: Freestanding derivative liabilities $ 41 $ — $ 41 $ 41 $ — $ — $ — Securities loaned 17 — 17 — 17 — — Repurchase agreements 1,572 — 1,572 — — 1,572 — Total financial liabilities $ 1,630 $ — $ 1,630 $ 41 $ 17 $ 1,572 $ — (1) Represents the amount that could be offset under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets. (2) Excludes initial margin amounts for exchange-traded derivatives.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value measurements are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s view of market assumptions in the absence of observable market information. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. All financial assets and liabilities measured at fair value are required to be classified into one of the following categories: Level 1 Observable inputs that reflect quoted prices for identical assets or liabilities in active markets that the Company has the ability to access at the measurement date. Level 1 securities include U.S. Treasury securities and exchange traded equity securities and derivative instruments. Level 2 Observable inputs, other than quoted prices included in Level 1, for the asset or liability or prices for similar assets and liabilities. Most debt securities that are model priced using observable inputs are classified within Level 2. Also included are freestanding and embedded derivative instruments that are priced using models with observable market inputs. Level 3 Valuations that are derived from techniques in which one or more of the significant inputs are unobservable (including assumptions about risk). Embedded derivatives that are valued using unobservable inputs are included in Level 3. Because Level 3 fair values, by their nature, contain unobservable market inputs, considerable judgment may be used to determine the Level 3 fair values. Level 3 fair values represent the Company’s best estimate of an amount that could be realized in a current market exchange absent actual market exchanges. In many situations, inputs used to measure the fair value of an asset or liability may fall into different levels of the fair value hierarchy. In these situations, the Company determines the level in which the fair value falls based upon the lowest level input that is significant to the determination of the fair value. As a result, both observable and unobservable inputs may be used in the determination of fair values that the Company has classified within Level 3. The Company determines the fair values of certain financial assets and liabilities based on quoted market prices, where available. The Company may also determine fair value based on estimated future cash flows discounted at the appropriate current market rate. When appropriate, fair values reflect adjustments for counterparty credit quality, the Company’s credit standing, liquidity and risk margins on unobservable inputs. Where quoted market prices are not available, fair value estimates are made at a point in time, based on relevant market data, as well as the best information about the individual financial instrument. At times, illiquid market conditions may result in inactive markets for certain of the Company’s financial instruments. In such instances, there may be no or limited observable market data for these assets and liabilities. Fair value estimates for financial instruments deemed to be in an illiquid market are based on judgments regarding current economic conditions, liquidity discounts, currency, credit and interest rate risks, loss experience and other factors. These fair values are estimates and involve considerable uncertainty and variability as a result of the inputs selected and may differ materially from the values that would have been used had an active market existed. As a result of market inactivity, such calculated fair value estimates may not be realizable in an immediate sale or settlement of the instrument. In addition, changes in the underlying assumptions used in the fair value measurement technique could significantly affect these fair value estimates. The following table summarizes the fair value and carrying value of the Company’s financial instruments (in millions): December 31, 2022 December 31, 2021 Carrying Fair Carrying Fair Assets Debt securities (1) $ 44,762 $ 44,762 $ 53,375 $ 53,375 Equity securities 393 393 279 279 Mortgage loans (1) 11,549 10,841 11,482 11,910 Limited partnerships 3,212 3,212 2,831 2,831 Policy loans (1) 4,377 4,377 4,475 4,475 Freestanding derivative instruments 1,270 1,270 1,417 1,417 Federal Home Loan Bank of Indianapolis ("FHLBI") capital stock 146 146 125 125 Cash and cash equivalents 4,298 4,298 2,623 2,623 GMIB reinsurance recoverable 170 170 262 262 Separate account assets 195,906 195,906 248,949 248,949 Liabilities Annuity reserves (2) 35,203 30,223 40,389 48,711 Reserves for guaranteed investment contracts (3) 1,128 1,099 894 923 Trust instruments supported by funding agreements (3) 5,887 5,760 5,986 6,175 FHLB funding agreements (3) 2,004 2,104 1,950 1,938 Funds withheld payable under reinsurance treaties (1) 22,957 22,957 29,007 29,007 Long-term debt 2,635 2,344 2,649 2,745 Securities lending payable 36 36 17 17 Freestanding derivative instruments 2,065 2,065 41 41 Notes issued by consolidated VIEs 1,732 1,732 1,404 1,404 Repurchase agreements 1,012 1,012 1,572 1,572 Separate account liabilities 195,906 195,906 248,949 248,949 (1) Includes items carried at fair value under the fair value option and trading securities. (2) Annuity reserves represent only the components of other contract holder funds and reserves for future policy benefits and claims payable that are considered to be financial instruments. The fair value amounts shown in the table for 2021 have been revised for an immaterial error related to the historical disclosure for annuity reserves not reported at fair value within the Fair Value Measurement note to the Consolidated Financial Statements. The prior period error did not impact the Consolidated Balance Sheets. (3) Included as a component of other contract holder funds on the Consolidated Balance Sheets. The following is a discussion of the methodologies used to determine fair values of the financial instruments measured on both a recurring and nonrecurring basis reported in the following tables. Debt and Equity Securities The fair values for debt and equity securities are determined using information available from independent pricing services, broker-dealer quotes, or internally derived estimates. Priority is given to publicly available prices from independent sources, when available. Securities for which the independent pricing service does not provide a quotation are either submitted to independent broker-dealers for prices or priced internally. Typical inputs used by these three pricing methods include reported trades, benchmark yields, credit spreads, liquidity premiums and/or estimated cash flows based on default and prepayment assumptions. As a result of typical trading volumes and the lack of specific quoted market prices for most debt securities, independent pricing services will normally derive the security prices through recently reported trades for identical or similar securities, making adjustments through the reporting date based upon available market observable information as outlined above. If there are no recently reported trades, the independent pricing services and broker-dealers may use matrix or pricing model processes to develop a security price where future cash flow expectations are developed based upon collateral performance and discounted at relevant market rates. Certain securities are priced using broker-dealer quotes, which may utilize proprietary inputs and models. Additionally, the majority of these quotes are non-binding. Included in the pricing of asset-backed securities are estimates of the rate of future prepayments of principal over the remaining life of the securities. Such estimates are derived based on the characteristics of the underlying structure and prepayment assumptions believed to be relevant for the underlying collateral. Actual prepayment experience may vary from these estimates. Internally derived estimates may be used to develop a fair value for securities for which the Company is unable to obtain either a reliable price from an independent pricing service or a suitable broker-dealer quote. These fair value estimates may incorporate Level 2 and Level 3 inputs and are generally derived using expected future cash flows, discounted at market interest rates available from market sources based on the credit quality and duration of the instrument. For securities that may not be reliably priced using these internally developed pricing models, a fair value may be estimated using indicative market prices. These prices are indicative of an exit price, but the assumptions used to establish the fair value may not be observable or corroborated by market observable information and, therefore, represent Level 3 inputs. The Company performs an analysis on the prices and credit spreads received from third parties to ensure that the prices represent a reasonable estimate of the fair value. This process involves quantitative and qualitative analysis and is overseen by investment and accounting professionals. Examples of procedures performed include initial and ongoing review of third-party pricing service methodologies, review of pricing statistics and trends, back testing recent trades and monitoring of trading volumes. In addition, the Company considers whether prices received from independent broker-dealers represent a reasonable estimate of fair value using internal and external cash flow models, which are developed based on spreads and, when available, market indices. As a result of this analysis, if the Company determines there is a more appropriate fair value based upon the available market data, the price received from the third party may be adjusted accordingly. For those securities that were internally valued at December 31, 2022 and 2021, the pricing model used by the Company utilizes current spread levels of similarly rated securities to determine the market discount rate for the security. Furthermore, appropriate risk premiums for illiquidity and non-performance are incorporated in the discount rate. Cash flows, as estimated by the Company using issuer-specific default statistics and prepayment assumptions, are discounted to determine an estimated fair value. On an ongoing basis, the Company reviews the independent pricing services’ valuation methodologies and related inputs and evaluates the various types of securities in its investment portfolio to determine an appropriate fair value hierarchy distribution based upon trading activity and the observability of market inputs. Based on the results of this evaluation, each price is classified into Level 1, 2, or 3. Most prices provided by independent pricing services, including broker-dealer quotes, are classified into Level 2 due to their use of market observable inputs. Limited Partnerships Fair values for limited partnership interests, which are included in other invested assets, is generally determined using the proportion of the Company’s investment in the value of the net assets of each fund (“NAV equivalent”) as a practical expedient for fair value, and generally, are recorded on a three-month lag. No material adjustments were deemed necessary at December 31, 2022 and 2021. The Company’s limited partnership interests are not redeemable and distributions received are generally the result of liquidation of the underlying assets of the partnerships. The Company generally has the ability under the partnership agreements to sell its interest to another limited partner with the prior written consent of the general partner. In cases when the Company expects to sell the limited partnership interest, the estimated sales price is used to determine the fair value rather than the practical expedient. These limited partnership interests are classified as Level 2 in the fair value hierarchy. In cases when a limited partnership's financial statements are unavailable and a NAV equivalent is not available or practical, the fair value may be based on an internally developed model or provided by the general partner as determined using private transactions, information obtained from the primary co-investor or underlying company, or financial metrics provided by the lead sponsor. These investments are classified as Level 3 in the fair value hierarchy. Policy Loans Policy loans are funds provided to policyholders in return for a claim on the policies values and function like demand deposits which are redeemable upon repayment, death or surrender, and there is only one market price at which the transaction could be settled – the then current carrying value. The funds provided are limited to the cash surrender value of the underlying policy. The nature of policy loans is to have a negligible default risk as the loans are fully collateralized by the value of the policy. Policy loans do not have a stated maturity and the balances and accrued interest are repaid either by the policyholder or with proceeds from the policy. Due to the collateralized nature of policy loans and unpredictable timing of payments, the Company believes the carrying value of policy loans approximates fair value. The reinsurance related component of policy loans at fair value under the fair value option have been classified as Level 3 within the fair value hierarchy. Freestanding Derivative Instruments Freestanding derivative instruments are reported at fair value, which reflects the estimated amounts, net of payment accruals, which the Company would receive or pay upon sale or termination of the contracts at the reporting date. Changes in fair value are included in net gains (losses) on derivatives and investments. Freestanding derivatives priced using third party pricing services incorporate inputs that are predominantly observable in the market. Inputs used to value derivatives include interest rate swap curves, credit spreads, interest rates, counterparty credit risk, equity volatility and equity index levels. Freestanding derivative instruments classified as Level 1 include futures, which are traded on active exchanges. Freestanding derivative instruments classified as Level 2 include interest rate swaps, cross currency swaps, cross-currency forwards, credit default swaps, total return swaps, put-swaptions and certain equity index call and put options. These derivative valuations are determined by third-party pricing services using pricing models with inputs that are observable in the market or can be derived principally from, or corroborated by, observable market data. Freestanding derivative instruments classified as Level 3 include interest rate contingent options that are valued by third-party pricing services utilizing significant unobservable inputs. Cash and Cash Equivalents Cash and cash equivalents primarily include money market instruments and bank deposits. Cash equivalents also includes all highly liquid securities and other investments purchased with an original or remaining maturity of three months or less at the date of purchase. Certain money market instruments are valued using unadjusted quoted prices in active markets and are classified as Level 1. Funds Withheld Payable Under Reinsurance Treaties The funds withheld payable under reinsurance treaties includes both the funds withheld payable which are held at fair value under the fair value option and the funds withheld embedded derivative liability. The fair value of the funds withheld payable which are held at fair value under the fair value option is equal to the fair value of the assets held as collateral, which primarily consists of policy loans using industry standard valuation techniques. The funds withheld embedded derivative liability is determined based upon a total return swap technique referencing the fair value of the investments held under the reinsurance contract and requires certain significant unobservable inputs. The funds withheld payable which are held at fair value under the fair value option and the funds withheld embedded derivative are considered Level 3 in the fair value hierarchy. Separate Account Assets Separate account assets are comprised of investments in mutual funds that transact regularly, but do not trade in active markets as they are not publicly available, and, are categorized as Level 2 assets. Variable Annuity Guarantees Variable annuity contracts issued by the Company offer various guaranteed minimum death, withdrawal, income and accumulation benefits. Certain benefits, including non-life contingent components of guaranteed minimum withdrawal benefits (“GMWB”) and guaranteed minimum withdrawal benefits for life (“GMWB for Life”), guaranteed minimum accumulation benefits (“GMAB”), and the reinsurance recoverable on the Company’s guaranteed minimum income benefits (“GMIB”), are recorded at fair value. Guaranteed benefits that are not subject to fair value accounting are accounted for as insurance benefits. The Company discontinued offering the GMIB in 2009 and GMAB in 2011. GMABs and non-life contingent components of GMWB and GMWB for Life contracts are recorded at fair value with changes in fair value recorded in net gains (losses) on derivatives and investments. The fair value is based on the expectations of future benefit payments and certain future fees associated with the benefits. At the inception of the contract, the Company attributes to the embedded derivative a portion of rider fees collected from the contract holder, which is then held static in future valuations. Those fees, generally referred to as the attributed fees, are set such that the present value of the attributed fees is equal to the present value of future claims expected to be paid under the guaranteed benefit at the inception of the contract. In subsequent valuations, both the present value of future benefits and the present value of attributed fees are revalued based on current market conditions and policyholder behavior assumptions. The difference between each of the two components represents the fair value of the embedded derivative. Thus, when unfavorable equity market movements cause declines in the contract holder’s account value relative to the guarantee benefit, the valuation of future expected claims would generally increase relative to the measurement performed at the inception of the contract, resulting in an increase in the fair value of the embedded derivative liability (and vice versa). The Company’s GMIB book is reinsured through an unrelated party, and due to the net settlement provisions of the reinsurance agreement, this contract meets the definition of a derivative. Accordingly, the GMIB reinsurance agreement is recorded at fair value, with changes in fair value recorded in net gains (losses) on derivatives and investments. Due to the inability to economically reinsure or hedge new issues of the GMIB, the Company discontinued offering the benefit in 2009. Fair values for GMWB, GMWB for Life, and GMAB embedded derivatives, as well as GMIB reinsurance recoverables, are calculated using internally developed models because active, observable markets do not exist for those guaranteed benefits. The fair value calculation is based on the present value of future cash flows comprised of future expected benefit payments, less future attributed rider fees, over the lives of the contracts. Estimating these cash flows requires numerous estimates and subjective judgments related to capital market inputs, as well as actuarially determined assumptions related to expectations concerning policyholder behavior. Capital market inputs include expected market rates of return, market volatility, correlations of market index returns to funds, fund performance and discount rates. The more significant actuarial assumptions include benefit utilization by policyholders, lapse, mortality, and withdrawal rates. Best estimate assumptions plus risk margins are used as applicable. At each valuation date, the fair value calculation reflects expected returns based on constant maturity treasury rates as of that date to determine the value of expected future cash flows produced in a stochastic process. Volatility assumptions are based on a weighting of available market data for implied market volatility for durations up to 10 years, grading to a historical volatility level by year 15, where such long-term historical volatility levels contain an explicit risk margin. Additionally, non-performance risk is incorporated into the calculation through the adjustment of the risk-free rate curve based on spreads indicated by a blend of yields on similarly rated peer debt and yields on JFI debt (adjusted to operating company levels). Risk margins are also incorporated into the model assumptions, particularly for policyholder behavior. Estimates of future policyholder behavior are subjective and are based primarily on the Company’s experience. As markets change, mature and evolve and actual policyholder behavior emerges, management continually evaluates the appropriateness of its assumptions for this component of the fair value model. The use of the models and assumptions described above requires a significant amount of judgment. Management believes the aggregation of each of these components results in an amount that the Company would be required to transfer for a liability, or receive for an asset, to or from a willing buyer or seller, if one existed, for those market participants to assume the risks associated with the guaranteed benefits and the related reinsurance. However, the ultimate settlement amount of the asset or liability, which is currently unknown, could likely be significantly different than this fair value. Fixed Index Annuities The fair value of the fixed index annuities embedded option, incorporating such factors as the volatility of returns, the level of interest rates and the time remaining until the option expires, is calculated using the closed form Black-Scholes Option Pricing model or Monte Carlo simulations, as appropriate for the type of option. Additionally, assumed withdrawal rates are used to estimate the expected volume of embedded options that will be realized by policyholders. RILA The fair value of the RILA embedded option, incorporating such factors as the volatility of returns, the level of interest rates and the time remaining until the option expires, is calculated using the closed form Black-Scholes Option Pricing model. Additionally, assumed withdrawal rates are used to estimate the expected volume of embedded options that will be realized by policyholders. Notes Issued by Consolidated VIEs These notes, at fair value under the fair value option, are based on the fair values of corresponding fixed maturity collateral. The CLO liabilities are also reduced by the fair value of the beneficial interest the Company retains in the CLO and the carrying value of any beneficial interests that represent compensation for services. As the notes are valued based on the reference collateral, they are classified as Level 2. Fair Value Option The Company elected the fair value option for debt securities related to certain consolidated investments totaling $2,014 million and $1,546 million at December 31, 2022 and 2021, respectively. These debt securities are reflected on the Company’s Consolidated Balance Sheets as debt securities, at fair value under the fair value option. The Company has elected the fair value option for certain funds withheld assets, which are held as collateral for reinsurance, totaling $4,160 million and $3,632 million at December 31, 2022 and 2021, respectively, as discussed above, and includes mortgage loans as discussed below. The Company elected the fair value option for certain mortgage loans held under the funds withheld reinsurance agreement. The fair value option was elected for these mortgage loans, purchased or funded after December 31, 2021, to mitigate inconsistency in earnings that would otherwise result between these mortgage loan assets and the funds withheld liability, including the associated embedded derivative, and are valued using third-party pricing services. Changes in fair value are reflected in net investment income on the Consolidated Income Statements. The fair value and aggregate contractual principal for mortgage loans where the fair value option was elected after December 31, 2021, were as follows (in millions): December 31, 2022 Fair value $ 582 Aggregate contractual principal 591 As of December 31, 2022, no loans for which the fair value option was elected were in non-accrual status, and no loans were more than 90 days past due and still accruing interest. The Company elected the fair value option for notes issued by consolidated VIEs totaling $1,732 million and $1,404 million at December 31, 2022 and 2021, respectively. Income and changes in unrealized gains and losses on other assets for which the Company has elected the fair value option are immaterial to the Company’s Consolidated Financial Statements. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following tables summarize the Company’s assets and liabilities that are carried at fair value by hierarchy levels (in millions): December 31, 2022 Total Level 1 Level 2 Level 3 Assets Debt securities U.S. government securities $ 5,185 $ 5,184 $ 1 $ — Other government securities 1,467 — 1,467 — Public utilities 5,225 — 5,225 — Corporate securities 25,146 — 25,090 56 Residential mortgage-backed 464 — 464 — Commercial mortgage-backed 1,638 — 1,638 — Other asset-backed securities 5,637 — 5,637 — Equity securities 393 165 106 122 Mortgage loans 582 — — 582 Limited partnerships (1) 440 — — 440 Policy loans 3,419 — — 3,419 Freestanding derivative instruments 1,270 — 1,270 — Cash and cash equivalents 4,298 4,298 — — GMIB reinsurance recoverable 170 — — 170 Separate account assets 195,906 — 195,906 — Total $ 251,240 $ 9,647 $ 236,804 $ 4,789 Liabilities Embedded derivative (assets) liabilities (2) $ (1,018) $ — $ 1,136 $ (2,154) Funds withheld payable under reinsurance treaties (3) 424 — — 424 Freestanding derivative instruments 2,065 — 2,065 — Notes issued by consolidated VIEs 1,732 — 1,732 — Total $ 3,203 $ — $ 4,933 $ (1,730) (1) Excludes $2,772 million of limited partnership investments measured at NAV. (2) Includes net embedded derivative (assets) liabilities of $(2,154) million related to GMWB reserves included in reserves for future policy benefits and claims payable, and $205 million related to RILA and $931 million of fixed index annuities, both included in other contract holder funds on the Consolidated Balance Sheets. (3) Includes the Athene Embedded Derivative asset of $3,158 million and funds withheld payable under reinsurance treaties at fair value under the fair value option. December 31, 2021 Total Level 1 Level 2 Level 3 Assets Debt securities U.S. government securities $ 4,321 $ 4,321 $ — $ — Other government securities 1,619 — 1,619 — Public utilities 6,715 — 6,715 — Corporate securities 31,146 — 31,137 9 Residential mortgage-backed 569 — 569 — Commercial mortgage-backed 2,038 — 2,038 — Other asset-backed securities 6,967 — 6,967 — Equity securities 279 111 56 112 Limited partnerships (1) 413 — 17 396 Policy loans 3,467 — — 3,467 Freestanding derivative instruments 1,417 — 1,417 — Cash and cash equivalents 2,623 2,623 — — GMIB reinsurance recoverable 262 — — 262 Separate account assets 248,949 — 248,949 — Total $ 310,785 $ 7,055 $ 299,484 $ 4,246 Liabilities Embedded derivative (assets) liabilities (2) $ 4,071 $ — $ 1,445 $ 2,626 Funds withheld payable under reinsurance treaties (3) 3,759 — — 3,759 Freestanding derivative instruments 41 — 41 — Notes issued by consolidated VIEs 1,404 — 1,404 — Total $ 9,275 $ — $ 2,890 $ 6,385 (1) Excludes $2,418 million of limited partnership investments measured at NAV. The fair value amounts shown in the table and the amount disclosed as measured at NAV have been revised for an immaterial error related to the historical disclosure of certain limited partnerships which are measured using a Level 3 fair value measurement as being measured using NAV as a practical expedient within the Fair Value Measurement note to the consolidated financial statements. The prior period error did not impact the Consolidated Balance Sheets. (2) Includes net embedded derivative (assets) liabilities of $2,626 million related to GMWB reserves included in reserves for future policy benefits and claims payable, and $6 million related to RILA and $1,439 million of fixed index annuities, both included in other contract holder funds on the Consolidated Balance Sheets. (3) Includes the Athene Embedded Derivative liability of $120 million and funds withheld payable under reinsurance treaties at fair value under the fair value option. Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) Level 3 Assets and Liabilities by Price Source The table below presents the balances of Level 3 assets and liabilities measured at fair value with their corresponding pricing sources (in millions): December 31, 2022 Assets Total Internal External Debt securities: Corporate $ 56 $ — $ 56 Equity securities 122 1 121 Mortgage loans 582 — 582 Limited partnerships 440 8 432 Policy loans 3,419 3,419 — GMIB reinsurance recoverable 170 170 — Total $ 4,789 $ 3,598 $ 1,191 Liabilities Embedded derivative (assets) liabilities (1) $ (2,154) $ (2,154) $ — Funds withheld payable under reinsurance treaties (2) 424 424 — Total $ (1,730) $ (1,730) $ — (1) Includes the net embedded derivative (asset) liability related to GMWB reserves presented in reserves for future policy benefits and claims payable. (2) Includes the Athene Embedded Derivative asset of $3,158 million and funds withheld payable under reinsurance treaties at fair value under the fair value option. December 31, 2021 Assets Total Internal External Debt securities: Corporate $ 9 $ — $ 9 Equity securities 112 1 111 Limited partnerships (3) 396 1 395 Policy loans 3,467 3,467 — GMIB reinsurance recoverable 262 262 — Total $ 4,246 $ 3,731 $ 515 Liabilities Embedded derivative (assets) liabilities (1) $ 2,626 $ 2,626 $ — Funds withheld payable under reinsurance treaties (2) 3,759 3,759 — Total $ 6,385 $ 6,385 $ — (1) Includes the net embedded derivative (asset) liability related to GMWB reserves presented in reserves for future policy benefits and claims payable. (2) Includes the Athene Embedded Derivative liability of $120 million and funds withheld payable under reinsurance treaties at fair value under the fair value option. (3) The fair value amounts shown in the table have been revised for an immaterial error related to the historical disclosure of certain limited partnerships which are measured using a Level 3 fair value measurement as being measured using NAV as a practical expedient within the Fair Value Measurement note to the consolidated financial statements. The prior period error did not impact the consolidated balance sheets. External pricing sources for securities represent unadjusted prices from independent pricing services and independent indicative broker quotes where pricing inputs are not readily available. Quantitative Information Regarding Internally-Priced Level 3 Assets and Liabilities The table below presents quantitative information on internally priced Level 3 assets and liabilities that use significant unobservable inputs (in millions): As of December 31, 2022 Fair Valuation Technique(s) Significant Unobservable Input(s) Assumption or Input Range Impact of Increase in Input on Fair Value Assets GMIB reinsurance recoverable $ 170 Discounted cash flow Mortality (1) 0.01% - 51.25% Decrease Lapse (2) 2.97% - 8.10% Decrease Utilization (3) 0.00% - 20.00% Increase Withdrawal (4) 4.75% - 5.25% Increase Nonperformance risk adjustment (5) 0.64% - 2.27% Decrease Long-term Equity Volatility (6) 18.50% - 23.68% Increase Liabilities Embedded derivative (assets) liabilities $ (2,154) Discounted cash flow Mortality (1) 0.04% - 49.20% Decrease Lapse (2) 0.12% - 41.28% Decrease Utilization (3) 1.35% - 100.00% Increase Withdrawal (4) 58.75% - 100.00% Increase Nonperformance risk adjustment (5) 0.64% - 2.27% Decrease Long-term Equity Volatility (6) 18.50% - 23.68% Increase (1) Mortality rates vary by attained age, tax qualification status, GMWB benefit election, and duration. The range displayed reflects ages from the minimum issue age for the benefit through age 95, which corresponds to the typical maturity age. A mortality improvement assumption is also applied. (2) Base lapse rates vary by contract-level factors, such as product type, surrender charge schedule and optional benefits election. Lapse rates are further

Deferred Acquisition Costs and

Deferred Acquisition Costs and Deferred Sales Inducements	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Deferred Acquisition Costs and Deferred Sales Inducements	Deferred Acquisition Costs and Deferred Sales Inducements Deferred Acquisition Costs Under current accounting guidance, certain costs that are directly related to the successful acquisition of new or renewal insurance business are capitalized as deferred acquisition costs ("DAC"). These costs primarily pertain to commissions and certain costs associated with policy issuance and underwriting. All other acquisition costs are expensed as incurred. DAC are increased by interest thereon and amortized into income in proportion to anticipated premium revenues for traditional life policies and in proportion to estimated gross profits, including net gains (losses) on derivatives and investments, for annuities and interest-sensitive life products. Due to volatility of certain factors that affect gross profits, including net gains (losses) on derivatives and investments, amortization may be a benefit or a charge in any given period. In the event of negative amortization, the related DAC balance is capped at the initial amount capitalized, plus interest. Unamortized DAC are written off when a contract is internally replaced and substantially changed. DAC is reviewed periodically to ensure that the unamortized portion does not exceed the expected recoverable amounts. The Company’s accounting policy includes reinsurance balances when evaluating recoverability of DAC. Any amount deemed unrecoverable is written off with a charge through DAC amortization. Other than the amounts related to the Athene Reinsurance Transaction in 2020 noted below, no such write-offs were required for 2022 and 2021. As available-for-sale debt securities are carried at fair value, an adjustment is made to DAC equal to the change in amortization that would have occurred if such securities had been sold at their stated fair value and the proceeds reinvested at current yields. This adjustment, along with the change in net unrealized gains (losses) on available-for-sale debt securities, net of applicable tax, is credited or charged directly to equity as a component of other comprehensive income. At December 31, 2022 and 2021, DAC increased by $229 million and decreased by $63 million, respectively, to reflect this adjustment. For variable annuity business, the Company employs a mean reversion methodology that is applied with the objective of adjusting the amortization of DAC that would otherwise be highly volatile due to fluctuations in the level of future gross profits arising from changes in equity market levels. The mean reversion methodology achieves this objective by applying a dynamic adjustment to the assumption for short-term future investment returns. Under this methodology, the projected returns for the next five years are set such that, when combined with the actual returns for the current and preceding two years, the average rate of return over the eight-year period is 7.15% for 2022 and 2021, after external investment management fees. The mean reversion methodology does, however, include a cap and a floor of 15% and 0% per annum, respectively, on the projected return for each of the next five years. At December 31, 2022 and 2021, projected returns under mean reversion were within the range bound by the 15% cap and 0% floor. At both December 31, 2022 and 2021, projected returns after the next five years were set at 7.15%. The Company evaluated the recoverability of previously established DAC assets in accordance with ASC 944-30-35-22. The Company determined it was appropriate to immediately write-off the remaining DAC on the business reinsured to Athene as no future profits will be recognized on this business at this aggregated level of recoverability testing. Accordingly, amortization of DAC for the year ended December 31, 2020 included a write-off of $626 million, related to the blocks of fixed and fixed-index annuity business, as a result of the Athene Reinsurance Transaction (see Note 8 to Consolidated Financial Statements for a description of the Athene Reinsurance Transaction). The balances of, and changes, in deferred acquisition costs were as follows (in millions): . Years Ended December 31, 2022 2021 2020 Balance, beginning of period $ 14,249 $ 13,897 $ 12,337 Deferrals of acquisition costs 624 790 738 Amortization (1,743) (520) 533 Unrealized investment (gains) losses 292 82 289 Balance, end of period 13,422 14,249 13,897 Actuarial Assumption Changes (Unlocking) Annually, or as circumstances warrant, the Company conducts a comprehensive review of the assumptions used for its estimates of future gross profits underlying the amortization of DAC and deferred sales inducements ("DSI"), as well as the valuation of the embedded derivatives and reserves for life insurance and annuity products with living benefit and death benefit guarantees. These assumptions include, but may not be limited to, policyholder behavior, mortality rates, expenses, projected hedging costs, investment returns and policy crediting rates. Based on this review, the cumulative balances of DAC, DSI and life and annuity guaranteed benefit reserves are adjusted with a corresponding benefit or charge to net income. Deferred Sales Inducements Certain sales inducement costs that are directly related to the successful acquisition of new or renewal insurance business are capitalized as DSI. Bonus interest on deferred fixed annuities and contract enhancements on fixed index annuities and variable annuities are capitalized as DSI and included in other assets. DSI are increased by interest thereon and amortized into income in proportion to estimated gross profits, including net gains (losses) on derivatives and investments. DSI are reviewed periodically to ensure that the unamortized portion does not exceed the expected recoverable amounts. Any amount deemed unrecoverable is written off with a charge through DSI amortization. Other than the amounts related to the Athene Reinsurance Transaction in 2020 noted below, no such write-offs were required for 2022, 2021, and 2020. The Company evaluated the recoverability of previously established DAC and DSI assets in accordance with ASC 944-30-35-22. The Company determined it was appropriate to immediately write-off the remaining DAC and DSI costs on the business reinsured to Athene as no future profits will be recognized on this business at this aggregated level of recoverability testing. Accordingly, amortization of DSI costs for the year ended December 31, 2020, included a write-off of $138 million, related to the blocks of fixed and fixed-index annuity business, as a result of the Athene Reinsurance Transaction. The balances of and changes in deferred sales inducements, which are reported in other assets, were as follows (in millions): Years Ended December 31, 2022 2021 2020 Balance, beginning of year $ 77 $ 77 $ 140 Deferrals of sales inducements 4 2 1 Amortization (4) (3) (152) Unrealized investment losses (gains) 2 1 88 Balance, end of year 79 77 77

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Reinsurance	Reinsurance The Company assumes and cedes reinsurance from and to other insurance companies to limit losses from large exposures. However, if the reinsurer is unable to meet its obligations, the originating issuer of the coverage retains the liability. The Company reinsures certain of its risks to other reinsurers under a coinsurance, modified coinsurance, or yearly renewable term basis. The Company regularly monitors the financial strength ratings of its reinsurers. The Company has also acquired certain lines of business that are wholly ceded to non-affiliates. These include both direct and assumed accident and health business, direct and assumed life insurance business, and certain institutional annuities. The Company’s GMIBs are reinsured with an unrelated party and due to the net settlement provisions of the reinsurance agreement, meet the definition of a derivative. Accordingly, the GMIB reinsurance agreement is recorded at fair value on the Company’s Consolidated Balance Sheets, with changes in fair value recorded in net gains (losses) on derivatives and investments. GMIB reinsured benefits are subject to aggregate annual claim limits. Deductibles also apply on reinsurance of GMIB business issued since March 1, 2005. The Company discontinued offering the GMIB in 2009. At December 31, 2022 and 2021, the Company had an ACL of $15 million and $12 million, respectively, on its reinsurance recoverables, which are reported net of ACL on the Consolidated Balance Sheets. The ACL considers the credit quality of the reinsurer and is generally determined based on probability of default and loss given default assumptions, after considering any applicable collateral arrangements. Additions to or releases of the allowance were reported in death, other policyholder benefits, and changes in reserves, net of deferrals in the Consolidated Income Statements. Reinsurance and Funds Withheld Payable Under Reinsurance Treaties Ceded reinsurance agreements are reported on a gross basis on the Company’s Consolidated Balance Sheets as an asset for amounts recoverable from reinsurers or as a component of other assets or liabilities for amounts, such as premiums, owed to or due from reinsurers. Reinsurance assumed and ceded premiums and benefits paid or provided are accounted for on bases consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. Premium income and benefit expenses are reported net of reinsurance assumed and ceded. Athene Reinsurance The Company entered into a funds withheld coinsurance agreement with Athene effective June 1, 2020 to reinsure on 100% quota share basis, a block of Jackson’s in-force fixed and fixed-index annuity product liabilities in exchange for a $1.2 billion ceding commission (the "Athene Reinsurance Agreement"). The Athene Reinsurance Agreement required Jackson to establish a segregated account in which the investments supporting the ceded obligations are maintained. While the economic benefits of the investments flow to Athene, Jackson retains physical possession and legal ownership of the investments supporting the reserve. Upon closing of the transaction, Jackson placed investments into the segregated account with a statutory book value of $25.6 billion. The investments maintained in the segregated account are valued at statutory carrying value for purposes of determining periodic settlement amounts under the Athene Reinsurance Agreement. Further, the investments in the segregated account are not available to settle any policyholder obligations other than those specifically covered by the Athene Reinsurance Agreement and are not available to settle obligations to general creditors of Jackson. The profit and loss with respect to obligations ceded to Athene are included in periodic net settlements pursuant to the Athene Reinsurance Agreement. To further support its obligations under the Athene Reinsurance Agreement, Athene procured $1.2 billion in letters of credit for Jackson’s benefit and established a trust account for Jackson’s benefit, which had a book value of approximately $212 million at December 31, 2022. As a result of this transaction, the Company evaluated the recoverability of previously established deferred acquisition costs, deferred sales inducement assets, and of cost of reinsurance assets in accordance with ASC 944-30-35-22. The Company’s accounting policy includes reinsurance balances when evaluating recoverability of DAC and DSI. Accordingly, the Company determined it was appropriate to immediately write-off the remaining DAC, DSI and the cost of reinsurance on the business reinsured to Athene as no future profits will be recognized on this business at this aggregated level of recoverability testing. The following table summarizes the impact of the Athene Reinsurance Transaction on the Consolidated Income Statements (in millions): December 31, 2020 Contractual ceding commission $ 1,202 Cost of reinsurance write-off (1) (2,520) DAC and DSI write-off (764) Total pretax loss on Athene Reinsurance Transaction $ (2,082) (1) Cost of reinsurance reflects the net impact of the fair value of assets of $30.1 billion and ceded reserves of $27.6 billion. Pursuant to the Athene Reinsurance Agreement, the Company holds certain assets as collateral. At December 31, 2022 and 2021, assets held as collateral in the segregated custody account were $19.4 billion and $25.4 billion, respectively. Swiss Re Reinsurance The Company has three retrocession reinsurance agreements (“retro treaties”) with Swiss Reinsurance Company Ltd. (“SRZ”). Pursuant to these retro treaties, the Company ceded certain blocks of business to SRZ on a 100% coinsurance basis, subject to pre-existing reinsurance with other parties. As a result, the Company holds certain assets, primarily in the form of policy loans and debt securities, as collateral for the reinsurance recoverable. Investment income and net gains (losses) on derivatives and investments earned on assets held as collateral are paid by the Company to the reinsurer, pursuant to the terms of the agreements. Investment income and net gains (losses) on derivatives and investments are reported net of net gains (losses) on derivatives and investments on funds withheld payable under reinsurance treaties, with no net impact on the Company’s Consolidated Income Statements. The Company elected the fair value option for assets which are held as collateral for reinsurance, as well as the related established funds withheld payable as further described below. The value of the funds withheld payable is equal to the fair value of the assets held as collateral. The income credited to reinsurers on the funds withheld payable for the reinsurance agreements is based on the income earned on those assets, which results in an embedded derivative (total return swap). However, for the funds withheld payable, the changes in fair value reported in net gains (losses) on derivatives and investments. Accordingly, the embedded derivative is not bifurcated or separately valued. The following assets and liabilities were held in support of reserves associated with the Company’s funds withheld reinsurance agreements and were reported in the respective financial statement line items in the Consolidated Balance Sheets (in millions): December 31, 2022 2021 Assets Debt securities, available-for-sale $ 13,622 $ 19,094 Debt securities, at fair value under the fair value option 159 164 Equity securities 77 116 Mortgage loans 4,127 4,739 Mortgage loans, at fair value under the fair value option 582 — Policy loans 3,435 3,483 Freestanding derivative instruments, net 78 37 Other invested assets 793 715 Cash and cash equivalents 260 438 Accrued investment income 166 162 Other assets and liabilities, net (73) (56) Total assets (1) $ 23,226 $ 28,892 Liabilities Funds held under reinsurance treaties (2) $ 22,957 $ 29,007 Total liabilities $ 22,957 $ 29,007 (1) Certain assets are reported at amortized cost while the fair value of those assets is reported in the embedded derivative in the funds withheld liability. (2) Includes funds withheld embedded derivative asset (liability) of $3,158 million and $(120) million at December 31, 2022 and 2021, respectively. The sources of income related to funds withheld under reinsurance treaties reported in net investment income in the Consolidated Income Statements were as follows (in millions): Years Ended December 31, 2022 2021 2020 Debt securities (1) $ 680 $ 762 $ 490 Equity securities (34) 5 2 Mortgage loans (2) 231 179 51 Policy loans 312 314 315 Limited partnerships 149 35 — Other investment income 1 — — Total investment income on funds withheld assets 1,339 1,295 858 Other investment expenses on funds withheld assets (3) (85) (107) (66) Total net investment income on funds withheld reinsurance treaties $ 1,254 $ 1,188 $ 792 (1) Includes $(10) million, $(3) million, and $2 million for the years ended December 31, 2022, 2021 and 2020, respectively, related to the change in fair value for securities carried under the fair value option. (2) Includes $(7) million for the year ended December 31, 2022, and nil for the years ended December 31, 2021 and 2020 respectively, related to the change in fair value for mortgage loans carried under the fair value option. (3) Includes management fees. The gains and losses on funds withheld reinsurance treaties as a component of net gains (losses) on derivatives and investments in the Consolidated Income Statements were as follows (in millions): Years Ended December 31, 2022 2021 2020 Available-for-sale securities Realized gains on sale $ 43 $ 536 $ 2,074 Realized losses on sale (54) (52) (12) Credit loss expense (26) (1) — Gross impairments — — (2) Credit loss expense on mortgage loans 15 23 (47) Other (62) (29) 4 Net gains (losses) on non-derivative investments (84) 477 2,017 Net gains (losses) on derivative instruments 93 58 (228) Net gains (losses) on funds withheld payable under reinsurance treaties (1) 2,177 (556) (1,349) Total net gains (losses) on derivatives and investments $ 2,186 $ (21) $ 440 (1) Includes the Athene Embedded Derivative gain (loss) of $3,278 million, $707 million, and $(827) million for the years ended December 31, 2022, 2021 and 2020, respectively. While the economic benefits of the funds withheld assets flow to the respective reinsurers, Jackson retains physical possession and legal ownership of the investments supporting the reserves. Net investment income and net gains (losses) on derivatives and investments related to the funds withheld assets are included in periodic settlements under the reinsurance agreements which results in the flow of returns on the assets to the reinsurers. Net gains (losses) on the funds withheld assets are increased or decreased by changes in the embedded derivative liability related to the Athene Reinsurance Agreement and include (i) changes in the related funds withheld payable and (ii) amortization of the basis difference between book value and fair value of the investments as of the effective date of the reinsurance agreements. The effect of reinsurance on premiums and benefits was as follows (in millions): Years Ended December 31, 2022 2021 2020 Premiums Direct $ 360 $ 407 $ 336 Assumed 40 42 47 Ceded (268) (301) (196) Total premium $ 132 $ 148 $ 187 Benefits Direct $ 1,692 $ 1,488 $ 1,611 Assumed 866 876 749 Ceded (922) (863) (666) Change in reserves, net of reinsurance 654 (531) (332) Total benefits $ 2,290 $ 970 $ 1,362 Components of the Company’s reinsurance recoverable were as follows (in millions): December 31, 2022 2021 Reserves: Life $ 5,641 $ 5,829 Accident and health 523 547 Guaranteed minimum income benefits 170 262 Other annuity benefits (1) 22,487 25,625 Claims liability and other 820 863 Total $ 29,641 $ 33,126 (1)

Reserves for Future Policy Bene

Reserves for Future Policy Benefits and Claims Payable and Other Contract Holder Funds	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Reserves for Future Policy Benefits and Claims Payable and Other Contract Holder Funds	Reserves for Future Policy Benefits and Claims Payable and Other Contract Holder Funds For traditional life insurance contracts, which include term and whole life, reserves for future policy benefits are determined using the net level premium method and assumptions as of the issue date or acquisition date as to mortality, interest, lapse and expenses, plus provisions for adverse deviations. These assumptions are not unlocked unless the reserve is determined to be deficient. Interest rate assumptions range from 2.5% to 6.0%. Lapse, mortality, and expense assumptions for recoverability are based primarily on Company experience. The Company’s liability for future policy benefits also includes net liabilities for guaranteed benefits related to certain nontraditional long-duration life and annuity contracts, which are further discussed in Note 10. Group payout annuities consist of a closed block of defined benefit annuity plans. The liability for future benefits for these limited payment contracts is calculated using assumptions as of the acquisition date as to mortality and expense plus provisions for adverse deviation. In conjunction with a prior acquisition, the Company recorded a fair value adjustment at acquisition related to certain annuity and interest sensitive liability blocks of business to reflect the cost of the interest guarantees within the in-force liabilities, based on the difference between the guaranteed interest rate and an assumed new money guaranteed interest rate at acquisition. This adjustment was recorded in reserves for future policy benefits and claims payable. This reserve is reassessed at the end of each period, taking into account changes in the in-force block. Any resulting change in the reserve is recorded as a change in policy reserve through the Consolidated Income Statements. The following table sets forth the Company’s reserves for future policy benefits and claims payable balances (in millions): December 31, 2022 2021 Traditional life $ 3,951 $ 4,262 Guaranteed benefits (1) 1,779 5,477 Claims payable 1,033 1,050 Accident and health 1,164 1,204 Group payout annuities 4,586 4,895 Life contingent payouts 1,158 1,152 Other 602 627 Total $ 14,273 $ 18,667 (1) Includes net embedded derivative (assets) liabilities related to the GMWB and liabilities related to GMDB. The following table sets forth the Company’s liabilities for other contract holder funds balances (in millions): December 31, 2022 2021 Interest-sensitive life $ 11,197 $ 11,553 Variable annuity fixed option 10,578 9,751 RILA (1) 1,875 110 Fixed annuity 13,410 14,960 Fixed index annuity (2) 11,937 13,333 GICs, funding agreements and FHLB advances 9,019 8,830 Other 179 189 Total $ 58,195 $ 58,726 (1) Includes the embedded derivative liabilities related to RILA of $205 million and $6 million at December 31, 2022 and 2021, respectively. (2) Includes the embedded derivative liabilities related to fixed index annuity of $931 million and $1,439 million at December 31, 2022 and 2021, respectively. For interest-sensitive life contracts, liabilities approximate the policyholder’s account value, plus the remaining balance of the fair value adjustment related to previously acquired business, which is further discussed below. The liability for fixed index annuities and registered index linked annuities is based on three components, 1) the imputed value of the underlying guaranteed host contract, 2) the fair value of the embedded option component of the contract, and 3) the liability for guaranteed benefits related to the optional lifetime income rider. For fixed annuities, variable annuity fixed option, and other investment contracts, as included in the above table, the liability is the account value, plus the unamortized balance of the fair value adjustment related to previously acquired business. For payout annuities, as included in the above table, reserves are determined under the methodology for limited-payment contracts (for those with significant life contingencies) or using a constant yield method and assumptions as of the issue date for mortality, interest rates, lapse and expenses plus provisions for adverse deviations. At December 31, 2022, the Company had interest sensitive life business with minimum guaranteed interest rates ranging from 2.5% to 6.0% with a 4.68% average guaranteed rate and fixed interest rate annuities with minimum guaranteed rates ranging from 1.0% to 5.5% and a 1.93% average guaranteed rate. At December 31, 2022 and 2021, excluding the reinsured business, approximately 93% and 94%, respectively, of the Company’s annuity account values correspond to crediting rates that are at the minimum guaranteed interest rates. The following tables show the distribution of those annuity account values within the presented ranges of minimum guaranteed interest rates (in millions): December 31, 2022 Minimum Account Value Fixed Fixed Index RILA Variable Total 1.0% $ 333 $ 399 $ 17 $ 6,775 $ 7,524 >1.0% - 2.0% 50 — — 207 257 >2.0% - 3.0% 1,050 165 — 3,277 4,492 >3.0% - 4.0% 565 — — — 565 >4.0% - 5.0% 270 — — — 270 >5.0% - 5.5% 71 — — — 71 Subtotal 2,339 564 17 10,259 13,179 Ceded reinsurance 10,476 11,373 — — 21,849 Total $ 12,815 $ 11,937 $ 17 $ 10,259 $ 35,028 December 31, 2021 Minimum Account Value Fixed Fixed Index RILA Variable Total 1.0% $ 156 $ 279 $ 1 $ 5,988 $ 6,424 >1.0% - 2.0% 57 1 — 214 272 >2.0% - 3.0% 1,113 183 — 3,254 4,550 >3.0% - 4.0% 594 — — — 594 >4.0% - 5.0% 276 — — — 276 >5.0% - 5.5% 72 — — — 72 Subtotal 2,268 463 1 9,456 12,188 Ceded reinsurance 12,086 12,870 — — 24,956 Total $ 14,354 $ 13,333 $ 1 $ 9,456 $ 37,144 At both December 31, 2022 and 2021, approximately 80% of the Company’s interest sensitive life business account values correspond to crediting rates that are at the minimum guaranteed interest rates. The following table shows the distribution of the interest sensitive life business account values within the presented ranges of minimum guaranteed interest rates, excluding the business that is subject to the previously mentioned retro treaties (in millions): December 31, Minimum 2022 2021 Account Value - Interest Sensitive Life >2.0% - 3.0% $ 241 $ 252 >3.0% - 4.0% 2,632 2,736 >4.0% - 5.0% 2,294 2,381 >5.0% - 6.0% 1,883 1,962 Subtotal 7,050 7,331 Retro treaties 4,147 4,222 Total $ 11,197 $ 11,553 The Company has established a $27 billion aggregate Global Medium Term Note ("MTN") program. Jackson National Life Global Funding was formed as a statutory business trust, solely for the purpose of issuing Medium Term Note instruments to institutional investors, the proceeds of which are deposited with the Company and secured by the issuance of funding agreements. The carrying values at December 31, 2022 and 2021 totaled $5.9 billion and $6.0 billion, respectively. Those Medium-Term Note instruments issued in a foreign currency have been hedged for changes in exchange rates using cross-currency swaps. The unrealized foreign currency gains and losses on those Medium-Term Note instruments are included in the carrying value of the trust instruments supported by funding agreements. Trust instrument liabilities are adjusted to reflect the effects of foreign currency translation gains and losses using exchange rates as of the reporting date. Foreign currency translation gains and losses are included in net gains (losses) on derivatives and investments. Jackson is a member of the FHLBI primarily for the purpose of participating in the bank’s mortgage-collateralized loan advance program with long-term funding facilities. Advances are in the form of long-term notes or funding agreements issued to FHLBI. At December 31, 2022 and 2021, the Company held $146 million and $125 million of FHLBI capital stock, respectively, supporting $2.1 billion and $2.0 billion in funding agreements and long-term borrowings at December 31, 2022 and 2021, respectively. The Company’s institutional products business is comprised of the traditional guaranteed investment contracts, medium-term funding agreement-backed notes and funding agreements (including agreements issued in conjunction with the Company’s participation in the U.S. Federal Home Loan Bank ("FHLB") program) described above.

Certain Nontraditional Long-Dur

Certain Nontraditional Long-Duration Contracts and Variable Annuity Guarantees	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Certain Nontraditional Long-Duration Contracts and Variable Annuity Guarantees	Certain Non-traditional Long-Duration Contracts and Variable Annuity Guarantees Variable Annuity Guarantees Variable annuity contracts issued by the Company offer various guaranteed minimum death, withdrawal, income and accumulation benefits. Certain benefits, including non-life contingent components of guaranteed minimum withdrawal benefits (“GMWB”) and guaranteed minimum withdrawal benefits for life (“GMWB for Life”), guaranteed minimum accumulation benefits (“GMAB”) and the reinsurance recoverable on the Company’s guaranteed minimum income benefits (“GMIB”), are recorded at fair value. Guaranteed benefits that are not subject to fair value accounting are accounted for as insurance benefits. Variable annuity embedded derivatives are carried at fair value on the Company’s balance sheet as a component of reserves for future policy benefits and claims payable. The Company discontinued offering the GMIB in 2009 and GMAB in 2011. The non-life contingent component of GMWB and GMWB for Life contracts consists of those guaranteed withdrawal amounts paid to the contract holder in excess of the account value of the contract, up to the amount of the living benefit base. Withdrawal amounts paid to the contract holder in excess of the living benefit base are considered life contingent and are accounted for as insurance benefits. GMABs and non-life contingent components of GMWB and GMWB for Life contracts are recorded at fair value with changes in fair value recorded in net gains (losses) on derivatives and investments. The fair value of the reserve is based on the expectations of future benefit payments and certain future fees associated with the benefits. At the inception of the contract, the Company attributes to the embedded derivative a portion of rider fees collected from the contract holder, which is then held static in future valuations. Those fees, generally referred to as the attributed fees, are set such that the present value of the attributed fees is equal to the present value of future claims expected to be paid under the guaranteed benefit at the inception of the contract. In subsequent valuations, both the present value of future benefits and the present value of attributed fees are revalued based on current market conditions and policyholder behavior assumptions. The difference between each of the two components represents the fair value of the embedded derivative. Thus, when unfavorable equity market movements cause declines in the contract holder’s account value relative to the guarantee benefit, the valuation of future expected claims would generally increase relative to the measurement performed at the inception of the contract, resulting in an increase in the fair value of the embedded derivative liability (and vice versa). Fair values for GMWB, GMWB for Life, and GMAB embedded derivatives, as well as GMIB reinsurance recoverables, are calculated using internally developed models because active, observable markets do not exist for those guaranteed benefits. The fair value calculation is based on the present value of future cash flows comprised of future expected benefit payments, less future attributed rider fees, over the lives of the contracts. Estimating these cash flows requires numerous estimates and subjective judgments related to capital market inputs, as well as actuarially determined assumptions related to expectations regarding policyholder behavior. Capital market inputs include expected market rates of return, market volatility, correlations of market index returns to funds, fund performance and discount rates. The more significant actuarial assumptions include benefit utilization by policyholders, lapse, mortality, and withdrawal rates. Best estimate assumptions plus risk margins are used as applicable. At each valuation date, the fair value calculation reflects expected returns based on constant maturity treasury rates as of that date to determine the value of expected future cash flows produced in a stochastic process. Volatility assumptions are based on available market data for implied market volatility for durations up to 10 years, grading to a historical volatility level by year 15, where such long-term historical volatility levels contain an explicit risk margin. Risk margins are also incorporated into the model assumptions, particularly for policyholder behavior. Estimates of future policyholder behavior are subjective and are based primarily on the Company’s experience. The fair value of a liability reflects the effect of nonperformance risk. Nonperformance risk includes, but may not be limited to, a reporting entity’s own credit risk. Non-performance risk is incorporated into the calculation through the adjustment of the risk-free rate curve based on spreads indicated by a blend of yields on similarly-rated peer debt and yields on JFI debt (adjusted to operating company levels). As markets change, mature and evolve and actual policyholder behavior emerges, management regularly evaluates the appropriateness of its assumptions for this component of the fair value model. The use of the models and assumptions described above requires a significant amount of judgment. Management believes the aggregation of each of these components results in an amount that the Company would be required to transfer for a liability, or receive for an asset, to or from a willing buyer or seller, if one existed, for those market participants to assume the risks associated with the guaranteed benefits and the related reinsurance. However, the ultimate settlement amount of the asset or liability, which is currently unknown, could be significantly different than this fair value. The Company issues variable contracts through its separate accounts for which investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contract holder (“traditional variable annuities”). The Company also issues variable annuity and life contracts through separate accounts where the Company contractually guarantees to the contract holder (“variable contracts with guarantees”) either a) return of no less than total deposits made to the account adjusted for any partial withdrawals, b) total deposits made to the account adjusted for any partial withdrawals plus a minimum return, or c) the highest account value on a specified anniversary date adjusted for any withdrawals following the contract anniversary. These guarantees include benefits that are payable in the event of death (guaranteed minimum death benefits, or "GMDB"), at annuitization (GMIB), upon the depletion of funds (GMWB) or at the end of a specified period (GMAB). The assets supporting the variable portion of both traditional variable annuities and variable contracts with guarantees are carried at fair value and reported as summary total separate account assets with an equivalent summary total reported for separate account liabilities. Liabilities for guaranteed benefits, including net embedded derivatives, are general account obligations and are reported in reserves for future policy benefits and claims payable. Amounts assessed against the contract holders for mortality, administrative, and other services are reported in revenue as fee income. Changes in liabilities for minimum guarantees are reported within death, other policy benefits and change in policy reserves within the Consolidated Income Statements with the exception of changes in embedded derivatives, which are included in net gains (losses) on derivatives and investments. Separate account net investment income, net investment realized and unrealized gains and losses, and the related liability changes are offset within the same line item in the Consolidated Income Statements. Fixed Index Annuities The equity-linked option associated with fixed index annuities issued by the Company is accounted for at fair value as an embedded derivative on the Company’s Consolidated Balance Sheets as a component of other contract holder funds, with changes in fair value recorded in net income. The fair value is determined using an option-budget method with capital market inputs of market index returns and discount rates as well as actuarial assumptions including lapse, mortality and withdrawal rates. Thus, favorable equity market movements cause increases in future contract holder benefits, resulting in an increase in the fair value of the embedded derivative liability (and vice versa). The Company also establishes a host contract reserve to support the underlying guaranteed account value growth. This host reserve is a component of other contract holder funds on the Company’s Consolidated Balance Sheets. In addition, longevity riders may be issued on fixed index annuities. The benefits for these riders are accounted for as insurance benefits similarly to the life-contingent variable annuity guaranteed benefits described above, and are a component of reserves for future policy benefits and claims payable on the Company’s Consolidated Balance Sheets. RILA The equity-linked option associated with registered index linked annuities issued by the Company is accounted for at fair value as an embedded derivative on the Company’s Consolidated Balance Sheets as a component of other contract holder funds, with changes in fair value recorded in net income. The fair value is determined using an option-budget method with capital market inputs of market index returns and discount rates as well as actuarial assumptions including lapse, mortality and withdrawal rates. Thus, favorable equity market movements cause increases in future contract holder benefits, resulting in an increase in the fair value of the embedded derivative liability (and vice versa). The Company also establishes a host contract reserve to support the associated account value growth and policyholder benefits. This host reserve is a component of other contract holder funds on the Company’s Consolidated Balance Sheets. Separate Account Assets and Liabilities The Company maintains separate account assets, which are reported at fair value. The related liabilities are reported at an amount equivalent to the separate account assets. At December 31, 2022 and 2021, the assets and liabilities associated with variable life and annuity contracts were $196 billion and $249 billion, respectively. Investment risks associated with market value changes are borne by the contract holders, except to the extent of minimum guarantees made by the Company. Separate account net investment income, net investment realized and unrealized gains and losses, and the related liability changes are offset within the same line item in the Consolidated Income Statements. Amounts assessed against the contract holders for mortality, variable annuity benefit guarantees, administrative, and other services are reported in revenue as fee income. Included in the assets and liabilities described above is a Jackson issued group variable annuity contract designed for use in connection with and issued to the Company’s Defined Contribution Retirement Plan. These deposits are allocated to the Jackson National Separate Account – II, which had balances of $284 million and $390 million at December 31, 2022 and 2021, respectively. The Company receives administrative fees for managing the funds. These fees are recorded as earned and included in fee income in the Consolidated Income Statements. At December 31, 2022 and 2021, the Company provided variable annuity contracts with guarantees, for which the net amount at risk is defined as the amount of guaranteed benefit in excess of current account value, as follows (dollars in millions): Minimum Return Account Net Amount at Risk Weighted Average Attained Age Average Period until Expected Annuitization December 31, 2022 Return of net deposits plus a minimum return GMDB 0-6% $ 152,267 $ 8,812 69.3 years GMWB - Premium only 0% 2,123 58 GMWB 0-5%* 169 14 Highest specified anniversary account value minus withdrawals post-anniversary GMDB 11,255 2,406 70.5 years GMWB - Highest anniversary only 2,992 559 GMWB 889 127 Combination net deposits plus minimum return, highest specified anniversary account value minus withdrawals post-anniversary GMDB 0-6% 7,677 2,309 72.3 years GMIB 0-6% 1,209 752 0.5 years GMWB 0-8%* 142,361 41,148 Weighted Average Attained Age Average Period until Expected Annuitization Minimum Return Account Net Amount at Risk December 31, 2021 Return of net deposits plus a minimum return GMDB 0-6% $ 194,060 $ 2,124 68.7 years GMWB - Premium only 0% 2,937 7 GMWB 0-5%* 245 8 Highest specified anniversary account value minus withdrawals post-anniversary GMDB 14,806 93 69.8 years GMWB - Highest anniversary only 3,919 33 GMWB 643 44 Combination net deposits plus minimum return, highest specified anniversary account value minus withdrawals post-anniversary GMDB 0-6% 9,896 522 71.9 years GMIB 0-6% 1,662 463 0.5 years GMWB 0-8%* 181,457 4,295 * Ranges shown based on simple interest. The upper limits of 5% or 8% simple interest are approximately equal to 4.1% and 6.0%, respectively, on a compound interest basis over a typical 10-year bonus period. The combination GMWB category also includes benefits with a defined increase in the withdrawal percentage under pre-defined non-market conditions. Amounts shown as GMWB above include a ‘not-for-life’ component up to the point at which the guaranteed withdrawal benefit is exhausted, after which benefits paid are considered ‘for-life’ benefits. The ‘not-for-life’ portion is valued as an embedded derivative, while the ‘for-life’ benefits are valued as an insurance liability (see below). For this table, the net amount at risk of the ‘not-for-life’ component is the undiscounted excess of the guaranteed withdrawal benefit over the account value, and that of the ‘for-life’ component is the estimated value of additional life contingent benefits paid after the guaranteed withdrawal benefit is exhausted. Account balances of contracts with guarantees were invested in variable separate accounts as follows (in millions): December 31, 2022 2021 Fund type: Equity $ 118,858 $ 154,368 Bond 16,047 20,207 Balanced 34,693 43,185 Money market 2,243 1,564 Total $ 171,841 $ 219,324 GMDB liabilities reflected in the general account were as follows (in millions): December 31, 2022 2021 Balance as of beginning of period $ 1,370 $ 1,418 Incurred guaranteed benefits 1,058 55 Paid guaranteed benefits (219) (103) Balance as of end of period $ 2,209 $ 1,370 The GMDB liability is determined by estimating the expected value of death benefits in excess of the projected account balance and recognizing the excess ratably over the accumulation period based on total expected assessments. The Company regularly evaluates estimates used and adjusts the liability balance through the Consolidated Income Statements, within death, other policy benefits and change in policy reserves, if actual experience or other evidence suggests that earlier assumptions should be revised. The following assumptions and methodology were used to determine the GMDB liability at both December 31, 2022 and 2021 (except where otherwise noted): • Use of a series of stochastic investment performance scenarios, based on historical average market volatility. • Mean investment performance assumption of 7.15%, after investment management fees, but before external investment advisory fees and mortality and expense charges. • Mortality equal to 40% to 100% of the 2012 Individual Annuity Mortality basic table improved using Scale G through 2019. • Lapse rates varying by contract type, duration and degree the benefit is in-the-money and ranging from 0.3% to 27.9% (before application of dynamic adjustments). • Discount rates: 7.15% on 2020 and later issues, 7.4% on 2013 through 2019 issues, 8.4% on 2012 and prior issues. Most GMWB reserves are considered derivatives under current accounting guidance and are recognized at fair value, as previously defined, with the change in fair value reported in net income (as net gains (losses) on derivatives and investments). The fair value of these embedded derivatives is determined using stochastic modeling and inputs as further described in Note 6. The GMWB net embedded derivative (asset) liability of $(2,154) million and $2,626 million at December 31, 2022 and 2021, respectively, and was reported in reserves for future policy benefits and claims payable. The Company has also issued certain GMWB products that guarantee payments over a lifetime. Reserves for the portion of these benefits after the point where the guaranteed withdrawal balance is exhausted are calculated using assumptions and methodology similar to the GMDB liability. At December 31, 2022 and 2021, these GMWB reserves totaled $441 million and $196 million, respectively, and were reported in reserves for future policy benefits and claims payable. GMAB benefits were offered on some variable annuity products. However, the Company no longer offers these benefits and all have expired as of June 30, 2021. The direct GMIB liability is determined at each period end by estimating the expected value of the annuitization benefits in excess of the projected account balance at the date of annuitization and recognizing the excess ratably over the accumulation period based on total expected assessments. The assumptions used for calculating the direct GMIB liability are consistent with those used for calculating the GMDB liability. At December 31, 2022 and 2021, GMIB reserves before reinsurance totaled $142 million and $78 million, respectively. Other Liabilities – Insurance and Annuitization Benefits The Company has established additional reserves for life insurance business for universal life plans with secondary guarantees, interest-sensitive life plans that exhibit “profits followed by loss” patterns and account balance adjustments to tabular guaranteed cash values on one interest-sensitive life plan. Liabilities for these benefits, as established according to the methodologies described below, are as follows: December 31, 2022 December 31, 2021 Benefit Type Liability Net Amount Weighted Average Attained Age Liability Net Amount Weighted Average Attained Age Insurance benefits * $ 950 $ 17,427 64.6 years $ 943 $ 18,506 64.0 years Account balance adjustments 146 N/A N/A 141 N/A N/A * Amounts for the universal life benefits are for the total of the plans containing any policies having projected non-zero excess benefits, and thus may include some policies with zero projected excess benefits. The following assumptions and methodology were used to determine the universal life insurance benefit liability for the periods referenced in the table above: • Use of a series of deterministic premium persistency scenarios. • Other experience assumptions similar to those used in amortization of deferred acquisition costs. • Discount rates equal to credited interest rates, approximately 3.0% to 5.5% at both December 31, 2022 and 2021, respectively.

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Liabilities for the Company’s debt are primarily carried at an amount equal to the principal balance net of any unamortized original issuance discount or premium. Original issuance discount or premium and any debt issue costs, if applicable, are recognized as a component of interest expense over the period the debt is expected to be outstanding. The aggregate carrying value of long-term debt was as follows (in millions): December 31, 2022 2021 Long-Term Debt Senior Notes due 2023 $ 598 $ 596 Senior Notes due 2027 397 — Senior Notes due 2031 493 495 Senior Notes due 2032 347 — Senior Notes due 2051 488 490 Term loan due 2023 — 751 Surplus notes 250 250 FHLBI bank loans 62 67 Total long-term debt $ 2,635 $ 2,649 The following table presents the contractual maturities of the Company's long-term debt as of December 31, 2022: (in millions): Calendar Year 2023 2024 2025 2026 2027 and thereafter Total Long-term debt $ 598 $ — $ — $ — $ 2,037 $ 2,635 Senior Notes On June 8, 2022, the Company issued $750 million aggregate principal amount of its senior unsecured notes, consisting of $400 million aggregate principal amount of 5.170% Senior Notes due June 8, 2027, and $350 million aggregate principal amount of 5.670% Senior Notes due June 8, 2032. The net proceeds of these notes were used, together with cash on hand, to repay the Company’s $750 million aggregate principal senior unsecured amount term loan due February 2023 (the “2023 DDTL Facility”). On November 23, 2021, the Company issued $1.6 billion aggregate principal amount of its senior unsecured notes consisting of $600 million aggregate principal amount of 1.125% Senior Notes due November 22, 2023, $500 million aggregate principal amount of 3.125% Senior Notes due November 23, 2031, and $500 million aggregate principal amount of 4.000% Senior Notes due November 23, 2051. The proceeds of these notes were used, together with cash on hand, to repay the Company’s $1.6 billion aggregate principal amount senior unsecured term loan due May 2022 (the “2022 DDTL Facility”), as described below. Term Loans On February 22, 2021, the Company entered into a $1.7 billion 2022 DDTL Facility and a $1.0 billion 2023 DDTL Facility (the “DDTL Credit Facilities”) with a syndicate of banks. On September 10, 2021, the Company borrowed an aggregate principal amount of $2.4 billion under the DDTL Credit Facilities as follows: $1.6 billion under the 2022 DDTL Facility and $750 million under the 2023 DDTL Facility. The proceeds of those borrowings were used for general corporate purposes, including liquidity at the holding company and capitalization of the insurance subsidiaries. Under the terms of the DDTL Credit Facilities, subject to certain exceptions, 100% of the net cash proceeds from any subsequent debt issuance, preferred equity issuance or hybrid instrument issuance by the Company or its subsidiaries will be required to be applied (i) first to prepay the 2022 DDTL Facility and (ii) thereafter, to prepay the 2023 DDTL Facility. As noted above, both term loans have been retired through the application of the proceeds from senior unsecured notes and cash on hand. Revolving Credit Facility On February 22, 2021, the Company entered into loan facilities including a $1.0 billion revolving credit facility (the “2021 Revolving Credit Facility”) with a syndicate of banks. The 2021 Revolving Credit Facility provides liquidity backstop. At December 31, 2022, the Company has zero outstanding against the 2021 Revolving Credit Facility. On February 24, 2023, the Company replaced the 2021 Revolving Credit Facility that was due to expire in February 2024 and entered into a revolving credit facility (the "2023 Revolving Credit Facility") with a syndicate of banks and Bank of America, N.A., as Administrative Agent. The 2023 Revolving Credit Facility provides for borrowings for working capital and other general corporate purposes under aggregate commitments of $1.0 billion, with a sub-limit of $500 million available for letters of credit. The 2023 Revolving Credit Facility further provides for the ability to request, subject to customary terms and conditions, an increase in commitments thereunder by up to an additional $500 million. The credit agreement for the 2023 Revolving Credit Facility contains financial maintenance covenants, including a minimum adjusted consolidated net worth test of no less than 70% of our adjusted consolidated net worth as of September 30, 2022 (plus (to the extent positive) or minus (to the extent negative) 70% of the impact on such adjusted consolidated net worth resulting from the application of a one-time transition adjustment for the LDTI accounting change for insurance contracts, and plus 50% of the aggregate amount of any increase in adjusted consolidated net worth resulting from equity issuances by the Company and its consolidated subsidiaries after September 30, 2022), and a maximum consolidated indebtedness to total capitalization ratio test not to exceed 35%. Commitments under the 2023 Revolving Credit Facility terminate on February 24, 2028. Surplus Notes Under Michigan insurance law, for statutory reporting purposes, the surplus notes are not part of the legal liabilities of the Company and are considered surplus funds. Payments of interest or principal may only be made with the prior approval of the Michigan Director of Insurance and only out of surplus earnings which the director determines to be available for such payments under Michigan insurance law. On March 15, 1997, the Company, through its subsidiary, Jackson, issued 8.2% surplus notes in the principal amount of $250 million due March 15, 2027. These surplus notes were issued pursuant to Rule 144A under the Securities Act of 1933, as amended, and are unsecured and subordinated to all present and future indebtedness, policy claims and other creditor claims and may not be redeemed at the option of the Company or any holder prior to maturity. Interest is payable semi-annually on March 15th and September 15th of each year. Interest expense on the notes was $20 million, $20 million, and $21 million for the years ended December 31, 2022, 2021 and 2020, respectively. FHLB Loans The Company received loans of $50 million from the FHLBI under its community investment program in both 2015 and 2014, which amortize on a straight-line basis over the loan term. The weighted average interest rate on these loans was 1.7% and 0.1% for the years ended December 31, 2022 and 2021, respectively.

Federal Home Loan Bank Advances

Federal Home Loan Bank Advances	12 Months Ended
	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Federal Home Loan Bank Advances	Federal Home Loan Bank AdvancesThe Company, through its subsidiary, Jackson, entered into an advance program with the FHLBI in which interest rates were either fixed or variable based on the FHLBI cost of funds or market rates. Advances of nil were outstanding at both December 31, 2022 and 2021 and were recorded in other liabilities.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes U.S. Tax Law Changes On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (“IRA”) into law. The IRA includes a new Federal alternative minimum tax (“AMT”), effective in 2023, that is based on 15% of an applicable corporation’s "adjusted financial statement income" (“AFSI”). A corporation will be subject to the AMT if its average pre-tax AFSI over three prior years (starting with 2020-2022) is greater than $1 billion (an “applicable corporation”). Upon becoming an applicable corporation, an entity will remain so for all future years, except under limited circumstances. The corporation’s AMT liability is payable to the extent the AMT liability exceeds regular corporate income tax. However, any AMT paid would be indefinitely available as a credit carryover that could reduce future regular corporate income tax in excess of AMT. We believe that we will be an applicable corporation starting in 2023. That determination is based on interpretations and assumptions we have made regarding the AMT provisions of the IRA, which may change once regulatory guidance is issued. As of December 31, 2022, we have not recorded any provision for the AMT. The U.S. Department of the Treasury is expected to issue regulatory guidance throughout 2023. The IRA also creates a 1% excise tax on stock buybacks of publicly-traded U.S. corporations. Starting in 2023, such excise tax generally applies if a company repurchases in excess of $1 million worth of its stock in any given calendar year. The impact of this provision will be dependent on the extent of share repurchases made in future periods. Any excise tax incurred on corporate stock repurchases will generally be recognized as part of the cost basis of the treasury stock acquired and not reported as income tax expense. On March 27, 2020, H.R. 748, the Coronavirus Aid, Relief, and Economic Security Act, “the CARES ACT”, was signed into legislation. The CARES ACT includes tax provisions relevant to businesses that during 2020 impacted taxes related to 2018 and 2019. Some of the significant changes are reducing the interest expense disallowance for 2019 and 2020, allowing the five-year carryback of net operating losses for 2018-2020, suspension of the 80% limitation of taxable income for net operating loss carryforwards for 2018-2020, and the acceleration of depreciation expense from 2018 and forward on qualified improvement property. In 2020, the Company recognized a tax benefit of $16 million as a result of the CARES ACT. In addition, the Taxpayer Certainty & Disaster Tax Relief Act was enacted on December 27, 2020. There was no impact to taxes from this legislation in 2021 or 2020. Effective Tax Rate The components of the provision for federal, state and local income taxes were as follows (in millions): Years Ended December 31, 2022 2021 2020 Current tax expense (benefit) Federal $ (43) $ (71) $ (80) State and local 1 (2) 2 Total current tax expense (benefit) (42) (73) (78) Deferred tax expense (benefit) Federal 1,358 653 (703) State and local 55 22 (73) Total deferred tax expense (benefit) 1,413 675 (776) Total income taxes $ 1,371 $ 602 $ (854) The federal income tax provisions differ from the amounts determined by multiplying pretax income attributable to the Company by the statutory federal income tax rate of 21% as follows (in millions): Years Ended December 31, 2022 2021 2020 Income taxes at statutory rate $ 1,493 $ 795 $ (522) State income taxes (1) 44 15 (56) Dividends received deduction (142) (146) (158) Valuation allowance 2 — 1 U.S. federal tax reform impact (2) — — (16) Foreign and other tax credits (3) (24) (46) (61) Prior year deferred tax benefit — — (53) Other (4) (2) (16) 11 Income tax (benefit) expense $ 1,371 $ 602 $ (854) Effective tax rate 19.3 % 15.9 % 34.3 % (1) For the year ended December 31, 2020, includes a benefit of $33 million relating to prior periods. (2) For the year ended December 31, 2020, the benefit is the result of the CARES Act. (3) For the years ended December 31, 2022, 2021 and 2020, this primarily represents the benefit from foreign tax credits generated by the fund investments of the variable life and annuity contracts. (4) Aggregation of insignificant reconciling items that are less than 5% of the computed income tax expense (benefit). The dividends received deduction (“DRD”) reduces the amount of dividend income subject to tax. The DRD for the current period was estimated using information from 2021 and estimates of current year investments results. The actual current year DRD can vary based on factors including, changes in the amount of dividends received that are eligible for the DRD, changes in the amount of distributions received from fund investments, changes in the account balances of variable life and annuity contracts, and the Company’s taxable income before the DRD. Income Taxes Paid Income taxes paid (refunded) were $(5) million, $(403) million, and $4 million in 2022, 2021 and 2020, respectively. The income taxes refunded in 2021 include $(314) million of taxes and $(24) million of net interest related to the IRS audit that closed during 2021 and $(73) million of refunds from the overpayment of 2020 taxes in 2021. Deferred Taxes and Assessment of Valuation Allowance The tax effects of significant temporary differences that gave rise to deferred tax assets and liabilities were as follows (in millions): December 31, 2022 2021 Gross deferred tax asset Difference between financial reporting and the tax basis of: Policy reserves and other insurance items $ 1,837 $ 2,695 Employee benefits 165 181 Derivative investments 789 1,128 Net unrealized losses 1,297 — Net operating loss carryforward 587 306 Other 75 15 Total gross deferred tax asset 4,750 4,325 Valuation allowance (910) (2) Gross deferred tax asset, net of valuation allowance $ 3,840 $ 4,323 Gross deferred tax liability Difference between financial reporting and the tax basis of: Deferred acquisition costs and sales inducements $ (2,644) $ (2,873) Other investment items (781) (23) Net unrealized gains — (453) Other (30) (20) Total gross deferred tax liability (3,455) (3,369) Net deferred tax asset $ 385 $ 954 Deferred income taxes arise from the recognition of temporary differences between the basis of assets and liabilities determined for financial reporting purposes and the basis determined for income tax purposes. Such temporary differences are principally related to the effects of recording certain invested assets at market value, the deferral of acquisition costs and sales inducements and the provisions for future policy benefits and expenses. Deferred tax assets and liabilities are measured using the tax rates expected to be in effect when such benefits are realized. In 2016, the Company reached an agreement with the IRS regarding the taxation of hedging activities. This agreement requires the current taxation of all unrealized gains and losses on hedge-related investments, but then defers two-thirds of the amount ratably over the following two years. Accordingly, there is an acceleration of taxes incurred currently and a related offset to the taxes being deferred. The Company is required to evaluate the recoverability of its deferred tax assets and establish a valuation allowance, if necessary, to reduce its deferred tax asset to an amount that is more-likely-than-not to be realizable. Considerable judgment and the use of estimates are required when determining whether a valuation allowance is necessary and, if so, the amount of such valuation allowance. When evaluating the need for a valuation allowance, the Company considers many factors, including: the nature and character of the deferred tax assets and liabilities; taxable income in prior carryback years; future reversals of temporary differences; the length of time carryovers can be utilized; and any tax planning strategies the Company would employ to avoid a tax benefit from expiring unused. The Company utilized a three-year rolling calculation of actual comprehensive income before taxes adjusted for permanent items to measure the cumulative losses in recent years. In 2020, the Company entered into a funds withheld coinsurance agreement with Athene. The cumulative comprehensive income includes items that are not indicative of the Company’s ability to generate future taxable income. As such, an adjustment was made to exclude the change in AOCI not attributable to the funds withheld coinsurance agreement with Athene. The change in AOCI attributable to these assets is excluded because our invested assets are generally invested to closely match the duration of our liabilities, which are longer duration in nature, and therefore the Company believes that the period-to-period fair market value fluctuations in AOCI are inconsistent when analyzing trends in our business. The changes in AOCI within the funds withheld account related to the Athene Reinsurance Transaction are not excluded because they offset the related earnings from the Athene Reinsurance Transaction included in pre-tax income and this appropriately results in removing the impact from the Athene Reinsurance Transaction from the cumulative income test which economically should be minimal over the life of the reinsured business. Based on these factors, it is reasonable that the Company rely on the estimated projection of future income as evidence in assessing the sources of taxable income available to realize the benefit of deferred tax assets. The Company evaluated each component of the deferred tax asset and assessed the effects of limitations and/or interpretations on the value of such components to be fully recognized in the future. The Company also evaluated the likelihood of sufficient taxable income in the future to offset the available deferred tax assets based on evidence considered to be objective and verifiable. Based on the analysis at December 31, 2022 and 2021, the Company concluded that it is more-likely-than-not, that the $385 million and $954 million, respectively, of net deferred tax assets will be realized through future projected taxable income. For the year ended December 31, 2022, recent changes in market conditions, including rising interest rates, impacted the unrealized tax gains and losses in the available for sale securities portfolio resulting in deferred tax assets related to net unrealized tax capital losses for the life insurance group. The deferred tax asset relates to the unrealized losses for which the carryforward period has not yet begun, and as such, when assessing its recoverability, we consider our ability and intent to hold the underlying securities to recovery, our capital loss carryback capacity, along with reversing capital deferred tax liabilities. As of December 31, 2022, based on all available evidence, we concluded that a valuation allowance should be established on a portion of the deferred tax asset related to unrealized losses that are not more-likely-than-not to be realized. For the year ended December 31, 2022 and 2021, respectively, the Company recorded a $906 million and nil valuation allowance associated with the unrealized tax capital losses in the Life Insurance Companies' available for sale securities portfolio. All of the valuation allowance establishment was allocated to other comprehensive income. At December 31, 2022 and 2021, respectively, the Company recorded a valuation allowance in the amount of $4 million and $2 million against the deferred tax assets associated with both realized and unrealized losses on capital assets, in the Non-life Companies', where it is not more-likely-than-not that the full tax benefit of the losses will be realized. Carryforwards The following table sets forth the amount and expiration dates of federal and state operating, capital loss and tax credit carryforwards for tax periods indicated. Included in the table is a Section 382 loss carryforward attributable to a previous acquisition. Section 382 of the Internal Revenue Code imposes limitations on the utilization of net operating loss carryforwards. The Section 382 limitation is an annual limitation on the amount of pre-acquisition net operating losses that a corporation may use to offset post-acquisition income. Section 382 further limits certain unrealized built-in losses at the time of acquisition. December 31, 2022 2021 Federal net operating and capital loss carryforwards (1) $ 2,568 $ 1,280 Section 382 net operating loss from previous acquisition (2) 137 137 State net operating and capital loss carryforwards (3) 350 161 Foreign Tax Credit (4) 44 — Alternative Minimum Credit (5) 6 6 Total $ 3,105 $ 1,584 (1) Unlimited carryforward (2) Begins to expire in 2026 with annual limitation of approximately $21 million. (3) For the year ended December 31, 2022, includes $127 million with expiration of 0-20 years, and with $223 million unlimited carryforward. (4) 10 year carryforward (5) Subject to Section 383 limitations. Accounting for Uncertainty in Income Taxes The Company determines whether a tax position is more likely than not to be sustained upon examination by tax authorities. The portion of a tax position that is greater than the 50% likelihood of being realized is recorded on the financial statements and any unrecognized part of a position due to uncertainties are recorded as a liability and are charged to income tax in the period that determination is made. The Company has considered both permanent and temporary positions in determining the unrecognized tax benefit. At December 31, 2022, the Company held no reserves related to unrecognized tax benefits. For the year ended December 31, 2021, the Company decreased the reserve by $2 million related to a change in the calculation of its tax basis reserves as a result of the lapse of the statute of limitations, which resulted in no reserves related to unrecognized tax benefits at December 31, 2021. The Company recognizes interest and penalties accrued, if any, related to unrecognized tax benefits as a component of income tax (benefit) expense. The Company did not recognize any interest and penalty expense in 2022, 2021 or 2020. For 2022 and 2021, the Company had accrued total interest expense of an immaterial amount and nil, respectively. For 2022 and 2021, the Company did not accrue any amounts for penalties. Based on information available as of December 31, 2022, the Company believes that, in the next 12 months, there are no positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease. Tax Examinations And Litigation The Company is no longer subject to U.S. federal tax examinations by tax authorities for years prior to 2018. Tax years from 2018 to 2022 remain open under the statute of limitations. The 2018 IRS exam of the JFI non-life federal consolidated return closed during 2022 with no material impact to the Company. Certain of the Company’s subsidiaries’ state income tax returns are currently under examination by various jurisdictions for years ranging from 2011 to 2021. The Company does not anticipate any material changes from any of these audits . Organization and Tax Sharing Agreements Our U.S. federal consolidated income tax group includes both life companies and non-life companies. The Company files separate non-life and life insurance consolidated federal income tax returns with the U.S. federal government and various state and local jurisdictions, as well as certain foreign jurisdictions. Jackson Financial and its non-life insurance subsidiaries, Jackson Holdings, LLC and PPM, file a consolidated non-life federal income tax return. Brooke Life files a consolidated life insurance company tax return with Jackson, JNY, and Squire Re II. Jackson National Life (Bermuda) LTD and VFL International Life Company SPC, LTD are taxed as controlled foreign corporations of Jackson. With the exception of several insignificant wholly-owned subsidiaries that are not included in the Brooke Life consolidated tax return, all other subsidiaries of Jackson are limited liability companies with all of their interests owned by Jackson. Accordingly, they are not considered separate entities for income tax purposes and, therefore, are taxed as part of the operations of Jackson. Income tax expense is calculated on a separate company basis. Jackson Financial, Jackson Holdings LLC, and PPM have entered into written tax sharing agreements. These tax sharing agreements are generally based on a separate return basis with benefits for credits and losses. Brooke Life, Jackson, JNY, and Squire RE II have entered into written tax sharing agreements. These tax sharing agreements are generally based on a separate return basis with benefits for credits and losses.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesIn the ordinary course of business, the Company and its subsidiaries are parties to legal actions and, at times, regulatory investigations. Given the inherent unpredictability of these matters, it is difficult to estimate their impact on the Company’s financial position. A reserve is established for contingent liabilities if it is probable that a loss has been incurred and the amount is reasonably estimable. It is possible that an adverse outcome in certain of the Company’s contingent liabilities, or the use of different assumptions in the determination of amounts recorded, could have a material effect upon the Company’s financial position. However, it is the opinion of management that the ultimate disposition of contingent liabilities is unlikely to have a material adverse effect on the Company’s financial position. Jackson has been named in civil litigation proceedings, which appear to be substantially similar to other class action litigation brought against many life insurers including allegations of misconduct in the sale of insurance products. The Company accrues for legal contingencies once the contingency is deemed to be probable and reasonably estimable.At December 31, 2022, the Company had unfunded commitments related to its investments in limited partnerships and limited liability companies totaling $1,402 million. At December 31, 2022, unfunded commitments related to fixed-rate mortgage loans and other debt securities totaled $1,169 million.

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	Leases The Company leases office space and equipment under several operating leases that expire at various dates through 2051. The Company determines if a contract is a lease at inception or modification. Lease terms may include options to extend or terminate the lease and are included in the lease measurement when it is reasonably certain that the Company will exercise that option. Right-of-use (“ROU”) assets represent the right to use an underlying asset for the lease term and corresponding lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and liabilities are determined using the Company’s incremental borrowings rate based upon information available at lease commencement. Certain lease incentives such as free rent periods are recorded as a reduction of the ROU asset. Lease costs for operating leases are recognized on a straight-line basis over the life of the lease. The Company has lease agreements with both lease and non-lease components. The Company elected the practical expedient to combine lease and non-lease components for certain real estate leases. Variable lease expenses may include changes in index-linked lease payments and certain variable operating expenses associated with real estate leases. These payments are recognized in operating expenses in the period incurred. At December 31, 2022 and 2021, the Company had operating lease net ROU assets of $26 million and $31 million and associated lease liabilities of $36 million and $43 million, respectively, classified within other assets other liabilities The following table summarizes the components of operating lease costs and other information related to operating leases recorded within operating costs and other expenses, net of deferrals, (in millions): Years Ended December 31, 2022 2021 2020 Lease Cost: Operating leases (1) $ 7 $ 8 $ 12 Variable lease costs 4 4 5 Sublease income (3) (4) (5) Net Lease Cost $ 8 $ 8 $ 12 Other Information: Cash paid for amounts included in the measurement of operating lease liability $ 9 $ 11 $ 12 Weighted average lease term 6 years 7 years 7 years Weighted average discount rate 3.9 % 3.8 % 3.8 % (1) Operating lease costs exclude software leases, as intangible assets are excluded from the scope of Accounting Standard Codification 842, Leases. At December 31, 2022, the maturities of operating lease liabilities were as follows (in millions): 2023 $ 9 2024 8 2025 6 2026 6 2027 4 Thereafter 7 Total $ 40 Less: interest 4 Present value of lease liabilities $ 36

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation Prudential Share Plans Historically, certain associates participated in various share award plans relating to Prudential shares and/or American Depositary Receipts (“ADRs”) that were tradable on the New York Stock Exchange. Outstanding non-vested Prudential ADRs granted as of December 31, 2020 were 6,241,847. In 2021, these plans were replaced through a re-issuance by Jackson Financial Inc.’s 2021 Omnibus Incentive Plan (the “Incentive Plan”) and the remaining outstanding awards were exchanged for awards under the new plan as further described below. 2021 Omnibus Incentive Plan In April 2021, the Company’s Board of Directors adopted, and the Company’s shareholders approved, the Incentive Plan. This Incentive Plan became effective following the completion of the Demerger and replaced the Prudential Share Plans. The outstanding unvested awards previously issued under the Prudential Share Plans were exchanged for equivalent awards of shares of JFI’s Class A Common Stock under the Incentive Plan, with a grant date of October 4, 2021. The performance conditions of the awards were modified to be based on U.S. GAAP based metrics, rather than IFRS. The incremental compensation cost resulting from the modifications will be recognized ratably over the remaining requisite service period of each award. The Incentive Plan allows for stock-based awards including stock options, stock appreciation rights, restricted share awards, performance share awards, and deferred share units. The Incentive Plan has a ten-year term, expiring in September 2031. The Company currently has Restricted Share Unit and Performance Share Unit equity-based compensation awards outstanding. Dividend equivalents are generally accrued on restricted share units and performance share units outstanding as of the record date. These dividend equivalents are paid only on restricted share units and performance share units that ultimately vest. Generally, the requisite service period is the vesting period. In the case of retirement (eligibility for which is based on the associate's age and years of service as provided in the relevant award agreement), awards vest in full, but are subject to the satisfaction of any applicable performance criteria and paid in line with the original vesting date. The maximum aggregate number of shares of the Company’s common stock that may be issued pursuant to awards under the Incentive Plan shall not exceed 11,000,000 shares. Shares for which payment is in cash, including the shares withheld to cover associate payroll taxes, as well as shares that expire, terminate, or are canceled or forfeited, may be awarded or granted again under the Incentive Plan. The Company reflects the cash settled awards of the above plan as a liability classified plan and, therefore, reports the accrued compensation expense and the value of the cash settled awards within other liabilities. At December 31, 2022 and 2021, the Company had $79 million and $80 million accrued for future payments under this plan, respectively. Restricted Share Units ("RSUs") JFI grants RSUs to certain associates and non-employee directors. The majority of associate RSUs are expected to vest in three equal installments on the first through third anniversaries of the grant date over a 3-year service period, subject to forfeiture and transfer restrictions, and are payable in cash or shares at the Company’s discretion. The associate awards granted in 2021 will have a shortened, 30-month vesting period. In addition, 1- and 2-year awards were issued in connection with the Company’s Demerger. RSUs have immediate dividend rights and voting rights upon issuance of underlying shares when the share units vest. In lieu of cash dividend payments, the dividends on unvested RSUs are awarded in additional units equal to the value of the dividends and are subject to the same vesting and distribution conditions as the underlying RSU. Outstanding non-vested RSUs granted to associates were as follows: Year Ended December 31, 2022 Share-Settled Cash-Settled RSUs Weighted-Average Grant Date Fair Value per Share RSUs Weighted-Average Grant Date Fair Value per Share Non-vested at beginning of period 1,345,401 $ 26.65 1,920,880 $ 26.09 Granted (1) 400,179 $ 38.32 1,171,221 $ 38.74 Vested (421,085) $ 27.14 (836,671) $ 26.98 Forfeited (146,486) $ 27.15 (98,657) $ 29.01 Non-vested at end of period 1,178,009 $ 30.38 2,156,773 $ 32.89 (1) Includes dividend equivalents granted in the current period on awards outstanding Year Ended December 31, 2021 Share-Settled Cash-Settled RSUs Weighted-Average Grant Date Fair Value per Share RSUs Weighted-Average Grant Date Fair Value per Share Nonvested at beginning of period — $ — — $ — Granted (1) 641,312 $ 26.91 1,694,960 $ 26.57 Vested — $ — — $ — Forfeited — $ — (8,772) $ 26.41 Re-issuance due to modification 704,089 $ 26.41 234,692 $ 26.41 Nonvested at end of period 1,345,401 $ 26.65 1,920,880 $ 26.09 (1) Includes dividend equivalents granted in the current period on awards outstanding Performance Share Units ("PSUs") JFI grants PSUs to certain associates. PSU vesting is contingent on meeting a specified service requirement and the level of achievement of performance conditions. The PSU awards entitle recipients to receive, upon vesting, a number of units that ranges from 0% to 200% of the number of PSUs awarded, depending on the level of achievement of the specified performance conditions. The awards are generally expected to vest after a period of three years, subject to forfeiture and transfer restrictions, and are payable in cash or shares at the Company’s discretion. However, the awards granted in 2021 will have a shortened, 30-month vesting period. Award recipients have immediate dividend rights and voting rights upon issuance of underlying shares when the share units vest. The dividends on unvested PSUs are awarded in additional units equal to the value of the dividends and are subject to the same vesting and distribution conditions as the underlying PSUs. The modified PSU awards retained their vesting and performance conditions, modified to be based on U.S. GAAP based metrics, rather than IFRS. Outstanding non-vested PSUs granted were as follows: Year Ended December 31, 2022 Share-Settled Cash-Settled PSUs Weighted-Average Grant Date Fair Value per Share PSUs Weighted-Average Grant Date Fair Value per Share Non-vested at beginning of period 5,775,795 $ 26.59 1,993,641 $ 26.56 Granted (1) 749,064 $ 37.75 292,132 $ 37.87 Vested (2,127,430) $ 26.64 (709,089) $ 26.63 Forfeited (322,099) $ 27.00 (89,231) $ 26.79 Non-vested at end of period 4,075,330 $ 28.59 1,487,453 $ 28.73 (1) Includes dividend equivalents granted in the current period on awards outstanding Year Ended December 31, 2021 Share-Settled Cash-Settled PSUs Weighted-Average Grant Date Fair Value per Share PSUs Weighted-Average Grant Date Fair Value per Share Nonvested at beginning of period — $ — — $ — Granted (1) 678,468 $ 27.95 294,976 $ 27.42 Vested — $ — — $ — Forfeited (43,753) $ 26.41 (14,868) $ 26.41 Re-issuance due to modification 5,141,080 $ 26.41 1,713,533 $ 26.41 Nonvested at end of period 5,775,795 $ 26.59 1,993,641 $ 26.56 (1) Includes dividend equivalents granted in the current period on awards outstanding Compensation Cost JFI charges the fair value of the restricted share units and performance share units to expense over the requisite service period. The fair value of equity-classified RSUs and PSUs is based on the price of JFI’s common stock on the grant date. The fair value of liability-classified RSUs and PSUs is based on the price of JFI’s common stock as of the reporting date. For performance-based awards, JFI estimates the number of shares expected to vest at the end of the performance period based on the probable achievement of the performance objectives. RSUs have graded vesting features and JFI recognizes expense for those awards on a straight-line basis over the requisite service period. The Company recognizes forfeitures as they occur when recognizing share-based compensation expense. Total expense related to these share-based plans was as follows (in millions): For the Years Ended December 31, 2022 2021 2020 Compensation expense recognized $ 131 $ 129 $ 56 Income tax benefit recognized $ 29 $ 26 $ 12 Unrecognized compensation cost for RSUs and PSUs under the Incentive Plan as of December 31, 2022 was $50 million with a weighted average recognition period of 1.07 years.

Other Related Party Transaction

Other Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Other Related Party Transactions	Other Related Party Transactions The Company's investment management operation, PPM, provides investment services to certain Prudential affiliated entities. The Company recognized $33 million, $28 million, and $37 million of revenue during the years ended December 31, 2022, 2021 and 2020, associated with these investment services. This revenue is included in fee income in the accompanying Consolidated Income Statements.

Statutory Accounting and Regula

Statutory Accounting and Regulatory Matters	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Statutory Accounting and Regulatory Matters	Statutory Accounting and Regulatory Matters The Company’s insurance subsidiaries are required to prepare statutory financial statements in accordance with statutory accounting practices prescribed or permitted by the insurance department of the state of domicile. Statutory accounting practices primarily differ from GAAP by charging policy acquisition costs to expense as incurred and establishing future policy benefit liabilities using different actuarial assumptions, as well as valuing investments and certain assets and accounting for deferred income taxes on a different basis. At December 31, 2022 and 2021, Jackson’s statutory capital and surplus was $6.0 billion and $6.1 billion, respectively. Jackson had statutory net income (loss) of $3,688 million, $136 million, and $(1,933) million, in 2022, 2021 and 2020, respectively. Furthermore, at December 31, 2022 and 2021, Brooke Life’s statutory capital and surplus was $6.0 billion and $6.1 billion, respectively, which includes its investment in Jackson of $6.0 billion and $6.1 billion, in 2022 and 2021, respectively. Brooke Life’s statutory net income (loss) was $(109) million, $(94) million, and $(85) million in 2022, 2021, and 2020, respectively. Brooke Life’s statutory net income did not include dividend payments from Jackson in 2022 or 2021. Brooke Life paid dividends of $510 million to its parent in 2022 with no related dividend payments in 2021. The Company’s consolidated assets are primarily those of its life insurance subsidiary, Jackson. Under the Michigan Insurance Code of 1956, Jackson must notify the Michigan Director of Insurance prior to payment of any dividend. Ordinary dividends on capital stock may only be distributed out of earned surplus, excluding any unrealized capital gains and the effect of permitted practices (referred to as adjusted earned surplus). Ordinary dividends are also limited to the greater of 10% of statutory surplus as of the preceding year end, excluding any increase arising from the application of permitted practices, or the statutory net income, excluding any net realized investment gains, for the twelve-month period ended on the preceding December 31. The Michigan Director of Insurance may approve payment of dividends in excess of these amounts, which would be deemed an extraordinary dividend. The maximum amount that would qualify as an ordinary dividend for Jackson, which would consequently be free from restriction and available for payment of dividends to Brooke Life in 2022, is estimated to be $3,688 million, subject to the availability of adjusted earned surplus as of the dividend date. At December 31, 2022, Jackson had $943 million adjusted earned surplus available for ordinary dividends. Furthermore, at December 31, 2022, Brooke Life had adjusted earned surplus of $545 million. The maximum amount that would qualify as an ordinary dividend for Brooke Life, which would consequently be free from restriction and available for payment of dividends to Brooke Life’s parent in 2023, is estimated to be $501 million, subject to the availability of adjusted earned surplus as of the dividend date. On February 24, 2023, Jackson received approval from the Michigan Director of Insurance for a $600 million distribution to Jackson’s parent company, Brooke Life. The distribution is expected to occur in the first quarter of 2023. Brooke Life will subsequently upstream this distribution to its ultimate parent, Jackson Financial, except for $90 million of the distribution to be used for debt servicing of its surplus note payable. Under Michigan insurance law, Value of Business Acquired ("VOBA") is reported as an admitted asset if certain criteria are met. Pursuant to Michigan insurance law, Jackson reported $33 million of statutory basis VOBA, at December 31, 2021, which was fully admissible. At December 31, 2022, Jackson's statutory basis VOBA was nil as the balance was fully amortized in 2022. The NAIC has developed certain risk-based capital (“RBC”) requirements for life insurance companies. Under those requirements, compliance is determined by a ratio of a company’s total adjusted capital (“TAC”), calculated in a manner prescribed by the NAIC to its authorized control level RBC, calculated in a manner prescribed by the NAIC. Companies below specific trigger points or ratios are classified within certain levels, each of which requires specified corrective action. The minimum level of TAC before corrective action commences is twice the authorized control level RBC (“Company action level RBC”). At December 31, 2022, Jackson and Brooke Life’s TAC remained well in excess of the Company action level RBC. In addition, on the basis of statutory financial statements that insurers file with the state insurance regulators, the NAIC annually calculates twelve financial ratios to assist state regulators in monitoring the financial condition of insurance companies. A usual range of results for each ratio is used as a benchmark and departure from the usual range on four or more of the ratios can lead to inquiries from individual state insurance departments. In 2022 and 2021, there were no significant exceptions with any ratios.

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Benefit Plans	Benefit Plans The Company has a defined contribution retirement plan covering substantially all associates and certain affiliates. Effective January 1, 2020, associates are immediately eligible to participate in the Company’s matching contribution. To be eligible to participate in the Company’s profit-sharing contribution, an associate must have attained the age of 21, completed at least 1,000 hours of service in a 12-month period and passed their 12-month employment anniversary. In addition, the associate must be employed on the applicable January 1 or July 1 entry date. The Company’s annual profit-sharing contributions, as declared by Jackson’s Board of Directors, are based on a percentage of eligible compensation paid to participating associates during the year. In addition, the Company matches a participant’s elective contribution, up to 6 percent of eligible compensation, to the plan during the year. The Company’s expense related to this plan was $31 million, $32 million, and $34 million in 2022, 2021 and 2020, respectively. The Company maintains non-qualified voluntary deferred compensation plans for certain associates and independent agents. At December 31, 2022 and 2021, the total aggregate liability for such plans was $469 million and $564 million, respectively, and was reported in other liabilities. The Company’s expense (income) related to these plans, including a match of elective deferrals for the agents’ deferred compensation plan and the change in value of participant elective deferrals, was $(47) million, $54 million, and $56 million in 2022, 2021 and 2020, respectively.

Operating Costs and Other Expen

Operating Costs and Other Expenses	12 Months Ended
	Dec. 31, 2022
Operating Costs And Other Expenses [Abstract]
Operating Costs and Other Expenses	Operating Costs and Other Expenses The following table is a summary of the Company’s operating costs and other expenses (in millions): Years Ended December 31, 2022 2021 2020 Asset-based commission expenses $ 1,010 $ 1,126 $ 907 Other commission expenses 846 1,042 1,020 Sub-advisor expenses 329 389 324 Athene ceding commission (1) — — (1,202) General and administrative expenses 875 1,078 985 Deferral of acquisition costs (628) (796) (735) Total operating costs and other expenses $ 2,432 $ 2,839 $ 1,299 (1) See Note 8 to Consolidated Financial Statements for further information.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income Comprehensive income includes all changes in shareholders’ equity (except those arising from transactions with owners/shareholders) and includes net income and net unrealized gains or losses on available-for-sale securities. The following table represents changes in the balance of accumulated other comprehensive income (" AOCI"), net of income tax, related to unrealized investment gains (losses) (in millions): Years Ended December 31, 2022 2021 2020 Balance, beginning of period (1) $ 1,744 $ 3,821 $ 2,398 Change in unrealized appreciation (depreciation) of investments (8,296) (1,829) 2,598 Change in unrealized appreciation (depreciation) - other 382 90 131 Change in deferred tax asset 811 375 (602) Other comprehensive income (loss) before reclassifications (7,103) (1,364) 2,127 Reclassifications from AOCI, net of tax (122) (713) (704) Other comprehensive income (loss) (7,225) (2,077) 1,423 Balance, end of period (1) $ (5,481) $ 1,744 $ 3,821 (1) Includes $(2,106) million and $287 million related to the investments held within the funds withheld account related to the Athene Reinsurance Transaction as of December 31, 2022 and December 31, 2021, respectively. The following table represents amounts reclassified out of AOCI (in millions): AOCI Components Amounts Affected Line Item in the Years Ended December 31, 2022 2021 2020 Net unrealized investment gain (loss): Net realized gain (loss) on investments $ (167) $ (932) $ (1,148) Net gains (losses) on derivatives and investments Other impaired securities — (10) 10 Net gains (losses) on derivatives and investments Net unrealized gain (loss) (167) (942) (1,138) Amortization of deferred acquisition costs 12 32 247 Reclassifications, before income taxes (155) (910) (891) Income tax expense (benefit) (33) (197) (187) Reclassifications, net of income taxes $ (122) $ (713) $ (704)

Equity

Equity	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Equity	Equity Common Stock At the time of the Demerger, the Company had two classes of common stock: Class A Common Stock and Class B Common Stock. Both classes had a par value of $0.01 per share. Each share of Class A Common Stock was entitled to one vote per share. Each share of Class B Common Stock was entitled to one-tenth of one vote per share. Except for voting rights, the Company’s Class A Common Stock and Class B Common Stock had the same dividend rights, were equal in all other respects, and were otherwise treated as if they were one class of shares. On June 9, 2022, our shareholders approved the Third Amended and Restated Certificate of Incorporation, which amended and restated the Second Amended and Restated Certificate of Incorporation to eliminate the Class B Common Stock. At December 31, 2021, the Company was authorized to issue up to 900 million shares of Class A Common Stock and 100 million shares of Class B Common Stock. At December 31, 2022, the Company was authorized to issue up to 1 billion shares of common stock (formerly known as the Class A Common Stock at December 31, 2021). Stock Split On September 9, 2021, the Company effected a 104,960.3836276-for-1 stock split of its Class A Common Stock and Class B Common Stock by way of a reclassification of its Class A Common Stock and Class B Common Stock. The incremental par value of the newly issued shares was recorded with the offset to additional paid-in capital. All share and earnings per share information presented herein have been retroactively adjusted to reflect the stock split. Share Repurchase and Common Stock Conversion On November 8, 2021, our Board of Directors authorized a share repurchase program of our Class A Common Stock of $300 million. On February 28, 2022, our Board of Directors authorized an increase of $300 million in our existing authorization to repurchase shares of our outstanding Class A Common Stock as part of the Company's share repurchase program. On December 13, 2021, we repurchased 2,242,516 shares of our Class A Common Stock from Prudential and 1,134,767 shares of our Class A Common Stock from Athene. The price per share in the repurchase was $37.01. On December 13, 2021, Athene converted a total of 725,623 shares of its Class B Common Stock to Class A Common Stock on a one-for-one basis. On February 1, 2022, Athene converted the remaining 638,861 shares of its Class B Common Stock to Class A Common Stock on a one-for-one basis. On March 12, 2022, we repurchased 750,000 shares of our Class A Common Stock from Athene. The price per share in the repurchase was $37.89. On February 27, 2023, our Board of Directors authorized an increase of $450 million in our existing authorization to repurchase shares of our outstanding Class A Common Stock as part of the Company's share repurchase program. As of February 22, 2023, the Company had remaining authorization to purchase $90 million of its common shares. The Company expects to repurchase shares from time to time in the open market or in privately negotiated transactions. The timing, form and amount of the share repurchases under the program are at the discretion of management and will depend on a variety of factors, including funds available at the parent company, other potential uses for such funds, market conditions, the Company's capital position, legal requirements and other factors. The repurchase program may be modified, extended or terminated by the Board at any time. It does not have an expiration date. There can be no assurance that we will continue share repurchases or approve any increase to, or approve any new, stock repurchase program, or as to the amount of any repurchases made pursuant to such programs. The following table represents share repurchase activities as part of this share repurchase program: Number of Shares Repurchased Total Payments Average Price Paid Per Share Period 2021 (October 1 - December 31) 5,778,649 $ 211 $ 36.51 Total 2021 5,778,649 211 36.51 2022 (January 1 - March 31) 3,433,610 140 40.84 2022 (April 1 - June 30) 1,870,854 66 35.15 2022 (July 1 - September 30) 1,200,000 39 32.75 2022 (October 1 - December 31) 1,142,105 38 33.33 Total 2022 7,646,569 283 37.05 2023 (January 1 - February 22) 409,037 $ 16 $ 39.56 The following table represents changes in the balance of common stock outstanding: Common Stock Treasury Stock Total Common Stock Outstanding Shares at December 31, 2020 94,464,343 — 94,464,343 Shares repurchased under repurchase program — (5,778,649) (5,778,649) Shares at December 31, 2021 94,464,343 (5,778,649) 88,685,694 Share-based compensation programs 10,568 1,640,405 (1) 1,650,973 Shares repurchased under repurchase program — (7,646,569) (7,646,569) Shares at December 31, 2022 94,474,911 (11,784,813) 82,690,098 (1) Represents net shares issued from treasury stock pursuant to the Company’s share-based compensation programs. Dividends to Shareholders Any declaration of cash dividends will be at the discretion of JFI’s Board of Directors and will depend on our financial condition, earnings, liquidity and capital requirements, regulatory constraints, level of indebtedness, contractual restrictions with respect to paying cash dividends, restrictions imposed by Delaware law, general business conditions and any other factors that JFI’s Board of Directors deems relevant in making any such determination. Therefore, there can be no assurance that we will pay any cash dividends to holders of our common stock or as to the amount of any such cash dividend. The following table presents declaration date, record date, payment date and dividends paid per share of JFI’s common stock: Declaration Date Record Date Payment Date Dividends Paid Per Share Quarter Ended 03/31/2022 February 28, 2022 March 14, 2022 March 23, 2022 0.55 06/30/2022 May 9, 2022 June 2, 2022 June 16, 2022 0.55 09/30/2022 August 8, 2022 September 1, 2022 September 15, 2022 0.55 12/31/2022 November 7, 2022 December 1, 2022 December 15, 2022 0.55 Quarter Ended 12/31/2021 November 8, 2021 November 19, 2021 December 9, 2021 0.50 There were no dividends declared or paid to the Company’s shareholders for the year ended December 31, 2020. Dividend equivalents are generally accrued on restricted share units and performance share units outstanding as of the record date. Dividend equivalents on restricted share units and performance share units that are ultimately payable in cash are recognized as compensation expense while those that are ultimately payable in shares are recognized as dividends. Cumulative Effect of Changes in Accounting Principles In 2020, the Company adopted ASU 2016-13 and all related amendments with a cumulative effect after-tax adjustment at December 31, 2020 of $56 million to reduce retained earnings primarily related to the Company’s commercial mortgage loans.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share is calculated by dividing net income (loss) attributable to Jackson Financial Inc. shareholders by the weighted-average number of common shares outstanding during the period. When the Class B Common Stock w as outstanding, e xcept for voting rights, the two classes of common stock had the same dividend rights, were equal in all respects, and were otherwise treated as if they were one class of shares, including the treatment for the earnings per share calculations. Diluted earnings per share is calculated by dividing the net income (loss) attributable to Jackson Financial Inc. shareholders, by the weighted-average number of shares of common stock outstanding for the period, plus shares representing the dilutive effect of share-based awards. In 2020, the Company did not have any outstanding share-based awards involving the issuance of the Company’s equity and, therefore, no impact to the diluted earnings per share calculation. Beginning in 2021, the Company granted it's first share-based awards subject to vesting provisions of the Incentive Plan, which have a dilutive effect. See Note 16 to Consolidated Financial Statements for further description of share-based awards. The following table sets forth the calculation of earnings per common share: Years Ended December 31, 2022 2021 2020 (in millions, except share and per share data) Net income (loss) attributable to Jackson Financial Inc. $ 5,697 $ 3,183 $ (1,634) Weighted average shares of common stock outstanding - basic 85,513,787 93,994,520 67,658,901 Dilutive common shares 3,176,913 470,991 — Weighted average shares of common stock outstanding - diluted 88,690,700 94,465,511 67,658,901 Earnings per share—common stock Basic $ 66.62 $ 33.86 $ (24.14) Diluted $ 64.23 $ 33.69 $ (24.14)

Revision and Reclassifications

Revision and Reclassifications of Prior Period Financial Statements	12 Months Ended
	Dec. 31, 2022
Accounting Changes and Error Corrections [Abstract]
Revision and Reclassifications of Prior Period Financial Statements	Revision and Reclassifications of Prior Period Financial Statements At September 30, 2022, the Company identified errors related to the classification of certain balances and amounts in line items of Consolidated Balance Sheets, Income Statements, and Statements of Cash Flows of its previously issued Consolidated Financial Statements. These errors consist of balances and amounts related to deferred sales inducement assets, liabilities for certain life-contingent annuities, sub-advisor fee expenses, and other operating expenses and do not impact previously reported net income, total equity, or net cash flows. Management evaluated these errors and the impact to previously issued financial statements based upon SEC Staff Accounting Bulletin No. 99, Materiality, which has since been codified in Accounting Standards Codification (“ASC”) 250, Accounting Changes and Error Corrections. Based on this evaluation, management has concluded that the adjustments and impact of these errors are not material to any previously issued quarterly or annual financial statements. However, to improve the consistency and comparability of the financial statements, management has revised previously reported financial statement line items and related disclosures in this report. In addition, certain other immaterial amounts in prior period financial statements have been reclassified to conform to the current period presentation. The following tables present Consolidated Balance Sheets and Income Statements line items affected by the revisions and reclassifications of previously reported financial statements, detailing amounts previously reported, the impact upon those line items due to revisions and reclassifications and amounts as currently revised within the financial statements. For the years ended December 31, 2021 and 2020 the reclassification also impacted the Consolidated Statements of Cash Flows in the amount of $61 million and $65 million, respectively, which increased financing cash flows offset by a decrease in operating cash flows. In addition, there were revisions reflected in our disclosures throughout this Form 10-K. Consolidated Balance Sheets (in millions) As Previously Reported Impact of Revisions As Revised 12/31/21 12/31/21 12/31/21 Assets Other assets $ 853 $ 75 $ 928 Total assets 375,484 75 375,559 Liabilities Reserves for future policy benefits and claims payable 17,629 1,038 18,667 Other contract holder funds 59,689 (963) 58,726 Notes issued by consolidated variable interest entities, at fair value under fair value option — 1,404 1,404 Other liabilities 3,944 (1,404) 2,540 Total liabilities 364,410 75 364,485 Total liabilities and equity $ 375,484 $ 75 $ 375,559 Consolidated Income Statements As Previously Reported Impact of Revisions and Reclassifications As Revised Year Ended Year Ended Year Ended 12/31/21 12/31/21 12/31/21 Revenues Fee income $ 7,670 $ 389 $ 8,059 Premium 133 15 148 Net investment income 3,429 (5) 3,424 Total revenues 8,848 399 9,247 Benefits and Expenses Death, other policy benefits and change in policy reserves, net of deferrals 913 57 970 Interest credited on other contract holder funds, net of deferrals and amortization 868 (34) 834 Operating costs and other expenses, net of deferrals 2,462 377 2,839 Amortization of deferred acquisition costs 521 (1) 520 Total benefits and expenses 4,801 399 5,200 Net income (loss) $ 3,445 $ — $ 3,445 Consolidated Income Statements As Previously Reported Impact of Revisions and Reclassifications As Revised Year Ended Year Ended Year Ended 12/31/20 12/31/20 12/31/20 Revenues Fee income $ 6,604 $ 324 $ 6,928 Premium 160 27 187 Net investment income 2,829 (11) 2,818 Total revenues 3,206 340 3,546 Benefits and Expenses Death, other policy benefits and change in policy reserves, net of deferrals 1,284 78 1,362 Interest credited on other contract holder funds, net of deferrals and amortization 1,210 91 1,301 Operating costs and other expenses, net of deferrals 984 315 1,299 Amortization of deferred acquisition costs (389) (144) (533) Total benefits and expenses 5,697 340 6,037 Net income (loss) $ (1,637) $ — $ (1,637)

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (Unaudited)	Selected Quarterly Financial Data (Unaudited) At September 30, 2022, the Company identified errors related to the classification of certain balances and amounts in line items of Consolidated Balance Sheets, Income Statements, and Statements of Cash Flows of its previously issued Consolidated Financial Statements. See Note 24 to Consolidated Financial Statements for further description of revisions and reclassifications of prior period financial statements. The following table contains quarterly financial information revised for the years ended December 31, 2022 and 2021 (in millions): Three Months Ended March 31, June 30, September 30, December 31, 2022 2021 2022 2021 2022 2021 2022 2021 Revenues (1) $ 4,364 $ 5,606 $ 6,546 $ 341 $ 4,022 $ 1,575 $ (381) $ 1,725 Benefits and expenses (1) 1,978 2,020 2,895 879 1,995 1,323 572 977 Pretax income (loss) 2,386 3,586 3,651 (538) 2,027 252 (953) 748 Income tax expense (benefit) 330 586 717 (54) 559 (16) (235) 87 Net income (loss) 2,056 3,000 2,934 (484) 1,468 268 (718) 661 Less: Net income (loss) attributable to noncontrolling interests 31 68 31 56 (11) 62 (8) 76 Net income (loss) attributable to Jackson Financial Inc. $ 2,025 $ 2,932 $ 2,903 $ (540) $ 1,479 $ 206 $ (710) $ 585 Earnings per share Basic $ 23.45 $ 31.03 $ 33.77 $ (5.72) $ 17.38 $ 2.18 $ (8.48) $ 6.32 Diluted $ 22.51 $ 31.03 $ 32.56 $ (5.72) $ 16.83 $ 2.18 $ (8.48) $ 6.19 (1) As discussed above, we recorded out of period reclassifications affecting Revenues and Benefits and expenses. The out of period reclassifications increased Revenues by $27 million and $63 million for each of the three months ended June 30, 2022 and March 31, 2022, respectively. Similarly, the reclassification increased Revenues by $103 million, $89 million, $109 million and $99 million for each of the three months ended December 31, 2021, September 30, 2021 June 30, 2021 and March 31, 2021, respectively. The increase in Revenues is directly offset by an increase to Benefits and expenses for the respective periods indicated.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated subsequent events through the date these Consolidated Financial Statements were issued. Dividends Declared to Shareholders On February 27, 2023, our Board of Directors approved a first quarter cash dividend on JFI's common stock of $0.62 per share, payable on March 23, 2023, to shareholders of record on March 14, 2023. Share Repurchase Authorization On February 27, 2023, our Board of Directors authorized an increase of $450 million to our existing share repurchase authorization of JFI's Common Stock.

Schedule I

Schedule I	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]
Schedule I	Schedule I Jackson Financial Inc. Summary of Investments—Other Than Investments in Related Parties (In millions) As of December 31, 2022 Amount at Which Shown Cost or on Balance Type of Investment Amortized Cost Fair Value Sheet Debt securities: Bonds: U.S. government securities $ 6,192 $ 5,185 $ 5,185 Other government securities 1,719 1,467 1,467 Public utilities 5,893 5,225 5,225 Corporate securities 28,803 25,146 25,146 Residential mortgage-backed 510 464 464 Commercial mortgage-backed 1,821 1,638 1,638 Other asset-backed securities 6,133 5,637 5,637 Total debt securities 51,071 44,762 44,762 Equity securities 393 393 393 Mortgage loans 11,549 N/A 11,549 Policy loans 4,377 N/A 4,377 Derivative instruments 1,270 N/A 1,270 Other invested assets 2,815 N/A 3,595 Total investments $ 71,475 $ 65,946

Schedule II

Schedule II	12 Months Ended
	Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]
Schedule II	Schedule II Jackson Financial Inc. (Parent Company Only) Balance Sheets (In millions, except share data) December 31, 2022 2021 Assets Debt securities, available-for-sale $ 450 $ — Investment in subsidiaries 8,043 10,073 Cash and cash equivalents 226 604 Accrued investment income 1 — Intercompany receivables 2,054 2,064 Deferred income taxes, net — 2 Other assets 4 3 Total assets $ 10,778 $ 12,746 Liabilities and Equity Liabilities Senior Notes due 2023 - unaffiliated (1) (2) 598 596 Senior Notes due 2027 - unaffiliated (1) (2) 397 — Senior Notes due 2031 - unaffiliated (1) (2) 493 495 Senior Notes due 2032 - unaffiliated (1) (2) 347 — Senior Notes due 2051 - unaffiliated (1) (2) 488 490 Term loan due 2023 - unaffiliated (1) — 751 Deferred income taxes, net 1 — Intercompany payables 19 — Other liabilities 12 20 Total liabilities 2,355 2,352 Equity Common stock, (i) at December 31, 2022, common stock (formerly known as the Class A Common Stock at December 31, 2021) 1,000,000,000 shares authorized, $0.01 par value per share and 82,690,098 shares issued and outstanding (ii) at December 31, 2021, Class A Common Stock 900,000,000 shares authorized, $0.01 par value per share and 88,046,833 shares issued and outstanding and Class B Common Stock 100,000,000 shares authorized, $0.01 par value per share and 638,861 shares issued and outstanding (See Note 22 to Consolidated Financial Statements) 1 1 Additional paid-in capital 6,063 6,051 Treasury stock, at cost; 11,784,813 and 5,778,649 shares at December 31, 2022 and 2021, respectively. (443) (211) Accumulated other comprehensive income (5,481) 1,744 Retained earnings (deficit) 8,283 2,809 Total equity 8,423 10,394 Total liabilities and equity $ 10,778 $ 12,746 (1) See Note 11 - Long-Term Debt to our Consolidated Financial Statements for additional information regarding these borrowings. (2) Includes unamortized debt issuance costs totaling $20 million and $17 million for the senior notes on a combined basis at December 31, 2022 and 2021, respectively. (continued) Schedule II Jackson Financial Inc. (Parent Company Only) Statements of Income (In millions) For the Years Ended December 31, 2022 2021 2020 Revenues Net investment income $ 10 $ — $ — Dividends from subsidiaries 510 — — Interest income from subsidiaries 90 90 49 Total revenues 610 90 49 Benefits and Expenses Interest expense 76 15 4 Operating costs and other expenses 29 53 17 Total benefits and expenses 105 68 21 Pretax income 505 22 28 Income tax expense (benefit) (1) 9 10 Subsidiary equity earnings (loss) 5,191 3,170 (1,652) Net income (loss) $ 5,697 $ 3,183 $ (1,634) (continued) Schedule II Jackson Financial Inc. (Parent Company Only) Statements of Cash Flows (In millions) For the Years Ended December 31, 2022 2021 2020 Cash flows from operating activities: Net income $ 5,697 $ 3,183 $ (1,634) Adjustments to reconcile net income to net cash provided by operating activities: Subsidiary equity earnings (5,191) (3,170) 1,652 Interest expense 76 15 4 Amortization of discount and premium on investments (5) — — Change in other assets and liabilities, net 4 (43) 4 Net cash provided by (used in) operating activities 581 (15) 26 Cash flows from investing activities: Sales, maturities and repayments of: Debt securities — — — Purchases of: Debt securities (445) — — Other investing activities — — — Net cash provided by (used in) investing activities (445) — — Cash flows from financing activities: Net proceeds from (payments on) borrowings (750) 740 — Net proceeds from issuance of senior notes 750 1,593 — Debt issuance costs (7) (28) — Dividends on common stock (186) (50) — Capital distribution to subsidiary — (1,550) (526) Share based compensation — 123 — Purchase of treasury stock (321) (211) — Common stock issuance—Athene — — 500 Net cash provided by (used in) financing activities (514) 617 (26) Net increase (decrease) in cash and short-term investments (378) 602 — Cash and cash equivalents, beginning of year 604 2 2 Total cash and cash equivalents, end of year $ 226 $ 604 $ 2 Non-cash financing transactions Non-cash dividend equivalents on stock based awards $ (13) $ — $ — Non-cash debt restructuring transactions $ — $ — $ (2,350) Shares issued in settlement of the debt restructuring $ — $ — $ 2,350

Schedule III

Schedule III	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
Schedule III	Schedule III Jackson Financial Inc. Supplemental Insurance Information (In millions) Reserves for Deferred Future Policy Acquisition Benefits and Other Contract Costs Claims Payable Holder Funds December 31, 2022 Retail Annuities $ 13,448 $ 2,214 $ 36,460 Closed Life and Annuity Blocks 132 12,059 12,716 Institutional Products — — 9,019 Corporate and Other (158) — — Total $ 13,422 $ 14,273 $ 58,195 December 31, 2021 Retail Annuities $ 14,128 $ 5,980 $ 36,737 Closed Life and Annuity Blocks 126 12,687 13,159 Institutional Products — — 8,830 Corporate and Other (5) — — Total $ 14,249 $ 18,667 $ 58,726 December 31, 2020 Retail Annuities $ 13,739 $ 9,078 $ 38,962 Closed Life and Annuity Blocks 134 13,434 13,492 Institutional Products — — 11,138 Corporate and Other 24 — — Total $ 13,897 $ 22,512 $ 63,592 (continued) Schedule III Jackson Financial Inc. Supplemental Insurance Information (In millions) Interest Credited Deferred on Other Acquisition and Operating Net Investment Contract Holder Sales Inducements Costs and Premium Income Funds Amortization Other Expenses December 31, 2022 Retail Annuities $ 10 $ 403 $ 254 $ 435 $ 2,174 Closed Life and Annuity Blocks 134 706 407 6 130 Institutional Products — 312 201 — 5 Corporate and Other — 65 — 12 123 Segment subtotal 144 1,486 862 453 2,432 Non-operating items (1) (12) 1,275 — 1,290 — Total $ 132 $ 2,761 $ 862 $ 1,743 $ 2,432 December 31, 2021 Retail Annuities $ 15 $ 692 $ 226 $ 197 $ 2,456 Closed Life and Annuity Blocks 145 950 420 14 180 Institutional Products — 260 188 — 5 Corporate and Other — 55 — 34 146 Segment subtotal 160 1,957 834 245 2,787 Non-operating items (1) (12) 1,467 — 275 52 Total $ 148 $ 3,424 $ 834 $ 520 $ 2,839 December 31, 2020 Retail Annuities $ 27 $ 956 $ 477 $ 57 $ 2,158 Closed Life and Annuity Blocks 172 778 436 17 187 Institutional Products — 355 250 — 5 Corporate and Other — (35) — 20 134 Segment subtotal 199 2,054 1,163 94 2,484 Non-operating items (1) (12) 764 138 (627) (1,185) Total $ 187 $ 2,818 $ 1,301 $ (533) $ 1,299

Schedule IV

Schedule IV	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
Schedule IV	Schedule IV Jackson Financial Inc. Reinsurance For the Years Ended December 31, 2022, 2021, and 2020 (In millions) % Amount Assumed to Gross Amount Ceded Assumed Net Amount Net 2022 Life insurance in-force $ 86,792 $ 49,007 $ 15,976 $ 53,761 29.7 % Insurance premium Life insurance $ 325 $ 228 $ 37 $ 134 27.6 % Accident and health 25 28 3 — Payout annuity 10 — — 10 Annuity guaranteed benefits — 12 — (12) Total insurance premium $ 360 $ 268 $ 40 $ 132 30.3 % 2021 Life insurance in-force $ 105,704 $ 63,548 $ 16,358 $ 58,514 28.0 % Insurance premium Life insurance $ 354 $ 247 $ 38 $ 145 26.2 % Accident and health 38 42 4 — Payout annuity 15 — — 15 Annuity guaranteed benefits — 12 — (12) Total insurance premium $ 407 $ 301 $ 42 $ 148 28.4 % 2020 Life insurance in-force $ 118,328 $ 72,188 $ 17,034 $ 63,174 27.0 % Insurance premium Life insurance $ 273 $ 142 $ 42 $ 173 24.5 % Accident and health 36 41 5 — Payout annuity 27 — — 27 Annuity guaranteed benefits — 13 — (13) Total insurance premium $ 336 $ 196 $ 47 $ 187 25.1 %

Schedule V

Schedule V	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule V	Schedule V Jackson Financial Inc. Valuation and Qualifying Accounts For the Years Ended December 31, 2022 and 2021 (In millions) Balance at Charged to Beginning Costs and Balance at of Period Expenses Deductions End of Period 2022 Allowance for credit losses on debt securities $ 9 $ 36 $ (22) (1) $ 23 Allowances for credit losses on mortgage and other loans 94 — 1 (2) 95 Allowance for credit losses on reinsurance recoverable 12 3 — 15 Valuation allowance on deferred tax asset 2 908 (3) — 910 $ 117 $ 947 $ (21) $ 1,043 2021 Allowance for credit losses on debt securities $ 14 $ 11 $ (16) (1) $ 9 Allowances for credit losses on mortgage and other loans 179 — (85) (2) 94 Allowance for credit losses on reinsurance recoverable 13 — (1) 12 Valuation allowance on deferred tax asset 2 — — 2 $ 208 $ 11 $ (102) $ 117 (1) Represents reductions for securities disposed. (2) Represents provision (release) of allowance for write-offs.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of PresentationThe accompanying Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Intercompany accounts and transactions have been eliminated upon consolidation.
Reclassifications	Certain amounts in the 2021 Notes to Consolidated Financial Statements have been reclassified to conform to the 2022 presentation.
Use of Estimates	Use of Estimates The preparation of the Consolidated Financial Statements in conformity with GAAP requires the use of estimates and assumptions about future events that affect the amounts reported in the Consolidated Financial Statements and the accompanying notes. Significant estimates or assumptions, as further discussed in the notes, include: • Valuation of investments and derivative instruments, including fair values of securities deemed to be in an illiquid market and the determination of when an impairment is necessary; • Assessments as to whether certain entities are variable interest entities, the existence of reconsideration events and the determination of which party, if any, should consolidate the entity; • Assumptions impacting estimated future gross profits, including policyholder behavior, mortality rates, expenses, projected hedging costs, investment returns and policy crediting rates, used in the calculation of amortization of deferred acquisition costs; • Assumptions used in calculating policy reserves and liabilities, including policyholder behavior, mortality rates, expenses, investment returns and policy crediting rates; • Assumptions as to future earnings levels being sufficient to realize deferred tax benefits; • Estimates related to expectations of credit losses on certain financial assets and off-balance sheet exposures; • Assumptions and estimates associated with the Company’s tax positions, including an estimate of the dividends received deduction, which impact the amount of recognized tax benefits recorded by the Company; and • Assumptions used in calculating the value of guaranteed benefits. These estimates and assumptions are based on management’s best estimates and judgments. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors deemed appropriate. As facts and circumstances dictate, these estimates and assumptions may be adjusted. Since future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in estimates, including those resulting from continuing changes in the economic environment, will be reflected in the Consolidated Financial Statements in the periods the estimates are changed.
Revision of Prior Period Financial Statements	Revision of Prior Period Financial Statements At September 30, 2022, the Company identified errors related to the classification of certain balances and amounts in the line items of the Consolidated Balance Sheets and Consolidated Income Statements. These errors resulted in the revision of balances and amounts related to deferred sales inducement assets, liabilities for certain life-contingent annuities, sub-advisor fee expenses, and other operating expense items that impacted previously issued Consolidated Financial Statements. The impact of these errors to the current and the prior periods' Consolidated Financial Statements were not considered to be material and had no impact on shareholders' equity or net income. However, to improve the consistency and comparability of the financial statements, management revised the financial statements and related disclosures in this Form 10-K. See Note 24 to the Notes to Consolidated Financial Statements for details of the revisions.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents primarily include money market instruments and bank deposits. Cash equivalents also includes all highly liquid securities and other investments purchased with an original or remaining maturity of three months or less at the date of purchase.
Revenue and Expense Recognition	Revenue and Expense Recognition Premiums for traditional life insurance are reported as revenues when due. Benefits, claims and expenses are associated with earned revenues in order to recognize profit over the lives of the contracts. This association is accomplished through provisions for future policy benefits and the deferral and amortization of certain acquisition costs.
Management Fees Based on a Formula	Management Fees Based on a Formula PPM receives an investment management fee for services as an asset manager for various entities. Revenue for these services is measured based on the terms specified in a contract with a customer and is recognized when PPM has satisfied a performance obligation. These investment management fees are recognized ratably over the period that assets are managed, and when the probability of significant revenue reversal is remote. PPM also receives performance-based incentive fees from certain entities for which it invests based on predetermined formulas. Performance related management fees are earned over a specified period and can result in additional fees. These fees are recognized at the end of the agreement, once the fees are fixed, determinable, not subject to further performance metrics, and probability of significant revenue reversal is remote.
Changes in Accounting Principles	Changes in Accounting Principles – Adopted in Current Year In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The new guidance provides optional expedients for applying GAAP to contracts and other transactions affected by reference rate reform and is effective for contract modifications made between March 12, 2020 and December 31, 2022. If certain criteria are met, an entity will not be required to remeasure or reassess contracts impacted by reference rate reform. The practical expedient allowed by this standard was elected and is being applied prospectively by the Company as reference rate reform unfolds. The contracts modified to date met the criteria for the practical expedient and therefore had no material impact on the Company’s Consolidated Financial Statements. In December 2022, the FASB issued ASU 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848” which defers the sunset date of Topic 848 from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The amendments are effective for all entities as of December 21, 2022. The Company will continue to evaluate the impacts of reference rate reform on contract modifications and other transactions through December 31, 2024. Changes in Accounting Principles – Issued but Not Yet Adopted In August 2018, the FASB issued ASU 2018-12, “Targeted Improvements to the Accounting for Long-Duration Contracts,” which includes changes to the existing recognition, measurement, presentation and disclosure requirements for long-duration contracts issued by an insurance entity. ASU 2018-12 is effective for fiscal years beginning after December 15, 2022. The amendments in ASU 2018-12 contain four significant changes: 1. Market risk benefits: market risk benefits, a new term for certain contracts or features that provide for potential benefits in addition to the account balance which expose the Company to other than nominal market risk (for example, certain guaranteed benefits on annuity contracts, including guaranteed minimum withdrawal benefits and guaranteed minimum death benefits on variable annuities), will be measured at fair value. Changes in fair value will be recorded and presented separately within the income statement, with the exception of changes in fair value due to instrument-specific credit risk, which will be recognized in other comprehensive income (loss) (“OCI”). See Note 10 to Consolidated Financial Statements for more information regarding guaranteed benefits ; 2. Deferred acquisition costs: deferred acquisition costs (“DAC”) will be amortized on a constant-level basis, independent of profitability on the underlying business; 3. Liability for future policy benefits: annual review and, if necessary, update of cash flow assumptions used to measure the liability for future policy benefits for nonparticipating traditional and limited-payment insurance contracts will be required. These liabilities will be discounted using an upper-medium grade fixed income instrument yield which will be updated quarterly, with related changes in the liability recognized in OCI; and 4. Enhanced disclosures: enhanced disclosures, including disaggregated roll-forwards of certain balance sheet accounts that provide information about actual and expected cash flows, as well as information about significant inputs, judgments, assumptions and methods used in measurement, will be required. The enhanced disclosures are intended to improve the ability of users of the financial statements to evaluate the timing, amount, and uncertainty of cash flows arising from long-duration contracts. The Company will adopt the standard effective January 1, 2023, with a transition date of January 1, 2021, using a modified retrospective approach, except for market risk benefits for which we will apply a full retrospective transition approach. Under the modified retrospective approach, the Company will apply the guidance to contracts in force on the transition date on the basis of their existing carrying value, using updated future cash flow assumptions, and eliminate certain related amounts in accumulated other comprehensive income (loss) (“AOCI”). Under the full retrospective transition approach, the Company will apply the guidance as of the earliest period presented, using actual historical experience information as of contract inception, as if the accounting principle had always been applied. Given the nature and extent of the required changes, the adoption of this standard will have a significant impact on the Company’s Consolidated Financial Statements and disclosures. Based upon the elected transition methods, the Company expects the adoption of the standard to result in a decrease of approximately $3 billion in the Company’s total equity at the transition date of January 1, 2021. This impact is based on the economic conditions experienced at the transition date. The most significant drivers of the transition adjustment are: • changes to the measurement of certain benefits currently accounted for as insurance benefits (e.g., guaranteed minimum death benefits on variable annuities) which will be classified as market risk benefits upon adoption and remeasured at fair value, the impact of which is highly dependent on market conditions, including interest rates; • changes to the discount rate used to measure liabilities for future policyholder benefits which will be remeasured using current upper-medium grade fixed-income instrument yields, which are generally considered to be those on single-A rated public corporate debt; and • the removal of certain balances recorded in AOCI related to changes in unrealized appreciation (depreciation) on investments. In December 2022, the FASB issued ASU 2022-05, “Financial Services – Insurance: Transition for Sold Contracts”, which amends the guidance in ASU 2018-12 to allow an insurance entity to make an accounting policy election, on a transaction-by-transaction basis, to exclude contracts that meet certain criteria from applying the amendments in ASU 2018-12. ASU 2022-05 is effective consistent with the effective date of ASU 2018-12. The Company will adopt the standard effective January 1, 2023. The Company does not plan to make the accounting policy election and does not anticipate an impact to the Consolidated Financial Statements upon adoption.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Location of Significant Accounting Policies	The following table identifies our significant accounting policies presented in other Notes to Consolidated Financial Statements: Investments Note 4 Derivatives and Hedge Accounting Note 5 Fair Value Measurements Note 6 Deferred Acquisition Costs Note 7 Reinsurance Note 8 Reserves for Future Policy Benefits and Claims Payable and Other Contract Holder Funds Note 9 Certain Nontraditional Long-Duration Contracts and Variable Annuity Guarantees Note 10 Long-Term Debt Note 11 Income Taxes Note 13 Commitments, Contingencies, and Guarantees Note 14 Share-Based Compensation Note 16 Accumulated Other Comprehensive Income Note 21 Earnings Per Share Note 23

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Schedule of Certain Information with Respect to Segments	Set forth in the tables below is certain information with respect to the Company’s segments, as described above (in millions): For the Year Ended December 31, 2022 Retail Annuities Closed Life Institutional Corporate and Total Operating Revenues Fee income $ 4,108 $ 474 $ — $ 52 $ 4,634 Premiums 10 134 — — 144 Net investment income 403 706 312 65 1,486 Income on operating derivatives 17 31 (22) 14 40 Other income 42 35 — 8 85 Total Operating Revenues 4,580 1,380 290 139 6,389 Operating Benefits and Expenses Death, other policy benefits and change in policy 59 838 — — 897 Interest credited on other contract holder funds, net of deferrals and amortization 254 407 201 — 862 Interest expense 32 — 5 76 113 Operating costs and other expenses, net of deferrals 2,174 130 5 123 2,432 Amortization of deferred acquisition costs 435 6 — 12 453 Total Operating Benefits and Expenses 2,954 1,381 211 211 4,757 Pretax Adjusted Operating Earnings $ 1,626 $ (1) $ 79 $ (72) $ 1,632 For the Year Ended December 31, 2021 Retail Annuities Closed Life Institutional Corporate and Total Operating Revenues Fee income $ 4,636 $ 492 $ — $ 65 $ 5,193 Premiums 15 145 — — 160 Net investment income 692 950 260 55 1,957 Income on operating derivatives 52 72 (3) 32 153 Other income 47 39 — 8 94 Total Operating Revenues 5,442 1,698 257 160 7,557 Operating Benefits and Expenses Death, other policy benefits and change in policy 13 860 — — 873 Interest credited on other contract holder funds, net 226 420 188 — 834 Interest expense 22 — — 15 37 Operating costs and other expenses, net of deferrals 2,456 180 5 146 2,787 Amortization of deferred acquisition costs 197 14 — 34 245 Total Operating Benefits and Expenses 2,914 1,474 193 195 4,776 Pretax Adjusted Operating Earnings $ 2,528 $ 224 $ 64 $ (35) $ 2,781 For the Year Ended December 31, 2020 Retail Annuities Closed Life Institutional Corporate and Total Operating Revenues Fee income $ 3,806 $ 513 $ — $ 88 $ 4,407 Premiums 27 172 — — 199 Net investment income 956 778 355 (35) 2,054 Income on operating derivatives 48 58 — 21 127 Other income 30 25 1 8 64 Total Operating Revenues 4,867 1,546 356 82 6,851 Operating Benefits and Expenses Death, other policy benefits and change in policy 142 906 — — 1,048 Interest credited on other contract holder funds, 477 436 250 — 1,163 Interest expense 27 — 16 45 88 Operating costs and other expenses, net of deferrals 2,158 187 5 134 2,484 Amortization of deferred acquisition costs 57 17 — 20 94 Total Operating Benefits and Expenses 2,861 1,546 271 199 4,877 Pretax Adjusted Operating Earnings $ 2,006 $ — $ 85 $ (117) $ 1,974 The following table summarizes total assets by segment (in millions): December 31, 2022 2021 Retail Annuities $ 265,557 $ 327,194 Closed Life and Annuity Blocks 29,611 32,616 Institutional Products 10,175 10,713 Corporate and Other 5,715 5,036 Total Assets $ 311,058 $ 375,559
Schedule of Reconciliation of Segment Operating Revenues to Total Revenues	The following table summarizes the reconciling items from the non-GAAP measure of operating revenues to the GAAP measure of total revenues attributable to the Company (in millions): Years Ended December 31, 2022 2021 2020 Total operating revenues 6,389 7,557 $ 6,851 Fees attributed to variable annuity benefit reserves 3,077 2,854 2,509 Net gains (losses) on derivatives and investments 3,810 (2,631) (6,578) Net investment income (loss) related to noncontrolling interests 43 262 (3) Consolidated investments (22) 17 (25) Net investment income on funds withheld assets 1,254 1,188 792 Total revenues (1) $ 14,551 $ 9,247 $ 3,546 (1) Substantially all the Company's revenues originated in the U.S. There were no individual customers that exceeded 10% of total revenues.
Schedule of Reconciliation of Segment Operating Benefits and Expenses to Total Benefits and Expenses	The following table summarizes the reconciling items from the non-GAAP measure of operating benefits and expenses to the GAAP measure of total benefits and expenses attributable to the Company (in millions): Years Ended December 31, 2022 2021 2020 Total operating benefits and expenses 4,757 4,776 $ 4,877 Benefits attributed to variable annuity benefit reserves 238 119 150 Amortization of DAC and DSI related to non-operating revenues and expenses 1,288 275 (1,252) SOP 03-1 reserve movements 1,155 (22) 164 Athene reinsurance transaction — — 2,082 Other items 2 52 16 Total benefits and expenses $ 7,440 $ 5,200 $ 6,037
Schedule of Reconciliation of Segment Pretax Adjusted Operating Earnings to Net Income	The following table summarizes the reconciling items, net of deferred acquisition costs and deferred sales inducements, from the non-GAAP measure of pretax adjusted operating earnings to the GAAP measure of net income attributable to the Company (in millions): Years Ended December 31, 2022 2021 2020 Pretax adjusted operating earnings $ 1,632 $ 2,781 $ 1,974 Non-operating adjustments (income) loss: Fees attributable to guarantee benefit reserves 3,077 2,854 2,509 Net movement in freestanding derivatives (2,744) (5,674) (4,662) Net reserve and embedded derivative movements 2,891 2,753 (3,184) DAC and DSI impact (1,214) (266) 1,261 Assumption changes 367 24 128 Net realized investment gains (losses) including change in fair value of funds withheld embedded derivative 1,827 161 817 Loss on funds withheld reinsurance transaction — — (2,082) Net investment income on funds withheld assets 1,254 1,188 792 Other items (22) (36) (41) Pretax income (loss) attributable to Jackson Financial Inc. 7,068 3,785 (2,488) Income tax expense (benefit) 1,371 602 (854) Net income (loss) attributable to Jackson Financial Inc. $ 5,697 $ 3,183 $ (1,634)

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule Of Composition Of Fair Value Of Debt Securities Classified By Rating	At December 31, 2022 and 2021, the carrying value of investments rated by the Company’s consolidated investment advisor totaled $32 million and $13 million, respectively. Percent of Total Debt December 31, Investment Rating 2022 2021 AAA 17.9% 14.5% AA 8.2% 9.6% A 29.9% 28.5% BBB 36.4% 40.9% Investment grade 92.4% 93.5% BB 3.9% 3.6% B and below 3.7% 2.9% Below investment grade 7.6% 6.5% Total debt securities 100.0% 100.0%
Schedule of Debt Securities - Amortized Cost, Gross Unrealized Gains and Losses, Fair Value and Allowance for Credit Loss and Maturities	At December 31, 2022 and 2021, the amortized cost, ACL, gross unrealized gains and losses, and fair value of debt securities, including trading securities and securities carried at fair value under the fair value option, were as follows (in millions): Allowance Gross Gross Amortized for Unrealized Unrealized Fair December 31, 2022 Cost (1) Credit Loss Gains Losses Value U.S. government securities $ 6,192 $ — $ 1 $ 1,008 $ 5,185 Other government securities 1,719 2 1 251 1,467 Public utilities 5,893 — 27 695 5,225 Corporate securities 28,803 15 59 3,701 25,146 Residential mortgage-backed 510 6 19 59 464 Commercial mortgage-backed 1,821 — — 183 1,638 Other asset-backed securities 6,133 — 8 504 5,637 Total debt securities $ 51,071 $ 23 $ 115 $ 6,401 $ 44,762 Allowance Gross Gross Amortized for Unrealized Unrealized Fair December 31, 2021 Cost (1) Credit Loss Gains Losses Value U.S. government securities $ 4,525 $ — $ 97 $ 301 $ 4,321 Other government securities 1,489 — 147 17 1,619 Public utilities 6,069 — 671 25 6,715 Corporate securities 29,701 — 1,682 237 31,146 Residential mortgage-backed 528 2 46 3 569 Commercial mortgage-backed 1,968 — 76 6 2,038 Other asset-backed securities 6,926 7 71 23 6,967 Total debt securities $ 51,206 $ 9 $ 2,790 $ 612 $ 53,375 (1) Amortized cost, apart from the carrying value for securities carried at fair value under the fair value option and trading securities. The amortized cost, ACL, gross unrealized gains and losses, and fair value of debt securities at December 31, 2022, by contractual maturity, are shown below (in millions). Actual maturities may differ from contractual maturities where securities can be called or prepaid with or without early redemption penalties. Allowance Gross Gross Amortized for Unrealized Unrealized Fair Cost (1) Credit Loss Gains Losses Value Due in 1 year or less $ 2,472 $ — $ — $ 7 $ 2,465 Due after 1 year through 5 years 9,761 3 15 435 9,338 Due after 5 years through 10 years 13,477 11 26 1,541 11,951 Due after 10 years through 20 years 9,165 3 46 1,658 7,550 Due after 20 years 7,732 — 1 2,014 5,719 Residential mortgage-backed 510 6 19 59 464 Commercial mortgage-backed 1,821 — — 183 1,638 Other asset-backed securities 6,133 — 8 504 5,637 Total $ 51,071 $ 23 $ 115 $ 6,401 $ 44,762 (1) Amortized cost, apart from the carrying value for securities carried at fair value under the fair value option and trading securities.
Schedule of Residential Mortgage-Backed Securities	The Company’s non-agency RMBS include investments in securities backed by prime, Alt-A, and subprime loans as follows (in millions): Allowance Gross Gross Amortized for Unrealized Unrealized Fair December 31, 2022 Cost (1) Credit Loss Gains Losses Value Prime $ 206 $ 4 $ 2 $ 30 $ 174 Alt-A 84 2 7 10 79 Subprime 27 — 10 1 36 Total non-agency RMBS $ 317 $ 6 $ 19 $ 41 $ 289 Allowance Gross Gross Amortized for Unrealized Unrealized Fair December 31, 2021 Cost (1) Credit Loss Gains Losses Value Prime $ 228 $ 1 $ 10 $ 2 $ 235 Alt-A 94 1 21 — 114 Subprime 39 — 13 — 52 Total non-agency RMBS $ 361 $ 2 $ 44 $ 2 $ 401 (1) Amortized cost, apart from carrying value for securities carried at fair value under the fair value option and trading securities.
Schedule of Debt Securities in Continuous Unrealized Loss Position	The following tables summarize the amount of gross unrealized losses, fair value and the number of securities aggregated by investment category and length of time that individual debt securities have been in a continuous loss position (dollars in millions): December 31, 2022 December 31, 2021 Less than 12 months Less than 12 months Gross Fair Gross Fair Unrealized # of Unrealized # of Losses securities Losses securities U.S. government securities $ 339 $ 2,815 40 $ 2 $ 107 16 Other government securities 174 1,258 143 17 252 23 Public utilities 508 4,279 490 17 721 93 Corporate securities 2,087 17,068 2,323 180 6,343 728 Residential mortgage-backed 43 279 196 3 174 109 Commercial mortgage-backed 138 1,421 177 5 314 37 Other asset-backed securities 282 3,485 417 22 3,224 338 Total temporarily impaired securities $ 3,571 $ 30,605 3,786 $ 246 $ 11,135 1,344 12 months or longer 12 months or longer Gross Fair Gross Fair Unrealized # of Unrealized # of Losses securities Losses securities U.S. government securities $ 669 $ 1,386 6 $ 299 $ 3,190 7 Other government securities 77 177 23 — 4 2 Public utilities 187 520 87 7 99 8 Corporate securities 1,614 4,601 644 58 661 69 Residential mortgage-backed 16 81 94 — 11 12 Commercial mortgage-backed 45 192 31 1 30 3 Other asset-backed securities 222 1,551 171 1 11 3 Total temporarily impaired securities $ 2,830 $ 8,508 1,056 $ 366 $ 4,006 104 Total Total Gross Fair Gross Fair Unrealized # of Unrealized # of Losses securities (1) Losses securities (1) U.S. government securities $ 1,008 $ 4,201 42 $ 301 $ 3,297 21 Other government securities 251 1,435 162 17 256 25 Public utilities 695 4,799 562 24 820 98 Corporate securities 3,701 21,669 2,806 238 7,004 776 Residential mortgage-backed 59 360 290 3 185 121 Commercial mortgage-backed 183 1,613 206 6 344 39 Other asset-backed securities 504 5,036 577 23 3,235 341 Total temporarily impaired securities $ 6,401 $ 39,113 4,645 $ 612 $ 15,141 1,421 (1) Certain securities contain multiple lots and fit the criteria of both aging groups.
Schedule of Rollforward of Debt Securities Allowance for Credit Loss	The roll forward of the allowance for credit loss for available-for-sale securities by sector is as follows (in millions): December 31, 2022 US Other government securities Public Corporate securities Residential mortgage-backed Commercial mortgage-backed Other Total Balance at January 1, 2022 $ — $ — $ — $ — $ 2 $ — $ 7 $ 9 Additions for which credit loss was not previously recorded — 6 1 43 4 — — 54 Changes for securities with previously recorded credit loss — — (1) (10) — — (7) (18) Additions for purchases of PCD debt securities (1) — — — — — — — — Reductions from charge-offs — — — — — — — — Reductions for securities disposed — (4) — (1) — — — (5) Securities intended/required to be sold before recovery of amortized cost basis — — — (17) — — — (17) Balance at December 31, 2022 (2) $ — $ 2 $ — $ 15 $ 6 $ — $ — $ 23 December 31, 2021 US Other government securities Public Corporate securities Residential mortgage-backed Commercial mortgage-backed Other Total Balance at January 1, 2021 $ — $ — $ — $ — $ — $ — $ 14 $ 14 Additions for which credit loss was not previously recorded — — — — 2 — — 2 Changes for securities with previously recorded credit loss — — — — — — 9 9 Additions for purchases of PCD debt securities (1) — — — — — — — — Reductions from charge-offs — — — — — — — — Reductions for securities disposed — — — — — — (16) (16) Securities intended/required to be sold before recovery of amortized cost basis — — — — — — — — Balance at December 31, 2021 (2) $ — $ — $ — $ — $ 2 $ — $ 7 $ 9 (1) Represents purchased credit-deteriorated ("PCD") fixed maturity available-for-sale securities. (2) Accrued interest receivable on debt securities totaled $407 million and $381 million as of December 31, 2022 and 2021, respectively, and was excluded from the determination of credit losses for the years ended December 31, 2022 and 2021.
Schedule of Sources of Net Investment Income	The sources of net investment income were as follows (in millions): Years Ended December 31, 2022 2021 2020 Debt securities (1) $ 1,076 $ 1,154 $ 1,617 Equity securities (16) 8 (14) Mortgage loans 285 319 365 Policy loans 69 73 79 Limited partnerships 144 795 105 Other investment income 49 13 12 Total investment income excluding funds withheld assets 1,607 2,362 2,164 Net investment income on funds withheld assets (see Note 8) 1,254 1,188 792 Investment expenses (100) (126) (138) Net investment income $ 2,761 $ 3,424 $ 2,818 (1) Includes changes in fair value gains (losses) on trading securities and includes $(149) million, $26 million and $(25) million for the years ended December 31, 2022, 2021 and 2020, respectively, related to the change in fair value for securities carried under the fair value option. The sources of income related to funds withheld under reinsurance treaties reported in net investment income in the Consolidated Income Statements were as follows (in millions): Years Ended December 31, 2022 2021 2020 Debt securities (1) $ 680 $ 762 $ 490 Equity securities (34) 5 2 Mortgage loans (2) 231 179 51 Policy loans 312 314 315 Limited partnerships 149 35 — Other investment income 1 — — Total investment income on funds withheld assets 1,339 1,295 858 Other investment expenses on funds withheld assets (3) (85) (107) (66) Total net investment income on funds withheld reinsurance treaties $ 1,254 $ 1,188 $ 792 (1) Includes $(10) million, $(3) million, and $2 million for the years ended December 31, 2022, 2021 and 2020, respectively, related to the change in fair value for securities carried under the fair value option. (2) Includes $(7) million for the year ended December 31, 2022, and nil for the years ended December 31, 2021 and 2020 respectively, related to the change in fair value for mortgage loans carried under the fair value option. (3) Includes management fees.
Schedule of Net Gains (Losses) on Derivatives and Investments	The following table summarizes net gains (losses) on derivatives and investments (in millions): Years Ended December 31, 2022 2021 2020 Available-for-sale securities Realized gains on sale $ 41 $ 169 $ 778 Realized losses on sale (429) (88) (196) Credit loss income (expense) (5) (10) (14) Gross impairments — — (27) Credit loss income (expense) on mortgage loans (16) 62 (61) Other (1) 50 49 (103) Net gains (losses) excluding derivatives and funds withheld assets (359) 182 377 Net gains (losses) on derivative instruments (see Note 5) 2,024 (2,639) (7,268) Net gains (losses) on funds withheld reinsurance treaties (see Note 8) 2,186 (21) 440 Total net gains (losses) on derivatives and investments $ 3,851 $ (2,478) $ (6,451) (1) Includes the foreign currency gain or loss related to foreign denominated trust instruments supporting funding agreements.
Schedule of Asset and Liability Information for Consolidated VIEs	Asset and liability information for the consolidated VIEs included on the Consolidated Balance Sheets are as follows (in millions): December 31, 2022 December 31, 2021 Assets Debt securities, at fair value under fair value option $ 2,014 $ 1,546 Debt securities, trading 100 117 Equity securities 127 129 Other invested assets 1,507 1,309 Cash and cash equivalents 75 120 Other assets 19 45 Total assets $ 3,842 $ 3,266 Liabilities Notes issued by consolidated VIEs, at fair value under fair value option $ 1,732 $ 1,404 Other liabilities 343 307 Total other liabilities 2,075 1,711 Securities lending payable 4 4 Total liabilities $ 2,079 $ 1,715 Equity Noncontrolling interests $ 732 $ 680
Schedule of Rollforward of Mortgagees Allowance for Credit Loss	The following table provides a summary of the allowance for credit losses in the Company’s mortgage loan portfolios (in millions): December 31, 2022 Apartment Hotel Office Retail Warehouse Residential Mortgage Total Balance at January 1, 2022 $ 19 $ 9 $ 28 $ 17 $ 12 $ 9 $ 94 Charge offs, net of recoveries — — — — — — — Additions from purchase of PCD mortgage loans — — — — — — — Provision (release) (1) 11 (13) 5 4 (5) 1 Balance at December 31, 2022 (1) $ 18 $ 20 $ 15 $ 22 $ 16 $ 4 $ 95 December 31, 2021 Apartment Hotel Office Retail Warehouse Residential Mortgage Total Balance at January 1, 2021 $ 58 $ 34 $ 25 $ 24 $ 24 $ 14 $ 179 Charge offs, net of recoveries — — — — — — — Additions from purchase of PCD mortgage loans — — — — — — — Provision (release) (39) (25) 3 (7) (12) (5) (85) Balance at December 31, 2021 (1) $ 19 $ 9 $ 28 $ 17 $ 12 $ 9 $ 94 (1) Accrued interest receivable totaled $48 million and $44 million as of December 31, 2022 and 2021, respectively, and was excluded from the determination of credit losses.
Schedule of Information About Credit Quality and Vintage Year of Commercial Mortgage Loans	The following tables provide information about the credit quality and vintage year of mortgage loans (in millions): December 31, 2022 2022 2021 2020 2019 2018 Prior Revolving Total % of Commercial mortgage loans Loan to value ratios: Less than 70% $ 771 $ 1,266 $ 1,171 $ 1,473 $ 1,480 $ 3,421 $ 4 $ 9,586 94 % 70% - 80% 125 190 32 13 5 59 — 424 4 % 80% - 100% — 152 — — 5 40 — 197 2 % Greater than 100% — — — 25 — 9 — 34 — % Total commercial mortgage loans 896 1,608 1,203 1,511 1,490 3,529 4 10,241 100 % Debt service coverage ratios: Greater than 1.20x 694 1,092 955 1,387 1,324 3,211 4 8,667 85 % 1.00x - 1.20x 202 372 106 83 34 172 — 969 9 % Less than 1.00x — 144 142 41 132 146 — 605 6 % Total commercial mortgage loans 896 1,608 1,203 1,511 1,490 3,529 4 10,241 100 % Residential mortgage loans Performing 413 308 49 37 14 409 — 1,230 94 % Nonperforming (1) 6 11 8 6 7 40 — 78 6 % Total residential mortgage loans 419 319 57 43 21 449 — 1,308 100 % Total mortgage loans $ 1,315 $ 1,927 $ 1,260 $ 1,554 $ 1,511 $ 3,978 $ 4 $ 11,549 100 % December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Total % of Commercial mortgage loans Loan to value ratios: Less than 70% $ 1,270 $ 1,346 $ 1,592 $ 1,599 $ 1,305 $ 2,703 $ 4 $ 9,819 93 % 70% - 80% 345 35 — 52 85 153 — 670 6 % 80% - 100% — — 39 5 — — — 44 — % Greater than 100% — — — — — 10 — 10 — % Total commercial mortgage loans 1,615 1,381 1,631 1,656 1,390 2,866 4 10,543 100 % Debt service coverage ratios: Greater than 1.20x 796 974 1,532 1,293 1,257 2,609 4 8,465 80 % 1.00x - 1.20x 651 329 81 90 11 68 — 1,230 12 % Less than 1.00x 168 78 18 273 122 189 — 848 8 % Total commercial mortgage loans 1,615 1,381 1,631 1,656 1,390 2,866 4 10,543 100 % Residential mortgage loans Performing 268 22 18 16 7 396 — 727 77 % Nonperforming 4 44 22 19 23 100 — 212 23 % Total residential mortgage loans 272 66 40 35 30 496 — 939 100 % Total mortgage loans $ 1,887 $ 1,447 $ 1,671 $ 1,691 $ 1,420 $ 3,362 $ 4 $ 11,482 100 % December 31, 2022 In Good Standing (1) Restructured Greater than 90 Days Delinquent In the Process of Foreclosure Total Carrying Value Apartment $ 3,558 $ — $ — $ — $ 3,558 Hotel 1,015 — — — 1,015 Office 1,795 — — — 1,795 Retail 2,085 — — — 2,085 Warehouse 1,788 — — — 1,788 Total commercial 10,241 — — — 10,241 Residential (2) 1,230 — 63 15 1,308 Total $ 11,471 $ — $ 63 $ 15 $ 11,549 December 31, 2021 In Good Standing (1) Restructured Greater than 90 Days Delinquent In the Process of Foreclosure Total Carrying Value Apartment $ 3,755 $ — $ — $ — $ 3,755 Hotel 1,054 — — — 1,054 Office 1,889 — — — 1,889 Retail 2,104 — — — 2,104 Warehouse 1,741 — — — 1,741 Total commercial 10,543 — — — 10,543 Residential 727 — 206 6 939 Total $ 11,270 $ — $ 206 $ 6 $ 11,482 (1) At December 31, 2022 and 2021, includes mezzanine loans of $410 million and $278 million in the Apartment category, $41 million and $75 million in the Hotel category, $236 million and $252 million in the Office category, $43 million and $27 million in the Retail category, and $140 million and $26 million in the Warehouse category, respectively. (2) At December 31, 2022 and 2021, includes $41 million and $202 million of loans purchased when the loans were greater than 90 days delinquent and $12 million and $5 million of loans in process of foreclosure are supported with insurance or other guarantees provided by various governmental programs, respectively.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Aggregate Contractual Notional Amounts and Fair Values of Derivatives	A summary of the aggregate contractual or notional amounts and fair values of the Company’s freestanding and embedded derivative instruments are as follows (in millions): December 31, 2022 Contractual/ Assets Liabilities Net Notional Fair Fair Fair Value Amount (1) Value Value Asset (Liability) Freestanding derivatives Cross-currency swaps $ 1,825 $ 73 $ 104 $ (31) Equity index call options 17,500 106 — 106 Equity index futures (2) 19,760 — — — Equity index put options 30,500 958 — 958 Interest rate swaps 7,728 5 231 (226) Interest rate swaps - cleared (2) 1,500 — — — Put-swaptions 25,000 — 1,711 (1,711) Interest rate futures (2) 105,261 — — — Total return swaps 739 31 — 31 Total freestanding derivatives 209,813 1,173 2,046 (873) Embedded derivatives Variable annuity embedded derivatives (3) N/A 2,154 — 2,154 Fixed index annuity embedded derivatives (4) N/A — 931 (931) Registered index linked annuity embedded derivatives (4) N/A — 205 (205) Total embedded derivatives N/A 2,154 1,136 1,018 Derivatives related to funds withheld under reinsurance treaties Cross-currency swaps 158 23 1 22 Cross-currency forwards 1,490 74 18 56 Funds withheld embedded derivative (5) N/A 3,158 — 3,158 Total derivatives related to funds withheld under reinsurance treaties 1,648 3,255 19 3,236 Total $ 211,461 $ 6,582 $ 3,201 $ 3,381 (1) The notional amount for swaps and swaptions represents the stated principal balance used as a basis for calculating payments. The contractual amount for futures and options represents the market exposure of open positions. (2) Variation margin is considered settlement resulting in the netting of cash received/paid for variation margin against the fair value of the trades. (3) Variable annuity net embedded derivatives are included within reserves for future policy benefits and claims payable on the Consolidated Balance Sheets. The nonperformance risk adjustment is included in the balance above. (4) Included within other contract holder funds on the Consolidated Balance Sheets. The nonperformance risk adjustment is included in the balance above. (5) Included within funds withheld payable under reinsurance treaties on the Consolidated Balance Sheets. December 31, 2021 Contractual/ Assets Liabilities Net Notional Fair Fair Fair Value Amount (1) Value Value Asset (Liability) Freestanding derivatives Cross-currency swaps $ 1,767 $ 55 $ 35 $ 20 Equity index call options 21,000 606 — 606 Equity index futures (2) 18,258 — — — Equity index put options 27,500 150 — 150 Interest rate swaps 7,728 430 — 430 Interest rate swaps - cleared (2) 1,500 — — — Put-swaptions 19,000 133 — 133 Interest rate futures (2) 912 — — — Total freestanding derivatives 97,665 1,374 35 1,339 Embedded derivatives Variable annuity embedded derivatives (3) N/A — 2,626 (2,626) Fixed index annuity embedded derivatives (4) N/A — 1,439 (1,439) Registered index linked annuity embedded derivatives (4) N/A — 6 (6) Total embedded derivatives N/A — 4,071 (4,071) Derivatives related to funds withheld under reinsurance treaties Cross-currency swaps 158 10 1 9 Cross-currency forwards 1,119 33 5 28 Funds withheld embedded derivative (5) N/A — 120 (120) Total derivatives related to funds withheld under reinsurance treaties 1,277 43 126 (83) Total $ 98,942 $ 1,417 $ 4,232 $ (2,815) (1) The notional amount for swaps and swaptions represents the stated principal balance used as a basis for calculating payments. The contractual amount for futures and options represents the market exposure of open positions. (2) Variation margin is considered settlement resulting in the netting of cash received/paid for variation margin against the fair value of the trades. (3) Variable annuity net embedded derivatives are included within reserves for future policy benefits and claims payable on the Consolidated Balance Sheets. The nonperformance risk adjustment is included in the balance above. (4) Included within other contract holder funds on the Consolidated Balance Sheets. The nonperformance risk adjustment is included in the balance above. (5) Included within funds withheld payable under reinsurance treaties on the Consolidated Balance Sheets.
Schedule of Gains and Losses, and Change in Fair Value of Derivatives	The following table reflects the results of the Company’s derivatives, including gains (losses) and change in fair value of freestanding derivative instruments and embedded derivatives (in millions): Years Ended December 31, 2022 2021 2020 Derivatives excluding funds withheld under reinsurance treaties Cross-currency swaps $ (67) $ (36) $ 74 Equity index call options (1,830) 1,479 1,468 Equity index futures 3,005 (4,663) (8,286) Equity index put options (244) (1,202) (218) Interest rate swaps (615) (179) 578 Interest rate swaps - cleared (201) (64) 1 Put-swaptions (1,832) 134 199 Interest rate futures (925) (989) 1,650 Total return swaps 5 — — Fixed index annuity embedded derivatives 3 (5) 30 Registered index linked annuity embedded derivatives 37 (1) — Variable annuity embedded derivatives 4,688 2,887 (2,764) Total net gains (losses) on derivative instruments excluding derivative instruments related to funds withheld under reinsurance treaties 2,024 (2,639) (7,268) Derivatives related to funds withheld under reinsurance treaties Cross-currency swaps 14 15 (5) Cross-currency forwards 79 42 (19) Treasury futures — — (204) Funds withheld embedded derivative 3,278 707 (827) Total net gains (losses) on derivative instruments related to funds withheld under reinsurance treaties 3,371 764 (1,055) Total net gains (losses) on derivative instruments including derivative instruments related to funds withheld under reinsurance treaties $ 5,395 $ (1,875) $ (8,323)
Schedule of Gross and Net Information About Financial Instruments Subject to Master Netting Arrangements - Assets	The following tables present the gross and net information about the Company’s financial instruments subject to master netting arrangements (in millions): December 31, 2022 Gross Gross Net Amounts Gross Amounts Not Offset Financial Instruments (1) Cash Securities Collateral (2) Net Financial Assets: Freestanding derivative assets $ 1,270 $ — $ 1,270 $ 385 $ 683 $ 157 $ 45 Financial Liabilities: Freestanding derivative liabilities $ 2,065 $ — $ 2,065 $ 385 $ — $ 1,638 $ 42 Securities loaned 36 — 36 — 36 — — Repurchase agreements 1,012 — 1,012 — — 1,012 — Total financial liabilities $ 3,113 $ — $ 3,113 $ 385 $ 36 $ 2,650 $ 42 (1) Represents the amount that could be offset under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets. (2) Excludes initial margin amounts for exchange-traded derivatives. December 31, 2021 Gross Gross Net Amounts Gross Amounts Not Offset Financial Instruments (1) Cash Securities Collateral (2) Net Financial Assets: Freestanding derivative assets $ 1,417 $ — $ 1,417 $ 41 $ 817 $ 555 $ 4 Financial Liabilities: Freestanding derivative liabilities $ 41 $ — $ 41 $ 41 $ — $ — $ — Securities loaned 17 — 17 — 17 — — Repurchase agreements 1,572 — 1,572 — — 1,572 — Total financial liabilities $ 1,630 $ — $ 1,630 $ 41 $ 17 $ 1,572 $ — (1) Represents the amount that could be offset under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets. (2) Excludes initial margin amounts for exchange-traded derivatives.
Schedule of Gross and Net Information About Financial Instruments Subject to Master Netting Arrangements - Liabilities	The following tables present the gross and net information about the Company’s financial instruments subject to master netting arrangements (in millions): December 31, 2022 Gross Gross Net Amounts Gross Amounts Not Offset Financial Instruments (1) Cash Securities Collateral (2) Net Financial Assets: Freestanding derivative assets $ 1,270 $ — $ 1,270 $ 385 $ 683 $ 157 $ 45 Financial Liabilities: Freestanding derivative liabilities $ 2,065 $ — $ 2,065 $ 385 $ — $ 1,638 $ 42 Securities loaned 36 — 36 — 36 — — Repurchase agreements 1,012 — 1,012 — — 1,012 — Total financial liabilities $ 3,113 $ — $ 3,113 $ 385 $ 36 $ 2,650 $ 42 (1) Represents the amount that could be offset under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets. (2) Excludes initial margin amounts for exchange-traded derivatives. December 31, 2021 Gross Gross Net Amounts Gross Amounts Not Offset Financial Instruments (1) Cash Securities Collateral (2) Net Financial Assets: Freestanding derivative assets $ 1,417 $ — $ 1,417 $ 41 $ 817 $ 555 $ 4 Financial Liabilities: Freestanding derivative liabilities $ 41 $ — $ 41 $ 41 $ — $ — $ — Securities loaned 17 — 17 — 17 — — Repurchase agreements 1,572 — 1,572 — — 1,572 — Total financial liabilities $ 1,630 $ — $ 1,630 $ 41 $ 17 $ 1,572 $ — (1) Represents the amount that could be offset under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets. (2) Excludes initial margin amounts for exchange-traded derivatives.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value and Carrying Value of Financial Instruments	The following table summarizes the fair value and carrying value of the Company’s financial instruments (in millions): December 31, 2022 December 31, 2021 Carrying Fair Carrying Fair Assets Debt securities (1) $ 44,762 $ 44,762 $ 53,375 $ 53,375 Equity securities 393 393 279 279 Mortgage loans (1) 11,549 10,841 11,482 11,910 Limited partnerships 3,212 3,212 2,831 2,831 Policy loans (1) 4,377 4,377 4,475 4,475 Freestanding derivative instruments 1,270 1,270 1,417 1,417 Federal Home Loan Bank of Indianapolis ("FHLBI") capital stock 146 146 125 125 Cash and cash equivalents 4,298 4,298 2,623 2,623 GMIB reinsurance recoverable 170 170 262 262 Separate account assets 195,906 195,906 248,949 248,949 Liabilities Annuity reserves (2) 35,203 30,223 40,389 48,711 Reserves for guaranteed investment contracts (3) 1,128 1,099 894 923 Trust instruments supported by funding agreements (3) 5,887 5,760 5,986 6,175 FHLB funding agreements (3) 2,004 2,104 1,950 1,938 Funds withheld payable under reinsurance treaties (1) 22,957 22,957 29,007 29,007 Long-term debt 2,635 2,344 2,649 2,745 Securities lending payable 36 36 17 17 Freestanding derivative instruments 2,065 2,065 41 41 Notes issued by consolidated VIEs 1,732 1,732 1,404 1,404 Repurchase agreements 1,012 1,012 1,572 1,572 Separate account liabilities 195,906 195,906 248,949 248,949 (1) Includes items carried at fair value under the fair value option and trading securities. (2) Annuity reserves represent only the components of other contract holder funds and reserves for future policy benefits and claims payable that are considered to be financial instruments. The fair value amounts shown in the table for 2021 have been revised for an immaterial error related to the historical disclosure for annuity reserves not reported at fair value within the Fair Value Measurement note to the Consolidated Financial Statements. The prior period error did not impact the Consolidated Balance Sheets. (3) Included as a component of other contract holder funds on the Consolidated Balance Sheets.
Schedule of Fair Value Option, Disclosures	The fair value and aggregate contractual principal for mortgage loans where the fair value option was elected after December 31, 2021, were as follows (in millions): December 31, 2022 Fair value $ 582 Aggregate contractual principal 591
Schedule of Assets and Liabilities Carried at Fair Value by Hierarchy Levels	The following tables summarize the Company’s assets and liabilities that are carried at fair value by hierarchy levels (in millions): December 31, 2022 Total Level 1 Level 2 Level 3 Assets Debt securities U.S. government securities $ 5,185 $ 5,184 $ 1 $ — Other government securities 1,467 — 1,467 — Public utilities 5,225 — 5,225 — Corporate securities 25,146 — 25,090 56 Residential mortgage-backed 464 — 464 — Commercial mortgage-backed 1,638 — 1,638 — Other asset-backed securities 5,637 — 5,637 — Equity securities 393 165 106 122 Mortgage loans 582 — — 582 Limited partnerships (1) 440 — — 440 Policy loans 3,419 — — 3,419 Freestanding derivative instruments 1,270 — 1,270 — Cash and cash equivalents 4,298 4,298 — — GMIB reinsurance recoverable 170 — — 170 Separate account assets 195,906 — 195,906 — Total $ 251,240 $ 9,647 $ 236,804 $ 4,789 Liabilities Embedded derivative (assets) liabilities (2) $ (1,018) $ — $ 1,136 $ (2,154) Funds withheld payable under reinsurance treaties (3) 424 — — 424 Freestanding derivative instruments 2,065 — 2,065 — Notes issued by consolidated VIEs 1,732 — 1,732 — Total $ 3,203 $ — $ 4,933 $ (1,730) (1) Excludes $2,772 million of limited partnership investments measured at NAV. (2) Includes net embedded derivative (assets) liabilities of $(2,154) million related to GMWB reserves included in reserves for future policy benefits and claims payable, and $205 million related to RILA and $931 million of fixed index annuities, both included in other contract holder funds on the Consolidated Balance Sheets. (3) Includes the Athene Embedded Derivative asset of $3,158 million and funds withheld payable under reinsurance treaties at fair value under the fair value option. December 31, 2021 Total Level 1 Level 2 Level 3 Assets Debt securities U.S. government securities $ 4,321 $ 4,321 $ — $ — Other government securities 1,619 — 1,619 — Public utilities 6,715 — 6,715 — Corporate securities 31,146 — 31,137 9 Residential mortgage-backed 569 — 569 — Commercial mortgage-backed 2,038 — 2,038 — Other asset-backed securities 6,967 — 6,967 — Equity securities 279 111 56 112 Limited partnerships (1) 413 — 17 396 Policy loans 3,467 — — 3,467 Freestanding derivative instruments 1,417 — 1,417 — Cash and cash equivalents 2,623 2,623 — — GMIB reinsurance recoverable 262 — — 262 Separate account assets 248,949 — 248,949 — Total $ 310,785 $ 7,055 $ 299,484 $ 4,246 Liabilities Embedded derivative (assets) liabilities (2) $ 4,071 $ — $ 1,445 $ 2,626 Funds withheld payable under reinsurance treaties (3) 3,759 — — 3,759 Freestanding derivative instruments 41 — 41 — Notes issued by consolidated VIEs 1,404 — 1,404 — Total $ 9,275 $ — $ 2,890 $ 6,385 (1) Excludes $2,418 million of limited partnership investments measured at NAV. The fair value amounts shown in the table and the amount disclosed as measured at NAV have been revised for an immaterial error related to the historical disclosure of certain limited partnerships which are measured using a Level 3 fair value measurement as being measured using NAV as a practical expedient within the Fair Value Measurement note to the consolidated financial statements. The prior period error did not impact the Consolidated Balance Sheets. (2) Includes net embedded derivative (assets) liabilities of $2,626 million related to GMWB reserves included in reserves for future policy benefits and claims payable, and $6 million related to RILA and $1,439 million of fixed index annuities, both included in other contract holder funds on the Consolidated Balance Sheets. (3) Includes the Athene Embedded Derivative liability of $120 million and funds withheld payable under reinsurance treaties at fair value under the fair value option.
Schedule of Balances of Level 3 Assets and Liabilities Measured at Fair Value with Corresponding Pricing Sources	The table below presents the balances of Level 3 assets and liabilities measured at fair value with their corresponding pricing sources (in millions): December 31, 2022 Assets Total Internal External Debt securities: Corporate $ 56 $ — $ 56 Equity securities 122 1 121 Mortgage loans 582 — 582 Limited partnerships 440 8 432 Policy loans 3,419 3,419 — GMIB reinsurance recoverable 170 170 — Total $ 4,789 $ 3,598 $ 1,191 Liabilities Embedded derivative (assets) liabilities (1) $ (2,154) $ (2,154) $ — Funds withheld payable under reinsurance treaties (2) 424 424 — Total $ (1,730) $ (1,730) $ — (1) Includes the net embedded derivative (asset) liability related to GMWB reserves presented in reserves for future policy benefits and claims payable. (2) Includes the Athene Embedded Derivative asset of $3,158 million and funds withheld payable under reinsurance treaties at fair value under the fair value option. December 31, 2021 Assets Total Internal External Debt securities: Corporate $ 9 $ — $ 9 Equity securities 112 1 111 Limited partnerships (3) 396 1 395 Policy loans 3,467 3,467 — GMIB reinsurance recoverable 262 262 — Total $ 4,246 $ 3,731 $ 515 Liabilities Embedded derivative (assets) liabilities (1) $ 2,626 $ 2,626 $ — Funds withheld payable under reinsurance treaties (2) 3,759 3,759 — Total $ 6,385 $ 6,385 $ — (1) Includes the net embedded derivative (asset) liability related to GMWB reserves presented in reserves for future policy benefits and claims payable. (2) Includes the Athene Embedded Derivative liability of $120 million and funds withheld payable under reinsurance treaties at fair value under the fair value option. (3) The fair value amounts shown in the table have been revised for an immaterial error related to the historical disclosure of certain limited partnerships which are measured using a Level 3 fair value measurement as being measured using NAV as a practical expedient within the Fair Value Measurement note to the consolidated financial statements. The prior period error did not impact the consolidated balance sheets.
Schedule of Quantitative Information on Significant Internally-Priced Level 3 Assets and Liabilities	The table below presents quantitative information on internally priced Level 3 assets and liabilities that use significant unobservable inputs (in millions): As of December 31, 2022 Fair Valuation Technique(s) Significant Unobservable Input(s) Assumption or Input Range Impact of Increase in Input on Fair Value Assets GMIB reinsurance recoverable $ 170 Discounted cash flow Mortality (1) 0.01% - 51.25% Decrease Lapse (2) 2.97% - 8.10% Decrease Utilization (3) 0.00% - 20.00% Increase Withdrawal (4) 4.75% - 5.25% Increase Nonperformance risk adjustment (5) 0.64% - 2.27% Decrease Long-term Equity Volatility (6) 18.50% - 23.68% Increase Liabilities Embedded derivative (assets) liabilities $ (2,154) Discounted cash flow Mortality (1) 0.04% - 49.20% Decrease Lapse (2) 0.12% - 41.28% Decrease Utilization (3) 1.35% - 100.00% Increase Withdrawal (4) 58.75% - 100.00% Increase Nonperformance risk adjustment (5) 0.64% - 2.27% Decrease Long-term Equity Volatility (6) 18.50% - 23.68% Increase (1) Mortality rates vary by attained age, tax qualification status, GMWB benefit election, and duration. The range displayed reflects ages from the minimum issue age for the benefit through age 95, which corresponds to the typical maturity age. A mortality improvement assumption is also applied. (2) Base lapse rates vary by contract-level factors, such as product type, surrender charge schedule and optional benefits election. Lapse rates are further adjusted based on the degree to which a guaranteed benefit is in-the-money, with lower lapse applying when benefits are more in-the-money. Lapse rates are also adjusted to reflect lower lapse expectations when GMWB benefits are utilized. (3) The utilization rate represents the expected percentage of contracts that will utilize the benefit through annuitization (GMIB) or commencement of withdrawals (GMWB). Utilization may vary by benefit type, attained age, duration, tax qualification status, benefit provision, and degree to which the guaranteed benefit is in-the-money. (4) The withdrawal rate represents the utilization rate of the contract’s free partial withdrawal provision (GMIB) or the percentage of annual withdrawal assumed relative to the maximum allowable withdrawal amount (GMWB). Withdrawal rates on contracts with a GMIB vary based on the product type and duration. Withdrawal rates on contracts with a GMWB vary based on attained age, tax qualification status, GMWB type and GMWB benefit provisions. (5) Nonperformance risk adjustment is applied as a spread over the risk-free rate to determine the rate used to discount the related cash flows and varies by projection year. (6) Long-term equity volatility represents the equity volatility beyond the period for which observable equity volatilities are available. As of December 31, 2021 Fair Valuation Technique(s) Significant Unobservable Input(s) Assumption or Input Range Impact of Increase in Input on Fair Value Assets GMIB reinsurance recoverable $ 262 Discounted cash flow Mortality (1) 0.01% - 23.42% Decrease Lapse (2) 3.30% - 9.00% Decrease Utilization (3) 0.00% - 20.00% Increase Withdrawal (4) 3.75% - 4.50% Increase Nonperformance risk adjustment (5) 0.11% - 1.50% Decrease Long-term Equity Volatility (6) 18.50% - 22.06% Increase Liabilities Embedded derivative (assets) liabilities $ 2,626 Discounted cash flow Mortality (1) 0.04% - 21.45% Decrease Lapse (2) 0.20% - 30.90% Decrease Utilization (3) 5.00% - 100.00% Increase Withdrawal (4) 58.00% - 97.00% Increase Nonperformance risk adjustment (5) 0.11% - 1.50% Decrease Long-term Equity Volatility (6) 18.50% - 22.06% Increase (1) Mortality rates vary by attained age, tax qualification status, GMWB benefit election, and duration. The range displayed reflects ages from the minimum issue age for the benefit through age 95, which corresponds to the typical maturity age. A mortality improvement assumption is also applied. (2) Base lapse rates vary by contract-level factors, such as product type, surrender charge schedule and optional benefits election. Lapse rates are further adjusted based on the degree to which a guaranteed benefit is in-the-money, with lower lapse applying when benefits are more in-the-money. Lapse rates are also adjusted to reflect lower lapse expectations when GMWB benefits are utilized. (3) The utilization rate represents the expected percentage of contracts that will utilize the benefit through annuitization (GMIB) or commencement of withdrawals (GMWB). Utilization may vary by benefit type, attained age, duration, tax qualification status, benefit provision, and degree to which the guaranteed benefit is in-the-money. (4) The withdrawal rate represents the utilization rate of the contract’s free partial withdrawal provision (GMIB) or the percentage of annual withdrawal assumed relative to the maximum allowable withdrawal amount (GMWB). Withdrawal rates on contracts with a GMIB vary based on the product type and duration. Withdrawal rates on contracts with a GMWB vary based on attained age, tax qualification status, GMWB type and GMWB benefit provisions. (5) Nonperformance risk adjustment is applied as a spread over the risk-free rate to determine the rate used to discount the related cash flows and varies by projection year.
Schedule of Rollforwards of Financial Instruments for Which Significant Unobservable Inputs (Level 3) are Used - Assets	The tables below provide roll forwards for the years ended December 31, 2022 and 2021 of the financial instruments for which significant unobservable inputs (Level 3) are used in the fair value measurement. Gains and losses in the tables below include changes in fair value due partly to observable and unobservable factors. The Company utilizes derivative instruments to manage the risk associated with certain assets and liabilities. However, the derivative instruments hedging the related risks may not be classified within the same fair value hierarchy level as the associated assets and liabilities. Therefore, the impact of the derivative instruments reported in Level 3 may vary significantly from the total income effect of the hedged instruments. Total Realized/Unrealized Gains (Losses) Included in Purchases, Fair Value Sales, Transfers Fair Value as of Other Issuances in and/or as of January 1, Net Comprehensive and (out of) December 31, December 31, 2022 2022 Income Income Settlements Level 3 2022 Assets Debt securities Corporate securities $ 9 $ — $ (13) $ 12 $ 48 $ 56 Equity securities 112 7 — 3 — 122 Mortgage loans — (7) — 589 — 582 Limited partnerships 396 8 — 27 9 440 GMIB reinsurance recoverable 262 (92) — — — 170 Policy loans 3,467 29 — (77) — 3,419 Liabilities Embedded derivative assets (liabilities) $ (2,626) $ 4,780 $ — $ — $ — $ 2,154 Funds withheld payable under reinsurance treaties (3,759) 3,249 — 86 — (424) Total Realized/Unrealized Gains (Losses) Included in Purchases, Fair Value Sales, Transfers Fair Value as of Other Issuances in and/or as of January 1, Net Comprehensive and (out of) December 31, December 31, 2021 2021 Income Income Settlements Level 3 2021 Assets Debt securities Corporate securities $ 29 $ 2 $ — $ 10 $ (32) $ 9 Equity securities 104 14 — (6) — 112 Limited partnerships (1) 313 74 — 9 — 396 GMIB reinsurance recoverable 340 (78) — — — 262 Policy loans 3,454 (2) — 15 — 3,467 Liabilities Embedded derivative assets (liabilities) $ (5,592) $ 2,966 $ — $ — $ — $ (2,626) Funds withheld payable under reinsurance treaties (4,453) 708 — (14) — (3,759) (1) The fair value amounts shown in the table have been revised for an immaterial error related to the historical disclosure of certain limited partnerships which are measured using a Level 3 fair value measurement as being measured using NAV as a practical expedient within the Fair Value Measurement note to the consolidated financial statements. The prior period error did not impact the Consolidated Balance Sheets.
Schedule of Rollforwards of Financial Instruments for Which Significant Unobservable Inputs (Level 3) are Used - Liabilities	The tables below provide roll forwards for the years ended December 31, 2022 and 2021 of the financial instruments for which significant unobservable inputs (Level 3) are used in the fair value measurement. Gains and losses in the tables below include changes in fair value due partly to observable and unobservable factors. The Company utilizes derivative instruments to manage the risk associated with certain assets and liabilities. However, the derivative instruments hedging the related risks may not be classified within the same fair value hierarchy level as the associated assets and liabilities. Therefore, the impact of the derivative instruments reported in Level 3 may vary significantly from the total income effect of the hedged instruments. Total Realized/Unrealized Gains (Losses) Included in Purchases, Fair Value Sales, Transfers Fair Value as of Other Issuances in and/or as of January 1, Net Comprehensive and (out of) December 31, December 31, 2022 2022 Income Income Settlements Level 3 2022 Assets Debt securities Corporate securities $ 9 $ — $ (13) $ 12 $ 48 $ 56 Equity securities 112 7 — 3 — 122 Mortgage loans — (7) — 589 — 582 Limited partnerships 396 8 — 27 9 440 GMIB reinsurance recoverable 262 (92) — — — 170 Policy loans 3,467 29 — (77) — 3,419 Liabilities Embedded derivative assets (liabilities) $ (2,626) $ 4,780 $ — $ — $ — $ 2,154 Funds withheld payable under reinsurance treaties (3,759) 3,249 — 86 — (424) Total Realized/Unrealized Gains (Losses) Included in Purchases, Fair Value Sales, Transfers Fair Value as of Other Issuances in and/or as of January 1, Net Comprehensive and (out of) December 31, December 31, 2021 2021 Income Income Settlements Level 3 2021 Assets Debt securities Corporate securities $ 29 $ 2 $ — $ 10 $ (32) $ 9 Equity securities 104 14 — (6) — 112 Limited partnerships (1) 313 74 — 9 — 396 GMIB reinsurance recoverable 340 (78) — — — 262 Policy loans 3,454 (2) — 15 — 3,467 Liabilities Embedded derivative assets (liabilities) $ (5,592) $ 2,966 $ — $ — $ — $ (2,626) Funds withheld payable under reinsurance treaties (4,453) 708 — (14) — (3,759) (1) The fair value amounts shown in the table have been revised for an immaterial error related to the historical disclosure of certain limited partnerships which are measured using a Level 3 fair value measurement as being measured using NAV as a practical expedient within the Fair Value Measurement note to the consolidated financial statements. The prior period error did not impact the Consolidated Balance Sheets.
Schedule of Components of Amounts Included in Purchases, Sales, Issuances and Settlements	The components of the amounts included in purchases, sales, issuances and settlements for the years ended December 31, 2022 and 2021 shown above are as follows (in millions): December 31, 2022 Purchases Sales Issuances Settlements Total Assets Debt securities Corporate securities $ 15 $ (3) $ — $ — $ 12 Equity securities 7 (4) — — 3 Mortgage loans 632 (43) — — 589 Limited partnerships 45 (18) — — 27 Policy loans — — 215 (292) (77) Total $ 699 $ (68) $ 215 $ (292) $ 554 Liabilities Funds withheld payable under reinsurance treaties $ — $ — $ (222) $ 308 $ 86 December 31, 2021 Purchases Sales Issuances Settlements Total Assets Debt securities Corporate securities $ 11 $ (1) $ — $ — $ 10 Equity securities 2 (8) — — (6) Limited partnerships (1) 55 (46) — — 9 Policy loans — — 261 (246) 15 Total $ 68 $ (55) $ 261 $ (246) $ 28 Liabilities Funds withheld payable under reinsurance treaties $ — $ — $ (468) $ 454 $ (14) (1) The fair value amounts shown in the table have been revised for an immaterial error related to the historical disclosure of certain limited partnerships which are measured using a Level 3 fair value measurement as being measured using NAV as a practical expedient within the Fair Value Measurement note to the consolidated financial statements. The prior period error did not impact the Consolidated Balance Sheets.
Schedule of Portion of Gains (Losses) Included in Net Income or Other Comprehensive Income	The portion of gains (losses) included in net income (loss) or other comprehensive income (loss) ("OCI") attributable to the change in unrealized gains and losses on Level 3 financial instruments still held was as follows (in millions): Year Ended December 31, 2022 2021 Included in Included in OCI Included in Included in OCI Assets Debt securities Corporate securities $ — $ (13) $ 2 $ — Equity securities 21 — 14 — Mortgage loans (7) — — — Limited partnerships (1) 8 — 74 — GMIB reinsurance recoverable (92) — (78) — Policy loans 29 — (2) — Liabilities Embedded derivative (assets) liabilities $ 4,780 $ — $ 2,966 $ — Funds withheld payable under reinsurance treaties 3,249 — 708 — (1) The fair value amounts shown in the table for 2021 have been revised for an immaterial error related to the historical disclosure of certain limited partnerships which are measured using a Level 3 fair value measurement as being measured using NAV as a practical expedient within the Fair Value Measurement note to the consolidated financial statements. The prior period error did not impact the consolidated balance sheets.
Schedule of Carrying Amount and Fair Value by Hierarchy of Certain Financial Instruments Not Reported at Fair Value	The table below presents the carrying amount and fair value by fair value hierarchy level of certain financial instruments that are not reported at fair value (in millions): December 31, 2022 Fair Value Carrying Total Level 1 Level 2 Level 3 Assets Mortgage loans $ 10,967 $ 10,259 $ — $ — $ 10,259 Policy loans 958 958 — — 958 FHLBI capital stock 146 146 146 — — Liabilities Annuity reserves (1) $ 36,221 $ 31,241 $ — $ — $ 31,241 Reserves for guaranteed investment contracts (2) 1,128 1,099 — — 1,099 Trust instruments supported by funding agreements (2) 5,887 5,760 — — 5,760 FHLB funding agreements (2) 2,004 2,104 — — 2,104 Funds withheld payable under reinsurance treaties 22,533 22,533 — — 22,533 Debt 2,635 2,344 — 2,344 — Securities lending payable 36 36 — 36 — Repurchase agreements 1,012 1,012 — 1,012 — Separate account liabilities (4) 195,906 195,906 — 195,906 — December 31, 2021 Fair Value Carrying Total Level 1 Level 2 Level 3 Assets Mortgage loans $ 11,482 $ 11,910 $ — $ — $ 11,910 Policy loans 1,008 1,008 — — 1,008 FHLBI capital stock 125 125 125 — — Liabilities Annuity reserves (1) $ 36,318 $ 44,640 $ — $ — $ 44,640 Reserves for guaranteed investment contracts (2) 894 923 — — 923 Trust instruments supported by funding agreements (2) 5,986 6,175 — — 6,175 FHLB funding agreements (2) 1,950 1,938 — — 1,938 Funds withheld payable under reinsurance treaties (3) 24,533 24,533 537 19,127 4,869 Debt 2,649 2,745 — 2,745 — Securities lending payable 17 17 — 17 — Repurchase agreements 1,572 1,572 — 1,572 — Separate account liabilities (4) 248,949 248,949 — 248,949 — (1) Annuity reserves represent only the components of other contract holder funds that are considered to be financial instruments. The fair value amounts shown in the table for 2021 have been revised for an immaterial error related to the historical disclosure for annuity reserves not reported at fair value within the Fair Value Measurement note to the Consolidated Financial Statements. The prior period error did not impact the Consolidated Balance Sheets. (2) Included as a component of other contract holder funds on the Consolidated Balance Sheets. (3) Excludes $715 million of limited partnership investments measured at NAV at December 31, 2021. (4) The values of separate account liabilities are set equal to the values of separate account assets.

Deferred Acquisition Costs an_2

Deferred Acquisition Costs and Deferred Sales Inducements (Tables)	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Schedule of Deferred Acquisition Costs	The balances of, and changes, in deferred acquisition costs were as follows (in millions): . Years Ended December 31, 2022 2021 2020 Balance, beginning of period $ 14,249 $ 13,897 $ 12,337 Deferrals of acquisition costs 624 790 738 Amortization (1,743) (520) 533 Unrealized investment (gains) losses 292 82 289 Balance, end of period 13,422 14,249 13,897
Schedule of Deferred Sales Inducements	The balances of and changes in deferred sales inducements, which are reported in other assets, were as follows (in millions): Years Ended December 31, 2022 2021 2020 Balance, beginning of year $ 77 $ 77 $ 140 Deferrals of sales inducements 4 2 1 Amortization (4) (3) (152) Unrealized investment losses (gains) 2 1 88 Balance, end of year 79 77 77

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Schedule of Impact of Athene Transaction	The following table summarizes the impact of the Athene Reinsurance Transaction on the Consolidated Income Statements (in millions): December 31, 2020 Contractual ceding commission $ 1,202 Cost of reinsurance write-off (1) (2,520) DAC and DSI write-off (764) Total pretax loss on Athene Reinsurance Transaction $ (2,082) (1) Cost of reinsurance reflects the net impact of the fair value of assets of $30.1 billion and ceded reserves of $27.6 billion.
Schedule of Assets and Liabilities Held in Support of Reserves Associated with Funds Withheld Reinsurance Agreements	The following assets and liabilities were held in support of reserves associated with the Company’s funds withheld reinsurance agreements and were reported in the respective financial statement line items in the Consolidated Balance Sheets (in millions): December 31, 2022 2021 Assets Debt securities, available-for-sale $ 13,622 $ 19,094 Debt securities, at fair value under the fair value option 159 164 Equity securities 77 116 Mortgage loans 4,127 4,739 Mortgage loans, at fair value under the fair value option 582 — Policy loans 3,435 3,483 Freestanding derivative instruments, net 78 37 Other invested assets 793 715 Cash and cash equivalents 260 438 Accrued investment income 166 162 Other assets and liabilities, net (73) (56) Total assets (1) $ 23,226 $ 28,892 Liabilities Funds held under reinsurance treaties (2) $ 22,957 $ 29,007 Total liabilities $ 22,957 $ 29,007 (1) Certain assets are reported at amortized cost while the fair value of those assets is reported in the embedded derivative in the funds withheld liability. (2) Includes funds withheld embedded derivative asset (liability) of $3,158 million and $(120) million at December 31, 2022 and 2021, respectively.
Schedule of Sources of Income Related to Funds Withheld Under Reinsurance Treaties	The sources of net investment income were as follows (in millions): Years Ended December 31, 2022 2021 2020 Debt securities (1) $ 1,076 $ 1,154 $ 1,617 Equity securities (16) 8 (14) Mortgage loans 285 319 365 Policy loans 69 73 79 Limited partnerships 144 795 105 Other investment income 49 13 12 Total investment income excluding funds withheld assets 1,607 2,362 2,164 Net investment income on funds withheld assets (see Note 8) 1,254 1,188 792 Investment expenses (100) (126) (138) Net investment income $ 2,761 $ 3,424 $ 2,818 (1) Includes changes in fair value gains (losses) on trading securities and includes $(149) million, $26 million and $(25) million for the years ended December 31, 2022, 2021 and 2020, respectively, related to the change in fair value for securities carried under the fair value option. The sources of income related to funds withheld under reinsurance treaties reported in net investment income in the Consolidated Income Statements were as follows (in millions): Years Ended December 31, 2022 2021 2020 Debt securities (1) $ 680 $ 762 $ 490 Equity securities (34) 5 2 Mortgage loans (2) 231 179 51 Policy loans 312 314 315 Limited partnerships 149 35 — Other investment income 1 — — Total investment income on funds withheld assets 1,339 1,295 858 Other investment expenses on funds withheld assets (3) (85) (107) (66) Total net investment income on funds withheld reinsurance treaties $ 1,254 $ 1,188 $ 792 (1) Includes $(10) million, $(3) million, and $2 million for the years ended December 31, 2022, 2021 and 2020, respectively, related to the change in fair value for securities carried under the fair value option. (2) Includes $(7) million for the year ended December 31, 2022, and nil for the years ended December 31, 2021 and 2020 respectively, related to the change in fair value for mortgage loans carried under the fair value option. (3) Includes management fees.
Schedule of Gains And Losses On Funds Withheld Reinsurance Treaties	The gains and losses on funds withheld reinsurance treaties as a component of net gains (losses) on derivatives and investments in the Consolidated Income Statements were as follows (in millions): Years Ended December 31, 2022 2021 2020 Available-for-sale securities Realized gains on sale $ 43 $ 536 $ 2,074 Realized losses on sale (54) (52) (12) Credit loss expense (26) (1) — Gross impairments — — (2) Credit loss expense on mortgage loans 15 23 (47) Other (62) (29) 4 Net gains (losses) on non-derivative investments (84) 477 2,017 Net gains (losses) on derivative instruments 93 58 (228) Net gains (losses) on funds withheld payable under reinsurance treaties (1) 2,177 (556) (1,349) Total net gains (losses) on derivatives and investments $ 2,186 $ (21) $ 440 (1) Includes the Athene Embedded Derivative gain (loss) of $3,278 million, $707 million, and $(827) million for the years ended December 31, 2022, 2021 and 2020, respectively.
Schedule of Components of Reinsurance Recoverable, and Premiums and Benefits	The effect of reinsurance on premiums and benefits was as follows (in millions): Years Ended December 31, 2022 2021 2020 Premiums Direct $ 360 $ 407 $ 336 Assumed 40 42 47 Ceded (268) (301) (196) Total premium $ 132 $ 148 $ 187 Benefits Direct $ 1,692 $ 1,488 $ 1,611 Assumed 866 876 749 Ceded (922) (863) (666) Change in reserves, net of reinsurance 654 (531) (332) Total benefits $ 2,290 $ 970 $ 1,362 Components of the Company’s reinsurance recoverable were as follows (in millions): December 31, 2022 2021 Reserves: Life $ 5,641 $ 5,829 Accident and health 523 547 Guaranteed minimum income benefits 170 262 Other annuity benefits (1) 22,487 25,625 Claims liability and other 820 863 Total $ 29,641 $ 33,126 (1)

Reserves for Future Policy Be_2

Reserves for Future Policy Benefits and Claims Payable and Other Contract Holder Funds (Tables)	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Schedule of Reserves for Future Policy Benefits and Claims Payable Balances	The following table sets forth the Company’s reserves for future policy benefits and claims payable balances (in millions): December 31, 2022 2021 Traditional life $ 3,951 $ 4,262 Guaranteed benefits (1) 1,779 5,477 Claims payable 1,033 1,050 Accident and health 1,164 1,204 Group payout annuities 4,586 4,895 Life contingent payouts 1,158 1,152 Other 602 627 Total $ 14,273 $ 18,667 (1) Includes net embedded derivative (assets) liabilities related to the GMWB and liabilities related to GMDB.
Schedule of Liabilities for Other Contract Holder Funds Balances	The following table sets forth the Company’s liabilities for other contract holder funds balances (in millions): December 31, 2022 2021 Interest-sensitive life $ 11,197 $ 11,553 Variable annuity fixed option 10,578 9,751 RILA (1) 1,875 110 Fixed annuity 13,410 14,960 Fixed index annuity (2) 11,937 13,333 GICs, funding agreements and FHLB advances 9,019 8,830 Other 179 189 Total $ 58,195 $ 58,726 (1) Includes the embedded derivative liabilities related to RILA of $205 million and $6 million at December 31, 2022 and 2021, respectively. (2) Includes the embedded derivative liabilities related to fixed index annuity of $931 million and $1,439 million at December 31, 2022 and 2021, respectively.
Schedule of Distribution of Fixed Interest Rate Annuities' Account Values	The following tables show the distribution of those annuity account values within the presented ranges of minimum guaranteed interest rates (in millions): December 31, 2022 Minimum Account Value Fixed Fixed Index RILA Variable Total 1.0% $ 333 $ 399 $ 17 $ 6,775 $ 7,524 >1.0% - 2.0% 50 — — 207 257 >2.0% - 3.0% 1,050 165 — 3,277 4,492 >3.0% - 4.0% 565 — — — 565 >4.0% - 5.0% 270 — — — 270 >5.0% - 5.5% 71 — — — 71 Subtotal 2,339 564 17 10,259 13,179 Ceded reinsurance 10,476 11,373 — — 21,849 Total $ 12,815 $ 11,937 $ 17 $ 10,259 $ 35,028 December 31, 2021 Minimum Account Value Fixed Fixed Index RILA Variable Total 1.0% $ 156 $ 279 $ 1 $ 5,988 $ 6,424 >1.0% - 2.0% 57 1 — 214 272 >2.0% - 3.0% 1,113 183 — 3,254 4,550 >3.0% - 4.0% 594 — — — 594 >4.0% - 5.0% 276 — — — 276 >5.0% - 5.5% 72 — — — 72 Subtotal 2,268 463 1 9,456 12,188 Ceded reinsurance 12,086 12,870 — — 24,956 Total $ 14,354 $ 13,333 $ 1 $ 9,456 $ 37,144
Schedule of Distribution of Interest Sensitive Life Business Account Values	The following table shows the distribution of the interest sensitive life business account values within the presented ranges of minimum guaranteed interest rates, excluding the business that is subject to the previously mentioned retro treaties (in millions): December 31, Minimum 2022 2021 Account Value - Interest Sensitive Life >2.0% - 3.0% $ 241 $ 252 >3.0% - 4.0% 2,632 2,736 >4.0% - 5.0% 2,294 2,381 >5.0% - 6.0% 1,883 1,962 Subtotal 7,050 7,331 Retro treaties 4,147 4,222 Total $ 11,197 $ 11,553

Certain Nontraditional Long-D_2

Certain Nontraditional Long-Duration Contracts and Variable Annuity Guarantees (Tables)	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Schedule of Net Amount At Risk	At December 31, 2022 and 2021, the Company provided variable annuity contracts with guarantees, for which the net amount at risk is defined as the amount of guaranteed benefit in excess of current account value, as follows (dollars in millions): Minimum Return Account Net Amount at Risk Weighted Average Attained Age Average Period until Expected Annuitization December 31, 2022 Return of net deposits plus a minimum return GMDB 0-6% $ 152,267 $ 8,812 69.3 years GMWB - Premium only 0% 2,123 58 GMWB 0-5%* 169 14 Highest specified anniversary account value minus withdrawals post-anniversary GMDB 11,255 2,406 70.5 years GMWB - Highest anniversary only 2,992 559 GMWB 889 127 Combination net deposits plus minimum return, highest specified anniversary account value minus withdrawals post-anniversary GMDB 0-6% 7,677 2,309 72.3 years GMIB 0-6% 1,209 752 0.5 years GMWB 0-8%* 142,361 41,148 Weighted Average Attained Age Average Period until Expected Annuitization Minimum Return Account Net Amount at Risk December 31, 2021 Return of net deposits plus a minimum return GMDB 0-6% $ 194,060 $ 2,124 68.7 years GMWB - Premium only 0% 2,937 7 GMWB 0-5%* 245 8 Highest specified anniversary account value minus withdrawals post-anniversary GMDB 14,806 93 69.8 years GMWB - Highest anniversary only 3,919 33 GMWB 643 44 Combination net deposits plus minimum return, highest specified anniversary account value minus withdrawals post-anniversary GMDB 0-6% 9,896 522 71.9 years GMIB 0-6% 1,662 463 0.5 years GMWB 0-8%* 181,457 4,295 * Ranges shown based on simple interest. The upper limits of 5% or 8% simple interest are approximately equal to 4.1% and 6.0%, respectively, on a compound interest basis over a typical 10-year bonus period. The combination GMWB category also includes benefits with a defined increase in the withdrawal percentage under pre-defined non-market conditions. Liabilities for these benefits, as established according to the methodologies described below, are as follows: December 31, 2022 December 31, 2021 Benefit Type Liability Net Amount Weighted Average Attained Age Liability Net Amount Weighted Average Attained Age Insurance benefits * $ 950 $ 17,427 64.6 years $ 943 $ 18,506 64.0 years Account balance adjustments 146 N/A N/A 141 N/A N/A
Schedule of Separate Account Balances	Account balances of contracts with guarantees were invested in variable separate accounts as follows (in millions): December 31, 2022 2021 Fund type: Equity $ 118,858 $ 154,368 Bond 16,047 20,207 Balanced 34,693 43,185 Money market 2,243 1,564 Total $ 171,841 $ 219,324
Schedule of GMDB liabilities in the General Account	GMDB liabilities reflected in the general account were as follows (in millions): December 31, 2022 2021 Balance as of beginning of period $ 1,370 $ 1,418 Incurred guaranteed benefits 1,058 55 Paid guaranteed benefits (219) (103) Balance as of end of period $ 2,209 $ 1,370

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Aggregate Carrying Value of Long-Term Debt	The aggregate carrying value of long-term debt was as follows (in millions): December 31, 2022 2021 Long-Term Debt Senior Notes due 2023 $ 598 $ 596 Senior Notes due 2027 397 — Senior Notes due 2031 493 495 Senior Notes due 2032 347 — Senior Notes due 2051 488 490 Term loan due 2023 — 751 Surplus notes 250 250 FHLBI bank loans 62 67 Total long-term debt $ 2,635 $ 2,649
Contractual Maturities of Long-term Debt	The following table presents the contractual maturities of the Company's long-term debt as of December 31, 2022: (in millions): Calendar Year 2023 2024 2025 2026 2027 and thereafter Total Long-term debt $ 598 $ — $ — $ — $ 2,037 $ 2,635

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of the Provision for Income Taxes	The components of the provision for federal, state and local income taxes were as follows (in millions): Years Ended December 31, 2022 2021 2020 Current tax expense (benefit) Federal $ (43) $ (71) $ (80) State and local 1 (2) 2 Total current tax expense (benefit) (42) (73) (78) Deferred tax expense (benefit) Federal 1,358 653 (703) State and local 55 22 (73) Total deferred tax expense (benefit) 1,413 675 (776) Total income taxes $ 1,371 $ 602 $ (854)
Schedule of Effective Income Tax Rate Reconciliation	The federal income tax provisions differ from the amounts determined by multiplying pretax income attributable to the Company by the statutory federal income tax rate of 21% as follows (in millions): Years Ended December 31, 2022 2021 2020 Income taxes at statutory rate $ 1,493 $ 795 $ (522) State income taxes (1) 44 15 (56) Dividends received deduction (142) (146) (158) Valuation allowance 2 — 1 U.S. federal tax reform impact (2) — — (16) Foreign and other tax credits (3) (24) (46) (61) Prior year deferred tax benefit — — (53) Other (4) (2) (16) 11 Income tax (benefit) expense $ 1,371 $ 602 $ (854) Effective tax rate 19.3 % 15.9 % 34.3 % (1) For the year ended December 31, 2020, includes a benefit of $33 million relating to prior periods. (2) For the year ended December 31, 2020, the benefit is the result of the CARES Act. (3) For the years ended December 31, 2022, 2021 and 2020, this primarily represents the benefit from foreign tax credits generated by the fund investments of the variable life and annuity contracts.
Schedule of Deferred Tax Assets and Liabilities	The tax effects of significant temporary differences that gave rise to deferred tax assets and liabilities were as follows (in millions): December 31, 2022 2021 Gross deferred tax asset Difference between financial reporting and the tax basis of: Policy reserves and other insurance items $ 1,837 $ 2,695 Employee benefits 165 181 Derivative investments 789 1,128 Net unrealized losses 1,297 — Net operating loss carryforward 587 306 Other 75 15 Total gross deferred tax asset 4,750 4,325 Valuation allowance (910) (2) Gross deferred tax asset, net of valuation allowance $ 3,840 $ 4,323 Gross deferred tax liability Difference between financial reporting and the tax basis of: Deferred acquisition costs and sales inducements $ (2,644) $ (2,873) Other investment items (781) (23) Net unrealized gains — (453) Other (30) (20) Total gross deferred tax liability (3,455) (3,369) Net deferred tax asset $ 385 $ 954
Schedule of Operating Loss Carryforwards	The following table sets forth the amount and expiration dates of federal and state operating, capital loss and tax credit carryforwards for tax periods indicated. Included in the table is a Section 382 loss carryforward attributable to a previous acquisition. Section 382 of the Internal Revenue Code imposes limitations on the utilization of net operating loss carryforwards. The Section 382 limitation is an annual limitation on the amount of pre-acquisition net operating losses that a corporation may use to offset post-acquisition income. Section 382 further limits certain unrealized built-in losses at the time of acquisition. December 31, 2022 2021 Federal net operating and capital loss carryforwards (1) $ 2,568 $ 1,280 Section 382 net operating loss from previous acquisition (2) 137 137 State net operating and capital loss carryforwards (3) 350 161 Foreign Tax Credit (4) 44 — Alternative Minimum Credit (5) 6 6 Total $ 3,105 $ 1,584 (1) Unlimited carryforward (2) Begins to expire in 2026 with annual limitation of approximately $21 million. (3) For the year ended December 31, 2022, includes $127 million with expiration of 0-20 years, and with $223 million unlimited carryforward. (4) 10 year carryforward (5) Subject to Section 383 limitations.
Schedule of Tax Credit Carryforwards	The following table sets forth the amount and expiration dates of federal and state operating, capital loss and tax credit carryforwards for tax periods indicated. Included in the table is a Section 382 loss carryforward attributable to a previous acquisition. Section 382 of the Internal Revenue Code imposes limitations on the utilization of net operating loss carryforwards. The Section 382 limitation is an annual limitation on the amount of pre-acquisition net operating losses that a corporation may use to offset post-acquisition income. Section 382 further limits certain unrealized built-in losses at the time of acquisition. December 31, 2022 2021 Federal net operating and capital loss carryforwards (1) $ 2,568 $ 1,280 Section 382 net operating loss from previous acquisition (2) 137 137 State net operating and capital loss carryforwards (3) 350 161 Foreign Tax Credit (4) 44 — Alternative Minimum Credit (5) 6 6 Total $ 3,105 $ 1,584 (1) Unlimited carryforward (2) Begins to expire in 2026 with annual limitation of approximately $21 million. (3) For the year ended December 31, 2022, includes $127 million with expiration of 0-20 years, and with $223 million unlimited carryforward. (4) 10 year carryforward (5) Subject to Section 383 limitations.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of Components of Operating Lease Costs and Other Information Related to Operating Leases	The following table summarizes the components of operating lease costs and other information related to operating leases recorded within operating costs and other expenses, net of deferrals, (in millions): Years Ended December 31, 2022 2021 2020 Lease Cost: Operating leases (1) $ 7 $ 8 $ 12 Variable lease costs 4 4 5 Sublease income (3) (4) (5) Net Lease Cost $ 8 $ 8 $ 12 Other Information: Cash paid for amounts included in the measurement of operating lease liability $ 9 $ 11 $ 12 Weighted average lease term 6 years 7 years 7 years Weighted average discount rate 3.9 % 3.8 % 3.8 % (1) Operating lease costs exclude software leases, as intangible assets are excluded from the scope of Accounting Standard Codification 842, Leases.
Schedule of Maturities of Operating Lease Liabilities	At December 31, 2022, the maturities of operating lease liabilities were as follows (in millions): 2023 $ 9 2024 8 2025 6 2026 6 2027 4 Thereafter 7 Total $ 40 Less: interest 4 Present value of lease liabilities $ 36

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Outstanding Non-Vested RSUs	Outstanding non-vested RSUs granted to associates were as follows: Year Ended December 31, 2022 Share-Settled Cash-Settled RSUs Weighted-Average Grant Date Fair Value per Share RSUs Weighted-Average Grant Date Fair Value per Share Non-vested at beginning of period 1,345,401 $ 26.65 1,920,880 $ 26.09 Granted (1) 400,179 $ 38.32 1,171,221 $ 38.74 Vested (421,085) $ 27.14 (836,671) $ 26.98 Forfeited (146,486) $ 27.15 (98,657) $ 29.01 Non-vested at end of period 1,178,009 $ 30.38 2,156,773 $ 32.89 (1) Includes dividend equivalents granted in the current period on awards outstanding Year Ended December 31, 2021 Share-Settled Cash-Settled RSUs Weighted-Average Grant Date Fair Value per Share RSUs Weighted-Average Grant Date Fair Value per Share Nonvested at beginning of period — $ — — $ — Granted (1) 641,312 $ 26.91 1,694,960 $ 26.57 Vested — $ — — $ — Forfeited — $ — (8,772) $ 26.41 Re-issuance due to modification 704,089 $ 26.41 234,692 $ 26.41 Nonvested at end of period 1,345,401 $ 26.65 1,920,880 $ 26.09
Schedule of Outstanding Non-Vested PSUs	Outstanding non-vested PSUs granted were as follows: Year Ended December 31, 2022 Share-Settled Cash-Settled PSUs Weighted-Average Grant Date Fair Value per Share PSUs Weighted-Average Grant Date Fair Value per Share Non-vested at beginning of period 5,775,795 $ 26.59 1,993,641 $ 26.56 Granted (1) 749,064 $ 37.75 292,132 $ 37.87 Vested (2,127,430) $ 26.64 (709,089) $ 26.63 Forfeited (322,099) $ 27.00 (89,231) $ 26.79 Non-vested at end of period 4,075,330 $ 28.59 1,487,453 $ 28.73 (1) Includes dividend equivalents granted in the current period on awards outstanding Year Ended December 31, 2021 Share-Settled Cash-Settled PSUs Weighted-Average Grant Date Fair Value per Share PSUs Weighted-Average Grant Date Fair Value per Share Nonvested at beginning of period — $ — — $ — Granted (1) 678,468 $ 27.95 294,976 $ 27.42 Vested — $ — — $ — Forfeited (43,753) $ 26.41 (14,868) $ 26.41 Re-issuance due to modification 5,141,080 $ 26.41 1,713,533 $ 26.41 Nonvested at end of period 5,775,795 $ 26.59 1,993,641 $ 26.56
Schedule of Expense Related to Share-Based Plans	Total expense related to these share-based plans was as follows (in millions): For the Years Ended December 31, 2022 2021 2020 Compensation expense recognized $ 131 $ 129 $ 56 Income tax benefit recognized $ 29 $ 26 $ 12

Operating Costs and Other Exp_2

Operating Costs and Other Expenses (Tables)	12 Months Ended
	Dec. 31, 2022
Operating Costs And Other Expenses [Abstract]
Summary of Operating Costs and Other Expenses	The following table is a summary of the Company’s operating costs and other expenses (in millions): Years Ended December 31, 2022 2021 2020 Asset-based commission expenses $ 1,010 $ 1,126 $ 907 Other commission expenses 846 1,042 1,020 Sub-advisor expenses 329 389 324 Athene ceding commission (1) — — (1,202) General and administrative expenses 875 1,078 985 Deferral of acquisition costs (628) (796) (735) Total operating costs and other expenses $ 2,432 $ 2,839 $ 1,299 (1) See Note 8 to Consolidated Financial Statements for further information.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income	The following table represents changes in the balance of accumulated other comprehensive income (" AOCI"), net of income tax, related to unrealized investment gains (losses) (in millions): Years Ended December 31, 2022 2021 2020 Balance, beginning of period (1) $ 1,744 $ 3,821 $ 2,398 Change in unrealized appreciation (depreciation) of investments (8,296) (1,829) 2,598 Change in unrealized appreciation (depreciation) - other 382 90 131 Change in deferred tax asset 811 375 (602) Other comprehensive income (loss) before reclassifications (7,103) (1,364) 2,127 Reclassifications from AOCI, net of tax (122) (713) (704) Other comprehensive income (loss) (7,225) (2,077) 1,423 Balance, end of period (1) $ (5,481) $ 1,744 $ 3,821 (1) Includes $(2,106) million and $287 million related to the investments held within the funds withheld account related to the Athene Reinsurance Transaction as of December 31, 2022 and December 31, 2021, respectively.
Schedule of Amounts Reclassified Out of AOCI	The following table represents amounts reclassified out of AOCI (in millions): AOCI Components Amounts Affected Line Item in the Years Ended December 31, 2022 2021 2020 Net unrealized investment gain (loss): Net realized gain (loss) on investments $ (167) $ (932) $ (1,148) Net gains (losses) on derivatives and investments Other impaired securities — (10) 10 Net gains (losses) on derivatives and investments Net unrealized gain (loss) (167) (942) (1,138) Amortization of deferred acquisition costs 12 32 247 Reclassifications, before income taxes (155) (910) (891) Income tax expense (benefit) (33) (197) (187) Reclassifications, net of income taxes $ (122) $ (713) $ (704)

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Schedule of Share Repurchase Activities	The following table represents share repurchase activities as part of this share repurchase program: Number of Shares Repurchased Total Payments Average Price Paid Per Share Period 2021 (October 1 - December 31) 5,778,649 $ 211 $ 36.51 Total 2021 5,778,649 211 36.51 2022 (January 1 - March 31) 3,433,610 140 40.84 2022 (April 1 - June 30) 1,870,854 66 35.15 2022 (July 1 - September 30) 1,200,000 39 32.75 2022 (October 1 - December 31) 1,142,105 38 33.33 Total 2022 7,646,569 283 37.05 2023 (January 1 - February 22) 409,037 $ 16 $ 39.56
Schedule of Stockholders Equity	Common Stock Treasury Stock Total Common Stock Outstanding Shares at December 31, 2020 94,464,343 — 94,464,343 Shares repurchased under repurchase program — (5,778,649) (5,778,649) Shares at December 31, 2021 94,464,343 (5,778,649) 88,685,694 Share-based compensation programs 10,568 1,640,405 (1) 1,650,973 Shares repurchased under repurchase program — (7,646,569) (7,646,569) Shares at December 31, 2022 94,474,911 (11,784,813) 82,690,098 (1) Represents net shares issued from treasury stock pursuant to the Company’s share-based compensation programs.
Schedule of Dividends Paid	The following table presents declaration date, record date, payment date and dividends paid per share of JFI’s common stock: Declaration Date Record Date Payment Date Dividends Paid Per Share Quarter Ended 03/31/2022 February 28, 2022 March 14, 2022 March 23, 2022 0.55 06/30/2022 May 9, 2022 June 2, 2022 June 16, 2022 0.55 09/30/2022 August 8, 2022 September 1, 2022 September 15, 2022 0.55 12/31/2022 November 7, 2022 December 1, 2022 December 15, 2022 0.55 Quarter Ended 12/31/2021 November 8, 2021 November 19, 2021 December 9, 2021 0.50

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of Calculation of Earnings Per Common Share	The following table sets forth the calculation of earnings per common share: Years Ended December 31, 2022 2021 2020 (in millions, except share and per share data) Net income (loss) attributable to Jackson Financial Inc. $ 5,697 $ 3,183 $ (1,634) Weighted average shares of common stock outstanding - basic 85,513,787 93,994,520 67,658,901 Dilutive common shares 3,176,913 470,991 — Weighted average shares of common stock outstanding - diluted 88,690,700 94,465,511 67,658,901 Earnings per share—common stock Basic $ 66.62 $ 33.86 $ (24.14) Diluted $ 64.23 $ 33.69 $ (24.14)

Revision and Reclassification_2

Revision and Reclassifications of Prior Period Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Changes and Error Corrections [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The following tables present Consolidated Balance Sheets and Income Statements line items affected by the revisions and reclassifications of previously reported financial statements, detailing amounts previously reported, the impact upon those line items due to revisions and reclassifications and amounts as currently revised within the financial statements. For the years ended December 31, 2021 and 2020 the reclassification also impacted the Consolidated Statements of Cash Flows in the amount of $61 million and $65 million, respectively, which increased financing cash flows offset by a decrease in operating cash flows. In addition, there were revisions reflected in our disclosures throughout this Form 10-K. Consolidated Balance Sheets (in millions) As Previously Reported Impact of Revisions As Revised 12/31/21 12/31/21 12/31/21 Assets Other assets $ 853 $ 75 $ 928 Total assets 375,484 75 375,559 Liabilities Reserves for future policy benefits and claims payable 17,629 1,038 18,667 Other contract holder funds 59,689 (963) 58,726 Notes issued by consolidated variable interest entities, at fair value under fair value option — 1,404 1,404 Other liabilities 3,944 (1,404) 2,540 Total liabilities 364,410 75 364,485 Total liabilities and equity $ 375,484 $ 75 $ 375,559 Consolidated Income Statements As Previously Reported Impact of Revisions and Reclassifications As Revised Year Ended Year Ended Year Ended 12/31/21 12/31/21 12/31/21 Revenues Fee income $ 7,670 $ 389 $ 8,059 Premium 133 15 148 Net investment income 3,429 (5) 3,424 Total revenues 8,848 399 9,247 Benefits and Expenses Death, other policy benefits and change in policy reserves, net of deferrals 913 57 970 Interest credited on other contract holder funds, net of deferrals and amortization 868 (34) 834 Operating costs and other expenses, net of deferrals 2,462 377 2,839 Amortization of deferred acquisition costs 521 (1) 520 Total benefits and expenses 4,801 399 5,200 Net income (loss) $ 3,445 $ — $ 3,445 Consolidated Income Statements As Previously Reported Impact of Revisions and Reclassifications As Revised Year Ended Year Ended Year Ended 12/31/20 12/31/20 12/31/20 Revenues Fee income $ 6,604 $ 324 $ 6,928 Premium 160 27 187 Net investment income 2,829 (11) 2,818 Total revenues 3,206 340 3,546 Benefits and Expenses Death, other policy benefits and change in policy reserves, net of deferrals 1,284 78 1,362 Interest credited on other contract holder funds, net of deferrals and amortization 1,210 91 1,301 Operating costs and other expenses, net of deferrals 984 315 1,299 Amortization of deferred acquisition costs (389) (144) (533) Total benefits and expenses 5,697 340 6,037 Net income (loss) $ (1,637) $ — $ (1,637)

Selected Quarterly Financial _2

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	The following table contains quarterly financial information revised for the years ended December 31, 2022 and 2021 (in millions): Three Months Ended March 31, June 30, September 30, December 31, 2022 2021 2022 2021 2022 2021 2022 2021 Revenues (1) $ 4,364 $ 5,606 $ 6,546 $ 341 $ 4,022 $ 1,575 $ (381) $ 1,725 Benefits and expenses (1) 1,978 2,020 2,895 879 1,995 1,323 572 977 Pretax income (loss) 2,386 3,586 3,651 (538) 2,027 252 (953) 748 Income tax expense (benefit) 330 586 717 (54) 559 (16) (235) 87 Net income (loss) 2,056 3,000 2,934 (484) 1,468 268 (718) 661 Less: Net income (loss) attributable to noncontrolling interests 31 68 31 56 (11) 62 (8) 76 Net income (loss) attributable to Jackson Financial Inc. $ 2,025 $ 2,932 $ 2,903 $ (540) $ 1,479 $ 206 $ (710) $ 585 Earnings per share Basic $ 23.45 $ 31.03 $ 33.77 $ (5.72) $ 17.38 $ 2.18 $ (8.48) $ 6.32 Diluted $ 22.51 $ 31.03 $ 32.56 $ (5.72) $ 16.83 $ 2.18 $ (8.48) $ 6.19 (1) As discussed above, we recorded out of period reclassifications affecting Revenues and Benefits and expenses. The out of period reclassifications increased Revenues by $27 million and $63 million for each of the three months ended June 30, 2022 and March 31, 2022, respectively. Similarly, the reclassification increased Revenues by $103 million, $89 million, $109 million and $99 million for each of the three months ended December 31, 2021, September 30, 2021 June 30, 2021 and March 31, 2021, respectively. The increase in Revenues is directly offset by an increase to Benefits and expenses for the respective periods indicated.

Business and Basis of Present_2

Business and Basis of Presentation (Details) $ in Millions						1 Months Ended	12 Months Ended
	Dec. 31, 2022 shares	Mar. 12, 2022 shares	Dec. 13, 2021 shares	Sep. 09, 2021	Jun. 18, 2020 USD ($)	Aug. 31, 2020 USD ($)	Dec. 31, 2020 USD ($)
Class of Stock [Line Items]
Stock split conversion ratio				104,960.3836276
Reinsurance agreement, ceding commission							$ 1,202
Jackson
Class of Stock [Line Items]
Capital contribution to subsidiary						$ 500
Athene
Class of Stock [Line Items]
Reinsurance quota share basis					100%
Reinsurance agreement, ceding commission					$ 1,200
Class A Common Stock | Prudential
Class of Stock [Line Items]
Shares repurchased (in shares) | shares	2,242,516		2,242,516
Class A Common Stock | Athene
Class of Stock [Line Items]
Shares repurchased (in shares) | shares		750,000	1,134,767
Prudential | Jackson Financial
Class of Stock [Line Items]
Ownership interest	9.20%
Athene | Jackson Financial
Class of Stock [Line Items]
Ownership interest	1.90%				9.90%
Investment agreement, committed capital					$ 500
Economic ownership percentage	1.90%				11.10%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity standard to result in a decrease	$ 8,423	$ 10,394
Cumulative Effect of Change in Accounting Principle
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity standard to result in a decrease			$ 3,000

Segment Information - Segment R

Segment Information - Segment Results (Details) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment									3
Segment Reporting Information [Line Items]
Fee income									$ 7,722	$ 8,059	$ 6,928
Premiums									132	148	187
Net investment income									2,761	3,424	2,818
Income on operating derivatives									3,851	(2,478)	(6,451)
Other income									85	94	64
Total revenues	$ (381)	$ 4,022	$ 6,546	$ 4,364	$ 1,725	$ 1,575	$ 341	$ 5,606	14,551	9,247	3,546
Death, other policy benefits and change in policy reserves, net of deferrals									2,290	970	1,362
Interest credited on other contract holder funds, net of deferrals and amortization									862	834	1,301
Interest expense									113	37	88
Operating costs and other expenses, net of deferrals									2,432	2,839	1,299
Amortization of deferred acquisition costs									1,743	520	(533)
Total benefits and expenses	572	1,995	2,895	1,978	977	1,323	879	2,020	7,440	5,200	6,037
Pretax income (loss)	$ (953)	$ 2,027	$ 3,651	$ 2,386	$ 748	$ 252	$ (538)	$ 3,586	7,111	4,047	(2,491)
Operating Segments
Segment Reporting Information [Line Items]
Fee income									4,634	5,193	4,407
Premiums									144	160	199
Net investment income									1,486	1,957	2,054
Income on operating derivatives									40	153	127
Other income									85	94	64
Total revenues									6,389	7,557	6,851
Death, other policy benefits and change in policy reserves, net of deferrals									897	873	1,048
Interest credited on other contract holder funds, net of deferrals and amortization									862	834	1,163
Interest expense									113	37	88
Operating costs and other expenses, net of deferrals									2,432	2,787	2,484
Amortization of deferred acquisition costs									453	245	94
Total benefits and expenses									4,757	4,776	4,877
Pretax income (loss)									1,632	2,781	1,974
Operating Segments | Retail Annuities
Segment Reporting Information [Line Items]
Fee income									4,108	4,636	3,806
Premiums									10	15	27
Net investment income									403	692	956
Income on operating derivatives									17	52	48
Other income									42	47	30
Total revenues									4,580	5,442	4,867
Death, other policy benefits and change in policy reserves, net of deferrals									59	13	142
Interest credited on other contract holder funds, net of deferrals and amortization									254	226	477
Interest expense									32	22	27
Operating costs and other expenses, net of deferrals									2,174	2,456	2,158
Amortization of deferred acquisition costs									435	197	57
Total benefits and expenses									2,954	2,914	2,861
Pretax income (loss)									1,626	2,528	2,006
Operating Segments | Closed Life and Annuity Blocks
Segment Reporting Information [Line Items]
Fee income									474	492	513
Premiums									134	145	172
Net investment income									706	950	778
Income on operating derivatives									31	72	58
Other income									35	39	25
Total revenues									1,380	1,698	1,546
Death, other policy benefits and change in policy reserves, net of deferrals									838	860	906
Interest credited on other contract holder funds, net of deferrals and amortization									407	420	436
Interest expense									0	0	0
Operating costs and other expenses, net of deferrals									130	180	187
Amortization of deferred acquisition costs									6	14	17
Total benefits and expenses									1,381	1,474	1,546
Pretax income (loss)									(1)	224	0
Operating Segments | Institutional Products
Segment Reporting Information [Line Items]
Fee income									0	0	0
Premiums									0	0	0
Net investment income									312	260	355
Income on operating derivatives									(22)	(3)	0
Other income									0	0	1
Total revenues									290	257	356
Death, other policy benefits and change in policy reserves, net of deferrals									0	0	0
Interest credited on other contract holder funds, net of deferrals and amortization									201	188	250
Interest expense									5	0	16
Operating costs and other expenses, net of deferrals									5	5	5
Amortization of deferred acquisition costs									0	0	0
Total benefits and expenses									211	193	271
Pretax income (loss)									79	64	85
Corporate and Other
Segment Reporting Information [Line Items]
Fee income									52	65	88
Premiums									0	0	0
Net investment income									65	55	(35)
Income on operating derivatives									14	32	21
Other income									8	8	8
Total revenues									139	160	82
Death, other policy benefits and change in policy reserves, net of deferrals									0	0	0
Interest credited on other contract holder funds, net of deferrals and amortization									0	0	0
Interest expense									76	15	45
Operating costs and other expenses, net of deferrals									123	146	134
Amortization of deferred acquisition costs									12	34	20
Total benefits and expenses									211	195	199
Pretax income (loss)									(72)	(35)	(117)
Intersegment eliminations
Segment Reporting Information [Line Items]
Total revenues									$ 74	$ 69	$ 78

Segment Information - Reconcili

Segment Information - Reconciliation of Revenues (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total revenues	$ (381)	$ 4,022	$ 6,546	$ 4,364	$ 1,725	$ 1,575	$ 341	$ 5,606	$ 14,551	$ 9,247	$ 3,546
Net gains (losses) on derivatives and investments									3,851	(2,478)	(6,451)
Operating Segments
Segment Reporting Information [Line Items]
Total revenues									6,389	7,557	6,851
Net gains (losses) on derivatives and investments									40	153	127
Segment Reconciling Items
Segment Reporting Information [Line Items]
Fees attributed to variable annuity benefit reserves									3,077	2,854	2,509
Net gains (losses) on derivatives and investments									3,810	(2,631)	(6,578)
Net investment income (loss) related to noncontrolling interests									43	262	(3)
Consolidated investments									(22)	17	(25)
Net investment income on funds withheld assets									$ 1,254	$ 1,188	$ 792

Segment Information - Reconci_2

Segment Information - Reconciliation of Benefits and Expenses (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total benefits and expenses	$ 572	$ 1,995	$ 2,895	$ 1,978	$ 977	$ 1,323	$ 879	$ 2,020	$ 7,440	$ 5,200	$ 6,037
Athene reinsurance transaction									0	0	2,520
Operating Segments
Segment Reporting Information [Line Items]
Total benefits and expenses									4,757	4,776	4,877
Segment Reconciling Items
Segment Reporting Information [Line Items]
Benefits attributed to variable annuity benefit reserves									238	119	150
Amortization of DAC and DSI related to non-operating revenues and expenses									1,288	275	(1,252)
SOP 03-1 reserve movements									1,155	(22)	164
Athene reinsurance transaction									0	0	2,082
Other items									$ 2	$ 52	$ 16

Segment Information - Reconci_3

Segment Information - Reconciliation of Net Income (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Pretax adjusted operating earnings	$ (953)	$ 2,027	$ 3,651	$ 2,386	$ 748	$ 252	$ (538)	$ 3,586	$ 7,111	$ 4,047	$ (2,491)
Non-operating adjustments (income) loss:
Net movement in freestanding derivatives									2,024	(2,639)	(7,268)
Net realized investment gains (losses) including change in fair value of funds withheld embedded derivative									(359)	182	377
Cost of reinsurance									0	0	(2,520)
Pretax income (loss) attributable to Jackson Financial Inc.									7,068	3,785	(2,488)
Income tax expense (benefit)	(235)	559	717	330	87	(16)	(54)	586	1,371	602	(854)
Net income (loss) attributable to Jackson Financial Inc.	$ (710)	$ 1,479	$ 2,903	$ 2,025	$ 585	$ 206	$ (540)	$ 2,932	5,697	3,183	(1,634)
Operating Segments
Segment Reporting Information [Line Items]
Pretax adjusted operating earnings									1,632	2,781	1,974
Segment Reconciling Items
Non-operating adjustments (income) loss:
Fees attributed to variable annuity benefit reserves									3,077	2,854	2,509
Net movement in freestanding derivatives									(2,744)	(5,674)	(4,662)
Net reserve and embedded derivative movements									2,891	2,753	(3,184)
DAC and DSI impact									(1,214)	(266)	1,261
Assumption changes									367	24	128
Net realized investment gains (losses) including change in fair value of funds withheld embedded derivative									1,827	161	817
Cost of reinsurance									0	0	(2,082)
Net investment income on funds withheld assets									1,254	1,188	792
Other items									$ (22)	$ (36)	$ (41)

Segment Information - Assets by

Segment Information - Assets by Segment (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total assets	$ 311,058	$ 375,559
Operating Segments | Retail Annuities
Segment Reporting Information [Line Items]
Total assets	265,557	327,194
Operating Segments | Closed Life and Annuity Blocks
Segment Reporting Information [Line Items]
Total assets	29,611	32,616
Operating Segments | Institutional Products
Segment Reporting Information [Line Items]
Total assets	10,175	10,713
Corporate and Other
Segment Reporting Information [Line Items]
Total assets	$ 5,715	$ 5,036

Investments - Narrative (Detail

Investments - Narrative (Details)			3 Months Ended		12 Months Ended
	Dec. 31, 2022 USD ($) state	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2022 USD ($) state	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Summary of Investment Holdings [Line Items]
Debt securities, rated by investment advisor	$ 32,000,000	$ 13,000,000			$ 32,000,000	$ 13,000,000
Securities on deposit with regulatory authorities	90,000,000	117,000,000			90,000,000	117,000,000
Aggregate fair value of securities sold at a loss					$ 5,376,000,000	$ 2,604,000,000	$ 7,612,000,000
Aggregate fair value of securities sold at a loss, percentage of book value					93%	95%	97%
Proceeds from sales of available-for-sale debt securities					$ 7,980,000,000	$ 9,600,000,000	$ 25,533,000,000
Collateralized loan obligation	276,000,000				276,000,000
Unconsolidated VIEs, exposure to loss	3,285,000,000	3,860,000,000			3,285,000,000	3,860,000,000
Equity securities	393,000,000	279,000,000			393,000,000	279,000,000
Mortgage loans	10,967,000,000	11,482,000,000			10,967,000,000	11,482,000,000
Allowance for credit loss	95,000,000	94,000,000			95,000,000	94,000,000	179,000,000
Financing receivables, accrued interest receivable	48,000,000	44,000,000			$ 48,000,000	44,000,000
Deferral of interest and principal payments, repayment period, COVID-19					1 year
Deferred interest and principal payments, COVID-19	10,000,000				$ 10,000,000
Recorded investment	15,000,000	6,000,000			15,000,000	6,000,000
Unpaid principal balance, no related allowance	16,000,000	7,000,000			16,000,000	7,000,000
Average recorded investment					18,000,000	2,000,000
Investment income					0	0
Stressed loans	3,000,000	0			3,000,000	0
Policy loans, fair value under fair value option	3,419,000,000	3,467,000,000			3,419,000,000	3,467,000,000
Policy loans not held as collateral for reinsurance	1,000,000,000	1,000,000,000			1,000,000,000	1,000,000,000
Other invested assets	3,595,000,000	3,199,000,000			3,595,000,000	3,199,000,000
Investment in limited partnership				$ 420,000,000
Sale of limited partnership investments			$ 168,000,000	$ 236,000,000
Securities loaned	$ 35,000,000	17,000,000			$ 35,000,000	17,000,000
Securities loaned, minimum percent of fair value required as collateral	102%				102%
Securities loaned, cash collateral	$ 36,000,000	$ 17,000,000			$ 36,000,000	17,000,000
Repurchase agreements, weighted average interest rate	2.54%	0.07%
Repurchase agreement balance	$ 1,012,000,000	$ 1,572,000,000			1,012,000,000	1,572,000,000
Interest expense					113,000,000	37,000,000	88,000,000
Repurchase agreements, highest level of amount outstanding					1,012,000,000	2,349,000,000
Repurchase agreements
Summary of Investment Holdings [Line Items]
Short-term debt	311,000,000	1,548,000,000			$ 311,000,000	1,548,000,000
Minimum
Summary of Investment Holdings [Line Items]
Deferral of interest and principal payments, period, COVID-19					6 months
Maximum
Summary of Investment Holdings [Line Items]
Deferral of interest and principal payments, period, COVID-19					14 months
Commercial mortgage loans
Summary of Investment Holdings [Line Items]
Mortgage loans	10,200,000,000	10,500,000,000			$ 10,200,000,000	10,500,000,000
Allowance for credit loss	$ 91,000,000	85,000,000			$ 91,000,000	85,000,000
Financing receivables, collateralized by properties, number of states | state	38				38
Financing receivables, accrued interest receivable	$ 39,000,000	32,000,000			$ 39,000,000	32,000,000
Residential mortgage loans
Summary of Investment Holdings [Line Items]
Mortgage loans	1,308,000,000	939,000,000			1,308,000,000	939,000,000
Allowance for credit loss	$ 4,000,000	9,000,000			$ 4,000,000	9,000,000
Financing receivables, collateralized by properties, number of states | state	50				50
Financing receivables, accrued interest receivable	$ 9,000,000	13,000,000			$ 9,000,000	13,000,000
Unconsolidated VIEs
Summary of Investment Holdings [Line Items]
Equity securities	28,000,000	33,000,000			28,000,000	33,000,000
Unfunded partnership investment commitment
Summary of Investment Holdings [Line Items]
Unfunded commitments	$ 1,402,000,000	300,000,000			$ 1,402,000,000	300,000,000
Corporate securities, utilities
Summary of Investment Holdings [Line Items]
Debt securities, unrealized losses, percentage	16%				16%
Corporate securities, healthcare
Summary of Investment Holdings [Line Items]
Debt securities, unrealized losses, percentage	10%				10%
Corporate securities | Single corporate obligor
Summary of Investment Holdings [Line Items]
Debt securities, unrealized loss	$ 57,000,000	$ 16,000,000			$ 57,000,000	$ 16,000,000
Corporate securities, financial services
Summary of Investment Holdings [Line Items]
Debt securities, unrealized losses, percentage		16%				16%
Corporate debt securities, energy
Summary of Investment Holdings [Line Items]
Debt securities, unrealized losses, percentage		15%				15%
Equity securities
Summary of Investment Holdings [Line Items]
Unrealized gains (losses)					(52,000,000)	$ 26,000,000	(51,000,000)
Federal Home Loan Bank capital stock
Summary of Investment Holdings [Line Items]
Other invested assets	146,000,000	$ 125,000,000			146,000,000	125,000,000
Real estate
Summary of Investment Holdings [Line Items]
Other invested assets	237,000,000	243,000,000			237,000,000	243,000,000
Real estate, foreclosed properties
Summary of Investment Holdings [Line Items]
Other invested assets	0	1,000,000			0	1,000,000
Limited partnerships
Summary of Investment Holdings [Line Items]
Other invested assets	$ 3,212,000,000	$ 2,831,000,000			3,212,000,000	2,831,000,000
Repurchase agreements
Summary of Investment Holdings [Line Items]
Interest expense					$ 8,000,000	$ 1,000,000	$ 1,000,000
Investment grade
Summary of Investment Holdings [Line Items]
Debt securities in an unrealized loss position, percentage	78%	76%			78%	76%
Below investment grade
Summary of Investment Holdings [Line Items]
Debt securities in an unrealized loss position, percentage	2%	2%			2%	2%
Not rated
Summary of Investment Holdings [Line Items]
Debt securities in an unrealized loss position, percentage	20%	22%			20%	22%
Below investment grade or not rated
Summary of Investment Holdings [Line Items]
Debt securities, unrealized losses, percentage	21%	16%			21%	16%

Investments - Composition of Fa

Investments - Composition of Fair Value of Debt Securities Classified by Rating (Details)	Dec. 31, 2022	Dec. 31, 2021
Investment Holdings [Line Items]
Percent of total debt securities carrying value	100%	100%
Investment grade
Investment Holdings [Line Items]
Percent of total debt securities carrying value	92.40%	93.50%
Below investment grade
Investment Holdings [Line Items]
Percent of total debt securities carrying value	7.60%	6.50%
AAA | Investment grade
Investment Holdings [Line Items]
Percent of total debt securities carrying value	17.90%	14.50%
AA | Investment grade
Investment Holdings [Line Items]
Percent of total debt securities carrying value	8.20%	9.60%
A | Investment grade
Investment Holdings [Line Items]
Percent of total debt securities carrying value	29.90%	28.50%
BBB | Investment grade
Investment Holdings [Line Items]
Percent of total debt securities carrying value	36.40%	40.90%
BB | Below investment grade
Investment Holdings [Line Items]
Percent of total debt securities carrying value	3.90%	3.60%
B and below | Below investment grade
Investment Holdings [Line Items]
Percent of total debt securities carrying value	3.70%	2.90%

Investments - Debt Securities -

Investments - Debt Securities - Amortized Cost, Gross Unrealized Gains and Losses, Fair Value and Allowance For Credit Loss (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Summary of Investment Holdings [Line Items]
Amortized Cost	$ 51,071	$ 51,206
Allowance for Credit Loss	23	9
Gross Unrealized Gains	115	2,790
Gross Unrealized Losses	6,401	612
Fair Value	44,762	53,375
U.S. government securities
Summary of Investment Holdings [Line Items]
Amortized Cost	6,192	4,525
Allowance for Credit Loss	0	0
Gross Unrealized Gains	1	97
Gross Unrealized Losses	1,008	301
Fair Value	5,185	4,321
Other government securities
Summary of Investment Holdings [Line Items]
Amortized Cost	1,719	1,489
Allowance for Credit Loss	2	0
Gross Unrealized Gains	1	147
Gross Unrealized Losses	251	17
Fair Value	1,467	1,619
Public utilities
Summary of Investment Holdings [Line Items]
Amortized Cost	5,893	6,069
Allowance for Credit Loss	0	0
Gross Unrealized Gains	27	671
Gross Unrealized Losses	695	25
Fair Value	5,225	6,715
Corporate securities
Summary of Investment Holdings [Line Items]
Amortized Cost	28,803	29,701
Allowance for Credit Loss	15	0
Gross Unrealized Gains	59	1,682
Gross Unrealized Losses	3,701	237
Fair Value	25,146	31,146
Residential mortgage-backed
Summary of Investment Holdings [Line Items]
Amortized Cost	510	528
Allowance for Credit Loss	6	2
Gross Unrealized Gains	19	46
Gross Unrealized Losses	59	3
Fair Value	464	569
Commercial mortgage-backed
Summary of Investment Holdings [Line Items]
Amortized Cost	1,821	1,968
Allowance for Credit Loss	0	0
Gross Unrealized Gains	0	76
Gross Unrealized Losses	183	6
Fair Value	1,638	2,038
Other asset-backed securities
Summary of Investment Holdings [Line Items]
Amortized Cost	6,133	6,926
Allowance for Credit Loss	0	7
Gross Unrealized Gains	8	71
Gross Unrealized Losses	504	23
Fair Value	$ 5,637	$ 6,967

Investments - Debt Securities M

Investments - Debt Securities Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Amortized Cost
Due in 1 year or less	$ 2,472
Due after 1 year through 5 years	9,761
Due after 5 years through 10 years	13,477
Due after 10 years through 20 years	9,165
Due after 20 years	7,732
Total	51,071	$ 51,206
Allowance for Credit Loss
Due in 1 year or less	0
Due after 1 year through 5 years	3
Due after 5 years through 10 years	11
Due after 10 years through 20 years	3
Due after 20 years	0
Total	23	9
Gross Unrealized Gains
Due in 1 year or less	0
Due after 1 year through 5 years	15
Due after 5 years through 10 years	26
Due after 10 years through 20 years	46
Due after 20 years	1
Total	115	2,790
Gross Unrealized Losses
Due in 1 year or less	7
Due after 1 year through 5 years	435
Due after 5 years through 10 years	1,541
Due after 10 years through 20 years	1,658
Due after 20 years	2,014
Total	6,401	612
Fair Value
Due in 1 year or less	2,465
Due after 1 year through 5 years	9,338
Due after 5 years through 10 years	11,951
Due after 10 years through 20 years	7,550
Due after 20 years	5,719
Debt securities	44,762	53,375
Residential mortgage-backed
Amortized Cost
Without single maturity	510
Total	510	528
Allowance for Credit Loss
Without single maturity	6
Total	6	2
Gross Unrealized Gains
Without single maturity	19
Total	19	46
Gross Unrealized Losses
Without single maturity	59
Total	59	3
Fair Value
Without single maturity	464
Debt securities	464	569
Commercial mortgage-backed
Amortized Cost
Without single maturity	1,821
Total	1,821	1,968
Allowance for Credit Loss
Without single maturity	0
Total	0	0
Gross Unrealized Gains
Without single maturity	0
Total	0	76
Gross Unrealized Losses
Without single maturity	183
Total	183	6
Fair Value
Without single maturity	1,638
Debt securities	1,638	2,038
Other asset-backed securities
Amortized Cost
Without single maturity	6,133
Total	6,133	6,926
Allowance for Credit Loss
Without single maturity	0
Total	0	7
Gross Unrealized Gains
Without single maturity	8
Total	8	71
Gross Unrealized Losses
Without single maturity	504
Total	504	23
Fair Value
Without single maturity	5,637
Debt securities	$ 5,637	$ 6,967

Investments - Residential Mortg

Investments - Residential Mortgage-Backed Securities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Summary of Investment Holdings [Line Items]
Amortized Cost	$ 51,071	$ 51,206
Allowance for Credit Loss	23	9
Gross Unrealized Gains	115	2,790
Gross Unrealized Losses	6,401	612
Fair Value	44,762	53,375
Non-agency RMBS
Summary of Investment Holdings [Line Items]
Amortized Cost	317	361
Allowance for Credit Loss	6	2
Gross Unrealized Gains	19	44
Gross Unrealized Losses	41	2
Fair Value	289	401
Non-agency RMBS | Prime
Summary of Investment Holdings [Line Items]
Amortized Cost	206	228
Allowance for Credit Loss	4	1
Gross Unrealized Gains	2	10
Gross Unrealized Losses	30	2
Fair Value	174	235
Non-agency RMBS | Alt-A
Summary of Investment Holdings [Line Items]
Amortized Cost	84	94
Allowance for Credit Loss	2	1
Gross Unrealized Gains	7	21
Gross Unrealized Losses	10	0
Fair Value	79	114
Non-agency RMBS | Subprime
Summary of Investment Holdings [Line Items]
Amortized Cost	27	39
Allowance for Credit Loss	0	0
Gross Unrealized Gains	10	13
Gross Unrealized Losses	1	0
Fair Value	$ 36	$ 52

Investments - Debt Securities i

Investments - Debt Securities in Continuous Unrealized Loss Position (Details) $ in Millions	Dec. 31, 2022 USD ($) security	Dec. 31, 2021 USD ($) security
Summary of Investment Holdings [Line Items]
Less than 12 months, gross unrealized losses	$ 3,571	$ 246
Less than 12 months, fair value	$ 30,605	$ 11,135
Less than 12 months, # of securities | security	3,786	1,344
12 months or longer, gross unrealized losses	$ 2,830	$ 366
12 months or longer, fair value	$ 8,508	$ 4,006
12 months or longer, # of securities | security	1,056	104
Total, gross unrealized losses	$ 6,401	$ 612
Total, fair value	$ 39,113	$ 15,141
Total, # of securities | security	4,645	1,421
U.S. government securities
Summary of Investment Holdings [Line Items]
Less than 12 months, gross unrealized losses	$ 339	$ 2
Less than 12 months, fair value	$ 2,815	$ 107
Less than 12 months, # of securities | security	40	16
12 months or longer, gross unrealized losses	$ 669	$ 299
12 months or longer, fair value	$ 1,386	$ 3,190
12 months or longer, # of securities | security	6	7
Total, gross unrealized losses	$ 1,008	$ 301
Total, fair value	$ 4,201	$ 3,297
Total, # of securities | security	42	21
Other government securities
Summary of Investment Holdings [Line Items]
Less than 12 months, gross unrealized losses	$ 174	$ 17
Less than 12 months, fair value	$ 1,258	$ 252
Less than 12 months, # of securities | security	143	23
12 months or longer, gross unrealized losses	$ 77	$ 0
12 months or longer, fair value	$ 177	$ 4
12 months or longer, # of securities | security	23	2
Total, gross unrealized losses	$ 251	$ 17
Total, fair value	$ 1,435	$ 256
Total, # of securities | security	162	25
Public utilities
Summary of Investment Holdings [Line Items]
Less than 12 months, gross unrealized losses	$ 508	$ 17
Less than 12 months, fair value	$ 4,279	$ 721
Less than 12 months, # of securities | security	490	93
12 months or longer, gross unrealized losses	$ 187	$ 7
12 months or longer, fair value	$ 520	$ 99
12 months or longer, # of securities | security	87	8
Total, gross unrealized losses	$ 695	$ 24
Total, fair value	$ 4,799	$ 820
Total, # of securities | security	562	98
Corporate securities
Summary of Investment Holdings [Line Items]
Less than 12 months, gross unrealized losses	$ 2,087	$ 180
Less than 12 months, fair value	$ 17,068	$ 6,343
Less than 12 months, # of securities | security	2,323	728
12 months or longer, gross unrealized losses	$ 1,614	$ 58
12 months or longer, fair value	$ 4,601	$ 661
12 months or longer, # of securities | security	644	69
Total, gross unrealized losses	$ 3,701	$ 238
Total, fair value	$ 21,669	$ 7,004
Total, # of securities | security	2,806	776
Residential mortgage-backed
Summary of Investment Holdings [Line Items]
Less than 12 months, gross unrealized losses	$ 43	$ 3
Less than 12 months, fair value	$ 279	$ 174
Less than 12 months, # of securities | security	196	109
12 months or longer, gross unrealized losses	$ 16	$ 0
12 months or longer, fair value	$ 81	$ 11
12 months or longer, # of securities | security	94	12
Total, gross unrealized losses	$ 59	$ 3
Total, fair value	$ 360	$ 185
Total, # of securities | security	290	121
Commercial mortgage-backed
Summary of Investment Holdings [Line Items]
Less than 12 months, gross unrealized losses	$ 138	$ 5
Less than 12 months, fair value	$ 1,421	$ 314
Less than 12 months, # of securities | security	177	37
12 months or longer, gross unrealized losses	$ 45	$ 1
12 months or longer, fair value	$ 192	$ 30
12 months or longer, # of securities | security	31	3
Total, gross unrealized losses	$ 183	$ 6
Total, fair value	$ 1,613	$ 344
Total, # of securities | security	206	39
Other asset-backed securities
Summary of Investment Holdings [Line Items]
Less than 12 months, gross unrealized losses	$ 282	$ 22
Less than 12 months, fair value	$ 3,485	$ 3,224
Less than 12 months, # of securities | security	417	338
12 months or longer, gross unrealized losses	$ 222	$ 1
12 months or longer, fair value	$ 1,551	$ 11
12 months or longer, # of securities | security	171	3
Total, gross unrealized losses	$ 504	$ 23
Total, fair value	$ 5,036	$ 3,235
Total, # of securities | security	577	341

Investments - Rollforward of Al

Investments - Rollforward of Allowance for Debt Securities Credit Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 9	$ 14
Additions for which credit loss was not previously recorded	54	2
Changes for securities with previously recorded credit loss	(18)	9
Additions for purchases of PCD debt securities	0	0
Reductions from charge-offs	0	0
Reductions for securities disposed	(5)	(16)
Securities intended/required to be sold before recovery of amortized cost basis	(17)	0
Ending balance	23	9
Accrued interest receivable on debt securities	$ 407	$ 381
Debt Securities Available for Sale Accrued Interest After Allowance for Credit Loss Statement of Financial Position Extensible List Not Disclosed Flag	Accrued interest receivable	Accrued interest receivable
U.S. government securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 0	$ 0
Additions for which credit loss was not previously recorded	0	0
Changes for securities with previously recorded credit loss	0	0
Additions for purchases of PCD debt securities	0	0
Reductions from charge-offs	0	0
Reductions for securities disposed	0	0
Securities intended/required to be sold before recovery of amortized cost basis	0	0
Ending balance	0	0
Other government securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Beginning balance	0	0
Additions for which credit loss was not previously recorded	6	0
Changes for securities with previously recorded credit loss	0	0
Additions for purchases of PCD debt securities	0	0
Reductions from charge-offs	0	0
Reductions for securities disposed	(4)	0
Securities intended/required to be sold before recovery of amortized cost basis	0	0
Ending balance	2	0
Public utilities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Beginning balance	0	0
Additions for which credit loss was not previously recorded	1	0
Changes for securities with previously recorded credit loss	(1)	0
Additions for purchases of PCD debt securities	0	0
Reductions from charge-offs	0	0
Reductions for securities disposed	0	0
Securities intended/required to be sold before recovery of amortized cost basis	0	0
Ending balance	0	0
Corporate securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Beginning balance	0	0
Additions for which credit loss was not previously recorded	43	0
Changes for securities with previously recorded credit loss	(10)	0
Additions for purchases of PCD debt securities	0	0
Reductions from charge-offs	0	0
Reductions for securities disposed	(1)	0
Securities intended/required to be sold before recovery of amortized cost basis	(17)	0
Ending balance	15	0
Residential mortgage-backed
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Beginning balance	2	0
Additions for which credit loss was not previously recorded	4	2
Changes for securities with previously recorded credit loss	0	0
Additions for purchases of PCD debt securities	0	0
Reductions from charge-offs	0	0
Reductions for securities disposed	0	0
Securities intended/required to be sold before recovery of amortized cost basis	0	0
Ending balance	6	2
Commercial mortgage-backed
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Beginning balance	0	0
Additions for which credit loss was not previously recorded	0	0
Changes for securities with previously recorded credit loss	0	0
Additions for purchases of PCD debt securities	0	0
Reductions from charge-offs	0	0
Reductions for securities disposed	0	0
Securities intended/required to be sold before recovery of amortized cost basis	0	0
Ending balance	0	0
Other asset-backed securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Beginning balance	7	14
Additions for which credit loss was not previously recorded	0	0
Changes for securities with previously recorded credit loss	(7)	9
Additions for purchases of PCD debt securities	0	0
Reductions from charge-offs	0	0
Reductions for securities disposed	0	(16)
Securities intended/required to be sold before recovery of amortized cost basis	0	0
Ending balance	$ 0	$ 7

Investments - Sources of Net In

Investments - Sources of Net Investment Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investment expenses:
Other investment expenses on funds withheld assets	$ (100)	$ (126)	$ (138)
Net investment income	2,761	3,424	2,818
Debt securities
Net Investment Income [Line Items]
Total investment income excluding funds withheld assets	1,076	1,154	1,617
Equity securities
Net Investment Income [Line Items]
Total investment income excluding funds withheld assets	(16)	8	(14)
Mortgage loans
Net Investment Income [Line Items]
Total investment income excluding funds withheld assets	285	319	365
Policy loans
Net Investment Income [Line Items]
Total investment income excluding funds withheld assets	69	73	79
Limited partnerships
Net Investment Income [Line Items]
Total investment income excluding funds withheld assets	144	795	105
Other invested assets
Net Investment Income [Line Items]
Total investment income excluding funds withheld assets	49	13	12
Total investment income excluding funds withheld assets
Net Investment Income [Line Items]
Total investment income excluding funds withheld assets	1,607	2,362	2,164
Policy loans
Investment expenses:
Other investment expenses on funds withheld assets	(85)	(107)	(66)
Net investment income	1,254	1,188	792
Debt securities, at fair value under the fair value option
Investment expenses:
Net investment income	$ (149)	$ 26	$ (25)

Investments - Net Gains (Losses

Investments - Net Gains (Losses) on Derivatives and Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Available-for-sale securities
Realized gains on sale	$ 41	$ 169	$ 778
Realized losses on sale	(429)	(88)	(196)
Credit loss income (expense)	(5)	(10)	(14)
Gross impairments	0	0	(27)
Credit loss income (expense) on mortgage loans	(16)	62	(61)
Other	50	49	(103)
Net gains (losses) excluding derivatives and funds withheld assets	(359)	182	377
Net gains (losses) on derivative instruments	5,395	(1,875)	(8,323)
Total net gains (losses) on derivatives and investments	3,851	(2,478)	(6,451)
Derivatives excluding funds withheld under reinsurance treaties
Available-for-sale securities
Net gains (losses) on derivative instruments	2,024	(2,639)	(7,268)
Derivatives related to funds withheld under reinsurance treaties
Available-for-sale securities
Net gains (losses) on derivative instruments	3,371	764	(1,055)
Net gains (losses) on funds withheld reinsurance treaties (see Note 8)	$ 2,186	$ (21)	$ 440

Investments - Asset and Liabili

Investments - Asset and Liability Information for Consolidated VIEs (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Summary of Investment Holdings [Line Items]
Debt securities, at fair value under fair value option	$ 42,489	$ 51,547
Debt securities, trading	100	117
Equity securities	393	279
Other invested assets			$ 420
Other assets	946	928
Total assets	311,058	375,559
Notes issued by consolidated VIEs, at fair value under fair value option	1,732	1,404
Total other liabilities	2,403	2,540
Securities lending payable	36	17
Total liabilities	301,903	364,485
Equity	9,155	11,074		$ 9,923	$ 7,322
Variable Interest Entity, Primary Beneficiary
Summary of Investment Holdings [Line Items]
Debt securities, at fair value under fair value option	2,014	1,546
Debt securities, trading	100	117
Equity securities	127	129
Other invested assets	1,507	1,309
Cash and cash equivalents	75	120
Other assets	19	45
Total assets	3,842	3,266
Notes issued by consolidated VIEs, at fair value under fair value option	1,732	1,404
Other liabilities	343	307
Total other liabilities	2,075	1,711
Securities lending payable	4	4
Total liabilities	2,079	1,715
Equity	$ 732	$ 680

Investments - Rollforward of Mo

Investments - Rollforward of Mortgages Allowance for Credit Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance	$ 94	$ 179
Charge offs, net of recoveries	0	0
Additions from purchase of PCD mortgage loans	0	0
Provision (release)	1	(85)
Balance	95	94
Financing receivables, accrued interest receivable	$ 48	$ 44
Financing Receivable, Accrued Interest, After Allowance for Credit Loss, Statement of Financial Position, Extensible List, Not Disclosed Flag	Consolidated Balance Sheets	Consolidated Balance Sheets
Apartment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance	$ 19	$ 58
Charge offs, net of recoveries	0	0
Additions from purchase of PCD mortgage loans	0	0
Provision (release)	(1)	(39)
Balance	18	19
Hotel
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance	9	34
Charge offs, net of recoveries	0	0
Additions from purchase of PCD mortgage loans	0	0
Provision (release)	11	(25)
Balance	20	9
Office
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance	28	25
Charge offs, net of recoveries	0	0
Additions from purchase of PCD mortgage loans	0	0
Provision (release)	(13)	3
Balance	15	28
Retail
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance	17	24
Charge offs, net of recoveries	0	0
Additions from purchase of PCD mortgage loans	0	0
Provision (release)	5	(7)
Balance	22	17
Warehouse
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance	12	24
Charge offs, net of recoveries	0	0
Additions from purchase of PCD mortgage loans	0	0
Provision (release)	4	(12)
Balance	16	12
Residential Mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance	9	14
Charge offs, net of recoveries	0	0
Additions from purchase of PCD mortgage loans	0	0
Provision (release)	(5)	(5)
Balance	$ 4	$ 9

Investments - Information About

Investments - Information About Credit Quality and Vintage Year of Commercial Mortgage Loans (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 1,315	$ 1,887
Year two	1,927	1,447
Year three	1,260	1,671
Year four	1,554	1,691
Year five	1,511	1,420
Prior	3,978	3,362
Revolving Loans	4	4
Total	$ 11,549	$ 11,482
% of Total	100%	100%
Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 896	$ 1,615
Year two	1,608	1,381
Year three	1,203	1,631
Year four	1,511	1,656
Year five	1,490	1,390
Prior	3,529	2,866
Revolving Loans	4	4
Total	$ 10,241	$ 10,543
% of Total	100%	100%
Residential mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 419	$ 272
Year two	319	66
Year three	57	40
Year four	43	35
Year five	21	30
Prior	449	496
Revolving Loans	0	0
Total	$ 1,308	$ 939
% of Total	100%	100%
Residential mortgage loans | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 413	$ 268
Year two	308	22
Year three	49	18
Year four	37	16
Year five	14	7
Prior	409	396
Revolving Loans	0	0
Total	$ 1,230	$ 727
% of Total	94%	77%
Residential mortgage loans | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 6	$ 4
Year two	11	44
Year three	8	22
Year four	6	19
Year five	7	23
Prior	40	100
Revolving Loans	0	0
Total	$ 78	$ 212
% of Total	6%	23%
Greater than 1.20x | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 694	$ 796
Year two	1,092	974
Year three	955	1,532
Year four	1,387	1,293
Year five	1,324	1,257
Prior	3,211	2,609
Revolving Loans	4	4
Total	$ 8,667	$ 8,465
% of Total	85%	80%
1.00x - 1.20x | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 202	$ 651
Year two	372	329
Year three	106	81
Year four	83	90
Year five	34	11
Prior	172	68
Revolving Loans	0	0
Total	$ 969	$ 1,230
% of Total	9%	12%
Less than 1.00x | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 0	$ 168
Year two	144	78
Year three	142	18
Year four	41	273
Year five	132	122
Prior	146	189
Revolving Loans	0	0
Total	$ 605	$ 848
% of Total	6%	8%
Less than 70% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 771	$ 1,270
Year two	1,266	1,346
Year three	1,171	1,592
Year four	1,473	1,599
Year five	1,480	1,305
Prior	3,421	2,703
Revolving Loans	4	4
Total	$ 9,586	$ 9,819
% of Total	94%	93%
70% - 80% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 125	$ 345
Year two	190	35
Year three	32	0
Year four	13	52
Year five	5	85
Prior	59	153
Revolving Loans	0	0
Total	$ 424	$ 670
% of Total	4%	6%
80% - 100% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 0	$ 0
Year two	152	0
Year three	0	39
Year four	0	5
Year five	5	0
Prior	40	0
Revolving Loans	0	0
Total	$ 197	$ 44
% of Total	2%	0%
Greater than 100% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 0	$ 0
Year two	0	0
Year three	0	0
Year four	25	0
Year five	0	0
Prior	9	10
Revolving Loans	0	0
Total	$ 34	$ 10
% of Total	0%	0%

Investments - Mortgages by Stan

Investments - Mortgages by Standing (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	$ 11,549	$ 11,482
Restructured	0	0
In the Process of Foreclosure	15	6
In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	11,471	11,270
Greater than 90 Days Delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	63	206
Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	10,241	10,543
Restructured	0	0
In the Process of Foreclosure	0	0
Commercial mortgage loans | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	10,241	10,543
Commercial mortgage loans | Greater than 90 Days Delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	0	0
Commercial mortgage loans | Apartment
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	3,558	3,755
Restructured	0	0
In the Process of Foreclosure	0	0
Commercial mortgage loans | Apartment | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	3,558	3,755
Commercial mortgage loans | Apartment | Greater than 90 Days Delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	0	0
Commercial mortgage loans | Hotel
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	1,015	1,054
Restructured	0	0
In the Process of Foreclosure	0	0
Commercial mortgage loans | Hotel | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	1,015	1,054
Commercial mortgage loans | Hotel | Greater than 90 Days Delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	0	0
Commercial mortgage loans | Office
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	1,795	1,889
Restructured	0	0
In the Process of Foreclosure	0	0
Commercial mortgage loans | Office | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	1,795	1,889
Commercial mortgage loans | Office | Greater than 90 Days Delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	0	0
Commercial mortgage loans | Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	2,085	2,104
Restructured	0	0
In the Process of Foreclosure	0	0
Commercial mortgage loans | Retail | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	2,085	2,104
Commercial mortgage loans | Retail | Greater than 90 Days Delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	0	0
Commercial mortgage loans | Warehouse
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	1,788	1,741
Restructured	0	0
In the Process of Foreclosure	0	0
Commercial mortgage loans | Warehouse | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	1,788	1,741
Commercial mortgage loans | Warehouse | Greater than 90 Days Delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	0	0
Residential mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	1,308	939
Residential mortgage loans | Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	1,308	939
Restructured	0	0
In the Process of Foreclosure	15	6
Residential mortgage loans | Residential | Financial Asset Acquired with Credit Deterioration
Financing Receivable, Credit Quality Indicator [Line Items]
In the Process of Foreclosure	12	5
Residential mortgage loans | Residential | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	1,230	727
Residential mortgage loans | Residential | Greater than 90 Days Delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	63	206
Residential mortgage loans | Residential | Greater than 90 Days Delinquent | Financial Asset Acquired with Credit Deterioration
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	41	202
Mezzanine loans | Apartment | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	410	278
Mezzanine loans | Hotel | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	41	75
Mezzanine loans | Office | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	236	252
Mezzanine loans | Retail | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	43	27
Mezzanine loans | Warehouse | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	$ 140	$ 26

Derivative Instruments - Aggreg

Derivative Instruments - Aggregate Contractual Notional Amounts and Fair Values of Derivatives (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets
Fair Value	$ 1,270	$ 1,417
Liabilities
Fair Value	2,065	41
Freestanding derivatives
Derivative [Line Items]
Contractual/Notional Amount	209,813	97,665
Assets
Fair Value	1,173	1,374
Liabilities
Fair Value	2,046	35
Net Fair Value	(873)	1,339
Freestanding derivatives | Cross-currency swaps
Derivative [Line Items]
Contractual/Notional Amount	1,825	1,767
Assets
Fair Value	73	55
Liabilities
Fair Value	104	35
Net Fair Value	(31)	20
Freestanding derivatives | Equity index call options
Derivative [Line Items]
Contractual/Notional Amount	17,500	21,000
Assets
Fair Value	106	606
Liabilities
Fair Value	0	0
Net Fair Value	106	606
Freestanding derivatives | Equity index futures
Derivative [Line Items]
Contractual/Notional Amount	19,760	18,258
Assets
Fair Value	0	0
Liabilities
Fair Value	0	0
Net Fair Value	0	0
Freestanding derivatives | Equity index put options
Derivative [Line Items]
Contractual/Notional Amount	30,500	27,500
Assets
Fair Value	958	150
Liabilities
Fair Value	0	0
Net Fair Value	958	150
Freestanding derivatives | Interest rate swaps
Derivative [Line Items]
Contractual/Notional Amount	7,728	7,728
Assets
Fair Value	5	430
Liabilities
Fair Value	231	0
Net Fair Value	(226)	430
Freestanding derivatives | Interest rate swaps - cleared
Derivative [Line Items]
Contractual/Notional Amount	1,500	1,500
Assets
Fair Value	0	0
Liabilities
Fair Value	0	0
Net Fair Value	0	0
Freestanding derivatives | Put-swaptions
Derivative [Line Items]
Contractual/Notional Amount	25,000	19,000
Assets
Fair Value	0	133
Liabilities
Fair Value	1,711	0
Net Fair Value	(1,711)	133
Freestanding derivatives | Interest rate futures
Derivative [Line Items]
Contractual/Notional Amount	105,261	912
Assets
Fair Value	0	0
Liabilities
Fair Value	0	0
Net Fair Value	0	0
Freestanding derivatives | Total return swaps
Derivative [Line Items]
Contractual/Notional Amount	739
Assets
Fair Value	31
Liabilities
Fair Value	0
Net Fair Value	31
Embedded derivatives
Assets
Fair Value	2,154	0
Liabilities
Fair Value	1,136	4,071
Net Fair Value	1,018	(4,071)
Embedded derivatives | Variable annuity embedded derivatives
Assets
Fair Value	2,154	0
Liabilities
Fair Value	0	2,626
Net Fair Value	2,154	(2,626)
Embedded derivatives | Fixed index annuity embedded derivatives
Assets
Fair Value	0	0
Liabilities
Fair Value	931	1,439
Net Fair Value	(931)	(1,439)
Embedded derivatives | Registered index linked annuity embedded derivatives
Assets
Fair Value	0	0
Liabilities
Fair Value	205	6
Net Fair Value	(205)	(6)
Derivatives related to funds withheld under reinsurance treaties
Derivative [Line Items]
Contractual/Notional Amount	1,648	1,277
Assets
Fair Value	3,255	43
Liabilities
Fair Value	19	126
Net Fair Value	3,236	(83)
Derivatives related to funds withheld under reinsurance treaties | Cross-currency swaps
Derivative [Line Items]
Contractual/Notional Amount	158	158
Assets
Fair Value	23	10
Liabilities
Fair Value	1	1
Net Fair Value	22	9
Derivatives related to funds withheld under reinsurance treaties | Cross-currency forwards
Derivative [Line Items]
Contractual/Notional Amount	1,490	1,119
Assets
Fair Value	74	33
Liabilities
Fair Value	18	5
Net Fair Value	56	28
Derivatives related to funds withheld under reinsurance treaties | Funds withheld embedded derivative
Assets
Fair Value	3,158	0
Liabilities
Fair Value	0	120
Net Fair Value	3,158	(120)
Derivative assets
Derivative [Line Items]
Contractual/Notional Amount	211,461	98,942
Assets
Fair Value	6,582	1,417
Derivative liabilities
Liabilities
Fair Value	3,201	4,232
Derivative instruments
Liabilities
Net Fair Value	$ 3,381	$ (2,815)

Derivative Instruments - Gains

Derivative Instruments - Gains and Losses, and Change in Fair Value of Derivatives (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	$ 5,395	$ (1,875)	$ (8,323)
Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	2,024	(2,639)	(7,268)
Derivatives related to funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	3,371	764	(1,055)
Cross-currency swaps | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	(67)	(36)	74
Cross-currency swaps | Derivatives related to funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	14	15	(5)
Equity index call options | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	(1,830)	1,479	1,468
Equity index futures | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	3,005	(4,663)	(8,286)
Equity index put options | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	(244)	(1,202)	(218)
Interest rate swaps | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	(615)	(179)	578
Interest rate swaps - cleared | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	(201)	(64)	1
Put-swaptions | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	(1,832)	134	199
Interest rate futures | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	(925)	(989)	1,650
Interest rate futures | Derivatives related to funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	0	0	(204)
Total return swaps | Freestanding derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	5	0	0
Variable annuity embedded derivatives | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	4,688	2,887	(2,764)
Fixed index annuity embedded derivatives | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	3	(5)	30
Registered index linked annuity embedded derivatives | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	37	(1)	0
Cross-currency forwards | Derivatives related to funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	79	42	(19)
Funds withheld embedded derivative | Derivatives related to funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	$ 3,278	$ 707	$ (827)

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative assets by counterparty	$ 885,000,000	$ 1,376,000,000
Derivative assets, held collateral	858,000,000	1,576,000,000
Derivative liabilities by counterparty	1,680,000,000	0
Derivative liabilities, held collateral	1,650,000,000	0
Derivative disbursement obligation	30,000,000	200,000,000
Derivative claim	27,000,000	0
Embedded derivatives
Derivative [Line Items]
Net fair value, derivative asset (liability)	1,018,000,000	(4,071,000,000)
Derivatives related to funds withheld under reinsurance treaties
Derivative [Line Items]
Net fair value, derivative asset (liability)	3,236,000,000	(83,000,000)
Derivatives related to funds withheld under reinsurance treaties | Funds withheld embedded derivative
Derivative [Line Items]
Net fair value, derivative asset (liability)	$ 3,158,000,000	$ (120,000,000)

Derivative Instruments - Gross

Derivative Instruments - Gross and Net Information About Financial Instruments Subject to Master Netting Arrangements (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Freestanding derivative assets
Gross Amounts Recognized	$ 1,270	$ 1,417
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts Presented in the Consolidated Balance Sheets	1,270	1,417
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments	385	41
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Cash Collateral	683	817
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Securities Collateral	157	555
Net Amount	45	4
Freestanding derivative liabilities
Gross Amounts Recognized	2,065	41
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Fair Value	2,065	41
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments	385	41
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Cash Collateral	0	0
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Securities Collateral	1,638	0
Net Amount	42	0
Securities loaned
Gross Amounts Recognized	36	17
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts Presented in the Consolidated Balance Sheets	36	17
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments	0	0
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Cash Collateral	36	17
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Securities Collateral	0	0
Net Amount	0	0
Repurchase agreements
Gross Amounts Recognized	1,012	1,572
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts Presented in the Consolidated Balance Sheets	1,012	1,572
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments	0	0
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Cash Collateral	0	0
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Securities Collateral	1,012	1,572
Net Amount	0	0
Total financial liabilities
Gross Amounts Recognized	3,113	1,630
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts Presented in the Consolidated Balance Sheets	3,113	1,630
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments	385	41
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Cash Collateral	36	17
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Securities Collateral	2,650	1,572
Net Amount	$ 42	$ 0

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value and Carrying Value of Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets
Debt securities	$ 44,762	$ 53,375
Equity securities	393	279
Mortgage loans	10,967	11,482
Policy loans	4,377	4,475
Freestanding derivative instruments	1,270	1,417
Federal Home Loan Bank of Indianapolis ("FHLBI") capital stock	146	125
Cash and cash equivalents	4,298	2,623
GMIB reinsurance recoverable	29,641	33,126
Separate account assets	195,906	248,949
Liabilities
Annuity reserves	602	627
Reserves for guaranteed investment contracts	1,128	894
Trust instruments supported by funding agreements	5,887	5,986
FHLB funding agreements	2,004	1,950
Funds withheld payable under reinsurance treaties	22,957	29,007
Long-term debt	2,635	2,649
Securities lending payable	36	17
Freestanding derivative instruments	2,065	41
Notes issued by consolidated variable interest entities, at fair value under fair value option (See Note 4)	1,732	1,404
Repurchase agreements	1,012	1,572
Separate account liabilities	195,906	248,949
Carrying Value
Assets
Debt securities	44,762	53,375
Equity securities	393	279
Mortgage loans	11,549	11,482
Limited partnerships	3,212	2,831
Policy loans	4,377	4,475
Freestanding derivative instruments	1,270	1,417
Federal Home Loan Bank of Indianapolis ("FHLBI") capital stock	146	125
Cash and cash equivalents	4,298	2,623
GMIB reinsurance recoverable	170	262
Separate account assets	195,906	248,949
Liabilities
Annuity reserves	35,203	40,389
Reserves for guaranteed investment contracts	1,128	894
Trust instruments supported by funding agreements	5,887	5,986
FHLB funding agreements	2,004	1,950
Funds withheld payable under reinsurance treaties	22,957	29,007
Long-term debt	2,635	2,649
Securities lending payable	36	17
Freestanding derivative instruments	2,065	41
Notes issued by consolidated variable interest entities, at fair value under fair value option (See Note 4)	1,732	1,404
Repurchase agreements	1,012	1,572
Separate account liabilities	195,906	248,949
Fair Value
Assets
Debt securities	44,762	53,375
Equity securities	393	279
Mortgage loans	10,841	11,910
Limited partnerships	3,212	2,831
Policy loans	4,377	4,475
Freestanding derivative instruments	1,270	1,417
Federal Home Loan Bank of Indianapolis ("FHLBI") capital stock	146	125
Cash and cash equivalents	4,298	2,623
GMIB reinsurance recoverable	170	262
Separate account assets	195,906	248,949
Liabilities
Annuity reserves	30,223	48,711
Reserves for guaranteed investment contracts	1,099	923
Trust instruments supported by funding agreements	5,760	6,175
FHLB funding agreements	2,104	1,938
Funds withheld payable under reinsurance treaties	22,957	29,007
Long-term debt	2,344	2,745
Securities lending payable	36	17
Freestanding derivative instruments	2,065	41
Notes issued by consolidated variable interest entities, at fair value under fair value option (See Note 4)	1,732	1,404
Repurchase agreements	1,012	1,572
Separate account liabilities	$ 195,906	$ 248,949

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value option, debt securities	$ 2,173,000,000	$ 1,711,000,000
Notes issued by consolidated variable interest entities, at fair value under fair value option (See Note 4)	1,732,000,000	1,404,000,000
Debt securities	44,762,000,000	53,375,000,000
Transfers from Level 3 to Level 2	5,000,000	59,000,000
Transfers from Level 2 to Level 3	53,000,000	27,000,000
Transfers in and/or (out of ) Level 3	$ 9,000,000	0
FHLBI capital stock, stock price (in usd per share)	$ 100
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Notes issued by consolidated variable interest entities, at fair value under fair value option (See Note 4)	$ 0	0
Unobservable Inputs | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	9,000,000	2,000,000
Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Notes issued by consolidated variable interest entities, at fair value under fair value option (See Note 4)	1,732,000,000	1,404,000,000
Debt securities	44,762,000,000	53,375,000,000
Policy loans
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value option, assets carrying amount	4,160,000,000	3,632,000,000
Variable Interest Entity, Primary Beneficiary
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value option, debt securities	2,014,000,000	1,546,000,000
Notes issued by consolidated variable interest entities, at fair value under fair value option (See Note 4)	$ 1,732,000,000	$ 1,404,000,000

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Value Option (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value	$ 582	$ 0
Aggregate contractual principal	10,967	$ 11,482
Mortgage loans, at fair value under the fair value option
Fair Value, Option, Quantitative Disclosures [Line Items]
Aggregate contractual principal	$ 591

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Carried at Fair Value by Hierarchy (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets
Debt securities	$ 44,762	$ 53,375
Equity securities	393	279
Mortgage loans, at fair value under fair value option	582	0
Limited partnerships	440	413
Policy loans	3,419	3,467
Freestanding derivative instruments	1,270	1,417
Cash and cash equivalents	4,298	2,623
GMIB reinsurance recoverable	170	262
Separate account assets	195,906	248,949
Total	251,240	310,785
Liabilities
Embedded derivative (assets) liabilities	(1,018)	4,071
Funds withheld payable under reinsurance treaties	424	3,759
Freestanding derivative instruments	2,065	41
Notes issued by consolidated variable interest entities, at fair value under fair value option (See Note 4)	1,732	1,404
Total	3,203	9,275
Limited partnership investments measured at NAV	2,772	2,418
U.S. government securities
Assets
Debt securities	5,185	4,321
Other government securities
Assets
Debt securities	1,467	1,619
Public utilities
Assets
Debt securities	5,225	6,715
Corporate securities
Assets
Debt securities	25,146	31,146
Residential mortgage-backed
Assets
Debt securities	464	569
Commercial mortgage-backed
Assets
Debt securities	1,638	2,038
Other asset-backed securities
Assets
Debt securities	5,637	6,967
Derivatives related to funds withheld under reinsurance treaties
Assets
Freestanding derivative instruments	3,255	43
Liabilities
Freestanding derivative instruments	19	126
Funds withheld embedded derivative | Derivatives related to funds withheld under reinsurance treaties
Assets
Freestanding derivative instruments	3,158	0
Liabilities
Freestanding derivative instruments	0	120
Level 1
Assets
Equity securities	165	111
Mortgage loans, at fair value under fair value option	0
Limited partnerships	0	0
Policy loans	0	0
Freestanding derivative instruments	0	0
Cash and cash equivalents	4,298	2,623
GMIB reinsurance recoverable	0	0
Separate account assets	0	0
Total	9,647	7,055
Liabilities
Embedded derivative (assets) liabilities	0	0
Funds withheld payable under reinsurance treaties	0	0
Freestanding derivative instruments	0	0
Notes issued by consolidated variable interest entities, at fair value under fair value option (See Note 4)	0	0
Total	0	0
Level 1 | U.S. government securities
Assets
Debt securities	5,184	4,321
Level 1 | Other government securities
Assets
Debt securities	0	0
Level 1 | Public utilities
Assets
Debt securities	0	0
Level 1 | Corporate securities
Assets
Debt securities	0	0
Level 1 | Residential mortgage-backed
Assets
Debt securities	0	0
Level 1 | Commercial mortgage-backed
Assets
Debt securities	0	0
Level 1 | Other asset-backed securities
Assets
Debt securities	0	0
Level 2
Assets
Equity securities	106	56
Mortgage loans, at fair value under fair value option	0
Limited partnerships	0	17
Policy loans	0	0
Freestanding derivative instruments	1,270	1,417
Cash and cash equivalents	0	0
GMIB reinsurance recoverable	0	0
Separate account assets	195,906	248,949
Total	236,804	299,484
Liabilities
Embedded derivative (assets) liabilities	1,136	1,445
Funds withheld payable under reinsurance treaties	0	0
Freestanding derivative instruments	2,065	41
Notes issued by consolidated variable interest entities, at fair value under fair value option (See Note 4)	1,732	1,404
Total	4,933	2,890
Level 2 | U.S. government securities
Assets
Debt securities	1	0
Level 2 | Other government securities
Assets
Debt securities	1,467	1,619
Level 2 | Public utilities
Assets
Debt securities	5,225	6,715
Level 2 | Corporate securities
Assets
Debt securities	25,090	31,137
Level 2 | Residential mortgage-backed
Assets
Debt securities	464	569
Level 2 | Commercial mortgage-backed
Assets
Debt securities	1,638	2,038
Level 2 | Other asset-backed securities
Assets
Debt securities	5,637	6,967
Level 3
Assets
Equity securities	122	112
Mortgage loans, at fair value under fair value option	582
Limited partnerships	440	396
Policy loans	3,419	3,467
Freestanding derivative instruments	0	0
Cash and cash equivalents	0	0
GMIB reinsurance recoverable	170	262
Separate account assets	0	0
Total	4,789	4,246
Liabilities
Embedded derivative (assets) liabilities	(2,154)	2,626
Funds withheld payable under reinsurance treaties	424	3,759
Freestanding derivative instruments	0	0
Notes issued by consolidated variable interest entities, at fair value under fair value option (See Note 4)	0	0
Total	(1,730)	6,385
Level 3 | U.S. government securities
Assets
Debt securities	0	0
Level 3 | Other government securities
Assets
Debt securities	0	0
Level 3 | Public utilities
Assets
Debt securities	0	0
Level 3 | Corporate securities
Assets
Debt securities	56	9
Level 3 | Residential mortgage-backed
Assets
Debt securities	0	0
Level 3 | Commercial mortgage-backed
Assets
Debt securities	0	0
Level 3 | Other asset-backed securities
Assets
Debt securities	0	0
Level 3 | GMWB Derivative
Liabilities
Embedded derivative (assets) liabilities	(2,154)
Level 3 | Registered index linked annuity embedded derivatives
Liabilities
Embedded derivative (assets) liabilities	205	6
Level 3 | Fixed index annuity embedded derivatives
Liabilities
Embedded derivative (assets) liabilities	931	$ 1,439
Level 3 | RILA Embedded Derivative
Liabilities
Embedded derivative (assets) liabilities	$ 205

Fair Value Measurements - Balan

Fair Value Measurements - Balances of Level 3 Assets and Liabilities Measured at Fair Value with Corresponding Price Sources (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets
Debt securities	$ 44,762	$ 53,375
Equity securities	393	279
Mortgage loans, at fair value under fair value option	582	0
Limited partnerships	440	413
Policy loans	4,377	4,475
GMIB reinsurance recoverable	29,641	33,126
Total	251,240	310,785
Liabilities
Embedded derivative (assets) liabilities	(1,018)	4,071
Funds withheld payable under reinsurance treaties	22,957	29,007
Total	3,203	9,275
Freestanding derivative instruments	2,065	41
Corporate securities
Assets
Debt securities	25,146	31,146
Derivatives related to funds withheld under reinsurance treaties
Liabilities
Freestanding derivative instruments	19	126
Derivatives related to funds withheld under reinsurance treaties | Funds withheld embedded derivative
Liabilities
Freestanding derivative instruments	0	120
Level 3
Assets
Equity securities	122	112
Mortgage loans, at fair value under fair value option	582
Limited partnerships	440	396
Policy loans	3,419	3,467
GMIB reinsurance recoverable	170	262
Total	4,789	4,246
Liabilities
Embedded derivative (assets) liabilities	(2,154)	2,626
Funds withheld payable under reinsurance treaties	424	3,759
Total	(1,730)	6,385
Freestanding derivative instruments	0	0
Level 3 | Corporate securities
Assets
Debt securities	56	9
Level 3 | Internal
Assets
Equity securities	1	1
Mortgage loans, at fair value under fair value option	0
Limited partnerships	8	1
Policy loans	3,419	3,467
GMIB reinsurance recoverable	170	262
Total	3,598	3,731
Liabilities
Embedded derivative (assets) liabilities	(2,154)	2,626
Funds withheld payable under reinsurance treaties	424	3,759
Total	(1,730)	6,385
Level 3 | Internal | Corporate securities
Assets
Debt securities	0	0
Level 3 | External
Assets
Equity securities	121	111
Mortgage loans, at fair value under fair value option	582
Limited partnerships	432	395
Policy loans	0	0
GMIB reinsurance recoverable	0	0
Total	1,191	515
Liabilities
Embedded derivative (assets) liabilities	0	0
Funds withheld payable under reinsurance treaties	0	0
Total	0	0
Level 3 | External | Corporate securities
Assets
Debt securities	$ 56	$ 9

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative Information on Significant Internally-Priced Level 3 Assets and Liabilities (Details) $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMIB reinsurance recoverable	$ 29,641	$ 33,126
Embedded derivative (assets) liabilities	(1,018)	4,071
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMIB reinsurance recoverable	170	262
Embedded derivative (assets) liabilities	(2,154)	2,626
Level 3 | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMIB reinsurance recoverable	170	262
Embedded derivative (assets) liabilities	$ (2,154)	$ 2,626
Level 3 | Minimum | Discounted cash flow | Mortality
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input, percentage	0.0001	0.0001
Embedded derivative liabilities, measurement input, percentage	0.0004	0.0004
Level 3 | Minimum | Discounted cash flow | Lapse
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input, percentage	0.0297	0.0330
Embedded derivative liabilities, measurement input, percentage	0.0012	0.0020
Level 3 | Minimum | Discounted cash flow | Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input, percentage	0	0
Embedded derivative liabilities, measurement input, percentage	0.0135	0.0500
Level 3 | Minimum | Discounted cash flow | Withdrawal
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input, percentage	0.0475	0.0375
Embedded derivative liabilities, measurement input, percentage	0.5875	0.5800
Level 3 | Minimum | Discounted cash flow | Nonperformance risk
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input, percentage	0.0064	0.0011
Embedded derivative liabilities, measurement input, percentage	0.0064	0.0011
Level 3 | Minimum | Discounted cash flow | Long-term Equity Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input, percentage	0.1850	0.1850
Embedded derivative liabilities, measurement input, percentage	0.1850	0.1850
Level 3 | Maximum | Discounted cash flow | Mortality
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input, percentage	0.5125	0.2342
Embedded derivative liabilities, measurement input, percentage	0.4920	0.2145
Level 3 | Maximum | Discounted cash flow | Lapse
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input, percentage	0.0810	0.0900
Embedded derivative liabilities, measurement input, percentage	0.4128	0.3090
Level 3 | Maximum | Discounted cash flow | Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input, percentage	0.2000	0.2000
Embedded derivative liabilities, measurement input, percentage	1	1
Level 3 | Maximum | Discounted cash flow | Withdrawal
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input, percentage	0.0525	0.0450
Embedded derivative liabilities, measurement input, percentage	1	0.9700
Level 3 | Maximum | Discounted cash flow | Nonperformance risk
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input, percentage	0.0227	0.0150
Embedded derivative liabilities, measurement input, percentage	0.0227	0.0150
Level 3 | Maximum | Discounted cash flow | Long-term Equity Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input, percentage	0.2368	0.2206
Embedded derivative liabilities, measurement input, percentage	0.2368	0.2206

Fair Value Measurements - Level

Fair Value Measurements - Level 3 Rollforwards (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Purchases, sales, issuances and settlements	$ 554,000,000	$ 28,000,000
Transfers in and/or (out of ) Level 3	9,000,000	0
Embedded derivative assets (liabilities)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value	(2,626,000,000)	(5,592,000,000)
Total Realized/Unrealized Gains (Losses) Included in Net Income	4,780,000,000	2,966,000,000
Total Realized/Unrealized Gains (Losses) Included in Other Comprehensive Income	0	0
Purchases, sales, issuances and settlements	0	0
Transfers in and/or (out of ) Level 3	0	0
Fair Value	2,154,000,000	(2,626,000,000)
Funds withheld payable under reinsurance treaties
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value	(3,759,000,000)	(4,453,000,000)
Total Realized/Unrealized Gains (Losses) Included in Net Income	3,249,000,000	708,000,000
Total Realized/Unrealized Gains (Losses) Included in Other Comprehensive Income	0	0
Purchases, sales, issuances and settlements	86,000,000	(14,000,000)
Transfers in and/or (out of ) Level 3	0	0
Fair Value	(424,000,000)	(3,759,000,000)
Debt securities | Corporate securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value	9,000,000	29,000,000
Total Realized/Unrealized Gains (Losses) Included in Net Income	0	2,000,000
Total Realized/Unrealized Gains (Losses) Included in Other Comprehensive Income	(13,000,000)	0
Purchases, sales, issuances and settlements	12,000,000	10,000,000
Transfers in and/or (out of ) Level 3	48,000,000	(32,000,000)
Fair Value	56,000,000	9,000,000
Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value	112,000,000	104,000,000
Total Realized/Unrealized Gains (Losses) Included in Net Income	7,000,000	14,000,000
Total Realized/Unrealized Gains (Losses) Included in Other Comprehensive Income	0	0
Purchases, sales, issuances and settlements	3,000,000	(6,000,000)
Transfers in and/or (out of ) Level 3	0	0
Fair Value	122,000,000	112,000,000
Mortgage loans, at fair value under the fair value option
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value	0
Total Realized/Unrealized Gains (Losses) Included in Net Income	(7,000,000)
Total Realized/Unrealized Gains (Losses) Included in Other Comprehensive Income	0
Purchases, sales, issuances and settlements	589,000,000
Transfers in and/or (out of ) Level 3	0
Fair Value	582,000,000	0
Limited partnerships
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value	396,000,000	313,000,000
Total Realized/Unrealized Gains (Losses) Included in Net Income	8,000,000	74,000,000
Total Realized/Unrealized Gains (Losses) Included in Other Comprehensive Income	0	0
Purchases, sales, issuances and settlements	27,000,000	9,000,000
Transfers in and/or (out of ) Level 3	9,000,000	0
Fair Value	440,000,000	396,000,000
GMIB reinsurance recoverable
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value	262,000,000	340,000,000
Total Realized/Unrealized Gains (Losses) Included in Net Income	(92,000,000)	(78,000,000)
Total Realized/Unrealized Gains (Losses) Included in Other Comprehensive Income	0	0
Purchases, sales, issuances and settlements	0	0
Transfers in and/or (out of ) Level 3	0	0
Fair Value	170,000,000	262,000,000
Policy loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value	3,467,000,000	3,454,000,000
Total Realized/Unrealized Gains (Losses) Included in Net Income	29,000,000	(2,000,000)
Total Realized/Unrealized Gains (Losses) Included in Other Comprehensive Income	0	0
Purchases, sales, issuances and settlements	(77,000,000)	15,000,000
Transfers in and/or (out of ) Level 3	0	0
Fair Value	$ 3,419,000,000	$ 3,467,000,000

Fair Value Measurements - Purch

Fair Value Measurements - Purchases, Sales, Issuances and Settlements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases, (Sales), Issuances, (Settlements) [Abstract]
Purchases	$ 699	$ 68
Sales	(68)	(55)
Issuances	215	261
Settlements	(292)	(246)
Total	554	28
Funds withheld payable under reinsurance treaties
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases, (Sales), Issuances, (Settlements) [Abstract]
Purchases	0	0
Sales	0	0
Issuances	(222)	(468)
Settlements	308	454
Total	86	(14)
Debt securities | Corporate securities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases, (Sales), Issuances, (Settlements) [Abstract]
Purchases	15	11
Sales	(3)	(1)
Issuances	0	0
Settlements	0	0
Total	12	10
Equity securities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases, (Sales), Issuances, (Settlements) [Abstract]
Purchases	7	2
Sales	(4)	(8)
Issuances	0	0
Settlements	0	0
Total	3	(6)
Mortgage loans, at fair value under the fair value option
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases, (Sales), Issuances, (Settlements) [Abstract]
Purchases	632
Sales	(43)
Issuances	0
Settlements	0
Total	589
Limited partnerships
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases, (Sales), Issuances, (Settlements) [Abstract]
Purchases	45	55
Sales	(18)	(46)
Issuances	0	0
Settlements	0	0
Total	27	9
Policy loans
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases, (Sales), Issuances, (Settlements) [Abstract]
Purchases	0	0
Sales	0	0
Issuances	215	261
Settlements	(292)	(246)
Total	$ (77)	$ 15

Fair Value Measurements - Gains

Fair Value Measurements - Gains (Losses) by Location (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Embedded derivatives
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Included in Net Income	$ 4,780	$ 2,966
Included in OCI	0	0
Funds withheld payable under reinsurance treaties
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Included in Net Income	3,249	708
Included in OCI	0	0
Debt securities | Corporate securities
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Included in Net Income	0	2
Included in OCI	(13)	0
Equity securities
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Included in Net Income	21	14
Included in OCI	0	0
Mortgage loans
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Included in Net Income	(7)	0
Included in OCI	0	0
Limited partnerships
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Included in Net Income	8	74
Included in OCI	0	0
GMIB reinsurance recoverable
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Included in Net Income	(92)	(78)
Included in OCI	0	0
Policy loans
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Included in Net Income	29	(2)
Included in OCI	$ 0	$ 0

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments Not Reported at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets
Mortgage loans	$ 10,967	$ 11,482
Policy loans	958	1,008
FHLBI capital stock	146	125
Liabilities
Annuity reserves	36,221	36,318
Reserves for guaranteed investment contracts	1,128	894
Trust instruments supported by funding agreements	5,887	5,986
FHLB funding agreements	2,004	1,950
Funds withheld payable under reinsurance treaties	22,533	24,533
Long-term debt	2,635	2,649
Securities lending payable	36	17
Repurchase agreements	1,012	1,572
Separate account liabilities	195,906	248,949
Limited partnership investments measured at NAV		715
Fair Value
Assets
Mortgage loans	10,259	11,910
Policy loans	958	1,008
FHLBI capital stock	146	125
Liabilities
Annuity reserves	31,241	44,640
Reserves for guaranteed investment contracts	1,099	923
Trust instruments supported by funding agreements	5,760	6,175
FHLB funding agreements	2,104	1,938
Funds withheld payable under reinsurance treaties	22,533	24,533
Long-term debt	2,344	2,745
Securities lending payable	36	17
Repurchase agreements	1,012	1,572
Separate account liabilities	195,906	248,949
Fair Value | Level 1
Assets
Mortgage loans	0	0
Policy loans	0	0
FHLBI capital stock	146	125
Liabilities
Annuity reserves	0	0
Reserves for guaranteed investment contracts	0	0
Trust instruments supported by funding agreements	0	0
FHLB funding agreements	0	0
Funds withheld payable under reinsurance treaties	0	537
Long-term debt	0	0
Securities lending payable	0	0
Repurchase agreements	0	0
Separate account liabilities	0	0
Fair Value | Level 2
Assets
Mortgage loans	0	0
Policy loans	0	0
FHLBI capital stock	0	0
Liabilities
Annuity reserves	0	0
Reserves for guaranteed investment contracts	0	0
Trust instruments supported by funding agreements	0	0
FHLB funding agreements	0	0
Funds withheld payable under reinsurance treaties	0	19,127
Long-term debt	2,344	2,745
Securities lending payable	36	17
Repurchase agreements	1,012	1,572
Separate account liabilities	195,906	248,949
Fair Value | Level 3
Assets
Mortgage loans	10,259	11,910
Policy loans	958	1,008
FHLBI capital stock	0	0
Liabilities
Annuity reserves	31,241	44,640
Reserves for guaranteed investment contracts	1,099	923
Trust instruments supported by funding agreements	5,760	6,175
FHLB funding agreements	2,104	1,938
Funds withheld payable under reinsurance treaties	22,533	4,869
Long-term debt	0	0
Securities lending payable	0	0
Repurchase agreements	0	0
Separate account liabilities	$ 0	$ 0

Deferred Acquisition Costs an_3

Deferred Acquisition Costs and Deferred Sales Inducements - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Insurance [Abstract]
Increased (decrease) in deferred acquisition costs	$ 229	$ (63)
Short-term investment, expected return over eight years	7.15%
Short-term investment, expected return, cap	15%	15%
Short-term investment, expected return, floor	0%	0%
Short-term investment, expected return over five years	7.15%
Write-off of deferred acquisition costs			$ 626
Write-off of deferred sales inducement costs			$ 138

Deferred Acquisition Costs an_4

Deferred Acquisition Costs and Deferred Sales Inducements - Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of period	$ 14,249	$ 13,897	$ 12,337
Deferrals of acquisition costs	624	790	738
Amortization	(1,743)	(520)	533
Unrealized investment (gains) losses	292	82	289
Balance, end of period	$ 13,422	$ 14,249	$ 13,897

Deferred Acquisition Costs an_5

Deferred Acquisition Costs and Deferred Sales Inducements - Deferred Sales Inducements Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Movement in Deferred Sales Inducements [Roll Forward]
Balance, beginning of year	$ 77	$ 77	$ 140
Deferrals of sales inducements	4	2	1
Amortization	(4)	(3)	(152)
Unrealized investment losses (gains)	2	1	88
Balance, end of year	$ 79	$ 77	$ 77

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) $ in Millions			12 Months Ended
	Jun. 18, 2020 USD ($)	Jun. 01, 2020 USD ($)	Dec. 31, 2022 USD ($) treaty	Dec. 31, 2020 USD ($)	Dec. 31, 2021 USD ($)
Effects of Reinsurance [Line Items]
Reinsurance recoverable, allowance for credit losses			$ 15		$ 12
Reinsurance agreement, ceding commission				$ 1,202
Athene | Letter of credit
Effects of Reinsurance [Line Items]
Maximum borrowing capacity		$ 1,200
Trust account assets			212
Athene
Effects of Reinsurance [Line Items]
Reinsurance quota share basis	100%
Reinsurance agreement, ceding commission	$ 1,200
Reserves established		$ 25,600
Assets held as collateral			$ 19,400		$ 25,400
SRZ
Effects of Reinsurance [Line Items]
Number of retro treaties | treaty			3
Coinsurance percentage			100%

Reinsurance - Effects of Coinsu

Reinsurance - Effects of Coinsurance Agreement (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Insurance [Abstract]
Contractual ceding commission	$ 1,202
Cost of reinsurance write-off	(2,520)
DAC and DSI write-off	(764)
Total pretax loss on Athene Reinsurance Transaction	(2,082)
Reinsurance assets written off	30,100
Reinsurance ceded reserves	$ 27,600

Reinsurance - Assets and Liabil

Reinsurance - Assets and Liabilities Held in Support of Reserves (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets
Total assets, net	$ 23,226	$ 28,892
Liabilities
Total liabilities	22,957	29,007
Derivatives related to funds withheld under reinsurance treaties
Liabilities
Net fair value, derivative asset (liability)	3,236	(83)
Funds withheld embedded derivative | Derivatives related to funds withheld under reinsurance treaties
Liabilities
Net fair value, derivative asset (liability)	3,158	(120)
Debt securities, available-for-sale
Assets
Total assets, net	13,622	19,094
Debt securities, at fair value under the fair value option
Assets
Total assets, net	159	164
Equity securities
Assets
Total assets, net	77	116
Mortgage loans
Assets
Total assets, net	4,127	4,739
Mortgage loans, at fair value under the fair value option
Assets
Total assets, net	582	0
Policy loans
Assets
Total assets, net	3,435	3,483
Freestanding derivative instruments, net
Assets
Total assets, net	78	37
Limited partnerships
Assets
Total assets, net	793	715
Cash and cash equivalents
Assets
Total assets, net	260	438
Accrued investment income
Assets
Total assets, net	166	162
Other assets and liabilities, net
Assets
Total assets, net	(73)	(56)
Funds held under reinsurance treaties
Liabilities
Total liabilities	$ 22,957	$ 29,007

Reinsurance - Sources of Income

Reinsurance - Sources of Income Related to Funds Withheld Under Reinsurance Treaties (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Effects of Reinsurance [Line Items]
Other investment expenses on funds withheld assets	$ (100,000,000)	$ (126,000,000)	$ (138,000,000)
Net investment income	2,761,000,000	3,424,000,000	2,818,000,000
Policy loans
Effects of Reinsurance [Line Items]
Total investment income on funds withheld assets	1,339,000,000	1,295,000,000	858,000,000
Other investment expenses on funds withheld assets	(85,000,000)	(107,000,000)	(66,000,000)
Net investment income	1,254,000,000	1,188,000,000	792,000,000
Debt securities | Policy loans
Effects of Reinsurance [Line Items]
Total investment income on funds withheld assets	680,000,000	762,000,000	490,000,000
Equity securities | Policy loans
Effects of Reinsurance [Line Items]
Total investment income on funds withheld assets	(34,000,000)	5,000,000	2,000,000
Mortgage loans | Policy loans
Effects of Reinsurance [Line Items]
Total investment income on funds withheld assets	231,000,000	179,000,000	51,000,000
Policy loans | Policy loans
Effects of Reinsurance [Line Items]
Total investment income on funds withheld assets	312,000,000	314,000,000	315,000,000
Limited partnerships | Policy loans
Effects of Reinsurance [Line Items]
Total investment income on funds withheld assets	149,000,000	35,000,000	0
Other invested assets | Policy loans
Effects of Reinsurance [Line Items]
Total investment income on funds withheld assets	1,000,000	0	0
Debt securities, at fair value under the fair value option | Policy loans
Effects of Reinsurance [Line Items]
Investment Income, Operating, Net	(10,000,000)	(3,000,000)	2,000,000
Mortgage loans, at fair value under the fair value option | Policy loans
Effects of Reinsurance [Line Items]
Investment Income, Operating, Net	$ (7,000,000)	$ 0	$ 0

Reinsurance - Gains and Losses

Reinsurance - Gains and Losses on Funds Withheld Reinsurance Treaties (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Available-for-sale securities
Realized gains on sale	$ 41	$ 169	$ 778
Realized losses on sale	(429)	(88)	(196)
Credit loss expense on mortgage loans	(1)	85
Net gains (losses) on derivative instruments	2,024	(2,639)	(7,268)
Net gains (losses) on funds withheld payable under reinsurance treaties	2,186	(21)	440
Embedded derivative gain (loss)	5,395	(1,875)	(8,323)
Policy loans
Available-for-sale securities
Realized gains on sale	43	536	2,074
Realized losses on sale	(54)	(52)	(12)
Credit loss expense	(26)	(1)	0
Gross impairments			(2)
Credit loss expense on mortgage loans	15	23	(47)
Other	(62)	(29)	4
Net gains (losses) on non-derivative investments	(84)	477	2,017
Net gains (losses) on derivative instruments	93	58	(228)
Net gains (losses) on funds withheld payable under reinsurance treaties	2,177	(556)	(1,349)
Total net gains (losses) on derivatives and investments	2,186	(21)	440
Derivatives related to funds withheld under reinsurance treaties
Available-for-sale securities
Total net gains (losses) on derivatives and investments	2,186	(21)	440
Embedded derivative gain (loss)	3,371	764	(1,055)
Derivatives related to funds withheld under reinsurance treaties | Funds withheld embedded derivative
Available-for-sale securities
Embedded derivative gain (loss)	$ 3,278	$ 707	$ (827)

Reinsurance - Effects on Premiu

Reinsurance - Effects on Premiums and Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Premiums
Direct	$ 360	$ 407	$ 336
Assumed	40	42	47
Ceded	(268)	(301)	(196)
Total premium	132	148	187
Benefits
Direct	1,692	1,488	1,611
Assumed	866	876	749
Ceded	(922)	(863)	(666)
Change in reserves, net of reinsurance	654	(531)	(332)
Total benefits	$ 2,290	$ 970	$ 1,362

Reinsurance - Components of Rei

Reinsurance - Components of Reinsurance Recoverable (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Reserves:
Claims liability and other	$ 820	$ 863
Total	29,641	33,126
Guaranteed minimum income benefits
Reserves:
Reserves	170	262
Other annuity benefits
Reserves:
Reserves	22,487	25,625
Life
Reserves:
Reserves	5,641	5,829
Accident and health
Reserves:
Reserves	$ 523	$ 547

Reserves for Future Policy Be_3

Reserves for Future Policy Benefits and Claims Payable and Other Contract Holder Funds - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Net Amount at Risk by Product and Guarantee [Line Items]
Debt carrying value	$ 2,635,000,000	$ 2,649,000,000
Federal Home Loan Bank of Indianapolis ("FHLBI") capital stock	146,000,000	125,000,000
Funding agreements	2,100,000,000	2,000,000,000
Fair Value
Net Amount at Risk by Product and Guarantee [Line Items]
Federal Home Loan Bank of Indianapolis ("FHLBI") capital stock	146,000,000	125,000,000
Medium term notes | Global Medium Term Note
Net Amount at Risk by Product and Guarantee [Line Items]
Debt face amount	27,000,000,000
Debt carrying value	$ 5,900,000,000	$ 6,000,000,000
Interest-sensitive life
Net Amount at Risk by Product and Guarantee [Line Items]
Percentage of account values correspond to crediting rates that are at minimum guaranteed interest rates	80%	80%
Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
Percentage of account values correspond to crediting rates that are at minimum guaranteed interest rates	93%	94%
Minimum | Interest-sensitive life
Net Amount at Risk by Product and Guarantee [Line Items]
Minimum guaranteed rates	2.50%
Minimum | Fixed
Net Amount at Risk by Product and Guarantee [Line Items]
Minimum guaranteed rates	1%
Maximum | Interest-sensitive life
Net Amount at Risk by Product and Guarantee [Line Items]
Minimum guaranteed rates	6%
Maximum | Fixed
Net Amount at Risk by Product and Guarantee [Line Items]
Minimum guaranteed rates	5.50%
Average | Interest-sensitive life
Net Amount at Risk by Product and Guarantee [Line Items]
Minimum guaranteed rates	4.68%
Average | Fixed
Net Amount at Risk by Product and Guarantee [Line Items]
Minimum guaranteed rates	1.93%

Reserves for Future Policy Be_4

Reserves for Future Policy Benefits and Claims Payable and Other Contract Holder Funds - Reserves for Future Policy Benefits and Claims Payable Balances (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Insurance [Abstract]
Traditional life	$ 3,951	$ 4,262
Guaranteed benefits	1,779	5,477
Claims payable	1,033	1,050
Accident and health	1,164	1,204
Group payout annuities	4,586	4,895
Life contingent payouts	1,158	1,152
Other	602	627
Reserves for future policy benefits and claims payable	$ 14,273	$ 18,667

Reserves for Future Policy Be_5

Reserves for Future Policy Benefits and Claims Payable and Other Contract Holder Funds - Liabilities for Other Contract Holder Funds Balances (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Separate Account Investment [Line Items]
Separate account liability	$ 195,906	$ 248,949
Embedded derivative (assets) liabilities	(1,018)	4,071
Level 3
Fair Value, Separate Account Investment [Line Items]
Embedded derivative (assets) liabilities	(2,154)	2,626
Registered index linked annuity embedded derivatives | Level 3
Fair Value, Separate Account Investment [Line Items]
Embedded derivative (assets) liabilities	205	6
Other contract holder funds
Fair Value, Separate Account Investment [Line Items]
Separate account liability	58,195	58,726
Other contract holder funds | Interest-sensitive life
Fair Value, Separate Account Investment [Line Items]
Separate account liability	11,197	11,553
Other contract holder funds | Variable
Fair Value, Separate Account Investment [Line Items]
Separate account liability	10,578	9,751
Other contract holder funds | RILA
Fair Value, Separate Account Investment [Line Items]
Separate account liability	1,875	110
Other contract holder funds | Fixed
Fair Value, Separate Account Investment [Line Items]
Separate account liability	13,410	14,960
Other contract holder funds | Fixed Index
Fair Value, Separate Account Investment [Line Items]
Separate account liability	11,937	13,333
Embedded derivative (assets) liabilities	931	1,439
Other contract holder funds | GICs, funding agreements and FHLB advances
Fair Value, Separate Account Investment [Line Items]
Separate account liability	9,019	8,830
Other contract holder funds | Other
Fair Value, Separate Account Investment [Line Items]
Separate account liability	$ 179	$ 189

Reserves for Future Policy Be_6

Reserves for Future Policy Benefits and Claims Payable and Other Contract Holder Funds - Distribution of Fixed Rate Annuities' Account Values (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Effects of Reinsurance [Line Items]
Annuity account values	$ 13,179	$ 12,188
Ceded reinsurance	21,849	24,956
Total	35,028	37,144
1.0%
Effects of Reinsurance [Line Items]
Annuity account values	7,524	6,424
>1.0% - 2.0%
Effects of Reinsurance [Line Items]
Annuity account values	257	272
>2.0% - 3.0%
Effects of Reinsurance [Line Items]
Annuity account values	4,492	4,550
>3.0% - 4.0%
Effects of Reinsurance [Line Items]
Annuity account values	565	594
>4.0% - 5.0%
Effects of Reinsurance [Line Items]
Annuity account values	270	276
>5.0% - 5.5%
Effects of Reinsurance [Line Items]
Annuity account values	71	72
Fixed
Effects of Reinsurance [Line Items]
Annuity account values	2,339	2,268
Ceded reinsurance	10,476	12,086
Total	12,815	14,354
Fixed | 1.0%
Effects of Reinsurance [Line Items]
Annuity account values	333	156
Fixed | >1.0% - 2.0%
Effects of Reinsurance [Line Items]
Annuity account values	50	57
Fixed | >2.0% - 3.0%
Effects of Reinsurance [Line Items]
Annuity account values	1,050	1,113
Fixed | >3.0% - 4.0%
Effects of Reinsurance [Line Items]
Annuity account values	565	594
Fixed | >4.0% - 5.0%
Effects of Reinsurance [Line Items]
Annuity account values	270	276
Fixed | >5.0% - 5.5%
Effects of Reinsurance [Line Items]
Annuity account values	71	72
Fixed Index
Effects of Reinsurance [Line Items]
Annuity account values	564	463
Ceded reinsurance	11,373	12,870
Total	11,937	13,333
Fixed Index | 1.0%
Effects of Reinsurance [Line Items]
Annuity account values	399	279
Fixed Index | >1.0% - 2.0%
Effects of Reinsurance [Line Items]
Annuity account values	0	1
Fixed Index | >2.0% - 3.0%
Effects of Reinsurance [Line Items]
Annuity account values	165	183
Fixed Index | >3.0% - 4.0%
Effects of Reinsurance [Line Items]
Annuity account values	0	0
Fixed Index | >4.0% - 5.0%
Effects of Reinsurance [Line Items]
Annuity account values	0	0
Fixed Index | >5.0% - 5.5%
Effects of Reinsurance [Line Items]
Annuity account values	0	0
RILA
Effects of Reinsurance [Line Items]
Annuity account values	17	1
Ceded reinsurance	0	0
Total	17	1
RILA | 1.0%
Effects of Reinsurance [Line Items]
Annuity account values	17	1
RILA | >1.0% - 2.0%
Effects of Reinsurance [Line Items]
Annuity account values	0	0
RILA | >2.0% - 3.0%
Effects of Reinsurance [Line Items]
Annuity account values	0	0
RILA | >3.0% - 4.0%
Effects of Reinsurance [Line Items]
Annuity account values	0	0
RILA | >4.0% - 5.0%
Effects of Reinsurance [Line Items]
Annuity account values	0	0
RILA | >5.0% - 5.5%
Effects of Reinsurance [Line Items]
Annuity account values	0	0
Variable
Effects of Reinsurance [Line Items]
Annuity account values	10,259	9,456
Ceded reinsurance	0	0
Total	10,259	9,456
Variable | 1.0%
Effects of Reinsurance [Line Items]
Annuity account values	6,775	5,988
Variable | >1.0% - 2.0%
Effects of Reinsurance [Line Items]
Annuity account values	207	214
Variable | >2.0% - 3.0%
Effects of Reinsurance [Line Items]
Annuity account values	3,277	3,254
Variable | >3.0% - 4.0%
Effects of Reinsurance [Line Items]
Annuity account values	0	0
Variable | >4.0% - 5.0%
Effects of Reinsurance [Line Items]
Annuity account values	0	0
Variable | >5.0% - 5.5%
Effects of Reinsurance [Line Items]
Annuity account values	$ 0	$ 0

Reserves for Future Policy Be_7

Reserves for Future Policy Benefits and Claims Payable and Other Contract Holder Funds - Distribution of Interest Sensitive Life Business Account Values (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Effects of Reinsurance [Line Items]
Account Value Interest Sensitive Life Insurance	$ 7,050	$ 7,331
Retro Treaties Account Value	4,147	4,222
Total	11,197	11,553
>2.0% - 3.0%
Effects of Reinsurance [Line Items]
Account Value Interest Sensitive Life Insurance	241	252
>3.0% - 4.0%
Effects of Reinsurance [Line Items]
Account Value Interest Sensitive Life Insurance	2,632	2,736
>4.0% - 5.0%
Effects of Reinsurance [Line Items]
Account Value Interest Sensitive Life Insurance	2,294	2,381
Greater Than Five Percent To Six Percent [Member]
Effects of Reinsurance [Line Items]
Account Value Interest Sensitive Life Insurance	$ 1,883	$ 1,962

Certain Nontraditional Long-D_3

Certain Nontraditional Long-Duration Contracts and Variable Annuity Guarantees - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Separate account liabilities	$ 195,906	$ 248,949
Separate account assets	195,906	248,949
GMWB reserve liability	(2,154)	2,626
GMWB with guaranteed payments reserve liability	441	196
Life contingent payouts	1,158	1,152
Lifetime income rider liability	$ 58	$ 37
Discount Rate Period, 2020 And Later Issues | Measurement Input, Discount Rate
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Discount rate	7.15%	7.15%
Discount Rate Period, 2013 Through 2019 Issues | Measurement Input, Discount Rate
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Discount rate	7.40%	7.40%
Discount Rate Period, 2012 And Prior Issues | Measurement Input, Discount Rate
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Discount rate	8.40%	8.40%
GMDB
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Investment performance rate	7.15%	7.15%
GMDB | Minimum
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Mortality rate	40%	40%
Lapse rate	0.30%	0.30%
GMDB | Maximum
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Mortality rate	100%	100%
Lapse rate	27.90%	27.90%
GMIB
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Life contingent payouts	$ 142	$ 78
Insurance benefits | Measurement Input, Discount Rate
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Measurement input, percentage	30,000	0.055
Group variable annuity contract deposit
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Separate account assets	$ 284	$ 390

Certain Nontraditional Long-D_4

Certain Nontraditional Long-Duration Contracts and Variable Annuity Guarantees - Net Amount at Risk (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Net Amount at Risk by Product and Guarantee [Line Items]
Compound interest rate based on simple interest rate of 5%	4.10%
Compound interest rate based on simple interest rate of 8%	6%
Compound interest rate typical period	10 years
GMDB | Return of net deposits plus a minimum return
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, account value	$ 152,267	$ 194,060
Return of deposits plus a minimum return, net amount at risk	$ 8,812	$ 2,124
Return of deposits plus a minimum return, weighted average attained age	69 years 3 months 18 days	68 years 8 months 12 days
GMDB | Highest specified anniversary account value minus withdrawals post-anniversary
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, account value	$ 11,255	$ 14,806
Return of deposits plus a minimum return, net amount at risk	$ 2,406	$ 93
Return of deposits plus a minimum return, weighted average attained age	70 years 6 months	69 years 9 months 18 days
GMDB | Combination net deposits plus minimum return, highest specified anniversary account value minus withdrawals post-anniversary
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, account value	$ 7,677	$ 9,896
Return of deposits plus a minimum return, net amount at risk	$ 2,309	$ 522
Return of deposits plus a minimum return, weighted average attained age	72 years 3 months 18 days	71 years 10 months 24 days
GMDB | Minimum | Return of net deposits plus a minimum return
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, minimum return	0%	0%
GMDB | Minimum | Combination net deposits plus minimum return, highest specified anniversary account value minus withdrawals post-anniversary
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, minimum return	0%	0%
GMDB | Maximum | Return of net deposits plus a minimum return
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, minimum return	6%	6%
GMDB | Maximum | Combination net deposits plus minimum return, highest specified anniversary account value minus withdrawals post-anniversary
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, minimum return	6%	6%
GMWB - Premium only | Return of net deposits plus a minimum return
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, minimum return	0%	0%
Return of deposits plus a minimum return, account value	$ 2,123	$ 2,937
Return of deposits plus a minimum return, net amount at risk	58	7
GMWB | Return of net deposits plus a minimum return
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, account value	169	245
Return of deposits plus a minimum return, net amount at risk	14	8
GMWB | Highest specified anniversary account value minus withdrawals post-anniversary
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, account value	889	643
Return of deposits plus a minimum return, net amount at risk	127	44
GMWB | Combination net deposits plus minimum return, highest specified anniversary account value minus withdrawals post-anniversary
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, account value	142,361	181,457
Return of deposits plus a minimum return, net amount at risk	$ 41,148	$ 4,295
GMWB | Minimum | Return of net deposits plus a minimum return
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, minimum return	0%	0%
GMWB | Minimum | Combination net deposits plus minimum return, highest specified anniversary account value minus withdrawals post-anniversary
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, minimum return	0%	0%
GMWB | Maximum | Return of net deposits plus a minimum return
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, minimum return	5%	5%
GMWB | Maximum | Combination net deposits plus minimum return, highest specified anniversary account value minus withdrawals post-anniversary
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, minimum return	8%	8%
GMWB - Highest anniversary only | Highest specified anniversary account value minus withdrawals post-anniversary
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, account value	$ 2,992	$ 3,919
Return of deposits plus a minimum return, net amount at risk	559	33
GMIB | Combination net deposits plus minimum return, highest specified anniversary account value minus withdrawals post-anniversary
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, account value	1,209	1,662
Return of deposits plus a minimum return, net amount at risk	$ 752	$ 463
Return of deposits plus a minimum return, average period until expected annuitization	6 months	6 months
GMIB | Minimum | Combination net deposits plus minimum return, highest specified anniversary account value minus withdrawals post-anniversary
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, minimum return	0%	0%
GMIB | Maximum | Combination net deposits plus minimum return, highest specified anniversary account value minus withdrawals post-anniversary
Net Amount at Risk by Product and Guarantee [Line Items]
Return of deposits plus a minimum return, minimum return	6%	6%

Certain Nontraditional Long-D_5

Certain Nontraditional Long-Duration Contracts and Variable Annuity Guarantees - Separate Account Balances (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Separate Account Investment [Line Items]
Total	$ 171,841	$ 219,324
Equity
Fair Value, Separate Account Investment [Line Items]
Total	118,858	154,368
Bond
Fair Value, Separate Account Investment [Line Items]
Total	16,047	20,207
Balanced
Fair Value, Separate Account Investment [Line Items]
Total	34,693	43,185
Money market
Fair Value, Separate Account Investment [Line Items]
Total	$ 2,243	$ 1,564

Certain Nontraditional Long-D_6

Certain Nontraditional Long-Duration Contracts and Variable Annuity Guarantees - GMDB Liabilities in the General Account (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Beginning balance	$ 1,370	$ 1,418
Incurred guaranteed benefits	1,058	55
Paid guaranteed benefits	(219)	(103)
Ending balance	$ 2,209	$ 1,370

Certain Nontraditional Long-D_7

Certain Nontraditional Long-Duration Contracts and Variable Annuity Guarantees - Insurance and Annuitization Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net Amount at Risk by Product and Guarantee [Line Items]
Liability	$ 2,209	$ 1,370	$ 1,418
Insurance benefits
Net Amount at Risk by Product and Guarantee [Line Items]
Liability	950	943
Net amount at risk	$ 17,427	$ 18,506
Weighted average attained age	64 years 7 months 6 days	64 years
Account balance adjustments
Net Amount at Risk by Product and Guarantee [Line Items]
Liability	$ 146	$ 141

Long-Term Debt - Carrying Value

Long-Term Debt - Carrying Values (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Total long-term debt	$ 2,635	$ 2,649
Term loan due 2023 | Term loan
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Total long-term debt	0	751
Senior Notes | Senior Notes due 2023
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Total long-term debt	598	596
Senior Notes | Senior Notes due 2027
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Total long-term debt	397	0
Senior Notes | Senior Notes due 2031
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Total long-term debt	493	495
Senior Notes | Senior Notes due 2032
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Total long-term debt	347	0
Senior Notes | Senior Notes due 2051
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Total long-term debt	488	490
Surplus notes
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Total long-term debt	250	250
FHLBI bank loans
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Total long-term debt	$ 62	$ 67

Long-Term Debt - Maturity (Deta

Long-Term Debt - Maturity (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
2023	$ 598
2024	0
2025	0
2026	0
2027 and thereafter	2,037
Total	$ 2,635	$ 2,649

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($)

12 Months Ended

Jun. 08, 2022

Nov. 23, 2021

Sep. 10, 2021

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2015

Dec. 31, 2014

Feb. 24, 2023

Feb. 22, 2023

Sep. 30, 2022

Feb. 22, 2021

Mar. 15, 1997

Schedule of Long Term and Short Term Debt Instruments [Line Items]

Aggregate principal amount borrowed

$ 2,400,000,000

Collateral carrying value

$ 96,000,000

$ 95,000,000

FHLBI bank loans

Schedule of Long Term and Short Term Debt Instruments [Line Items]

Loans received

$ 50,000,000

$ 50,000,000

Weighted average interest rate

1.70%

0.10%

Short-term debt

$ 62,000,000

$ 67,000,000

Revolving credit facility

Schedule of Long Term and Short Term Debt Instruments [Line Items]

Maximum borrowing capacity

$ 1,000,000,000

Term loan due 2023 | Term loan

Schedule of Long Term and Short Term Debt Instruments [Line Items]

Repayment of debt

$ 750,000,000

Maximum borrowing capacity

1,000,000,000

Aggregate principal amount borrowed

750,000,000

Term loan due 2022 | Term loan

Schedule of Long Term and Short Term Debt Instruments [Line Items]

Repayment of debt

$ 1,600,000,000

Maximum borrowing capacity

$ 1,700,000,000

Aggregate principal amount borrowed

$ 1,600,000,000

Senior Notes

Schedule of Long Term and Short Term Debt Instruments [Line Items]

Debt face amount

750,000,000

1,600,000,000

Senior Notes | Senior Notes due 2027

Schedule of Long Term and Short Term Debt Instruments [Line Items]

Debt face amount

$ 400,000,000

Stated interest rate

5.17%

Senior Notes | Senior Notes due 2032

Schedule of Long Term and Short Term Debt Instruments [Line Items]

Debt face amount

$ 350,000,000

Stated interest rate

5.67%

Senior Notes | Senior Notes due 2023

Schedule of Long Term and Short Term Debt Instruments [Line Items]

Debt face amount

$ 600,000,000

Stated interest rate

1.125%

Senior Notes | Senior Notes due 2031

Schedule of Long Term and Short Term Debt Instruments [Line Items]

Debt face amount

$ 500,000,000

Stated interest rate

3.125%

Senior Notes | Senior Notes due 2051

Schedule of Long Term and Short Term Debt Instruments [Line Items]

Debt face amount

$ 500,000,000

Stated interest rate

4%

Line of Credit | Revolving credit facility

Schedule of Long Term and Short Term Debt Instruments [Line Items]

Consolidated net worth percentage

70%

Line of Credit | Revolving credit facility | Subsequent Event

Schedule of Long Term and Short Term Debt Instruments [Line Items]

Maximum borrowing capacity

$ 1,000,000,000

Accordion feature, higher borrowing capacity option

500,000,000

Consolidated net worth percentage

70%

Net worth percentage, increase adjustment from equity issuances

50%

Ratio of indebtedness to net capital

0.35

Line of Credit | Letter of credit | Subsequent Event

Schedule of Long Term and Short Term Debt Instruments [Line Items]

Maximum borrowing capacity

$ 500,000,000

Surplus notes | Surplus notes due 2027

Schedule of Long Term and Short Term Debt Instruments [Line Items]

Debt face amount

$ 250,000,000

Stated interest rate

8.20%

Interest expense

$ 20,000,000

$ 20,000,000

$ 21,000,000

Federal Home Loan Bank Advanc_2

Federal Home Loan Bank Advances (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Federal home loan bank advances	$ 0	$ 0

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Contingency [Line Items]
Income tax expense (benefit)	$ (235,000,000)	$ 559,000,000	$ 717,000,000	$ 330,000,000	$ 87,000,000	$ (16,000,000)	$ (54,000,000)	$ 586,000,000	$ 1,371,000,000	$ 602,000,000	$ (854,000,000)
Income taxes paid (refunded)									(5,000,000)	(403,000,000)	4,000,000
Income taxes paid (refunded), including interest									(314,000,000)
Income taxes paid (refunded), interest									(24,000,000)
Income taxes paid (refunded), refunds from overpayment									(73,000,000)
Increase (decrease) in valuation allowance									4,000,000	2,000,000
Decrease resulting from tax reserves position										(2,000,000)
Interest expense accrued	0				0				0	0
Deferred Tax Assets, Life Insurance Group
Income Tax Contingency [Line Items]
Deferred tax assets, amount to be realized	$ 385,000,000				$ 954,000,000				385,000,000	954,000,000
Increase (decrease) in valuation allowance									$ 906,000,000	$ 0
CARES Act
Income Tax Contingency [Line Items]
Income tax expense (benefit)											$ (16,000,000)

Income Taxes - Components of In

Income Taxes - Components of Income Tax (Benefit) Expense (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current tax expense (benefit)
Federal									$ (43)	$ (71)	$ (80)
State and local									1	(2)	2
Total current tax expense (benefit)									(42)	(73)	(78)
Deferred tax expense (benefit)
Federal									1,358	653	(703)
State and local									55	22	(73)
Total deferred tax expense (benefit)									1,413	675	(776)
Total income taxes	$ (235)	$ 559	$ 717	$ 330	$ 87	$ (16)	$ (54)	$ 586	$ 1,371	$ 602	$ (854)

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income taxes at statutory rate									$ 1,493	$ 795	$ (522)
State income taxes									44	15	(56)
Dividends received deduction									(142)	(146)	(158)
Valuation allowance									2	0	1
U.S. federal tax reform impact									0	0	(16)
Foreign and other tax credits									(24)	(46)	(61)
Prior year deferred tax benefit									0	0	(53)
Other									(2)	(16)	11
Total income taxes	$ (235)	$ 559	$ 717	$ 330	$ 87	$ (16)	$ (54)	$ 586	$ 1,371	$ 602	$ (854)
Effective tax rate									19.30%	15.90%	34.30%
State income taxes, benefit for true-up of prior periods											$ 33

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Gross deferred tax asset
Policy reserves and other insurance items	$ 1,837	$ 2,695
Employee benefits	165	181
Derivative investments	789	1,128
Net unrealized losses	1,297	0
Net operating loss carryforward	587	306
Other	75	15
Total gross deferred tax asset	4,750	4,325
Valuation allowance	(910)	(2)
Gross deferred tax asset, net of valuation allowance	3,840	4,323
Gross deferred tax liability
Deferred acquisition costs and sales inducements	(2,644)	(2,873)
Other investment items	(781)	(23)
Net unrealized gains	0	(453)
Other	(30)	(20)
Total gross deferred tax liability	(3,455)	(3,369)
Net deferred tax asset	$ 385	$ 954

Income Taxes - Carryforwards (D

Income Taxes - Carryforwards (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Section 382 net operating loss from previous acquisition	$ 137	$ 137
Alternative Minimum Credit	6	6
Total	3,105	1,584
Section 382 net operating loss from previous acquisition, annual limitation	21
Ordinary loss carryforwards, subject to expiration	$ 127
Tax credit carryforward period	10 years
Ordinary loss carryforwards, not subject to expiration	$ 223
Minimum
Operating Loss Carryforwards [Line Items]
Tax credit carryforward period	0 years
Maximum
Operating Loss Carryforwards [Line Items]
Tax credit carryforward period	20 years
Federal
Operating Loss Carryforwards [Line Items]
Ordinary loss carryforwards	$ 2,568	1,280
State
Operating Loss Carryforwards [Line Items]
Ordinary loss carryforwards	350	161
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Alternative Minimum Credit	$ 44	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Unfunded partnership investment commitment
Other Commitments [Line Items]
Unfunded commitments	$ 1,402	$ 300
Unfunded loan and debt securities commitments
Other Commitments [Line Items]
Unfunded commitments	$ 1,169

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease net ROU assets	$ 26	$ 31
Present value of lease liabilities	$ 36	$ 43
Operating lease, right-of-use asset, statement of financial position [extensible enumeration]	Other assets	Other assets
Operating lease, liability, statement of financial position [extensible enumeration]	Other liabilities	Other liabilities
Net lease expense	$ 46	$ 33	$ 28

Leases - Operating Lease Costs

Leases - Operating Lease Costs and Other Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lease Cost:
Operating leases	$ 7	$ 8	$ 12
Variable lease costs	4	4	5
Sublease income	(3)	(4)	(5)
Net Lease Cost	8	8	12
Other Information:
Cash paid for amounts included in the measurement of operating lease liability	$ 9	$ 11	$ 12
Weighted average lease term	6 years	7 years	7 years
Weighted average discount rate	3.90%	3.80%	3.80%

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
2023	$ 9
2024	8
2025	6
2026	6
2027	4
Thereafter	7
Total	40
Less: interest	4
Present value of lease liabilities	$ 36	$ 43

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) installment shares	Dec. 31, 2021 USD ($)	Dec. 31, 2020 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Plan term	10 years
Maximum aggregate number of shares that may be issued (in shares) | shares	11,000,000
Unrecognized compensation expense | $	$ 50
Unrecognized compensation expense, weighted average remaining period	1 year 25 days
Prudential ADRs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested awards (in shares) | shares			6,241,847
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of installments | installment	3
Service period	3 years
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
2021 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accrued share-based compensation | $	$ 79	$ 80
Share-based Payment Arrangement, Tranche One | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	30 months
Share-based Payment Arrangement, Tranche One | Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	30 months
Share-based Payment Arrangement, Tranche Two | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Share-based Payment Arrangement, Tranche Three | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	2 years
Minimum | Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	0%
Maximum | Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	200%

Share-Based Compensation - Non-

Share-Based Compensation - Non-Vested RSUs (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Settled
RSUs
Beginning balance (in shares)	1,345,401	0
Granted (in shares)	400,179	641,312
Vested (in shares)	(421,085)	0
Forfeited (in shares)	(146,486)	0
Re-issuance due to modifications (in shares)		704,089
Ending balance (in shares)	1,178,009	1,345,401
Weighted-Average Grant Date Fair Value per Share
Beginning balance (in usd per share)	$ 30.38	$ 26.65	$ 0
Granted (usd per share)	38.32	26.91
Vested (usd per share)	27.14	0
Forfeited (usd per share)	27.15	0
Re-issuance due to modifications (in usd per share)		26.41
Ending balance (in usd per share)	$ 30.38	$ 26.65
Cash-Settled
RSUs
Beginning balance (in shares)	1,920,880	0
Granted (in shares)	1,171,221	1,694,960
Vested (in shares)	(836,671)	0
Forfeited (in shares)	(98,657)	(8,772)
Re-issuance due to modifications (in shares)		234,692
Ending balance (in shares)	2,156,773	1,920,880
Weighted-Average Grant Date Fair Value per Share
Beginning balance (in usd per share)	$ 32.89	$ 26.09	$ 0
Granted (usd per share)	38.74	26.57
Vested (usd per share)	26.98	0
Forfeited (usd per share)	29.01	26.41
Re-issuance due to modifications (in usd per share)		26.41
Ending balance (in usd per share)	$ 32.89	$ 26.09

Share-Based Compensation - No_2

Share-Based Compensation - Non-Vested PSUs (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Settled
PSUs
Beginning balance (in shares)	5,775,795	0
Granted (in shares)	749,064	678,468
Vested (in shares)	(2,127,430)	0
Forfeited (in shares)	(322,099)	(43,753)
Re-issuance due to modifications (in shares)		5,141,080
Ending balance (in shares)	4,075,330	5,775,795
Weighted-Average Grant Date Fair Value per Share
Beginning balance (in usd per share)	$ 28.59	$ 26.59	$ 0
Granted (usd per share)	37.75	27.95
Vested (usd per share)	26.64	0
Forfeited (usd per share)	27	26.41
Re-issuance due to modifications (in usd per share)		26.41
Ending balance (in usd per share)	$ 28.59	$ 26.59
Cash-Settled
PSUs
Beginning balance (in shares)	1,993,641	0
Granted (in shares)	292,132	294,976
Vested (in shares)	(709,089)	0
Forfeited (in shares)	(89,231)	(14,868)
Re-issuance due to modifications (in shares)		1,713,533
Ending balance (in shares)	1,487,453	1,993,641
Weighted-Average Grant Date Fair Value per Share
Beginning balance (in usd per share)	$ 28.73	$ 26.56	$ 0
Granted (usd per share)	37.87	27.42
Vested (usd per share)	26.63	0
Forfeited (usd per share)	26.79	26.41
Re-issuance due to modifications (in usd per share)		26.41
Ending balance (in usd per share)	$ 28.73	$ 26.56

Share-Based Compensation - Expe

Share-Based Compensation - Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Payment Arrangement [Abstract]
Compensation expense recognized	$ 131	$ 129	$ 56
Income tax benefit recognized	$ 29	$ 26	$ 12

Other Related Party Transacti_2

Other Related Party Transactions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Investment management fees	$ 83	$ 104	$ 60
Investment Management Fees | Affiliated Entity
Related Party Transaction [Line Items]
Related party, revenue	$ 33	$ 28	$ 37

Statutory Accounting and Regu_2

Statutory Accounting and Regulatory Matters (Details) - USD ($)		3 Months Ended	12 Months Ended
	Feb. 17, 2023	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statutory Accounting Practices [Line Items]
Statutory capital and surplus			$ 6,000,000,000	$ 6,100,000,000
Statutory net (loss) income			3,688,000,000	136,000,000	$ (1,933,000,000)
Statutory basis VOBA			0	33,000,000
Parent Company
Statutory Accounting Practices [Line Items]
Investment in subsidiaries			8,043,000,000	10,073,000,000
Distributions to affiliates			0	1,550,000,000	526,000,000
Parent Company | Forecast
Statutory Accounting Practices [Line Items]
Distributions to affiliates		$ 600,000,000
Parent Company | Subsequent Event
Statutory Accounting Practices [Line Items]
Distribution amount used for debt servicing	$ 90,000,000
Brooke Life
Statutory Accounting Practices [Line Items]
Amount available for payment of dividends			3,688,000,000
Brooke Life's Parent
Statutory Accounting Practices [Line Items]
Amount available for payment of dividends			501,000,000
Jackson Financial
Statutory Accounting Practices [Line Items]
Investment in subsidiaries			6,000,000,000	6,100,000,000
Brooke Life
Statutory Accounting Practices [Line Items]
Statutory capital and surplus			6,000,000,000	6,100,000,000
Statutory net (loss) income			(109,000,000)	(94,000,000)	$ (85,000,000)
Dividend income			510,000,000
Dividend payments			0	$ 0
Adjusted earned surplus			545,000,000
Jackson Financial
Statutory Accounting Practices [Line Items]
Adjusted earned surplus			$ 943,000,000

Benefit Plans (Details)

Benefit Plans (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) h	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Retirement Benefits [Abstract]
Eligibility, number of service hours in a 12-month period | h	1,000
Eligibility, required service period	12 months
Company match percentage	6%
Defined contribution plan expense	$ 31	$ 32	$ 34
Deferred compensation plan liability	469	564
Deferred compensation plan expense	$ (47)	$ 54	$ 56

Operating Costs and Other Exp_3

Operating Costs and Other Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Costs And Other Expenses [Abstract]
Asset-based commission expenses	$ 1,010	$ 1,126	$ 907
Other commission expenses	846	1,042	1,020
Sub-advisor expenses	329	389	324
Athene ceding commission	0	0	(1,202)
General and administrative expenses	875	1,078	985
Deferrals of acquisition costs	(628)	(796)	(735)
Operating costs and other expenses, net of deferrals	$ 2,432	$ 2,839	$ 1,299

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income - Changes in Balance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	$ 11,074	$ 9,923	$ 7,322
Change in unrealized appreciation (depreciation) of investments	(8,296)	(1,829)	2,598
Change in unrealized appreciation (depreciation) - other	382	90	131
Change in deferred tax asset	811	375	(602)
Other comprehensive income (loss) before reclassifications	(7,103)	(1,364)	2,127
Reclassifications from AOCI, net of tax	(122)	(713)	(704)
Total other comprehensive income (loss)	(7,225)	(2,077)	1,423
Balance	9,155	11,074	9,923
Accumulated Other Comprehensive Income
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	1,744	3,821	2,398
Total other comprehensive income (loss)	(7,225)	(2,077)	1,423
Balance	(5,481)	1,744	$ 3,821
Accumulated Other Comprehensive Income | Policy loans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	287
Balance	$ (2,106)	$ 287

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income - Reclassifications (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net unrealized gain (loss)									$ 3,851	$ (2,478)	$ (6,451)
Amortization of deferred acquisition costs									1,743	520	(533)
Pretax adjusted operating earnings	$ (953)	$ 2,027	$ 3,651	$ 2,386	$ 748	$ 252	$ (538)	$ 3,586	7,111	4,047	(2,491)
Income tax expense (benefit)	(235)	559	717	330	87	(16)	(54)	586	1,371	602	(854)
Net income (loss)	$ (718)	$ 1,468	$ 2,934	$ 2,056	$ 661	$ 268	$ (484)	$ 3,000	5,740	3,445	(1,637)
Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net unrealized gain (loss)									(167)	(942)	(1,138)
Amortization of deferred acquisition costs									12	32	247
Pretax adjusted operating earnings									(155)	(910)	(891)
Income tax expense (benefit)									(33)	(197)	(187)
Net income (loss)									(122)	(713)	(704)
Reclassification out of Accumulated Other Comprehensive Income | Net realized gain (loss) on investments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net unrealized gain (loss)									(167)	(932)	(1,148)
Reclassification out of Accumulated Other Comprehensive Income | Other impaired securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net unrealized gain (loss)									$ 0	$ (10)	$ 10

Equity - Narrative (Details)

Equity - Narrative (Details)						12 Months Ended
	Dec. 31, 2022 USD ($) vote class $ / shares shares	Mar. 12, 2022 $ / shares shares	Feb. 01, 2022 shares	Dec. 13, 2021 $ / shares shares	Sep. 09, 2021	Dec. 31, 2020 USD ($)	Feb. 27, 2023 USD ($)	Feb. 22, 2023 USD ($)	Feb. 28, 2022 USD ($)	Dec. 31, 2021 USD ($) $ / shares shares	Nov. 08, 2021 USD ($)
Class of Stock [Line Items]
Number of classes of common stock | class	2
Common stock, par value (in usd per share) | $ / shares	$ 0.01
Stock split conversion ratio					104,960.3836276
Share repurchase authorized									$ 300,000,000
Conversion ratio			1	1
Dividends						$ 0
Retained earnings	$ (8,283,000,000)									$ (2,809,000,000)
Cumulative Effect of Change in Accounting Principle | Accounting Standards Update 2016-13
Class of Stock [Line Items]
Retained earnings						$ 56,000,000
Subsequent Event
Class of Stock [Line Items]
Share repurchase authorized							$ 450,000,000
Share repurchase remaining								$ 90,000,000
Class A Common Stock
Class of Stock [Line Items]
Common stock, par value (in usd per share) | $ / shares	$ 0.01									$ 0.01
Number of votes per share | vote	1
Common stock, authorized (in shares) | shares	1,000,000,000									900,000,000
Share repurchase authorized											$ 300,000,000
Shares repurchased, price per share (in usd per share) | $ / shares				$ 37.01
Stock issued during period, shares, conversion (in shares) | shares				725,623
Stock issued upon conversion (in shares) | shares			638,861
Class A Common Stock | Prudential
Class of Stock [Line Items]
Shares repurchased (in shares) | shares	2,242,516			2,242,516
Class A Common Stock | Athene
Class of Stock [Line Items]
Shares repurchased (in shares) | shares		750,000		1,134,767
Shares repurchased, price per share (in usd per share) | $ / shares		$ 37.89
Class B Common Stock
Class of Stock [Line Items]
Common stock, par value (in usd per share) | $ / shares										$ 0.01
Number of votes per share | vote	0.10
Common stock, authorized (in shares) | shares										100,000,000

Equity - Share Repurchase Activ

Equity - Share Repurchase Activities (Details) - USD ($) $ / shares in Units, $ in Millions	2 Months Ended	3 Months Ended					12 Months Ended
	Feb. 22, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Equity, Class of Treasury Stock [Line Items]
Purchase of treasury stock							$ 321	$ 211
Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Shares repurchased (in shares)		1,142,105	1,200,000	1,870,854	3,433,610	5,778,649	7,646,569
Purchase of treasury stock		$ 38	$ 39	$ 66	$ 140	$ 211	$ 283
Shares repurchased, price per share (in usd per share)		$ 33.33	$ 32.75	$ 35.15	$ 40.84	$ 36.51	$ 37.05
Share Repurchase Program | Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Shares repurchased (in shares)	409,037
Purchase of treasury stock	$ 16
Shares repurchased, price per share (in usd per share)	$ 39.56

Equity - Changes in Common Shar

Equity - Changes in Common Shares (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, outstanding (in shares)	88,685,694	94,464,343
Share-based compensation programs (in shares)	1,650,973
Shares repurchased (in shares)	(7,646,569)	(5,778,649)
Ending balance, outstanding (in shares)	82,690,098	88,685,694
Class B Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, outstanding (in shares)	638,861
Ending balance, outstanding (in shares)		638,861
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, outstanding (in shares)	94,464,343	94,464,343
Share-based compensation programs (in shares)	10,568
Shares repurchased (in shares)	0	0
Ending balance, outstanding (in shares)	94,474,911	94,464,343
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, outstanding (in shares)	(5,778,649)	0
Share-based compensation programs (in shares)	1,640,405
Shares repurchased (in shares)	(7,646,569)	(5,778,649)
Ending balance, outstanding (in shares)	(11,784,813)	(5,778,649)

Equity - Dividends Paid (Detail

Equity - Dividends Paid (Details) - $ / shares	3 Months Ended				12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Dividends paid per share (in usd per share)	$ 0.55	$ 0.55	$ 0.55	$ 0.55	$ 0.50

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Net income (loss) attributable to Jackson Financial Inc.	$ (710)	$ 1,479	$ 2,903	$ 2,025	$ 585	$ 206	$ (540)	$ 2,932	$ 5,697	$ 3,183	$ (1,634)
Weighted average shares of common stock outstanding - basic (in shares)									85,513,787	93,994,520	67,658,901
Dilutive common shares (in shares)									3,176,913	470,991	0
Weighted average shares of common stock outstanding - diluted (in shares)									88,690,700	94,465,511	67,658,901
Earnings per share—common stock
Basic (in usd per share)	$ (8.48)	$ 17.38	$ 33.77	$ 23.45	$ 6.32	$ 2.18	$ (5.72)	$ 31.03	$ 66.62	$ 33.86	$ (24.14)
Diluted (in usd per share)	$ (8.48)	$ 16.83	$ 32.56	$ 22.51	$ 6.19	$ 2.18	$ (5.72)	$ 31.03	$ 64.23	$ 33.69	$ (24.14)

Revision and Reclassification_3

Revision and Reclassifications of Prior Period Financial Statements - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounting Changes and Error Corrections [Abstract]
Reclassification impacts in cash flows	$ 61	$ 65

Revision and Reclassification_4

Revision and Reclassifications of Prior Period Financial Statements - Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets
Other assets	$ 946	$ 928
Total assets	311,058	375,559
Liabilities
Reserves for future policy benefits and claims payable	14,273	18,667
Other contract holder funds	58,195	58,726
Notes issued by consolidated variable interest entities, at fair value under fair value option (See Note 4)	1,732	1,404
Other liabilities	2,403	2,540
Total liabilities	301,903	364,485
Total liabilities and equity	$ 311,058	375,559
As Previously Reported
Assets
Other assets		853
Total assets		375,484
Liabilities
Reserves for future policy benefits and claims payable		17,629
Other contract holder funds		59,689
Notes issued by consolidated variable interest entities, at fair value under fair value option (See Note 4)		0
Other liabilities		3,944
Total liabilities		364,410
Total liabilities and equity		375,484
Impact of Revisions and Reclassifications
Assets
Other assets		75
Total assets		75
Liabilities
Reserves for future policy benefits and claims payable		1,038
Other contract holder funds		(963)
Notes issued by consolidated variable interest entities, at fair value under fair value option (See Note 4)		1,404
Other liabilities		(1,404)
Total liabilities		75
Total liabilities and equity		75
As Revised
Assets
Other assets		928
Total assets		375,559
Liabilities
Reserves for future policy benefits and claims payable		18,667
Other contract holder funds		58,726
Notes issued by consolidated variable interest entities, at fair value under fair value option (See Note 4)		1,404
Other liabilities		2,540
Total liabilities		364,485
Total liabilities and equity		$ 375,559

Revision and Reclassification_5

Revision and Reclassifications of Prior Period Financial Statements - Condensed Consolidated Income Statements (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Fee income									$ 7,722	$ 8,059	$ 6,928
Premiums									132	148	187
Net investment income									2,761	3,424	2,818
Total revenues	$ (381)	$ 4,022	$ 6,546	$ 4,364	$ 1,725	$ 1,575	$ 341	$ 5,606	14,551	9,247	3,546
Benefits and Expenses
Death, other policy benefits and change in policy reserves, net of deferrals									2,290	970	1,362
Interest credited on other contract holder funds, net of deferrals and amortization									862	834	1,301
Operating costs and other expenses, net of deferrals									2,432	2,839	1,299
Amortization of deferred acquisition costs									1,743	520	(533)
Total benefits and expenses	572	1,995	2,895	1,978	977	1,323	879	2,020	7,440	5,200	6,037
Net income (loss)	$ (718)	$ 1,468	2,934	2,056	661	268	(484)	3,000	$ 5,740	3,445	(1,637)
As Previously Reported
Revenues
Fee income										7,670	6,604
Premiums										133	160
Net investment income										3,429	2,829
Total revenues										8,848	3,206
Benefits and Expenses
Death, other policy benefits and change in policy reserves, net of deferrals										913	1,284
Interest credited on other contract holder funds, net of deferrals and amortization										868	1,210
Operating costs and other expenses, net of deferrals										2,462	984
Amortization of deferred acquisition costs										521	(389)
Total benefits and expenses										4,801	5,697
Net income (loss)										3,445	(1,637)
Impact of Revisions and Reclassifications
Revenues
Fee income										389	324
Premiums										15	27
Net investment income										(5)	(11)
Total revenues			$ 27	$ 63	$ 103	$ 89	$ 109	$ 99		399	340
Benefits and Expenses
Death, other policy benefits and change in policy reserves, net of deferrals										57	78
Interest credited on other contract holder funds, net of deferrals and amortization										(34)	91
Operating costs and other expenses, net of deferrals										377	315
Amortization of deferred acquisition costs										(1)	(144)
Total benefits and expenses										399	340
Net income (loss)										0	0
As Revised
Revenues
Fee income										8,059	6,928
Premiums										148	187
Net investment income										3,424	2,818
Total revenues										9,247	3,546
Benefits and Expenses
Death, other policy benefits and change in policy reserves, net of deferrals										970	1,362
Interest credited on other contract holder funds, net of deferrals and amortization										834	1,301
Operating costs and other expenses, net of deferrals										2,839	1,299
Amortization of deferred acquisition costs										520	(533)
Total benefits and expenses										5,200	6,037
Net income (loss)										$ 3,445	$ (1,637)

Selected Quarterly Financial _3

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reclassification [Line Items]
Total revenues	$ (381)	$ 4,022	$ 6,546	$ 4,364	$ 1,725	$ 1,575	$ 341	$ 5,606	$ 14,551	$ 9,247	$ 3,546
Total benefits and expenses	572	1,995	2,895	1,978	977	1,323	879	2,020	7,440	5,200	6,037
Pretax adjusted operating earnings	(953)	2,027	3,651	2,386	748	252	(538)	3,586	7,111	4,047	(2,491)
Income tax expense (benefit)	(235)	559	717	330	87	(16)	(54)	586	1,371	602	(854)
Net income (loss)	(718)	1,468	2,934	2,056	661	268	(484)	3,000	5,740	3,445	(1,637)
Less: Net income (loss) attributable to noncontrolling interests	(8)	(11)	31	31	76	62	56	68	43	262	(3)
Net income (loss) attributable to Jackson Financial Inc.	$ (710)	$ 1,479	$ 2,903	$ 2,025	$ 585	$ 206	$ (540)	$ 2,932	$ 5,697	$ 3,183	$ (1,634)
Earnings per share
Basic (in usd per share)	$ (8.48)	$ 17.38	$ 33.77	$ 23.45	$ 6.32	$ 2.18	$ (5.72)	$ 31.03	$ 66.62	$ 33.86	$ (24.14)
Diluted (in usd per share)	$ (8.48)	$ 16.83	$ 32.56	$ 22.51	$ 6.19	$ 2.18	$ (5.72)	$ 31.03	$ 64.23	$ 33.69	$ (24.14)
Impact of Revisions and Reclassifications
Reclassification [Line Items]
Total revenues			$ 27	$ 63	$ 103	$ 89	$ 109	$ 99		$ 399	$ 340
Total benefits and expenses										399	340
Net income (loss)										$ 0	$ 0

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 27, 2023	Feb. 28, 2022
Subsequent Event [Line Items]
Share repurchase authorized		$ 300
Subsequent Event
Subsequent Event [Line Items]
Common stock dividend declared (in usd per share)	$ 0.62
Share repurchase authorized	$ 450

Schedule I (Details)

Schedule I (Details) $ in Millions	Dec. 31, 2022 USD ($)
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	$ 71,475
Amount at Which Shown on Balance Sheet	65,946
Total debt securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	51,071
Fair Value	44,762
Amount at Which Shown on Balance Sheet	44,762
U.S. government securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	6,192
Fair Value	5,185
Amount at Which Shown on Balance Sheet	5,185
Other government securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	1,719
Fair Value	1,467
Amount at Which Shown on Balance Sheet	1,467
Public utilities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	5,893
Fair Value	5,225
Amount at Which Shown on Balance Sheet	5,225
Corporate securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	28,803
Fair Value	25,146
Amount at Which Shown on Balance Sheet	25,146
Residential mortgage-backed
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	510
Fair Value	464
Amount at Which Shown on Balance Sheet	464
Commercial mortgage-backed
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	1,821
Fair Value	1,638
Amount at Which Shown on Balance Sheet	1,638
Other asset-backed securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	6,133
Fair Value	5,637
Amount at Which Shown on Balance Sheet	5,637
Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	393
Fair Value	393
Amount at Which Shown on Balance Sheet	393
Mortgage loans
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	11,549
Amount at Which Shown on Balance Sheet	11,549
Policy loans
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	4,377
Amount at Which Shown on Balance Sheet	4,377
Derivative instruments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	1,270
Amount at Which Shown on Balance Sheet	1,270
Other invested assets
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	2,815
Amount at Which Shown on Balance Sheet	$ 3,595

Schedule II (Details)

Schedule II (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets
Debt securities, available-for-sale	$ 42,489				$ 51,547				$ 42,489	$ 51,547
Cash and cash equivalents	4,298				2,623				4,298	2,623	$ 2,019
Accrued investment income	514				503				514	503
Deferred income taxes, net	385				954				385	954
Other assets	946				928				946	928
Total assets	311,058				375,559				311,058	375,559
Liabilities
Long-term debt	2,635				2,649				2,635	2,649
Other liabilities	2,403				2,540				2,403	2,540
Total liabilities	301,903				364,485				301,903	364,485
Equity
Common stock, (i) at December 31, 2022, common stock (formerly known as the Class A Common Stock at December 31, 2021) 1,000,000,000 shares authorized, $0.01 par value per share and 82,690,098 shares issued and outstanding (ii) at December 31, 2021, Class A Common Stock 900,000,000 shares authorized, $0.01 par value per share and 88,046,833 shares issued and outstanding and Class B Common Stock 100,000,000 shares authorized, $0.01 par value per share and 638,861 shares issued and outstanding (See Note 22)	1				1				1	1
Additional paid-in capital	6,063				6,051				6,063	6,051
Treasury stock, at cost; 11,784,813 and 5,778,649 shares at December 31, 2022 and 2021, respectively	(443)				(211)				(443)	(211)
Accumulated other comprehensive income	(5,481)				1,744				(5,481)	1,744
Retained earnings (deficit)	8,283				2,809				8,283	2,809
Total equity	9,155				11,074				9,155	11,074	$ 9,923	$ 7,322
Total liabilities and equity	$ 311,058				$ 375,559				$ 311,058	$ 375,559
Common stock, par value (in usd per share)	$ 0.01								$ 0.01
Common stock, outstanding (in shares)	82,690,098				88,685,694				82,690,098	88,685,694	94,464,343
Treasury stock (in shares)	11,784,813				5,778,649				11,784,813	5,778,649
Revenues
Net investment income									$ 2,761	$ 3,424	$ 2,818
Total revenues	$ (381)	$ 4,022	$ 6,546	$ 4,364	$ 1,725	$ 1,575	$ 341	$ 5,606	14,551	9,247	3,546
Benefits and Expenses
Interest expense									113	37	88
Operating costs and other expenses									2,432	2,839	1,299
Total benefits and expenses	572	1,995	2,895	1,978	977	1,323	879	2,020	7,440	5,200	6,037
Pretax income (loss)	(953)	2,027	3,651	2,386	748	252	(538)	3,586	7,111	4,047	(2,491)
Income tax expense (benefit)	(235)	559	717	330	87	(16)	(54)	586	1,371	602	(854)
Net income (loss) attributable to Jackson Financial Inc.	(710)	1,479	2,903	2,025	585	206	(540)	2,932	5,697	3,183	(1,634)
Sales, maturities and repayments of:
Debt securities									11,535	19,568	30,094
Purchases of:
Debt securities									(11,606)	(14,733)	(28,400)
Net cash provided by (used in) investing activities									(1,374)	(1,296)	(4,333)
Other investing activities									(343)	(554)	334
Cash flows from operating activities:
Net income	(710)	$ 1,479	$ 2,903	2,025	585	$ 206	$ (540)	2,932	5,697	3,183	(1,634)
Adjustments to reconcile net income to net cash provided by operating activities:
Interest expense									113	37	88
Amortization of discount and premium on investments									11	49	55
Other assets and liabilities, net									724	(403)	(441)
Net cash provided by (used in) operating activities									5,206	5,682	3,712
Cash flows from financing activities:
Net proceeds from issuance of senior notes									750	1,593	0
Debt issuance costs									(7)	(28)	0
Dividends on common stock									(186)	(50)	0
Purchase of treasury stock									(321)	(211)	0
Common stock issuance - Athene									0	0	500
Net cash provided by (used in) financing activities									(2,162)	(3,774)	705
Net increase (decrease) in cash, cash equivalents, and restricted cash									1,670	612	84
Cash, cash equivalents, and restricted cash at beginning of period				2,631				2,019	2,631	2,019	1,935
Total cash, cash equivalents, and restricted cash at end of period	4,301				2,631				4,301	2,631	2,019
Non-cash financing transactions
Non-cash dividend equivalents on stock based awards	$ 13				$ 0				13	0	0
Non-cash debt restructuring transactions									0	0	(2,350)
Shares issued in settlement of the debt restructuring									$ 0	$ 0	2,350
Class A Common Stock
Equity
Common stock, authorized (in shares)	1,000,000,000				900,000,000				1,000,000,000	900,000,000
Common stock, par value (in usd per share)	$ 0.01				$ 0.01				$ 0.01	$ 0.01
Common stock, issued (in shares)	82,690,098				88,046,833				82,690,098	88,046,833
Common stock, outstanding (in shares)	82,690,098				88,046,833				82,690,098	88,046,833
Class B Common Stock
Equity
Common stock, authorized (in shares)					100,000,000					100,000,000
Common stock, par value (in usd per share)					$ 0.01					$ 0.01
Common stock, issued (in shares)					638,861					638,861
Common stock, outstanding (in shares)					638,861					638,861
Term loan due 2023 | Term loan
Liabilities
Long-term debt	$ 0				$ 751				$ 0	$ 751
Senior Notes | Senior Notes due 2023
Liabilities
Long-term debt	598				596				598	596
Senior Notes | Senior Notes due 2027
Liabilities
Long-term debt	397				0				397	0
Senior Notes | Senior Notes due 2031
Liabilities
Long-term debt	493				495				493	495
Senior Notes | Senior Notes due 2032
Liabilities
Long-term debt	347				0				347	0
Senior Notes | Senior Notes due 2051
Liabilities
Long-term debt	488				490				488	490
Parent Company
Assets
Debt securities, available-for-sale	450				0				450	0
Investment in subsidiaries	8,043				10,073				8,043	10,073
Cash and cash equivalents	226				604				226	604
Accrued investment income	1				0				1	0
Intercompany receivables	2,054				2,064				2,054	2,064
Deferred income taxes, net	0				2				0	2
Other assets	4				3				4	3
Total assets	10,778				12,746				10,778	12,746
Liabilities
Deferred income taxes, net	1				0				1	0
Intercompany payables	19				0				19	0
Other liabilities	12				20				12	20
Total liabilities	2,355				2,352				2,355	2,352
Equity
Common stock, (i) at December 31, 2022, common stock (formerly known as the Class A Common Stock at December 31, 2021) 1,000,000,000 shares authorized, $0.01 par value per share and 82,690,098 shares issued and outstanding (ii) at December 31, 2021, Class A Common Stock 900,000,000 shares authorized, $0.01 par value per share and 88,046,833 shares issued and outstanding and Class B Common Stock 100,000,000 shares authorized, $0.01 par value per share and 638,861 shares issued and outstanding (See Note 22)	1				1				1	1
Additional paid-in capital	6,063				6,051				6,063	6,051
Treasury stock, at cost; 11,784,813 and 5,778,649 shares at December 31, 2022 and 2021, respectively	(443)				(211)				(443)	(211)
Accumulated other comprehensive income	(5,481)				1,744				(5,481)	1,744
Retained earnings (deficit)	8,283				2,809				8,283	2,809
Total equity	8,423				10,394				8,423	10,394
Total liabilities and equity	$ 10,778				$ 12,746				$ 10,778	$ 12,746
Treasury stock (in shares)	11,784,813				5,778,649				11,784,813	5,778,649
Revenues
Net investment income									$ 10	$ 0	0
Dividends from subsidiaries									510	0	0
Interest income from subsidiaries									90	90	49
Total revenues									610	90	49
Benefits and Expenses
Interest expense									76	15	4
Operating costs and other expenses									29	53	17
Total benefits and expenses									105	68	21
Pretax income (loss)									505	22	28
Income tax expense (benefit)									(1)	9	10
Subsidiary equity earnings (loss)									5,191	3,170	(1,652)
Net income (loss) attributable to Jackson Financial Inc.									5,697	3,183	(1,634)
Sales, maturities and repayments of:
Debt securities									0	0	0
Purchases of:
Debt securities									(445)	0	0
Net cash provided by (used in) investing activities									(445)	0	0
Other investing activities									0	0	0
Cash flows from operating activities:
Net income									5,697	3,183	(1,634)
Adjustments to reconcile net income to net cash provided by operating activities:
Subsidiary equity earnings									(5,191)	(3,170)	1,652
Interest expense									76	15	4
Amortization of discount and premium on investments									(5)	0	0
Other assets and liabilities, net									4	(43)	4
Net cash provided by (used in) operating activities									581	(15)	26
Cash flows from financing activities:
Net proceeds from (payments on) borrowings									(750)	740	0
Net proceeds from issuance of senior notes									750	1,593	0
Debt issuance costs									(7)	(28)	0
Dividends on common stock									(186)	(50)	0
Capital distribution to subsidiary									0	(1,550)	(526)
Share-based compensation expense									0	123	0
Purchase of treasury stock									(321)	(211)	0
Common stock issuance - Athene									0	0	500
Net cash provided by (used in) financing activities									(514)	617	(26)
Net increase (decrease) in cash, cash equivalents, and restricted cash									(378)	602	0
Cash, cash equivalents, and restricted cash at beginning of period				$ 604				$ 2	604	2	2
Total cash, cash equivalents, and restricted cash at end of period	$ 226				$ 604				$ 226	$ 604	$ 2
Parent Company | Class A Common Stock
Equity
Common stock, authorized (in shares)	1,000,000,000				900,000,000				1,000,000,000	900,000,000
Common stock, par value (in usd per share)	$ 0.01				$ 0.01				$ 0.01	$ 0.01
Common stock, issued (in shares)	82,690,098				88,046,833				82,690,098	88,046,833
Common stock, outstanding (in shares)	82,690,098				88,046,833				82,690,098	88,046,833
Parent Company | Class B Common Stock
Equity
Common stock, authorized (in shares)					100,000,000					100,000,000
Common stock, par value (in usd per share)					$ 0.01					$ 0.01
Common stock, issued (in shares)					638,861					638,861
Common stock, outstanding (in shares)					638,861					638,861
Parent Company | Term loan due 2023 | Term loan
Liabilities
Long-term debt	$ 0				$ 751				$ 0	$ 751
Parent Company | Senior Notes
Equity
Unamortized debt issuance costs	20				17				20	17
Parent Company | Senior Notes | Senior Notes due 2023
Liabilities
Long-term debt	598				596				598	596
Parent Company | Senior Notes | Senior Notes due 2027
Liabilities
Long-term debt	397				0				397	0
Parent Company | Senior Notes | Senior Notes due 2031
Liabilities
Long-term debt	493				495				493	495
Parent Company | Senior Notes | Senior Notes due 2032
Liabilities
Long-term debt	347				0				347	0
Parent Company | Senior Notes | Senior Notes due 2051
Liabilities
Long-term debt	$ 488				$ 490				$ 488	$ 490

Schedule III (Details)

Schedule III (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Acquisition Costs	$ 13,422	$ 14,249	$ 13,897
Reserves for Future Policy Benefits and Claims Payable	14,273	18,667	22,512
Other Contract Holder Funds	58,195	58,726	63,592
Premium	132	148	187
Net Investment Income	2,761	3,424	2,818
Interest Credited on Other Contract Holder Funds	862	834	1,301
Deferred Acquisition and Sales Inducements Amortization	1,743	520	(533)
Operating Costs and Other Expenses	2,432	2,839	1,299
Operating Segments and Corporate and Other
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Premium	144	160	199
Net Investment Income	1,486	1,957	2,054
Interest Credited on Other Contract Holder Funds	862	834	1,163
Deferred Acquisition and Sales Inducements Amortization	453	245	94
Operating Costs and Other Expenses	2,432	2,787	2,484
Corporate and Other
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Acquisition Costs	(158)	(5)	24
Reserves for Future Policy Benefits and Claims Payable	0	0	0
Other Contract Holder Funds	0	0	0
Premium	0	0	0
Net Investment Income	65	55	(35)
Interest Credited on Other Contract Holder Funds	0	0	0
Deferred Acquisition and Sales Inducements Amortization	12	34	20
Operating Costs and Other Expenses	123	146	134
Segment Reconciling Items
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Premium	(12)	(12)	(12)
Net Investment Income	1,275	1,467	764
Interest Credited on Other Contract Holder Funds	0	0	138
Deferred Acquisition and Sales Inducements Amortization	1,290	275	(627)
Operating Costs and Other Expenses	0	52	(1,185)
Retail Annuities | Operating Segments
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Acquisition Costs	13,448	14,128	13,739
Reserves for Future Policy Benefits and Claims Payable	2,214	5,980	9,078
Other Contract Holder Funds	36,460	36,737	38,962
Premium	10	15	27
Net Investment Income	403	692	956
Interest Credited on Other Contract Holder Funds	254	226	477
Deferred Acquisition and Sales Inducements Amortization	435	197	57
Operating Costs and Other Expenses	2,174	2,456	2,158
Closed Life and Annuity Blocks | Operating Segments
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Acquisition Costs	132	126	134
Reserves for Future Policy Benefits and Claims Payable	12,059	12,687	13,434
Other Contract Holder Funds	12,716	13,159	13,492
Premium	134	145	172
Net Investment Income	706	950	778
Interest Credited on Other Contract Holder Funds	407	420	436
Deferred Acquisition and Sales Inducements Amortization	6	14	17
Operating Costs and Other Expenses	130	180	187
Institutional Products | Operating Segments
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Acquisition Costs	0	0	0
Reserves for Future Policy Benefits and Claims Payable	0	0	0
Other Contract Holder Funds	9,019	8,830	11,138
Premium	0	0	0
Net Investment Income	312	260	355
Interest Credited on Other Contract Holder Funds	201	188	250
Deferred Acquisition and Sales Inducements Amortization	0	0	0
Operating Costs and Other Expenses	$ 5	$ 5	$ 5

Schedule IV (Details)

Schedule IV (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Life insurance in-force
Gross Amount	$ 86,792	$ 105,704	$ 118,328
Ceded	49,007	63,548	72,188
Assumed	15,976	16,358	17,034
Net Amount	$ 53,761	$ 58,514	$ 63,174
% Amount Assumed to Net	29.70%	28%	27%
Insurance premium
Gross Amount	$ 360	$ 407	$ 336
Ceded	268	301	196
Assumed	40	42	47
Premiums	$ 132	$ 148	$ 187
% Amount Assumed to Net	30.30%	28.40%	25.10%
Life insurance
Insurance premium
Gross Amount	$ 325	$ 354	$ 273
Ceded	228	247	142
Assumed	37	38	42
Premiums	$ 134	$ 145	$ 173
% Amount Assumed to Net	27.60%	26.20%	24.50%
Accident and health
Insurance premium
Gross Amount	$ 25	$ 38	$ 36
Ceded	28	42	41
Assumed	3	4	5
Premiums	0	0	0
Payout annuity
Insurance premium
Gross Amount	10	15	27
Ceded	0	0	0
Assumed	0	0	0
Premiums	10	15	27
Annuity guaranteed benefits
Insurance premium
Gross Amount	0	0	0
Ceded	12	12	13
Assumed	0	0	0
Premiums	$ (12)	$ (12)	$ (13)

Schedule V (Details)

Schedule V (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 117	$ 208
Charged to Costs and Expenses	947	11
Deductions	(21)	(102)
Balance at End of Period	1,043	117
Increase (decrease) in valuation allowance	4	2
Allowance for credit losses on debt securities
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	9	14
Charged to Costs and Expenses	36	11
Deductions	(22)	(16)
Balance at End of Period	23	9
Allowances for credit losses on mortgage and other loans
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	94	179
Charged to Costs and Expenses	0	0
Deductions	1	(85)
Balance at End of Period	95	94
Allowance for credit losses on reinsurance recoverable
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	12	13
Charged to Costs and Expenses	3	0
Deductions	0	(1)
Balance at End of Period	15	12
Valuation allowance on deferred tax asset
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	2	2
Charged to Costs and Expenses	908	0
Deductions	0	0
Balance at End of Period	$ 910	$ 2