F&G Annuities & Life (FG) 10-Q 7 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Oct. 31, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-41490
Entity Registrant Name	F&G Annuities & Life, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-2487422
Entity Address, Address Line One	801 Grand Avenue
Entity Address, Address Line Two	Suite 2600
Entity Address, City or Town	Des Moines
Entity Address, State or Province	IA
Entity Address, Postal Zip Code	50309
City Area Code	866
Local Phone Number	846-4660
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		126,093,561
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001934850
Current Fiscal Year End Date	--12-31
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common stock, par value $0.001 per share
Trading Symbol	FG
Security Exchange Name	NYSE
7.950% Senior Notes Due 2053
Entity Information [Line Items]
Title of 12(b) Security	7.950% Senior Notes due 2053
Trading Symbol	FGN
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Investments:
Fixed maturity securities available for sale, at fair value, at September 30, 2024 and December 31, 2023, at an amortized cost of $49,026 and $43,601, respectively, net of allowance for credit losses of $62 and $35, respectively	$ 46,909	$ 40,419
Derivative investments	1,401	797
Mortgage loans, net of allowance for credit losses of $69 and $66 at September 30, 2024 and December 31, 2023, respectively	5,626	5,336
Investments in unconsolidated affiliates (certain investments at fair value of $272 and $285 at September 30, 2024 and December 31, 2023, respectively)	3,666	3,071
Other long-term investments	675	608
Short-term investments	681	1,452
Total investments	59,393	52,289
Cash and cash equivalents	3,539	1,563
Reinsurance recoverable, net of allowance for credit losses of $21 at September 30, 2024 and December 31, 2023	12,404	8,960
Goodwill	2,179	1,749
Prepaid expenses and other assets	942	931
Other intangible assets, net	5,349	4,207
Market risk benefits asset	134	88
Income taxes receivable	2	27
Deferred tax asset, net	181	388
Total assets	84,123	70,202
Liabilities:
Contractholder funds	55,468	48,798
Future policy benefits	8,268	7,050
Market risk benefits liability	603	403
Accounts payable and accrued liabilities	3,291	2,011
Notes payable	2,038	1,754
Funds withheld for reinsurance liabilities	9,980	7,083
Total liabilities	79,648	67,099
Equity:
Preferred stock $0.001 par value; authorized 25,000,000 shares as of September 30, 2024 and December 31, 2023; outstanding and issued 5,000,000 and 0 shares as of September 30, 2024 and December 31, 2023, respectively	0	0
Common stock, $0.001 par value; authorized 500,000,000 shares as of September 30, 2024 and December 31, 2023; outstanding 126,094,481 and 126,332,142 as of September 30, 2024 and December 31, 2023, respectively; and issued 127,123,308 and 127,234,902 as of September 30, 2024 and December 31, 2023, respectively	0	0
Additional paid-in-capital	3,456	3,185
Retained earnings	2,145	1,926
Accumulated other comprehensive (loss) income	(1,231)	(1,990)
Treasury stock, at cost (1,028,827 shares and 902,760 shares as of September 30, 2024 and December 31, 2023)	(24)	(18)
Total F&G Annuities & Life, Inc. shareholders' equity	4,346	3,103
Non-controlling interests	129	0
Total equity	4,475	3,103
Total liabilities and equity	84,123	70,202
Preferred Stock
Investments:
Preferred and equity securities, at fair value	289	469
Equity Securities
Investments:
Preferred and equity securities, at fair value	$ 146	$ 137

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Fixed maturity securities, available-for-sale securities, amortized cost	$ 49,026	$ 43,601
Fixed maturity securities, available-for-sale securities, allowance for credit losses	62	35
Allowance for credit losses	69	66
Investments in unconsolidated affiliates at fair value	272	285
Allowance for credit losses, reinsurance recoverable	$ 21	$ 21
Preferred stock, par value (in usd per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	5,000,000	0
Preferred stock, shares outstanding (in shares)	5,000,000	0
Common stock, par or stated value per share (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, outstanding (in shares)	126,094,481	126,332,142
Common stock, issued (in shares)	127,123,308	127,234,902
Treasury stock (in shares)	1,028,827	902,760

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Life insurance premiums and other fees		$ 506	$ 582	$ 1,711	$ 1,523
Interest and investment income		712	578	2,012	1,622
Owned distribution revenues		20	0	61	0
Recognized gains and (losses), net		206	(309)	401	(257)
Total revenues		1,444	851	4,185	2,888
Benefits and expenses:
Benefits and other changes in policy reserves (remeasurement gains (losses)	[1]	1,095	292	2,864	1,921
Market risk benefit (gains) losses		71	(49)	80	(20)
Depreciation and amortization		147	108	417	302
Personnel costs		80	58	215	167
Other operating expenses		45	38	149	107
Interest expense		36	24	94	71
Total benefits and expenses		1,474	471	3,819	2,548
Earnings (loss) before income taxes		(30)	380	366	340
Income tax (benefit) expense		(25)	74	51	99
Net earnings (loss)		(5)	306	315	241
Less: Non-controlling interests		1	0	3	0
Net earnings (loss) attributable to F&G		(6)	306	312	241
Less: Preferred stock dividend		4	0	13	0
Net earnings (loss) attributable to F&G common shareholders		$ (10)	$ 306	$ 299	$ 241
Basic
Net earnings (loss) per share attributable to F&G common shareholders, basic (in usd per share)		$ (0.08)	$ 2.47	$ 2.41	$ 1.94
Diluted
Net earnings (loss) per share attributable to F&G common shareholders, diluted (in usd per share)		$ (0.08)	$ 2.45	$ 2.38	$ 1.93
Weighted average shares outstanding F&G common stock, basic basis (in shares)		124,000	124,000	124,000	124,000
Weighted average shares outstanding F&G common stock, diluted basis (in shares)		124,000	125,000	131,000	125,000
[1] The remeasurement gains (losses) for the three and nine months ended September 30, 2024 were $10 million and $21 million, respectively. The remeasurement gains (losses) for the three and nine months ended September 30, 2023 were $1 million and $(4) million, respectively.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Remeasurement gains (losses)	$ 10	$ 1	$ 21	$ (4)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ (5)	$ 306	$ 315	$ 241
Other comprehensive income (loss):
Changes in current discount rate - future policy benefits	(293)	229	(110)	186
Changes in instrument-specific credit risk - market risk benefits	(25)	(10)	(5)	(7)
Unrealized (loss) gain on investments and other financial instruments, net of deferred income taxes	1,036	(672)	875	(512)
Unrealized (loss) gain on foreign currency translation	3	(3)	1	(1)
Reclassification adjustments for change in unrealized gains and losses included in net earnings	1	26	(2)	112
Other comprehensive income (loss)	722	(430)	759	(222)
Comprehensive income (loss)	717	(124)	1,074	19
Less: Comprehensive income attributable to non-controlling interest	1	0	3	0
Comprehensive income (loss) attributable to F&G common shareholders	$ 716	$ (124)	$ 1,071	$ 19

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Millions	Total	Series A Preferred Stock	Additional Paid-in Capital	Additional Paid-in Capital Series A Preferred Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Non-controlling Interests
Balance, beginning at Dec. 31, 2022	$ 2,405		$ 3,162		$ 2,061	$ (2,818)	$ 0	$ 0
Treasury stock purchased	(18)						(18)
Stock-based compensation	16		16
Common stock dividends declared	(50)				(50)
Other comprehensive income (loss)	(222)					(222)
Net earnings (loss)	241				241
Balance, ending at Sep. 30, 2023	2,372		3,178		2,252	(3,040)	(18)	0
Balance, beginning at Jun. 30, 2023	2,518		3,173		1,971	(2,610)	(16)	0
Treasury stock purchased	(2)						(2)
Stock-based compensation	5		5
Common stock dividends declared	(25)				(25)
Other comprehensive income (loss)	(430)					(430)
Net earnings (loss)	306				306
Balance, ending at Sep. 30, 2023	2,372		3,178		2,252	(3,040)	(18)	0
Balance, beginning at Dec. 31, 2023	3,103		3,185		1,926	(1,990)	(18)	0
Acquisition of non-controlling interest	136							136
Issuance of Preferred Stock		$ 250		$ 250
Treasury stock purchased	(6)						(6)
Stock-based compensation	21		21
Preferred stock dividends declared	(13)				(13)
Common stock dividends declared	(80)				(80)
Dividends declared and distributions to non-controlling interests	(10)							(10)
Other comprehensive income (loss)	759					759
Net earnings (loss)	315				312			3
Balance, ending at Sep. 30, 2024	4,475		3,456		2,145	(1,231)	(24)	129
Balance, beginning at Jun. 30, 2024	3,788		3,449		2,182	(1,953)	(24)	134
Stock-based compensation	7		7
Preferred stock dividends declared	(4)				(4)
Common stock dividends declared	(27)				(27)
Dividends declared and distributions to non-controlling interests	(6)							(6)
Other comprehensive income (loss)	722					722
Net earnings (loss)	(5)				(6)			1
Balance, ending at Sep. 30, 2024	$ 4,475		$ 3,456		$ 2,145	$ (1,231)	$ (24)	$ 129

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash Flows from Operating Activities:
Net earnings	$ 315	$ 241
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	417	302
(Gain) loss on sales of investments and other assets and asset impairments, net	(42)	389
Interest credited/index credits to contractholder account balances	1,482	607
Change in market risk benefits, net	80	(20)
Deferred policy acquisition costs and deferred sales inducements	(1,061)	(771)
Charges assessed to contractholders for mortality and administration	(209)	(184)
Distributions from unconsolidated affiliates, return on investment	65	73
Stock-based compensation cost	21	16
Change in NAV of limited partnerships, net	(261)	(160)
Change in valuation of derivatives, equity and preferred securities and other assets, net	(408)	(131)
Changes in assets and liabilities, net of effects from acquisitions:
Change in reinsurance recoverable	(40)	106
Change in future policy benefits	1,080	705
Change in funds withheld from reinsurers	2,895	2,418
Net change in income taxes	42	79
Net change in other assets and other liabilities	303	(58)
Net cash provided by operating activities	4,679	3,612
Cash Flows from Investing Activities:
Proceeds from sales, calls and maturities of investments	7,326	3,786
Additions to property and equipment and capitalized software	(19)	(21)
Purchases of investment securities	(12,015)	(10,193)
Net proceeds from sales, maturities and purchases of short-term investment securities	812	1,399
Other acquisitions/disposals, net of cash acquired	(482)	0
Additional investments in unconsolidated affiliates	(889)	(910)
Distributions from unconsolidated affiliates, return of investment	129	285
Addition to notes receivable	(7)	0
Net cash used in investing activities	(5,145)	(5,654)
Cash Flows from Financing Activities:
Borrowings	550	500
Debt issuance costs	(10)	(8)
Net revolving credit facility (repayments) borrowings	0	(35)
Repayments of outstanding debt	(250)	0
Dividends paid	(88)	(75)
Dividends and distributions paid to non-controlling interest shareholders	(10)	0
Purchases of treasury stock	(6)	(18)
Issuance of preferred stock	250	0
Contractholder account deposits	8,574	5,718
Contractholder account withdrawals	(6,568)	(3,258)
Net cash provided by financing activities	2,442	2,824
Net increase in cash and cash equivalents	1,976	782
Cash and cash equivalents at beginning of period	1,563	960
Cash and cash equivalents at end of period	$ 3,539	$ 1,742

Basis of Financial Statements

Basis of Financial Statements	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Financial Statements	Basis of Financial Statements The financial information in this report presented for interim periods is unaudited and includes the accounts of F&G Annuities & Life, Inc. (“FGAL”) and its subsidiaries (collectively, “we”, “us”, “our”, the "Company" or “F&G”) prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. All adjustments made were of a normal, recurring nature. This report should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2023, filed on February 29, 2024. Description of the Business F&G is a majority-owned subsidiary of Fidelity National Financial, Inc. (NYSE: FNF) (“FNF”). We provide insurance solutions and market a broad portfolio of annuity and life insurance products through retail channels and institutional markets. F&G has one reporting segment, which is consistent with and reflects the manner by which our chief operating decision maker (“CODM”) views and manages the business. For certain disclosures within this Quarterly Report on Form 10-Q, we have elected to aggregate business based on the applicable product type, the manner in which information is regularly reviewed by management and the nature of disclosures that exist outside the Company’s GAAP financial statements. Retail distribution channels products include: • Deferred annuities including fixed indexed annuities (“FIA”), registered index-linked annuities (“RILA”), (together referred to as “indexed annuities”) and fixed rate annuities including multi-year guarantee annuities (“MYGA”), • Immediate annuities, and • Indexed universal life (“IUL”) insurance. Institutional markets products include: • Pension risk transfer (“PRT”) solutions, and • Funding agreements, including funding agreement backed notes (“FABN”) and Federal Home Loan Bank funding agreements (“FHLB”). Recent Developments Owned Distribution Investments On January 2, 2024, F&G acquired a 70% majority ownership stake in the equity of Roar Joint Venture, LLC (“Roar”) resulting in the consolidation of Roar in F&G’s financial statements. Roar wholesales life insurance and annuity products to banks and broker dealers through a network of agents. Total initial consideration is comprised of cash of approximately $269 million and $48 million of contingent consideration. Under the terms of the purchase agreement, the Company has agreed to make cash payments of up to approximately $90 million over a three-year period upon the achievement by Roar of certain earnings before interest, taxes, depreciation and amortization (“EBITDA”) milestones. The contingent consideration is recorded at fair value in Accounts payable and accrued liabilities in the unaudited Condensed Consolidated Balance Sheets. Changes in the fair value of the contingent consideration are recorded in Other operating expenses in the unaudited Condensed Consolidated Statements of Operations. On July 18, 2024, F&G acquired a 100% ownership stake in the equity of PALH, LLC (“PALH”). PALH markets and sells life insurance and annuity products of various insurance carriers to individuals through a network of agents. Prior to the acquisition date, PALH owned a 70% ownership stake in an operating company of which F&G owned 30% equity. Total consideration of approximately $314 million is comprised of cash of $215 million, settlement of a prepaid asset of $8 million, acquisition date fair value of the previously held interests of $92 million, net of $1 million cash acquired. Owned distribution revenues generated from commissions earned on contracts with insurance carriers are considered variable consideration. Revenue is recognized at the effective date of each policy sold under a contract and reported net of related expenses within Owned Distribution Revenues on the accompanying unaudited Condensed Consolidated Statements of Operations and consists of revenue primarily from annuity products. Intercompany transactions are eliminated in consolidation. For more information regarding the Roar and PALH acquisitions, refer to Note P - Acquisitions. FNF $250 million Preferred Stock Investment On January 12, 2024, we completed a $250 million preferred stock investment from FNF. Net proceeds from the investment have been used to support the growth of F&G’s assets under management. Under the terms of the agreement, FNF agreed to invest $250 million in exchange for 5,000,000 shares of F&G’s 6.875% Series A Mandatory Convertible Preferred Stock, par value $.0.001 per share, liquidation preference of $50.00 per share (the “FNF Preferred Stock”). Each outstanding share of the FNF Preferred Stock will automatically convert into shares of F&G common stock on or before January 15, 2027. Revolving Credit Facility On February 16, 2024, F&G entered into an amendment and extension of its existing senior unsecured revolving credit agreement (the “Credit Agreement”). The maturity date of the Credit Agreement was extended by approximately two years from November 22, 2025 to November 22, 2027. Total borrowing availability increased from $665 million to $750 million. Pricing and advance rates remain unchanged. Financial covenants also remain essentially the same. 6.50% F&G Senior Notes On June 4, 2024, F&G completed its public offering of $550 million aggregate principal amount of its 6.50% Senior Notes due 2029 (the “6.50% F&G Notes”). The 6.50% F&G Notes are guaranteed on an unsecured, unsubordinated basis by each of F&G’s subsidiaries that are guarantors of F&G’s obligations under its existing credit agreement. A portion of the net proceeds were used to finance a cash tender offer by its wholly owned subsidiary Fidelity & Guaranty Life Holdings, Inc. (“FGLH”) for an aggregate principal amount of $250 million of FGLH’s 5.50% Senior Notes due 2025 (the “5.50% F&G Notes”). F&G intends to use the remaining net proceeds of this offering for general corporate purposes, which may include the repurchase, redemption or repayment at maturity of outstanding indebtedness. The 6.50% F&G Notes were registered under the Securities Act of 1934 (as amended) (the “Securities Act”). 6.250% F&G Senior Notes Subsequent to September 30, 2024, on October 4, 2024, F&G completed its public offering of its 6.250% Senior Notes due 2034 with the aggregate principal amount of $500 million (the “6.250% F&G Notes”). The 6.250% F&G Notes are guaranteed on an unsecured, unsubordinated basis by each of F&G’s subsidiaries that are guarantors of F&G’s obligations under its existing credit agreements. A portion of the net proceeds were used to pay off the outstanding balance of $365 million on the Company’s revolving credit facility. F&G intends to use the remaining net proceeds of this offering for general corporate purposes, including the support of organic growth opportunities. The 6.250% F&G Notes were registered under the Securities Act. Refer to Note L - Notes Payable for further information related to these financing facilities. Dividends On November 6, 2024, our Board of Directors declared a quarterly cash dividend of $0.8594 per share on the FNF Preferred Stock for the period from October 15, 2024 to and excluding January 15, 2025, to be payable on January 15, 2025, to FNF Preferred Stock record holders on January 1, 2025. On November 6, 2024, our Board of Directors also declared a quarterly cash dividend of $0.22 per common share, payable on December 31, 2024, to F&G common shareholders of record as of December 17, 2024. Generally, no dividends will be declared or paid on F&G common stock and no common stock can be acquired by F&G unless all preferred dividends are declared and paid on the FNF Preferred Stock. Unconsolidated Owned Distribution Investments We paid commissions on sales through our unconsolidated owned distribution investments and their affiliates of approximately $16 million and $37 million for the three months ended September 30, 2024 and September 30, 2023 respectively, and $110 million and $114 million for the nine months ended September 30, 2024 and September 30, 2023, respectively. The acquisition expense is deferred and amortized in Depreciation and amortization on the accompanying unaudited Condensed Consolidated Statements of Operations. Earnings Per Share Basic earnings per share (“EPS”), as presented on the unaudited Condensed Consolidated Statements of Operations, is computed by dividing net earnings available to common shareholders in a given period by the weighted average number of common shares outstanding during such period. Net earnings available to common shareholders is net earnings adjusted for net earnings attributable to non-controlling interests, preferred stock dividends, including preferred stock dividends declared. In periods when earnings are positive, diluted EPS is calculated by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding plus assumed conversions of potentially dilutive securities. For periods when we recognize a net loss, diluted loss per share is equal to basic loss per share as the impact of assumed conversions of potentially dilutive securities is considered to be antidilutive. Certain shares of restricted stock, using the treasury stock method and, as of January 12, 2024, the FNF Preferred Stock, using the if-converted method, are treated as common share equivalents for purposes of calculating diluted earnings per share for periods in which the effect is dilutive. The if-converted method assumes that the convertible preferred stock converts into common stock at the beginning of the period or date of issuance, if later. Comprehensive Income (Loss) We report Comprehensive Income (Loss) in accordance with GAAP on the unaudited Condensed Consolidated Statements of Comprehensive Income. Total comprehensive income is defined as all changes in shareholders' equity during a period, other than those resulting from investments by and distributions to shareholders. While total Comprehensive Income (Loss) is the activity in a period and is largely driven by net earnings in that period, Accumulated other comprehensive income or loss (“AOCI”) represents the cumulative balance of other comprehensive income, net of tax, as of the balance sheet date. Amounts reclassified to net earnings relate to the realized gains (losses) on our investments and other financial instruments, excluding investments in unconsolidated affiliates, and are included in Recognized gains and (losses), net on the unaudited Condensed Consolidated Statements of Operations. The income tax effects are released from AOCI when the related activity is reclassified to net earnings. Changes in the balance of Other comprehensive income (loss) for the three and nine months ended September 30, 2024 and 2023 by component are as follows (in millions). Three months ended September 30, 2024 Unrealized gain Change in Change in Foreign Currency Translation Total Accumulated Other Comprehensive Income (Loss) Balance at June 30, 2024 $ (2,643) $ 756 $ (63) $ (3) $ (1,953) Reclassification adjustments included in net earnings (a) 1 — — — 1 Other comprehensive income (loss) before tax, net of reclassifications 1,298 (371) (31) 4 900 Deferred income tax (expense) benefit (262) 78 6 (1) (179) Balance at September 30, 2024 $ (1,606) $ 463 $ (88) $ — $ (1,231) Three months ended September 30, 2023 Unrealized gain Change in Change in Foreign Currency Translation Total Accumulated Other Comprehensive Income (Loss) Balance at June 30, 2023 $ (3,282) $ 720 $ (46) $ (2) $ (2,610) Reclassification adjustments included in net earnings (a) 26 — — — 26 Other comprehensive income (loss) before tax, net of reclassifications (847) 290 (13) (3) (573) Deferred income tax (expense) benefit 175 (61) 3 — 117 Balance at September 30, 2023 $ (3,928) $ 949 $ (56) $ (5) $ (3,040) (a) Net of income tax expense (benefit) of $0 and $(7) million for the three months ended September 30, 2024 and September 30, 2023, respectively. Nine months ended September 30, 2024 Unrealized gain Change in Change in Foreign Currency Translation Total Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2023 $ (2,479) $ 573 $ (83) $ (1) $ (1,990) Reclassification adjustments included in net earnings (a) (2) — — — (2) Other comprehensive income (loss) before tax, net of reclassifications 1,096 (139) (6) 1 952 Deferred income tax (expense) benefit (221) 29 1 — (191) Balance at September 30, 2024 $ (1,606) $ 463 $ (88) $ — $ (1,231) Nine months ended September 30, 2023 Unrealized gain Change in Change in Foreign Currency Translation Total Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2022 $ (3,528) $ 763 $ (49) $ (4) $ (2,818) Reclassification adjustments included in net earnings (a) 112 — — — 112 Other comprehensive income (loss) before tax, net of reclassifications (644) 235 (9) (1) (419) Deferred income tax (expense) benefit 132 (49) 2 — 85 Balance at September 30, 2023 $ (3,928) $ 949 $ (56) $ (5) $ (3,040) (a) Net of income tax expense (benefit) of $0 and $(30) million for the nine months ended September 30, 2024 and September 30, 2023, respectively. Recent Accounting Pronouncements Adopted Pronouncements In March 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2023-02, Accounting for Investments in Tax Credit Structure Using the Proportional Amortization Method (a consensus of the Emerging Issues Task Force). The amendments in this update permit reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. We adopted this standard on January 1, 2024, as required, and there was no material impact to our unaudited Condensed Consolidated Financial Statements. Refer to Note H - Income Taxes for further information. Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expense categories that are regularly provided to the CODM and included in each reported measure of a segment’s profit or loss. In addition, the amendments enhance interim disclosure requirements that are currently required annually, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, and contain other disclosure requirements. Additionally, the amendments require that entities with a single reportable segment must now provide all the disclosures previously required under Topic 280. The amendments in this update are incremental to the current requirements of Topic 280 and do not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. The enhanced segment disclosure requirements apply retrospectively to all prior periods presented in the financial statements. The significant segment expense and other segment item amounts disclosed in prior periods shall be based on the significant segment expense categories identified and disclosed in the period of adoption. The amendments in this update are effective for all public entities for fiscal years beginning after December 15, 2023, and interim periods beginning after December 15, 2024. Early adoption is permitted, and the updates must be applied retrospectively to all periods presented in the financial statements. We do not expect to early adopt this standard and are in the process of assessing its impact on our disclosures upon adoption. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments in this update enhance the transparency of the income tax disclosures by expanding on the disclosures required annually. The amendments require entities to disclose in their rate reconciliation table additional categories of information about federal, state, and foreign income taxes, in addition to providing details about the reconciling items in some categories if above a quantitative threshold. Additionally, the amendments require annual disclosure of income taxes paid (net of refunds received) disaggregated by jurisdiction based on a quantitative threshold. The amendments in this update are effective for public business entities for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments should be applied on a prospective basis, and retrospective application is permitted. We do not expect to early adopt this standard and are in the process of assessing its impact on our disclosures upon adoption. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The amendments in this update enhance transparency of certain expense captions by disclosing more granular information of specific expenses within those captions such as personnel costs, depreciation, and amortization. The amendments also require disclosure of qualitative description of amounts remaining in relevant expense captions that are not separately disaggregated. The amendments in this update are effective for all public companies for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted, and the amendments should be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to all prior periods presented in the financial statements. We do not expect to early adopt this standard and are in the process of assessing its impact on our disclosures upon adoption. Updates to Summary of Significant Accounting Policies Since our Annual Report on Form 10-K for the year ended December 31, 2023, we have updated certain of the following significant accounting policies, which have been followed in preparing the accompanying unaudited Condensed Consolidated Financial Statements, as a result of amending certain reinsurance agreements. See Note E - Reinsurance for additional information.: Market Risk Benefits (“MRBs”) MRBs are contracts or contract features that both provide protection to the contract holder from other-than-nominal capital market risk (equity, interest rate and foreign exchange risk) and expose the Company to other-than-nominal capital market risk. MRBs include certain contract features primarily on FIA products that provide minimum guarantees to policyholders, such as guaranteed minimum death benefit, guaranteed minimum withdrawal benefit (“GMWB”) riders and guaranteed minimum accumulation benefit riders. In certain reinsurance transactions, the underlying risks ceded to a reinsurer contain MRBs. MRBs (inclusive of reinsured MRBs) are measured at fair value using an attributed fee measurement approach, where attributed fees are explicit rider charges collectible from the policyholder (or paid to the reinsurer) used to cover the excess benefits, which represent expected benefits in excess of the policyholder’s account value. At contract inception, an attributed fee ratio is calculated equal to rider charges over benefits paid in excess of the account value attributable to the MRBs. The attributed fee ratio remains static over the life of the MRBs and is capped at 100%. Each period subsequent to contract inception, the attributed fee ratio is used to calculate the fair value of the MRBs using a risk neutral valuation method and is based on current net amounts at risk, market data, internal and industry experience, and other factors. The balances are computed using assumptions including mortality, full and partial surrender, rider benefit utilization, risk-free rates including non-performance spread and risk margin, market value of options and economic scenarios. Policyholder behavior assumptions are reviewed at least annually, typically in the third quarter, for any revisions. Reinsured MRBs are valued using a methodology consistent with direct MRBs, with the exception of the non-performance spread which reflects the credit of the reinsurer. MRBs can either be in an asset or liability position and are presented separately on the unaudited Condensed Consolidated Balance Sheets as the right of setoff criteria are not met. Changes in fair value, net, are recognized in Market risk benefits (gains) losses in the unaudited Condensed Consolidated Statements of Operations, except for the change in fair value due to a change in our instrument-specific credit risk, which is recognized in the unaudited Condensed Consolidated Statements of Comprehensive Earnings. See a description of the fair value methodology used in Note B - Fair Value of Financial Instruments and Note G - Market Risk Benefits .

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Our measurement of fair value is based on assumptions used by market participants in pricing the asset or liability, which may include inherent risk, restrictions on the sale or use of an asset, or non-performance risk, which may include our own credit risk. We estimate an exchange price is the price in an orderly transaction between market participants to sell the asset or transfer the liability (“exit price”) in the principal market, or the most advantageous market for that asset or liability in the absence of a principal market as opposed to the price that would be paid to acquire the asset or assume a liability (“entry price”). We categorize financial instruments carried at fair value into a three-level fair value hierarchy, based on the priority of inputs to the respective valuation technique, along with net asset value. The three-level hierarchy for fair value measurement is defined as follows: Level 1 – Values are unadjusted quoted prices for identical assets and liabilities in active markets accessible at the measurement date. Level 2 – Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices from those willing to trade in markets that are not active, or other inputs that are observable or can be corroborated by market data for the term of the instrument. Such inputs include market interest rates and volatilities, spreads, and yield curves. Level 3 – Certain inputs are unobservable (supported by little or no market activity) and significant to the fair value measurement. Unobservable inputs reflect the Company’s best estimate of what hypothetical market participants would use to determine a transaction price for the asset or liability at the reporting date based on the best information available in the circumstances. Net Asset Value (“NAV”) – Certain equity investments are measured using NAV as a practical expedient in determining fair value. In addition, our unconsolidated affiliates (primarily limited partnerships) are primarily accounted for using the equity method of accounting with fair value determined using NAV as a practical expedient. Our carrying value reflects our pro rata ownership percentage as indicated by NAV in the unconsolidated affiliate’s financial statements, which we may adjust if we determine NAV is not calculated consistent with investment company fair value principles. The underlying investments of the unconsolidated affiliates may have significant unobservable inputs, which may include, but are not limited to, comparable multiples and weighted average cost of capital rates applied in valuation models or a discounted cash flow model. Additionally, management inquires quarterly with the general partner to determine whether any credit or other market events have occurred since prior period financial statements to ensure any material events are properly included in current period valuation and investment income. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the investment. When a determination is made to classify an asset or liability within Level 3 of the fair value hierarchy, the determination is based upon the significance of the unobservable inputs to the overall fair value measurement. Because certain securities trade in less liquid or illiquid markets with limited or no pricing information, the determination of fair value for these securities is inherently more difficult. In addition to the unobservable inputs, Level 3 fair value investments may include observable components, which are components that are actively quoted or can be validated to market-based sources. Our assets and liabilities measured and carried at fair value on a recurring basis, summarized according to the hierarchy previously described, are as follows (in millions): September 30, 2024 Level 1 Level 2 Level 3 NAV Fair Value Assets Cash and cash equivalents $ 3,539 $ — $ — $ — $ 3,539 Fixed maturity securities, available-for-sale: Asset-backed securities — 7,772 8,184 — 15,956 Commercial mortgage-backed securities — 5,124 — — 5,124 Corporates 44 17,844 2,723 — 20,611 Hybrids 37 559 — — 596 Municipals — 1,473 — — 1,473 Residential mortgage-backed securities — 2,588 3 — 2,591 U.S. Government 352 — — — 352 Foreign Governments — 201 5 — 206 Preferred securities 131 151 7 — 289 Equity securities 87 — — 59 146 Derivative investments — 1,401 — — 1,401 Investment in unconsolidated affiliates — — 272 — 272 Short term investments 517 8 156 — 681 Other long-term investments — — 38 38 Market risk benefits asset — — 134 — 134 Total financial assets at fair value $ 4,707 $ 37,121 $ 11,522 $ 59 $ 53,409 Liabilities Derivatives: Indexed annuities/IUL embedded derivatives, included in contractholder funds $ — $ — $ 5,411 $ — $ 5,411 Reinsurance related embedded derivative — 34 — — 34 Contingent consideration obligation — — 69 — 69 Market risk benefits liability — — 603 — 603 Total financial liabilities at fair value $ — $ 34 $ 6,083 $ — $ 6,117 December 31, 2023 Level 1 Level 2 Level 3 NAV Fair Value Assets Cash and cash equivalents $ 1,563 $ — $ — $ — $ 1,563 Fixed maturity securities, available-for-sale: Asset-backed securities — 7,212 7,122 — 14,334 Commercial mortgage-backed securities — 4,392 18 — 4,410 Corporates — 14,609 1,970 — 16,579 Hybrids 95 523 — — 618 Municipals — 1,518 49 — 1,567 Residential mortgage-backed securities — 2,421 3 — 2,424 U.S. Government 261 — — — 261 Foreign Governments — 210 16 — 226 Preferred securities 152 310 7 — 469 Equity securities 78 — — 59 137 Derivative investments — 740 57 — 797 Investment in unconsolidated affiliates — — 285 — 285 Short term investments 1,444 8 — — 1,452 Reinsurance related embedded derivative, included in other assets — 152 — — 152 Other long-term investments — — 37 — 37 Market risk benefits asset — — 88 — 88 Total financial assets at fair value $ 3,593 $ 32,095 $ 9,652 $ 59 $ 45,399 Liabilities Derivatives: Indexed annuities/IUL embedded derivatives, included in contractholder funds $ — $ — $ 4,258 $ — $ 4,258 Market risk benefits liability — — 403 — 403 Total financial liabilities at fair value $ — $ — $ 4,661 $ — $ 4,661 Valuation Methodologies Cash and Cash Equivalents The carrying amounts reported in the unaudited Condensed Consolidated Balance Sheets for these instruments approximate fair value. Fixed Maturity, Preferred and Equity Securities We measure the fair value of our securities based on assumptions used by market participants in pricing the security. The most appropriate valuation methodology is selected based on the specific characteristics of the fixed maturity, preferred or equity security, and we will then consistently apply the valuation methodology to measure the security’s fair value. Our fair value measurement is based on a market approach, which utilizes prices and other relevant information generated by market transactions involving identical or comparable securities. Sources of inputs to the market approach include third-party pricing services, independent broker quotations, or pricing matrices. We use observable and unobservable inputs in our valuation methodologies. Observable inputs include benchmark yields, reported trades, broker-dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. In addition, market indicators and industry and economic events are monitored and further market data will be acquired when certain thresholds are met. For certain security types, additional inputs may be used, or some of the inputs described above may not be applicable. The significant input used in the fair value measurement of equity securities for which the market approach valuation technique is employed is yield for comparable securities. Increases or decreases in the yields would result in lower or higher, respectively, fair value measurements. For broker-quoted only securities, quotes from market makers or broker-dealers are obtained from sources recognized to be market participants. We believe the broker quotes are prices at which trades could be executed based on historical trades executed at broker-quoted or slightly higher prices. We analyze the third-party valuation methodologies and related inputs to perform assessments to determine the appropriate level within the fair value hierarchy. However, we did not adjust prices received from third parties as of September 30, 2024 or December 31, 2023. Certain equity investments are measured using NAV as a practical expedient in determining fair value. Derivative Financial Instruments Our call options and put options (together referred to as “equity options”), futures contracts, and interest rate swaps can either be exchange traded or over the counter. Exchange traded derivatives typically fall within Level 1 of the fair value hierarchy if there is active trading activity. Two methods are used to value over-the-counter derivatives. When required inputs are available, certain derivatives are valued using valuation pricing models, which represent what we would expect to receive or pay at the balance sheet date if we cancelled or exercised the derivative, or entered into offsetting positions. Valuation models require a variety of inputs, which include the use of market-observable inputs, including interest rate, yield curve volatilities, and other factors. These over-the-counter derivatives are typically classified within Level 2 of the fair value hierarchy as the majority trade in liquid markets, we can verify model inputs and model selection does not involve significant management judgment. When inputs aren’t available for valuation models, certain over-the-counter derivatives are valued using independent broker quotes, which are based on unobservable market data and classified within Level 3. Effective September 30, 2024, pricing for certain derivatives was obtained from internal models using substantially all market observable inputs, and those derivatives were transferred out of Level 3 to Level 2. The fair value of the reinsurance-related embedded derivatives in our funds withheld reinsurance agreements are estimated based upon the fair value of the assets supporting the funds withheld from reinsurance liabilities. The fair value of the assets is based on a quoted market price of similar assets (Level 2), and therefore the fair value of the embedded derivative is based on market-observable inputs and classified as Level 2. The fair value measurement of the indexed annuities/IUL embedded derivatives included in contractholder funds is determined through a combination of market observable information and significant unobservable inputs using the option budget method. The market observable inputs are the market value of option and treasury rates. The significant unobservable inputs are the budgeted option cost (i.e., the expected cost to purchase equity options in future periods to fund the equity indexed linked feature), surrender rates, mortality multiplier and non-performance spread. The mortality multiplier at September 30, 2024 and December 31, 2023 was applied to the 2012 Individual Annuity mortality tables. Increases or decreases in the market value of an option in isolation would result in a higher or lower, respectively, fair value measurement. Increases or decreases in treasury rates, mortality multiplier, surrender rates, or non-performance spread in isolation would result in a lower or higher fair value measurement, respectively. Generally, a change in any one unobservable input would not directly result in a change in any other unobservable input. Investments in Unconsolidated affiliates We have elected the fair value option (“FVO”) for certain investments in unconsolidated affiliates as we believe this better aligns them with other investments in unconsolidated affiliates that are measured using NAV as a practical expedient in determining fair value. Investments measured using the FVO are included in Level 3 and the fair values of these investments are determined using a multiple of the affiliates’ EBITDA. The EBITDA is based on the affiliates’ financial information. The multiple is derived from market analysis of transactions involving comparable companies. The inputs are considered unobservable, as not all market participants have access to this data. Short-term Investments The carrying amounts reported in the unaudited Condensed Consolidated Balance Sheets for these instruments approximate fair value. Other Long-term Investments We hold a fund-linked note, which provides for an additional payment at maturity based on the value of an embedded derivative based on the actual return of a dedicated return fund. Fair value of the embedded derivative is based on an unobservable input, the NAV of the fund at the balance sheet date. The embedded derivative is similar to an equity option on the net asset value of the fund with a strike price of zero since we will not be required to make any additional payments at maturity of the fund-linked note in order to receive the NAV of the fund on the maturity date. A Black-Scholes model determines the NAV of the fund as the fair value of the equity option regardless of the values used for the other inputs to the option pricing model. The NAV of the fund is provided by the fund manager at the end of each calendar month and represents the value an investor would receive if it withdrew its investment on the balance sheet date. Therefore, the key unobservable input used in the Black-Scholes model is the value of the fund. As the value of the fund increases or decreases, the fair value of the embedded derivative will increase or decrease. See further discussion on the available-for-sale embedded derivative in Note D - Derivative Financial Instruments . The fair value of the credit-linked note is based on a weighted average of a broker quote and a discounted cash flow analysis. The discounted cash flow approach is based on the expected portfolio cash flows and amortization schedule reflecting investment expectations, adjusted for assumptions on the portfolio's default and recovery rates, and the note's discount rate. The fair value of the note is provided by the fund manager at the end of each quarter. Contingent Consideration The contingent consideration liability is measured at fair value using a discounted cash flow model applied using a Monte Carlo simulation of estimated EBITDA at each measurement period and for each simulated path relative to contractual EBITDA milestones. The Monte Carlo simulation utilizes a risk-adjusted discount rate, volatility assumption, and risk-free rates to assess the probability Roar's EBITDA trajectory reaches required milestones for the earn out payments to be made. The discounted cash flow approach applies a company-specific discount rate based on F&G credit profile to future expected earn out payments to calculate the estimated fair value based on the average outcome from the simulation. See further discussion on the contingent consideration in Note N - Commitments and Contingencies . Market Risk Benefits MRBs (inclusive of reinsured MRBs) are measured at fair value using an attributed fee measurement approach where attributed fees are explicit rider charges collectible from the policyholder (or paid to the reinsurer) used to cover the excess benefits. The fair value is calculated using a risk neutral valuation method and is based on current net amounts at risk, market data, internal and industry experience, and other factors. The balances are computed using assumptions including mortality, full and partial surrender, rider benefit utilization, risk-free rates including non-performance spread and risk margin, market value of options and economic scenarios. Policyholder behavior assumptions are reviewed at least annually, typically in the third quarter, for any revisions. Reinsured MRBs are valued using a methodology consistent with direct MRBs, with the exception of the non-performance spread which reflects the credit of the reinsurer. See further discussion on MRBs in Note G - Market Risk Benefits . Quantitative information regarding significant unobservable inputs used for recurring Level 3 fair value measurements of financial instruments carried at fair value as of September 30, 2024 and December 31, 2023, excluding assets and liabilities for which significant quantitative unobservable inputs are not developed internally and not readily available to the Company (primarily those valued using broker quotes and certain third-party pricing services), are as follows (in millions): Valuation Technique Unobservable Input(s) Range (Weighted average) Fair Value at September 30, 2024 September 30, 2024 Assets Asset-backed securities $ 99 Third-Party Valuation Discount Rate 4.82% - 6.71% (5.83%) Corporates 741 Third-Party Valuation Discount Rate 3.55% - 20.69% (6.47%) Residential mortgage-backed securities 3 Third-Party Valuation Discount Rate 5.19% - 5.19% (5.19%) Foreign Governments 5 Third-Party Valuation Discount Rate 6.91% - 6.91% (6.91%) Investment in unconsolidated affiliates 272 Market Comparable Company Analysis EBITDA Multiple 8.8x - 15.1x (11.7x) Other long-term investments: Available-for-sale embedded derivative 34 Black Scholes Model Market Value of AnchorPath Fund 100.00% Market risk benefits asset 134 Discounted Cash Flow Mortality 80.00% - 115.00% (100.00%) Surrender Rates 0.25% - 30.00% (5.22%) Partial Withdrawal Rates 2.00% - 24.39% (2.48%) Non-Performance Spread 0.30% - 0.98% (0.82%) GMWB Utilization 50.00% - 60.00% (50.57%) Total financial assets at fair value (a) $ 1,288 Valuation Technique Unobservable Input(s) Range (Weighted average) Fair Value at September 30, 2024 September 30, 2024 Liabilities Derivatives: Indexed annuity/IUL embedded derivatives, included in contractholder funds $ 5,411 Discounted Cash Flow Market Value of Option 0.00% - 30.14% (4.21%) Mortality Multiplier 80.00% - 115.00% (100.00%) Surrender Rates 0.25% - 50.00% (7.23%) Partial Withdrawals 2.00% - 35.71% (2.72%) Non-Performance Spread 0.30% - 0.98% (0.82%) Option Cost 0.07% - 5.70% (2.61%) Contingent consideration 69 Discounted Cash Flow Risk-Adjusted Discount Rate 13.00% - 13.00% (13.00%) EBITDA Volatility 35.00% - 35.00% (35.00%) Counterparty Discount Rate 6.00% - 6.00% (6.00%) Market risk benefits liability 603 Discounted Cash Flow Mortality 80.00% - 115.00% (100.00%) Surrender Rates 0.25% - 30.00% (5.22%) Partial Withdrawal Rates 2.00% - 24.39% (2.48%) Non-Performance Spread 0.30% - 0.98% (0.82%) GMWB Utilization 50.00% - 60.00% (50.57%) Total financial liabilities at fair value $ 6,083 (a) Assets of $10,234 million for which significant quantitative unobservable inputs are not developed internally and not readily available to the Company (primarily those valued using broker quotes and certain third-party pricing services) are excluded from the respective totals in the table above. Valuation Technique Unobservable Input(s) Range (Weighted average) Fair Value at December 31, 2023 December 31, 2023 Assets Asset-backed securities $ 57 Third-Party Valuation Discount Rate 5.09% - 6.95% (6.00%) Corporates 787 Third-Party Valuation Discount Rate 0.00% - 12.87% (6.91%) Municipals 32 Third-Party Valuation Discount Rate 6.25% - 6.25% (6.25%) Residential mortgage-backed securities 3 Third-Party Valuation Discount Rate 5.46% - 5.46% (5.46%) Foreign Governments 16 Third-Party Valuation Discount Rate 6.94% - 7.68% (7.45%) Investment in unconsolidated affiliates 285 Market Comparable Company Analysis EBITDA Multiple 4.4x - 31.8x (23.2x) Other long-term investments: Available-for-sale embedded derivative 28 Black Scholes Model Market Value of Fund 100.00% Market risk benefits asset 88 Discounted Cash Flow Mortality 100.00% - 100.00% (100.00%) Surrender Rates 0.25% - 10.00% (5.22%) Partial Withdrawal Rates 0.00% - 23.26% (2.50%) Non-Performance Spread 0.38% -1.10% (0.96%) GMWB Utilization 50.00% -60.00% (50.81%) Total financial assets at fair value (a) $ 1,296 Liabilities Derivatives: Indexed annuity/ IUL embedded derivatives, included in contractholder funds $ 4,258 Discounted Cash Flow Market Value of Option 0.00% - 18.93% (2.63%) Mortality Multiplier 100.00% - 100.00% (100.00%) Surrender Rates 0.25% - 70.00% (6.83%) Partial Withdrawals 2.00% - 34.48% (2.74%) Non-Performance Spread 0.38% - 1.10% (0.96%) Option Cost 0.07% - 5.48% (2.38%) Market risk benefits liability 403 Discounted Cash Flow Mortality 100.00% - 100.00% (100.00%) Surrender Rates 0.25% - 10.00% (5.22%) Partial Withdrawal Rates 0.00% - 23.26% (2.50%) Non-Performance Spread 0.38% - 1.10% (0.96%) GMWB Utilization 50.00% -60.00% (50.81%) Total financial liabilities at fair value $ 4,661 (a) Assets of $8,356 million for which significant quantitative unobservable inputs are not developed internally and not readily available to the Company (primarily those valued using broker quotes and certain third-party pricing services) are excluded from the table above. The following tables summarize changes to the Company’s financial instruments carried at fair value and classified within Level 3 of the fair value hierarchy for the three and nine months ended September 30, 2024 and 2023 (in millions). The gains and losses below may include changes in fair value due in part to observable inputs that are a component of the valuation methodology. Three months ended September 30, 2024 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Change in Unrealized Gains (Losses) Incl in OCI Included in Included in AOCI Assets Fixed maturity securities, available-for-sale: Asset-backed securities $ 8,042 $ (3) $ 77 $ 515 $ (30) $ (358) $ (59) $ 8,184 $ 77 Commercial mortgage-backed securities 15 — — — — — (15) — — Corporates 2,350 (2) 65 353 — (43) — 2,723 64 Residential mortgage-backed securities 3 — — — — — — 3 — Foreign Governments 5 — — — — — — 5 — Preferred securities 7 — — — — — — 7 — Derivative investments 8 — (1) — — — (7) — — Investment in unconsolidated affiliates (b) 358 6 — — — — (92) 272 — Short term investments 71 — — 85 — — — 156 — Other long-term investments: Available-for-sale embedded derivative 31 — 3 — — — — 34 3 Credit linked note 6 — — — — (2) — 4 — Subtotal assets at Level 3 fair value $ 10,896 $ 1 $ 144 $ 953 $ (30) $ (403) $ (173) $ 11,388 $ 144 Market risk benefits asset (c) 103 134 Total assets at Level 3 fair value $ 10,999 $ 11,522 Liabilities Indexed annuity/ IUL embedded derivatives, included in contractholder funds $ 4,848 $ 308 $ — $ 390 $ — $ (135) $ — $ 5,411 $ — Interest rate swaps 28 — — — — (28) — Contingent consideration 63 6 — — — — — 69 — Subtotal liabilities at Level 3 fair value $ 4,939 $ 314 $ — $ 390 $ — $ (135) $ (28) $ 5,480 $ — Market risk benefits liability (c) 459 603 Total liabilities at Level 3 fair value $ 5,398 $ 6,083 (a) The net transfers out of Level 3 during the three months ended September 30, 2024 were exclusively to Level 2. (b) The transfer out of investments in unconsolidated affiliates represents F&G’s 30% ownership of PALH prior to the majority acquisition on July 18, 2024. Refer to Note P - Acquisitions for details of the PALH majority acquisition. (c) Refer to Note G - Market Risk Benefits for roll forward activity of the net Market Risk Benefits Asset and Liability. Three months ended September 30, 2023 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Level 3 (a) Balance at End of Change in Unrealized Included in OCI Included in Included in AOCI Assets Fixed maturity securities, available-for-sale: Asset-backed securities $ 6,510 $ (45) $ 75 $ 536 $ (27) $ (171) $ (121) $ 6,757 $ 75 Commercial mortgage-backed securities 17 — — 10 — — — 27 — Corporates 1,618 — (21) 162 — (24) — 1,735 (21) Municipals 49 — (2) — — — — 47 (2) Residential mortgage-backed securities 28 — (1) — — (1) (23) 3 (1) Foreign Governments 16 — — — — — — 16 — Preferred securities 6 — 1 — — — — 7 1 Investment in unconsolidated affiliates 197 — — 75 — — — 272 — Short-term investments 126 — — 65 (19) (103) — 69 — Other long-term investments: Available-for-sale embedded derivative 26 — (3) — — — — 23 (3) Credit linked note 13 — — — — (1) — 12 — Secured borrowing receivable 10 — — — — — — 10 — Subtotal assets at Level 3 fair value $ 8,616 $ (45) $ 49 $ 848 $ (46) $ (300) $ (144) $ 8,978 $ 49 Market risk benefits asset (b) 118 118 Total assets at Level 3 fair value $ 8,734 $ 9,096 Liabilities Indexed annuity/IUL embedded derivatives, included in contractholder funds $ 3,821 $ (796) $ — $ 576 $ — $ (45) $ — $ 3,556 $ — Interest rate swaps — 16 — — — — — 16 — Subtotal liabilities at Level 3 fair value $ 3,821 $ (780) $ — $ 576 $ — $ (45) $ — $ 3,572 $ — Market risk benefits liability (b) 313 278 Total liabilities at Level 3 fair value $ 4,134 $ 3,850 (a) The net transfers out of Level 3 during the three months ended September 30, 2023 were exclusively to Level 2. (b) Refer to Note G - Market Risk Benefits for roll forward activity of the net Market Risk Benefits Asset and Liability. Nine months ended September 30, 2024 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Change in Unrealized Gains (Losses) Incl in OCI Included in Included in AOCI Assets Fixed maturity securities, available-for-sale: Asset-backed securities $ 7,122 $ 12 $ 187 $ 1,981 $ (109) $ (904) $ (105) $ 8,184 $ 184 Commercial mortgage-backed securities 18 — — 58 — — (76) — — Corporates 1,970 (2) 78 873 (93) (85) (18) 2,723 77 Municipals 49 — 1 — (50) — — — 1 Residential mortgage-backed securities 3 — — 1 — — (1) 3 — Foreign Governments 16 — — — — (11) — 5 Preferred securities 7 — — — — — — 7 — Derivative investments 57 (50) — — — — (7) — 1 Investment in unconsolidated affiliates (b) 285 79 — — — — (92) 272 — Short term investments — — — 156 — — — 156 — Other long-term investments: Available-for-sale embedded derivative 27 — 7 — — — — 34 7 Credit linked note 10 1 — — — (7) — 4 — Subtotal assets at Level 3 fair value $ 9,564 $ 40 $ 273 $ 3,069 $ (252) $ (1,007) $ (299) $ 11,388 $ 270 Market risk benefits asset (c) 88 134 Total assets at Level 3 fair value $ 9,652 $ 11,522 Liabilities Indexed annuity/ IUL embedded derivatives, included in contractholder funds $ 4,258 $ 452 $ — $ 1,011 $ — $ (310) $ — $ 5,411 $ — Interest rate swaps — 28 — — — — (28) — — Contingent consideration (d) — 21 — 48 — — — 69 — Subtotal liabilities at Level 3 fair value $ 4,258 $ 501 $ — $ 1,059 $ — $ (310) $ (28) $ 5,480 $ — Market risk benefits liability (c) 403 603 Total liabilities at Level 3 fair value $ 4,661 $ 6,083 (a) The net transfers out of Level 3 during the nine months ended September 30, 2024 were exclusively to Level 2. (b) The transfer out of investments in unconsolidated affiliates represents F&G’s 30% ownership of PALH prior to the majority acquisition on July 18, 2024. Refer to Note P - Acquisitions for details of the PALH majority acquisition. (c) Refer to Note G - Market Risk Benefits for roll forward activity of the net Market Risk Benefits Asset and Liability. (d) The initial contingent consideration recorded in the Roar transaction is included in purchases in the table above. Refer to Note P - Acquisitions for more information. Nine months ended September 30, 2023 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Change in Unrealized Gains (Losses) Incl in OCI Included in Included in AOCI Assets Fixed maturity securities, available-for-sale: Asset-backed securities $ 6,263 $ (56) $ 108 $ 1,331 $ (125) $ (557) $ (207) $ 6,757 $ 107 Commercial mortgage-backed securities 37 — 1 22 — — (33) 27 1 Corporates 1,427 (1) (77) 421 — (43) 8 1,735 (77) Municipals 29 — 18 — — — — 47 18 Residential mortgage-backed securities 302 1 7 32 — (9) (330) 3 7 Foreign Governments 16 — — — — — — 16 — Preferred securities — — 1 — — — 6 7 1 Investment in unconsolidated affiliates (b) 23 — — 249 — — — 272 — Short term investments — — — 191 (19) (103) — 69 — Other long-term investments: Available-for-sale embedded derivative 23 — — — — — — 23 — Credit linked note 15 — — — 0 — (3) — 12 — Secured borrowing receivable 10 — — — — — — 10 — Subtotal assets at Level 3 fair value $ 8,145 $ (56) $ 58 $ 2,246 $ (144) $ (715) $ (556) $ 8,978 $ 57 Market risk benefits asset (b) 117 118 Total assets at Level 3 fair value $ 8,262 $ 9,096 Liabilities Indexed annuity/ IUL embedded derivatives, included in contractholder funds $ 3,115 $ (214) $ — $ 765 $ — $ (110) $ — $ 3,556 $ — Interest rate swaps — 16 — — — — — 16 — Subtotal liabilities at Level 3 fair value $ 3,115 $ (198) $ — $ 765 $ — $ (110) $ — $ 3,572 $ — Market risk benefits liability (b) 282 278 Total liabilities at Level 3 fair value $ 3,397 $ 3,850 (a) The net transfers out of Level 3 during the nine months ended September 30, 2023 were exclusively to Level 2. (b) Refer to Note G - Market Risk Benefits for roll forward activity of the net Market Risk Benefits Asset and Liability. Valuation Methodologies and Associated Inputs for Financial Instruments Not Carried at Fair Value The following discussion outlines the methodologies and assumptions used to determine the fair value of our financial instruments not carried at fair value. Considerable judgment is required to develop these assumptions used to measure fair value. Accordingly, the estimates shown are not necessarily indicative of the amounts that would be realized in a one-time, current market exchange of all of our financial instruments. Mortgage Loans The fair value of mortgage loans is established using a discounted cash flow method based on internal credit rating, maturity and future income. This yield-based approach is sourced from our third-party vendor. The internal ratings for mortgages in good standing are based on property type, location, market conditions, occupancy, debt service coverage, loan-to-value, quality of tenancy, borrower, and payment record. The inputs used to measure the fair value of our mortgage loans are classified as Level 3 within the fair value hierarchy. Investments in Unconsolidated affiliates The fair value of investments in unconsolidated affiliates is primarily determined using NAV as a practical expedient. Recognition of income and adjustments to the carrying amount are delayed due to the availability of the related financial statements, which are obtained from the general partner typically on a one to three-month delay. Policy Loans (included within Other long-term investments) Policy loans are reported at the unpaid principal balance and are fully collateralized by the cash surrender value of underlying insurance policies. The carrying value of the policy loans approximates the fair value and are classified as Level 3 in the fair value hierarchy. Company Owned Life Insurance Company owned life insurance (“COLI”) is a life insurance program used to finance certain employee benefit expenses. The fair value of COLI is based on net realizable value, which is generally cash surrender value. COLI is classified as Level 3 within the fair value hierarchy. Investment Contracts Investment contracts include deferred annuities (indexed annuities and fixed rate annuities), IUL policies, funding agreements and PRT and immediate annuity contracts without life contingencies. The indexed annuities/IUL embedded derivatives, included in contractholder funds, are excluded as they are carried at fair value. The fair value of the deferred annuities (indexed annuities and fixed rate annuities) and IUL contracts is based on their cash surrender value (i.e., the cost the Company would incur to extinguish the liability) as these contracts are generally issued without an annuitization date. The fair value of funding agreements and PRT and immediate annuity contracts without life contingencies is derived by calculating a new fair value interest rate using the updated yield curve and treasury spreads as of the respective reporting date. The Company is not required to, and has not, estimated the fair value of the liabilities under contracts that involve significant mortality or morbidity risks, as these liabilities fall within the definition of insurance contracts that are exceptions from finan

Investments

Investments	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Our investments in fixed maturity securities have been designated as available-for-sale (“AFS”) and are carried at fair value, net of allowance for expected credit losses, with unrealized gains and losses included within AOCI, net of deferred income taxes. Our preferred and equity securities investments are carried at fair value with unrealized gains and losses included in net earnings. The Company’s consolidated investments are summarized as follows (in millions): September 30, 2024 Amortized Cost Allowance for Expected Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value AFS securities Asset-backed securities $ 15,979 $ (12) $ 264 $ (275) $ 15,956 Commercial mortgage-backed securities 5,304 (49) 60 (191) 5,124 Corporates 22,302 — 381 (2,072) 20,611 Hybrids 609 — 6 (19) 596 Municipals 1,635 — 20 (182) 1,473 Residential mortgage-backed securities 2,608 (1) 61 (77) 2,591 U.S. Government 352 — 2 (2) 352 Foreign Governments 237 — 3 (34) 206 Total AFS securities $ 49,026 $ (62) $ 797 $ (2,852) $ 46,909 December 31, 2023 Amortized Cost Allowance for Expected Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value AFS securities Asset-backed securities $ 14,623 $ (11) $ 191 $ (469) $ 14,334 Commercial mortgage-backed securities 4,732 (22) 23 (323) 4,410 Corporates 18,780 — 178 (2,379) 16,579 Hybrids 668 — 3 (53) 618 Municipals 1,776 — 14 (223) 1,567 Residential mortgage-backed securities 2,501 (2) 29 (104) 2,424 U.S. Government 258 — 4 (1) 261 Foreign Governments 263 — 2 (39) 226 Total AFS securities $ 43,601 $ (35) $ 444 $ (3,591) $ 40,419 As of September 30, 2024 and December 31, 2023, the Company held $29 million and $47 million, respectively, of investments that were non-income producing for a period greater than twelve months. As of September 30, 2024 and December 31, 2023, the Company's accrued interest receivable balance was $ 531 469 In accordance with our FHLB agreements, the investments supporting the funding agreement liabilities are pledged as collateral to secure the FHLB funding agreement liabilities and are not available to us for general purposes. The collateral investments had a fair value of $5,123 million and $4,345 million as of September 30, 2024 and December 31, 2023, respectively. The amortized cost and fair value of fixed maturity securities by contractual maturities, as applicable, are shown below (in millions). Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. September 30, 2024 December 31, 2023 Amortized Cost Fair Value Amortized Cost Fair Value Corporates, Non-structured Hybrids, Municipal, Foreign and U.S. Government Securities: Due in one year or less $ 451 $ 450 $ 383 $ 374 Due after one year through five years 3,945 3,943 3,207 3,129 Due after five years through ten years 4,570 4,571 2,822 2,680 Due after ten years 16,169 14,274 15,333 13,068 Subtotal 25,135 23,238 21,745 19,251 Other securities, which provide for periodic payments: Asset-backed securities 15,979 15,956 14,623 14,334 Commercial mortgage-backed securities 5,304 5,124 4,732 4,410 Residential mortgage-backed securities 2,608 2,591 2,501 2,424 Subtotal 23,891 23,671 21,856 21,168 Total fixed maturity AFS securities $ 49,026 $ 46,909 $ 43,601 $ 40,419 Allowance for Current Expected Credit Loss We regularly review AFS securities for declines in fair value that we determine to be credit related. For our fixed maturity securities, we generally consider the following in determining whether our unrealized losses are credit related, and if so, the magnitude of the credit loss: • The extent to which the fair value is less than the amortized cost basis; • The reasons for the decline in value (credit event, currency or interest-rate related, including general credit spread widening); • The financial condition of and near-term prospects of the issuer (including issuer's current credit rating and the probability of full recovery of principal based upon the issuer's financial strength); • Current delinquencies and non-performing assets of underlying collateral; • Expected future default rates; • Collateral value by vintage, geographic region, industry concentration or property type; • Subordination levels or other credit enhancements as of the balance sheet date as compared to origination; and • Contractual and regulatory cash obligations and the issuer's plans to meet such obligations. We recognize an allowance for current expected credit losses on fixed maturity securities in an unrealized loss position when it is determined, using the factors discussed above, a component of the unrealized loss is related to credit. We measure the credit loss using a discounted cash flow model that utilizes the single best estimate cash flow and the recognized credit loss is limited to the total unrealized loss on the security (i.e., the fair value floor). Cash flows are discounted using the implicit yield of bonds at their time of purchase and the current book yield for asset and mortgage-backed securities as well as variable rate securities. We recognize the expected credit losses in Recognized gains and (losses), net in the unaudited Condensed Consolidated Statements of Operations, with an offset for the amount of non-credit impairments recognized in AOCI. We do not measure a credit loss allowance on accrued investment income because we write-off accrued interest through Interest and investment income when collectability concerns arise. We consider the following in determining whether write-offs of a security’s amortized cost are necessary: • We believe amounts related to securities have become uncollectible; • We intend to sell a security; or • It is more likely than not that we will be required to sell a security prior to recovery. If we intend to sell a fixed maturity security or it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis and the fair value of the security is below amortized cost, we will write down the security to current fair value, with a corresponding charge, net of any amount previously recognized as an allowance for expected credit loss, to Recognized gains and (losses), net in the accompanying unaudited Condensed Consolidated Statements of Operations. If we do not intend to sell a fixed maturity security or it is more likely than not that we will not be required to sell a fixed maturity security before recovery of its amortized cost basis but believe amounts related to a security are uncollectible, an impairment is deemed to have occurred and the amortized cost is written down to the estimated recovery value with a corresponding charge, net of any amount previously recognized as an allowance for expected credit loss, to Recognized gains and (losses), net in the accompanying unaudited Condensed Consolidated Statements of Operations. The remainder of unrealized loss is held in other comprehensive income in the accompanying unaudited Condensed Consolidated Statements of Equity. The activity in the allowance for expected credit losses of AFS securities aggregated by investment category was as follows (in millions): Three months ended September 30, 2024 Additions Reductions Balance at Beginning of Period For credit losses on securities for which losses were not previously recorded (Additions) reductions in allowance recorded on previously impaired securities For securities sold during the period For securities intended/required to be sold prior to recovery of amortized cost basis Write offs charged against the allowance Recoveries of amounts previously written off Balance at End of Period AFS securities Asset-backed securities $ (11) $ (1) $ — $ — $ — $ — $ — $ (12) Commercial mortgage-backed securities (46) (3) — — — — — (49) Residential mortgage-backed securities (1) 1 (1) — — — — (1) Total AFS securities $ (58) $ (3) $ (1) $ — $ — $ — $ — $ (62) Three months ended September 30, 2023 Additions Reductions Balance at Beginning of Period For credit losses on securities for which losses were not previously recorded (Additions) reductions in allowance recorded on previously impaired securities For securities sold during the period For securities intended/required to be sold prior to recovery of amortized cost basis Write offs charged against the allowance Recoveries of amounts previously written off Balance at End of Period AFS securities Asset-backed securities $ (7) $ (7) $ (4) $ — $ — $ — — $ (18) Commercial mortgage-backed securities (18) (1) 2 — — — — (17) Residential mortgage-backed securities (7) (3) 7 — — — — (3) Total AFS securities $ (32) $ (11) $ 5 $ — $ — $ — $ — $ (38) Nine months ended September 30, 2024 Additions Reductions Balance at Beginning of Period For credit losses on securities for which losses were not previously recorded (Additions) reductions in allowance recorded on previously impaired securities For securities sold during the period For securities intended/required to be sold prior to recovery of amortized cost basis Write offs charged against the allowance Recoveries of amounts previously written off Balance at End of Period AFS securities Asset-backed securities $ (11) $ (2) $ 1 $ — $ — $ — $ — $ (12) Commercial mortgage-backed securities (22) (8) (19) — — — — (49) Residential mortgage-backed securities (2) — 1 — — — — (1) Total AFS securities $ (35) $ (10) $ (17) $ — $ — $ — $ — $ (62) Nine months ended September 30, 2023 Additions Reductions Balance at Beginning of Period For credit losses on securities for which losses were not previously recorded (Additions) reductions in allowance recorded on previously impaired securities For securities sold during the period For securities intended/required to be sold prior to recovery of amortized cost basis Write offs charged against the allowance Recoveries of amounts previously written off Balance at End of Period AFS securities Asset-backed securities $ (8) $ (13) $ 3 $ — $ — $ — — $ (18) Commercial mortgage-backed securities (1) (21) 5 — — — — (17) Corporates (15) — — 15 — — — — Residential mortgage-backed securities (7) (4) 8 — — — — (3) Total AFS securities $ (31) $ (38) $ 16 $ 15 $ — $ — $ — $ (38) There were no purchases of purchased credit deteriorated AFS securities during the nine months ended September 30, 2024 or for the year ended December 31, 2023. The fair value and gross unrealized losses of AFS securities, excluding securities in an unrealized loss position with an allowance for expected credit loss, aggregated by investment category and duration of fair value below amortized cost as of September 30, 2024 and December 31, 2023 were as follows (dollars in millions): September 30, 2024 Less than 12 months 12 months or longer Total Fair Value Gross Unrealized Fair Value Gross Unrealized Fair Value Gross Unrealized AFS securities Asset-backed securities $ 583 $ (19) $ 3,447 $ (237) $ 4,030 $ (256) Commercial mortgage-backed securities 199 (5) 1,674 (168) 1,873 (173) Corporates 1,223 (7) 9,973 (2,065) 11,196 (2,072) Hybrids 47 (1) 393 (18) 440 (19) Municipals 82 (1) 1,047 (181) 1,129 (182) Residential mortgage-backed securities 188 (3) 445 (68) 633 (71) U.S. Government 256 (1) 10 (1) 266 (2) Foreign Government — — 145 (34) 145 (34) Total AFS securities $ 2,578 $ (37) $ 17,134 $ (2,772) $ 19,712 $ (2,809) Total number of AFS in an unrealized loss position less than twelve months 529 Total number of AFS securities in an unrealized loss position twelve months or longer 2,200 Total number of AFS securities in an unrealized loss position 2,729 December 31, 2023 Less than 12 months 12 months or longer Total Fair Value Gross Unrealized Fair Value Gross Unrealized Fair Value Gross Unrealized AFS securities Asset-backed securities $ 1,707 $ (56) $ 5,835 $ (404) $ 7,542 $ (460) Commercial mortgage-backed securities 798 (53) 1,916 (234) 2,714 (287) Corporates 2,273 (128) 9,779 (2,251) 12,052 (2,379) Hybrids 60 (2) 483 (51) 543 (53) Municipals 392 (48) 884 (174) 1,276 (222) Residential mortgage-backed securities 334 (5) 660 (89) 994 (94) U.S. Government 5 — 9 (1) 14 (1) Foreign Government 25 (1) 145 (38) 170 (39) Total AFS securities $ 5,594 $ (293) $ 19,711 $ (3,242) $ 25,305 $ (3,535) Total number of AFS securities in an unrealized loss position less than twelve months 927 Total number of AFS securities in an unrealized loss position twelve months or longer 2,602 Total number of AFS securities in an unrealized loss position 3,529 We determined the unrealized losses were caused by higher treasury rates compared to those at the time of the FNF acquisition or the purchase of the security if later. For securities in an unrealized loss position as of September 30, 2024, our allowance for expected credit loss was $62 million. We believe the unrealized loss position for which we have not recorded an allowance for expected credit loss as of September 30, 2024 was primarily attributable to interest rate increases, near-term illiquidity, and other macroeconomic uncertainties as opposed to issuer specific credit concerns. Mortgage Loans Our mortgage loans are collateralized by commercial and residential properties. Commercial Mortgage Loans Commercial mortgage loans (“CMLs”) represented approximately 4% and 5% of our total investments as of September 30, 2024 and December 31, 2023, respectively. The mortgage loans in our investment portfolio, are generally comprised of high quality commercial first lien and mezzanine real estate loans. Mortgage loans are primarily on income producing properties including industrial properties, retail buildings, multifamily properties and office buildings. We diversify our CML portfolio by geographic region and property type to attempt to reduce concentration risk. We continuously evaluate CMLs based on relevant current information to ensure properties are performing at a consistent and acceptable level to secure the related debt. The distribution of CMLs, gross of valuation allowances, by property type and geographic region is reflected in the following tables (dollars in millions): September 30, 2024 December 31, 2023 Gross Carrying Value % of Total Gross Carrying Value % of Total Property Type: Hotel $ 17 1 % $ 18 1 % Industrial 617 24 616 24 Mixed Use 11 — 11 — Multifamily 1,006 39 1,012 40 Office 356 14 316 13 Retail 99 4 102 4 Student Housing 83 3 83 3 Other 401 15 392 15 Total CMLs, gross of valuation allowance 2,590 100 % 2,550 100 % Allowance for expected credit loss (18) (12) Total CMLs, net of valuation allowance $ 2,572 $ 2,538 U.S. Region: East North Central $ 98 4 % $ 151 6 % East South Central 75 3 75 3 Middle Atlantic 354 14 354 14 Mountain 409 16 352 14 New England 164 6 168 6 Pacific 713 27 766 30 South Atlantic 595 23 563 22 West North Central 22 1 4 — West South Central 160 6 117 5 Total CMLs, gross of valuation allowance 2,590 100 % 2,550 100 % Allowance for expected credit loss (18) (12) Total CMLs, net of valuation allowance $ 2,572 $ 2,538 CMLs segregated by aging of the loans and charge offs (by year of origination) as of September 30, 2024 and December 31, 2023, were as follows, gross of valuation allowances (in millions): September 30, 2024 Amortized Cost by Origination Year 2024 2023 2022 2021 2020 Prior Total Current (less than 30 days past due) $ 140 $ 221 $ 289 $ 1,253 $ 469 $ 209 $ 2,581 30-89 days past due — — — — — 9 9 90 days or more past due — — — — — — — Total CMLs $ 140 $ 221 $ 289 $ 1,253 $ 469 $ 218 $ 2,590 Charge offs $ — $ — $ — $ — $ — $ — $ — December 31, 2023 Amortized Cost by Origination Year 2023 2022 2021 2020 2019 Prior Total Current (less than 30 days past due) $ 213 $ 288 $ 1,256 $ 512 $ — $ 259 $ 2,528 30-89 days past due — — — — — — — 90 days or more past due — — — — — — — Total CMLs (a) $ 213 $ 288 $ 1,256 $ 512 $ — $ 259 $ 2,528 Charge offs $ — $ — $ — $ — $ — $ 3 $ 3 (a) Excludes loans under development with an amortized cost and estimated fair value of $22 million. Loan-to-value (“LTV”) and debt service coverage (“DSC”) ratios are measures commonly used to assess the risk and quality of mortgage loans. The LTV ratio is expressed as a percentage of the amount of the loan relative to the value of the underlying property. A LTV ratio in excess of 100% indicates the unpaid loan amount exceeds the underlying collateral. The DSC ratio, based upon the most recently received financial statements, is expressed as a percentage of the amount of a property’s net income to its debt service payments. A DSC ratio of less than 1.00 indicates that a property’s operations do not generate sufficient income to cover debt payments. We normalize our DSC ratios to a 25-year amortization period for purposes of our general loan allowance evaluation. The following tables present the recorded investment in CMLs by LTV and DSC ratio categories and estimated fair value by the indicated loan-to-value ratios, gross of valuation allowances at September 30, 2024 and December 31, 2023 (dollars in millions) : Debt-Service Coverage Ratios Total Amount % of Total Estimated Fair Value % of Total >1.25 1.00 - 1.25 <1.00 September 30, 2024 LTV Ratios: Less than 50.00% $ 499 $ 8 $ 9 $ 516 20 % $ 501 21 % 50.00% to 59.99% 749 59 12 820 31 752 32 60.00% to 74.99% 1,182 57 — 1,239 48 1,074 46 75.00% to 84.99% — 6 9 15 1 15 1 Total CMLs $ 2,430 $ 130 $ 30 $ 2,590 100 % $ 2,342 100 % December 31, 2023 LTV Ratios: Less than 50.00% $ 519 $ 4 $ 10 $ 533 21 % $ 510 23 % 50.00% to 59.99% 764 — — 764 30 679 30 60.00% to 74.99% 1,160 56 — 1,216 48 1,028 46 75.00% to 84.99% — 6 9 15 1 14 1 Total CMLs (a) $ 2,443 $ 66 $ 19 $ 2,528 100 % $ 2,231 100 % (a) Excludes loans under development with an amortized cost and estimated fair value of $22 million. September 30, 2024 Amortized Cost by Origination Year 2024 2023 2022 2021 2020 Prior Total LTV Ratios: Less than 50.00% $ 58 $ 93 $ 18 $ 74 $ 189 $ 84 $ 516 50.00% to 59.99% 59 53 149 267 158 134 820 60.00% to 74.99% 23 69 113 912 122 — 1,239 75.00% to 84.99% — 6 9 — — — 15 Total CMLs $ 140 $ 221 $ 289 $ 1,253 $ 469 $ 218 $ 2,590 DSCR Greater than 1.25x $ 72 $ 161 $ 278 $ 1,241 $ 469 $ 209 $ 2,430 1.00x - 1.25x 67 60 3 — — — 130 Less than 1.00x 1 — 8 12 — 9 30 Total CMLs $ 140 $ 221 $ 289 $ 1,253 $ 469 $ 218 $ 2,590 December 31, 2023 Amortized Cost by Origination Year 2023 2022 2021 2020 2019 Prior Total LTV Ratios: Less than 50.00% $ 85 $ 17 $ 77 $ 232 $ — $ 122 $ 533 50.00% to 59.99% 53 149 267 158 — 137 764 60.00% to 74.99% 69 113 912 122 — — 1,216 75.00% to 84.99% 6 9 — — — — 15 Total CMLs (a) $ 213 $ 288 $ 1,256 $ 512 $ — $ 259 $ 2,528 DSCR Greater than 1.25x $ 154 $ 276 $ 1,256 $ 512 $ — $ 245 $ 2,443 1.00x - 1.25x 59 3 — — — 4 66 Less than 1.00x — 9 — — — 10 19 Total CMLs (a) $ 213 $ 288 $ 1,256 $ 512 $ — $ 259 $ 2,528 (a) Excludes loans under development with an amortized cost and estimated fair value of $22 million. We recognize a mortgage loan as delinquent when payments on the loan are greater than 30 days past due. At September 30, 2024, we had one CML that was delinquent in principal or interest payments as shown in the risk rating exposure table above compared to none at December 31, 2023. Residential Mortgage Loans Residential mortgage loans (“RMLs”) represented approximately 5% of our total investments as of September 30, 2024 and December 31, 2023. Our RMLs are primarily closed end, amortizing loans and 100% of the properties are located in the United States. We diversify our RML portfolio by state to attempt to reduce concentration risk. The distribution of RMLs by state with highest-to-lowest concentration are reflected in the following tables, gross of valuation allowances (dollars in millions): September 30, 2024 Amortized Cost % of Total U.S. State: Florida $ 160 5 % All other states (a) 2,945 95 Total RMLs, gross of valuation allowance 3,105 100 % Allowance for expected credit loss (51) Total RMLs, net of valuation allowance $ 3,054 (a) The individual concentration of each state is less than 5% as of September 30, 2024. December 31, 2023 Amortized Cost % of Total U.S. State: Florida $ 163 6 % New York 129 5 Texas 129 5 All other states (a) 2,431 84 Total RMLs, gross of valuation allowance 2,852 100 % Allowance for expected credit loss (54) Total RMLs, net of valuation allowance $ 2,798 (a) The individual concentration of each state is less than 5% as of December 31, 2023. RMLs have a primary credit quality indicator of either a performing or non-performing loan. We define non-performing residential mortgage loans as those that are 90 or more days past due or in non-accrual status, which is assessed monthly. The credit quality of RMLs as of September 30, 2024 and December 31, 2023, was as follows (dollars in millions): September 30, 2024 December 31, 2023 Performance indicators: Amortized Cost % of Total Amortized Cost % of Total Performing $ 3,031 98 % $ 2,795 98 % Non-performing 74 2 57 2 Total RMLs, gross of valuation allowance 3,105 100 % 2,852 100 % Allowance for expected loan loss (51) (54) Total RMLs, net of valuation allowance $ 3,054 $ 2,798 There were no charge offs recorded by RMLs during the nine months ended September 30, 2024 or during the year ended December 31, 2023. RMLs segregated by aging of the loans (by year of origination) as of September 30, 2024 and December 31, 2023, were as follows, gross of valuation allowances (in millions): September 30, 2024 Amortized Cost by Origination Year 2024 2023 2022 2021 2020 Prior Total Current (less than 30 days past due) $ 387 $ 372 $ 928 $ 822 $ 168 $ 317 $ 2,994 30-89 days past due 6 3 9 8 4 7 37 90 days or more past due — 2 9 28 10 25 74 Total RML mortgages $ 393 $ 377 $ 946 $ 858 $ 182 $ 349 $ 3,105 December 31, 2023 Amortized Cost by Origination Year 2023 2022 2021 2020 2019 Prior Total Current (less than 30 days past due) $ 373 $ 985 $ 854 $ 192 $ 183 $ 192 $ 2,779 30-89 days past due — 4 7 3 — 2 16 90 days or more past due — 6 16 13 21 1 57 Total RML mortgages $ 373 $ 995 $ 877 $ 208 $ 204 $ 195 $ 2,852 Non-accrual loans by amortized cost as of September 30, 2024 and December 31, 2023, were as follows (in millions): Amortized cost of loans on non-accrual September 30, 2024 December 31, 2023 Residential mortgage: $ 74 $ 57 Commercial mortgage: — — Total non-accrual mortgages $ 74 $ 57 Immaterial interest income was recognized on non-accrual financing receivables for the three and nine months ended September 30, 2024 and September 30, 2023. It is our policy to cease to accrue interest on loans that are delinquent for 90 days or more. For loans less than 90 days delinquent, interest is accrued unless it is determined that the accrued interest is not collectible. If a loan becomes 90 days or more delinquent, it is our general policy to initiate foreclosure proceedings unless a workout arrangement to bring the loan current is in place. As of September 30, 2024 and December 31, 2023, we had $74 million and $57 million respectively, of mortgage loans that were over 90 days past due. As of September 30, 2024 and December 31, 2023, we had $73 million and $41 million, respectively, of residential mortgage loans that were in the process of foreclosure. Loan Modifications Under certain circumstances, modifications are granted to mortgage loans. Generally, the types of concessions may include interest rate reduction, term extension, payment deferrals, principal forgiveness or a combination of these concessions. We had an immaterial amount of mortgage loans modified during the three and nine month periods ended September 30, 2024 and 2023. Allowance for Expected Credit Loss We estimate expected credit losses for our commercial and residential mortgage loan portfolios using a probability of default/loss given default model. Significant inputs to this model include, where applicable, the loans' current performance, underlying collateral type, location, contractual life, LTV, DSC and Debt to Income or FICO. The model projects losses using a two-year reasonable and supportable forecast and then reverts over a three-year period to market-wide historical loss experience. Changes in our allowance for expected credit losses on mortgage loans are recognized in Recognized gains and (losses), net in the accompanying unaudited Condensed Consolidated Statements of Operations. The allowances for our mortgage loan portfolio are summarized as follows (in millions): Three months ended September 30, 2024 Nine months ended September 30, 2024 Residential Mortgage Commercial Mortgage Total Residential Mortgage Commercial Mortgage Total Beginning Balance $ (50) $ (14) $ (64) $ (54) $ (12) $ (66) Provision (expense) benefit for loan losses (1) (4) (5) 3 (6) (3) Ending Balance $ (51) $ (18) $ (69) $ (51) $ (18) $ (69) Three months ended September 30, 2023 Nine months ended September 30, 2023 Residential Mortgage Commercial Mortgage Total Residential Mortgage Commercial Mortgage Total Beginning Balance $ (51) $ (13) $ (64) $ (32) $ (10) $ (42) Provision (expense) benefit for loan losses 2 (2) — (17) (5) (22) Ending Balance $ (49) $ (15) $ (64) $ (49) $ (15) $ (64) An allowance for expected credit loss is not measured on accrued interest income for commercial mortgage loans as we have a process to write-off interest on loans that enter into non-accrual status (90 days or more past due). Allowances for expected credit losses are measured on accrued interest income for residential mortgage loans and were immaterial for the three and nine months ended September 30, 2024 and September 30, 2023. Interest and Investment Income The major sources of Interest and investment income reported on the accompanying unaudited Condensed Consolidated Statements of Operations were as follows (in millions): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Fixed maturity securities, available-for-sale $ 562 $ 476 $ 1,620 $ 1,356 Equity securities 5 5 16 14 Preferred securities 5 9 18 31 Mortgage loans 69 59 200 167 Invested cash and short-term investments 53 19 115 52 Limited partnerships 83 68 234 169 Other investments 9 5 25 19 Gross investment income 786 641 2,228 1,808 Investment expense (74) (63) (216) (186) Interest and investment income $ 712 $ 578 $ 2,012 $ 1,622 Interest and investment income is shown net of amounts attributable to certain funds withheld reinsurance agreements which is passed along to the reinsurer in accordance with the terms of these agreements. Interest and investment income attributable to these agreements, and thus excluded from the totals in the table above, was $181 million and $463 million for the three and nine months ended September 30, 2024, respectively, and $102 million and $236 million for the three and nine months ended September 30, 2023, respectively. Recognized Gains and (Losses), Net Details underlying Recognized gains and (losses), net reported on the accompanying unaudited Condensed Consolidated Statements of Operations were as follows (in millions): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Net realized gains (losses) on fixed maturity available-for-sale securities $ (2) $ (32) $ 2 $ (128) Net realized/unrealized gains on equity securities (a) 3 7 11 15 Net realized/unrealized gains (losses) on preferred securities (b) 9 2 17 (2) Net realized/unrealized gains on other invested assets 4 12 69 27 Change in allowance for expected credit losses (10) (4) (33) (33) Derivatives and embedded derivatives: Realized gains (losses) on certain derivative instruments 30 (30) 65 (184) Unrealized gains (losses) on certain derivative instruments 347 (297) 450 14 Change in fair value of reinsurance related embedded derivatives (c) (178) 36 (186) 34 Change in fair value of other derivatives and embedded derivatives 3 (3) 6 — Realized gains (losses) on derivatives and embedded derivatives 202 (294) 335 (136) Recognized gains and (losses), net $ 206 $ (309) $ 401 $ (257) (a) Includes net valuation gains of $4 million and $7 million for the three months ended September 30, 2024 and September 30, 2023, respectively, and net valuation gains of $12 million and $15 million for the nine months ended September 30, 2024 and September 30, 2023, respectively. (b) Includes net valuation gains of $9 million and $3 million for the three months ended September 30, 2024 and September 30, 2023, respectively, and net valuation gains of $17 million and $47 million for the nine months ended September 30, 2024 and September 30, 2023, respectively. (c) Change in fair value of reinsurance related embedded derivatives is due to activity related to reinsurance treaties. Recognized gains and (losses), net is shown net of amounts attributable to certain funds withheld reinsurance agreements which are passed along to the reinsurer in accordance with the terms of these agreements. Recognized gains and (losses) attributable to these agreements, and thus excluded from the totals in the table above, were $(177) million and $(186) million for the three and nine months ended September 30, 2024, respectively, and $43 million and $42 million for the three and nine months ended September 30, 2023. The proceeds from the sale of fixed-maturity securities and the gross gains and losses associated with those transactions were as follows (in millions): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Proceeds $ 1,471 $ 868 $ 2,626 $ 1,921 Gross gains 18 2 36 7 Gross losses (20) (27) (52) (106) Unconsolidated Variable Interest Entities We own investments in variable interest entities (“VIEs”) that are not consolidated within our financial statements. A VIE is an entity that does not have sufficient equity to finance its own activities without additional financial support, where investors lack certain characteristics of a controlling financial interest, or where the entity is structured with non-substantive voting rights. VIEs are consolidated by their ‘primary beneficiary,’ a designation given to an entity that receives both the benefits from the VIE as well as the substantive power to make its key economic decisions. While we participate in the benefits from VIEs in which we invest, but do not consolidate, the substantive power to make the key economic decisions for each respective VIE resides with entities not under our common control. It is for this reason that we are not considered the primary beneficiary for the VIE investments that are not consolidated. We invest in various limited partnerships and limited liability companies primarily as a passive investor. These investments are primarily in credit funds with a bias towards current income, real assets, or private equity. Limited partnership and limited liability company interests are accounted for under the equity method and are included in Investments in unconsolidated affiliates on our unaudited Condensed Consolidated Balance Sheets. In addition, we invest in structured investments, which may be VIEs, but for which we are not the primary beneficiary. These structured investments typically invest in fixed income investments and are managed by third parties and include asset-backed securities, commercial mortgage-backed securities and residential mortgage-backed securities included in fixed maturity securities available for sale on our unaudited Condensed Consolidated Balance Sheets. Our maximum loss exposure with respect to these VIEs is limited to the investment carrying amounts reported in our unaudited Condensed Consolidated Balance Sheets for limited partnerships and the amortized costs of our fixed maturity securities, in addition to any required unfunded commitments (also refer to Note N - Commitments and Contingencies ). The following table summarizes the carrying value and the maximum loss exposure of our unconsolidated VIEs as of September 30, 2024 and December 31, 2023 (in millions): September 30, 2024 December 31, 2023 Carrying Value Maximum Loss Exposure Carrying Value Maximum Loss Exposure Investment in unconsolidated affiliates $ 3,666 $ 4,814 $ 3,071 $ 4,806 Fixed maturity securities 23,343 24,120 20,837 22,346 Total unconsolidated VIE investments $ 27,009 $ 28,934 $ 23,908 $ 27,152 Concentrations Our underlying investment concentrations that exceed 10% of shareholders equity are as follows (in millions): September 30, 2024 December 31, 2023 Blackstone Wave Asset Holdco (a) $ 716 $ 725 Blackstone Cooper Asset Holdco (a) 522 — Elba (b) (c) — 463 COLI (c) — 324 (a) Represents a special purpose vehicle that holds investments in numerous limited partnership investments whose underlying investments are further diversified by holding interest in multiple individual investments and industries. (b) Represents special purpose vehicles that ho

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments The carrying amounts of derivative instruments, including derivative instruments embedded in indexed annuities and IUL contracts, and reinsurance is as follows (in millions): September 30, 2024 December 31, 2023 Assets: Derivative investments: Equity options $ 1,293 $ 739 Interest rate swaps 108 57 Other derivative investments — 1 Other long-term investments: Other embedded derivatives 34 28 Prepaid expenses and other assets: Reinsurance related embedded derivatives — 152 Total $ 1,435 $ 977 Liabilities: Contractholder funds: Indexed annuities/ IUL embedded derivatives $ 5,411 $ 4,258 Accounts payable and accrued liabilities: Reinsurance related embedded derivatives 34 — Total $ 5,445 $ 4,258 The change in fair value of derivative instruments included within Recognized gains and (losses), net in the accompanying unaudited Condensed Consolidated Statements of Operations is as follows (in millions): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Net investment gains (losses): Equity options $ 260 $ (308) $ 487 $ (155) Interest rate swaps 114 (19) 9 (19) Futures contracts 7 (4) 18 1 Other derivative investments (4) 4 1 3 Other embedded derivatives 3 (3) 6 — Reinsurance related embedded derivatives (178) 36 (186) 34 Total net investment gains $ 202 $ (294) $ 335 $ (136) Benefits and other changes in policy reserves: Indexed annuities/ IUL embedded derivatives increase $ 563 $ (265) $ 1,153 $ 441 Additional Disclosures See descriptions of the fair value methodologies used for derivative financial instruments in Note B - Fair Value of Financial Instruments . Indexed Annuities/IUL Embedded Derivative, Equity Options and Futures We have indexed annuities and IUL contracts that permit the holder to elect an interest rate return or an equity index linked component, where interest credited to the contracts is linked to the performance of various equity indices, for example the S&P 500 Index. This feature represents an embedded derivative under GAAP. The indexed annuities/IUL embedded derivatives are valued at fair value and included in the liability for contractholder funds in the accompanying unaudited Condensed Consolidated Balance Sheets with changes in fair value included as a component of Benefits and other changes in policy reserves in the unaudited Condensed Consolidated Statements of Operations. We purchase derivatives consisting of a combination of equity options and futures contracts (specifically for indexed annuity contracts) on the applicable market indices to fund the index credits due to indexed annuity/IUL contractholders. The equity options are one two three five six Other market exposures are hedged periodically depending on market conditions and our risk tolerance. Our indexed annuities/IUL hedging strategy economically hedges the equity returns and exposes us to the risk that unhedged market exposures result in divergence between changes in the fair value of the liabilities and the hedging assets. We use a variety of techniques, including direct estimation of market sensitivities, to monitor this risk daily. We intend to continue to adjust the hedging strategy as market conditions and our risk tolerance changes. Interest Rate Swaps We utilize interest rate swaps to reduce market risks from interest rate changes on our earnings associated with our floating rate investments. With an interest rate swap, we agree with another party to exchange the difference between fixed-rate and floating-rate interest amounts tied to an agreed upon notional principal at specified intervals. The interest rate swaps are marked to fair value with the change in fair value, including accrued interest and related periodic cash flows received or paid, included as a component of Recognized gains and (losses), net, in the accompanying unaudited Condensed Consolidated Statements of Operations. Reinsurance Related Embedded Derivatives F&G cedes certain business on a coinsurance funds withheld basis. Investment results for the assets that support the coinsurances that are segregated within the funds withheld account are passed directly to the reinsurer pursuant to the contractual terms of the reinsurance agreement, which creates embedded derivatives considered to be total return swaps. These total return swaps are not clearly and closely related to the underlying reinsurance contract and thus require bifurcation. The fair value of the total return swaps is based on the change in fair value of the underlying assets held in the funds withheld account. These embedded derivatives are reported in Prepaid expenses and other assets if in a net gain position, or Accounts payable and accrued liabilities, if in a net loss position on the unaudited Condensed Consolidated Balance Sheets and the related gains or losses are reported in Recognized gains and (losses), net, on the unaudited Condensed Consolidated Statements of Operations. Credit Risk We are exposed to credit loss in the event of non-performance by our counterparties and reflect assumptions regarding this non-performance risk in the fair value of our derivatives. The non-performance risk is the net counterparty exposure based on the fair value of the open contracts less collateral held. We maintain a policy of requiring all derivative contracts to be governed by an International Swaps and Derivatives Association (“ISDA”) Master Agreement. We manage credit risk related to non-performance by our counterparties by (i) entering into derivative transactions with creditworthy counterparties; (ii) obtaining collateral, such as cash and securities when appropriate; (iii) establishing counterparty exposure limits, which are subject to periodic management review. Information regarding our exposure to credit loss on the derivative instruments we hold, excluding futures contracts, is presented below (in millions): Notional Amount Fair Value Collateral Net Credit Risk September 30, 2024 $ 35,435 $ 1,393 $ 1,348 $ 53 December 31, 2023 29,968 796 775 39 Collateral Agreements We are required to maintain minimum ratings as a matter of routine practice as part of our over-the-counter derivative agreements on ISDA forms. Under some ISDA agreements, we have agreed to maintain certain financial strength ratings. A downgrade below these levels provides the counterparty under the agreement the right to terminate the open derivative contracts between the parties, at which time any amounts payable by us or the counterparty would be dependent on the market value of the underlying contracts. Our current rating does not allow any counterparty the right to terminate ISDA agreements. In certain transactions, both us and the counterparty have entered into a collateral support agreement requiring either party to post collateral when the net exposures exceed pre-determined thresholds. For all counterparties, except one, the threshold is set to zero. As of September 30, 2024 and December 31, 2023 counterparties posted collateral of $1,348 million and $775 million, respectively, of which $1,133 million and $588 million, respectively, is included in Cash and cash equivalents with an associated payable for this collateral included in Accounts payable and accrued liabilities on the unaudited Condensed Consolidated Balance Sheets. Accordingly, the maximum amount of loss due to credit risk that we would incur if parties to the derivatives failed completely to perform according to the terms of the contracts was $53 million at September 30, 2024 and $39 million at December 31, 2023. We are required to pay our counterparties the effective federal funds interest rate each day for cash collateral posted to us. Cash collateral is reinvested in overnight investment sweep products, which are included in Cash and cash equivalents in the accompanying unaudited Condensed Consolidated Balance Sheets, to reduce the interest cost. We held 392 and 439 futures contracts at September 30, 2024 and December 31, 2023, respectively. The fair value of the futures contracts represents the cumulative unsettled variation margin (open trade equity, net of cash settlements). We provide cash collateral to the counterparties for the initial and variation margin on the futures contracts, which is included in Cash and cash equivalents in the accompanying unaudited Condensed Consolidated Balance Sheets. The amount of cash collateral held by the counterparties for such contracts was $5 million and $4 million

Reinsurance

Reinsurance	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
Reinsurance	Reinsurance F&G reinsures portions of its policy risks with other insurance companies. The use of indemnity reinsurance does not discharge an insurer from liability on the insurance ceded. The insurer is required to pay in full the amount of its insurance liability regardless of whether it is entitled to or able to receive payment from the reinsurer. The portion of risks exceeding F&G's retention limit is reinsured. F&G primarily seeks reinsurance coverage in order to manage loss exposures, to enhance our capital position, to diversify risks and earnings, and to manage new business volume. F&G follows reinsurance accounting when the treaty adequately transfers insurance risk and any acquisition cost reimbursements reduce policy acquisition costs deferred and maintenance expense reimbursements reduce direct expenses incurred. Otherwise, F&G follows deposit accounting if there is inadequate transfer of insurance risk or if the underlying policy for which risk is being transferred is an investment contract that does not contain insurance risk. The effects of reinsurance on net premiums earned and net benefits incurred (benefits paid and reserve changes) for the three and nine months ended September 30, 2024 and September 30, 2023 were as follows (in millions): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Direct $ 363 $ 1,127 $ 508 $ 323 $ 1,340 $ 2,999 $ 1,319 $ 2,057 Ceded (23) (32) (26) (31) (71) (135) (79) (136) Net $ 340 $ 1,095 $ 482 $ 292 $ 1,269 $ 2,864 $ 1,240 $ 1,921 Amounts payable or recoverable for reinsurance on paid and unpaid claims are not subject to periodic or maximum limits. No policies issued by F&G have been reinsured with any foreign company, which is controlled, either directly or indirectly, by a party not primarily engaged in the business of insurance. F&G has not entered into any reinsurance agreements in which the reinsurer may unilaterally cancel any reinsurance for reasons other than non-payment of premiums or other similar credit issues. Reinsurance Transactions The following summarizes significant changes to a third-party reinsurance agreement for the period ended September 30, 2024: Somerset: Effective July 1, 2024, F&G amended the existing flow reinsurance agreement with Somerset Reinsurance Ltd. (“Somerset”), a third-party reinsurer, to additionally cede the base contract benefits and GMWB riders attached under certain FIA policies on a coinsurance funds withheld quota share basis. There have been no other significant changes to third party reinsurance agreements for the three and nine months ended September 30, 2024. The following summarizes our reinsurance recoverable (in millions) as of September 30, 2024 and December 31, 2023: Parent Company/ Reinsurance Recoverable (a) Agreement Type Products Accounting September 30, 2024 December 31, 2023 Aspida Life Re Ltd $ 7,543 $ 6,128 Coinsurance Funds Withheld Certain MYGA (b) Deposit Somerset Reinsurance Ltd (c) 2,181 716 Coinsurance Funds Withheld Certain MYGA (b) and deferred annuities Deposit Coinsurance Funds Withheld Certain FIA Reinsurance Everlake Life Insurance Company 1,120 509 Coinsurance (d) Certain MYGA (b) (d) Deposit Wilton Reassurance Company 1,073 1,092 Coinsurance Block of traditional, IUL and UL (e) Reinsurance Other (f) 508 536 Reinsurance recoverable, gross of allowance for credit losses 12,425 8,981 Allowance for expected credit loss (21) (21) Reinsurance recoverable, net of allowance for credit losses $ 12,404 $ 8,960 (a) Reinsurance recoverables do not include unearned ceded premiums that would be recovered in the event of early termination of certain traditional life policies. (b) The combined quota share flow reinsurance amongst all reinsurers for 2024 was 90% through May 31, 2024, decreased to 30% in June and July 2024, and increased to 90% in August and September 2024. As of December 31, 2023, the combined quota share flow reinsurance amongst all reinsurers was 90%. (c) The balance represents the total reinsurance recoverable for all reinsurance agreements with Somerset. (d) Reinsurance recoverable is collateralized by assets placed in a statutory comfort trust by the reinsurer and maintained for our sole benefit. (e) Also includes certain FGL Insurance life insurance policies that are subject to redundant reserves, reported on a statutory basis, under Regulation XXX and Guideline AXXX. (f) Represents all other reinsurers, with no single reinsurer having a carrying value in excess of 5% of total reinsurance recoverable. As of September 30, 2024, and December 31, 2023, F&G had a deposit asset of $10.5 billion and $7.5 billion, respectively, which is reported in the Reinsurance recoverable, net of allowance for credit losses on the unaudited Condensed Consolidated Balance Sheet. F&G incurred risk charge fees of $10 million and $10 million during the three months ended September 30, 2024 and 2023, respectively, and $32 million and $30 million during the nine months ended September 30, 2024, and 2023, respectively, in relation to reinsurance agreements. Credit Losses F&G estimates expected credit losses on reinsurance recoverables using a probability of default/loss given default model. Significant inputs to the model include the reinsurer's credit risk, expected timing of recovery, industry-wide historical default experience, senior unsecured bond recovery rates, and credit enhancement features. The expected credit loss reserves were as follows (in millions): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Balance at beginning of period $ (21) $ (9) $ (21) $ (10) Changes in the expected credit loss reserve — (1) — — Balance at end of period $ (21) $ (10) $ (21) $ (10) Concentration of Reinsurance Risk As indicated above, F&G has a significant concentration of reinsurance risk with third party reinsurers, ASPIDA Life Re Ltd. (“Aspida Re”), Somerset, Everlake Life Insurance Company (“Everlake”), and Wilton Reinsurance (“Wilton Re”) that could have a material impact on our financial position in the event that any of these reinsurers fails to perform its obligations under the various reinsurance treaties. We monitor the financial condition and financial strength of individual reinsurers using public ratings (refer to table below) and ratings reports of individual reinsurers to attempt to reduce the risk of default by such reinsurers. In addition, the risk of non-performance is further mitigated with various forms of collateral or collateral arrangements, including secured trusts, funds withheld accounts and irrevocable letters of credit. We believe that all amounts due from Aspida Re, Somerset, Everlake, and Wilton Re for periodic treaty settlements, net of any applicable credit loss reserves, are collectible as of September 30, 2024. The following table presents financial strength ratings as of September 30, 2024: Parent Company/Principal Reinsurers Financial Strength Rating AM Best S&P Fitch Moody's Aspida Re A- — — — Somerset A- BBB+ — — Everlake A — — — Wilton Re A+ — A —

Intangibles

Intangibles	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles	Intangibles The following table reconciles to Other intangible assets, net, on the unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (in millions): September 30, 2024 December 31, 2023 Value of business acquired (“VOBA”) $ 1,389 $ 1,446 Deferred acquisition costs (“DAC”) 2,857 2,215 Deferred sales inducements (“DSI”) 538 346 Value of distribution asset 76 86 Computer software 73 65 Definite lived trademarks, tradenames, and other 125 41 Indefinite lived tradenames and other 8 8 Customer relationships 283 — Total Other intangible assets, net $ 5,349 $ 4,207 The following tables roll forward VOBA by product for the nine months ended September 30, 2024 and September 30, 2023 (in millions): Indexed Annuities Fixed Rate Annuities Immediate Annuities Universal Life Traditional Life Total Balance at January 1, 2024 $ 1,025 $ 27 $ 191 $ 134 $ 69 $ 1,446 Amortization (101) (4) (5) (5) (5) (120) Actuarial model updates and refinements (a) — — — — 63 63 Balance at September 30, 2024 $ 924 $ 23 $ 186 $ 129 $ 127 $ 1,389 (a) net of amortization of ($15 million). Indexed Annuities Fixed Rate Annuities Immediate Annuities Universal Life Traditional Life Total Balance at January 1, 2023 $ 1,166 $ 32 $ 201 $ 143 $ 73 $ 1,615 Amortization (106) (4) (8) (7) (3) (128) Balance at September 30, 2023 $ 1,060 $ 28 $ 193 $ 136 $ 70 $ 1,487 VOBA amortization expense of $135 million and $128 million was recorded in Depreciation and amortization on the unaudited Condensed Consolidated Statements of Operations for the nine months ended September 30, 2024 and September 30, 2023, respectively. The following tables roll forward DAC by product for the nine months ended September 30, 2024 and September 30, 2023 (in millions): Indexed Annuities Fixed Rate Annuities Universal Life Total (a) Balance at January 1, 2024 $ 1,378 $ 288 $ 545 $ 2,211 Capitalization 496 147 199 842 Amortization (112) (61) (27) (200) Balance at September 30, 2024 $ 1,762 $ 374 $ 717 $ 2,853 Indexed Annuities Fixed Rate Annuities Universal Life Total (a) Balance at January 1, 2023 $ 971 $ 83 $ 348 $ 1,402 Capitalization 371 119 167 657 Amortization (75) (35) (25) (135) Reinsurance related adjustments — 79 — 79 Balance at September 30, 2023 $ 1,267 $ 246 $ 490 $ 2,003 (a) Excludes insignificant amounts of DAC related to Funding Agreement Backed Note (“FABN”). DAC amortization expense of $200 million and $135 million was recorded in Depreciation and amortization on the unaudited Condensed Consolidated Statements of Operations for the nine months ended September 30, 2024 and September 30, 2023, respectively, excluding insignificant amounts related to FABN. The following table presents a reconciliation of DAC to the table above which is reconciled to the unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (in millions): September 30, 2024 December 31, 2023 Indexed Annuities $ 1,762 $ 1,378 Fixed Rate Annuities 374 288 Universal Life 717 545 Funding Agreements 4 4 Total $ 2,857 $ 2,215 The following table rolls forward DSI for our indexed annuity products for the nine months ended September 30, 2024 and September 30, 2023 (in millions): Nine Months Ended September 30, 2024 2023 Balance at January 1, $ 346 $ 200 Capitalization 219 112 Amortization (27) (15) Balance at September 30, $ 538 $ 297 DSI amortization expense of $27 million and $15 million was recorded in Depreciation and amortization on the unaudited Condensed Consolidated Statements of Operations for the nine months ended September 30, 2024 and September 30, 2023, respectively. The cash flow assumptions used to amortize VOBA and DAC were consistent with the assumptions used to estimate the future policy benefits (“FPB”) for life contingent immediate annuities, and will be reviewed and unlocked, if applicable, in the same period as those balances. For nonparticipating traditional life contracts, the VOBA amortization is straight-line, without the use of cash flow assumptions. For indexed annuity contracts, the cash flow assumptions used to amortize VOBA, DAC, and DSI were consistent with the assumptions used to estimate the value of the embedded derivative and MRBs, and will be reviewed and unlocked, if applicable, in the same period as those balances. For fixed rate annuities and IUL the cash flow assumptions used to amortize VOBA, DAC and DSI reflect the Company’s best estimates for policyholder behavior, consistent with the development of assumptions for indexed annuities and immediate annuities. We review cash flow assumptions annually, generally in the third quarter. In 2024 and 2023, F&G undertook a review of all significant assumptions and revised several assumptions relating to our deferred annuity (indexed annuity and fixed rate annuity) and IUL products. For the nine months ended September 30, 2024, we updated assumptions including surrender rates, GMWB election timing, premium persistency, and option budgets. For the nine months ended September 30, 2023, we updated assumptions including surrender rates, partial withdrawal rates, mortality improvement, and option budgets. All updates to these assumptions brought us more in line with our Company and overall industry experience since the prior assumption update. The following table rolls forward the customer relationship intangibles acquired in the Roar acquisition on January 2, 2024, and the PALH acquisition on July 18, 2024, (in millions). For more information, refer to Note P - Acquisitions. Nine Months Ended September 30, 2024 Balance at January 1, $ — Acquired 310 Amortization (27) Balance at September 30, $ 283 The customer relationship intangibles acquired in the Roar and PALH acquisitions are being amortized over an estimated useful life of 12 years and 20 years, respectively, using an accelerated method, which takes into consideration expected customer attrition rates. The following table shows the estimated amortization expense in future fiscal periods for customer relationship intangibles and VOBA for the in-force liabilities as of September 30, 2024 (in millions): Customer Relationship Intangibles VOBA Fiscal Year 2024 $ 10 $ 38 2025 35 143 2026 30 130 2027 26 119 2028 23 108 Thereafter 159 851 Total $ 283 $ 1,389

Market Risk Benefits

Market Risk Benefits	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
Market Risk Benefits	Market Risk Benefits The following table presents the balances of and changes in MRBs associated with indexed annuities and fixed rate annuities for the nine months ended September 30, 2024 and the year ended December 31, 2023 (in millions): September 30, 2024 December 31, 2023 Indexed Fixed rate Indexed Fixed rate Balance, beginning of period, net liability $ 314 $ 1 $ 164 $ 1 Balance, beginning of period, before effect of changes in the instrument-specific credit risk $ 209 $ 1 $ 102 $ 1 Issuances and benefit payments 78 — (10) — Attributed fees collected and interest accrual 103 — 131 — Actual policyholder behavior different from expected 8 — 27 — Changes in assumptions and other 32 — 29 — Effects of market related movements (31) — (70) — Balance, end of period, before effect of changes in the instrument-specific credit risk 399 1 209 1 Effect of changes in the instrument-specific credit risk 112 — 105 — Balance, end of period, net liability 511 1 314 1 Less: reinsured market risk benefits 43 — — — Balance, end of period, net of reinsurance $ 468 $ 1 $ 314 $ 1 Weighted-average attained age of policyholders weighted by total AV (years) 68.04 72.47 68.28 72.59 Net amount at risk $ 1,390 $ 2 $ 1,059 $ 2 The following table reconciles MRBs by amounts in an asset position and amounts in a liability position to the MRBs amounts in the unaudited Condensed Consolidated Balance Sheets (in millions): September 30, 2024 December 31, 2023 Direct Reinsured Net Direct Reinsured Net MRB asset Indexed annuities $ 91 $ 43 $ 134 $ 88 $ — $ 88 Fixed rate annuities — — — — — — Total MRB asset $ 91 $ 43 $ 134 $ 88 $ — $ 88 MRB liability Indexed annuities $ 602 $ — $ 602 $ 402 $ — $ 402 Fixed rate annuities 1 — 1 1 — 1 Total MRB liability $ 603 $ — $ 603 $ 403 $ — $ 403 The net MRB liability increased for the nine months ended September 30, 2024, primarily as a result of collection of attributed fees, interest accrual, MRB reserves for contracts issued within the period, and changes in actuarial assumptions. These increases were partially offset by the effects of market related movements, including the impacts of higher risk-free rates and increases in the equity market related projections. For the nine months ended September 30, 2024, notable changes made to the inputs to the fair value estimates of MRBs calculations included an increase in risk-free rates leading to a favorable change in the MRBs associated with indexed annuities and fixed rate annuities; increases in the equity market related projections resulted in a decrease in the net amount at risk associated with indexed annuities, leading to a favorable change in the value of the associated MRBs; and an increase in the rider benefit utilization assumption, leading to an unfavorable change in the value of the associated MRBs. The net MRB liability increased for the year ended December 31, 2023, primarily as a result of attributed fees collected, increases as a result of actual policyholder behavior different than expected and changes in assumptions as discussed below. These increases were partially offset by the effects of market related movements, including the impacts of higher risk-free rates and increases in the equity market related projections. For the year ended December 31, 2023, notable changes made to the inputs to the fair value estimates of MRBs calculations included a significant increase in risk-free rates leading to a favorable change in the MRBs associated with indexed annuities and fixed rate annuities; increases in the equity market related projections resulted in a decrease in the net amount at risk associated with indexed annuities, leading to a favorable change in the value of the associated MRBs; and F&G’s credit spread decreased, lead to a corresponding unfavorable change in the MRBs associated with both indexed annuities and fixed rate annuities. In 2024 and 2023, F&G undertook a review of all significant assumptions and revised several assumptions relating to our deferred annuities (indexed annuities and fixed rate annuities) with MRBs. For the nine months ended September 30, 2024, we updated assumptions including surrender rates, rider benefit election utilization and option budgets. For the year ended December 31, 2023,we updated assumptions including surrender rates, partial withdrawal rates, mortality improvement, and option budgets. All updates to these assumptions brought us more in line with our Company and overall industry experience since the prior assumption updates. These updates, in total, led to increases in the net MRB liability for the nine months ended September 30, 2024 and for the year ended December 31, 2023. The following tables summarize balances of and changes in contractholder funds’ account balances (in millions): September 30, 2024 Indexed annuities Fixed rate annuities Universal Life FABN (b) FHLB (b) Balance, beginning of year $ 27,164 $ 13,443 $ 2,391 $ 2,613 $ 2,539 Issuances 4,829 4,476 157 599 1,803 Premiums received 85 1 361 — — Policy charges (a) (140) — (231) — — Surrenders and withdrawals (2,807) (1,184) (75) — — Benefit payments (368) (233) (13) (791) (1,576) Interest credited 488 476 108 51 89 Other 5 — — (1) (2) Balance, end of period 29,256 16,979 2,698 2,471 2,853 Embedded derivative adjustment (c) 790 — 119 — — Gross Liability, end of period 30,046 16,979 2,817 2,471 2,853 Less: Reinsurance 410 10,471 883 — — Net Liability, after Reinsurance $ 29,636 $ 6,508 $ 1,934 $ 2,471 $ 2,853 Weighted-average crediting rate 2.33 % 4.26 % 5.84 % N/A N/A Net amount at risk (d) N/A N/A $ 70,859 N/A N/A Cash surrender value (e) $ 26,985 $ 15,815 $ 2,088 N/A N/A (a) Contracts included in the contractholder funds are generally charged a premium and/or monthly assessments on the basis of the account balance. (b) FABN and FHLB are considered funding agreements that are investment contracts which follow the interest method of accounting, and therefore are not subject to ASU 2018-12 disclosure requirements. However, the Company has elected to present the liability for these agreements within the disaggregated roll forward as we believe it will provide meaningful information for users of the financials. (c) The embedded derivative adjustment reconciles the account balance to the gross GAAP liability and represents the combination of the host contract and the fair value of the embedded derivatives. (d) For those guarantees of benefits that are payable in the event of death, the net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date. (e) These amounts are gross of reinsurance. December 31, 2023 Indexed annuities Fixed rate annuities Universal Life FABN (b) FHLB (b) Balance, beginning of year $ 24,766 $ 9,358 $ 2,112 $ 2,613 $ 1,982 Issuances 4,722 5,061 199 — 1,256 Premiums received 103 1 382 — — Policy charges (a) (182) — (261) — — Surrenders and withdrawals (2,005) (1,142) (90) — — Benefit payments (526) (240) (27) (53) (763) Interest credited 270 405 76 54 64 Other 16 — — (1) — Balance, end of period 27,164 13,443 2,391 2,613 2,539 Embedded derivative adjustment (c) 243 — 84 — — Gross Liability, end of period 27,407 13,443 2,475 2,613 2,539 Less: Reinsurance 17 7,520 894 — — Net Liability, after Reinsurance $ 27,390 $ 5,923 $ 1,581 $ 2,613 $ 2,539 Weighted-average crediting rate 1.40 % 4.85 % 3.44 % N/A N/A Net amount at risk (d) N/A N/A $ 60,389 N/A N/A Cash surrender value (e) $ 25,099 $ 12,505 $ 1,872 N/A N/A (a) Contracts included in the contractholder funds are generally charged a premium and/or monthly assessments on the basis of the account balance. (b) FABN and FHLB are considered funding agreements that are investment contracts which follow the interest method of accounting, and therefore are not subject to ASU 2018-12 disclosure requirements. However, the Company has elected to present the liability for these agreements within the disaggregated roll forward as we believe it will provide meaningful information for users of the financials. (c) The embedded derivative adjustment reconciles the account balance to the gross GAAP liability and represents the combination of the host contract and the fair value of the embedded derivatives. (d) For those guarantees of benefits that are payable in the event of death, the net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date. (e) These amounts are gross of reinsurance. The following table reconciles contractholder funds’ account balances to the contractholder funds liability in the unaudited Condensed Consolidated Balance Sheets (in millions): September 30, 2024 December 31, 2023 Indexed annuities $ 30,046 $ 27,407 Fixed rate annuities 16,979 13,443 Immediate annuities 292 311 Universal life 2,817 2,475 Traditional life 5 5 Funding Agreement-FABN 2,471 2,613 FHLB 2,853 2,539 PRT 5 5 Total $ 55,468 $ 48,798 Annually, typically in the third quarter, we review assumptions associated with reserves for policy benefits and product guarantees. For the nine months ended September 30, 2024, based on policyholder behavior, experience and interest rate movements, we reflected updates to surrender assumptions for recent and expected near term policyholder behavior, as well as updated certain FIA assumptions used to calculate the fair value of the embedded derivative component within contractholder funds. These changes resulted in a decrease in total benefits and other changes in policy reserves of approximately $79 million for the nine months ended September 30, 2024. For the year ended December 31, 2023, based on increases in interest rates and pricing changes, we updated certain FIA assumptions used to calculate the fair value of the embedded derivative component within contractholder funds and also aligned reserves to actual policyholder behavior. These changes resulted in an increase in total benefits and other changes in policy reserves of approximately $73 million for the year ended December 31, 2023. The following tables present the account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimums (in millions): September 30, 2024 Range of guaranteed minimum crediting rate At Guaranteed Minimum 1 Basis Point-50 Basis Points Above 51 Basis Points-150 Basis Points Above Greater Than 150 Basis Points Above Total Indexed Annuities 0.00%-1.50% $ 23,095 $ 1,285 $ 502 $ 1,847 $ 26,729 1.51%-2.50% 700 1 460 1,046 2,207 Greater than 2.50% 317 2 — 1 320 Total $ 24,112 $ 1,288 $ 962 $ 2,894 $ 29,256 Fixed Rate Annuities 0.00%-1.50% $ 46 $ 21 $ 925 $ 13,855 $ 14,847 1.51%-2.50% 4 7 20 460 491 Greater than 2.50% 826 2 3 810 1,641 Total $ 876 $ 30 $ 948 $ 15,125 $ 16,979 Universal Life 0.00%-1.50% $ 2,303 $ 6 $ — $ 22 $ 2,331 1.51%-2.50% — — — — — Greater than 2.50% 366 — 1 — 367 Total $ 2,669 $ 6 $ 1 $ 22 $ 2,698 December 31, 2023 Range of guaranteed minimum crediting rate At Guaranteed Minimum 1 Basis Point-50 Basis Points Above 51 Basis Points-150 Basis Points Above Greater Than 150 Basis Points Above Total Indexed Annuities 0.00%-1.50% $ 22,392 $ 1,444 $ 526 $ 1,953 $ 26,315 1.51%-2.50% 196 1 24 250 471 Greater than 2.50% 377 1 — — 378 Total $ 22,965 $ 1,446 $ 550 $ 2,203 $ 27,164 Fixed Rate Annuities 0.00%-1.50% $ 23 $ 25 $ 1,532 $ 10,271 $ 11,851 1.51%-2.50% 5 8 23 453 489 Greater than 2.50% 893 2 4 204 1,103 Total $ 921 $ 35 $ 1,559 $ 10,928 $ 13,443 Universal Life 0.00%-1.50% $ 1,987 $ 5 $ — $ 21 $ 2,013 1.51%-2.50% — — — — — Greater than 2.50% 361 16 1 — 378 Total $ 2,348 $ 21 $ 1 $ 21 $ 2,391

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate for the three and nine months ended September 30, 2024 was 83% and 14%. The effective tax rate for the three and nine months ended September 30, 2023 was 19% and 29%. The effective tax rate on pre-tax income for the nine months ended September 30, 2024 differs from the U.S. Federal statutory rate of 21% primarily due to a partial release of the valuation allowance recorded on capital deferred tax assets for U.S. Life companies, as well as favorable permanent adjustments, including low income housing tax credits (“LIHTC”), the dividends received deduction (“DRD”), and company owned life insurance (“COLI”). The effective tax rate on pre-tax income for the three months ended September 30, 2024 differs from the U.S. Federal statutory rate of 21% primarily due to a partial release of the valuation allowance recorded on capital deferred tax assets for U.S. Life companies, as well as favorable permanent adjustments, including LIHTC, DRD, and COLI. The effective tax rate on pre-tax income for the nine months ended September 30, 2023 differs from the U.S. Federal statutory rate of 21% primarily due to the valuation allowance recorded on capital deferred tax assets for U.S. Life companies, partially offset by favorable permanent adjustments, including LIHTC, DRD, and COLI. The effective tax rate on pre-tax income for the three months ended September 30, 2023 differs from the U.S. Federal Statutory rate of 21% primarily due to a partial release of the valuation allowance recorded on capital deferred tax assets for U.S. Life companies, as well as favorable permanent adjustments, including LIHTC, DRD, and COLI. As of September 30, 2024, the Company had a partial valuation allowance of $64 million against its net deferred tax assets of $245 million. As of December 31, 2023, the Company had a partial valuation allowance of $85 million against its net deferred tax assets of $473 million. There was a $21 million decrease in the valuation allowance for the nine months ended September 30, 2024. The valuation allowance consisted of a full valuation allowance on the unrealized capital loss deferred tax assets for F&G Life Re, F&G Cayman Re, and the U.S. Non-life companies, a full valuation allowance on the foreign deferred tax assets on F&G Life Re, and a partial valuation allowance on the capital loss deferred tax assets on the U.S. life insurance companies. The valuation allowance is reviewed quarterly and will be maintained until there is sufficient positive evidence, if any, to support a release. At each reporting date, management considers new evidence, both positive and negative, that could impact the future realization of deferred tax assets. Management will consider a release of the valuation allowance once there is sufficient positive evidence that it is more likely than not that the deferred tax assets will be realized. All other deferred tax assets are more likely than not to be realized based on expectations as to our future taxable income and considering all other available evidence, both positive and negative. The Company makes certain investments in limited partnerships, which invest in affordable housing projects that qualify for the Low-Income Housing Tax Credit (“LIHTC”). The Company’s investment in the funds is amortized through income tax expense on the unaudited Condensed Consolidated Statements of Operations using the proportional amortization method. The tax credits and other benefits recognized are included in the net change in income taxes on the unaudited Condensed Consolidated Statement of Cash Flows. The following table presents the impacts of the LIHTC investments included in income tax expense on the unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 (in millions): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Tax credits and other benefits recognized $ (9) $ (8) $ (29) $ (23) Tax credit amortization expense 7 6 22 18 Total $ (2) $ (2) $ (7) $ (5) At September 30, 2024 and December 31, 2023, LIHTC investments included in Prepaid expenses and other assets on the unaudited Condensed Consolidated Balance Sheets totaled $128 million and $108 million, respectively. The Inflation Reduction Act of 2022 (the “IRA”) was signed into law on August 16, 2022. Among other changes, the IRA introduced a 15% corporate alternative minimum tax (“CAMT”) on adjusted financial statement income and a 1% excise tax on treasury stock repurchases. These provisions were effective January 1, 2023. For purposes of calculating adjusted financial statement income, the Company is included in the controlled group of FNF, its parent company. Though the Company is subject to the minimum tax, the Company does not expect to be in a perpetual CAMT position. The life companies will join the consolidated tax return group with FNF and file a life/non-life consolidated return once the five-year waiting period has completed in 2026, which should strengthen that position as FNF is not anticipating owing CAMT on its future returns. As a result, the Company has assessed that there is no material impact of CAMT to tax for the nine months ended September 30, 2024.

Contractholder Funds

Contractholder Funds	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
Contractholder Funds	Market Risk Benefits The following table presents the balances of and changes in MRBs associated with indexed annuities and fixed rate annuities for the nine months ended September 30, 2024 and the year ended December 31, 2023 (in millions): September 30, 2024 December 31, 2023 Indexed Fixed rate Indexed Fixed rate Balance, beginning of period, net liability $ 314 $ 1 $ 164 $ 1 Balance, beginning of period, before effect of changes in the instrument-specific credit risk $ 209 $ 1 $ 102 $ 1 Issuances and benefit payments 78 — (10) — Attributed fees collected and interest accrual 103 — 131 — Actual policyholder behavior different from expected 8 — 27 — Changes in assumptions and other 32 — 29 — Effects of market related movements (31) — (70) — Balance, end of period, before effect of changes in the instrument-specific credit risk 399 1 209 1 Effect of changes in the instrument-specific credit risk 112 — 105 — Balance, end of period, net liability 511 1 314 1 Less: reinsured market risk benefits 43 — — — Balance, end of period, net of reinsurance $ 468 $ 1 $ 314 $ 1 Weighted-average attained age of policyholders weighted by total AV (years) 68.04 72.47 68.28 72.59 Net amount at risk $ 1,390 $ 2 $ 1,059 $ 2 The following table reconciles MRBs by amounts in an asset position and amounts in a liability position to the MRBs amounts in the unaudited Condensed Consolidated Balance Sheets (in millions): September 30, 2024 December 31, 2023 Direct Reinsured Net Direct Reinsured Net MRB asset Indexed annuities $ 91 $ 43 $ 134 $ 88 $ — $ 88 Fixed rate annuities — — — — — — Total MRB asset $ 91 $ 43 $ 134 $ 88 $ — $ 88 MRB liability Indexed annuities $ 602 $ — $ 602 $ 402 $ — $ 402 Fixed rate annuities 1 — 1 1 — 1 Total MRB liability $ 603 $ — $ 603 $ 403 $ — $ 403 The net MRB liability increased for the nine months ended September 30, 2024, primarily as a result of collection of attributed fees, interest accrual, MRB reserves for contracts issued within the period, and changes in actuarial assumptions. These increases were partially offset by the effects of market related movements, including the impacts of higher risk-free rates and increases in the equity market related projections. For the nine months ended September 30, 2024, notable changes made to the inputs to the fair value estimates of MRBs calculations included an increase in risk-free rates leading to a favorable change in the MRBs associated with indexed annuities and fixed rate annuities; increases in the equity market related projections resulted in a decrease in the net amount at risk associated with indexed annuities, leading to a favorable change in the value of the associated MRBs; and an increase in the rider benefit utilization assumption, leading to an unfavorable change in the value of the associated MRBs. The net MRB liability increased for the year ended December 31, 2023, primarily as a result of attributed fees collected, increases as a result of actual policyholder behavior different than expected and changes in assumptions as discussed below. These increases were partially offset by the effects of market related movements, including the impacts of higher risk-free rates and increases in the equity market related projections. For the year ended December 31, 2023, notable changes made to the inputs to the fair value estimates of MRBs calculations included a significant increase in risk-free rates leading to a favorable change in the MRBs associated with indexed annuities and fixed rate annuities; increases in the equity market related projections resulted in a decrease in the net amount at risk associated with indexed annuities, leading to a favorable change in the value of the associated MRBs; and F&G’s credit spread decreased, lead to a corresponding unfavorable change in the MRBs associated with both indexed annuities and fixed rate annuities. In 2024 and 2023, F&G undertook a review of all significant assumptions and revised several assumptions relating to our deferred annuities (indexed annuities and fixed rate annuities) with MRBs. For the nine months ended September 30, 2024, we updated assumptions including surrender rates, rider benefit election utilization and option budgets. For the year ended December 31, 2023,we updated assumptions including surrender rates, partial withdrawal rates, mortality improvement, and option budgets. All updates to these assumptions brought us more in line with our Company and overall industry experience since the prior assumption updates. These updates, in total, led to increases in the net MRB liability for the nine months ended September 30, 2024 and for the year ended December 31, 2023. The following tables summarize balances of and changes in contractholder funds’ account balances (in millions): September 30, 2024 Indexed annuities Fixed rate annuities Universal Life FABN (b) FHLB (b) Balance, beginning of year $ 27,164 $ 13,443 $ 2,391 $ 2,613 $ 2,539 Issuances 4,829 4,476 157 599 1,803 Premiums received 85 1 361 — — Policy charges (a) (140) — (231) — — Surrenders and withdrawals (2,807) (1,184) (75) — — Benefit payments (368) (233) (13) (791) (1,576) Interest credited 488 476 108 51 89 Other 5 — — (1) (2) Balance, end of period 29,256 16,979 2,698 2,471 2,853 Embedded derivative adjustment (c) 790 — 119 — — Gross Liability, end of period 30,046 16,979 2,817 2,471 2,853 Less: Reinsurance 410 10,471 883 — — Net Liability, after Reinsurance $ 29,636 $ 6,508 $ 1,934 $ 2,471 $ 2,853 Weighted-average crediting rate 2.33 % 4.26 % 5.84 % N/A N/A Net amount at risk (d) N/A N/A $ 70,859 N/A N/A Cash surrender value (e) $ 26,985 $ 15,815 $ 2,088 N/A N/A (a) Contracts included in the contractholder funds are generally charged a premium and/or monthly assessments on the basis of the account balance. (b) FABN and FHLB are considered funding agreements that are investment contracts which follow the interest method of accounting, and therefore are not subject to ASU 2018-12 disclosure requirements. However, the Company has elected to present the liability for these agreements within the disaggregated roll forward as we believe it will provide meaningful information for users of the financials. (c) The embedded derivative adjustment reconciles the account balance to the gross GAAP liability and represents the combination of the host contract and the fair value of the embedded derivatives. (d) For those guarantees of benefits that are payable in the event of death, the net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date. (e) These amounts are gross of reinsurance. December 31, 2023 Indexed annuities Fixed rate annuities Universal Life FABN (b) FHLB (b) Balance, beginning of year $ 24,766 $ 9,358 $ 2,112 $ 2,613 $ 1,982 Issuances 4,722 5,061 199 — 1,256 Premiums received 103 1 382 — — Policy charges (a) (182) — (261) — — Surrenders and withdrawals (2,005) (1,142) (90) — — Benefit payments (526) (240) (27) (53) (763) Interest credited 270 405 76 54 64 Other 16 — — (1) — Balance, end of period 27,164 13,443 2,391 2,613 2,539 Embedded derivative adjustment (c) 243 — 84 — — Gross Liability, end of period 27,407 13,443 2,475 2,613 2,539 Less: Reinsurance 17 7,520 894 — — Net Liability, after Reinsurance $ 27,390 $ 5,923 $ 1,581 $ 2,613 $ 2,539 Weighted-average crediting rate 1.40 % 4.85 % 3.44 % N/A N/A Net amount at risk (d) N/A N/A $ 60,389 N/A N/A Cash surrender value (e) $ 25,099 $ 12,505 $ 1,872 N/A N/A (a) Contracts included in the contractholder funds are generally charged a premium and/or monthly assessments on the basis of the account balance. (b) FABN and FHLB are considered funding agreements that are investment contracts which follow the interest method of accounting, and therefore are not subject to ASU 2018-12 disclosure requirements. However, the Company has elected to present the liability for these agreements within the disaggregated roll forward as we believe it will provide meaningful information for users of the financials. (c) The embedded derivative adjustment reconciles the account balance to the gross GAAP liability and represents the combination of the host contract and the fair value of the embedded derivatives. (d) For those guarantees of benefits that are payable in the event of death, the net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date. (e) These amounts are gross of reinsurance. The following table reconciles contractholder funds’ account balances to the contractholder funds liability in the unaudited Condensed Consolidated Balance Sheets (in millions): September 30, 2024 December 31, 2023 Indexed annuities $ 30,046 $ 27,407 Fixed rate annuities 16,979 13,443 Immediate annuities 292 311 Universal life 2,817 2,475 Traditional life 5 5 Funding Agreement-FABN 2,471 2,613 FHLB 2,853 2,539 PRT 5 5 Total $ 55,468 $ 48,798 Annually, typically in the third quarter, we review assumptions associated with reserves for policy benefits and product guarantees. For the nine months ended September 30, 2024, based on policyholder behavior, experience and interest rate movements, we reflected updates to surrender assumptions for recent and expected near term policyholder behavior, as well as updated certain FIA assumptions used to calculate the fair value of the embedded derivative component within contractholder funds. These changes resulted in a decrease in total benefits and other changes in policy reserves of approximately $79 million for the nine months ended September 30, 2024. For the year ended December 31, 2023, based on increases in interest rates and pricing changes, we updated certain FIA assumptions used to calculate the fair value of the embedded derivative component within contractholder funds and also aligned reserves to actual policyholder behavior. These changes resulted in an increase in total benefits and other changes in policy reserves of approximately $73 million for the year ended December 31, 2023. The following tables present the account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimums (in millions): September 30, 2024 Range of guaranteed minimum crediting rate At Guaranteed Minimum 1 Basis Point-50 Basis Points Above 51 Basis Points-150 Basis Points Above Greater Than 150 Basis Points Above Total Indexed Annuities 0.00%-1.50% $ 23,095 $ 1,285 $ 502 $ 1,847 $ 26,729 1.51%-2.50% 700 1 460 1,046 2,207 Greater than 2.50% 317 2 — 1 320 Total $ 24,112 $ 1,288 $ 962 $ 2,894 $ 29,256 Fixed Rate Annuities 0.00%-1.50% $ 46 $ 21 $ 925 $ 13,855 $ 14,847 1.51%-2.50% 4 7 20 460 491 Greater than 2.50% 826 2 3 810 1,641 Total $ 876 $ 30 $ 948 $ 15,125 $ 16,979 Universal Life 0.00%-1.50% $ 2,303 $ 6 $ — $ 22 $ 2,331 1.51%-2.50% — — — — — Greater than 2.50% 366 — 1 — 367 Total $ 2,669 $ 6 $ 1 $ 22 $ 2,698 December 31, 2023 Range of guaranteed minimum crediting rate At Guaranteed Minimum 1 Basis Point-50 Basis Points Above 51 Basis Points-150 Basis Points Above Greater Than 150 Basis Points Above Total Indexed Annuities 0.00%-1.50% $ 22,392 $ 1,444 $ 526 $ 1,953 $ 26,315 1.51%-2.50% 196 1 24 250 471 Greater than 2.50% 377 1 — — 378 Total $ 22,965 $ 1,446 $ 550 $ 2,203 $ 27,164 Fixed Rate Annuities 0.00%-1.50% $ 23 $ 25 $ 1,532 $ 10,271 $ 11,851 1.51%-2.50% 5 8 23 453 489 Greater than 2.50% 893 2 4 204 1,103 Total $ 921 $ 35 $ 1,559 $ 10,928 $ 13,443 Universal Life 0.00%-1.50% $ 1,987 $ 5 $ — $ 21 $ 2,013 1.51%-2.50% — — — — — Greater than 2.50% 361 16 1 — 378 Total $ 2,348 $ 21 $ 1 $ 21 $ 2,391

Future Policy Benefits

Future Policy Benefits	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
Future Policy Benefits	Future Policy Benefits The following table summarizes balances and changes in the present value of expected net premiums and the present value of the expected FPB for nonparticipating traditional contracts (in millions): Traditional Life September 30, 2024 December 31, 2023 Expected net premiums Balance, beginning of year $ 722 $ 797 Beginning balance at original discount rate 874 974 Effect of actual variances from expected experience (4) (1) Balance adjusted for variances from expectation 870 973 Interest accrual 13 19 Net premiums collected (82) (118) Ending Balance at original discount rate 801 874 Effect of changes in discount rate assumptions (128) (152) Balance, end of period $ 673 $ 722 Expected FPB Balance, beginning of year $ 2,071 $ 2,151 Beginning balance at original discount rate 2,492 2,665 Effect of actual variances from expected experience 48 (24) Balance adjusted for variances from expectation 2,540 2,641 Interest accrual 41 56 Benefits payments (165) (205) Ending Balance at original discount rate 2,416 2,492 Effect of changes in discount rate assumptions (358) (421) Balance, end of period $ 2,058 $ 2,071 Net liability for future policy benefits $ 1,385 $ 1,349 Less: Reinsurance recoverable 525 413 Net liability for future policy benefits, after reinsurance recoverable $ 860 $ 936 Weighted-average duration of liability for future policyholder benefits (years) 6.87 7.36 The following tables summarize balances and changes in the present value of the expected FPB for limited-payment contracts (in millions): PRT September 30, 2024 December 31, 2023 Balance, beginning of year $ 4,189 $ 2,165 Beginning balance at original discount rate 4,351 2,475 Effect of changes in cash flow assumptions 4 (9) Effect of actual variances from expected experience (20) (7) Balance adjusted for variances from expectation 4,335 2,459 Issuances 1,300 2,041 Interest accrual 168 109 Benefits payments (346) (258) Ending Balance at original discount rate 5,457 4,351 Effect of changes in discount rate assumptions (63) (162) Balance, end of period $ 5,394 $ 4,189 Net liability for future policy benefits, after reinsurance recoverable $ 5,394 $ 4,189 Weighted-average duration of liability for future policyholder benefits (years) 7.95 8.23 Immediate annuities September 30, 2024 December 31, 2023 Balance, beginning of year $ 1,415 $ 1,429 Beginning balance at original discount rate 1,788 1,858 Effect of changes in cash flow assumptions — — Effect of actual variances from expected experience (26) (15) Balance adjusted for variances from expectation 1,762 1,843 Issuances 27 22 Interest accrual 46 51 Benefits payments (88) (128) Ending Balance at original discount rate 1,747 1,788 Effect of changes in discount rate assumptions (354) (373) Balance, end of period $ 1,393 $ 1,415 Net liability for future policy benefits $ 1,393 $ 1,415 Less: Reinsurance recoverable 115 116 Net liability for future policy benefits, after reinsurance recoverable $ 1,278 $ 1,299 Weighted-average duration of liability for future policyholder benefits (years) 12.89 12.47 The following tables summarize balances and changes in the liability for DPL for limited-payment contracts (in millions): September 30, 2024 December 31, 2023 Immediate annuities PRT Immediate annuities PRT Balance, beginning of year $ 87 $ 10 $ 69 $ 4 Effect of modeling changes — — 4 — Effect of changes in cash flow assumptions — (7) — 1 Effect of actual variances from expected experience 6 — 16 5 Balance adjusted for variances from expectation 93 3 89 10 Issuances 2 — 3 — Interest accrual 1 4 2 1 Amortization (6) (1) (7) (1) Balance, end of period $ 90 $ 6 $ 87 $ 10 The following table reconciles the net FPB to the FPB in the unaudited Condensed Consolidated Balance Sheets (in millions). The DPL for Immediate Annuities and PRT is presented together with the FPB in the unaudited Condensed Consolidated Balance Sheets and has been included as a reconciling item in the table below: September 30, 2024 December 31, 2023 Traditional Life $ 1,385 $ 1,349 Immediate annuities 1,393 1,415 PRT 5,394 4,189 Immediate annuities DPL 90 87 PRT DPL 6 10 Total $ 8,268 $ 7,050 The following table provides the amount of undiscounted and discounted expected gross premiums and expected future benefits and expenses for nonparticipating traditional and limited-payment contracts (in millions): Undiscounted Discounted September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Traditional Life Expected future benefit payments $ 2,843 $ 2,996 $ 2,073 $ 1,984 Expected future gross premiums 978 1,116 728 772 Immediate annuities Expected future benefit payments $ 3,212 $ 3,227 $ 1,392 $ 1,313 Expected future gross premiums — — — — PRT Expected future benefit payments $ 8,449 $ 5,445 $ 5,470 $ 3,605 Expected future gross premiums — — — — The following table summarizes the amount of revenue and interest related to nonparticipating traditional and limited-payment contracts recognized in the unaudited Condensed Consolidated Statements of Operations (in millions): Gross Premiums (a) Interest Expense (b) September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Traditional Life $ 84 $ 94 $ 28 $ 28 Immediate annuities 16 18 46 42 PRT 1,240 1,207 168 79 Total $ 1,340 $ 1,319 $ 242 $ 149 (a) Included in Life insurance premiums and other fees on the unaudited Condensed Consolidated Statements of Operations. (b) Included in Benefits and other changes in policy reserves (remeasurement gains (losses) (a)) on the unaudited Condensed Consolidated Statements of Operations. The following table presents the weighted-average interest rate: September 30, 2024 December 31, 2023 Traditional Life Interest accretion rate 2.34 % 2.33 % Current discount rate 4.95 5.03 Immediate annuities Interest accretion rate 3.17 % 3.14 % Current discount rate 4.90 4.98 PRT Interest accretion rate 4.70 % 4.61 % Current discount rate 4.85 5.03 The following tables summarize the actual experience and expected experience for mortality and lapses of the FPB: September 30, 2024 Traditional Life Immediate annuities PRT Mortality Actual experience 1.4 % 2.7 % 3.0 % Expected experience 1.5 1.9 2.5 Lapses Actual experience 0.1 % — % — % Expected experience 0.5 — — December 31, 2023 Traditional Life Immediate annuities PRT Mortality Actual experience 1.7 % 3.2 % 3.2 % Expected experience 1.4 1.8 2.3 Lapses Actual experience — % — % — % Expected experience 0.3 — — The following table provides additional information for periods in which a cohort has an net premium ratio (“NPR”) greater than 100% (and therefore capped at 100%) (dollars in millions): September 30, 2024 Cohort X Description NPR before capping 109 % Term with return of premium Non-NY Cohort Reserves before NPR capping $ 1,219 Term with return of premium Non-NY Cohort Reserves after NPR capping 1,250 Term with return of premium Non-NY Cohort Loss Expense 31 Term with return of premium Non-NY Cohort Premium deficiency testing F&G conducts annual premium deficiency testing for its long-duration contracts except for the FPB for nonparticipating traditional and limited-payment contracts. F&G also conducts annual premium deficiency testing for the VOBA of all long-duration contracts. Premium deficiency testing is performed by reviewing assumptions used to calculate the insurance liabilities and determining whether the sum of the existing contract liabilities and the present value of future gross premiums is sufficient to cover the present value of future benefits to be paid to or on behalf of policyholders and settlement costs and recover unamortized present value of future profits. Anticipated investment income, based on F&G’s experience, is considered when performing premium deficiency testing for long-duration contracts. During 2024, F&G was not required to establish any additional liabilities as a result of premium deficiency testing. F&G made changes to assumptions during the nine months ended September 30, 2024 and the year ended December 31, 2023. Significant assumption inputs used in the calculation of our FPB are described below. Refer to the tables above for further details on changes to our FPB. Traditional life Significant assumption inputs to the calculation of the FPB for traditional life include mortality, lapses (including lapses due to nonpayment of premium and surrenders for cash surrender value), and discount rates (both accretion and current). We review the cash flow assumptions annually, typically in the third quarter. In 2023, F&G undertook a review of all significant assumptions and revised the lapse assumption, resulting in a slight decrease to the FPB. In 2024, F&G made an adjustment to the calculation to reflect additional actuarial precision, unrelated to the assumptions, driving an increase to the FPB liability. There have been no other significant changes. Market data that underlies current discount rates was updated in 2024 from that utilized in 2023 resulting in decreased discount rates that drove a material increase to the FPB. Immediate annuities (life contingent) Significant assumption inputs to the calculation of the FPB for immediate annuities (life contingent) include mortality and discount rates (both accretion and current). We review the cash flow assumptions annually, typically in the third quarter. In 2024 and 2023, F&G undertook a review of the significant cash flow assumptions and did not make any changes to mortality. Market data that underlies current discount rates was updated in 2024 from that utilized in 2023, resulting in decreased discount rates that drove a material increase to the FPB. PRT (life contingent) Significant assumption inputs to the calculation of the FPB for PRT (life contingent) include mortality and discount rates (both accretion and current). We review the cash flow assumptions annually, typically in the third quarter. In 2024 and 2023, F&G undertook a review of the significant cash flow assumptions and did not make any changes to mortality. Market data that underlies current discount rates was updated in 2024 from 2023 resulting in decreased discount rates that drove a material increase to the FPB.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	9 Months Ended
	Sep. 30, 2024
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities	Accounts Payable and Accrued Liabilities As of September 30, 2024 and December 31, 2023, the total unearned revenue liabilities (“URL”) balance of $366 million and $270 million, respectively, is included in Accounts payable and accrued liabilities on the unaudited Condensed Consolidated Balance Sheets. The following table presents a reconciliation of Accounts payable and accrued liabilities to the unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (in millions): September 30, 2024 December 31, 2023 Salaries and incentives $ 95 $ 99 Accrued benefits 66 60 URL 366 270 Trade accounts payable 187 297 Liability for policy and contract claims 93 92 Retained asset account 64 81 Remittances and items not allocated 296 284 Option collateral liabilities 1,133 588 Lease liability 10 11 Investment purchases payable 647 21 Contingent consideration 69 — Other accrued liabilities 265 208 Accounts payable and accrued liabilities $ 3,291 $ 2,011 The following tables roll forward URL for our universal life product for the nine months ended September 30, 2024 and September 30, 2023 (in millions): Nine Months Ended September 30, 2024 2023 Balance at January 1, $ 270 $ 166 Capitalization 110 87 Amortization (14) (12) Balance at September 30, $ 366 $ 241

Notes Payable

Notes Payable	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Notes Payable	Notes Payable The carrying amounts of notes payable are summarized as follows (in millions): September 30, 2024 December 31, 2023 6.50% F&G Notes, net of $6 and $0 of deferred issuance costs at September 30, 2024 and December 31, 2023, respectively $ 544 $ — 7.95% F&G Notes, net of $9 and $9 of deferred issuance costs at September 30, 2024 and December 31, 2023, respectively 336 336 7.40% F&G Notes, net of $4 and $5 of deferred issuance costs at September 30, 2024 and December 31, 2023, respectively 496 495 5.50% F&G Notes, including $4 and $11 of purchase premium at September 30, 2024 and December 31, 2023, respectively 304 561 Revolving Credit Facility - Short-term, net of deferred issuance costs of $7 and $3 at September 30, 2024 and December 31, 2023 358 362 Total $ 2,038 $ 1,754 6.50% F&G Senior Notes - On June 4, 2024, F&G completed its public offering of $550 million aggregate principal amount of its 6.50% Senior Notes due 2029 (the “6.50% F&G Notes”). The 6.50% F&G notes were issued at 99.74% of face value net of deferred issuance costs of approximately $6 million. The 6.50% F&G Notes are guaranteed on an unsecured, unsubordinated basis by each of F&G’s subsidiaries that are guarantors of F&G’s obligations under its existing credit agreement. The 6.50% F&G Notes mature on June 4, 2029, and become callable on May 4, 2029. Interest is payable semi-annually at a fixed rate of 6.50%, and, if the 6.50% F&G Notes are downgraded, the interest rate payable is subject to adjustment from time to time per the terms of the indenture. F&G used a portion of the net proceeds from the offering to repay an aggregate principal amount of $250 million of the 5.50% F&G Notes. F&G intends to use the remaining net proceeds for general corporate purposes, which may include the repurchase, redemption or repayment at maturity of outstanding indebtedness. Revolving Credit Facility - On February 16, 2024, F&G entered into an amendment and extension of its existing senior unsecured revolving credit agreement (the “Credit Agreement”). The maturity date of the Credit Agreement was extended from November 22, 2025 to November 22, 2027. Total borrowing availability increased from $665 million to $750 million. Pricing and advance rates remain unchanged. Financial covenants also remain essentially the same. At September 30, 2024, the remaining borrowing availability was $385 million. The average variable interest rate on the revolver was 7.08% and 7.11% for the nine months ended September 30, 2024 and for the year ended December 31, 2023, respectively. Refer to Note A - Basis of Financial Statements for a discussion related to the public offering of its $500 million aggregate principal amount of the 6.250% F&G Senior Notes completed on October 4, 2024, and the payoff of the revolving credit facility with a portion of the proceeds. Covenants - The Credit Agreement and the indentures governing the 6.50% F&G Notes, 7.95% F&G Notes, 7.40% F&G Notes and 5.50% F&G Notes impose certain operating and financial restrictions, including financial covenants, on F&G. As of September 30, 2024, we were in compliance with all covenants. Interest Expense - Amortization of deferred issuance costs and purchase premiums are recognized as components of interest expense. Interest expense on F&G’s outstanding notes payable for the three and nine months ended September 30, 2024 and September 30, 2023 was as follows (in millions): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 6.50% F&G Notes $ 9 $ — $ 12 $ — 7.95% F&G Notes 6 — 21 — 7.40% F&G Notes 10 9 29 27 5.50% F&G Notes 4 6 11 17 Revolving Credit Facility 7 9 21 27 Total $ 36 $ 24 $ 94 $ 71

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information The following supplemental cash flow information is provided with respect to certain cash payment and non-cash investing and financing activities (in millions): Nine months ended September 30, 2024 2023 Cash paid (refunded) for: Interest paid $ 93 $ 60 Income taxes (refunded) paid (10) 3 Deferred sales inducements 219 112 Non-cash investing and financing activities: Investments received from pension risk transfer premiums — 464 Change in proceeds of sales of investments available for sale receivable in period (87) 34 Change in purchases of investments available for sale payable in period 633 146 Refer to Note P - Acquisitions for information on the acquisitions of Roar and PALH including the assets acquired and liabilities and non-controlling interest assumed as of the respective acquisition dates.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contingent Consideration Under the terms of the purchase agreement for Roar, we have agreed to make cash payments of up to approximately $90 million over a three-year period upon the achievement by Roar of certain EBITDA milestones. The contingent consideration is recorded at fair value in Accounts payable and accrued liabilities on the unaudited Condensed Consolidated Balance Sheets. Refer to Note P - Acquisitions for more information on the Roar purchase and refer to Note B - Fair Value of Financial Instruments for more information regarding the fair value of the contingent consideration. Legal and Regulatory Contingencies In the ordinary course of business, we are involved in various pending and threatened litigation matters related to our operations, some of which include claims for punitive or exemplary damages. Like other companies, our ordinary course litigation includes a number of class action and purported class action lawsuits, which make allegations related to aspects of our operations. We believe that no actions, other than the matters discussed below, if any, depart from customary litigation incidental to our business. We review lawsuits and other legal and regulatory matters (collectively “legal proceedings”) on an ongoing basis when making accrual and disclosure decisions. When assessing reasonably possible and probable outcomes, management bases its decision on its assessment of the ultimate outcome assuming all appeals have been exhausted. For legal proceedings in which it has been determined that a loss is both probable and reasonably estimable, a liability based on known facts and that represents our best estimate has been recorded. Our accrual for legal and regulatory matters was insignificant as of September 30, 2024 and December 31, 2023. We do not consider (i) the amounts we have currently recorded for all legal proceedings in which it has been determined that a loss is both probable and reasonably estimable and (ii) reasonably possible losses for all pending legal proceedings to be material to our financial statements either individually or in the aggregate. Actual losses may materially differ from the amounts recorded and the ultimate outcome of our pending legal proceedings is generally not yet determinable. While some of these matters could be material to our operating results or cash flows for any particular period if an unfavorable outcome results, at present we do not believe that the ultimate resolution of currently pending legal proceedings, either individually or in the aggregate, will have a material adverse effect on our financial condition. F&G is a defendant in two putative class action lawsuits that allege some customers’ personally identifiable information was disclosed due to a vulnerability in the MOVEit file transfer software. F&G’s vendor, Pension Benefit Information, LLC (“PBI”), used the MOVEit software in the course of providing audit and address research services to F&G and many other corporate customers. Miller v. F&G , No. 4:23-cv-00326 (“ Miller ”), was filed against F&G in the Southern District of Iowa on August 31, 2023. Miller alleges that he is a F&G customer whose personally identifiable information was disclosed in the MOVEit incident and brings common law tort and implied contract claims. Plaintiff seeks injunctive relief and damages. Cooper v. Progress Software Corp ., No. 1:23-cv-12067 (“Cooper”), was filed against F&G and five other defendants in the District of Massachusetts on September 7, 2023. Cooper also alleges that he is a F&G customer whose personally identifiable information was disclosed and brings similar common law tort claims and alleges claims as a purported third-party beneficiary of an alleged contract. Plaintiff seeks declaratory and injunctive relief and damages. Well over 150 similar lawsuits have been filed against other entities impacted by the MOVEit incident including a number of such lawsuits related to PBI’s use of MOVEit. On October 4, 2023, the U.S. Judicial Panel on Multidistrict Litigation created a multidistrict litigation (“MDL”) pursuant to 28 U.S.C. § 1407 to handle all litigation brought by individuals whose information was potentially compromised in connection with the alleged MOVEit vulnerability. Both Miller and Coope r have been transferred to the MDL and are proceeding under MDL Case No. 1:23-md-03083-ADB-PGL. Plaintiffs filed amendments to their complaints, and the Defendants filed their omnibus motion to dismiss for lack of Article III standing on July 23, 2024. The case is proceeding under a modified bellweather structure to decide critical issues and facilitate reciprocal discovery. At this time, F&G does not believe the incident will have a material impact on its business, operations, or financial results. On May 28, 2024, a stockholder derivative lawsuit styled, Roofers Local 149 Pension Fund v. Fidelity National Financial Inc., William P. Foley, F&G Annuities & Life Inc. , C.A. No. 2024-0562-LWW, was filed in the Chancery Court of the State of Delaware against defendants Fidelity National Financial, Inc. (“FNF”), in its capacity as F&G’s controlling stockholder, and William P. Foley, Executive Chairman of F&G and Chairman of FNF, alleging breach of fiduciary duty related to F&G’s January 11, 2024 sale of $250 million of 6.875% Series A Mandatory Convertible Preferred Stock to FNF. Plaintiff alleges that, based upon the unfair process and unfair price, the preferred stock investment was advantageous to FNF and unfair to F&G. Plaintiff seeks to recover damages on behalf of F&G for the alleged unfair preferred stock investment and the adoption of certain corporate governance measures. On July 24, 2024, F&G filed its answer to plaintiff’s complaint, and the remaining defendants filed their motion to dismiss. On September 23, 2024, plaintiff voluntarily dismissed its action against William P. Foley, leaving FNF’s motion to dismiss pending with briefing completed on October 24, 2024. The defendants will vigorously contest the plaintiff’s claims in the action. From time to time, we receive inquiries and requests for information from state insurance departments, attorneys general and other regulatory agencies about various matters relating to our business. Sometimes these take the form of civil investigative demands or subpoenas. We cooperate with all such inquiries and we have responded to or are currently responding to inquiries from multiple governmental agencies. From time to time, we are assessed fines for violations of regulations or other matters or enter into settlements with such authorities, which may require us to pay fines or claims or take other actions. We do not anticipate such fines and settlements, either individually or in the aggregate, will have a material adverse effect on the Company’s business, operations, or financial results. Commitments We have unfunded commitments as of September 30, 2024 based upon the timing of when investments and agreements are executed or signed compared to when the actual investments and agreements are funded or closed. Some investments require that funding occur over a period of months or years. A summary of unfunded commitments by commitment type as of September 30, 2024 is included below (in millions): September 30, 2024 Unconsolidated VIEs: Limited partnerships $ 1,148 Whole loans 949 Fixed maturity securities, ABS 359 Direct Lending 273 Other fixed maturity securities, AFS 43 Commercial mortgage loans 79 Other assets 145 Other invested assets 109 Total $ 3,105 Concurrent with the Roar purchase agreement, we executed a separate loan agreement with the sellers of Roar for us to lend up to $40 million. The loan matures on August 5, 2027. The principal balance outstanding as of September 30, 2024 was $6 million and is included in “Prepaid expenses and other assets” on the unaudited Condensed Consolidated Balance Sheet. The remainder of the unfunded loan commitment is included in the unfunded commitments table above in the “Other assets” line item. Refer to Note P - Acquisitions for more information on the Roar acquisition.

Insurance Subsidiary Financial

Insurance Subsidiary Financial Information and Regulatory Matters	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
Insurance Subsidiary Financial Information and Regulatory Matters	Insurance Subsidiary Financial Information and Regulatory Matters Our U.S. insurance subsidiaries, FGL Insurance, FGL NY Insurance, Raven Re and Corbeau Re file financial statements with state insurance regulatory authorities and, with the exception of Raven Re, with the National Association of Insurance Commissioners (“NAIC”) that are prepared in accordance with Statutory Accounting Principles (“SAP”) prescribed or permitted by such authorities, which may vary materially from GAAP. Prescribed SAP includes the Accounting Practices and Procedures Manual of the NAIC as well as state laws, regulations and administrative rules. Permitted SAP encompasses all accounting practices not so prescribed. The principal differences between SAP financial statements and financial statements prepared in accordance with GAAP are that SAP financial statements do not reflect VOBA, DAC, and DSI, some bond portfolios may be carried at amortized cost, assets and liabilities are presented net of reinsurance, contractholder liabilities are generally valued using more conservative assumptions and certain assets are non-admitted. Accordingly, SAP operating results and SAP capital and surplus may differ substantially from amounts reported in the GAAP basis financial statements for comparable items. Our non-U.S. insurance subsidiaries, F&G Cayman Re Ltd (“F&G Cayman Re”) and F&G Life Re Ltd (Bermuda), file financial statements with their respective regulators. U.S. Companies Our principal insurance subsidiaries' statutory financial statements are based on a December 31 year end. Statutory net income for the three and nine months ended September 30, 2024 and September 30, 2023, and statutory capital and surplus as of September 30, 2024 and December 31, 2023, of our wholly owned insurance subsidiaries, were as follows (in millions): Subsidiary (state of domicile) (a) FGL Insurance FGL NY Insurance (NY) Raven Re Corbeau Re Statutory net income (loss): For the three months ended September 30, 2024 $ (6) $ 1 $ 13 $ 5 For the three months ended September 30, 2023 94 (1) 14 — For the nine months ended September 30, 2024 $ 71 $ 7 $ 41 $ (394) For the nine months ended September 30, 2023 54 4 42 — Statutory capital and surplus: September 30, 2024 $ 1,704 $ 95 $ 156 $ 139 December 31, 2023 2,009 86 140 171 (a) FGL NY Insurance, Raven Re and Corbeau Re are subsidiaries of FGL Insurance, and the columns should not be added together. Corbeau Re was incorporated on September 1, 2023. Non-U.S. Companies Our non-U.S. insurance subsidiaries, F&G Cayman Re and F&G Life Re, file financial statements with their respective regulators. As of and for the annual period ended December 31, 2023, F&G Cayman Re began to file financial statements that are prepared in accordance with SAP prescribed or permitted by such authorities, which may vary materially from GAAP. Accordingly, SAP operating results and SAP capital and surplus may differ substantially from amounts reported in the GAAP basis financial statements for comparable items. F&G Cayman Re has two permitted practices which have been approved by the Cayman Islands Monetary Authority (“CIMA”). F&G Cayman Re has a permitted practice approved by CIMA to include, as an admitted asset, the value of the letters of credit (“LOCs”) acquired to support reinsurance transactions. Also, F&G Cayman Re has a permitted practice, approved by CIMA, for PRT reinsurance transactions to use U.S. statutory book value adjusted for best estimate reserve calculations (consistent with GAAP prior to ASU 2018-12, Financial Services-Insurance (Topic 944), Targeted Improvements to the Accounting for Long-Duration Contracts). These reserve calculations will be subject to annual assumption reviews consistent with other GAAP liability balances. If F&G Cayman Re had not been permitted to calculate PRT assumed reserves using best estimate reserve calculations or include the value of the LOCs as an admitted asset, statutory surplus would be $29 million and $102 million as of September 30, 2024 and December 31, 2023, respectively. Without such permitted statutory accounting practices, F&G Cayman Re’s risk-based capital would fall below the minimum regulatory requirements as of September 30, 2024 and December 31, 2023. F&G Life Re files financial statements based on GAAP. Net income and capital and surplus of our wholly owned Cayman Islands and Bermuda regulated insurance subsidiaries under SAP and GAAP, respectively, were as follows (in millions): Subsidiary (country of domicile) F&G Cayman Re (Cayman Islands) F&G Life Re (Bermuda) Statutory net income (loss): For the three months ended September 30, 2024 $ (11) $ 102 For the three months ended September 30, 2023 6 (80) For the nine months ended September 30, 2024 $ (27) $ 181 For the nine months ended September 30, 2023 13 (6) Statutory capital and surplus: September 30, 2024 $ 625 $ 195 December 31, 2023 543 11 There have been no material changes to the prescribed and permitted practices for our U.S. insurance subsidiaries, which were detailed in our Annual Report on Form 10-K, and no other significant changes in the regulatory status of our insurance subsidiaries as of September 30, 2024.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	Acquisitions Owned Distribution - Acquisition of Roar Joint Venture, LLC On January 2, 2024, F&G acquired a 70% majority ownership stake in the equity of Roar Joint Venture, LLC (“Roar”). Roar wholesales life insurance and annuity products to banks and broker dealers through a network of agents. Under the terms of the purchase agreement, the Company has agreed to make cash payments of up to approximately $90 million over a three-year period upon the achievement of certain EBITDA milestones of Roar. The initial purchase price is as follows (in millions): Cash paid for 70% majority interest of Roar shares $ 269 Less: Cash acquired net of non-controlling interests 1 Net cash paid for 70% majority interest of Roar 268 Initial fair value of contingent consideration 48 Total initial consideration $ 316 The following table summarizes the fair value amounts recognized for the assets acquired and liabilities assumed as of the acquisition date (in millions): Fair value as of Goodwill $ 268 Prepaid expenses and other assets 3 Other intangible assets 183 Total assets acquired 454 Accounts payable and accrued liabilities 2 Total liabilities assumed 2 Non-controlling interests (fair value determined using income approach) 136 Total liabilities assumed and non-controlling interests 138 Net assets acquired $ 316 The gross carrying value and weighted average estimated useful lives of Other intangible assets acquired in the Roar acquisition consist of the following (dollars in millions): Gross Carrying Value Estimated Useful Life Other intangible assets: Customer relationships $ 179 12 Definite lived trademarks, tradenames, and other 4 10 Total Other intangible assets $ 183 Goodwill consists primarily of intangible assets that do not qualify for separate recognition, such as the assembled workforce and synergies between the entities. The total amount of goodwill recorded is expected to be deductible for tax purposes. Roar’s revenues of $19 million and $60 million and net earnings attributable to F&G of $2 million and $6 million are included in the unaudited Condensed Consolidated Statement of Operations for the three and nine months ended September 30, 2024, respectively. Unaudited Supplemental Pro-Forma Financial Results For comparative purposes, selected unaudited pro-forma consolidated results of operations of F&G for the three and nine months ended September 30, 2023 are presented below (in millions). Unaudited pro-forma results presented assume the acquisition of Roar occurred as of January 1, 2023 and are not intended to represent or be indicative of actual or future results of operations. Three months ended September 30, Nine months ended September 30, 2023 2023 Total revenues $ 866 $ 2,931 Net earnings (loss) attributable to F&G common shareholders 297 213 Amounts reflect certain pro forma adjustments to revenue and net earnings (loss) attributable to F&G common shareholders that were directly attributable to the acquisition, primarily reflecting the elimination of intercompany activity between the entities. Owned Distribution - Acquisition of PALH, LLC On July 18, 2024, F&G acquired a 100% ownership stake in the equity of PALH, LLC (“PALH”). PALH markets and sells life insurance and annuity products of various insurance carriers to individuals through a network of agents. Prior to the acquisition date, PALH owned a 70% ownership stake in an operating company of which F&G owned 30% equity. Immediately before the acquisition date, the fair value of F&G’s minority stake in the operating company was approximately $92 million, derived from the transaction value. The transaction value contemplates measures such as EBITDA margin, revenue growth over time periods and growth opportunities. This remeasurement resulted in a realized gain of $2 million recorded in Recognized gains and (losses), net in the unaudited Condensed Consolidated Statements of Operations during the three and nine months ended September 30, 2024 . The initial purchase price is as follows (in millions): Cash consideration $ 215 Less: Cash acquired 1 Net cash paid 214 Settlement of prepaid asset 8 Acquisition date fair value of previously held interests 92 Total consideration $ 314 The following table summarizes the fair value amounts recognized for the assets acquired and liabilities assumed as of the acquisition date (in millions): Fair value as of Goodwill $ 162 Prepaid expenses and other assets 5 Other intangible assets 149 Total assets acquired 316 Accounts payable and accrued liabilities 2 Total liabilities assumed 2 Net assets acquired $ 314 The gross carrying value and weighted average estimated useful lives of Other intangible assets acquired in the PALH acquisition consist of the following (dollars in millions): Gross Carrying Value Estimated Useful Life Other intangible assets: Customer relationships $ 131 20 Definite lived trademarks, tradenames, and other 18 5 to 10 Total Other intangible assets $ 149 Goodwill consists primarily of intangible assets that do not qualify for separate recognition, such as the assembled workforce and synergies between the entities. A portion of the total amount of goodwill recorded is expected to be deductible for tax purposes. PALH’s revenues and net loss attributable to F&G of $1 million and $4 million, respectively, are included in the unaudited Condensed Consolidated Statement of Operations for the three and nine months ended September 30, 2024. Unaudited Supplemental Pro-Forma Financial Results For comparative purposes, selected unaudited pro-forma consolidated results of operations of F&G for the three and nine months ended September 30, 2023 are presented below (in millions). Unaudited pro-forma results presented assume the acquisition of PALH occurred as of January 1, 2023 and are not intended to represent or be indicative of actual or future results of operations. Three months ended September 30, Nine months ended September 30, 2023 2023 Total revenues $ 852 $ 2,891 Net earnings (loss) attributable to F&G common shareholders 303 232 Amounts reflect certain pro forma adjustments to revenue and net earnings (loss) attributable to F&G common shareholders that were directly attributable to the acquisition, primarily reflecting the elimination of intercompany activity between the entities.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted EPS (dollars and shares in millions except per share data): Three months ended September 30, Nine months ended 2024 2023 2024 2023 Net earnings (loss) $ (5) $ 306 $ 315 $ 241 Less: Non-controlling interests 1 — 3 — Net earnings (loss) attributable to F&G (6) 306 312 241 Less: Preferred stock dividend 4 — 13 — Net earnings (loss) attributable to F&G common shareholders $ (10) $ 306 $ 299 $ 241 Weighted-average common shares outstanding - basic 124 124 124 124 Dilutive effect of unvested restricted stock — 1 1 1 Dilutive effect of mandatory convertible preferred stock — — 6 — Weighted-average shares outstanding - diluted 124 125 131 125 Net earnings (loss) per share attributable to F&G common shareholders Basic - net $ (0.08) $ 2.47 $ 2.41 $ 1.94 Diluted - net $ (0.08) $ 2.45 $ 2.38 $ 1.93

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (6)	$ 306	$ 312	$ 241

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Financial Statements (

Basis of Financial Statements (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Financial Statements	The financial information in this report presented for interim periods is unaudited and includes the accounts of F&G Annuities & Life, Inc. (“FGAL”) and its subsidiaries (collectively, “we”, “us”, “our”, the "Company" or “F&G”) prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. All adjustments made were of a normal, recurring nature. This report should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2023, filed on February 29, 2024.
Earnings Per Share	Earnings Per Share Basic earnings per share (“EPS”), as presented on the unaudited Condensed Consolidated Statements of Operations, is computed by dividing net earnings available to common shareholders in a given period by the weighted average number of common shares outstanding during such period. Net earnings available to common shareholders is net earnings adjusted for net earnings attributable to non-controlling interests, preferred stock dividends, including preferred stock dividends declared. In periods when earnings are positive, diluted EPS is calculated by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding plus assumed conversions of potentially dilutive securities. For periods when we recognize a net loss, diluted loss per share is equal to basic loss per share as the impact of assumed conversions of potentially dilutive securities is considered to be antidilutive. Certain shares of restricted stock, using the treasury stock method and, as of January 12, 2024, the FNF Preferred Stock, using the if-converted method, are treated as common share equivalents for purposes of calculating diluted earnings per share for periods in which the effect is dilutive. The if-converted method assumes that the convertible preferred stock converts into common stock at the beginning of the period or date of issuance, if later.
Comprehensive Income (Loss)	Comprehensive Income (Loss)
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted Pronouncements In March 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2023-02, Accounting for Investments in Tax Credit Structure Using the Proportional Amortization Method (a consensus of the Emerging Issues Task Force). The amendments in this update permit reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. We adopted this standard on January 1, 2024, as required, and there was no material impact to our unaudited Condensed Consolidated Financial Statements. Refer to Note H - Income Taxes for further information. Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expense categories that are regularly provided to the CODM and included in each reported measure of a segment’s profit or loss. In addition, the amendments enhance interim disclosure requirements that are currently required annually, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, and contain other disclosure requirements. Additionally, the amendments require that entities with a single reportable segment must now provide all the disclosures previously required under Topic 280. The amendments in this update are incremental to the current requirements of Topic 280 and do not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. The enhanced segment disclosure requirements apply retrospectively to all prior periods presented in the financial statements. The significant segment expense and other segment item amounts disclosed in prior periods shall be based on the significant segment expense categories identified and disclosed in the period of adoption. The amendments in this update are effective for all public entities for fiscal years beginning after December 15, 2023, and interim periods beginning after December 15, 2024. Early adoption is permitted, and the updates must be applied retrospectively to all periods presented in the financial statements. We do not expect to early adopt this standard and are in the process of assessing its impact on our disclosures upon adoption. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments in this update enhance the transparency of the income tax disclosures by expanding on the disclosures required annually. The amendments require entities to disclose in their rate reconciliation table additional categories of information about federal, state, and foreign income taxes, in addition to providing details about the reconciling items in some categories if above a quantitative threshold. Additionally, the amendments require annual disclosure of income taxes paid (net of refunds received) disaggregated by jurisdiction based on a quantitative threshold. The amendments in this update are effective for public business entities for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments should be applied on a prospective basis, and retrospective application is permitted. We do not expect to early adopt this standard and are in the process of assessing its impact on our disclosures upon adoption.
Market Risk Benefits (“MRBs”)	Market Risk Benefits (“MRBs”) MRBs are contracts or contract features that both provide protection to the contract holder from other-than-nominal capital market risk (equity, interest rate and foreign exchange risk) and expose the Company to other-than-nominal capital market risk. MRBs include certain contract features primarily on FIA products that provide minimum guarantees to policyholders, such as guaranteed minimum death benefit, guaranteed minimum withdrawal benefit (“GMWB”) riders and guaranteed minimum accumulation benefit riders. In certain reinsurance transactions, the underlying risks ceded to a reinsurer contain MRBs. MRBs (inclusive of reinsured MRBs) are measured at fair value using an attributed fee measurement approach, where attributed fees are explicit rider charges collectible from the policyholder (or paid to the reinsurer) used to cover the excess benefits, which represent expected benefits in excess of the policyholder’s account value. At contract inception, an attributed fee ratio is calculated equal to rider charges over benefits paid in excess of the account value attributable to the MRBs. The attributed fee ratio remains static over the life of the MRBs and is capped at 100%. Each period subsequent to contract inception, the attributed fee ratio is used to calculate the fair value of the MRBs using a risk neutral valuation method and is based on current net amounts at risk, market data, internal and industry experience, and other factors. The balances are computed using assumptions including mortality, full and partial surrender, rider benefit utilization, risk-free rates including non-performance spread and risk margin, market value of options and economic scenarios. Policyholder behavior assumptions are reviewed at least annually, typically in the third quarter, for any revisions. Reinsured MRBs are valued using a methodology consistent with direct MRBs, with the exception of the non-performance spread which reflects the credit of the reinsurer. MRBs can either be in an asset or liability position and are presented separately on the unaudited Condensed Consolidated Balance Sheets as the right of setoff criteria are not met. Changes in fair value, net, are recognized in Market risk benefits (gains) losses in the unaudited Condensed Consolidated Statements of Operations, except for the change in fair value due to a change in our instrument-specific credit risk, which is recognized in the unaudited Condensed Consolidated Statements of Comprehensive Earnings. See a description of the fair value methodology used in Note B - Fair Value of Financial Instruments and Note G - Market Risk Benefits .

Basis of Financial Statements_2

Basis of Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Changes in Balance of Other Comprehensive Income (Loss)	Changes in the balance of Other comprehensive income (loss) for the three and nine months ended September 30, 2024 and 2023 by component are as follows (in millions). Three months ended September 30, 2024 Unrealized gain Change in Change in Foreign Currency Translation Total Accumulated Other Comprehensive Income (Loss) Balance at June 30, 2024 $ (2,643) $ 756 $ (63) $ (3) $ (1,953) Reclassification adjustments included in net earnings (a) 1 — — — 1 Other comprehensive income (loss) before tax, net of reclassifications 1,298 (371) (31) 4 900 Deferred income tax (expense) benefit (262) 78 6 (1) (179) Balance at September 30, 2024 $ (1,606) $ 463 $ (88) $ — $ (1,231) Three months ended September 30, 2023 Unrealized gain Change in Change in Foreign Currency Translation Total Accumulated Other Comprehensive Income (Loss) Balance at June 30, 2023 $ (3,282) $ 720 $ (46) $ (2) $ (2,610) Reclassification adjustments included in net earnings (a) 26 — — — 26 Other comprehensive income (loss) before tax, net of reclassifications (847) 290 (13) (3) (573) Deferred income tax (expense) benefit 175 (61) 3 — 117 Balance at September 30, 2023 $ (3,928) $ 949 $ (56) $ (5) $ (3,040) (a) Net of income tax expense (benefit) of $0 and $(7) million for the three months ended September 30, 2024 and September 30, 2023, respectively. Nine months ended September 30, 2024 Unrealized gain Change in Change in Foreign Currency Translation Total Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2023 $ (2,479) $ 573 $ (83) $ (1) $ (1,990) Reclassification adjustments included in net earnings (a) (2) — — — (2) Other comprehensive income (loss) before tax, net of reclassifications 1,096 (139) (6) 1 952 Deferred income tax (expense) benefit (221) 29 1 — (191) Balance at September 30, 2024 $ (1,606) $ 463 $ (88) $ — $ (1,231) Nine months ended September 30, 2023 Unrealized gain Change in Change in Foreign Currency Translation Total Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2022 $ (3,528) $ 763 $ (49) $ (4) $ (2,818) Reclassification adjustments included in net earnings (a) 112 — — — 112 Other comprehensive income (loss) before tax, net of reclassifications (644) 235 (9) (1) (419) Deferred income tax (expense) benefit 132 (49) 2 — 85 Balance at September 30, 2023 $ (3,928) $ 949 $ (56) $ (5) $ (3,040) (a) Net of income tax expense (benefit) of $0 and $(30) million for the nine months ended September 30, 2024 and September 30, 2023, respectively.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured of Fair Value, on a Recurring Basis	Our assets and liabilities measured and carried at fair value on a recurring basis, summarized according to the hierarchy previously described, are as follows (in millions): September 30, 2024 Level 1 Level 2 Level 3 NAV Fair Value Assets Cash and cash equivalents $ 3,539 $ — $ — $ — $ 3,539 Fixed maturity securities, available-for-sale: Asset-backed securities — 7,772 8,184 — 15,956 Commercial mortgage-backed securities — 5,124 — — 5,124 Corporates 44 17,844 2,723 — 20,611 Hybrids 37 559 — — 596 Municipals — 1,473 — — 1,473 Residential mortgage-backed securities — 2,588 3 — 2,591 U.S. Government 352 — — — 352 Foreign Governments — 201 5 — 206 Preferred securities 131 151 7 — 289 Equity securities 87 — — 59 146 Derivative investments — 1,401 — — 1,401 Investment in unconsolidated affiliates — — 272 — 272 Short term investments 517 8 156 — 681 Other long-term investments — — 38 38 Market risk benefits asset — — 134 — 134 Total financial assets at fair value $ 4,707 $ 37,121 $ 11,522 $ 59 $ 53,409 Liabilities Derivatives: Indexed annuities/IUL embedded derivatives, included in contractholder funds $ — $ — $ 5,411 $ — $ 5,411 Reinsurance related embedded derivative — 34 — — 34 Contingent consideration obligation — — 69 — 69 Market risk benefits liability — — 603 — 603 Total financial liabilities at fair value $ — $ 34 $ 6,083 $ — $ 6,117 December 31, 2023 Level 1 Level 2 Level 3 NAV Fair Value Assets Cash and cash equivalents $ 1,563 $ — $ — $ — $ 1,563 Fixed maturity securities, available-for-sale: Asset-backed securities — 7,212 7,122 — 14,334 Commercial mortgage-backed securities — 4,392 18 — 4,410 Corporates — 14,609 1,970 — 16,579 Hybrids 95 523 — — 618 Municipals — 1,518 49 — 1,567 Residential mortgage-backed securities — 2,421 3 — 2,424 U.S. Government 261 — — — 261 Foreign Governments — 210 16 — 226 Preferred securities 152 310 7 — 469 Equity securities 78 — — 59 137 Derivative investments — 740 57 — 797 Investment in unconsolidated affiliates — — 285 — 285 Short term investments 1,444 8 — — 1,452 Reinsurance related embedded derivative, included in other assets — 152 — — 152 Other long-term investments — — 37 — 37 Market risk benefits asset — — 88 — 88 Total financial assets at fair value $ 3,593 $ 32,095 $ 9,652 $ 59 $ 45,399 Liabilities Derivatives: Indexed annuities/IUL embedded derivatives, included in contractholder funds $ — $ — $ 4,258 $ — $ 4,258 Market risk benefits liability — — 403 — 403 Total financial liabilities at fair value $ — $ — $ 4,661 $ — $ 4,661 The following tables provide the carrying value and estimated fair value of our financial instruments that are carried on the unaudited Condensed Consolidated Balance Sheets at amounts other than fair value, summarized according to the fair value hierarchy previously described (in millions). September 30, 2024 Level 1 Level 2 Level 3 NAV Total Estimated Fair Value Carrying Amount Assets FHLB common stock $ — $ 153 $ — $ — $ 153 $ 153 Commercial mortgage loans — — 2,342 — 2,342 2,572 Residential mortgage loans — — 2,830 — 2,830 3,054 Investments in unconsolidated affiliates — — 4 3,390 3,394 3,394 Policy loans — — 94 — 94 94 Company-owned life insurance — — 390 — 390 390 Total $ — $ 153 $ 5,660 $ 3,390 $ 9,203 $ 9,657 Liabilities Investment contracts, included in contractholder funds $ — $ — $ 44,762 $ — $ 44,762 $ 55,057 Debt — 2,126 — — 2,126 2,038 Total $ — $ 2,126 $ 44,762 $ — $ 46,888 $ 57,095 December 31, 2023 Level 1 Level 2 Level 3 NAV Total Estimated Fair Value Carrying Amount Assets FHLB common stock $ — $ 138 $ — $ — $ 138 $ 138 Commercial mortgage loans — — 2,253 — 2,253 2,538 Residential mortgage loans — — 2,545 — 2,545 2,798 Investments in unconsolidated affiliates — — 7 2,779 2,786 2,786 Policy loans — — 71 — 71 71 Company-owned life insurance — — 362 — 362 362 Total $ — $ 138 $ 5,238 $ 2,779 $ 8,155 $ 8,693 Liabilities Investment contracts, included in contractholder funds $ — $ — $ 40,229 $ — $ 40,229 $ 44,540 Debt — 1,777 — — 1,777 1,754 Total $ — $ 1,777 $ 40,229 $ — $ 42,006 $ 46,294
Fair Value Measurement Inputs and Valuation Techniques	Quantitative information regarding significant unobservable inputs used for recurring Level 3 fair value measurements of financial instruments carried at fair value as of September 30, 2024 and December 31, 2023, excluding assets and liabilities for which significant quantitative unobservable inputs are not developed internally and not readily available to the Company (primarily those valued using broker quotes and certain third-party pricing services), are as follows (in millions): Valuation Technique Unobservable Input(s) Range (Weighted average) Fair Value at September 30, 2024 September 30, 2024 Assets Asset-backed securities $ 99 Third-Party Valuation Discount Rate 4.82% - 6.71% (5.83%) Corporates 741 Third-Party Valuation Discount Rate 3.55% - 20.69% (6.47%) Residential mortgage-backed securities 3 Third-Party Valuation Discount Rate 5.19% - 5.19% (5.19%) Foreign Governments 5 Third-Party Valuation Discount Rate 6.91% - 6.91% (6.91%) Investment in unconsolidated affiliates 272 Market Comparable Company Analysis EBITDA Multiple 8.8x - 15.1x (11.7x) Other long-term investments: Available-for-sale embedded derivative 34 Black Scholes Model Market Value of AnchorPath Fund 100.00% Market risk benefits asset 134 Discounted Cash Flow Mortality 80.00% - 115.00% (100.00%) Surrender Rates 0.25% - 30.00% (5.22%) Partial Withdrawal Rates 2.00% - 24.39% (2.48%) Non-Performance Spread 0.30% - 0.98% (0.82%) GMWB Utilization 50.00% - 60.00% (50.57%) Total financial assets at fair value (a) $ 1,288 Valuation Technique Unobservable Input(s) Range (Weighted average) Fair Value at September 30, 2024 September 30, 2024 Liabilities Derivatives: Indexed annuity/IUL embedded derivatives, included in contractholder funds $ 5,411 Discounted Cash Flow Market Value of Option 0.00% - 30.14% (4.21%) Mortality Multiplier 80.00% - 115.00% (100.00%) Surrender Rates 0.25% - 50.00% (7.23%) Partial Withdrawals 2.00% - 35.71% (2.72%) Non-Performance Spread 0.30% - 0.98% (0.82%) Option Cost 0.07% - 5.70% (2.61%) Contingent consideration 69 Discounted Cash Flow Risk-Adjusted Discount Rate 13.00% - 13.00% (13.00%) EBITDA Volatility 35.00% - 35.00% (35.00%) Counterparty Discount Rate 6.00% - 6.00% (6.00%) Market risk benefits liability 603 Discounted Cash Flow Mortality 80.00% - 115.00% (100.00%) Surrender Rates 0.25% - 30.00% (5.22%) Partial Withdrawal Rates 2.00% - 24.39% (2.48%) Non-Performance Spread 0.30% - 0.98% (0.82%) GMWB Utilization 50.00% - 60.00% (50.57%) Total financial liabilities at fair value $ 6,083 (a) Assets of $10,234 million for which significant quantitative unobservable inputs are not developed internally and not readily available to the Company (primarily those valued using broker quotes and certain third-party pricing services) are excluded from the respective totals in the table above. Valuation Technique Unobservable Input(s) Range (Weighted average) Fair Value at December 31, 2023 December 31, 2023 Assets Asset-backed securities $ 57 Third-Party Valuation Discount Rate 5.09% - 6.95% (6.00%) Corporates 787 Third-Party Valuation Discount Rate 0.00% - 12.87% (6.91%) Municipals 32 Third-Party Valuation Discount Rate 6.25% - 6.25% (6.25%) Residential mortgage-backed securities 3 Third-Party Valuation Discount Rate 5.46% - 5.46% (5.46%) Foreign Governments 16 Third-Party Valuation Discount Rate 6.94% - 7.68% (7.45%) Investment in unconsolidated affiliates 285 Market Comparable Company Analysis EBITDA Multiple 4.4x - 31.8x (23.2x) Other long-term investments: Available-for-sale embedded derivative 28 Black Scholes Model Market Value of Fund 100.00% Market risk benefits asset 88 Discounted Cash Flow Mortality 100.00% - 100.00% (100.00%) Surrender Rates 0.25% - 10.00% (5.22%) Partial Withdrawal Rates 0.00% - 23.26% (2.50%) Non-Performance Spread 0.38% -1.10% (0.96%) GMWB Utilization 50.00% -60.00% (50.81%) Total financial assets at fair value (a) $ 1,296 Liabilities Derivatives: Indexed annuity/ IUL embedded derivatives, included in contractholder funds $ 4,258 Discounted Cash Flow Market Value of Option 0.00% - 18.93% (2.63%) Mortality Multiplier 100.00% - 100.00% (100.00%) Surrender Rates 0.25% - 70.00% (6.83%) Partial Withdrawals 2.00% - 34.48% (2.74%) Non-Performance Spread 0.38% - 1.10% (0.96%) Option Cost 0.07% - 5.48% (2.38%) Market risk benefits liability 403 Discounted Cash Flow Mortality 100.00% - 100.00% (100.00%) Surrender Rates 0.25% - 10.00% (5.22%) Partial Withdrawal Rates 0.00% - 23.26% (2.50%) Non-Performance Spread 0.38% - 1.10% (0.96%) GMWB Utilization 50.00% -60.00% (50.81%) Total financial liabilities at fair value $ 4,661 (a) Assets of $8,356 million for which significant quantitative unobservable inputs are not developed internally and not readily available to the Company (primarily those valued using broker quotes and certain third-party pricing services) are excluded from the table above.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following tables summarize changes to the Company’s financial instruments carried at fair value and classified within Level 3 of the fair value hierarchy for the three and nine months ended September 30, 2024 and 2023 (in millions). The gains and losses below may include changes in fair value due in part to observable inputs that are a component of the valuation methodology. Three months ended September 30, 2024 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Change in Unrealized Gains (Losses) Incl in OCI Included in Included in AOCI Assets Fixed maturity securities, available-for-sale: Asset-backed securities $ 8,042 $ (3) $ 77 $ 515 $ (30) $ (358) $ (59) $ 8,184 $ 77 Commercial mortgage-backed securities 15 — — — — — (15) — — Corporates 2,350 (2) 65 353 — (43) — 2,723 64 Residential mortgage-backed securities 3 — — — — — — 3 — Foreign Governments 5 — — — — — — 5 — Preferred securities 7 — — — — — — 7 — Derivative investments 8 — (1) — — — (7) — — Investment in unconsolidated affiliates (b) 358 6 — — — — (92) 272 — Short term investments 71 — — 85 — — — 156 — Other long-term investments: Available-for-sale embedded derivative 31 — 3 — — — — 34 3 Credit linked note 6 — — — — (2) — 4 — Subtotal assets at Level 3 fair value $ 10,896 $ 1 $ 144 $ 953 $ (30) $ (403) $ (173) $ 11,388 $ 144 Market risk benefits asset (c) 103 134 Total assets at Level 3 fair value $ 10,999 $ 11,522 Liabilities Indexed annuity/ IUL embedded derivatives, included in contractholder funds $ 4,848 $ 308 $ — $ 390 $ — $ (135) $ — $ 5,411 $ — Interest rate swaps 28 — — — — (28) — Contingent consideration 63 6 — — — — — 69 — Subtotal liabilities at Level 3 fair value $ 4,939 $ 314 $ — $ 390 $ — $ (135) $ (28) $ 5,480 $ — Market risk benefits liability (c) 459 603 Total liabilities at Level 3 fair value $ 5,398 $ 6,083 (a) The net transfers out of Level 3 during the three months ended September 30, 2024 were exclusively to Level 2. (b) The transfer out of investments in unconsolidated affiliates represents F&G’s 30% ownership of PALH prior to the majority acquisition on July 18, 2024. Refer to Note P - Acquisitions for details of the PALH majority acquisition. (c) Refer to Note G - Market Risk Benefits for roll forward activity of the net Market Risk Benefits Asset and Liability. Three months ended September 30, 2023 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Level 3 (a) Balance at End of Change in Unrealized Included in OCI Included in Included in AOCI Assets Fixed maturity securities, available-for-sale: Asset-backed securities $ 6,510 $ (45) $ 75 $ 536 $ (27) $ (171) $ (121) $ 6,757 $ 75 Commercial mortgage-backed securities 17 — — 10 — — — 27 — Corporates 1,618 — (21) 162 — (24) — 1,735 (21) Municipals 49 — (2) — — — — 47 (2) Residential mortgage-backed securities 28 — (1) — — (1) (23) 3 (1) Foreign Governments 16 — — — — — — 16 — Preferred securities 6 — 1 — — — — 7 1 Investment in unconsolidated affiliates 197 — — 75 — — — 272 — Short-term investments 126 — — 65 (19) (103) — 69 — Other long-term investments: Available-for-sale embedded derivative 26 — (3) — — — — 23 (3) Credit linked note 13 — — — — (1) — 12 — Secured borrowing receivable 10 — — — — — — 10 — Subtotal assets at Level 3 fair value $ 8,616 $ (45) $ 49 $ 848 $ (46) $ (300) $ (144) $ 8,978 $ 49 Market risk benefits asset (b) 118 118 Total assets at Level 3 fair value $ 8,734 $ 9,096 Liabilities Indexed annuity/IUL embedded derivatives, included in contractholder funds $ 3,821 $ (796) $ — $ 576 $ — $ (45) $ — $ 3,556 $ — Interest rate swaps — 16 — — — — — 16 — Subtotal liabilities at Level 3 fair value $ 3,821 $ (780) $ — $ 576 $ — $ (45) $ — $ 3,572 $ — Market risk benefits liability (b) 313 278 Total liabilities at Level 3 fair value $ 4,134 $ 3,850 (a) The net transfers out of Level 3 during the three months ended September 30, 2023 were exclusively to Level 2. (b) Refer to Note G - Market Risk Benefits for roll forward activity of the net Market Risk Benefits Asset and Liability. Nine months ended September 30, 2024 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Change in Unrealized Gains (Losses) Incl in OCI Included in Included in AOCI Assets Fixed maturity securities, available-for-sale: Asset-backed securities $ 7,122 $ 12 $ 187 $ 1,981 $ (109) $ (904) $ (105) $ 8,184 $ 184 Commercial mortgage-backed securities 18 — — 58 — — (76) — — Corporates 1,970 (2) 78 873 (93) (85) (18) 2,723 77 Municipals 49 — 1 — (50) — — — 1 Residential mortgage-backed securities 3 — — 1 — — (1) 3 — Foreign Governments 16 — — — — (11) — 5 Preferred securities 7 — — — — — — 7 — Derivative investments 57 (50) — — — — (7) — 1 Investment in unconsolidated affiliates (b) 285 79 — — — — (92) 272 — Short term investments — — — 156 — — — 156 — Other long-term investments: Available-for-sale embedded derivative 27 — 7 — — — — 34 7 Credit linked note 10 1 — — — (7) — 4 — Subtotal assets at Level 3 fair value $ 9,564 $ 40 $ 273 $ 3,069 $ (252) $ (1,007) $ (299) $ 11,388 $ 270 Market risk benefits asset (c) 88 134 Total assets at Level 3 fair value $ 9,652 $ 11,522 Liabilities Indexed annuity/ IUL embedded derivatives, included in contractholder funds $ 4,258 $ 452 $ — $ 1,011 $ — $ (310) $ — $ 5,411 $ — Interest rate swaps — 28 — — — — (28) — — Contingent consideration (d) — 21 — 48 — — — 69 — Subtotal liabilities at Level 3 fair value $ 4,258 $ 501 $ — $ 1,059 $ — $ (310) $ (28) $ 5,480 $ — Market risk benefits liability (c) 403 603 Total liabilities at Level 3 fair value $ 4,661 $ 6,083 (a) The net transfers out of Level 3 during the nine months ended September 30, 2024 were exclusively to Level 2. (b) The transfer out of investments in unconsolidated affiliates represents F&G’s 30% ownership of PALH prior to the majority acquisition on July 18, 2024. Refer to Note P - Acquisitions for details of the PALH majority acquisition. (c) Refer to Note G - Market Risk Benefits for roll forward activity of the net Market Risk Benefits Asset and Liability. (d) The initial contingent consideration recorded in the Roar transaction is included in purchases in the table above. Refer to Note P - Acquisitions for more information. Nine months ended September 30, 2023 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Change in Unrealized Gains (Losses) Incl in OCI Included in Included in AOCI Assets Fixed maturity securities, available-for-sale: Asset-backed securities $ 6,263 $ (56) $ 108 $ 1,331 $ (125) $ (557) $ (207) $ 6,757 $ 107 Commercial mortgage-backed securities 37 — 1 22 — — (33) 27 1 Corporates 1,427 (1) (77) 421 — (43) 8 1,735 (77) Municipals 29 — 18 — — — — 47 18 Residential mortgage-backed securities 302 1 7 32 — (9) (330) 3 7 Foreign Governments 16 — — — — — — 16 — Preferred securities — — 1 — — — 6 7 1 Investment in unconsolidated affiliates (b) 23 — — 249 — — — 272 — Short term investments — — — 191 (19) (103) — 69 — Other long-term investments: Available-for-sale embedded derivative 23 — — — — — — 23 — Credit linked note 15 — — — 0 — (3) — 12 — Secured borrowing receivable 10 — — — — — — 10 — Subtotal assets at Level 3 fair value $ 8,145 $ (56) $ 58 $ 2,246 $ (144) $ (715) $ (556) $ 8,978 $ 57 Market risk benefits asset (b) 117 118 Total assets at Level 3 fair value $ 8,262 $ 9,096 Liabilities Indexed annuity/ IUL embedded derivatives, included in contractholder funds $ 3,115 $ (214) $ — $ 765 $ — $ (110) $ — $ 3,556 $ — Interest rate swaps — 16 — — — — — 16 — Subtotal liabilities at Level 3 fair value $ 3,115 $ (198) $ — $ 765 $ — $ (110) $ — $ 3,572 $ — Market risk benefits liability (b) 282 278 Total liabilities at Level 3 fair value $ 3,397 $ 3,850 (a) The net transfers out of Level 3 during the nine months ended September 30, 2023 were exclusively to Level 2. (b) Refer to Note G - Market Risk Benefits for roll forward activity of the net Market Risk Benefits Asset and Liability.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following tables summarize changes to the Company’s financial instruments carried at fair value and classified within Level 3 of the fair value hierarchy for the three and nine months ended September 30, 2024 and 2023 (in millions). The gains and losses below may include changes in fair value due in part to observable inputs that are a component of the valuation methodology. Three months ended September 30, 2024 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Change in Unrealized Gains (Losses) Incl in OCI Included in Included in AOCI Assets Fixed maturity securities, available-for-sale: Asset-backed securities $ 8,042 $ (3) $ 77 $ 515 $ (30) $ (358) $ (59) $ 8,184 $ 77 Commercial mortgage-backed securities 15 — — — — — (15) — — Corporates 2,350 (2) 65 353 — (43) — 2,723 64 Residential mortgage-backed securities 3 — — — — — — 3 — Foreign Governments 5 — — — — — — 5 — Preferred securities 7 — — — — — — 7 — Derivative investments 8 — (1) — — — (7) — — Investment in unconsolidated affiliates (b) 358 6 — — — — (92) 272 — Short term investments 71 — — 85 — — — 156 — Other long-term investments: Available-for-sale embedded derivative 31 — 3 — — — — 34 3 Credit linked note 6 — — — — (2) — 4 — Subtotal assets at Level 3 fair value $ 10,896 $ 1 $ 144 $ 953 $ (30) $ (403) $ (173) $ 11,388 $ 144 Market risk benefits asset (c) 103 134 Total assets at Level 3 fair value $ 10,999 $ 11,522 Liabilities Indexed annuity/ IUL embedded derivatives, included in contractholder funds $ 4,848 $ 308 $ — $ 390 $ — $ (135) $ — $ 5,411 $ — Interest rate swaps 28 — — — — (28) — Contingent consideration 63 6 — — — — — 69 — Subtotal liabilities at Level 3 fair value $ 4,939 $ 314 $ — $ 390 $ — $ (135) $ (28) $ 5,480 $ — Market risk benefits liability (c) 459 603 Total liabilities at Level 3 fair value $ 5,398 $ 6,083 (a) The net transfers out of Level 3 during the three months ended September 30, 2024 were exclusively to Level 2. (b) The transfer out of investments in unconsolidated affiliates represents F&G’s 30% ownership of PALH prior to the majority acquisition on July 18, 2024. Refer to Note P - Acquisitions for details of the PALH majority acquisition. (c) Refer to Note G - Market Risk Benefits for roll forward activity of the net Market Risk Benefits Asset and Liability. Three months ended September 30, 2023 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Level 3 (a) Balance at End of Change in Unrealized Included in OCI Included in Included in AOCI Assets Fixed maturity securities, available-for-sale: Asset-backed securities $ 6,510 $ (45) $ 75 $ 536 $ (27) $ (171) $ (121) $ 6,757 $ 75 Commercial mortgage-backed securities 17 — — 10 — — — 27 — Corporates 1,618 — (21) 162 — (24) — 1,735 (21) Municipals 49 — (2) — — — — 47 (2) Residential mortgage-backed securities 28 — (1) — — (1) (23) 3 (1) Foreign Governments 16 — — — — — — 16 — Preferred securities 6 — 1 — — — — 7 1 Investment in unconsolidated affiliates 197 — — 75 — — — 272 — Short-term investments 126 — — 65 (19) (103) — 69 — Other long-term investments: Available-for-sale embedded derivative 26 — (3) — — — — 23 (3) Credit linked note 13 — — — — (1) — 12 — Secured borrowing receivable 10 — — — — — — 10 — Subtotal assets at Level 3 fair value $ 8,616 $ (45) $ 49 $ 848 $ (46) $ (300) $ (144) $ 8,978 $ 49 Market risk benefits asset (b) 118 118 Total assets at Level 3 fair value $ 8,734 $ 9,096 Liabilities Indexed annuity/IUL embedded derivatives, included in contractholder funds $ 3,821 $ (796) $ — $ 576 $ — $ (45) $ — $ 3,556 $ — Interest rate swaps — 16 — — — — — 16 — Subtotal liabilities at Level 3 fair value $ 3,821 $ (780) $ — $ 576 $ — $ (45) $ — $ 3,572 $ — Market risk benefits liability (b) 313 278 Total liabilities at Level 3 fair value $ 4,134 $ 3,850 (a) The net transfers out of Level 3 during the three months ended September 30, 2023 were exclusively to Level 2. (b) Refer to Note G - Market Risk Benefits for roll forward activity of the net Market Risk Benefits Asset and Liability. Nine months ended September 30, 2024 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Change in Unrealized Gains (Losses) Incl in OCI Included in Included in AOCI Assets Fixed maturity securities, available-for-sale: Asset-backed securities $ 7,122 $ 12 $ 187 $ 1,981 $ (109) $ (904) $ (105) $ 8,184 $ 184 Commercial mortgage-backed securities 18 — — 58 — — (76) — — Corporates 1,970 (2) 78 873 (93) (85) (18) 2,723 77 Municipals 49 — 1 — (50) — — — 1 Residential mortgage-backed securities 3 — — 1 — — (1) 3 — Foreign Governments 16 — — — — (11) — 5 Preferred securities 7 — — — — — — 7 — Derivative investments 57 (50) — — — — (7) — 1 Investment in unconsolidated affiliates (b) 285 79 — — — — (92) 272 — Short term investments — — — 156 — — — 156 — Other long-term investments: Available-for-sale embedded derivative 27 — 7 — — — — 34 7 Credit linked note 10 1 — — — (7) — 4 — Subtotal assets at Level 3 fair value $ 9,564 $ 40 $ 273 $ 3,069 $ (252) $ (1,007) $ (299) $ 11,388 $ 270 Market risk benefits asset (c) 88 134 Total assets at Level 3 fair value $ 9,652 $ 11,522 Liabilities Indexed annuity/ IUL embedded derivatives, included in contractholder funds $ 4,258 $ 452 $ — $ 1,011 $ — $ (310) $ — $ 5,411 $ — Interest rate swaps — 28 — — — — (28) — — Contingent consideration (d) — 21 — 48 — — — 69 — Subtotal liabilities at Level 3 fair value $ 4,258 $ 501 $ — $ 1,059 $ — $ (310) $ (28) $ 5,480 $ — Market risk benefits liability (c) 403 603 Total liabilities at Level 3 fair value $ 4,661 $ 6,083 (a) The net transfers out of Level 3 during the nine months ended September 30, 2024 were exclusively to Level 2. (b) The transfer out of investments in unconsolidated affiliates represents F&G’s 30% ownership of PALH prior to the majority acquisition on July 18, 2024. Refer to Note P - Acquisitions for details of the PALH majority acquisition. (c) Refer to Note G - Market Risk Benefits for roll forward activity of the net Market Risk Benefits Asset and Liability. (d) The initial contingent consideration recorded in the Roar transaction is included in purchases in the table above. Refer to Note P - Acquisitions for more information. Nine months ended September 30, 2023 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Change in Unrealized Gains (Losses) Incl in OCI Included in Included in AOCI Assets Fixed maturity securities, available-for-sale: Asset-backed securities $ 6,263 $ (56) $ 108 $ 1,331 $ (125) $ (557) $ (207) $ 6,757 $ 107 Commercial mortgage-backed securities 37 — 1 22 — — (33) 27 1 Corporates 1,427 (1) (77) 421 — (43) 8 1,735 (77) Municipals 29 — 18 — — — — 47 18 Residential mortgage-backed securities 302 1 7 32 — (9) (330) 3 7 Foreign Governments 16 — — — — — — 16 — Preferred securities — — 1 — — — 6 7 1 Investment in unconsolidated affiliates (b) 23 — — 249 — — — 272 — Short term investments — — — 191 (19) (103) — 69 — Other long-term investments: Available-for-sale embedded derivative 23 — — — — — — 23 — Credit linked note 15 — — — 0 — (3) — 12 — Secured borrowing receivable 10 — — — — — — 10 — Subtotal assets at Level 3 fair value $ 8,145 $ (56) $ 58 $ 2,246 $ (144) $ (715) $ (556) $ 8,978 $ 57 Market risk benefits asset (b) 117 118 Total assets at Level 3 fair value $ 8,262 $ 9,096 Liabilities Indexed annuity/ IUL embedded derivatives, included in contractholder funds $ 3,115 $ (214) $ — $ 765 $ — $ (110) $ — $ 3,556 $ — Interest rate swaps — 16 — — — — — 16 — Subtotal liabilities at Level 3 fair value $ 3,115 $ (198) $ — $ 765 $ — $ (110) $ — $ 3,572 $ — Market risk benefits liability (b) 282 278 Total liabilities at Level 3 fair value $ 3,397 $ 3,850 (a) The net transfers out of Level 3 during the nine months ended September 30, 2023 were exclusively to Level 2. (b) Refer to Note G - Market Risk Benefits for roll forward activity of the net Market Risk Benefits Asset and Liability.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Consolidated Investments	The Company’s consolidated investments are summarized as follows (in millions): September 30, 2024 Amortized Cost Allowance for Expected Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value AFS securities Asset-backed securities $ 15,979 $ (12) $ 264 $ (275) $ 15,956 Commercial mortgage-backed securities 5,304 (49) 60 (191) 5,124 Corporates 22,302 — 381 (2,072) 20,611 Hybrids 609 — 6 (19) 596 Municipals 1,635 — 20 (182) 1,473 Residential mortgage-backed securities 2,608 (1) 61 (77) 2,591 U.S. Government 352 — 2 (2) 352 Foreign Governments 237 — 3 (34) 206 Total AFS securities $ 49,026 $ (62) $ 797 $ (2,852) $ 46,909 December 31, 2023 Amortized Cost Allowance for Expected Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value AFS securities Asset-backed securities $ 14,623 $ (11) $ 191 $ (469) $ 14,334 Commercial mortgage-backed securities 4,732 (22) 23 (323) 4,410 Corporates 18,780 — 178 (2,379) 16,579 Hybrids 668 — 3 (53) 618 Municipals 1,776 — 14 (223) 1,567 Residential mortgage-backed securities 2,501 (2) 29 (104) 2,424 U.S. Government 258 — 4 (1) 261 Foreign Governments 263 — 2 (39) 226 Total AFS securities $ 43,601 $ (35) $ 444 $ (3,591) $ 40,419
Investments Classified by Contractual Maturity Date	The amortized cost and fair value of fixed maturity securities by contractual maturities, as applicable, are shown below (in millions). Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. September 30, 2024 December 31, 2023 Amortized Cost Fair Value Amortized Cost Fair Value Corporates, Non-structured Hybrids, Municipal, Foreign and U.S. Government Securities: Due in one year or less $ 451 $ 450 $ 383 $ 374 Due after one year through five years 3,945 3,943 3,207 3,129 Due after five years through ten years 4,570 4,571 2,822 2,680 Due after ten years 16,169 14,274 15,333 13,068 Subtotal 25,135 23,238 21,745 19,251 Other securities, which provide for periodic payments: Asset-backed securities 15,979 15,956 14,623 14,334 Commercial mortgage-backed securities 5,304 5,124 4,732 4,410 Residential mortgage-backed securities 2,608 2,591 2,501 2,424 Subtotal 23,891 23,671 21,856 21,168 Total fixed maturity AFS securities $ 49,026 $ 46,909 $ 43,601 $ 40,419
Activity in Allowance for Credit Loses of Available-for-sale Securities Aggregated by Investment Category	The activity in the allowance for expected credit losses of AFS securities aggregated by investment category was as follows (in millions): Three months ended September 30, 2024 Additions Reductions Balance at Beginning of Period For credit losses on securities for which losses were not previously recorded (Additions) reductions in allowance recorded on previously impaired securities For securities sold during the period For securities intended/required to be sold prior to recovery of amortized cost basis Write offs charged against the allowance Recoveries of amounts previously written off Balance at End of Period AFS securities Asset-backed securities $ (11) $ (1) $ — $ — $ — $ — $ — $ (12) Commercial mortgage-backed securities (46) (3) — — — — — (49) Residential mortgage-backed securities (1) 1 (1) — — — — (1) Total AFS securities $ (58) $ (3) $ (1) $ — $ — $ — $ — $ (62) Three months ended September 30, 2023 Additions Reductions Balance at Beginning of Period For credit losses on securities for which losses were not previously recorded (Additions) reductions in allowance recorded on previously impaired securities For securities sold during the period For securities intended/required to be sold prior to recovery of amortized cost basis Write offs charged against the allowance Recoveries of amounts previously written off Balance at End of Period AFS securities Asset-backed securities $ (7) $ (7) $ (4) $ — $ — $ — — $ (18) Commercial mortgage-backed securities (18) (1) 2 — — — — (17) Residential mortgage-backed securities (7) (3) 7 — — — — (3) Total AFS securities $ (32) $ (11) $ 5 $ — $ — $ — $ — $ (38) Nine months ended September 30, 2024 Additions Reductions Balance at Beginning of Period For credit losses on securities for which losses were not previously recorded (Additions) reductions in allowance recorded on previously impaired securities For securities sold during the period For securities intended/required to be sold prior to recovery of amortized cost basis Write offs charged against the allowance Recoveries of amounts previously written off Balance at End of Period AFS securities Asset-backed securities $ (11) $ (2) $ 1 $ — $ — $ — $ — $ (12) Commercial mortgage-backed securities (22) (8) (19) — — — — (49) Residential mortgage-backed securities (2) — 1 — — — — (1) Total AFS securities $ (35) $ (10) $ (17) $ — $ — $ — $ — $ (62) Nine months ended September 30, 2023 Additions Reductions Balance at Beginning of Period For credit losses on securities for which losses were not previously recorded (Additions) reductions in allowance recorded on previously impaired securities For securities sold during the period For securities intended/required to be sold prior to recovery of amortized cost basis Write offs charged against the allowance Recoveries of amounts previously written off Balance at End of Period AFS securities Asset-backed securities $ (8) $ (13) $ 3 $ — $ — $ — — $ (18) Commercial mortgage-backed securities (1) (21) 5 — — — — (17) Corporates (15) — — 15 — — — — Residential mortgage-backed securities (7) (4) 8 — — — — (3) Total AFS securities $ (31) $ (38) $ 16 $ 15 $ — $ — $ — $ (38)
Fair Value and Gross Unrealized Losses of Available-for-sale Securities	The fair value and gross unrealized losses of AFS securities, excluding securities in an unrealized loss position with an allowance for expected credit loss, aggregated by investment category and duration of fair value below amortized cost as of September 30, 2024 and December 31, 2023 were as follows (dollars in millions): September 30, 2024 Less than 12 months 12 months or longer Total Fair Value Gross Unrealized Fair Value Gross Unrealized Fair Value Gross Unrealized AFS securities Asset-backed securities $ 583 $ (19) $ 3,447 $ (237) $ 4,030 $ (256) Commercial mortgage-backed securities 199 (5) 1,674 (168) 1,873 (173) Corporates 1,223 (7) 9,973 (2,065) 11,196 (2,072) Hybrids 47 (1) 393 (18) 440 (19) Municipals 82 (1) 1,047 (181) 1,129 (182) Residential mortgage-backed securities 188 (3) 445 (68) 633 (71) U.S. Government 256 (1) 10 (1) 266 (2) Foreign Government — — 145 (34) 145 (34) Total AFS securities $ 2,578 $ (37) $ 17,134 $ (2,772) $ 19,712 $ (2,809) Total number of AFS in an unrealized loss position less than twelve months 529 Total number of AFS securities in an unrealized loss position twelve months or longer 2,200 Total number of AFS securities in an unrealized loss position 2,729 December 31, 2023 Less than 12 months 12 months or longer Total Fair Value Gross Unrealized Fair Value Gross Unrealized Fair Value Gross Unrealized AFS securities Asset-backed securities $ 1,707 $ (56) $ 5,835 $ (404) $ 7,542 $ (460) Commercial mortgage-backed securities 798 (53) 1,916 (234) 2,714 (287) Corporates 2,273 (128) 9,779 (2,251) 12,052 (2,379) Hybrids 60 (2) 483 (51) 543 (53) Municipals 392 (48) 884 (174) 1,276 (222) Residential mortgage-backed securities 334 (5) 660 (89) 994 (94) U.S. Government 5 — 9 (1) 14 (1) Foreign Government 25 (1) 145 (38) 170 (39) Total AFS securities $ 5,594 $ (293) $ 19,711 $ (3,242) $ 25,305 $ (3,535) Total number of AFS securities in an unrealized loss position less than twelve months 927 Total number of AFS securities in an unrealized loss position twelve months or longer 2,602 Total number of AFS securities in an unrealized loss position 3,529
Schedule of Distribution of CMLs, Gross Valuation by Property Type and Geographic Region	The distribution of CMLs, gross of valuation allowances, by property type and geographic region is reflected in the following tables (dollars in millions): September 30, 2024 December 31, 2023 Gross Carrying Value % of Total Gross Carrying Value % of Total Property Type: Hotel $ 17 1 % $ 18 1 % Industrial 617 24 616 24 Mixed Use 11 — 11 — Multifamily 1,006 39 1,012 40 Office 356 14 316 13 Retail 99 4 102 4 Student Housing 83 3 83 3 Other 401 15 392 15 Total CMLs, gross of valuation allowance 2,590 100 % 2,550 100 % Allowance for expected credit loss (18) (12) Total CMLs, net of valuation allowance $ 2,572 $ 2,538 U.S. Region: East North Central $ 98 4 % $ 151 6 % East South Central 75 3 75 3 Middle Atlantic 354 14 354 14 Mountain 409 16 352 14 New England 164 6 168 6 Pacific 713 27 766 30 South Atlantic 595 23 563 22 West North Central 22 1 4 — West South Central 160 6 117 5 Total CMLs, gross of valuation allowance 2,590 100 % 2,550 100 % Allowance for expected credit loss (18) (12) Total CMLs, net of valuation allowance $ 2,572 $ 2,538
Loans Segregated by Risk Rating Exposure	CMLs segregated by aging of the loans and charge offs (by year of origination) as of September 30, 2024 and December 31, 2023, were as follows, gross of valuation allowances (in millions): September 30, 2024 Amortized Cost by Origination Year 2024 2023 2022 2021 2020 Prior Total Current (less than 30 days past due) $ 140 $ 221 $ 289 $ 1,253 $ 469 $ 209 $ 2,581 30-89 days past due — — — — — 9 9 90 days or more past due — — — — — — — Total CMLs $ 140 $ 221 $ 289 $ 1,253 $ 469 $ 218 $ 2,590 Charge offs $ — $ — $ — $ — $ — $ — $ — December 31, 2023 Amortized Cost by Origination Year 2023 2022 2021 2020 2019 Prior Total Current (less than 30 days past due) $ 213 $ 288 $ 1,256 $ 512 $ — $ 259 $ 2,528 30-89 days past due — — — — — — — 90 days or more past due — — — — — — — Total CMLs (a) $ 213 $ 288 $ 1,256 $ 512 $ — $ 259 $ 2,528 Charge offs $ — $ — $ — $ — $ — $ 3 $ 3 (a) Excludes loans under development with an amortized cost and estimated fair value of $22 million. September 30, 2024 Amortized Cost by Origination Year 2024 2023 2022 2021 2020 Prior Total Current (less than 30 days past due) $ 387 $ 372 $ 928 $ 822 $ 168 $ 317 $ 2,994 30-89 days past due 6 3 9 8 4 7 37 90 days or more past due — 2 9 28 10 25 74 Total RML mortgages $ 393 $ 377 $ 946 $ 858 $ 182 $ 349 $ 3,105 December 31, 2023 Amortized Cost by Origination Year 2023 2022 2021 2020 2019 Prior Total Current (less than 30 days past due) $ 373 $ 985 $ 854 $ 192 $ 183 $ 192 $ 2,779 30-89 days past due — 4 7 3 — 2 16 90 days or more past due — 6 16 13 21 1 57 Total RML mortgages $ 373 $ 995 $ 877 $ 208 $ 204 $ 195 $ 2,852
Schedule of Investment in Mortgage Loans by Loan to Value and Debt Service Coverage Ratios	The following tables present the recorded investment in CMLs by LTV and DSC ratio categories and estimated fair value by the indicated loan-to-value ratios, gross of valuation allowances at September 30, 2024 and December 31, 2023 (dollars in millions) : Debt-Service Coverage Ratios Total Amount % of Total Estimated Fair Value % of Total >1.25 1.00 - 1.25 <1.00 September 30, 2024 LTV Ratios: Less than 50.00% $ 499 $ 8 $ 9 $ 516 20 % $ 501 21 % 50.00% to 59.99% 749 59 12 820 31 752 32 60.00% to 74.99% 1,182 57 — 1,239 48 1,074 46 75.00% to 84.99% — 6 9 15 1 15 1 Total CMLs $ 2,430 $ 130 $ 30 $ 2,590 100 % $ 2,342 100 % December 31, 2023 LTV Ratios: Less than 50.00% $ 519 $ 4 $ 10 $ 533 21 % $ 510 23 % 50.00% to 59.99% 764 — — 764 30 679 30 60.00% to 74.99% 1,160 56 — 1,216 48 1,028 46 75.00% to 84.99% — 6 9 15 1 14 1 Total CMLs (a) $ 2,443 $ 66 $ 19 $ 2,528 100 % $ 2,231 100 % (a) Excludes loans under development with an amortized cost and estimated fair value of $22 million. September 30, 2024 Amortized Cost by Origination Year 2024 2023 2022 2021 2020 Prior Total LTV Ratios: Less than 50.00% $ 58 $ 93 $ 18 $ 74 $ 189 $ 84 $ 516 50.00% to 59.99% 59 53 149 267 158 134 820 60.00% to 74.99% 23 69 113 912 122 — 1,239 75.00% to 84.99% — 6 9 — — — 15 Total CMLs $ 140 $ 221 $ 289 $ 1,253 $ 469 $ 218 $ 2,590 DSCR Greater than 1.25x $ 72 $ 161 $ 278 $ 1,241 $ 469 $ 209 $ 2,430 1.00x - 1.25x 67 60 3 — — — 130 Less than 1.00x 1 — 8 12 — 9 30 Total CMLs $ 140 $ 221 $ 289 $ 1,253 $ 469 $ 218 $ 2,590 December 31, 2023 Amortized Cost by Origination Year 2023 2022 2021 2020 2019 Prior Total LTV Ratios: Less than 50.00% $ 85 $ 17 $ 77 $ 232 $ — $ 122 $ 533 50.00% to 59.99% 53 149 267 158 — 137 764 60.00% to 74.99% 69 113 912 122 — — 1,216 75.00% to 84.99% 6 9 — — — — 15 Total CMLs (a) $ 213 $ 288 $ 1,256 $ 512 $ — $ 259 $ 2,528 DSCR Greater than 1.25x $ 154 $ 276 $ 1,256 $ 512 $ — $ 245 $ 2,443 1.00x - 1.25x 59 3 — — — 4 66 Less than 1.00x — 9 — — — 10 19 Total CMLs (a) $ 213 $ 288 $ 1,256 $ 512 $ — $ 259 $ 2,528 (a)
Distribution of Residential Mortgage Loans by State	The distribution of RMLs by state with highest-to-lowest concentration are reflected in the following tables, gross of valuation allowances (dollars in millions): September 30, 2024 Amortized Cost % of Total U.S. State: Florida $ 160 5 % All other states (a) 2,945 95 Total RMLs, gross of valuation allowance 3,105 100 % Allowance for expected credit loss (51) Total RMLs, net of valuation allowance $ 3,054 (a) The individual concentration of each state is less than 5% as of September 30, 2024. December 31, 2023 Amortized Cost % of Total U.S. State: Florida $ 163 6 % New York 129 5 Texas 129 5 All other states (a) 2,431 84 Total RMLs, gross of valuation allowance 2,852 100 % Allowance for expected credit loss (54) Total RMLs, net of valuation allowance $ 2,798 (a) The individual concentration of each state is less than 5% as of December 31, 2023.
Schedule of Loans with Credit Quality Indicators, Performing or Nonperforming	The credit quality of RMLs as of September 30, 2024 and December 31, 2023, was as follows (dollars in millions): September 30, 2024 December 31, 2023 Performance indicators: Amortized Cost % of Total Amortized Cost % of Total Performing $ 3,031 98 % $ 2,795 98 % Non-performing 74 2 57 2 Total RMLs, gross of valuation allowance 3,105 100 % 2,852 100 % Allowance for expected loan loss (51) (54) Total RMLs, net of valuation allowance $ 3,054 $ 2,798
Nonaccrual Loans by Amortized Cost	Non-accrual loans by amortized cost as of September 30, 2024 and December 31, 2023, were as follows (in millions): Amortized cost of loans on non-accrual September 30, 2024 December 31, 2023 Residential mortgage: $ 74 $ 57 Commercial mortgage: — — Total non-accrual mortgages $ 74 $ 57
Allowance for Expected Credit Losses on Loans	The allowances for our mortgage loan portfolio are summarized as follows (in millions): Three months ended September 30, 2024 Nine months ended September 30, 2024 Residential Mortgage Commercial Mortgage Total Residential Mortgage Commercial Mortgage Total Beginning Balance $ (50) $ (14) $ (64) $ (54) $ (12) $ (66) Provision (expense) benefit for loan losses (1) (4) (5) 3 (6) (3) Ending Balance $ (51) $ (18) $ (69) $ (51) $ (18) $ (69) Three months ended September 30, 2023 Nine months ended September 30, 2023 Residential Mortgage Commercial Mortgage Total Residential Mortgage Commercial Mortgage Total Beginning Balance $ (51) $ (13) $ (64) $ (32) $ (10) $ (42) Provision (expense) benefit for loan losses 2 (2) — (17) (5) (22) Ending Balance $ (49) $ (15) $ (64) $ (49) $ (15) $ (64)
Schedule of Sources of Net Investment Income Reported	The major sources of Interest and investment income reported on the accompanying unaudited Condensed Consolidated Statements of Operations were as follows (in millions): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Fixed maturity securities, available-for-sale $ 562 $ 476 $ 1,620 $ 1,356 Equity securities 5 5 16 14 Preferred securities 5 9 18 31 Mortgage loans 69 59 200 167 Invested cash and short-term investments 53 19 115 52 Limited partnerships 83 68 234 169 Other investments 9 5 25 19 Gross investment income 786 641 2,228 1,808 Investment expense (74) (63) (216) (186) Interest and investment income $ 712 $ 578 $ 2,012 $ 1,622
Recognized Gains (Losses) Net	Details underlying Recognized gains and (losses), net reported on the accompanying unaudited Condensed Consolidated Statements of Operations were as follows (in millions): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Net realized gains (losses) on fixed maturity available-for-sale securities $ (2) $ (32) $ 2 $ (128) Net realized/unrealized gains on equity securities (a) 3 7 11 15 Net realized/unrealized gains (losses) on preferred securities (b) 9 2 17 (2) Net realized/unrealized gains on other invested assets 4 12 69 27 Change in allowance for expected credit losses (10) (4) (33) (33) Derivatives and embedded derivatives: Realized gains (losses) on certain derivative instruments 30 (30) 65 (184) Unrealized gains (losses) on certain derivative instruments 347 (297) 450 14 Change in fair value of reinsurance related embedded derivatives (c) (178) 36 (186) 34 Change in fair value of other derivatives and embedded derivatives 3 (3) 6 — Realized gains (losses) on derivatives and embedded derivatives 202 (294) 335 (136) Recognized gains and (losses), net $ 206 $ (309) $ 401 $ (257) (a) Includes net valuation gains of $4 million and $7 million for the three months ended September 30, 2024 and September 30, 2023, respectively, and net valuation gains of $12 million and $15 million for the nine months ended September 30, 2024 and September 30, 2023, respectively. (b) Includes net valuation gains of $9 million and $3 million for the three months ended September 30, 2024 and September 30, 2023, respectively, and net valuation gains of $17 million and $47 million for the nine months ended September 30, 2024 and September 30, 2023, respectively. (c) Change in fair value of reinsurance related embedded derivatives is due to activity related to reinsurance treaties.
Proceeds from Sale of Fixed Maturity Available-for-sale Securities	The proceeds from the sale of fixed-maturity securities and the gross gains and losses associated with those transactions were as follows (in millions): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Proceeds $ 1,471 $ 868 $ 2,626 $ 1,921 Gross gains 18 2 36 7 Gross losses (20) (27) (52) (106)
Schedule of Carrying Value and Maximum Loss Exposure, Unconsolidated VIEs	The following table summarizes the carrying value and the maximum loss exposure of our unconsolidated VIEs as of September 30, 2024 and December 31, 2023 (in millions): September 30, 2024 December 31, 2023 Carrying Value Maximum Loss Exposure Carrying Value Maximum Loss Exposure Investment in unconsolidated affiliates $ 3,666 $ 4,814 $ 3,071 $ 4,806 Fixed maturity securities 23,343 24,120 20,837 22,346 Total unconsolidated VIE investments $ 27,009 $ 28,934 $ 23,908 $ 27,152
Schedules of Investment Concentrations	Our underlying investment concentrations that exceed 10% of shareholders equity are as follows (in millions): September 30, 2024 December 31, 2023 Blackstone Wave Asset Holdco (a) $ 716 $ 725 Blackstone Cooper Asset Holdco (a) 522 — Elba (b) (c) — 463 COLI (c) — 324 (a) Represents a special purpose vehicle that holds investments in numerous limited partnership investments whose underlying investments are further diversified by holding interest in multiple individual investments and industries. (b) Represents special purpose vehicles that hold an underlying minority ownership interest in a single operating liquified natural gas export facility. (c) Investment did not exceed 10% of shareholder’s equity as of September 30, 2024.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Carrying Amount of Derivative Instruments	The carrying amounts of derivative instruments, including derivative instruments embedded in indexed annuities and IUL contracts, and reinsurance is as follows (in millions): September 30, 2024 December 31, 2023 Assets: Derivative investments: Equity options $ 1,293 $ 739 Interest rate swaps 108 57 Other derivative investments — 1 Other long-term investments: Other embedded derivatives 34 28 Prepaid expenses and other assets: Reinsurance related embedded derivatives — 152 Total $ 1,435 $ 977 Liabilities: Contractholder funds: Indexed annuities/ IUL embedded derivatives $ 5,411 $ 4,258 Accounts payable and accrued liabilities: Reinsurance related embedded derivatives 34 — Total $ 5,445 $ 4,258
Change in Fair Value of Derivative Instruments	The change in fair value of derivative instruments included within Recognized gains and (losses), net in the accompanying unaudited Condensed Consolidated Statements of Operations is as follows (in millions): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Net investment gains (losses): Equity options $ 260 $ (308) $ 487 $ (155) Interest rate swaps 114 (19) 9 (19) Futures contracts 7 (4) 18 1 Other derivative investments (4) 4 1 3 Other embedded derivatives 3 (3) 6 — Reinsurance related embedded derivatives (178) 36 (186) 34 Total net investment gains $ 202 $ (294) $ 335 $ (136) Benefits and other changes in policy reserves: Indexed annuities/ IUL embedded derivatives increase $ 563 $ (265) $ 1,153 $ 441
Schedule of Exposure to Credit Loss on Call Options	Information regarding our exposure to credit loss on the derivative instruments we hold, excluding futures contracts, is presented below (in millions): Notional Amount Fair Value Collateral Net Credit Risk September 30, 2024 $ 35,435 $ 1,393 $ 1,348 $ 53 December 31, 2023 29,968 796 775 39

Reinsurance (Tables)

Reinsurance (Tables)	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
Schedule of Effect of Reinsurance on Premiums Earned and Benefits Incurred and Reserve Changes	The effects of reinsurance on net premiums earned and net benefits incurred (benefits paid and reserve changes) for the three and nine months ended September 30, 2024 and September 30, 2023 were as follows (in millions): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Direct $ 363 $ 1,127 $ 508 $ 323 $ 1,340 $ 2,999 $ 1,319 $ 2,057 Ceded (23) (32) (26) (31) (71) (135) (79) (136) Net $ 340 $ 1,095 $ 482 $ 292 $ 1,269 $ 2,864 $ 1,240 $ 1,921
Schedule of Reinsurance Recoverable	The following summarizes our reinsurance recoverable (in millions) as of September 30, 2024 and December 31, 2023: Parent Company/ Reinsurance Recoverable (a) Agreement Type Products Accounting September 30, 2024 December 31, 2023 Aspida Life Re Ltd $ 7,543 $ 6,128 Coinsurance Funds Withheld Certain MYGA (b) Deposit Somerset Reinsurance Ltd (c) 2,181 716 Coinsurance Funds Withheld Certain MYGA (b) and deferred annuities Deposit Coinsurance Funds Withheld Certain FIA Reinsurance Everlake Life Insurance Company 1,120 509 Coinsurance (d) Certain MYGA (b) (d) Deposit Wilton Reassurance Company 1,073 1,092 Coinsurance Block of traditional, IUL and UL (e) Reinsurance Other (f) 508 536 Reinsurance recoverable, gross of allowance for credit losses 12,425 8,981 Allowance for expected credit loss (21) (21) Reinsurance recoverable, net of allowance for credit losses $ 12,404 $ 8,960 (a) Reinsurance recoverables do not include unearned ceded premiums that would be recovered in the event of early termination of certain traditional life policies. (b) The combined quota share flow reinsurance amongst all reinsurers for 2024 was 90% through May 31, 2024, decreased to 30% in June and July 2024, and increased to 90% in August and September 2024. As of December 31, 2023, the combined quota share flow reinsurance amongst all reinsurers was 90%. (c) The balance represents the total reinsurance recoverable for all reinsurance agreements with Somerset. (d) Reinsurance recoverable is collateralized by assets placed in a statutory comfort trust by the reinsurer and maintained for our sole benefit. (e) Also includes certain FGL Insurance life insurance policies that are subject to redundant reserves, reported on a statutory basis, under Regulation XXX and Guideline AXXX. (f) Represents all other reinsurers, with no single reinsurer having a carrying value in excess of 5% of total reinsurance recoverable.
Reinsurance Recoverable, Allowance for Credit Loss	The expected credit loss reserves were as follows (in millions): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Balance at beginning of period $ (21) $ (9) $ (21) $ (10) Changes in the expected credit loss reserve — (1) — — Balance at end of period $ (21) $ (10) $ (21) $ (10)
Schedule of Credit Ratings of Principal Reinsurers	The following table presents financial strength ratings as of September 30, 2024: Parent Company/Principal Reinsurers Financial Strength Rating AM Best S&P Fitch Moody's Aspida Re A- — — — Somerset A- BBB+ — — Everlake A — — — Wilton Re A+ — A —

Intangibles (Tables)

Intangibles (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The following table reconciles to Other intangible assets, net, on the unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (in millions): September 30, 2024 December 31, 2023 Value of business acquired (“VOBA”) $ 1,389 $ 1,446 Deferred acquisition costs (“DAC”) 2,857 2,215 Deferred sales inducements (“DSI”) 538 346 Value of distribution asset 76 86 Computer software 73 65 Definite lived trademarks, tradenames, and other 125 41 Indefinite lived tradenames and other 8 8 Customer relationships 283 — Total Other intangible assets, net $ 5,349 $ 4,207
Schedule of Indefinite-Lived Intangible Assets	The following table reconciles to Other intangible assets, net, on the unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (in millions): September 30, 2024 December 31, 2023 Value of business acquired (“VOBA”) $ 1,389 $ 1,446 Deferred acquisition costs (“DAC”) 2,857 2,215 Deferred sales inducements (“DSI”) 538 346 Value of distribution asset 76 86 Computer software 73 65 Definite lived trademarks, tradenames, and other 125 41 Indefinite lived tradenames and other 8 8 Customer relationships 283 — Total Other intangible assets, net $ 5,349 $ 4,207
Rollforward of Value of Business Acquired	The following tables roll forward VOBA by product for the nine months ended September 30, 2024 and September 30, 2023 (in millions): Indexed Annuities Fixed Rate Annuities Immediate Annuities Universal Life Traditional Life Total Balance at January 1, 2024 $ 1,025 $ 27 $ 191 $ 134 $ 69 $ 1,446 Amortization (101) (4) (5) (5) (5) (120) Actuarial model updates and refinements (a) — — — — 63 63 Balance at September 30, 2024 $ 924 $ 23 $ 186 $ 129 $ 127 $ 1,389 (a) net of amortization of ($15 million). Indexed Annuities Fixed Rate Annuities Immediate Annuities Universal Life Traditional Life Total Balance at January 1, 2023 $ 1,166 $ 32 $ 201 $ 143 $ 73 $ 1,615 Amortization (106) (4) (8) (7) (3) (128) Balance at September 30, 2023 $ 1,060 $ 28 $ 193 $ 136 $ 70 $ 1,487
Rollforward of Deferred Policy Acquisition Costs	The following tables roll forward DAC by product for the nine months ended September 30, 2024 and September 30, 2023 (in millions): Indexed Annuities Fixed Rate Annuities Universal Life Total (a) Balance at January 1, 2024 $ 1,378 $ 288 $ 545 $ 2,211 Capitalization 496 147 199 842 Amortization (112) (61) (27) (200) Balance at September 30, 2024 $ 1,762 $ 374 $ 717 $ 2,853 Indexed Annuities Fixed Rate Annuities Universal Life Total (a) Balance at January 1, 2023 $ 971 $ 83 $ 348 $ 1,402 Capitalization 371 119 167 657 Amortization (75) (35) (25) (135) Reinsurance related adjustments — 79 — 79 Balance at September 30, 2023 $ 1,267 $ 246 $ 490 $ 2,003 (a) Excludes insignificant amounts of DAC related to Funding Agreement Backed Note (“FABN”).
Schedule of Reconciliation of Deferred Policy Acquisition Cost to Statement of Financial Position	The following table presents a reconciliation of DAC to the table above which is reconciled to the unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (in millions): September 30, 2024 December 31, 2023 Indexed Annuities $ 1,762 $ 1,378 Fixed Rate Annuities 374 288 Universal Life 717 545 Funding Agreements 4 4 Total $ 2,857 $ 2,215
Rollforward of Deferred Sale Inducement Cost	The following table rolls forward DSI for our indexed annuity products for the nine months ended September 30, 2024 and September 30, 2023 (in millions): Nine Months Ended September 30, 2024 2023 Balance at January 1, $ 346 $ 200 Capitalization 219 112 Amortization (27) (15) Balance at September 30, $ 538 $ 297
Finite-Lived Intangible Assets Rollforward Schedule	The following table rolls forward the customer relationship intangibles acquired in the Roar acquisition on January 2, 2024, and the PALH acquisition on July 18, 2024, (in millions). For more information, refer to Note P - Acquisitions. Nine Months Ended September 30, 2024 Balance at January 1, $ — Acquired 310 Amortization (27) Balance at September 30, $ 283
Estimated Amortization Expense in Future Periods for Customer Relationship Intangibles and VOBA	The following table shows the estimated amortization expense in future fiscal periods for customer relationship intangibles and VOBA for the in-force liabilities as of September 30, 2024 (in millions): Customer Relationship Intangibles VOBA Fiscal Year 2024 $ 10 $ 38 2025 35 143 2026 30 130 2027 26 119 2028 23 108 Thereafter 159 851 Total $ 283 $ 1,389

Market Risk Benefits (Tables)

Market Risk Benefits (Tables)	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
Schedule of Balances and Changes in Market Risk Benefit	The following table presents the balances of and changes in MRBs associated with indexed annuities and fixed rate annuities for the nine months ended September 30, 2024 and the year ended December 31, 2023 (in millions): September 30, 2024 December 31, 2023 Indexed Fixed rate Indexed Fixed rate Balance, beginning of period, net liability $ 314 $ 1 $ 164 $ 1 Balance, beginning of period, before effect of changes in the instrument-specific credit risk $ 209 $ 1 $ 102 $ 1 Issuances and benefit payments 78 — (10) — Attributed fees collected and interest accrual 103 — 131 — Actual policyholder behavior different from expected 8 — 27 — Changes in assumptions and other 32 — 29 — Effects of market related movements (31) — (70) — Balance, end of period, before effect of changes in the instrument-specific credit risk 399 1 209 1 Effect of changes in the instrument-specific credit risk 112 — 105 — Balance, end of period, net liability 511 1 314 1 Less: reinsured market risk benefits 43 — — — Balance, end of period, net of reinsurance $ 468 $ 1 $ 314 $ 1 Weighted-average attained age of policyholders weighted by total AV (years) 68.04 72.47 68.28 72.59 Net amount at risk $ 1,390 $ 2 $ 1,059 $ 2
Schedule of Market Risk Benefit, Asset And Liability	The following table reconciles MRBs by amounts in an asset position and amounts in a liability position to the MRBs amounts in the unaudited Condensed Consolidated Balance Sheets (in millions): September 30, 2024 December 31, 2023 Direct Reinsured Net Direct Reinsured Net MRB asset Indexed annuities $ 91 $ 43 $ 134 $ 88 $ — $ 88 Fixed rate annuities — — — — — — Total MRB asset $ 91 $ 43 $ 134 $ 88 $ — $ 88 MRB liability Indexed annuities $ 602 $ — $ 602 $ 402 $ — $ 402 Fixed rate annuities 1 — 1 1 — 1 Total MRB liability $ 603 $ — $ 603 $ 403 $ — $ 403

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Impacts of the LIHTC Investments	The following table presents the impacts of the LIHTC investments included in income tax expense on the unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 (in millions): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Tax credits and other benefits recognized $ (9) $ (8) $ (29) $ (23) Tax credit amortization expense 7 6 22 18 Total $ (2) $ (2) $ (7) $ (5)

Contractholder Funds (Tables)

Contractholder Funds (Tables)	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
Summary of Balances and Changes in Contractholder Funds	The following tables summarize balances of and changes in contractholder funds’ account balances (in millions): September 30, 2024 Indexed annuities Fixed rate annuities Universal Life FABN (b) FHLB (b) Balance, beginning of year $ 27,164 $ 13,443 $ 2,391 $ 2,613 $ 2,539 Issuances 4,829 4,476 157 599 1,803 Premiums received 85 1 361 — — Policy charges (a) (140) — (231) — — Surrenders and withdrawals (2,807) (1,184) (75) — — Benefit payments (368) (233) (13) (791) (1,576) Interest credited 488 476 108 51 89 Other 5 — — (1) (2) Balance, end of period 29,256 16,979 2,698 2,471 2,853 Embedded derivative adjustment (c) 790 — 119 — — Gross Liability, end of period 30,046 16,979 2,817 2,471 2,853 Less: Reinsurance 410 10,471 883 — — Net Liability, after Reinsurance $ 29,636 $ 6,508 $ 1,934 $ 2,471 $ 2,853 Weighted-average crediting rate 2.33 % 4.26 % 5.84 % N/A N/A Net amount at risk (d) N/A N/A $ 70,859 N/A N/A Cash surrender value (e) $ 26,985 $ 15,815 $ 2,088 N/A N/A (a) Contracts included in the contractholder funds are generally charged a premium and/or monthly assessments on the basis of the account balance. (b) FABN and FHLB are considered funding agreements that are investment contracts which follow the interest method of accounting, and therefore are not subject to ASU 2018-12 disclosure requirements. However, the Company has elected to present the liability for these agreements within the disaggregated roll forward as we believe it will provide meaningful information for users of the financials. (c) The embedded derivative adjustment reconciles the account balance to the gross GAAP liability and represents the combination of the host contract and the fair value of the embedded derivatives. (d) For those guarantees of benefits that are payable in the event of death, the net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date. (e) These amounts are gross of reinsurance. December 31, 2023 Indexed annuities Fixed rate annuities Universal Life FABN (b) FHLB (b) Balance, beginning of year $ 24,766 $ 9,358 $ 2,112 $ 2,613 $ 1,982 Issuances 4,722 5,061 199 — 1,256 Premiums received 103 1 382 — — Policy charges (a) (182) — (261) — — Surrenders and withdrawals (2,005) (1,142) (90) — — Benefit payments (526) (240) (27) (53) (763) Interest credited 270 405 76 54 64 Other 16 — — (1) — Balance, end of period 27,164 13,443 2,391 2,613 2,539 Embedded derivative adjustment (c) 243 — 84 — — Gross Liability, end of period 27,407 13,443 2,475 2,613 2,539 Less: Reinsurance 17 7,520 894 — — Net Liability, after Reinsurance $ 27,390 $ 5,923 $ 1,581 $ 2,613 $ 2,539 Weighted-average crediting rate 1.40 % 4.85 % 3.44 % N/A N/A Net amount at risk (d) N/A N/A $ 60,389 N/A N/A Cash surrender value (e) $ 25,099 $ 12,505 $ 1,872 N/A N/A (a) Contracts included in the contractholder funds are generally charged a premium and/or monthly assessments on the basis of the account balance. (b) FABN and FHLB are considered funding agreements that are investment contracts which follow the interest method of accounting, and therefore are not subject to ASU 2018-12 disclosure requirements. However, the Company has elected to present the liability for these agreements within the disaggregated roll forward as we believe it will provide meaningful information for users of the financials. (c) The embedded derivative adjustment reconciles the account balance to the gross GAAP liability and represents the combination of the host contract and the fair value of the embedded derivatives. (d) For those guarantees of benefits that are payable in the event of death, the net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date. (e) These amounts are gross of reinsurance.
Schedule of Reconciliation of Policyholder Account Balances to Statement of Financial Position	The following table reconciles contractholder funds’ account balances to the contractholder funds liability in the unaudited Condensed Consolidated Balance Sheets (in millions): September 30, 2024 December 31, 2023 Indexed annuities $ 30,046 $ 27,407 Fixed rate annuities 16,979 13,443 Immediate annuities 292 311 Universal life 2,817 2,475 Traditional life 5 5 Funding Agreement-FABN 2,471 2,613 FHLB 2,853 2,539 PRT 5 5 Total $ 55,468 $ 48,798
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	The following tables present the account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimums (in millions): September 30, 2024 Range of guaranteed minimum crediting rate At Guaranteed Minimum 1 Basis Point-50 Basis Points Above 51 Basis Points-150 Basis Points Above Greater Than 150 Basis Points Above Total Indexed Annuities 0.00%-1.50% $ 23,095 $ 1,285 $ 502 $ 1,847 $ 26,729 1.51%-2.50% 700 1 460 1,046 2,207 Greater than 2.50% 317 2 — 1 320 Total $ 24,112 $ 1,288 $ 962 $ 2,894 $ 29,256 Fixed Rate Annuities 0.00%-1.50% $ 46 $ 21 $ 925 $ 13,855 $ 14,847 1.51%-2.50% 4 7 20 460 491 Greater than 2.50% 826 2 3 810 1,641 Total $ 876 $ 30 $ 948 $ 15,125 $ 16,979 Universal Life 0.00%-1.50% $ 2,303 $ 6 $ — $ 22 $ 2,331 1.51%-2.50% — — — — — Greater than 2.50% 366 — 1 — 367 Total $ 2,669 $ 6 $ 1 $ 22 $ 2,698 December 31, 2023 Range of guaranteed minimum crediting rate At Guaranteed Minimum 1 Basis Point-50 Basis Points Above 51 Basis Points-150 Basis Points Above Greater Than 150 Basis Points Above Total Indexed Annuities 0.00%-1.50% $ 22,392 $ 1,444 $ 526 $ 1,953 $ 26,315 1.51%-2.50% 196 1 24 250 471 Greater than 2.50% 377 1 — — 378 Total $ 22,965 $ 1,446 $ 550 $ 2,203 $ 27,164 Fixed Rate Annuities 0.00%-1.50% $ 23 $ 25 $ 1,532 $ 10,271 $ 11,851 1.51%-2.50% 5 8 23 453 489 Greater than 2.50% 893 2 4 204 1,103 Total $ 921 $ 35 $ 1,559 $ 10,928 $ 13,443 Universal Life 0.00%-1.50% $ 1,987 $ 5 $ — $ 21 $ 2,013 1.51%-2.50% — — — — — Greater than 2.50% 361 16 1 — 378 Total $ 2,348 $ 21 $ 1 $ 21 $ 2,391

Future Policy Benefits (Tables)

Future Policy Benefits (Tables)	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
Summary Balances and Changes in the Present Value of Expected Net Premiums and Present Value FPB	The following table summarizes balances and changes in the present value of expected net premiums and the present value of the expected FPB for nonparticipating traditional contracts (in millions): Traditional Life September 30, 2024 December 31, 2023 Expected net premiums Balance, beginning of year $ 722 $ 797 Beginning balance at original discount rate 874 974 Effect of actual variances from expected experience (4) (1) Balance adjusted for variances from expectation 870 973 Interest accrual 13 19 Net premiums collected (82) (118) Ending Balance at original discount rate 801 874 Effect of changes in discount rate assumptions (128) (152) Balance, end of period $ 673 $ 722 Expected FPB Balance, beginning of year $ 2,071 $ 2,151 Beginning balance at original discount rate 2,492 2,665 Effect of actual variances from expected experience 48 (24) Balance adjusted for variances from expectation 2,540 2,641 Interest accrual 41 56 Benefits payments (165) (205) Ending Balance at original discount rate 2,416 2,492 Effect of changes in discount rate assumptions (358) (421) Balance, end of period $ 2,058 $ 2,071 Net liability for future policy benefits $ 1,385 $ 1,349 Less: Reinsurance recoverable 525 413 Net liability for future policy benefits, after reinsurance recoverable $ 860 $ 936 Weighted-average duration of liability for future policyholder benefits (years) 6.87 7.36 The following tables summarize balances and changes in the present value of the expected FPB for limited-payment contracts (in millions): PRT September 30, 2024 December 31, 2023 Balance, beginning of year $ 4,189 $ 2,165 Beginning balance at original discount rate 4,351 2,475 Effect of changes in cash flow assumptions 4 (9) Effect of actual variances from expected experience (20) (7) Balance adjusted for variances from expectation 4,335 2,459 Issuances 1,300 2,041 Interest accrual 168 109 Benefits payments (346) (258) Ending Balance at original discount rate 5,457 4,351 Effect of changes in discount rate assumptions (63) (162) Balance, end of period $ 5,394 $ 4,189 Net liability for future policy benefits, after reinsurance recoverable $ 5,394 $ 4,189 Weighted-average duration of liability for future policyholder benefits (years) 7.95 8.23 Immediate annuities September 30, 2024 December 31, 2023 Balance, beginning of year $ 1,415 $ 1,429 Beginning balance at original discount rate 1,788 1,858 Effect of changes in cash flow assumptions — — Effect of actual variances from expected experience (26) (15) Balance adjusted for variances from expectation 1,762 1,843 Issuances 27 22 Interest accrual 46 51 Benefits payments (88) (128) Ending Balance at original discount rate 1,747 1,788 Effect of changes in discount rate assumptions (354) (373) Balance, end of period $ 1,393 $ 1,415 Net liability for future policy benefits $ 1,393 $ 1,415 Less: Reinsurance recoverable 115 116 Net liability for future policy benefits, after reinsurance recoverable $ 1,278 $ 1,299 Weighted-average duration of liability for future policyholder benefits (years) 12.89 12.47
Summary of Changes in Liability for Deferred Profit Liability	The following tables summarize balances and changes in the liability for DPL for limited-payment contracts (in millions): September 30, 2024 December 31, 2023 Immediate annuities PRT Immediate annuities PRT Balance, beginning of year $ 87 $ 10 $ 69 $ 4 Effect of modeling changes — — 4 — Effect of changes in cash flow assumptions — (7) — 1 Effect of actual variances from expected experience 6 — 16 5 Balance adjusted for variances from expectation 93 3 89 10 Issuances 2 — 3 — Interest accrual 1 4 2 1 Amortization (6) (1) (7) (1) Balance, end of period $ 90 $ 6 $ 87 $ 10
Schedule of Reconciliation of Future Policy Benefits to Statement of Financial Position	The following table reconciles the net FPB to the FPB in the unaudited Condensed Consolidated Balance Sheets (in millions). The DPL for Immediate Annuities and PRT is presented together with the FPB in the unaudited Condensed Consolidated Balance Sheets and has been included as a reconciling item in the table below: September 30, 2024 December 31, 2023 Traditional Life $ 1,385 $ 1,349 Immediate annuities 1,393 1,415 PRT 5,394 4,189 Immediate annuities DPL 90 87 PRT DPL 6 10 Total $ 8,268 $ 7,050
Schedule of Liability for Future Policy Benefit Expected Future Policy Benefit Undiscounted Before Reinsurance	The following table provides the amount of undiscounted and discounted expected gross premiums and expected future benefits and expenses for nonparticipating traditional and limited-payment contracts (in millions): Undiscounted Discounted September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Traditional Life Expected future benefit payments $ 2,843 $ 2,996 $ 2,073 $ 1,984 Expected future gross premiums 978 1,116 728 772 Immediate annuities Expected future benefit payments $ 3,212 $ 3,227 $ 1,392 $ 1,313 Expected future gross premiums — — — — PRT Expected future benefit payments $ 8,449 $ 5,445 $ 5,470 $ 3,605 Expected future gross premiums — — — —
Revenue from External Customers by Products and Services	The following table summarizes the amount of revenue and interest related to nonparticipating traditional and limited-payment contracts recognized in the unaudited Condensed Consolidated Statements of Operations (in millions): Gross Premiums (a) Interest Expense (b) September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Traditional Life $ 84 $ 94 $ 28 $ 28 Immediate annuities 16 18 46 42 PRT 1,240 1,207 168 79 Total $ 1,340 $ 1,319 $ 242 $ 149 (a) Included in Life insurance premiums and other fees on the unaudited Condensed Consolidated Statements of Operations. (b) Included in Benefits and other changes in policy reserves (remeasurement gains (losses) (a)) on the unaudited Condensed Consolidated Statements of Operations.
Schedule of Liability for Future Policy Benefit, Weighted Average Discount Rates	The following table presents the weighted-average interest rate: September 30, 2024 December 31, 2023 Traditional Life Interest accretion rate 2.34 % 2.33 % Current discount rate 4.95 5.03 Immediate annuities Interest accretion rate 3.17 % 3.14 % Current discount rate 4.90 4.98 PRT Interest accretion rate 4.70 % 4.61 % Current discount rate 4.85 5.03
Schedule of Liability for Future Policy Benefit, Mortality and Lapse, Actual and Expected Experience	The following tables summarize the actual experience and expected experience for mortality and lapses of the FPB: September 30, 2024 Traditional Life Immediate annuities PRT Mortality Actual experience 1.4 % 2.7 % 3.0 % Expected experience 1.5 1.9 2.5 Lapses Actual experience 0.1 % — % — % Expected experience 0.5 — — December 31, 2023 Traditional Life Immediate annuities PRT Mortality Actual experience 1.7 % 3.2 % 3.2 % Expected experience 1.4 1.8 2.3 Lapses Actual experience — % — % — % Expected experience 0.3 — —
Liability for Future Policy Benefits, Additional Information	The following table provides additional information for periods in which a cohort has an net premium ratio (“NPR”) greater than 100% (and therefore capped at 100%) (dollars in millions): September 30, 2024 Cohort X Description NPR before capping 109 % Term with return of premium Non-NY Cohort Reserves before NPR capping $ 1,219 Term with return of premium Non-NY Cohort Reserves after NPR capping 1,250 Term with return of premium Non-NY Cohort Loss Expense 31 Term with return of premium Non-NY Cohort

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2024
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	The following table presents a reconciliation of Accounts payable and accrued liabilities to the unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (in millions): September 30, 2024 December 31, 2023 Salaries and incentives $ 95 $ 99 Accrued benefits 66 60 URL 366 270 Trade accounts payable 187 297 Liability for policy and contract claims 93 92 Retained asset account 64 81 Remittances and items not allocated 296 284 Option collateral liabilities 1,133 588 Lease liability 10 11 Investment purchases payable 647 21 Contingent consideration 69 — Other accrued liabilities 265 208 Accounts payable and accrued liabilities $ 3,291 $ 2,011
Schedule of Unearned Revenue Liability (URL)	The following tables roll forward URL for our universal life product for the nine months ended September 30, 2024 and September 30, 2023 (in millions): Nine Months Ended September 30, 2024 2023 Balance at January 1, $ 270 $ 166 Capitalization 110 87 Amortization (14) (12) Balance at September 30, $ 366 $ 241

Notes Payable (Tables)

Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Components of Notes Payable	The carrying amounts of notes payable are summarized as follows (in millions): September 30, 2024 December 31, 2023 6.50% F&G Notes, net of $6 and $0 of deferred issuance costs at September 30, 2024 and December 31, 2023, respectively $ 544 $ — 7.95% F&G Notes, net of $9 and $9 of deferred issuance costs at September 30, 2024 and December 31, 2023, respectively 336 336 7.40% F&G Notes, net of $4 and $5 of deferred issuance costs at September 30, 2024 and December 31, 2023, respectively 496 495 5.50% F&G Notes, including $4 and $11 of purchase premium at September 30, 2024 and December 31, 2023, respectively 304 561 Revolving Credit Facility - Short-term, net of deferred issuance costs of $7 and $3 at September 30, 2024 and December 31, 2023 358 362 Total $ 2,038 $ 1,754
Schedule of Interest Expense on Notes Payable	Interest expense on F&G’s outstanding notes payable for the three and nine months ended September 30, 2024 and September 30, 2023 was as follows (in millions): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 6.50% F&G Notes $ 9 $ — $ 12 $ — 7.95% F&G Notes 6 — 21 — 7.40% F&G Notes 10 9 29 27 5.50% F&G Notes 4 6 11 17 Revolving Credit Facility 7 9 21 27 Total $ 36 $ 24 $ 94 $ 71

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	The following supplemental cash flow information is provided with respect to certain cash payment and non-cash investing and financing activities (in millions): Nine months ended September 30, 2024 2023 Cash paid (refunded) for: Interest paid $ 93 $ 60 Income taxes (refunded) paid (10) 3 Deferred sales inducements 219 112 Non-cash investing and financing activities: Investments received from pension risk transfer premiums — 464 Change in proceeds of sales of investments available for sale receivable in period (87) 34 Change in purchases of investments available for sale payable in period 633 146 Refer to Note P - Acquisitions for information on the acquisitions of Roar and PALH including the assets acquired and liabilities and non-controlling interest assumed as of the respective acquisition dates.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Summary of Unfunded Commitments	A summary of unfunded commitments by commitment type as of September 30, 2024 is included below (in millions): September 30, 2024 Unconsolidated VIEs: Limited partnerships $ 1,148 Whole loans 949 Fixed maturity securities, ABS 359 Direct Lending 273 Other fixed maturity securities, AFS 43 Commercial mortgage loans 79 Other assets 145 Other invested assets 109 Total $ 3,105

Insurance Subsidiary Financia_2

Insurance Subsidiary Financial Information and Regulatory Matters (Tables)	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
Statutory Net Income and Statutory Capital and Surplus	Our principal insurance subsidiaries' statutory financial statements are based on a December 31 year end. Statutory net income for the three and nine months ended September 30, 2024 and September 30, 2023, and statutory capital and surplus as of September 30, 2024 and December 31, 2023, of our wholly owned insurance subsidiaries, were as follows (in millions): Subsidiary (state of domicile) (a) FGL Insurance FGL NY Insurance (NY) Raven Re Corbeau Re Statutory net income (loss): For the three months ended September 30, 2024 $ (6) $ 1 $ 13 $ 5 For the three months ended September 30, 2023 94 (1) 14 — For the nine months ended September 30, 2024 $ 71 $ 7 $ 41 $ (394) For the nine months ended September 30, 2023 54 4 42 — Statutory capital and surplus: September 30, 2024 $ 1,704 $ 95 $ 156 $ 139 December 31, 2023 2,009 86 140 171 (a) FGL NY Insurance, Raven Re and Corbeau Re are subsidiaries of FGL Insurance, and the columns should not be added together. Corbeau Re was incorporated on September 1, 2023. Net income and capital and surplus of our wholly owned Cayman Islands and Bermuda regulated insurance subsidiaries under SAP and GAAP, respectively, were as follows (in millions): Subsidiary (country of domicile) F&G Cayman Re (Cayman Islands) F&G Life Re (Bermuda) Statutory net income (loss): For the three months ended September 30, 2024 $ (11) $ 102 For the three months ended September 30, 2023 6 (80) For the nine months ended September 30, 2024 $ (27) $ 181 For the nine months ended September 30, 2023 13 (6) Statutory capital and surplus: September 30, 2024 $ 625 $ 195 December 31, 2023 543 11

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Initial Purchase Price	The initial purchase price is as follows (in millions): Cash paid for 70% majority interest of Roar shares $ 269 Less: Cash acquired net of non-controlling interests 1 Net cash paid for 70% majority interest of Roar 268 Initial fair value of contingent consideration 48 Total initial consideration $ 316 The initial purchase price is as follows (in millions): Cash consideration $ 215 Less: Cash acquired 1 Net cash paid 214 Settlement of prepaid asset 8 Acquisition date fair value of previously held interests 92 Total consideration $ 314
Schedule of Fair Value Amounts Expected to be Recognized for Assets Acquired and Liabilities Assumed	The following table summarizes the fair value amounts recognized for the assets acquired and liabilities assumed as of the acquisition date (in millions): Fair value as of Goodwill $ 268 Prepaid expenses and other assets 3 Other intangible assets 183 Total assets acquired 454 Accounts payable and accrued liabilities 2 Total liabilities assumed 2 Non-controlling interests (fair value determined using income approach) 136 Total liabilities assumed and non-controlling interests 138 Net assets acquired $ 316 The following table summarizes the fair value amounts recognized for the assets acquired and liabilities assumed as of the acquisition date (in millions): Fair value as of Goodwill $ 162 Prepaid expenses and other assets 5 Other intangible assets 149 Total assets acquired 316 Accounts payable and accrued liabilities 2 Total liabilities assumed 2 Net assets acquired $ 314
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	The gross carrying value and weighted average estimated useful lives of Other intangible assets acquired in the Roar acquisition consist of the following (dollars in millions): Gross Carrying Value Estimated Useful Life Other intangible assets: Customer relationships $ 179 12 Definite lived trademarks, tradenames, and other 4 10 Total Other intangible assets $ 183 The gross carrying value and weighted average estimated useful lives of Other intangible assets acquired in the PALH acquisition consist of the following (dollars in millions): Gross Carrying Value Estimated Useful Life Other intangible assets: Customer relationships $ 131 20 Definite lived trademarks, tradenames, and other 18 5 to 10 Total Other intangible assets $ 149
Business Acquisition, Pro Forma Information	Unaudited pro-forma results presented assume the acquisition of Roar occurred as of January 1, 2023 and are not intended to represent or be indicative of actual or future results of operations. Three months ended September 30, Nine months ended September 30, 2023 2023 Total revenues $ 866 $ 2,931 Net earnings (loss) attributable to F&G common shareholders 297 213 Three months ended September 30, Nine months ended September 30, 2023 2023 Total revenues $ 852 $ 2,891 Net earnings (loss) attributable to F&G common shareholders 303 232

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Computation Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted EPS (dollars and shares in millions except per share data): Three months ended September 30, Nine months ended 2024 2023 2024 2023 Net earnings (loss) $ (5) $ 306 $ 315 $ 241 Less: Non-controlling interests 1 — 3 — Net earnings (loss) attributable to F&G (6) 306 312 241 Less: Preferred stock dividend 4 — 13 — Net earnings (loss) attributable to F&G common shareholders $ (10) $ 306 $ 299 $ 241 Weighted-average common shares outstanding - basic 124 124 124 124 Dilutive effect of unvested restricted stock — 1 1 1 Dilutive effect of mandatory convertible preferred stock — — 6 — Weighted-average shares outstanding - diluted 124 125 131 125 Net earnings (loss) per share attributable to F&G common shareholders Basic - net $ (0.08) $ 2.47 $ 2.41 $ 1.94 Diluted - net $ (0.08) $ 2.45 $ 2.38 $ 1.93

Basis of Financial Statements -

Basis of Financial Statements - Description of Business (Details)	9 Months Ended
	Sep. 30, 2024 insuranceAgent
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reporting segments	1

Basis of Financial Statements_3

Basis of Financial Statements - Recent Developments (Details) - USD ($) $ / shares in Units, $ in Millions

3 Months Ended

9 Months Ended

Nov. 06, 2024

Oct. 04, 2024

Jul. 18, 2024

Jul. 17, 2024

Feb. 16, 2024

Jan. 12, 2024

Jan. 02, 2024

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Jun. 04, 2024

Feb. 15, 2024

Dec. 31, 2023

Debt Instrument [Line Items]

Contingent consideration obligation

$ 69

$ 69

$ 0

Issuance of preferred stock

$ 250

$ 0

Preferred stock, shares issued (in shares)

5,000,000

5,000,000

0

Preferred stock, par value (in usd per share)

$ 0.001

$ 0.001

$ 0.001

Subsequent Event

Debt Instrument [Line Items]

Dividends declared (in usd per share)

$ 0.22

Distribution Investments and Affiliates | Commission Fees Paid

Debt Instrument [Line Items]

Commissions paid

$ 16

$ 37

$ 110

$ 114

6.50% Senior Notes due 2029 | Senior Notes

Debt Instrument [Line Items]

Interest rate, stated percentage

6.50%

6.50%

6.50%

Aggregate principal amount

$ 550

5.50% Senior Notes due 2025 | Senior Notes

Debt Instrument [Line Items]

Interest rate, stated percentage

5.50%

Aggregate principal amount

$ 250

6.250% Senior Notes due 2034 | Senior Notes | Subsequent Event

Debt Instrument [Line Items]

Interest rate, stated percentage

6.25%

Aggregate principal amount

$ 500

Revolving Credit Facility | Credit Agreement | Credit Facility

Debt Instrument [Line Items]

Credit agreement, maturity date, extension, period

2 years

Credit facility, maximum borrowing capacity

$ 750

$ 665

Revolving Credit Facility | Credit Agreement | Credit Facility | Subsequent Event

Debt Instrument [Line Items]

Extinguishment of debt, amount

$ 365

6.875% Series A Mandatory Convertible Preferred Stock | Subsequent Event

Debt Instrument [Line Items]

Preferred stock dividends declared (in usd per share)

$ 0.8594

Parent Company | 6.875% Series A Mandatory Convertible Preferred Stock

Debt Instrument [Line Items]

Issuance of preferred stock

$ 250

Preferred stock, shares issued (in shares)

5,000,000

Preferred stock, dividend rate, percentage

6.875%

Preferred stock, par value (in usd per share)

$ 0.001

Preferred stock, liquidation preference per share (in usd per share)

$ 50

Roar

Debt Instrument [Line Items]

Ownership interests acquired

70%

Cash consideration

$ 269

Contingent consideration obligation

48

Contingent consideration obligation, payments (up to)

$ 90

Contingent consideration liability payment period

3 years

Total initial consideration

$ 316

Cash acquired from acquisition

$ 1

PALH LLC

Debt Instrument [Line Items]

Cash consideration

$ 215

Ownership interest including subsequent acquisition, percentage

100%

Ownership interest prior to acquisition

30%

Total initial consideration

$ 314

Settlement of prepaid asset

8

Acquisition date fair value of previously held interests

92

$ 92

Cash acquired from acquisition

$ 1

PALH LLC | PALH LLC

Debt Instrument [Line Items]

Ownership percentage of acquiree prior to acquisition

70%

Basis of Financial Statements_4

Basis of Financial Statements - Schedule of Changes in Other Comprehensive Earnings (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	$ 3,788	$ 2,518	$ 3,103	$ 2,405
Balance, ending	4,475	2,372	4,475	2,372
Reclassification adjustments, tax expense (benefit)	0	(7)	0	(30)
Unrealized gain (loss) on investments and other financial instruments, net (excluding investments in unconsolidated affiliates)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	(2,643)	(3,282)	(2,479)	(3,528)
Reclassification adjustments included in net earnings	1	26	(2)	112
Other comprehensive income (loss) before tax, net of reclassifications	1,298	(847)	1,096	(644)
Deferred income tax (expense) benefit	(262)	175	(221)	132
Balance, ending	(1,606)	(3,928)	(1,606)	(3,928)
Change in current discount rate - future policy benefits
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	756	720	573	763
Reclassification adjustments included in net earnings	0	0	0	0
Other comprehensive income (loss) before tax, net of reclassifications	(371)	290	(139)	235
Deferred income tax (expense) benefit	78	(61)	29	(49)
Balance, ending	463	949	463	949
Change in instrument- specific credit risk - market risk benefits
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	(63)	(46)	(83)	(49)
Reclassification adjustments included in net earnings	0	0	0	0
Other comprehensive income (loss) before tax, net of reclassifications	(31)	(13)	(6)	(9)
Deferred income tax (expense) benefit	6	3	1	2
Balance, ending	(88)	(56)	(88)	(56)
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	(3)	(2)	(1)	(4)
Reclassification adjustments included in net earnings	0	0	0	0
Other comprehensive income (loss) before tax, net of reclassifications	4	(3)	1	(1)
Deferred income tax (expense) benefit	(1)	0	0	0
Balance, ending	0	(5)	0	(5)
Total Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	(1,953)	(2,610)	(1,990)	(2,818)
Reclassification adjustments included in net earnings	1	26	(2)	112
Other comprehensive income (loss) before tax, net of reclassifications	900	(573)	952	(419)
Deferred income tax (expense) benefit	(179)	117	(191)	85
Balance, ending	$ (1,231)	$ (3,040)	$ (1,231)	$ (3,040)

Basis of Financial Statements_5

Basis of Financial Statements - Future Policy Benefits and Market Risk Benefit (Details)	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
MRB, attributed fee ratio capped percent	100%

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Carrying Amounts of Assets and Liabilities at Estimated Fair Value Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Assets
Fixed maturity securities, available-for-sale:	$ 46,909	$ 40,419
Derivative investments and Reinsurance related embedded derivative, included in other assets	1,401	797
Investment in unconsolidated affiliates	272	285
Market risk benefits asset	134	88
Total financial assets at fair value	1,288	1,296
Derivatives:
Contingent consideration obligation	69	0
Market risk benefits liability	603	403
Fair Value
Assets
Cash and cash equivalents	3,539	1,563
Derivative investments and Reinsurance related embedded derivative, included in other assets	1,401	797
Investment in unconsolidated affiliates	3,394	2,786
Short term investments	681	1,452
Market risk benefits asset	134	88
Total financial assets at fair value	53,409	45,399
Derivatives:
Contingent consideration obligation	69
Market risk benefits liability	603	403
Total financial liabilities at fair value	6,117	4,661
Level 1
Assets
Cash and cash equivalents	3,539	1,563
Derivative investments and Reinsurance related embedded derivative, included in other assets	0	0
Investment in unconsolidated affiliates	0	0
Short term investments	517	1,444
Market risk benefits asset	0	0
Total financial assets at fair value	4,707	3,593
Derivatives:
Contingent consideration obligation	0
Market risk benefits liability	0	0
Total financial liabilities at fair value	0	0
Level 2
Assets
Cash and cash equivalents	0	0
Derivative investments and Reinsurance related embedded derivative, included in other assets	1,401	740
Investment in unconsolidated affiliates	0	0
Short term investments	8	8
Market risk benefits asset	0	0
Total financial assets at fair value	37,121	32,095
Derivatives:
Contingent consideration obligation	0
Market risk benefits liability	0	0
Total financial liabilities at fair value	34	0
Level 3
Assets
Cash and cash equivalents	0	0
Derivative investments and Reinsurance related embedded derivative, included in other assets	0	57
Investment in unconsolidated affiliates	4	7
Short term investments	156	0
Market risk benefits asset	134	88
Total financial assets at fair value	11,522	9,652
Derivatives:
Contingent consideration obligation	69
Market risk benefits liability	603	403
Total financial liabilities at fair value	6,083	4,661
NAV
Assets
Investment in unconsolidated affiliates	3,390	2,779
Total financial assets at fair value	59	59
Indexed annuities/IUL embedded derivatives, included in contractholder funds | Fair Value
Derivatives:
Derivative liabilities	5,411	4,258
Indexed annuities/IUL embedded derivatives, included in contractholder funds | Level 1
Derivatives:
Derivative liabilities	0	0
Indexed annuities/IUL embedded derivatives, included in contractholder funds | Level 2
Derivatives:
Derivative liabilities	0	0
Indexed annuities/IUL embedded derivatives, included in contractholder funds | Level 3
Derivatives:
Derivative liabilities	5,411	4,258
Reinsurance related embedded derivatives | Fair Value
Assets
Derivative investments and Reinsurance related embedded derivative, included in other assets		152
Derivatives:
Derivative liabilities	34
Reinsurance related embedded derivatives | Level 1
Assets
Derivative investments and Reinsurance related embedded derivative, included in other assets		0
Derivatives:
Derivative liabilities	0
Reinsurance related embedded derivatives | Level 2
Assets
Derivative investments and Reinsurance related embedded derivative, included in other assets		152
Derivatives:
Derivative liabilities	34
Reinsurance related embedded derivatives | Level 3
Assets
Derivative investments and Reinsurance related embedded derivative, included in other assets		0
Derivatives:
Derivative liabilities	0
Asset-backed securities
Assets
Fixed maturity securities, available-for-sale:	15,956	14,334
Asset-backed securities | Fair Value
Assets
Fixed maturity securities, available-for-sale:	15,956	14,334
Asset-backed securities | Level 1
Assets
Fixed maturity securities, available-for-sale:	0	0
Asset-backed securities | Level 2
Assets
Fixed maturity securities, available-for-sale:	7,772	7,212
Asset-backed securities | Level 3
Assets
Fixed maturity securities, available-for-sale:	8,184	7,122
Commercial mortgage-backed securities
Assets
Fixed maturity securities, available-for-sale:	5,124	4,410
Commercial mortgage-backed securities | Fair Value
Assets
Fixed maturity securities, available-for-sale:	5,124	4,410
Commercial mortgage-backed securities | Level 1
Assets
Fixed maturity securities, available-for-sale:	0	0
Commercial mortgage-backed securities | Level 2
Assets
Fixed maturity securities, available-for-sale:	5,124	4,392
Commercial mortgage-backed securities | Level 3
Assets
Fixed maturity securities, available-for-sale:	0	18
Corporates
Assets
Fixed maturity securities, available-for-sale:	20,611	16,579
Corporates | Fair Value
Assets
Fixed maturity securities, available-for-sale:	20,611	16,579
Corporates | Level 1
Assets
Fixed maturity securities, available-for-sale:	44	0
Corporates | Level 2
Assets
Fixed maturity securities, available-for-sale:	17,844	14,609
Corporates | Level 3
Assets
Fixed maturity securities, available-for-sale:	2,723	1,970
Hybrids
Assets
Fixed maturity securities, available-for-sale:	596	618
Hybrids | Fair Value
Assets
Fixed maturity securities, available-for-sale:	596	618
Hybrids | Level 1
Assets
Fixed maturity securities, available-for-sale:	37	95
Hybrids | Level 2
Assets
Fixed maturity securities, available-for-sale:	559	523
Hybrids | Level 3
Assets
Fixed maturity securities, available-for-sale:	0	0
Municipals | Fair Value
Assets
Fixed maturity securities, available-for-sale:	1,473	1,567
Municipals | Level 1
Assets
Fixed maturity securities, available-for-sale:	0	0
Municipals | Level 2
Assets
Fixed maturity securities, available-for-sale:	1,473	1,518
Municipals | Level 3
Assets
Fixed maturity securities, available-for-sale:	0	49
Residential mortgage-backed securities
Assets
Fixed maturity securities, available-for-sale:	2,591	2,424
Residential mortgage-backed securities | Fair Value
Assets
Fixed maturity securities, available-for-sale:	2,591	2,424
Residential mortgage-backed securities | Level 1
Assets
Fixed maturity securities, available-for-sale:	0	0
Residential mortgage-backed securities | Level 2
Assets
Fixed maturity securities, available-for-sale:	2,588	2,421
Residential mortgage-backed securities | Level 3
Assets
Fixed maturity securities, available-for-sale:	3	3
U.S. Government
Assets
Fixed maturity securities, available-for-sale:	352	261
U.S. Government | Fair Value
Assets
Fixed maturity securities, available-for-sale:	352	261
U.S. Government | Level 1
Assets
Fixed maturity securities, available-for-sale:	352	261
U.S. Government | Level 2
Assets
Fixed maturity securities, available-for-sale:	0	0
U.S. Government | Level 3
Assets
Fixed maturity securities, available-for-sale:	0	0
Foreign Governments
Assets
Fixed maturity securities, available-for-sale:	206	226
Foreign Governments | Fair Value
Assets
Fixed maturity securities, available-for-sale:	206	226
Foreign Governments | Level 1
Assets
Fixed maturity securities, available-for-sale:	0	0
Foreign Governments | Level 2
Assets
Fixed maturity securities, available-for-sale:	201	210
Foreign Governments | Level 3
Assets
Fixed maturity securities, available-for-sale:	5	16
Preferred securities
Assets
Preferred and equity securities	289	469
Preferred securities | Fair Value
Assets
Preferred and equity securities	289	469
Preferred securities | Level 1
Assets
Preferred and equity securities	131	152
Preferred securities | Level 2
Assets
Preferred and equity securities	151	310
Preferred securities | Level 3
Assets
Preferred and equity securities	7	7
Equity securities | Fair Value
Assets
Preferred and equity securities	146	137
Equity securities | Level 1
Assets
Preferred and equity securities	87	78
Equity securities | Level 2
Assets
Preferred and equity securities	0	0
Equity securities | Level 3
Assets
Preferred and equity securities	0	0
Equity securities | NAV
Assets
Preferred and equity securities	59	59
Investment in unconsolidated affiliates | Fair Value
Assets
Investment in unconsolidated affiliates	272	285
Investment in unconsolidated affiliates | Level 1
Assets
Investment in unconsolidated affiliates	0	0
Investment in unconsolidated affiliates | Level 2
Assets
Investment in unconsolidated affiliates	0	0
Investment in unconsolidated affiliates | Level 3
Assets
Investment in unconsolidated affiliates	272	285
Other long-term investments | Fair Value
Assets
Other long-term investments	38	37
Other long-term investments | Level 1
Assets
Other long-term investments	0	0
Other long-term investments | Level 2
Assets
Other long-term investments	0	0
Other long-term investments | Level 3
Assets
Other long-term investments	$ 38	$ 37

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Narrative (Details)	Sep. 30, 2024 $ / Contract
Credit linked note | Third-Party Valuation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, strike price	0

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Quantitative Information Regarding Significant Unobservable Inputs Used for Recurring Level 3 Fair Value Measurements of Financial Instruments (Details) $ in Millions	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 1,288	$ 1,296
Liabilities, fair value	6,083	4,661
Third-Party Valuation | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 10,234
Market Comparable Company Analysis | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value		8,356
Minimum | Discounted Cash Flow | Risk-Adjusted Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration liability	0.1300
Minimum | Discounted Cash Flow | EBITDA Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration liability	0.3500
Minimum | Discounted Cash Flow | Counterparty Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration liability	0.0600
Maximum | Discounted Cash Flow | Risk-Adjusted Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration liability	0.1300
Maximum | Discounted Cash Flow | EBITDA Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration liability	0.3500
Maximum | Discounted Cash Flow | Counterparty Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration liability	0.0600
Weighted Average | Discounted Cash Flow | Risk-Adjusted Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration liability	0.1300
Weighted Average | Discounted Cash Flow | EBITDA Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration liability	0.3500
Weighted Average | Discounted Cash Flow | Counterparty Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration liability	0.0600
Indexed annuities/ IUL embedded derivatives | Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities, fair value	$ 5,411	$ 4,258
Indexed annuities/ IUL embedded derivatives | Minimum | Discounted Cash Flow | Surrender Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability	0.0025	0.0025
Indexed annuities/ IUL embedded derivatives | Minimum | Discounted Cash Flow | Partial Withdrawals
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability	0.0200	0.0200
Indexed annuities/ IUL embedded derivatives | Minimum | Discounted Cash Flow | Non-Performance Spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability	0.0030	0.0038
Indexed annuities/ IUL embedded derivatives | Minimum | Discounted Cash Flow | Market Value of Option
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability	0	0
Indexed annuities/ IUL embedded derivatives | Minimum | Discounted Cash Flow | Mortality Multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability	0.8000	1
Indexed annuities/ IUL embedded derivatives | Minimum | Discounted Cash Flow | Option Cost
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability	0.0007	0.0007
Indexed annuities/ IUL embedded derivatives | Maximum | Discounted Cash Flow | Surrender Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability	0.5000	0.7000
Indexed annuities/ IUL embedded derivatives | Maximum | Discounted Cash Flow | Partial Withdrawals
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability	0.3571	0.3448
Indexed annuities/ IUL embedded derivatives | Maximum | Discounted Cash Flow | Non-Performance Spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability	0.0098	0.0110
Indexed annuities/ IUL embedded derivatives | Maximum | Discounted Cash Flow | Market Value of Option
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability	0.3014	0.1893
Indexed annuities/ IUL embedded derivatives | Maximum | Discounted Cash Flow | Mortality Multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability	1.1500	1
Indexed annuities/ IUL embedded derivatives | Maximum | Discounted Cash Flow | Option Cost
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability	0.0570	0.0548
Indexed annuities/ IUL embedded derivatives | Weighted Average | Discounted Cash Flow | Surrender Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability	0.0723	0.0683
Indexed annuities/ IUL embedded derivatives | Weighted Average | Discounted Cash Flow | Partial Withdrawals
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability	0.0272	0.0274
Indexed annuities/ IUL embedded derivatives | Weighted Average | Discounted Cash Flow | Non-Performance Spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability	0.0082	0.0096
Indexed annuities/ IUL embedded derivatives | Weighted Average | Discounted Cash Flow | Market Value of Option
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability	0.0421	0.0263
Indexed annuities/ IUL embedded derivatives | Weighted Average | Discounted Cash Flow | Mortality Multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability	1	1
Indexed annuities/ IUL embedded derivatives | Weighted Average | Discounted Cash Flow | Option Cost
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability	0.0261	0.0238
Contingent consideration | Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities, fair value	$ 69
Asset-backed securities | Third-Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 99	$ 57
Asset-backed securities | Minimum | Third-Party Valuation | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0482	0.0509
Asset-backed securities | Maximum | Third-Party Valuation | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0671	0.0695
Asset-backed securities | Weighted Average | Third-Party Valuation | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0583	0.0600
Corporates | Third-Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 741	$ 787
Corporates | Minimum | Third-Party Valuation | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0355	0
Corporates | Maximum | Third-Party Valuation | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.2069	0.1287
Corporates | Weighted Average | Third-Party Valuation | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0647	0.0691
Municipals | Third-Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value		$ 32
Municipals | Minimum | Third-Party Valuation | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities		0.0625
Municipals | Maximum | Third-Party Valuation | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities		0.0625
Municipals | Weighted Average | Third-Party Valuation | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities		0.0625
Residential mortgage-backed securities | Third-Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 3	$ 3
Residential mortgage-backed securities | Minimum | Third-Party Valuation | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0519	0.0546
Residential mortgage-backed securities | Maximum | Third-Party Valuation | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0519	0.0546
Residential mortgage-backed securities | Weighted Average | Third-Party Valuation | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0519	0.0546
Foreign Governments | Third-Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 5	$ 16
Foreign Governments | Minimum | Third-Party Valuation | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0691	0.0694
Foreign Governments | Maximum | Third-Party Valuation | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0691	0.0768
Foreign Governments | Weighted Average | Third-Party Valuation | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0691	0.0745
Investment in unconsolidated affiliates | Market Comparable Company Analysis
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 272	$ 285
Investment in unconsolidated affiliates | Minimum | Market Comparable Company Analysis | EBITDA Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment in unconsolidated affiliates	8.8	4.4
Investment in unconsolidated affiliates | Maximum | Market Comparable Company Analysis | EBITDA Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment in unconsolidated affiliates	15.1	31.8
Investment in unconsolidated affiliates | Weighted Average | Market Comparable Company Analysis | EBITDA Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment in unconsolidated affiliates	11.7	23.2
Available-for-sale embedded derivative | Black Scholes Model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 34	$ 28
Available-for-sale embedded derivative | Black Scholes Model | Market Value of AnchorPath Fund
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative asset	1	1
Market risk benefits asset | Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 134	$ 88
Market risk benefits asset | Minimum | Discounted Cash Flow | Mortality
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.8000	1
Market risk benefits asset | Minimum | Discounted Cash Flow | Surrender Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0025	0.0025
Market risk benefits asset | Minimum | Discounted Cash Flow | Partial Withdrawals
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0200	0
Market risk benefits asset | Minimum | Discounted Cash Flow | Non-Performance Spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0030	0.0038
Market risk benefits asset | Minimum | Discounted Cash Flow | GMWB Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.5000	0.5000
Market risk benefits asset | Maximum | Discounted Cash Flow | Mortality
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	1.1500	1
Market risk benefits asset | Maximum | Discounted Cash Flow | Surrender Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.3000	0.1000
Market risk benefits asset | Maximum | Discounted Cash Flow | Partial Withdrawals
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.2439	0.2326
Market risk benefits asset | Maximum | Discounted Cash Flow | Non-Performance Spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0098	0.0110
Market risk benefits asset | Maximum | Discounted Cash Flow | GMWB Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.6000	0.6000
Market risk benefits asset | Weighted Average | Discounted Cash Flow | Mortality
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	1	1
Market risk benefits asset | Weighted Average | Discounted Cash Flow | Surrender Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0522	0.0522
Market risk benefits asset | Weighted Average | Discounted Cash Flow | Partial Withdrawals
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0248	0.0250
Market risk benefits asset | Weighted Average | Discounted Cash Flow | Non-Performance Spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0082	0.0096
Market risk benefits asset | Weighted Average | Discounted Cash Flow | GMWB Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.5057	0.5081
Market risk benefits liability | Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities, fair value	$ 603	$ 403
Market risk benefits liability | Minimum | Discounted Cash Flow | Mortality
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.8000	1
Market risk benefits liability | Minimum | Discounted Cash Flow | Surrender Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0025	0.0025
Market risk benefits liability | Minimum | Discounted Cash Flow | Partial Withdrawals
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0200	0
Market risk benefits liability | Minimum | Discounted Cash Flow | Non-Performance Spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0030	0.0038
Market risk benefits liability | Minimum | Discounted Cash Flow | GMWB Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.5000	0.5000
Market risk benefits liability | Maximum | Discounted Cash Flow | Mortality
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	1.1500	1
Market risk benefits liability | Maximum | Discounted Cash Flow | Surrender Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.3000	0.1000
Market risk benefits liability | Maximum | Discounted Cash Flow | Partial Withdrawals
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.2439	0.2326
Market risk benefits liability | Maximum | Discounted Cash Flow | Non-Performance Spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0098	0.0110
Market risk benefits liability | Maximum | Discounted Cash Flow | GMWB Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.6000	0.6000
Market risk benefits liability | Weighted Average | Discounted Cash Flow | Mortality
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	1	1
Market risk benefits liability | Weighted Average | Discounted Cash Flow | Surrender Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0522	0.0522
Market risk benefits liability | Weighted Average | Discounted Cash Flow | Partial Withdrawals
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0248	0.0250
Market risk benefits liability | Weighted Average | Discounted Cash Flow | Non-Performance Spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0082	0.0096
Market risk benefits liability | Weighted Average | Discounted Cash Flow | GMWB Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.5057	0.5081

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Changes to Fair Value of Financial Instruments Level 3 (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jul. 17, 2024
Liabilities:
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Recognized gains and (losses), net	Recognized gains and (losses), net	Recognized gains and (losses), net	Recognized gains and (losses), net
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Recognized gains and (losses), net	Recognized gains and (losses), net	Recognized gains and (losses), net	Recognized gains and (losses), net
PALH LLC
Liabilities:
Ownership interest prior to acquisition					30%
Level 3
Fixed maturity securities, available-for-sale:
Balance at Beginning of Period	$ 10,999	$ 8,734	$ 9,652	$ 8,262
Balance at End of Period	11,522	9,096	11,522	9,096
Liabilities:
Balance at Beginning of Period	5,398	4,134	4,661	3,397
Balance at End of Period	6,083	3,850	6,083	3,850
Indexed annuities/ IUL embedded derivatives
Liabilities:
Balance at Beginning of Period	4,848	3,821	4,258	3,115
Liabilities, Total Gains (Losses) Included in Earnings	308	(796)	452	(214)
Liabilities, Total Gains (Losses) Included in AOCI	0	0	0	0
Liabilities, Purchases	390	576	1,011	765
Liabilities, Sales	0	0	0	0
Liabilities, Settlements	(135)	(45)	(310)	(110)
Liabilities, Net transfer In (Out) of Level 3	0	0	0	0
Balance at End of Period	5,411	3,556	5,411	3,556
Change in Unrealized Gains (Losses) Incl in OCI	0	0	0	0
Interest rate swaps
Liabilities:
Balance at Beginning of Period	28	0	0	0
Liabilities, Total Gains (Losses) Included in Earnings	0	16	28	16
Liabilities, Total Gains (Losses) Included in AOCI		0	0	0
Liabilities, Purchases	0	0	0	0
Liabilities, Sales	0	0	0	0
Liabilities, Settlements	0	0	0	0
Liabilities, Net transfer In (Out) of Level 3	(28)	0	(28)	0
Balance at End of Period	0	16	0	16
Change in Unrealized Gains (Losses) Incl in OCI		0	0	0
Contingent consideration
Liabilities:
Balance at Beginning of Period	63		0
Liabilities, Total Gains (Losses) Included in Earnings	6		21
Liabilities, Total Gains (Losses) Included in AOCI	0		0
Liabilities, Purchases	0		48
Liabilities, Sales	0		0
Liabilities, Settlements	0		0
Liabilities, Net transfer In (Out) of Level 3	0		0
Balance at End of Period	69		69
Change in Unrealized Gains (Losses) Incl in OCI	0		0
Asset-backed securities
Fixed maturity securities, available-for-sale:
Balance at Beginning of Period	8,042	6,510	7,122	6,263
Assets, Total Gains (Losses) Included in Earnings	(3)	(45)	12	(56)
Assets, Total Gains (Losses) Included in AOCI	77	75	187	108
Assets, Purchases	515	536	1,981	1,331
Assets, Sales	(30)	(27)	(109)	(125)
Assets, Settlements	(358)	(171)	(904)	(557)
Assets, Net transfer In (Out) of Level 3	(59)	(121)	(105)	(207)
Balance at End of Period	8,184	6,757	8,184	6,757
Change in Unrealized Gains (Losses) Incl in OCI	77	75	184	107
Commercial mortgage-backed securities
Fixed maturity securities, available-for-sale:
Balance at Beginning of Period	15	17	18	37
Assets, Total Gains (Losses) Included in Earnings	0	0	0	0
Assets, Total Gains (Losses) Included in AOCI	0	0	0	1
Assets, Purchases	0	10	58	22
Assets, Sales	0	0	0	0
Assets, Settlements	0	0	0	0
Assets, Net transfer In (Out) of Level 3	(15)	0	(76)	(33)
Balance at End of Period	0	27	0	27
Change in Unrealized Gains (Losses) Incl in OCI	0	0	0	1
Corporates
Fixed maturity securities, available-for-sale:
Balance at Beginning of Period	2,350	1,618	1,970	1,427
Assets, Total Gains (Losses) Included in Earnings	(2)	0	(2)	(1)
Assets, Total Gains (Losses) Included in AOCI	65	(21)	78	(77)
Assets, Purchases	353	162	873	421
Assets, Sales	0	0	(93)	0
Assets, Settlements	(43)	(24)	(85)	(43)
Assets, Net transfer In (Out) of Level 3	0	0	(18)	8
Balance at End of Period	2,723	1,735	2,723	1,735
Change in Unrealized Gains (Losses) Incl in OCI	64	(21)	77	(77)
Municipals
Fixed maturity securities, available-for-sale:
Balance at Beginning of Period		49	49	29
Assets, Total Gains (Losses) Included in Earnings		0	0	0
Assets, Total Gains (Losses) Included in AOCI		(2)	1	18
Assets, Purchases		0	0	0
Assets, Sales		0	(50)	0
Assets, Settlements		0	0	0
Assets, Net transfer In (Out) of Level 3		0	0	0
Balance at End of Period	0	47	0	47
Change in Unrealized Gains (Losses) Incl in OCI		(2)	1	18
Residential mortgage-backed securities
Fixed maturity securities, available-for-sale:
Balance at Beginning of Period	3	28	3	302
Assets, Total Gains (Losses) Included in Earnings	0	0	0	1
Assets, Total Gains (Losses) Included in AOCI	0	(1)	0	7
Assets, Purchases	0	0	1	32
Assets, Sales	0	0	0	0
Assets, Settlements	0	(1)	0	(9)
Assets, Net transfer In (Out) of Level 3	0	(23)	(1)	(330)
Balance at End of Period	3	3	3	3
Change in Unrealized Gains (Losses) Incl in OCI	0	(1)	0	7
Foreign Governments
Fixed maturity securities, available-for-sale:
Balance at Beginning of Period	5	16	16	16
Assets, Total Gains (Losses) Included in Earnings	0	0	0	0
Assets, Total Gains (Losses) Included in AOCI	0	0	0	0
Assets, Purchases	0	0	0	0
Assets, Sales	0	0	0	0
Assets, Settlements	0	0	(11)	0
Assets, Net transfer In (Out) of Level 3	0	0	0	0
Balance at End of Period	5	16	5	16
Change in Unrealized Gains (Losses) Incl in OCI	0	0		0
Preferred securities
Fixed maturity securities, available-for-sale:
Balance at Beginning of Period	7	6	7	0
Assets, Total Gains (Losses) Included in Earnings	0	0	0	0
Assets, Total Gains (Losses) Included in AOCI	0	1	0	1
Assets, Purchases	0	0	0	0
Assets, Sales	0	0	0	0
Assets, Settlements	0	0	0	0
Assets, Net transfer In (Out) of Level 3	0	0	0	6
Balance at End of Period	7	7	7	7
Change in Unrealized Gains (Losses) Incl in OCI	0	1	0	1
Derivative investments
Fixed maturity securities, available-for-sale:
Balance at Beginning of Period	8		57
Assets, Total Gains (Losses) Included in Earnings	0		(50)
Assets, Total Gains (Losses) Included in AOCI	(1)		0
Assets, Purchases	0		0
Assets, Sales	0		0
Assets, Settlements	0		0
Assets, Net transfer In (Out) of Level 3	(7)		(7)
Balance at End of Period	0		0
Change in Unrealized Gains (Losses) Incl in OCI	0		1
Investment in unconsolidated affiliates
Fixed maturity securities, available-for-sale:
Balance at Beginning of Period	358	197	285	23
Assets, Total Gains (Losses) Included in Earnings	6	0	79	0
Assets, Total Gains (Losses) Included in AOCI	0	0	0	0
Assets, Purchases	0	75	0	249
Assets, Sales	0	0	0	0
Assets, Settlements	0	0	0	0
Assets, Net transfer In (Out) of Level 3	(92)	0	(92)	0
Balance at End of Period	272	272	272	272
Change in Unrealized Gains (Losses) Incl in OCI	0	0	0	0
Short term investments
Fixed maturity securities, available-for-sale:
Balance at Beginning of Period	71	126	0	0
Assets, Total Gains (Losses) Included in Earnings	0	0	0	0
Assets, Total Gains (Losses) Included in AOCI	0	0	0	0
Assets, Purchases	85	65	156	191
Assets, Sales	0	(19)	0	(19)
Assets, Settlements	0	(103)	0	(103)
Assets, Net transfer In (Out) of Level 3	0	0	0	0
Balance at End of Period	156	69	156	69
Change in Unrealized Gains (Losses) Incl in OCI	0	0	0	0
Available-for-sale embedded derivative
Fixed maturity securities, available-for-sale:
Balance at Beginning of Period	31	26	27	23
Assets, Total Gains (Losses) Included in Earnings	0	0	0	0
Assets, Total Gains (Losses) Included in AOCI	3	(3)	7	0
Assets, Purchases	0	0	0	0
Assets, Sales	0	0	0	0
Assets, Settlements	0	0	0	0
Assets, Net transfer In (Out) of Level 3	0	0	0	0
Balance at End of Period	34	23	34	23
Change in Unrealized Gains (Losses) Incl in OCI	3	(3)	7	0
Credit linked note
Fixed maturity securities, available-for-sale:
Balance at Beginning of Period	6	13	10	15
Assets, Total Gains (Losses) Included in Earnings	0	0	1	0
Assets, Total Gains (Losses) Included in AOCI	0	0	0	0
Assets, Purchases	0	0	0	0
Assets, Sales	0	0	0	0
Assets, Settlements	(2)	(1)	(7)	(3)
Assets, Net transfer In (Out) of Level 3	0	0	0	0
Balance at End of Period	4	12	4	12
Change in Unrealized Gains (Losses) Incl in OCI	0	0	0	0
Secured borrowing receivable
Fixed maturity securities, available-for-sale:
Balance at Beginning of Period		10		10
Assets, Total Gains (Losses) Included in Earnings		0		0
Assets, Total Gains (Losses) Included in AOCI		0		0
Assets, Purchases		0		0
Assets, Sales		0		0
Assets, Settlements		0		0
Assets, Net transfer In (Out) of Level 3		0		0
Balance at End of Period		10		10
Change in Unrealized Gains (Losses) Incl in OCI		0		0
Subtotal assets at Level 3 fair value
Fixed maturity securities, available-for-sale:
Assets, Total Gains (Losses) Included in Earnings	1	(45)	40	(56)
Assets, Total Gains (Losses) Included in AOCI	144	49	273	58
Assets, Purchases	953	848	3,069	2,246
Assets, Sales	(30)	(46)	(252)	(144)
Assets, Settlements	(403)	(300)	(1,007)	(715)
Assets, Net transfer In (Out) of Level 3	(173)	(144)	(299)	(556)
Change in Unrealized Gains (Losses) Incl in OCI	144	49	270	57
Subtotal assets at Level 3 fair value | Level 3
Fixed maturity securities, available-for-sale:
Balance at Beginning of Period	10,896	8,616	9,564	8,145
Balance at End of Period	11,388	8,978	11,388	8,978
Market risk benefits asset | Level 3
Fixed maturity securities, available-for-sale:
Balance at Beginning of Period	103	118	88	117
Balance at End of Period	134	118	134	118
Subtotal liabilities at Level 3 fair value
Liabilities:
Liabilities, Total Gains (Losses) Included in Earnings	314	(780)	501	(198)
Liabilities, Total Gains (Losses) Included in AOCI	0	0	0	0
Liabilities, Purchases	390	576	1,059	765
Liabilities, Sales	0	0	0	0
Liabilities, Settlements	(135)	(45)	(310)	(110)
Liabilities, Net transfer In (Out) of Level 3	(28)	0	(28)	0
Change in Unrealized Gains (Losses) Incl in OCI	0	0	0	0
Subtotal liabilities at Level 3 fair value | Level 3
Liabilities:
Balance at Beginning of Period	4,939	3,821	4,258	3,115
Balance at End of Period	5,480	3,572	5,480	3,572
Market risk benefits liability | Level 3
Liabilities:
Balance at Beginning of Period	459	313	403	282
Balance at End of Period	$ 603	$ 278	$ 603	$ 278

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Carrying Value and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
ASSETS
Investments in unconsolidated affiliates	$ 272	$ 285
Total Estimated Fair Value
ASSETS
FHLB common stock	153	138
Commercial mortgage loans	2,342	2,253
Residential mortgage loans	2,830	2,545
Investments in unconsolidated affiliates	3,394	2,786
Policy loans	94	71
Company-owned life insurance	390	362
Total	9,203	8,155
Liabilities:
Investment contracts, included in contractholder funds	44,762	40,229
Debt	2,126	1,777
Total	46,888	42,006
Carrying Amount
ASSETS
FHLB common stock	153	138
Commercial mortgage loans	2,572	2,538
Residential mortgage loans	3,054	2,798
Investments in unconsolidated affiliates	3,394	2,786
Policy loans	94	71
Company-owned life insurance	390	362
Total	9,657	8,693
Liabilities:
Investment contracts, included in contractholder funds	55,057	44,540
Debt	2,038	1,754
Total	57,095	46,294
Level 1
ASSETS
FHLB common stock	0	0
Commercial mortgage loans	0	0
Residential mortgage loans	0	0
Investments in unconsolidated affiliates	0	0
Policy loans	0	0
Company-owned life insurance	0	0
Total	0	0
Liabilities:
Investment contracts, included in contractholder funds	0	0
Debt	0	0
Total	0	0
Level 2
ASSETS
FHLB common stock	153	138
Commercial mortgage loans	0	0
Residential mortgage loans	0	0
Investments in unconsolidated affiliates	0	0
Policy loans	0	0
Company-owned life insurance	0	0
Total	153	138
Liabilities:
Investment contracts, included in contractholder funds	0	0
Debt	2,126	1,777
Total	2,126	1,777
Level 3
ASSETS
FHLB common stock	0	0
Commercial mortgage loans	2,342	2,253
Residential mortgage loans	2,830	2,545
Investments in unconsolidated affiliates	4	7
Policy loans	94	71
Company-owned life insurance	390	362
Total	5,660	5,238
Liabilities:
Investment contracts, included in contractholder funds	44,762	40,229
Debt	0	0
Total	44,762	40,229
NAV
ASSETS
Investments in unconsolidated affiliates	3,390	2,779
Total	$ 3,390	$ 2,779

Investments - Consolidated Inve

Investments - Consolidated Investments (Details) - USD ($) $ in Millions	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Available-for-sale securities
Amortized Cost	$ 49,026		$ 43,601
Allowance for Expected Credit Losses	(62)	$ (58)	(35)	$ (38)	$ (32)	$ (31)
Gross Unrealized Gains	797		444
Gross Unrealized Losses	(2,852)		(3,591)
Fair Value	46,909		40,419
Asset-backed securities
Available-for-sale securities
Amortized Cost	15,979		14,623
Allowance for Expected Credit Losses	(12)	(11)	(11)	(18)	(7)	(8)
Gross Unrealized Gains	264		191
Gross Unrealized Losses	(275)		(469)
Fair Value	15,956		14,334
Commercial mortgage-backed securities
Available-for-sale securities
Amortized Cost	5,304		4,732
Allowance for Expected Credit Losses	(49)	(46)	(22)	(17)	(18)	(1)
Gross Unrealized Gains	60		23
Gross Unrealized Losses	(191)		(323)
Fair Value	5,124		4,410
Corporates
Available-for-sale securities
Amortized Cost	22,302		18,780
Allowance for Expected Credit Losses	0		0	0		(15)
Gross Unrealized Gains	381		178
Gross Unrealized Losses	(2,072)		(2,379)
Fair Value	20,611		16,579
Hybrids
Available-for-sale securities
Amortized Cost	609		668
Allowance for Expected Credit Losses	0		0
Gross Unrealized Gains	6		3
Gross Unrealized Losses	(19)		(53)
Fair Value	596		618
Municipals
Available-for-sale securities
Amortized Cost	1,635		1,776
Allowance for Expected Credit Losses	0		0
Gross Unrealized Gains	20		14
Gross Unrealized Losses	(182)		(223)
Fair Value	1,473		1,567
Residential mortgage-backed securities
Available-for-sale securities
Amortized Cost	2,608		2,501
Allowance for Expected Credit Losses	(1)	$ (1)	(2)	$ (3)	$ (7)	$ (7)
Gross Unrealized Gains	61		29
Gross Unrealized Losses	(77)		(104)
Fair Value	2,591		2,424
U.S. Government
Available-for-sale securities
Amortized Cost	352		258
Allowance for Expected Credit Losses	0		0
Gross Unrealized Gains	2		4
Gross Unrealized Losses	(2)		(1)
Fair Value	352		261
Foreign Governments
Available-for-sale securities
Amortized Cost	237		263
Allowance for Expected Credit Losses	0		0
Gross Unrealized Gains	3		2
Gross Unrealized Losses	(34)		(39)
Fair Value	$ 206		$ 226

Investments - Narrative (Detail

Investments - Narrative (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024 USD ($) loan	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) loan	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) loan	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Securities, Available-for-sale [Line Items]
Non-income producing investment fair value	$ 29,000,000		$ 29,000,000		$ 47,000,000
Accrued interest receivable	$ 531,000,000		$ 531,000,000		$ 469,000,000
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other assets		Prepaid expenses and other assets		Prepaid expenses and other assets
FHLB collateral pledged	$ 5,123,000,000		$ 5,123,000,000		$ 4,345,000,000
PCD available for sale securities purchased			0		0
Fixed maturity securities, available-for-sale securities, allowance for credit losses	62,000,000	$ 38,000,000	62,000,000	$ 38,000,000	35,000,000	$ 58,000,000	$ 32,000,000	$ 31,000,000
Allowance for credit loss for securities in an unrealized loss position	0		$ 0
DSC ratio, amortization period			25 years
Amortized cost of loans on non-accrual	74,000,000		$ 74,000,000		$ 57,000,000
Gross investment income	786,000,000	641,000,000	2,228,000,000	1,808,000,000
Reinsurance agreement, recognized gains (losses)	$ (177,000,000)	43,000,000	$ (186,000,000)	42,000,000
Commercial Mortgage Loans
Debt Securities, Available-for-sale [Line Items]
Loans delinquent in principal or interest payments | loan	1		1		0
Funds Withheld, Reinsurance Agreements
Debt Securities, Available-for-sale [Line Items]
Gross investment income	$ 181,000,000	$ 102,000,000	$ 463,000,000	$ 236,000,000
90 days or more past due | Mortgage Loans
Debt Securities, Available-for-sale [Line Items]
Mortgage loans in process of foreclosure	$ 73,000,000		$ 73,000,000		$ 41,000,000
United States
Debt Securities, Available-for-sale [Line Items]
Residential mortgage loans, location percentage			100%
Commercial Mortgages
Debt Securities, Available-for-sale [Line Items]
Commercial mortgage loans, percentage of investments	4%		4%		5%
Charge offs			$ 0		$ 3,000,000
Amortized cost of loans on non-accrual	$ 0		$ 0		$ 0
Commercial Mortgages | Mortgage Loans
Debt Securities, Available-for-sale [Line Items]
Allowance for expected credit loss, probability of loss/default model, projected loss, using reasonable forecast period			2 years
Allowance for credit loss, probability of loss/default, using market historical loss experience, period			3 years
Residential Mortgages
Debt Securities, Available-for-sale [Line Items]
Percentage of total investments	5%		5%		5%
Charge offs			$ 0		$ 0
Amortized cost of loans on non-accrual	$ 74,000,000		$ 74,000,000		$ 57,000,000
Residential Mortgages | Mortgage Loans
Debt Securities, Available-for-sale [Line Items]
Allowance for expected credit loss, probability of loss/default model, projected loss, using reasonable forecast period			2 years
Allowance for credit loss, probability of loss/default, using market historical loss experience, period			3 years

Investments - Amortized Cost an

Investments - Amortized Cost and Fair Value of Fixed Maturity by Contractual Maturity (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Due in one year or less, Amortized Cost	$ 451	$ 383
Due after one year through five years, Amortized Cost	3,945	3,207
Due after five years through ten years, Amortized Cost	4,570	2,822
Due after ten years, Amortized Cost	16,169	15,333
Subtotal	25,135	21,745
Other securities which provide for periodic payments, Amortized Cost	23,891	21,856
Amortized Cost	49,026	43,601
Due in one year or less, Fair Value	450	374
Due after one year through five years, Fair Value	3,943	3,129
Due after five years through ten years, Fair Value	4,571	2,680
Due after ten years, Fair Value	14,274	13,068
Debt Securities, Available-for-Sale, Maturity, Allocated and Single Maturity Date, Fair Value, Total	23,238	19,251
Other securities which provide for periodic payments, Fair Value	23,671	21,168
Total fixed maturity available-for-sale securities	46,909	40,419
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Other securities which provide for periodic payments, Amortized Cost	15,979	14,623
Amortized Cost	15,979	14,623
Other securities which provide for periodic payments, Fair Value	15,956	14,334
Total fixed maturity available-for-sale securities	15,956	14,334
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Other securities which provide for periodic payments, Amortized Cost	5,304	4,732
Amortized Cost	5,304	4,732
Other securities which provide for periodic payments, Fair Value	5,124	4,410
Total fixed maturity available-for-sale securities	5,124	4,410
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Other securities which provide for periodic payments, Amortized Cost	2,608	2,501
Other securities which provide for periodic payments, Fair Value	$ 2,591	$ 2,424

Investments - Activity in Allow

Investments - Activity in Allowance for Credit Loss Aggregated by Investment Category (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period	$ (58)	$ (32)	$ (35)	$ (31)
Additions
For credit losses on securities for which losses were not previously recorded	(3)	(11)	(10)	(38)
(Additions) reductions in allowance recorded on previously impaired securities	(1)	5	(17)	16
Reductions
For securities sold during the period	0	0	0	15
For securities intended/required to be sold prior to recovery of amortized cost basis	0	0	0	0
Write offs charged against the allowance	0	0	0	0
Recoveries of amounts previously written off	0	0	0	0
Balance at End of Period	(62)	(38)	(62)	(38)
Asset-backed securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period	(11)	(7)	(11)	(8)
Additions
For credit losses on securities for which losses were not previously recorded	(1)	(7)	(2)	(13)
(Additions) reductions in allowance recorded on previously impaired securities	0	(4)	1	3
Reductions
For securities sold during the period	0	0	0	0
For securities intended/required to be sold prior to recovery of amortized cost basis	0	0	0	0
Write offs charged against the allowance	0	0	0	0
Recoveries of amounts previously written off	0	0	0	0
Balance at End of Period	(12)	(18)	(12)	(18)
Commercial mortgage-backed securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period	(46)	(18)	(22)	(1)
Additions
For credit losses on securities for which losses were not previously recorded	(3)	(1)	(8)	(21)
(Additions) reductions in allowance recorded on previously impaired securities	0	2	(19)	5
Reductions
For securities sold during the period	0	0	0	0
For securities intended/required to be sold prior to recovery of amortized cost basis	0	0	0	0
Write offs charged against the allowance	0	0	0	0
Recoveries of amounts previously written off	0	0	0	0
Balance at End of Period	(49)	(17)	(49)	(17)
Corporates
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period			0	(15)
Additions
For credit losses on securities for which losses were not previously recorded				0
(Additions) reductions in allowance recorded on previously impaired securities				0
Reductions
For securities sold during the period				15
For securities intended/required to be sold prior to recovery of amortized cost basis				0
Write offs charged against the allowance				0
Recoveries of amounts previously written off				0
Balance at End of Period	0	0	0	0
Residential mortgage-backed securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period	(1)	(7)	(2)	(7)
Additions
For credit losses on securities for which losses were not previously recorded	1	(3)	0	(4)
(Additions) reductions in allowance recorded on previously impaired securities	(1)	7	1	8
Reductions
For securities sold during the period	0	0	0	0
For securities intended/required to be sold prior to recovery of amortized cost basis	0	0	0	0
Write offs charged against the allowance	0	0	0	0
Recoveries of amounts previously written off	0	0	0	0
Balance at End of Period	$ (1)	$ (3)	$ (1)	$ (3)

Investments - Fair Value and Gr

Investments - Fair Value and Gross Unrealized Losses of Available-for-Sale Securities (Details) $ in Millions	Sep. 30, 2024 USD ($) security	Dec. 31, 2023 USD ($) security
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	$ 2,578	$ 5,594
Gross Unrealized Losses, Less than 12 months	(37)	(293)
Fair Value, 12 Months or longer	17,134	19,711
Gross Unrealized Losses, 12 months or longer	(2,772)	(3,242)
Total Fair Value	19,712	25,305
Total Gross Unrealized Losses	$ (2,809)	$ (3,535)
Total number of AFS securities in an unrealized loss position less than twelve months | security	529	927
Total number of AFS securities in an unrealized loss position twelve months or longer | security	2,200	2,602
Total number of AFS securities in an unrealized loss position | security	2,729	3,529
Asset-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	$ 583	$ 1,707
Gross Unrealized Losses, Less than 12 months	(19)	(56)
Fair Value, 12 Months or longer	3,447	5,835
Gross Unrealized Losses, 12 months or longer	(237)	(404)
Total Fair Value	4,030	7,542
Total Gross Unrealized Losses	(256)	(460)
Commercial mortgage-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	199	798
Gross Unrealized Losses, Less than 12 months	(5)	(53)
Fair Value, 12 Months or longer	1,674	1,916
Gross Unrealized Losses, 12 months or longer	(168)	(234)
Total Fair Value	1,873	2,714
Total Gross Unrealized Losses	(173)	(287)
Corporates
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	1,223	2,273
Gross Unrealized Losses, Less than 12 months	(7)	(128)
Fair Value, 12 Months or longer	9,973	9,779
Gross Unrealized Losses, 12 months or longer	(2,065)	(2,251)
Total Fair Value	11,196	12,052
Total Gross Unrealized Losses	(2,072)	(2,379)
Hybrids
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	47	60
Gross Unrealized Losses, Less than 12 months	(1)	(2)
Fair Value, 12 Months or longer	393	483
Gross Unrealized Losses, 12 months or longer	(18)	(51)
Total Fair Value	440	543
Total Gross Unrealized Losses	(19)	(53)
Municipals
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	82	392
Gross Unrealized Losses, Less than 12 months	(1)	(48)
Fair Value, 12 Months or longer	1,047	884
Gross Unrealized Losses, 12 months or longer	(181)	(174)
Total Fair Value	1,129	1,276
Total Gross Unrealized Losses	(182)	(222)
Residential mortgage-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	188	334
Gross Unrealized Losses, Less than 12 months	(3)	(5)
Fair Value, 12 Months or longer	445	660
Gross Unrealized Losses, 12 months or longer	(68)	(89)
Total Fair Value	633	994
Total Gross Unrealized Losses	(71)	(94)
U.S. Government
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	256	5
Gross Unrealized Losses, Less than 12 months	(1)	0
Fair Value, 12 Months or longer	10	9
Gross Unrealized Losses, 12 months or longer	(1)	(1)
Total Fair Value	266	14
Total Gross Unrealized Losses	(2)	(1)
Foreign Governments
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	0	25
Gross Unrealized Losses, Less than 12 months	0	(1)
Fair Value, 12 Months or longer	145	145
Gross Unrealized Losses, 12 months or longer	(34)	(38)
Total Fair Value	145	170
Total Gross Unrealized Losses	$ (34)	$ (39)

Investments - Distribution of C

Investments - Distribution of Commercial Mortgage Loan, Gross of Valuation Allowances, by Property Type and Region (Details) - USD ($) $ in Millions	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Allowance for expected credit loss	$ (69)	$ (64)	$ (66)	$ (64)	$ (64)	$ (42)
Total loans net of valuation allowance	5,626		5,336
Commercial Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 2,590		$ 2,550
% of Total	100%		100%
Allowance for expected credit loss	$ (18)	$ (14)	$ (12)	$ (15)	$ (13)	$ (10)
Total loans net of valuation allowance	2,572		2,538
East North Central | Commercial Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 98		$ 151
% of Total	4%		6%
East South Central | Commercial Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 75		$ 75
% of Total	3%		3%
Middle Atlantic | Commercial Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 354		$ 354
% of Total	14%		14%
Mountain | Commercial Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 409		$ 352
% of Total	16%		14%
New England | Commercial Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 164		$ 168
% of Total	6%		6%
Pacific | Commercial Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 713		$ 766
% of Total	27%		30%
South Atlantic | Commercial Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 595		$ 563
% of Total	23%		22%
West North Central | Commercial Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 22		$ 4
% of Total	1%		0%
West South Central | Commercial Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 160		$ 117
% of Total	6%		5%
Hotel | Commercial Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 17		$ 18
% of Total	1%		1%
Industrial | Commercial Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 617		$ 616
% of Total	24%		24%
Mixed Use | Commercial Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 11		$ 11
% of Total	0%		0%
Multifamily | Commercial Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 1,006		$ 1,012
% of Total	39%		40%
Office | Commercial Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 356		$ 316
% of Total	14%		13%
Retail | Commercial Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 99		$ 102
% of Total	4%		4%
Student Housing | Commercial Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 83		$ 392
% of Total	3%		15%
Other | Commercial Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 401		$ 83
% of Total	15%		3%

Investments - Commercial Mortga

Investments - Commercial Mortgage Loans Segregated by Aging of Loans and Charge Offs (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Charge offs
Loans under development, amortized cost		$ 22
Loans under development, fair value		22
Commercial Mortgages
Credit Quality Indicator Current Year [Abstract]
2024	$ 140	213
2023	221	288
2022	289	1,256
2021	1,253	512
2020	469	0
Prior	218	259
Total	2,590	2,528
Credit Quality Indicator Prior Year [Abstract]
2023	140	213
2022	221	288
2021	289	1,256
2020	1,253	512
2019	469	0
Prior	218	259
Total	2,590	2,528
Charge offs
Year one	0	0
Year two	0	0
Year three	0	0
Year four	0	0
Year five	0	0
Prior	0	3
Total	0	3
Commercial Mortgages | Current (less than 30 days past due)
Credit Quality Indicator Current Year [Abstract]
2024	140	213
2023	221	288
2022	289	1,256
2021	1,253	512
2020	469	0
Prior	209	259
Total	2,581	2,528
Credit Quality Indicator Prior Year [Abstract]
2023	140	213
2022	221	288
2021	289	1,256
2020	1,253	512
2019	469	0
Prior	209	259
Total	2,581	2,528
Commercial Mortgages | 30-89 days past due
Credit Quality Indicator Current Year [Abstract]
2024	0	0
2023	0	0
2022	0	0
2021	0	0
2020	0	0
Prior	9	0
Total	9	0
Credit Quality Indicator Prior Year [Abstract]
2023	0	0
2022	0	0
2021	0	0
2020	0	0
2019	0	0
Prior	9	0
Total	9	0
Commercial Mortgages | 90 days or more past due
Credit Quality Indicator Current Year [Abstract]
2024	0	0
2023	0	0
2022	0	0
2021	0	0
2020	0	0
Prior	0	0
Total	0	0
Credit Quality Indicator Prior Year [Abstract]
2023	0	0
2022	0	0
2021	0	0
2020	0	0
2019	0	0
Prior	0	0
Total	$ 0	$ 0

Investments - Schedule of Inves

Investments - Schedule of Investment in CMLs by Loan to Value and Debt Service Coverage Ratios (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Credit Quality Indicator Prior Year [Abstract]
Loans under development, amortized cost		$ 22
Loans under development, fair value		22
Commercial Mortgages
Schedule of Investments [Line Items]
Loans	$ 2,590	$ 2,528
% of Total	100%	100%
Credit Quality Indicator Current Year [Abstract]
2024	$ 140	$ 213
2023	221	288
2022	289	1,256
2021	1,253	512
2020	469	0
Prior	218	259
Total	2,590	2,528
Credit Quality Indicator Prior Year [Abstract]
2023	140	213
2022	221	288
2021	289	1,256
2020	1,253	512
2019	469	0
Prior	218	259
Total	2,590	2,528
Commercial Mortgages | Fair Value
Schedule of Investments [Line Items]
Loans	$ 2,342	$ 2,231
% of Total	100%	100%
Credit Quality Indicator Current Year [Abstract]
Total	$ 2,342	$ 2,231
Credit Quality Indicator Prior Year [Abstract]
Total	2,342	2,231
Commercial Mortgages | Less than 50.00%
Schedule of Investments [Line Items]
Loans	$ 516	$ 533
% of Total	20%	21%
Credit Quality Indicator Current Year [Abstract]
2024	$ 58	$ 85
2023	93	17
2022	18	77
2021	74	232
2020	189	0
Prior	84	122
Total	516	533
Credit Quality Indicator Prior Year [Abstract]
2023	58	85
2022	93	17
2021	18	77
2020	74	232
2019	189	0
Prior	84	122
Total	516	533
Commercial Mortgages | Less than 50.00% | Fair Value
Schedule of Investments [Line Items]
Loans	$ 501	$ 510
% of Total	21%	23%
Credit Quality Indicator Current Year [Abstract]
Total	$ 501	$ 510
Credit Quality Indicator Prior Year [Abstract]
Total	501	510
Commercial Mortgages | 50.00% to 59.99%
Schedule of Investments [Line Items]
Loans	$ 820	$ 764
% of Total	31%	30%
Credit Quality Indicator Current Year [Abstract]
2024	$ 59	$ 53
2023	53	149
2022	149	267
2021	267	158
2020	158	0
Prior	134	137
Total	820	764
Credit Quality Indicator Prior Year [Abstract]
2023	59	53
2022	53	149
2021	149	267
2020	267	158
2019	158	0
Prior	134	137
Total	820	764
Commercial Mortgages | 50.00% to 59.99% | Fair Value
Schedule of Investments [Line Items]
Loans	$ 752	$ 679
% of Total	32%	30%
Credit Quality Indicator Current Year [Abstract]
Total	$ 752	$ 679
Credit Quality Indicator Prior Year [Abstract]
Total	752	679
Commercial Mortgages | 60.00% to 74.99%
Schedule of Investments [Line Items]
Loans	$ 1,239	$ 1,216
% of Total	48%	48%
Credit Quality Indicator Current Year [Abstract]
2024	$ 23	$ 69
2023	69	113
2022	113	912
2021	912	122
2020	122	0
Prior	0	0
Total	1,239	1,216
Credit Quality Indicator Prior Year [Abstract]
2023	23	69
2022	69	113
2021	113	912
2020	912	122
2019	122	0
Prior	0	0
Total	1,239	1,216
Commercial Mortgages | 60.00% to 74.99% | Fair Value
Schedule of Investments [Line Items]
Loans	$ 1,074	$ 1,028
% of Total	46%	46%
Credit Quality Indicator Current Year [Abstract]
Total	$ 1,074	$ 1,028
Credit Quality Indicator Prior Year [Abstract]
Total	1,074	1,028
Commercial Mortgages | 75.00% to 84.99%
Schedule of Investments [Line Items]
Loans	$ 15	$ 15
% of Total	1%	1%
Credit Quality Indicator Current Year [Abstract]
2024	$ 0	$ 6
2023	6	9
2022	9	0
2021	0	0
2020	0	0
Prior	0	0
Total	15	15
Credit Quality Indicator Prior Year [Abstract]
2023	0	6
2022	6	9
2021	9	0
2020	0	0
2019	0	0
Prior	0	0
Total	15	15
Commercial Mortgages | 75.00% to 84.99% | Fair Value
Schedule of Investments [Line Items]
Loans	$ 15	$ 14
% of Total	1%	1%
Credit Quality Indicator Current Year [Abstract]
Total	$ 15	$ 14
Credit Quality Indicator Prior Year [Abstract]
Total	15	14
Greater than 1.25 | Commercial Mortgages
Schedule of Investments [Line Items]
Loans	2,430	2,443
Credit Quality Indicator Current Year [Abstract]
2024	72	154
2023	161	276
2022	278	1,256
2021	1,241	512
2020	469	0
Prior	209	245
Total	2,430	2,443
Credit Quality Indicator Prior Year [Abstract]
2023	72	154
2022	161	276
2021	278	1,256
2020	1,241	512
2019	469	0
Prior	209	245
Total	2,430	2,443
Greater than 1.25 | Commercial Mortgages | Less than 50.00%
Schedule of Investments [Line Items]
Loans	499	519
Credit Quality Indicator Current Year [Abstract]
Total	499	519
Credit Quality Indicator Prior Year [Abstract]
Total	499	519
Greater than 1.25 | Commercial Mortgages | 50.00% to 59.99%
Schedule of Investments [Line Items]
Loans	749	764
Credit Quality Indicator Current Year [Abstract]
Total	749	764
Credit Quality Indicator Prior Year [Abstract]
Total	749	764
Greater than 1.25 | Commercial Mortgages | 60.00% to 74.99%
Schedule of Investments [Line Items]
Loans	1,182	1,160
Credit Quality Indicator Current Year [Abstract]
Total	1,182	1,160
Credit Quality Indicator Prior Year [Abstract]
Total	1,182	1,160
Greater than 1.25 | Commercial Mortgages | 75.00% to 84.99%
Schedule of Investments [Line Items]
Loans	0	0
Credit Quality Indicator Current Year [Abstract]
Total	0	0
Credit Quality Indicator Prior Year [Abstract]
Total	0	0
Greater than 1.00 but less than 1.25 | Commercial Mortgages
Schedule of Investments [Line Items]
Loans	130	66
Credit Quality Indicator Current Year [Abstract]
2024	67	59
2023	60	3
2022	3	0
2021	0	0
2020	0	0
Prior	0	4
Total	130	66
Credit Quality Indicator Prior Year [Abstract]
2023	67	59
2022	60	3
2021	3	0
2020	0	0
2019	0	0
Prior	0	4
Total	130	66
Greater than 1.00 but less than 1.25 | Commercial Mortgages | Less than 50.00%
Schedule of Investments [Line Items]
Loans	8	4
Credit Quality Indicator Current Year [Abstract]
Total	8	4
Credit Quality Indicator Prior Year [Abstract]
Total	8	4
Greater than 1.00 but less than 1.25 | Commercial Mortgages | 50.00% to 59.99%
Schedule of Investments [Line Items]
Loans	59	0
Credit Quality Indicator Current Year [Abstract]
Total	59	0
Credit Quality Indicator Prior Year [Abstract]
Total	59	0
Greater than 1.00 but less than 1.25 | Commercial Mortgages | 60.00% to 74.99%
Schedule of Investments [Line Items]
Loans	57	56
Credit Quality Indicator Current Year [Abstract]
Total	57	56
Credit Quality Indicator Prior Year [Abstract]
Total	57	56
Greater than 1.00 but less than 1.25 | Commercial Mortgages | 75.00% to 84.99%
Schedule of Investments [Line Items]
Loans	6	6
Credit Quality Indicator Current Year [Abstract]
Total	6	6
Credit Quality Indicator Prior Year [Abstract]
Total	6	6
Less than 1.00 | Commercial Mortgages
Schedule of Investments [Line Items]
Loans	30	19
Credit Quality Indicator Current Year [Abstract]
2024	1	0
2023	0	9
2022	8	0
2021	12	0
2020	0	0
Prior	9	10
Total	30	19
Credit Quality Indicator Prior Year [Abstract]
2023	1	0
2022	0	9
2021	8	0
2020	12	0
2019	0	0
Prior	9	10
Total	30	19
Less than 1.00 | Commercial Mortgages | Less than 50.00%
Schedule of Investments [Line Items]
Loans	9	10
Credit Quality Indicator Current Year [Abstract]
Total	9	10
Credit Quality Indicator Prior Year [Abstract]
Total	9	10
Less than 1.00 | Commercial Mortgages | 50.00% to 59.99%
Schedule of Investments [Line Items]
Loans	12	0
Credit Quality Indicator Current Year [Abstract]
Total	12	0
Credit Quality Indicator Prior Year [Abstract]
Total	12	0
Less than 1.00 | Commercial Mortgages | 60.00% to 74.99%
Schedule of Investments [Line Items]
Loans	0	0
Credit Quality Indicator Current Year [Abstract]
Total	0	0
Credit Quality Indicator Prior Year [Abstract]
Total	0	0
Less than 1.00 | Commercial Mortgages | 75.00% to 84.99%
Schedule of Investments [Line Items]
Loans	9	9
Credit Quality Indicator Current Year [Abstract]
Total	9	9
Credit Quality Indicator Prior Year [Abstract]
Total	$ 9	$ 9

Investments - Distribution of R

Investments - Distribution of Residential Mortgage Loans by State (Details) - USD ($) $ in Millions	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Allowance for expected credit loss	$ (69)	$ (64)	$ (66)	$ (64)	$ (64)	$ (42)
Total loans net of valuation allowance	5,626		5,336
Residential Mortgages
Schedule of Investments [Line Items]
Amortized Cost	3,105		2,852
Allowance for expected credit loss	(51)	$ (50)	(54)	$ (49)	$ (51)	$ (32)
Total loans net of valuation allowance	$ 3,054		$ 2,798
% of Total	100%		100%
Florida | Residential Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 160		$ 163
% of Total	5%		6%
New York | Residential Mortgages
Schedule of Investments [Line Items]
Amortized Cost			$ 129
% of Total			5%
Texas | Residential Mortgages
Schedule of Investments [Line Items]
Amortized Cost			$ 129
% of Total			5%
All other states | Residential Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 2,945		$ 2,431
% of Total	95%		84%

Investments - Schedule of Resid

Investments - Schedule of Residential Mortgage Loans with Credit Quality Indicators, Performing or Nonperforming (Details) - USD ($) $ in Millions	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Allowance for expected loan loss	$ (69)	$ (64)	$ (66)	$ (64)	$ (64)	$ (42)
Total loans net of valuation allowance	5,626		5,336
Residential Mortgages
Schedule of Investments [Line Items]
Amortized Cost	$ 3,105		$ 2,852
% of Total	100%		100%
Allowance for expected loan loss	$ (51)	$ (50)	$ (54)	$ (49)	$ (51)	$ (32)
Total loans net of valuation allowance	3,054		2,798
Residential Mortgages | Performing Financial Instruments
Schedule of Investments [Line Items]
Amortized Cost	$ 3,031		$ 2,795
% of Total	98%		98%
Residential Mortgages | Nonperforming Financial Instruments
Schedule of Investments [Line Items]
Amortized Cost	$ 74		$ 57
% of Total	2%		2%

Investments - Schedule of Res_2

Investments - Schedule of Residential Loans Segregated by Risk Rating Exposure and Non-accrual Loans by Amortized Cost (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Amortized Cost of Non-Accrual Loans [Abstract]
Amortized cost of loans on non-accrual	$ 74	$ 57
Residential Mortgages
Credit Quality Indicator Current Year [Abstract]
2024	393	373
2023	377	995
2022	946	877
2021	858	208
2020	182	204
Prior	349	195
Total	3,105	2,852
Credit Quality Indicator Prior Year [Abstract]
2023	393	373
2022	377	995
2021	946	877
2020	858	208
2019	182	204
Prior	349	195
Total	3,105	2,852
Amortized Cost of Non-Accrual Loans [Abstract]
Amortized cost of loans on non-accrual	74	57
Commercial Mortgages
Credit Quality Indicator Current Year [Abstract]
Total	2,590	2,550
Credit Quality Indicator Prior Year [Abstract]
Total	2,590	2,550
Amortized Cost of Non-Accrual Loans [Abstract]
Amortized cost of loans on non-accrual	0	0
Current (less than 30 days past due) | Residential Mortgages
Credit Quality Indicator Current Year [Abstract]
2024	387	373
2023	372	985
2022	928	854
2021	822	192
2020	168	183
Prior	317	192
Total	2,994	2,779
Credit Quality Indicator Prior Year [Abstract]
2023	387	373
2022	372	985
2021	928	854
2020	822	192
2019	168	183
Prior	317	192
Total	2,994	2,779
30-89 days past due | Residential Mortgages
Credit Quality Indicator Current Year [Abstract]
2024	6	0
2023	3	4
2022	9	7
2021	8	3
2020	4	0
Prior	7	2
Total	37	16
Credit Quality Indicator Prior Year [Abstract]
2023	6	0
2022	3	4
2021	9	7
2020	8	3
2019	4	0
Prior	7	2
Total	37	16
90 days or more past due | Residential Mortgages
Credit Quality Indicator Current Year [Abstract]
2024	0	0
2023	2	6
2022	9	16
2021	28	13
2020	10	21
Prior	25	1
Total	74	57
Credit Quality Indicator Prior Year [Abstract]
2023	0	0
2022	2	6
2021	9	16
2020	28	13
2019	10	21
Prior	25	1
Total	$ 74	$ 57

Investments - Changes in Allowa

Investments - Changes in Allowance for Expected Credit Losses on Mortgage Loans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ (64)	$ (64)	$ (66)	$ (42)
Provision (expense) benefit for loan losses	(5)	0	(3)	(22)
Ending Balance	(69)	(64)	(69)	(64)
Residential Mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	(50)	(51)	(54)	(32)
Provision (expense) benefit for loan losses	(1)	2	3	(17)
Ending Balance	(51)	(49)	(51)	(49)
Commercial Mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	(14)	(13)	(12)	(10)
Provision (expense) benefit for loan losses	(4)	(2)	(6)	(5)
Ending Balance	$ (18)	$ (15)	$ (18)	$ (15)

Investments - Schedule of Sourc

Investments - Schedule of Sources of Net Investment Income Reported (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Schedule of Investments [Line Items]
Gross investment income	$ 786	$ 641	$ 2,228	$ 1,808
Investment expense	(74)	(63)	(216)	(186)
Interest and investment income	712	578	2,012	1,622
Fixed maturity securities, available-for-sale
Schedule of Investments [Line Items]
Gross investment income	562	476	1,620	1,356
Equity securities
Schedule of Investments [Line Items]
Gross investment income	5	5	16	14
Preferred securities
Schedule of Investments [Line Items]
Gross investment income	5	9	18	31
Mortgage loans
Schedule of Investments [Line Items]
Gross investment income	69	59	200	167
Invested cash and short-term investments
Schedule of Investments [Line Items]
Gross investment income	53	19	115	52
Limited partnerships
Schedule of Investments [Line Items]
Limited partnerships	83	68	234	169
Other investments
Schedule of Investments [Line Items]
Gross investment income	$ 9	$ 5	$ 25	$ 19

Investments - Recognized Gains

Investments - Recognized Gains (Loss), Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Schedule of Investments [Line Items]
Net realized gains (losses) on fixed maturity available-for-sale securities	$ (2)	$ (32)	$ 2	$ (128)
Net realized/unrealized gains on other invested assets	4	12	69	27
Change in allowance for expected credit losses	(10)	(4)	(33)	(33)
Realized gains (losses) on certain derivative instruments	30	(30)	65	(184)
Unrealized gains (losses) on certain derivative instruments	347	(297)	450	14
Change in fair value of other derivatives and embedded derivatives	3	(3)	6	0
Realized gains (losses) on derivatives and embedded derivatives	202	(294)	335	(136)
Recognized gains and (losses), net	206	(309)	401	(257)
Reinsurance related embedded derivatives
Schedule of Investments [Line Items]
Change in fair value of reinsurance related embedded derivatives	(178)	36	(186)	34
Equity securities
Schedule of Investments [Line Items]
Net realized/unrealized (losses) gains on equity securities and gains (losses) on preferred securities	3	7	11	15
Valuation gains	4	7	12	15
Preferred securities
Schedule of Investments [Line Items]
Net realized/unrealized (losses) gains on equity securities and gains (losses) on preferred securities	9	2	17	(2)
Valuation gains	$ 9	$ 3	$ 17	$ 47

Investments - Proceeds from Sal

Investments - Proceeds from Sale of Fixed Maturity AFS Securities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Proceeds	$ 1,471	$ 868	$ 2,626	$ 1,921
Gross gains	18	2	36	7
Gross losses	$ (20)	$ (27)	$ (52)	$ (106)

Investments - Schedule of Carry

Investments - Schedule of Carrying Value and Maximum Loss Exposure Unconsolidated VIEs (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Schedule of Investments [Line Items]
Carrying Value	$ 27,009	$ 23,908
Maximum Loss Exposure	28,934	27,152
Investment in unconsolidated affiliates
Schedule of Investments [Line Items]
Carrying Value	3,666	3,071
Maximum Loss Exposure	4,814	4,806
Fixed maturity securities
Schedule of Investments [Line Items]
Carrying Value	23,343	20,837
Maximum Loss Exposure	$ 24,120	$ 22,346

Investments - Schedules of Inve

Investments - Schedules of Investment Concentrations (Details) - Stockholders' Equity, Total - Investment Risk Concentration - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Blackstone Wave Asset Holdco
Schedule of Investments [Line Items]
Investment owned, at fair value	$ 716	$ 725
Blackstone Cooper Asset Holdco
Schedule of Investments [Line Items]
Investment owned, at fair value	522	0
Elba
Schedule of Investments [Line Items]
Investment owned, at fair value	0	463
COLI
Schedule of Investments [Line Items]
Investment owned, at fair value	$ 0	$ 324

Derivative Financial Instrume_3

Derivative Financial Instruments - Carrying Amounts of Derivative Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset	$ 1,435	$ 977
Derivatives liabilities	5,445	4,258
Derivative investments: | Equity options
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset	1,293	739
Derivative investments: | Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset	108	57
Derivative investments: | Other derivative investments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset	0	1
Other long-term investments: | Other embedded derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset	34	28
Prepaid expenses and other assets: | Reinsurance related embedded derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset	0	152
Contractholder funds: | Indexed annuities/ IUL embedded derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives liabilities	5,411	4,258
Accounts payable and accrued liabilities: | Reinsurance related embedded derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivatives liabilities	$ 34	$ 0

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule of Change in Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative [Line Items]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Recognized gains and (losses), net	Recognized gains and (losses), net
Equity options
Derivative [Line Items]
Recognized gains and (losses), net	$ 260	$ (308)	$ 487	$ (155)
Interest rate swaps
Derivative [Line Items]
Recognized gains and (losses), net	114	(19)	9	(19)
Futures contracts
Derivative [Line Items]
Recognized gains and (losses), net	7	(4)	18	1
Other derivative investments
Derivative [Line Items]
Recognized gains and (losses), net	(4)	4	1	3
Other embedded derivatives
Derivative [Line Items]
Recognized gains and (losses), net	3	(3)	6	0
Reinsurance related embedded derivatives
Derivative [Line Items]
Recognized gains and (losses), net	(178)	36	(186)	34
Total net investment gains
Derivative [Line Items]
Recognized gains and (losses), net	202	(294)	335	(136)
Indexed annuities/ IUL embedded derivatives increase
Derivative [Line Items]
Recognized gains and (losses), net	$ 563	$ (265)	$ 1,153	$ 441

Derivative Financial Instrume_5

Derivative Financial Instruments - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) counterparty contract	Dec. 31, 2023 USD ($) contract
Derivative [Line Items]
Counterparty, threshold not set to zero | counterparty	1
All Counterparties Except Merrill Lynch
Derivative [Line Items]
Counterparties, collateral required threshold	0%
Embedded derivatives
Derivative [Line Items]
Term of contract, term one	1 year
Term of contract, term two	2 years
Term of contract, term three	3 years
Term of contract, term four	5 years
Term of contract, term five	6 years
Equity options | Derivatives for Trading and Investment | Not Designated as Hedging Instrument
Derivative [Line Items]
Collateral	$ 1,348	$ 775
Net credit risk	53	39
Equity options | Cash and Cash Equivalents | Not Designated as Hedging Instrument
Derivative [Line Items]
Collateral	$ 1,133	$ 588
Futures contracts
Derivative [Line Items]
Number of instruments held | contract	392	439
Collateral held	$ 5	$ 4

Derivative Financial Instrume_6

Derivative Financial Instruments - Information Regarding Exposure to Credit Loss on Call Options Held (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Fair Value	$ 1,435	$ 977
Derivative Instruments, Excluding Futures | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional Amount	35,435	29,968
Fair Value	1,393	796
Collateral	1,348	775
Net Credit Risk	$ 53	$ 39

Reinsurance - Effect of Reinsur

Reinsurance - Effect of Reinsurance on Premiums Earned and Benefits Incurred and Reserve Changes (Details) - Life Insurance Product Line - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net Premiums Earned
Direct	$ 363	$ 508	$ 1,340	$ 1,319
Ceded	(23)	(26)	(71)	(79)
Net	340	482	1,269	1,240
Net Benefits Incurred
Direct	1,127	323	2,999	2,057
Ceded	(32)	(31)	(135)	(136)
Net	$ 1,095	$ 292	$ 2,864	$ 1,921

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) policy	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Insurance [Abstract]
Number of policies reinsured by foreign company not engaged in insurance | policy			0
Deposit contract assets	$ 10,500		$ 10,500		$ 7,500
Reinsurance risk charge fees	$ 10	$ 10	$ 32	$ 30

Reinsurance - Summary of Reinsu

Reinsurance - Summary of Reinsurance Recoverable (Details) - USD ($) $ in Millions	1 Months Ended				5 Months Ended	12 Months Ended
	Sep. 30, 2024	Aug. 31, 2024	Jul. 31, 2024	Jun. 30, 2024	May 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Effects of Reinsurance [Line Items]
Reinsurance recoverable, gross of allowance for credit losses	$ 12,425					$ 8,981
Allowance for expected credit loss	(21)			$ (21)		(21)	$ (10)	$ (9)	$ (10)
Reinsurance recoverable, net of allowance for credit losses	$ 12,404					$ 8,960
Reinsurance, retrocession, quota share basis, percentage	90%	90%	30%	30%	90%	90%
Aspida Life Re Ltd | Certain MYGA
Effects of Reinsurance [Line Items]
Reinsurance recoverable, gross of allowance for credit losses	$ 7,543					$ 6,128
Somerset Reinsurance Ltd | Certain MYGA and DA
Effects of Reinsurance [Line Items]
Reinsurance recoverable, gross of allowance for credit losses	2,181					716
Everlake Life Insurance Company | Certain MYGA
Effects of Reinsurance [Line Items]
Reinsurance recoverable, gross of allowance for credit losses	1,120					509
Wilton Reassurance Company | Block of traditional, IUL and UL
Effects of Reinsurance [Line Items]
Reinsurance recoverable, gross of allowance for credit losses	1,073					1,092
Other
Effects of Reinsurance [Line Items]
Reinsurance recoverable, gross of allowance for credit losses	$ 508					$ 536

Reinsurance - Allowance for Cre

Reinsurance - Allowance for Credit Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period	$ (21)	$ (9)	$ (21)	$ (10)
Changes in the expected credit loss reserve	0	(1)	0	0
Balance at End of Period	$ (21)	$ (10)	$ (21)	$ (10)

Intangibles - Reconciliation of

Intangibles - Reconciliation of Other Intangibles to Balance Sheet (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Value of business acquired (“VOBA”)	$ 1,389	$ 1,446	$ 1,487	$ 1,615
Deferred acquisition costs (“DAC”)	2,857	2,215
Deferred sales inducements (“DSI”)	538	346
Total Other intangible assets, net	5,349	4,207
Indefinite lived tradenames and other
Finite-Lived Intangible Assets [Line Items]
Indefinite lived tradenames and other	8	8
Value of distribution asset
Finite-Lived Intangible Assets [Line Items]
Definite lived	76	86
Computer software
Finite-Lived Intangible Assets [Line Items]
Definite lived	73	65
Definite lived trademarks, tradenames, and other
Finite-Lived Intangible Assets [Line Items]
Definite lived	125	41
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Definite lived	$ 283	$ 0

Intangibles - VOBA (Details)

Intangibles - VOBA (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
VOBA
VOBA at beginning of period	$ 1,446	$ 1,615
Amortization	(120)	(128)
Actuarial model updates and refinements	63
VOBA at end of period	1,389	1,487
Amortization	15
Indexed Annuities
VOBA
VOBA at beginning of period	1,025	1,166
Amortization	(101)	(106)
Actuarial model updates and refinements	0
VOBA at end of period	924	1,060
Fixed Rate Annuities
VOBA
VOBA at beginning of period	27	32
Amortization	(4)	(4)
Actuarial model updates and refinements	0
VOBA at end of period	23	28
Immediate Annuities
VOBA
VOBA at beginning of period	191	201
Amortization	(5)	(8)
Actuarial model updates and refinements	0
VOBA at end of period	186	193
Universal Life
VOBA
VOBA at beginning of period	134	143
Amortization	(5)	(7)
Actuarial model updates and refinements	0
VOBA at end of period	129	136
Traditional Life
VOBA
VOBA at beginning of period	69	73
Amortization	(5)	(3)
Actuarial model updates and refinements	63
VOBA at end of period	$ 127	$ 70

Intangibles - Narrative (Detail

Intangibles - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
VOBA amortization including actuarial model updates and refinements	$ 135
VOBA amortization	120	$ 128
DAC amortization	$ 200	135
Roar | Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible asset estimated useful life	12 years
PALH LLC | Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible asset estimated useful life	20 years
Indexed annuities
Goodwill and Intangible Assets Disclosure [Abstract]
VOBA amortization	$ 101	106
DAC amortization	112	75
Finite-Lived Intangible Assets [Line Items]
DSI amortization	$ 27	$ 15

Intangibles - DAC (Details)

Intangibles - DAC (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
DAC
DAC at beginning of period	$ 2,211	$ 1,402
Capitalization	842	657
Amortization	(200)	(135)
Reinsurance related adjustments		79
DAC at end of period	2,853	2,003
Indexed Annuities
DAC
DAC at beginning of period	1,378	971
Capitalization	496	371
Amortization	(112)	(75)
Reinsurance related adjustments		0
DAC at end of period	1,762	1,267
Fixed Rate Annuities
DAC
DAC at beginning of period	288	83
Capitalization	147	119
Amortization	(61)	(35)
Reinsurance related adjustments		79
DAC at end of period	374	246
Universal Life
DAC
DAC at beginning of period	545	348
Capitalization	199	167
Amortization	(27)	(25)
Reinsurance related adjustments		0
DAC at end of period	$ 717	$ 490

Intangibles - Reconciliation _2

Intangibles - Reconciliation of DAC to the Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Deferred acquisition costs (“DAC”)	$ 2,857	$ 2,215
Indexed annuities
Finite-Lived Intangible Assets [Line Items]
Deferred acquisition costs (“DAC”)	1,762	1,378
Fixed rate annuities
Finite-Lived Intangible Assets [Line Items]
Deferred acquisition costs (“DAC”)	374	288
Universal Life
Finite-Lived Intangible Assets [Line Items]
Deferred acquisition costs (“DAC”)	717	545
Funding Agreements
Finite-Lived Intangible Assets [Line Items]
Deferred acquisition costs (“DAC”)	$ 4	$ 4

Intangibles - DSI (Details)

Intangibles - DSI (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Movement in Deferred Sales Inducements [Roll Forward]
DSI at beginning of period	$ 346
DSI at end of period	538
Indexed annuities
Movement in Deferred Sales Inducements [Roll Forward]
DSI at beginning of period	346	$ 200
Capitalization	219	112
Amortization	(27)	(15)
DSI at end of period	$ 538	$ 297

Intangibles - Rollforward of Cu

Intangibles - Rollforward of Customer Relationship Intangibles Acquired in the Roar Acquisition (Details) - Customer relationships $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Finite-Lived Intangible Assets [Roll Forward]
Balance, Beginning	$ 0
Balance, Ending	283
Roar
Finite-Lived Intangible Assets [Roll Forward]
Balance, Beginning	0
Acquired	310
Amortization	(27)
Balance, Ending	$ 283

Intangibles - Estimated Amortiz

Intangibles - Estimated Amortization Expense for Customer Relationship and VOBA in Future Fiscal Periods (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Present Value of Future Insurance Profits, Expected Amortization, Next Five Years [Abstract]
2024	$ 38
2025	143
2026	130
2027	119
2028	108
Thereafter	851
Total	1,389	$ 1,446	$ 1,487	$ 1,615
Customer relationships
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2024	10
2025	35
2026	30
2027	26
2028	23
Thereafter	159
Total	$ 283	$ 0

Market Risk Benefits - Balances

Market Risk Benefits - Balances and Changes in Market Risk Benefit (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Indexed annuities
Market Risk Benefit, Changes In Market Risk Benefit [Roll Forward]
Balance, beginning of period, net liability	$ 314	$ 164
Balance, beginning of period, before effect of changes in the instrument-specific credit risk	209	102
Issuances and benefit payments	78	(10)
Attributed fees collected and interest accrual	103	131
Actual policyholder behavior different from expected	8	27
Changes in assumptions and other	32	29
Effects of market related movements	(31)	(70)
Balance, end of period, before effect of changes in the instrument-specific credit risk	399	209
Issuances and benefit payments	78	(10)
Attributed fees collected and interest accrual	103	131
Actual policyholder behavior different from expected	8	27
Changes in assumptions and other	32	29
Effects of market related movements	(31)	(70)
Effect of changes in the instrument-specific credit risk	112	105
Balance, end of period, net liability	$ 511	$ 314
Weighted-average attained age of policyholders weighted by total AV (years)	68 years 14 days	68 years 3 months 10 days
Net amount at risk	$ 1,390	$ 1,059
Fixed rate annuities
Market Risk Benefit, Changes In Market Risk Benefit [Roll Forward]
Balance, beginning of period, net liability	1	1
Balance, beginning of period, before effect of changes in the instrument-specific credit risk	1	1
Issuances and benefit payments	0	0
Attributed fees collected and interest accrual	0	0
Actual policyholder behavior different from expected	0	0
Changes in assumptions and other	0	0
Effects of market related movements	0	0
Balance, end of period, before effect of changes in the instrument-specific credit risk	1	1
Issuances and benefit payments	0	0
Attributed fees collected and interest accrual	0	0
Actual policyholder behavior different from expected	0	0
Changes in assumptions and other	0	0
Effects of market related movements	0	0
Effect of changes in the instrument-specific credit risk	0	0
Balance, end of period, net liability	1	1
Less: reinsured market risk benefits	0	0
Balance, end of period, net of reinsurance	$ 1	$ 1
Weighted-average attained age of policyholders weighted by total AV (years)	72 years 5 months 19 days	72 years 7 months 2 days
Net amount at risk	$ 2	$ 2
Indexed annuities
Market Risk Benefit, Changes In Market Risk Benefit [Roll Forward]
Less: reinsured market risk benefits	43	0
Balance, end of period, net of reinsurance	$ 468	$ 314

Market Risk Benefits - Schedule

Market Risk Benefits - Schedule of Reconciliation of Asset and Liability (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Market Risk Benefit [Line Items]
Market risk benefits asset	$ 134	$ 88
Market risk benefits liability	603	403
Direct
Market Risk Benefit [Line Items]
Market risk benefits asset	91	88
Market risk benefits liability	603	403
Reinsured
Market Risk Benefit [Line Items]
Market risk benefits asset	43	0
Market risk benefits liability	0	0
Fixed rate annuities
Market Risk Benefit [Line Items]
Market risk benefits asset	134	88
Market risk benefits liability	1	1
Fixed rate annuities | Direct
Market Risk Benefit [Line Items]
Market risk benefits asset	91	88
Market risk benefits liability	1	1
Fixed rate annuities | Reinsured
Market Risk Benefit [Line Items]
Market risk benefits asset	43	0
Market risk benefits liability	0	0
Indexed annuities
Market Risk Benefit [Line Items]
Market risk benefits asset	0	0
Market risk benefits liability	602	402
Indexed annuities | Direct
Market Risk Benefit [Line Items]
Market risk benefits asset	0	0
Market risk benefits liability	602	402
Indexed annuities | Reinsured
Market Risk Benefit [Line Items]
Market risk benefits asset	0	0
Market risk benefits liability	$ 0	$ 0

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	83%	19%	14%	29%
Deferred tax assets, valuation allowance	$ 64		$ 64		$ 85
Deferred tax assets	245		245		473
Valuation allowance, increase			21
LIHTC investments	$ 128		$ 128		$ 108

Income Taxes - Impacts of LIHTC

Income Taxes - Impacts of LIHTC Investments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Tax credits and other benefits recognized	$ (9)	$ (8)	$ (29)	$ (23)
Tax credit amortization expense	7	6	22	18
Total	$ (2)	$ (2)	$ (7)	$ (5)

Contractholder Funds - Summary

Contractholder Funds - Summary of Balances and Changes in Contractholder Funds (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Policyholder Account Balance [Roll Forward]
Balance, beginning of year			$ 48,798
Balance, end of period	$ 55,468		55,468		$ 48,798
Embedded derivative adjustment	3	$ (3)	6	$ 0
Gross liability, end of period	55,468		55,468		48,798
Less: Reinsurance	12,404		12,404		$ 8,960
Weighted-average crediting rate					1.40%
Indexed annuities
Policyholder Account Balance [Roll Forward]
Balance, beginning of year			27,164	24,766	$ 24,766
Issuances			4,829		4,722
Premiums received			85		103
Policy charge			(140)		(182)
Surrenders and withdrawals			(2,807)		(2,005)
Benefit payments			(368)		(526)
Interest credited			488		270
Other			5		16
Balance, end of period	29,256		29,256		27,164
Issuances			4,829		4,722
Premiums received			85		103
Policy charge			(140)		(182)
Surrenders and withdrawals			(2,807)		(2,005)
Benefit payments			(368)		(526)
Interest credited			488		270
Other			5		16
Embedded derivative adjustment			790		243
Gross liability, end of period	30,046		30,046		27,407
Less: Reinsurance	410		410		17
Net Liability, after Reinsurance	$ 29,636		$ 29,636		27,390
Weighted-average crediting rate	2.33%		2.33%
Cash surrender value	$ 26,985		$ 26,985		25,099
Fixed rate annuities
Policyholder Account Balance [Roll Forward]
Balance, beginning of year			13,443	9,358	9,358
Issuances			4,476		5,061
Premiums received			1		1
Policy charge			0		0
Surrenders and withdrawals			(1,184)		(1,142)
Benefit payments			(233)		(240)
Interest credited			476		405
Other			0		0
Balance, end of period	16,979		16,979		13,443
Issuances			4,476		5,061
Premiums received			1		1
Policy charge			0		0
Surrenders and withdrawals			(1,184)		(1,142)
Benefit payments			(233)		(240)
Interest credited			476		405
Other			0		0
Embedded derivative adjustment			0		0
Gross liability, end of period	16,979		16,979		13,443
Less: Reinsurance	10,471		10,471		7,520
Net Liability, after Reinsurance	$ 6,508		$ 6,508		$ 5,923
Weighted-average crediting rate	4.26%		4.26%		4.85%
Cash surrender value	$ 15,815		$ 15,815		$ 12,505
Universal Life
Policyholder Account Balance [Roll Forward]
Balance, beginning of year			2,391	2,112	2,112
Issuances			157		199
Premiums received			361		382
Policy charge			(231)		(261)
Surrenders and withdrawals			(75)		(90)
Benefit payments			(13)		(27)
Interest credited			108		76
Other			0		0
Balance, end of period	2,698		2,698		2,391
Issuances			157		199
Premiums received			361		382
Policy charge			(231)		(261)
Surrenders and withdrawals			(75)		(90)
Benefit payments			(13)		(27)
Interest credited			108		76
Other			0		0
Embedded derivative adjustment			119		84
Gross liability, end of period	2,817		2,817		2,475
Less: Reinsurance	883		883		894
Net Liability, after Reinsurance	$ 1,934		$ 1,934		$ 1,581
Weighted-average crediting rate	5.84%		5.84%		3.44%
Net amount at risk	$ 70,859		$ 70,859		$ 60,389
Cash surrender value	2,088		2,088		1,872
FABN
Policyholder Account Balance [Roll Forward]
Balance, beginning of year			2,613	2,613	2,613
Issuances			599		0
Premiums received			0		0
Policy charge			0		0
Surrenders and withdrawals			0		0
Benefit payments			(791)		(53)
Interest credited			51		54
Other			(1)		(1)
Balance, end of period	2,471		2,471		2,613
Issuances			599		0
Premiums received			0		0
Policy charge			0		0
Surrenders and withdrawals			0		0
Benefit payments			(791)		(53)
Interest credited			51		54
Other			(1)		(1)
Embedded derivative adjustment			0		0
Gross liability, end of period	2,471		2,471		2,613
Less: Reinsurance	0		0		0
Net Liability, after Reinsurance	2,471		2,471		2,613
FHLB
Policyholder Account Balance [Roll Forward]
Balance, beginning of year			2,539	$ 1,982	1,982
Issuances			1,803		1,256
Premiums received			0		0
Policy charge			0		0
Surrenders and withdrawals			0		0
Benefit payments			(1,576)		(763)
Interest credited			89		64
Other			(2)		0
Balance, end of period	2,853		2,853		2,539
Issuances			1,803		1,256
Premiums received			0		0
Policy charge			0		0
Surrenders and withdrawals			0		0
Benefit payments			(1,576)		(763)
Interest credited			89		64
Other			(2)		0
Embedded derivative adjustment			0		0
Gross liability, end of period	2,853		2,853		2,539
Less: Reinsurance	0		0		0
Net Liability, after Reinsurance	$ 2,853		$ 2,853		$ 2,539

Contractholder Funds - Reconcil

Contractholder Funds - Reconciliation to Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Policyholder Account Balance [Line Items]
Contractholder funds	$ 55,468	$ 48,798
Indexed annuities
Policyholder Account Balance [Line Items]
Contractholder funds	30,046	27,407
Fixed rate annuities
Policyholder Account Balance [Line Items]
Contractholder funds	16,979	13,443
Immediate annuities
Policyholder Account Balance [Line Items]
Contractholder funds	292	311
Universal Life
Policyholder Account Balance [Line Items]
Contractholder funds	2,817	2,475
Traditional Life
Policyholder Account Balance [Line Items]
Contractholder funds	5	5
Funding Agreement-FABN
Policyholder Account Balance [Line Items]
Contractholder funds	2,471	2,613
FHLB
Policyholder Account Balance [Line Items]
Contractholder funds	2,853	2,539
PRT
Policyholder Account Balance [Line Items]
Contractholder funds	$ 5	$ 5

Contractholder Funds - Narrativ

Contractholder Funds - Narrative (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Insurance [Abstract]
Change in total benefits and other changes in policy reserves	$ (79)	$ 73

Contractholder Funds - Account

Contractholder Funds - Account Values by Range of Guaranteed Minimum Credit Rating (Details) $ in Millions	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Policyholder Account Balance [Line Items]
Contractholder funds	$ 55,468	$ 48,798
1 Basis Point-50 Basis Points Above | Minimum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	0.0001	0.0001
1 Basis Point-50 Basis Points Above | Maximum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	0.0050	0.0050
51 Basis Points-150 Basis Points Above | Minimum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	0.0051	0.0051
51 Basis Points-150 Basis Points Above | Maximum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	0.0150	0.0150
Greater Than 150 Basis Points Above | Minimum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	0.0150	0.0150
Indexed annuities
Policyholder Account Balance [Line Items]
Contractholder funds	$ 29,256	$ 27,164	$ 24,766
Indexed annuities | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Contractholder funds	24,112	22,965
Indexed annuities | 1 Basis Point-50 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	1,288	1,446
Indexed annuities | 51 Basis Points-150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	962	550
Indexed annuities | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	2,894	2,203
Indexed annuities | 0.00% to 1.50%
Policyholder Account Balance [Line Items]
Contractholder funds	26,729	26,315
Indexed annuities | 0.00% to 1.50% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Contractholder funds	23,095	22,392
Indexed annuities | 0.00% to 1.50% | 1 Basis Point-50 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	1,285	1,444
Indexed annuities | 0.00% to 1.50% | 51 Basis Points-150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	502	526
Indexed annuities | 0.00% to 1.50% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	1,847	1,953
Indexed annuities | 1.51% to 2.50%
Policyholder Account Balance [Line Items]
Contractholder funds	2,207	471
Indexed annuities | 1.51% to 2.50% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Contractholder funds	700	196
Indexed annuities | 1.51% to 2.50% | 1 Basis Point-50 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	1	1
Indexed annuities | 1.51% to 2.50% | 51 Basis Points-150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	460	24
Indexed annuities | 1.51% to 2.50% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	1,046	250
Indexed annuities | Greater Than 2.50%
Policyholder Account Balance [Line Items]
Contractholder funds	320	378
Indexed annuities | Greater Than 2.50% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Contractholder funds	317	377
Indexed annuities | Greater Than 2.50% | 1 Basis Point-50 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	2	1
Indexed annuities | Greater Than 2.50% | 51 Basis Points-150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	0	0
Indexed annuities | Greater Than 2.50% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	1	0
Fixed rate annuities
Policyholder Account Balance [Line Items]
Contractholder funds	16,979	13,443	9,358
Fixed rate annuities | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Contractholder funds	876	921
Fixed rate annuities | 1 Basis Point-50 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	30	35
Fixed rate annuities | 51 Basis Points-150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	948	1,559
Fixed rate annuities | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	15,125	10,928
Fixed rate annuities | 0.00% to 1.50%
Policyholder Account Balance [Line Items]
Contractholder funds	14,847	11,851
Fixed rate annuities | 0.00% to 1.50% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Contractholder funds	46	23
Fixed rate annuities | 0.00% to 1.50% | 1 Basis Point-50 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	21	25
Fixed rate annuities | 0.00% to 1.50% | 51 Basis Points-150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	925	1,532
Fixed rate annuities | 0.00% to 1.50% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	13,855	10,271
Fixed rate annuities | 1.51% to 2.50%
Policyholder Account Balance [Line Items]
Contractholder funds	491	489
Fixed rate annuities | 1.51% to 2.50% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Contractholder funds	4	5
Fixed rate annuities | 1.51% to 2.50% | 1 Basis Point-50 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	7	8
Fixed rate annuities | 1.51% to 2.50% | 51 Basis Points-150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	20	23
Fixed rate annuities | 1.51% to 2.50% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	460	453
Fixed rate annuities | Greater Than 2.50%
Policyholder Account Balance [Line Items]
Contractholder funds	1,641	1,103
Fixed rate annuities | Greater Than 2.50% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Contractholder funds	826	893
Fixed rate annuities | Greater Than 2.50% | 1 Basis Point-50 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	2	2
Fixed rate annuities | Greater Than 2.50% | 51 Basis Points-150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	3	4
Fixed rate annuities | Greater Than 2.50% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	810	204
Universal Life
Policyholder Account Balance [Line Items]
Contractholder funds	2,698	2,391	$ 2,112
Universal Life | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Contractholder funds	2,669	2,348
Universal Life | 1 Basis Point-50 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	6	21
Universal Life | 51 Basis Points-150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	1	1
Universal Life | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	22	21
Universal Life | 0.00% to 1.50%
Policyholder Account Balance [Line Items]
Contractholder funds	2,331	2,013
Universal Life | 0.00% to 1.50% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Contractholder funds	2,303	1,987
Universal Life | 0.00% to 1.50% | 1 Basis Point-50 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	6	5
Universal Life | 0.00% to 1.50% | 51 Basis Points-150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	0	0
Universal Life | 0.00% to 1.50% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	22	21
Universal Life | 1.51% to 2.50%
Policyholder Account Balance [Line Items]
Contractholder funds	0	0
Universal Life | 1.51% to 2.50% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Contractholder funds	0	0
Universal Life | 1.51% to 2.50% | 1 Basis Point-50 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	0	0
Universal Life | 1.51% to 2.50% | 51 Basis Points-150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	0	0
Universal Life | 1.51% to 2.50% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	0	0
Universal Life | Greater Than 2.50%
Policyholder Account Balance [Line Items]
Contractholder funds	367	378
Universal Life | Greater Than 2.50% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Contractholder funds	366	361
Universal Life | Greater Than 2.50% | 1 Basis Point-50 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	0	16
Universal Life | Greater Than 2.50% | 51 Basis Points-150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	1	1
Universal Life | Greater Than 2.50% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Contractholder funds	$ 0	$ 0

Future Policy Benefits - Summar

Future Policy Benefits - Summary Balances and Changes in the Present Value of Expected Net Premiums and Present Value of FPB (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for future policy benefits	$ 8,268	$ 7,050
Traditional Life
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of year	722	797
Beginning balance at original discount rate	874	974
Effect of actual variances from expected experience		(4)	$ (1)
Balance adjusted for variances from expectation		870	973
Interest accrual	13	19
Net premiums collected	(82)	(118)
Ending Balance at original discount rate	801	874
Effect of actual variances from expected experience		(4)	(1)
Effect of changes in discount rate assumptions	(128)	(152)
Balance, end of period	673	722
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of year	2,071	2,151
Beginning balance of original discount rate	2,492	2,665
Effect of actual variances from expected experience		48	(24)
Balance adjusted for variances from expectation		2,540	2,641
Interest accrual	41	56
Benefits payments	(165)	(205)
Ending Balance at original discount rate	2,416	2,492
Effect of actual variances from expected experience		48	(24)
Balance adjusted for variances from expectation		2,540	2,641
Interest accrual	41	56
Benefits payments	(165)	(205)
Effect of changes in discount rate assumptions	(358)	(421)
Balance, end of period	2,058	2,071
Net liability for future policy benefits	1,385	1,349
Less: Reinsurance recoverable	525	413
Net liability for future policy benefits, after reinsurance recoverable	$ 860	$ 936
Weighted-average duration of liability for future policyholder benefits (years)	6 years 10 months 13 days	7 years 4 months 9 days
PRT
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of year	$ 4,189	$ 2,165
Beginning balance of original discount rate	4,351	2,475
Effect of changes in cash flow assumptions		4	(9)
Effect of actual variances from expected experience		(20)	(7)
Balance adjusted for variances from expectation		4,335	2,459
Issuances	1,300	2,041
Interest accrual	168	109
Benefits payments	(346)	(258)
Ending Balance at original discount rate	5,457	4,351
Effect of changes in cash flow assumptions		4	(9)
Effect of actual variances from expected experience		(20)	(7)
Balance adjusted for variances from expectation		4,335	2,459
Issuances	1,300	2,041
Interest accrual	168	109
Benefits payments	(346)	(258)
Effect of changes in discount rate assumptions	(63)	(162)
Balance, end of period	5,394	4,189
Net liability for future policy benefits	5,394	4,189
Net liability for future policy benefits, after reinsurance recoverable	$ 5,394	$ 4,189
Weighted-average duration of liability for future policyholder benefits (years)	7 years 11 months 12 days	8 years 2 months 23 days
Immediate annuities
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of year	$ 1,415	$ 1,429
Beginning balance of original discount rate	1,788	1,858
Effect of changes in cash flow assumptions		0	0
Effect of actual variances from expected experience		(26)	(15)
Balance adjusted for variances from expectation		1,762	1,843
Issuances	27	22
Interest accrual	46	51
Benefits payments	(88)	(128)
Ending Balance at original discount rate	1,747	1,788
Effect of changes in cash flow assumptions		0	0
Effect of actual variances from expected experience		(26)	(15)
Balance adjusted for variances from expectation		1,762	$ 1,843
Issuances	27	22
Interest accrual	46	51
Benefits payments	(88)	(128)
Effect of changes in discount rate assumptions	(354)	(373)
Balance, end of period	1,393	1,415
Net liability for future policy benefits	1,393	1,415
Less: Reinsurance recoverable	115	116
Net liability for future policy benefits, after reinsurance recoverable	$ 1,278	$ 1,299
Weighted-average duration of liability for future policyholder benefits (years)	12 years 10 months 20 days	12 years 5 months 19 days

Future Policy Benefits - Summ_2

Future Policy Benefits - Summary of Balances and Changes in the Deferred Profit Liability (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Immediate annuities
Deferred Profit Liability Activity [Roll Forward]
Balance, beginning of year	$ 87	$ 69
Effect of modeling changes		0	$ 4
Effect of changes in cash flow assumptions		0	0
Effect of actual variances from expected experience		6	16
Balance adjusted for variances from expectation		93	89
Issuances	2	3
Interest accrual	1	2
Amortization	(6)	(7)
Balance, end of period	90	87
Effect of modeling changes		0	4
Effect of changes in cash flow assumptions		0	0
Effect of actual variances from expected experience		6	16
PRT
Deferred Profit Liability Activity [Roll Forward]
Balance, beginning of year	10	4
Effect of modeling changes		0	0
Effect of changes in cash flow assumptions		(7)	1
Effect of actual variances from expected experience		0	5
Balance adjusted for variances from expectation		3	10
Issuances	0	0
Interest accrual	4	1
Amortization	(1)	(1)
Balance, end of period	$ 6	10
Effect of modeling changes		0	0
Effect of changes in cash flow assumptions		(7)	1
Effect of actual variances from expected experience		$ 0	$ 5

Future Policy Benefits - Reconc

Future Policy Benefits - Reconciliation of Net FPB to the Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	$ 8,268	$ 7,050
Traditional Life
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	1,385	1,349
Immediate annuities
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	1,393	1,415
Deferred profit liability	90	87	$ 69
PRT
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	5,394	4,189
Deferred profit liability	6	10	$ 4
Immediate annuities DPL
Liability for Future Policy Benefit, Activity [Line Items]
Deferred profit liability	90	87
PRT DPL
Liability for Future Policy Benefit, Activity [Line Items]
Deferred profit liability	$ 6	$ 10

Future Policy Benefits - Liabil

Future Policy Benefits - Liability for Future Policy Benefit Expected Future Policy Benefit Undiscounted (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023
Traditional Life
Liability for Future Policy Benefit, Expected Future Policy Benefit, Undiscounted [Abstract]
Expected future benefit payments	$ 2,843	$ 2,996
Expected future gross premiums	978	1,116
Liability For Future Policy Benefit, Expected Future Policy Benefit, Discounted [Abstract]
Expected future benefit payments	2,073	1,984
Expected future gross premiums	728	772
Immediate annuities
Liability for Future Policy Benefit, Expected Future Policy Benefit, Undiscounted [Abstract]
Expected future benefit payments	3,212	3,227
Expected future gross premiums	0	0
Liability For Future Policy Benefit, Expected Future Policy Benefit, Discounted [Abstract]
Expected future benefit payments	1,392	1,313
Expected future gross premiums	0	0
PRT
Liability for Future Policy Benefit, Expected Future Policy Benefit, Undiscounted [Abstract]
Expected future benefit payments	8,449	5,445
Expected future gross premiums	0	0
Liability For Future Policy Benefit, Expected Future Policy Benefit, Discounted [Abstract]
Expected future benefit payments	5,470	3,605
Expected future gross premiums	$ 0	$ 0

Future Policy Benefits - Gross

Future Policy Benefits - Gross Premium Income and Interest Expense (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Gross premium income	$ 1,340	$ 1,319
Interest expense	242	149
Traditional Life
Liability for Future Policy Benefit, Activity [Line Items]
Gross premium income	84	94
Interest expense	28	28
Immediate annuities
Liability for Future Policy Benefit, Activity [Line Items]
Gross premium income	16	18
Interest expense	46	42
PRT
Liability for Future Policy Benefit, Activity [Line Items]
Gross premium income	1,240	1,207
Interest expense	$ 168	$ 79

Future Policy Benefits - Weight

Future Policy Benefits - Weighted Average Rates (Details)	Sep. 30, 2024	Dec. 31, 2023
Traditional Life
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	2.34%	2.33%
Current discount rate	4.95%	5.03%
Immediate annuities
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	3.17%	3.14%
Current discount rate	4.90%	4.98%
PRT
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	4.70%	4.61%
Current discount rate	4.85%	5.03%

Future Policy Benefits - Actual

Future Policy Benefits - Actual Experience and Expected Experience for Mortality and Lapses (Details)	Sep. 30, 2024	Dec. 31, 2023
Actual experience | Traditional Life
Liability for Future Policy Benefit, Activity [Line Items]
Mortality rate	1.40%	1.70%
Lapse rate	0.10%	0%
Actual experience | Immediate annuities
Liability for Future Policy Benefit, Activity [Line Items]
Mortality rate	2.70%	3.20%
Lapse rate	0%	0%
Actual experience | PRT
Liability for Future Policy Benefit, Activity [Line Items]
Mortality rate	3%	3.20%
Lapse rate	0%	0%
Expected experience | Traditional Life
Liability for Future Policy Benefit, Activity [Line Items]
Mortality rate	1.50%	1.40%
Lapse rate	0.50%	0.30%
Expected experience | Immediate annuities
Liability for Future Policy Benefit, Activity [Line Items]
Mortality rate	1.90%	1.80%
Lapse rate	0%	0%
Expected experience | PRT
Liability for Future Policy Benefit, Activity [Line Items]
Mortality rate	2.50%	2.30%
Lapse rate	0%	0%

Future Policy Benefits - Additi

Future Policy Benefits - Additional Information, Cohort NPR (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Insurance [Abstract]
NPR before capping	109%
Reserves before NPR capping	$ 1,219
Reserves after NPR capping	1,250
Loss Expense	$ 31

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Unearned revenue liabilities	$ 366	$ 270

Accounts Payable and Accrued _4

Accounts Payable and Accrued Liabilities - Reconciliation (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Salaries and incentives	$ 95	$ 99
Accrued benefits	66	60
URL	366	270
Trade accounts payable	187	297
Liability for policy and contract claims	93	92
Retained asset account	64	81
Remittances and items not allocated	296	284
Option collateral liabilities	1,133	588
Lease liability	10	11
Investment purchases payable	647	21
Contingent consideration	69	0
Other accrued liabilities	265	208
Accounts payable and accrued liabilities	$ 3,291	$ 2,011

Accounts Payable and Accrued _5

Accounts Payable and Accrued Liabilities - Rollforward of Unearned Revenue Liabilities (URL) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Contract With Customer Liability [Roll Forward]
Balance, beginning	$ 270
Balance, ending	366
Universal Life
Contract With Customer Liability [Roll Forward]
Balance, beginning	270	$ 166
Capitalization	110	87
Amortization	(14)	(12)
Balance, ending	$ 366	$ 241

Notes Payable - Components of N

Notes Payable - Components of Notes Payable (Details) - USD ($) $ in Millions	Sep. 30, 2024	Jun. 04, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Notes payable	$ 2,038		$ 1,754
6.50% Senior Notes due 2029 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	6.50%	6.50%
Debt issuance costs	$ 6		0
Notes payable	$ 544		0
7.95% Senior Notes Due 2053 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	7.95%
Debt issuance costs	$ 9		9
Notes payable	$ 336		336
7.40% Senior Notes Due 2028 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	7.40%
Debt issuance costs	$ 4		5
Notes payable	$ 496		495
5.50% F&G Notes | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	5.50%
Debt issuance costs	$ 4		11
Notes payable	304		561
Credit Agreement | Revolving Credit Facility | Credit Facility
Debt Instrument [Line Items]
Debt issuance costs	7		3
Notes payable	$ 358		$ 362

Notes Payable - Narrative (Deta

Notes Payable - Narrative (Details) - USD ($) $ in Millions		9 Months Ended		12 Months Ended
	Jun. 04, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Oct. 04, 2024	Feb. 16, 2024	Feb. 15, 2024
Debt Instrument [Line Items]
Repayments of senior notes		$ 250	$ 0
Notes payable		$ 2,038		$ 1,754
6.50% Senior Notes due 2029 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	6.50%	6.50%
Aggregate principal amount	$ 550
Offering of unsecured notes (in percentage)	99.74%
Debt issuance costs		$ 6		0
Notes payable		544		0
Credit Agreement | Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Debt issuance costs		7		3
Notes payable		358		$ 362
Credit facility, maximum borrowing capacity						$ 750	$ 665
Credit facility, remaining borrowing available		$ 385
Average variable interest rate		7.08%		7.11%
6.250% Senior Notes due 2034 | Senior Notes | Subsequent Event
Debt Instrument [Line Items]
Interest rate, stated percentage					6.25%
Aggregate principal amount					$ 500
7.95% Senior Notes Due 2053 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage		7.95%
Debt issuance costs		$ 9		$ 9
Notes payable		$ 336		336
7.40% Senior Notes Due 2028 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage		7.40%
Debt issuance costs		$ 4		5
Notes payable		$ 496		495
5.50% F&G Notes | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage		5.50%
Debt issuance costs		$ 4		11
Repayments of senior notes	$ 250
Notes payable		$ 304		$ 561

Notes Payable - Interest Expens

Notes Payable - Interest Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 04, 2024
Debt Instrument [Line Items]
Interest expense	$ 36	$ 24	$ 94	$ 71
6.50% F&G Notes | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	6.50%		6.50%		6.50%
Interest expense	$ 9	0	$ 12	0
7.95% F&G Notes | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	7.95%		7.95%
Interest expense	$ 6	0	$ 21	0
7.40% F&G Notes | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	7.40%		7.40%
Interest expense	$ 10	9	$ 29	27
5.50% F&G Notes | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	5.50%		5.50%
Interest expense	$ 4	6	$ 11	17
Revolving Credit Facility | Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Interest expense	$ 7	$ 9	$ 21	$ 27

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash paid (refunded) for:
Interest paid	$ 93	$ 60
Income taxes (refunded) paid	(10)	3
Deferred sales inducements	219	112
Non-cash investing and financing activities:
Investments received from pension risk transfer premiums	0	464
Change in proceeds of sales of investments available for sale receivable in period	(87)	34
Change in purchases of investments available for sale payable in period	$ 633	$ 146

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions				9 Months Ended
	Jan. 11, 2024 USD ($)	Jan. 02, 2024 USD ($)	Sep. 07, 2023 lawsuit	Sep. 30, 2024 USD ($) lawsuit	Sep. 30, 2023 USD ($)
Loss Contingencies [Line Items]
Issuance of preferred stock				$ 250	$ 0
Roar
Loss Contingencies [Line Items]
Contingent consideration obligation, payments (up to)		$ 90
Contingent consideration liability payment period		3 years
Loan Commitment | Roar
Loss Contingencies [Line Items]
Loan principal outstanding				$ 6
Loan Commitment | Roar | Maximum
Loss Contingencies [Line Items]
Loan agreement with seller (up to)		$ 40
Series A Mandatory Convertible Preferred Stock
Loss Contingencies [Line Items]
Issuance of preferred stock	$ 250
Preferred stock, dividend rate, percentage	6.875%
Damages from Data Breach
Loss Contingencies [Line Items]
Similar lawsuits against other entities (over) | lawsuit				150
Pending Litigation | Damages from Data Breach
Loss Contingencies [Line Items]
Lawsuits filed | lawsuit				2
Cooper v. Progress Software Corp., No. 1:23-cv-12067
Loss Contingencies [Line Items]
Number of defendants | lawsuit			5

Commitments and Contingencies_2

Commitments and Contingencies - Unfunded Commitments (Details) $ in Millions	Sep. 30, 2024 USD ($)
Limited partnerships
Other Commitments [Line Items]
Unfunded investment commitment	$ 1,148
Whole loans
Other Commitments [Line Items]
Unfunded investment commitment	949
Fixed maturity securities, ABS
Other Commitments [Line Items]
Unfunded investment commitment	359
Direct Lending
Other Commitments [Line Items]
Unfunded investment commitment	273
Other fixed maturity securities, AFS
Other Commitments [Line Items]
Unfunded investment commitment	43
Commercial mortgage loans
Other Commitments [Line Items]
Unfunded investment commitment	79
Other assets
Other Commitments [Line Items]
Unfunded investment commitment	145
Other invested assets
Other Commitments [Line Items]
Unfunded investment commitment	109
Total
Other Commitments [Line Items]
Unfunded investment commitment	$ 3,105

Insurance Subsidiary Financia_3

Insurance Subsidiary Financial Information and Regulatory Matters - Statutory Accounting Practices Disclosure (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Iowa
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	$ 1,704		$ 1,704		$ 2,009
Iowa | F&G Segment
Statutory Accounting Practices [Line Items]
Statutory net income (loss)	(6)	$ 94	71	$ 54
New York
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	95		95		86
New York | F&G Segment
Statutory Accounting Practices [Line Items]
Statutory net income (loss)	1	(1)	7	4
Vermont | Raven Reinsurance Company
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	156		156		140
Vermont | Raven Reinsurance Company | F&G Segment
Statutory Accounting Practices [Line Items]
Statutory net income (loss)	13	14	41	42
Vermont | Corbeau Re
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	139		139		171
Vermont | Corbeau Re | F&G Segment
Statutory Accounting Practices [Line Items]
Statutory net income (loss)	5	0	(394)	0
Cayman Islands
Statutory Accounting Practices [Line Items]
Statutory net income (loss)	(11)	6	(27)	13
Statutory capital and surplus	625		625		543
Bermuda
Statutory Accounting Practices [Line Items]
Statutory net income (loss)	102	$ (80)	181	$ (6)
Statutory capital and surplus	$ 195		$ 195		$ 11

Insurance Subsidiary Financia_4

Insurance Subsidiary Financial Information and Regulatory Matters - Narrative (Details) $ in Millions	Sep. 30, 2024 USD ($) permitted_practice	Dec. 31, 2023 USD ($)
Insurance [Abstract]
Number of permitted practices | permitted_practice	2
Permitted practice, statutory surplus | $	$ 29	$ 102

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Millions				3 Months Ended	9 Months Ended
	Jul. 18, 2024	Jul. 17, 2024	Jan. 02, 2024	Sep. 30, 2024	Sep. 30, 2024
Roar
Business Acquisition [Line Items]
Ownership interests acquired			70%
Contingent consideration obligation, payments (up to)			$ 90
Contingent consideration liability payment period			3 years
Revenue of acquiree				$ 19	$ 60
Earnings (loss) of acquiree				2	6
PALH LLC
Business Acquisition [Line Items]
Revenue of acquiree				1	1
Earnings (loss) of acquiree				(4)	(4)
Ownership interest including subsequent acquisition, percentage	100%
Ownership interest prior to acquisition		30%
Acquisition date fair value of previously held interests	$ 92	$ 92
Realized gain				$ 2	$ 2
PALH LLC | PALH LLC
Business Acquisition [Line Items]
Ownership percentage of acquiree prior to acquisition		70%

Acquisitions - Initial Purchase

Acquisitions - Initial Purchase Price (Details) - USD ($) $ in Millions	Jul. 18, 2024	Jul. 17, 2024	Jan. 02, 2024	Sep. 30, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Initial fair value of contingent consideration				$ 69	$ 0
Roar
Business Acquisition [Line Items]
Ownership interests acquired			70%
Cash paid for 70% majority interest of Roar shares/Cash consideration			$ 269
Less: Cash acquired net of noncontrolling interests/ Less: Cash acquired			1
Net cash paid for 70% majority interest of Roar/Net cash paid			268
Initial fair value of contingent consideration			48
Total initial consideration			$ 316
PALH LLC
Business Acquisition [Line Items]
Cash paid for 70% majority interest of Roar shares/Cash consideration	$ 215
Less: Cash acquired net of noncontrolling interests/ Less: Cash acquired	1
Net cash paid for 70% majority interest of Roar/Net cash paid	214
Settlement of prepaid asset	8
Acquisition date fair value of previously held interests	92	$ 92
Total initial consideration	$ 314

Acquisitions - Fair Value Amoun

Acquisitions - Fair Value Amounts Expected to be Recognized for Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Sep. 30, 2024	Jul. 18, 2024	Jan. 02, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill	$ 2,179			$ 1,749
Roar
Business Acquisition [Line Items]
Goodwill			$ 268
Prepaid expenses and other assets			3
Other intangible assets			183
Total assets acquired			454
Accounts payable and accrued liabilities			2
Total liabilities assumed			2
Non-controlling interests (fair value determined using income approach)			136
Total liabilities assumed and non-controlling interests			138
Net assets acquired			$ 316
PALH LLC
Business Acquisition [Line Items]
Goodwill		$ 162
Prepaid expenses and other assets		5
Other intangible assets		149
Total assets acquired		316
Accounts payable and accrued liabilities		2
Total liabilities assumed		2
Net assets acquired		$ 314

Acquisitions - Gross Carrying V

Acquisitions - Gross Carrying Value and Weighted Average Estimated Useful Lives of Other Intangible Assets (Details) - USD ($) $ in Millions	Jul. 18, 2024	Jan. 02, 2024
Roar
Acquired Finite-Lived Intangible Assets [Line Items]
Other intangible assets, gross carrying value		$ 183
Roar | Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Other intangible assets, gross carrying value		$ 179
Estimated useful life (in years)		12 years
Roar | Definite lived trademarks, tradenames, and other
Acquired Finite-Lived Intangible Assets [Line Items]
Other intangible assets, gross carrying value		$ 4
Estimated useful life (in years)		10 years
PALH LLC
Acquired Finite-Lived Intangible Assets [Line Items]
Other intangible assets, gross carrying value	$ 149
PALH LLC | Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Other intangible assets, gross carrying value	$ 131
Estimated useful life (in years)	20 years
PALH LLC | Definite lived trademarks, tradenames, and other
Acquired Finite-Lived Intangible Assets [Line Items]
Other intangible assets, gross carrying value	$ 18
PALH LLC | Definite lived trademarks, tradenames, and other | Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life (in years)	5 years
PALH LLC | Definite lived trademarks, tradenames, and other | Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life (in years)	10 years

Acquisitions - Proforma Informa

Acquisitions - Proforma Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Roar
Business Acquisition [Line Items]
Total revenues	$ 866	$ 2,931
Net earnings (loss) attributable to F&G common shareholders	297	213
PALH LLC
Business Acquisition [Line Items]
Total revenues	852	2,891
Net earnings (loss) attributable to F&G common shareholders	$ 303	$ 232

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net earnings (loss)	$ (5)	$ 306	$ 315	$ 241
Less: Non-controlling interests	1	0	3	0
Net earnings (loss) attributable to F&G	(6)	306	312	241
Less: Preferred stock dividend	4	0	13	0
Net earnings (loss) attributable to F&G common shareholders	$ (10)	$ 306	$ 299	$ 241
Weighted-average common shares outstanding - basic (in shares)	124,000	124,000	124,000	124,000
Dilutive effect of mandatory convertible preferred stock (in shares)	0	0	6,000	0
Weighted average shares outstanding - diluted (in shares)	124,000	125,000	131,000	125,000
Net earnings (loss) per share attributable to F&G common shareholders
Basic - net (in usd per share)	$ (0.08)	$ 2.47	$ 2.41	$ 1.94
Diluted - net (in usd per share)	$ (0.08)	$ 2.45	$ 2.38	$ 1.93
Restricted Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dilutive effect of unvested restricted stock (in shares)	0	1,000	1,000	1,000

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2023 shares
Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	131,000
Convertible Preferred Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	6,000
Restricted Stock | Restricted Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,000