Aflac (AFL) 10-Q 1 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Jul. 24, 2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-07434
Entity Registrant Name	Aflac Incorporated
Entity Incorporation, State or Country Code	GA
Entity Tax Identification Number	58-1167100
Entity Address, Address Line One	1932 Wynnton Road
Entity Address, City or Town	Columbus,
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	31999
City Area Code	706.
Local Phone Number	323.3431
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		560,026,311
Amendment Flag	false
Entity Central Index Key	0000004977
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
NEW YORK STOCK EXCHANGE, INC.
Title of 12(b) Security	Common Stock, $.10 par value per share
Trading Symbol	AFL
Security Exchange Name	NYSE

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Net earned premiums, principally supplemental health insurance	[1]	$ 3,325	$ 3,573	$ 6,781	$ 7,262
Net investment income		1,095	999	2,095	1,942
Net investment gains (losses)		696	555	1,647	678
Other income (loss)		22	45	52	90
Total revenues		5,138	5,172	10,575	9,972
Benefits and expenses:
Benefits and claims, excluding reserve remeasurement		1,972	2,152	4,039	4,354
Reserve remeasurement (gains) losses		(51)	(54)	(107)	(107)
Total benefits and claims, net		1,921	2,098	3,932	4,247
Acquisition and operating expenses:
Amortization of deferred policy acquisition costs		208	202	424	407
Insurance commissions		246	268	501	547
Insurance and other expenses		694	728	1,431	1,505
Interest expense		50	51	97	99
Total acquisition and operating expenses		1,198	1,249	2,453	2,558
Total benefits and expenses		3,119	3,347	6,385	6,805
Earnings before income taxes		2,019	1,825	4,190	3,167
Income taxes		264	191	556	345
Net earnings		$ 1,755	$ 1,634	$ 3,634	$ 2,822
Net earnings per share:
Basic (in dollars per share)		$ 3.11	$ 2.72	$ 6.38	$ 4.66
Diluted (in dollars per share)		$ 3.10	$ 2.71	$ 6.35	$ 4.64
Weighted-average outstanding common shares used in computing earnings per share (In thousands):
Basic (in shares)		564,573	600,742	569,730	605,945
Diluted (in shares)		566,838	602,929	572,160	608,411
Cash dividends per share		$ 0.50	$ 0.42	$ 1	$ 0.84
[1] Includes a gain (loss) of $(2) and $(1) for the three-month periods and $(5) and $(1) for the six-month periods ended June 30, 2024 and 2023, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts.

Consolidated Statements of Ea_2

Consolidated Statements of Earnings (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Remeasurement gain (loss), deferred profit liability for limited-payment contracts	$ (2)	$ (1)	$ (5)	$ (1)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net earnings	$ 1,755	$ 1,634	$ 3,634	$ 2,822
Other comprehensive income (loss) before income taxes:
Unrealized foreign currency translation gains (losses) during period	(340)	(439)	(838)	(482)
Unrealized gains (losses) on fixed maturity securities:
Unrealized holding gains (losses) on fixed maturity securities during period	(829)	890	(727)	3,468
Reclassification adjustment for (gains) losses on fixed maturity securities included in net earnings	(50)	(27)	(218)	(84)
Unrealized gains (losses) on derivatives during period	6	1	0	2
Effect of changes in discount rate assumptions during period	3,698	(209)	5,044	(3,745)
Pension liability adjustment during period	2	58	4	67
Total other comprehensive income (loss) before income taxes	2,487	274	3,265	(774)
Income tax expense (benefit) related to items of other comprehensive income (loss)	677	334	1,037	135
Other comprehensive income (loss), net of income taxes	1,810	(60)	2,228	(909)
Total comprehensive income (loss)	$ 3,565	$ 1,574	$ 5,862	$ 1,913

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Jun. 30, 2024		Dec. 31, 2023
Investments and cash:
Fixed maturity securities, available-for-sale		$ 66,259		$ 73,290
Fixed maturity securities, held-to-maturity		15,685	[1]	17,819
Equity securities		728		1,088
Commercial mortgage and other loans		11,795		12,527
Other investments		7,102		4,530
Cash and cash equivalents		6,060		4,306
Total investments and cash		107,629		113,560
Receivables		880		848
Accrued investment income		726		731
Deferred policy acquisition costs		8,550		9,132
Property and equipment, at cost less accumulated depreciation		398		445
Other		1,985		2,008
Total assets		120,168		126,724
Policy liabilities:
Future policy benefits		70,339		83,718
Unpaid policy claims		359		261
Unearned premiums		1,216		1,451
Other policyholders’ funds		5,439		6,169
Total policy liabilities		77,353		91,599
Income taxes		752		154
Payables for return of cash collateral on loaned securities		4,493		1,503
Notes payable and lease obligations		7,430		7,364
Other		4,093		4,119
Total liabilities		94,121		104,739
Commitments and contingent liabilities (Note 13)
Shareholders’ equity:
Common stock of $.10 par value. In thousands: authorized 1,900,000 shares in 2024 and 2023; issued 1,356,618 shares in 2024 and 1,355,398 shares in 2023		136		136
Additional paid-in capital		2,835		2,771
Retained earnings		51,345		47,993
Accumulated other comprehensive income (loss):
Unrealized foreign currency translation gains (losses)		(5,091)		(4,069)
Unrealized gains (losses) on fixed maturity securities		401		1,139
Unrealized gains (losses) on derivatives		(22)		(22)
Effect of changes in discount rate assumptions		1,425		(2,560)
Pension liability adjustment		(5)		(8)
Treasury stock, at average cost		(24,977)		(23,395)
Total shareholders’ equity		26,047		21,985
Total liabilities and shareholders’ equity		120,168		126,724
Consolidated Entity Excluding Variable Interest Entities (VIE)
Investments and cash:
Fixed maturity securities, available-for-sale		62,582		69,578
Variable Interest Entity, Consolidated
Investments and cash:
Fixed maturity securities, available-for-sale		3,677		3,712
Commercial mortgage and other loans		9,454		10,150
Other investments	[2]	2,571		2,381
Total assets		15,760		16,298
Policy liabilities:
Total liabilities		$ 700		$ 507
[1]Net of allowance for credit losses[2]Consists entirely of alternative investments in limited partnerships

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Millions		Jun. 30, 2024	Dec. 31, 2023
Fixed maturity securities, available-for-sale, allowance for credit losses		$ 0	$ 0
Fixed maturity securities, available-for-sale, amortized cost		64,603	70,689
Fixed maturity securities, held-to-maturity, allowance for credit losses		5	5
Fixed maturity securities, held-to-maturity, fair value		16,570	19,657
Commercial mortgage and other loans, allowance for credit losses		238	274
Commercial mortgage and other loans		11,795	12,527
Other investments		$ 7,102	$ 4,530
Common stock, par value (in dollars per share)		$ 0.10	$ 0.10
Common stock, shares authorized (in shares)		1,900,000	1,900,000
Common stock, shares issued (in shares)		1,356,618	1,355,398
Consolidated Entity Excluding Variable Interest Entities (VIE)
Fixed maturity securities, available-for-sale, allowance for credit losses		$ 0	$ 0
Fixed maturity securities, available-for-sale, amortized cost		61,934	67,807
Variable Interest Entity, Consolidated
Fixed maturity securities, available-for-sale, amortized cost		2,669	2,882
Commercial mortgage and other loans		9,454	10,150
Other investments	[1]	$ 2,571	$ 2,381
[1]Consists entirely of alternative investments in limited partnerships

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions		Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Balance, beginning of period at Dec. 31, 2022		$ 20,140	$ 135	$ 2,641	$ 44,367	$ (6,429)	$ (20,574)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		1,188	0	0	1,188	0	0
Unrealized foreign currency translation gains (losses) during period, net of income taxes		(54)	0	0	0	(54)	0
Unrealized gains (losses) on fixed maturity securities during period, net of income taxes and reclassification adjustments		1,991	0	0	0	1,991	0
Unrealized gains (losses) on derivatives during period, net of income taxes		1	0	0	0	1	0
Effect of changes in discount rate assumptions during period, net of income taxes		(2,794)	0	0	0	(2,794)	0
Pension liability adjustment during period, net of income taxes		7	0	0	0	7	0
Dividends to shareholders	[1]	0	0	0	0	0	0
Exercise of stock options		3	0	3	0	0	0
Share-based compensation		14	0	14	0	0	0
Purchases of treasury stock		(732)	0	0	0	0	(732)
Treasury stock reissued		20	0	7	0	0	13
Balance, end of period at Mar. 31, 2023		19,784	135	2,665	45,555	(7,278)	(21,293)
Balance, beginning of period at Dec. 31, 2022		20,140	135	2,641	44,367	(6,429)	(20,574)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		2,822
Effect of changes in discount rate assumptions during period, net of income taxes						(3,000)
Balance, end of period at Jun. 30, 2023		20,439	136	2,697	46,937	(7,338)	(21,993)
Balance, beginning of period at Dec. 31, 2022		20,140	135	2,641	44,367	(6,429)	(20,574)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Effect of changes in discount rate assumptions during period, net of income taxes						(460)
Balance, end of period at Dec. 31, 2023		21,985	136	2,771	47,993	(5,520)	(23,395)
Balance, beginning of period at Mar. 31, 2023		19,784	135	2,665	45,555	(7,278)	(21,293)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		1,634	0	0	1,634	0	0
Unrealized foreign currency translation gains (losses) during period, net of income taxes		(631)	0	0	0	(631)	0
Unrealized gains (losses) on fixed maturity securities during period, net of income taxes and reclassification adjustments		689	0	0	0	689	0
Unrealized gains (losses) on derivatives during period, net of income taxes		1	0	0	0	1	0
Effect of changes in discount rate assumptions during period, net of income taxes		(165)	0	0	0	(165)	0
Pension liability adjustment during period, net of income taxes		46	0	0	0	46	0
Dividends to shareholders	[1]	(252)	0	0	(252)	0	0
Exercise of stock options		5	0	5	0	0	0
Share-based compensation		18	1	17	0	0	0
Purchases of treasury stock		(708)	0	0	0	0	(708)
Treasury stock reissued		18	0	10	0	0	8
Balance, end of period at Jun. 30, 2023		20,439	136	2,697	46,937	(7,338)	(21,993)
Balance, beginning of period at Dec. 31, 2023		21,985	136	2,771	47,993	(5,520)	(23,395)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		1,879	0	0	1,879	0	0
Unrealized foreign currency translation gains (losses) during period, net of income taxes		(597)	0	0	0	(597)	0
Unrealized gains (losses) on fixed maturity securities during period, net of income taxes and reclassification adjustments		(47)	0	0	0	(47)	0
Unrealized gains (losses) on derivatives during period, net of income taxes		(4)	0	0	0	(4)	0
Effect of changes in discount rate assumptions during period, net of income taxes		1,065	0	0	0	1,065	0
Pension liability adjustment during period, net of income taxes		1	0	0	0	1	0
Dividends to shareholders	[1]	0	0	0	0	0	0
Exercise of stock options		4	0	4	0	0	0
Share-based compensation		18	0	18	0	0	0
Purchases of treasury stock		(793)	0	0	0	0	(793)
Treasury stock reissued		26	0	13	0	0	13
Balance, end of period at Mar. 31, 2024		23,537	136	2,806	49,872	(5,102)	(24,175)
Balance, beginning of period at Dec. 31, 2023		21,985	136	2,771	47,993	(5,520)	(23,395)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		3,634
Effect of changes in discount rate assumptions during period, net of income taxes						4,000
Balance, end of period at Jun. 30, 2024		26,047	136	2,835	51,345	(3,292)	(24,977)
Balance, beginning of period at Mar. 31, 2024		23,537	136	2,806	49,872	(5,102)	(24,175)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		1,755	0	0	1,755	0	0
Unrealized foreign currency translation gains (losses) during period, net of income taxes		(425)	0	0	0	(425)	0
Unrealized gains (losses) on fixed maturity securities during period, net of income taxes and reclassification adjustments		(691)	0	0	0	(691)	0
Unrealized gains (losses) on derivatives during period, net of income taxes		4	0	0	0	4	0
Effect of changes in discount rate assumptions during period, net of income taxes		2,920	0	0	0	2,920	0
Pension liability adjustment during period, net of income taxes		2	0	0	0	2	0
Dividends to shareholders	[1]	(282)	0	0	(282)	0	0
Exercise of stock options		2	0	2	0	0	0
Share-based compensation		12	0	12	0	0	0
Purchases of treasury stock		(810)	0	0	0	0	(810)
Treasury stock reissued		23	0	15	0	0	8
Balance, end of period at Jun. 30, 2024		$ 26,047	$ 136	$ 2,835	$ 51,345	$ (3,292)	$ (24,977)
[1] Dividends to shareholders are recorded in the period in which they are declared.

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Retained Earnings
Dividends to shareholders (in dollars per share)	$ 0.50	$ 0	$ 0.42	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Cash flows from operating activities:
Net earnings	$ 1,755	$ 1,879	$ 1,634	$ 1,188	$ 3,634	$ 2,822
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities
Change in receivables and advance premiums					19	(35)
Capitalization of deferred policy acquisition costs					(508)	(525)
Amortization of deferred policy acquisition costs	208		202		424	407	$ 816
Increase in policy liabilities					(43)	(37)
Change in income tax liabilities					(221)	(420)
Net investment (gains) losses	(696)		(555)		(1,647)	(678)
Other, net					(554)	(202)
Net cash provided (used) by operating activities					1,104	1,332
Proceeds from investments sold or matured:
Available-for-sale fixed maturity securities					3,598	1,548
Equity securities					550	244
Held-to-maturity fixed maturity securities					1	2
Commercial mortgage and other loans					952	728
Costs of investments acquired:
Available-for-sale fixed maturity securities					(3,357)	(1,817)
Equity securities					(179)	(191)
Commercial mortgage and other loans					(512)	(588)
Other investments, net					(2,284)	(1,492)
Settlement of derivatives, net					(106)	(289)
Cash received (pledged or returned) as collateral, net					3,375	3,427
Other, net					256	(84)
Net cash provided (used) by investing activities					2,294	1,488
Cash flows from financing activities:
Purchases of treasury stock					(1,550)	(1,400)
Proceeds from borrowings					823	0
Principal payments under debt obligations					(194)	0
Dividends paid to shareholders					(550)	(491)
Change in investment-type contracts, net					(103)	(64)
Treasury stock reissued					12	5
Other, net					(14)	6
Net cash provided (used) by financing activities					(1,576)	(1,944)
Effect of exchange rate changes on cash and cash equivalents					(68)	(99)
Net change in cash and cash equivalents					1,754	777
Cash and cash equivalents, beginning of period		$ 4,306		$ 3,943	4,306	3,943	3,943
Cash and cash equivalents, end of period	$ 6,060		$ 4,720		6,060	4,720	$ 4,306
Supplemental disclosures of cash flow information:
Income taxes paid					777	765
Interest paid					87	94
Noncash interest					11	6
Noncash real estate acquired in satisfaction of debt					294	0
Noncash financing activities:
Lease obligations					20	43
Associate stock bonus
Treasury stock issued for:
Treasury stock issued					10	9
Shareholder dividend reinvestment
Treasury stock issued for:
Treasury stock issued					21	19
Share-based compensation grants
Treasury stock issued for:
Treasury stock issued					$ 6	$ 5

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business Aflac Incorporated (the Parent Company) and its subsidiaries (collectively, the Company) primarily sell supplemental health and life insurance in Japan and the United States (U.S.). The Company's insurance business is marketed and administered through Aflac Life Insurance Japan Ltd. (ALIJ) in Japan and through American Family Life Assurance Company of Columbus (Aflac), American Family Life Assurance Company of New York (Aflac New York), Continental American Insurance Company (CAIC), Tier One Insurance Company (TOIC) and Aflac Benefits Solutions, Inc. (ABS) in the U.S. The Company’s operations consist of two reportable business segments: Aflac Japan, which includes ALIJ, and Aflac U.S., which includes Aflac, Aflac New York, CAIC, TOIC and ABS. Aflac New York is a wholly owned subsidiary of Aflac. Most of the Aflac U.S. policies are individually underwritten and marketed through independent agents. With the exception of dental and vision products administered by ABS, and certain group life insurance products, Aflac U.S. markets and administers group products through CAIC, branded as Aflac Group Insurance. Additionally, Aflac U.S. markets its consumer markets products through TOIC. The Company's insurance operations in the U.S. and Japan service the two markets for the Company's insurance business. The Parent Company, other operating business units that are not individually reportable, reinsurance activities, including internal reinsurance activity with Aflac Re Bermuda Ltd. (Aflac Re), and other business activities not included in Aflac Japan or Aflac U.S., as well as intercompany eliminations, are included in Corporate and other. Basis of Presentation The Company prepares its financial statements in accordance with U.S. generally accepted accounting principles (U.S. GAAP). These principles are established primarily by the Financial Accounting Standards Board (FASB). In these Notes to the Consolidated Financial Statements, references to U.S. GAAP issued by the FASB are derived from the FASB Accounting Standards Codification TM (ASC). The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates based on currently available information when recording transactions resulting from business operations. The most significant items on the Company's balance sheet that involve a greater degree of accounting estimates and actuarial determinations subject to changes in the future are the valuation of investments and derivatives, deferred policy acquisition costs (DAC), liabilities for future policy benefits and income taxes. These accounting estimates and actuarial determinations are sensitive to market conditions, investment yields, interest rates, mortality, morbidity, commission and other acquisition expenses and terminations by policyholders. As additional information becomes available, or actual amounts are determinable, the recorded estimates are revised and reflected in the consolidated financial statements. Although some variability is inherent in these estimates, the Company believes the amounts provided are reasonable and reflective of the best estimates of management. The unaudited consolidated financial statements include the accounts of the Parent Company, its subsidiaries and those entities required to be consolidated under applicable accounting standards. All material intercompany accounts and transactions have been eliminated. In the opinion of management, the accompanying unaudited consolidated financial statements of the Company contain all adjustments, consisting of normal recurring accruals, which are necessary to fairly present the consolidated balance sheets as of June 30, 2024 and December 31, 2023, the consolidated statements of earnings and comprehensive income (loss) for the three- and six-month periods ended June 30, 2024 and 2023, the consolidated statements of shareholders' equity for the three-month periods ended March 31, 2024 and 2023 and June 30, 2024 and 2023, and the consolidated statements of cash flows for the six-month periods ended June 30, 2024 and 2023. Results of operations for interim periods are not necessarily indicative of results for the entire year. As a result, these financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's annual report on Form 10-K for the year ended December 31, 2023 (2023 Annual Report). Reclassifications : Certain reclassifications have been made to prior-year amounts to conform to current-year reporting classifications. These reclassifications had no impact on net earnings or total shareholders' equity. For the six-month period ended June 30, 2023, an immaterial reclassification was made to the consolidated statement of cash flows related to investments in limited partnerships resulting in an increase to net cash flows provided by operating activities of $245 million with a corresponding decrease to net cash flows provided by investing activities. New Accounting Pronouncements Accounting Pronouncements Pending Adoption Accounting Standards Update (ASU) 2023-09 Income Taxes (Topic 740) – Improvements to Income Tax Disclosures In December 2023, the FASB issued amendments that require enhanced income tax disclosures including (1) disclosure of specific categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. The amendments are effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The adoption of this guidance has no impact on the Company’s financial position or results of operations. The Company is evaluating the impact of adoption on its disclosures. ASU 2023-07 Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures In November 2023, the FASB issued amendments that will add certain segment disclosures related to significant segment expenses and require that a public entity disclose the title and position of the Chief Operating Decision Maker (CODM) and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The adoption of this guidance has no impact on the Company’s financial position or results of operations. The Company is evaluating the impact of adoption on its disclosures. Recent accounting guidance not discussed above is not applicable, did not have, or is not expected to have a material impact to the Company's business. For additional information on new accounting pronouncements and recent accounting guidance and their impact, if any, on the Company's financial position, results of operations or disclosures, see Note 1 of the Notes to the Consolidated Financial Statements in the 2023 Annual Report.

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION	3 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT INFORMATION The Company consists of two reportable insurance business segments: Aflac Japan and Aflac U.S., both of which sell supplemental health and life insurance. In addition, the Parent Company, other operating business units that are not individually reportable, reinsurance activities, including internal reinsurance activity with Aflac Re, and other business activities not included in Aflac Japan or Aflac U.S., as well as intercompany eliminations, are included in Corporate and other. The Company does not allocate corporate overhead expenses to business segments. Consistent with U.S. GAAP accounting guidance for segment reporting, the Company evaluates and manages its business segments using a financial performance measure called pretax adjusted earnings. • Pretax adjusted earnings are adjusted revenues less benefits and adjusted expenses. The adjustments to both revenues and expenses account for certain items that are outside management’s control because they tend to be driven by general economic conditions and events or are related to infrequent activities not directly associated with insurance operations. The Company excludes income taxes related to operations to arrive at pretax adjusted earnings. ◦ Adjusted revenues are U.S. GAAP total revenues excluding net investment gains and losses, except for amortized hedge costs/income related to foreign currency exposure management strategies and net interest income/expense from derivatives associated with certain investment strategies, which are reclassified from net investment gains (losses) and included in adjusted earnings as a component of adjusted net investment income when analyzing operations. ◦ Adjusted expenses are U.S. GAAP total acquisition and operating expenses including the impact of interest from derivatives associated with notes payable but excluding any non-recurring or other items not associated with the normal course of the Company’s insurance operations and that do not reflect the Company’s underlying business performance. Aflac Japan's adjusted revenues as a percentage of the Company's total adjusted revenues were 56% in the three- and six-month periods ended June 30, 2024 and 60% in the three- and six-month periods ended June 30, 2023. The percentage of the Company's total assets attributable to Aflac Japan was 77% at June 30, 2024, compared with 80% at December 31, 2023. Information regarding operations by reportable segment and Corporate and other follows: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2024 2023 2024 2023 Revenues: Aflac Japan: Net earned premiums (1) $ 1,715 $ 2,064 $ 3,531 $ 4,234 Adjusted net investment income 725 637 1,374 1,248 Other income 7 9 14 18 Total adjusted revenue Aflac Japan 2,447 2,710 4,919 5,500 Aflac U.S.: Net earned premiums 1,455 1,425 2,930 2,853 Adjusted net investment income 218 203 424 400 Other income 11 35 30 70 Total adjusted revenue Aflac U.S. 1,684 1,663 3,384 3,323 Corporate and other (2) 249 140 497 268 Total adjusted revenues 4,380 4,513 8,800 9,091 Net investment gains (losses) 696 555 1,647 678 Reconciling items: Amortized hedge costs 7 63 13 122 Amortized hedge income (34) (38) (62) (67) Net interest (income) expense from derivatives 89 79 177 148 Total revenues $ 5,138 $ 5,172 $ 10,575 $ 9,972 (1) Includes a gain (loss) of $(2) and $(1) for the three-month periods and $(5) and $(1) for the six-month periods ended June 30, 2024 and 2023, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts. (2) The change in value of federal historic rehabilitation and solar investments in partnerships of $30 and $53 for the three-month periods and $62 and $105 for the six-month periods ended June 30, 2024, and 2023, respectively, is included as a reduction to net investment income. Tax credits on these investments of $31 and $56 for the three-month periods and $64 and $108 for the six-month periods ended June 30, 2024, and 2023, respectively, have been recorded as an income tax benefit in the consolidated statements of earnings. See Note 3 for additional information on these investments. Three Months Ended June 30, Six Months Ended June 30, (In millions) 2024 2023 2024 2023 Pretax earnings: Aflac Japan (1) $ 864 $ 822 $ 1,674 $ 1,610 Aflac U.S. 383 369 739 721 Corporate and other (2) 23 (52) 21 (58) Pretax adjusted earnings 1,270 1,139 2,434 2,273 Other income (loss) 0 35 (2) 35 Net investment gains (losses) 696 555 1,647 678 Reconciling items: Amortized hedge costs 7 63 13 122 Amortized hedge income (34) (38) (62) (67) Net interest (income) expense from derivatives 89 79 177 148 Impact of interest from derivatives associated with notes payable (9) (8) (17) (22) Total earnings before income taxes $ 2,019 $ 1,825 $ 4,190 $ 3,167 Income taxes applicable to pretax adjusted earnings $ 235 $ 186 $ 438 $ 366 Effect of foreign currency translation on after-tax (37) (25) (81) (66) (1) Includes a gain (loss) of $(2) and $(1) for the three-month periods and $(5) and $(1) for the six-month periods ended June 30, 2024 and 2023, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts. (2) The change in value of federal historic rehabilitation and solar investments in partnerships of $30 and $53 for the three-month periods and $62 and $105 for the six-month periods ended June 30, 2024, and 2023, respectively, is included as a reduction to net investment income. Tax credits on these investments of $31 and $56 for the three-month periods and $64 and $108 for the six-month periods ended June 30, 2024, and 2023, respectively, have been recorded as an income tax benefit in the consolidated statements of earnings. See Note 3 for additional information on these investments. The Company's total assets were as follows: (In millions) June 30, December 31, Assets: Aflac Japan $ 92,708 $ 101,541 Aflac U.S. 21,755 21,861 Corporate and other 5,705 3,322 Total assets $ 120,168 $ 126,724

INVESTMENTS

INVESTMENTS	6 Months Ended
	Jun. 30, 2024
Investments [Abstract]
INVESTMENTS	INVESTMENTS Investment Holdings The amortized cost and allowance for credit losses for the Company's investments in fixed maturity securities and the fair values of these investments as well as the fair value of the Company's investments in equity securities are shown in the following tables. June 30, 2024 (In millions) Amortized Allowance Gross Gross Fair Securities available-for-sale, carried at fair Fixed maturity securities: Yen-denominated: Japan government and agencies $ 19,952 $ 0 $ 524 $ 2,376 $ 18,100 Municipalities 853 0 71 74 850 Mortgage- and asset-backed securities 345 0 4 22 327 Public utilities 2,821 0 220 94 2,947 Sovereign and supranational 326 0 17 7 336 Banks/financial institutions 5,258 0 294 332 5,220 Other corporate 5,189 0 611 287 5,513 Total yen-denominated 34,744 0 1,741 3,192 33,293 U.S. dollar-denominated: U.S. government and agencies 184 0 1 4 181 Municipalities 1,206 0 76 49 1,233 Mortgage- and asset-backed securities 3,064 0 356 44 3,376 Public utilities 3,603 0 426 150 3,879 Sovereign and supranational 93 0 34 3 124 Banks/financial institutions 3,090 0 439 50 3,479 Other corporate 18,619 0 2,898 823 20,694 Total U.S. dollar-denominated 29,859 0 4,230 1,123 32,966 Total securities available-for-sale $ 64,603 $ 0 $ 5,971 $ 4,315 $ 66,259 December 31, 2023 (In millions) Amortized Allowance for Credit Losses Gross Gross Fair Securities available-for-sale, carried at fair Fixed maturity securities: Yen-denominated: Japan government and agencies $ 23,067 $ 0 $ 1,040 $ 1,696 $ 22,411 Municipalities 968 0 115 58 1,025 Mortgage- and asset-backed securities 215 0 6 11 210 Public utilities 3,757 0 325 82 4,000 Sovereign and supranational 373 0 24 7 390 Banks/financial institutions 5,896 0 320 365 5,851 Other corporate 5,898 0 699 294 6,303 Total yen-denominated 40,174 0 2,529 2,513 40,190 U.S. dollar-denominated: U.S. government and agencies 191 0 2 4 189 Municipalities 1,246 0 65 38 1,273 Mortgage- and asset-backed securities 2,748 0 184 56 2,876 Public utilities 3,346 0 360 114 3,592 Sovereign and supranational 122 0 33 8 147 Banks/financial institutions 2,676 0 359 51 2,984 Other corporate 20,186 0 2,518 665 22,039 Total U.S. dollar-denominated 30,515 0 3,521 936 33,100 Total securities available-for-sale $ 70,689 $ 0 $ 6,050 $ 3,449 $ 73,290 June 30, 2024 (In millions) Amortized Allowance Net Carrying Amount Gross Gross Fair Securities held-to-maturity, carried at Fixed maturity securities: Yen-denominated: Japan government and agencies $ 15,040 $ 2 $ 15,038 $ 834 $ 5 $ 15,867 Municipalities 232 0 232 24 0 256 Public utilities 31 0 31 1 0 32 Sovereign and supranational 371 3 368 30 0 398 Other corporate 16 0 16 1 0 17 Total yen-denominated 15,690 5 15,685 890 5 16,570 Total securities held-to-maturity $ 15,690 $ 5 $ 15,685 $ 890 $ 5 $ 16,570 December 31, 2023 (In millions) Amortized Allowance for Credit Losses Net Carrying Amount Gross Gross Fair Securities held-to-maturity, carried at Fixed maturity securities: Yen-denominated: Japan government and agencies $ 17,085 $ 2 $ 17,083 $ 1,746 $ 0 $ 18,829 Municipalities 266 0 266 41 0 307 Public utilities 34 0 34 4 0 38 Sovereign and supranational 421 3 418 44 0 462 Other corporate 18 0 18 3 0 21 Total yen-denominated 17,824 5 17,819 1,838 0 19,657 Total securities held-to-maturity $ 17,824 $ 5 $ 17,819 $ 1,838 $ 0 $ 19,657 June 30, December 31, (In millions) Fair Value Fair Value Equity securities, carried at fair value through net earnings: Equity securities: Yen-denominated $ 482 $ 751 U.S. dollar-denominated 246 252 Other currencies 0 85 Total equity securities $ 728 $ 1,088 The methods of determining the fair values of the Company's investments in fixed maturity securities and equity securities are described in Note 5. During the first six months of 2024 and 2023, respectively, the Company did not reclassify any investments from the held-to-maturity category to the available-for-sale category. Contractual and Economic Maturities The contractual and economic maturities of the Company's investments in fixed maturity securities at June 30, 2024, were as follows: (In millions) Amortized (1) Fair Available-for-sale: Due in one year or less $ 1,214 $ 1,265 Due after one year through five years 6,729 7,665 Due after five years through 10 years 17,527 18,946 Due after 10 years 35,724 34,680 Mortgage- and asset-backed securities 3,409 3,703 Total fixed maturity securities available-for-sale $ 64,603 $ 66,259 Held-to-maturity: Due in one year or less $ 0 $ 0 Due after one year through five years 33 34 Due after five years through 10 years 8,366 8,956 Due after 10 years 7,286 7,580 Total fixed maturity securities held-to-maturity $ 15,685 $ 16,570 (1) Net of allowance for credit losses Economic maturities are used for certain debt instruments with no stated maturity where the expected maturity date is based on the combination of features in the financial instrument such as the right to call or prepay obligations or changes in coupon rates. Investment Concentrations The Company's process for investing in credit-related investments begins with an independent approach to underwriting each issuer's fundamental credit quality. The Company evaluates independently those factors that it believes could influence an issuer's ability to make payments under the contractual terms of the Company's instruments. This includes a thorough analysis of a variety of items including the issuer's country of domicile (including political, legal, and financial considerations); the industry in which the issuer competes (with an analysis of industry structure, end-market dynamics, and regulation); company specific issues (such as management, assets, earnings, cash generation, and capital needs); and contractual provisions of the instrument (such as financial covenants and position in the capital structure). The Company further evaluates the investment considering broad business and portfolio management objectives, including asset/liability needs, portfolio diversification, and expected income. Investment exposures that individually exceeded 10% of shareholders' equity were as follows: June 30, 2024 December 31, 2023 (In millions) Credit Amortized Fair Credit Amortized Fair Japan National Government (1) A+ $ 34,111 $ 33,114 A+ $ 39,151 $ 40,222 (1) Japan Government Bonds (JGBs) or JGB-backed securities Net Investment Gains and Losses Information regarding pretax net gains and losses from investments is as follows: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2024 2023 2024 2023 Net investment gains (losses): Sales and redemptions: Fixed maturity securities available-for-sale: Gross gains from sales $ 6 $ 7 $ 40 $ 8 Gross losses from sales (27) (6) (309) (9) Foreign currency gains (losses) 71 26 487 85 Other investments: Gross gains (losses) from sales and redemptions 5 (3) 10 (3) Total sales and redemptions 55 24 228 81 Equity securities 11 (9) 87 (12) Credit losses: Fixed maturity securities held-to-maturity 0 0 0 1 Commercial mortgage and other loans (21) (2) (28) (33) Impairment losses 0 0 0 0 Loan commitments 2 1 3 4 Reinsurance recoverables and other 0 0 5 (3) Total credit losses (19) (1) (20) (31) Derivatives and other: Derivative gains (losses) (275) (594) (490) (577) Foreign currency gains (losses) 924 1,135 1,842 1,217 Total derivatives and other 649 541 1,352 640 Total net investment gains (losses) $ 696 $ 555 $ 1,647 $ 678 The unrealized holding gains, net of losses, recorded as a component of net investment gains and losses for the three-month period ended June 30, 2024 that relate to equity securities held at the June 30, 2024 reporting date were $15 million. The unrealized holding losses, net of gains, recorded as a component of net investment gains and losses for the three-month period ended June 30, 2023 that relate to equity securities held at the June 30, 2023 reporting date were $16 million. The unrealized holding gains, net of losses, recorded as a component of net investment gains and losses for the six-month period ended June 30, 2024 that relate to equity securities held at the June 30, 2024 reporting date were $70 million. The unrealized holding losses, net of gains, recorded as a component of net investment gains and losses for the six-month period ended June 30, 2023 that relate to equity securities held at the June 30, 2023 reporting date were $21 million. Unrealized Investment Gains and Losses Effect on Shareholders’ Equity The net effect on shareholders’ equity of unrealized gains and losses from fixed maturity securities was as follows: (In millions) June 30, December 31, Unrealized gains (losses) on securities available-for-sale $ 1,656 $ 2,601 Deferred income taxes (1,255) (1,462) Shareholders’ equity, unrealized gains (losses) on fixed maturity securities $ 401 $ 1,139 Gross Unrealized Loss Aging The following tables show the fair values and gross unrealized losses of the Company's available-for-sale investments for the periods ended June 30, 2024 and December 31, 2023, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position. June 30, 2024 Total Less than 12 months 12 months or longer (In millions) Fair Unrealized Fair Unrealized Fair Unrealized Fixed maturity securities available- U.S. government and U.S. dollar-denominated $ 114 $ 4 $ 38 $ 1 $ 76 $ 3 Japan government and Yen-denominated 8,156 2,376 2,577 574 5,579 1,802 Municipalities: U.S. dollar-denominated 670 49 29 1 641 48 Yen-denominated 339 74 123 4 216 70 Mortgage- and asset- U.S. dollar-denominated 684 44 167 1 517 43 Yen-denominated 223 22 41 0 182 22 Public utilities: U.S. dollar-denominated 1,438 150 445 15 993 135 Yen-denominated 951 94 492 18 459 76 Sovereign and supranational: U.S. dollar-denominated 14 3 0 0 14 3 Yen-denominated 25 7 0 1 25 6 Banks/financial institutions: U.S. dollar-denominated 753 50 345 8 408 42 Yen-denominated 3,132 332 450 23 2,682 309 Other corporate: U.S. dollar-denominated 6,336 823 1,473 43 4,863 780 Yen-denominated 1,719 287 429 19 1,290 268 Total $ 24,554 $ 4,315 $ 6,609 $ 708 $ 17,945 $ 3,607 December 31, 2023 Total Less than 12 months 12 months or longer (In millions) Fair Unrealized Fair Unrealized Fair Unrealized Fixed maturity securities available- U.S. government and U.S. dollar-denominated $ 123 $ 4 $ 53 $ 1 $ 70 $ 3 Japan government and Yen-denominated 8,393 1,696 1,657 303 6,736 1,393 Municipalities: U.S. dollar-denominated 703 38 31 1 672 37 Yen-denominated 301 58 34 0 267 58 Mortgage- and asset- U.S. dollar-denominated 925 56 340 6 585 50 Yen-denominated 58 11 0 0 58 11 Public utilities: U.S. dollar-denominated 1,120 114 228 4 892 110 Yen-denominated 1,028 82 444 13 584 69 Sovereign and supranational: U.S. dollar-denominated 35 8 0 0 35 8 Yen-denominated 60 7 0 0 60 7 Banks/financial institutions: U.S. dollar-denominated 655 51 159 4 496 47 Yen-denominated 3,673 365 186 4 3,487 361 Other corporate: U.S. dollar-denominated 6,380 665 799 19 5,581 646 Yen-denominated 1,948 294 308 9 1,640 285 Total $ 25,402 $ 3,449 $ 4,239 $ 364 $ 21,163 $ 3,085 Analysis of Securities in Unrealized Loss Positions The unrealized losses on the Company's available-for-sale securities have been primarily related to general market changes in interest rates, foreign exchange rates, and/or the levels of credit spreads rather than specific concerns with the issuer's ability to pay interest and repay principal. For any available-for-sale securities with significant declines in fair value, the Company performs detailed analyses to identify whether the drivers of the declines are due to general market drivers, such as the recent rise in interest rates, or due to credit-related factors. Identifying the drivers of the declines in fair value helps to align and allocate the Company‘s resources to securities with real credit-related concerns that could impact ultimate collection of principal and interest. For any significant declines in fair value determined to be non-interest rate or market related, the Company performs a more focused review of the related issuers' specific credit profile. For corporate issuers, the Company evaluates their assets, business profile including industry dynamics and competitive positioning, financial statements and other available financial data. For non-corporate issuers, the Company analyzes all sources of credit support, including issuer-specific factors. The Company utilizes information available in the public domain and, for certain private placement issuers, from consultations with the issuers directly. The Company also considers ratings from Nationally Recognized Statistical Rating Organizations (NRSROs), as well as the specific characteristics of the security it owns including seniority in the issuer's capital structure, covenant protections, or other relevant features. From these reviews, the Company evaluates the issuers' continued ability to service the Company's investment through payment of interest and principal. Assuming no credit-related factors develop, unrealized gains and losses on available-for-sale securities are expected to diminish as investments near maturity. Based on its credit analysis, the Company believes that the issuers of its available-for-sale investments in the sectors shown in the table above have the ability to service their obligations to the Company. Further, the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be at maturity. However, from time to time the Company identifies certain available-for-sale securities where the amortized cost basis exceeds the present value of the cash flows expected to be collected due to credit-related factors and as a result, a credit loss allowance will be estimated. Based on an evaluation of its securities currently in an unrealized loss position, the Company has determined that those securities should not have a credit loss allowance as of June 30, 2024 . Refer to the Allowance for Credit Losses section below for additional information. As of June 30, 2024 and December 31, 2023, the Company had an immaterial amount of fixed maturity securities on nonaccrual status. Commercial Mortgage and Other Loans The Company classifies its transitional real estate loans (TREs), commercial mortgage loans (CMLs), middle market loans (MMLs), and other loans as held-for-investment and includes them in the commercial mortgage and other loans line on the consolidated balance sheets. The Company carries them on the balance sheet at amortized cost less an estimated allowance for credit losses. The following table reflects the composition of the carrying value for commercial mortgage and other loans by property type as of the periods presented. (In millions) June 30, 2024 December 31, 2023 Amortized % of Amortized % of Commercial Mortgage and other loans: Transitional real estate loans: Office $ 1,635 13.6 % $ 1,807 14.1 % Retail 337 2.8 473 3.7 Apartments/Multi-Family 2,438 20.3 2,608 20.4 Industrial 115 1.0 157 1.2 Hospitality 712 5.9 814 6.4 Other 432 3.6 255 2.0 Total transitional real estate loans 5,669 47.2 6,114 47.8 Commercial mortgage loans: Office 354 2.9 359 2.8 Retail 218 1.8 301 2.4 Apartments/Multi-Family 579 4.8 586 4.6 Industrial 442 3.7 463 3.6 Other 15 .1 0 0.0 Total commercial mortgage loans 1,608 13.3 1,709 13.4 Middle market loans 4,489 37.3 4,677 36.5 Other loans 267 2.2 301 2.3 Total commercial mortgage and other loans $ 12,033 100.0 % $ 12,801 100.0 % Allowance for credit losses (238) (274) Total net commercial mortgage and other loans $ 11,795 $ 12,527 CMLs and TREs were secured by properties entirely within the U.S. (with the largest concentrations in California (21%), Texas (13%) and Florida (9%)). MMLs are issued only to companies domiciled within the U.S. and Canada. Transitional Real Estate Loans TREs are commercial mortgage loans that are typically relatively short-term floating rate instruments secured by a first lien on the property. These loans provide funding for properties undergoing a change in their physical characteristics and/or economic profile and do not typically require any principal repayment prior to the maturity date. As of June 30, 2024, the Company had $400 million in outstanding commitments to fund TREs. These commitments are contingent on the final underwriting and due diligence to be performed. Commercial Mortgage Loans CMLs are typically fixed rate loans on commercial real estate with partial repayment of principal over the life of the loan with the remaining outstanding principal being repaid upon maturity. This loan portfolio is generally considered higher quality investment grade loans. Middle Market Loans MMLs are typically first lien senior secured cash flow loans to small to mid-size companies for working capital, refinancing, acquisition, and recapitalization. These loans are generally considered to be below investment grade. The carrying value for MMLs included $25 million and $24 million for a short-term credit facility that is reflected in other liabilities on the consolidated balance sheets, as of June 30, 2024 and December 31, 2023, respectively. As of June 30, 2024, the Company had commitments of approximately $741 million to fund future MMLs. These commitments are contingent upon the availability of MMLs that meet the Company's underwriting criteria. Other Loans Other loans are primarily infrastructure loans. Infrastructure loans are typically senior secured, financing operating portfolios of contracted solar and wind assets generating cash flow for loan repayment. The infrastructure loan portfolio weighted average rating is investment grade. As of June 30, 2024, the Company had commitments of approximately $5 million to fund future other loans. These commitments are contingent upon the availability of other loans that meet the Company's underwriting criteria. Credit Quality Indicators For TREs, the Company’s key credit quality indicators include performance of the loan and loan-to-value (LTV), which is calculated by dividing the current outstanding loan balance by the estimated property value, primarily using values at origination. Given that TREs involve properties undergoing a repositioning of their commercial profile, LTV provides the most insight into the credit risk of the loan. The Company monitors the performance of the loans periodically, but not less frequently than quarterly. The monitoring process also focuses on higher risk loans, which include those that are delinquent or for which foreclosure or deed in lieu of foreclosure is anticipated. For CMLs, the Company’s key credit quality indicators include LTV and debt service coverage ratios (DSCR). DSCR is the most recently available net operating income of the underlying property compared to the required debt service of the loan. For MMLs and held-to-maturity fixed maturity securities, the Company’s key credit quality indicator is credit ratings. The Company’s held-to-maturity portfolio is composed of investment grade securities that are senior unsecured instruments, while its MMLs generally have below-investment-grade ratings but are typically senior secured instruments. The Company monitors the credit ratings periodically, but not less frequently than quarterly. For other loans, the Company's key credit quality indicator is credit ratings. The Company monitors these credit ratings periodically, but not less frequently than quarterly. The following tables present as of June 30, 2024 the amortized cost basis of TREs, CMLs, MMLs, and other loans by year of origination and credit quality indicator. Transitional Real Estate Loans (In millions) 2024 2023 2022 2021 2020 Prior Total Loan-to-Value Ratio: 0%-59.99% $ 0 $ 0 $ 615 $ 513 $ 36 $ 143 $ 1,307 60%-69.99% 0 114 394 673 18 605 1,804 70%-79.99% 0 14 814 812 83 173 1,896 80% or greater 0 0 219 214 80 149 662 Total $ 0 $ 128 $ 2,042 $ 2,212 $ 217 $ 1,070 $ 5,669 Current-period gross $ 0 $ 0 $ 0 $ 5 $ 0 $ 10 $ 15 Commercial Mortgage Loans (In millions) 2024 2023 2022 2021 2020 Prior Total Weighted-Average DSCR Loan-to-Value Ratio: 0%-59.99% $ 0 $ 33 $ 0 $ 294 $ 58 $ 952 $ 1,337 2.64 60%-69.99% 13 0 0 0 0 39 52 1.31 70%-79.99% 0 0 0 0 0 86 86 1.26 80% or greater 0 0 0 0 0 133 133 0.51 Total $ 13 $ 33 $ 0 $ 294 $ 58 $ 1,210 $ 1,608 2.34 Weighted Average DSCR 1.21 2.58 0.00 2.93 2.61 2.20 Current-period gross $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Middle Market Loans (In millions) 2024 2023 2022 2021 2020 Prior Revolving Loans Total Credit Ratings: BBB $ 10 $ 15 $ 62 $ 103 $ 94 $ 93 $ 16 $ 393 BB 85 41 367 415 280 499 81 1,768 B 111 45 246 563 249 620 42 1,876 CCC 0 0 22 78 90 140 16 346 CC 0 0 0 0 0 8 0 8 C and lower 0 0 0 6 0 90 2 98 Total $ 206 $ 101 $ 697 $ 1,165 $ 713 $ 1,450 $ 157 $ 4,489 Current-period gross $ 0 $ 0 $ 0 $ 27 $ 0 $ 23 $ 0 $ 50 Other Loans (In millions) 2024 2023 2022 2021 2020 Prior Revolving Loans Total Credit Ratings: A $ 0 $ 22 $ 76 $ 0 $ 0 $ 0 $ 0 $ 98 AA 0 0 22 3 0 0 0 25 BBB 5 64 0 0 0 0 0 69 BB 0 0 75 0 0 0 0 75 Total $ 5 $ 86 $ 173 $ 3 $ 0 $ 0 $ 0 $ 267 Current-period gross writeoffs: $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Loan Modifications to Borrowers Experiencing Financial Difficulties The Company granted certain loan modifications to borrowers experiencing financial difficulty during the first six months of 2024 and 2023. The amount, timing, and extent of modifications granted are considered in determining any credit loss allowance recorded. Of these loans, 2% of TREs with an amortized cost of $121 million and 6% of TREs with an amortized cost of $332 million were modified in the form of interest rate reductions and other-than-insignificant payment delays during the three- and six-month periods ended June 30, 2024, respectively. The modifications resulted in a reduction in the weighted-average contractual interest rate from 8.1% to 7.8% for the three-month period and 8.2% to 7.3% for the six-month period ended June 30, 2024, respectively. Additionally, an immaterial percentage of MMLs were modified in the form of principal forgiveness during each of the three- and six-month periods ended June 30, 2024. The modifications resulted in forgiveness of principal of $15 million, resulting in a remaining amortized cost of $2 million as of June 30, 2024. Loan modifications for the three- and six-month periods ended June 30, 2023 were immaterial. Past Due and Nonaccrual Loans The following tables present an aging of past due and nonaccrual loans at amortized cost, before allowance for credit losses, as of the periods presented. June 30, 2024 (In millions) Current Less Than 90 Days or More Past Due (1) Total Past Total Nonaccrual Transitional real estate loans $ 4,934 $ 217 $ 518 $ 735 $ 5,669 $ 475 Commercial mortgage loans 1,587 0 21 21 1,608 21 Middle market loans 4,384 62 43 105 4,489 43 Other loans 247 0 20 20 267 0 Total $ 11,152 $ 279 $ 602 $ 881 $ 12,033 $ 539 (1) As of June 30, 2024, there were $106 of loans that were 90 days or more past due that continued to accrue interest. December 31, 2023 (In millions) Current Less Than 90 Days or More Past Due (1) Total Past Total Nonaccrual Transitional real estate loans $ 5,481 $ 108 $ 525 $ 633 $ 6,114 $ 633 Commercial mortgage loans 1,676 33 0 33 1,709 0 Middle market loans 4,592 0 85 85 4,677 85 Other loans 301 0 0 0 301 0 Total $ 12,050 $ 141 $ 610 $ 751 $ 12,801 $ 718 (1) As of December 31, 2023, there were no loans that were 90 days or more past due that continued to accrue interest. For the three- and six-month periods ended June 30, 2024 and June 30, 2023, the Company recognized no interest income for TREs, CMLs, MMLs, or other loans on nonaccrual status. Of these loans, TREs with an amortized cost of $68 million and $160 million had no credit loss allowance as of June 30, 2024 and December 31, 2023, respectively, because these loans are collateral dependent assets for which the estimated fair values of the collateral were in excess of amortized cost. As of June 30, 2024, MMLs with an amortized cost of $4 million were on nonaccrual status without an allowance for credit losses. As of December 31, 2023, there were no MMLs on nonaccrual status without an allowance for credit losses. Allowance for Credit Losses The Company calculates its allowance for credit losses for held-to-maturity securities, loan receivables, loan commitments and reinsurance recoverable by grouping assets with similar risk characteristics when there is not a specific expectation of a loss for an individual asset. For held-to-maturity securities, MMLs, and MML commitments, the Company groups assets by credit ratings, industry, and country. The Company groups CMLs and TREs and respective loan commitments by property type, property location and the property’s LTV and DSCR. On a quarterly basis, CMLs and TREs within a portfolio segment that share similar risk characteristics are pooled for calculation of credit loss allowance. On an ongoing basis, TREs, CMLs and other loans with dissimilar risk characteristics (i.e., loans with significant declines in credit quality), such as collateral dependent mortgage loans (i.e., when the borrower is experiencing financial difficulty, including when foreclosure is probable), are evaluated individually for credit loss. For example, the credit loss allowance for a collateral dependent loan is established as the excess of amortized cost over the estimated fair value of the loan’s underlying collateral, less selling cost when foreclosure is probable. Accordingly, the change in the estimated fair value of the collateral dependent loans, which are evaluated individually for credit loss, is recorded as a change in the credit loss allowance as a component of net investment gains (losses) in the consolidated statements of earnings. The credit allowance for held-to-maturity fixed maturity securities and loan receivables is estimated using a probability-of-default (PD) / loss-given-default (LGD) method, discounted for the time value of money. For held-to-maturity fixed maturity securities, available-for-sale fixed maturity securities and loan receivables, the Company includes the change in present value due to the passage of time in the change in the allowance for credit losses. The Company’s methodology for estimating credit losses utilizes the contractual maturity date of the financial asset, adjusted when necessary to reflect the expected timing of repayment (such as prepayment options, renewal options, call options, or extension options). The Company applies reasonable and supportable forecasts of macroeconomic variables that impact the determination of PD / LGD over a two-year period for held-to-maturity fixed maturity securities and MMLs. The Company reverts to historical loss information over one year, following the two-year forecast period. For the CML and TRE portfolio, the Company applies reasonable and supportable forecasts of macroeconomic variables as well as national and local real-estate market factors to estimate future credit losses where the market factors revert back to historical levels over time with the period being dependent on current market conditions, projected market conditions and difference in the current and historical market levels for each factor. The Company continuously monitors the estimation methodology, due to changes in portfolio composition, changes in underwriting practices and significant events or conditions and makes adjustments as necessary. The Company’s held-to-maturity portfolio includes Japan Government and Agency securities of $14.9 billion amortized cost as of June 30, 2024 that meet the requirements for zero-credit-loss expectation and therefore these asset classes have been excluded from the current expected credit loss measurement. An investment in an available-for-sale security may be impaired if the fair value falls below amortized cost. The Company regularly reviews its available-for-sale portfolio for declines in fair value. The Company's available-for-sale impairment model focuses on the ultimate collection of the cash flows from its investments and whether the Company has the intent to sell or if it is more likely than not the Company would be required to sell the security prior to recovery of its amortized cost. The determination of the amount of impairments under this model is based upon the Company's periodic evaluation and assessment of known and inherent risks associated with the respective securities. Such evaluations and assessments are revised as conditions change and new information becomes available. When determining the Company's intention to sell a security prior to recovery of its fair value to amortized cost, the Company evaluates facts and circumstances such as, but not limited to, future cash flow needs, decisions to reposition its security portfolio, and risk profile of individual investment holdings. The Company performs ongoing analyses of its liquidity needs, which includes cash flow testing of its policy liabilities, debt maturities, projected dividend payments, and other cash flow and liquidity needs. The Company’s methodology for estimating credit losses for available-for-sale securities utilizes the discounted cash flow model, based on past events, current market conditions and future economic conditions, as well as industry analysis and credit ratings of the securities. In addition, the Company evaluates the specific issuer’s probability of default and expected recovery of its position in the event of default based on the underlying financial condition and assets of the borrower as well as seniority and/or security of other debt holders in the issuer when developing management’s best estimate of expected cash flows. The following table presents the roll forward of the allowance for credit losses by portfolio segment for loans and by accounting classification for securities. (In millions) Transitional Commercial Middle Market Other Loans Held-to- Available- Total Three Months Ended June 30, 2024: Balance at March 31, 2024 $ (114) $ (19) $ (99) $ (15) $ (5) $ 0 $ (252) (Addition to) release of allowance for credit losses (24) 2 1 2 0 0 (19) Writeoffs, net of recoveries 15 0 0 0 0 0 15 Change in foreign exchange 0 0 0 0 0 0 0 Balance at June 30, 2024 $ (123) $ (17) $ (98) $ (13) $ (5) $ 0 $ (256) Three Months Ended June 30, 2023: Balance at March 31, 2023 $ (65) $ (9) $ (149) $ (21) $ (6) $ 0 $ (250) (Addition to) release of allowance for credit losses (11) 0 9 1 0 0 (1) Writeoffs, net of recoveries 0 0 0 0 0 0 0 Change in foreign exchange 0 0 0 0 1 0 1 Balance at June 30, 2023 $ (76) $ (9) $ (140) $ (20) $ (5) $ 0 $ (250) Six Months Ended June 30, 2024: Balance at December 31, 2023 $ (112) $ (16) $ (146) $ (16) $ (5) $ 0 $ (295) (Addition to) release of allowance for credit losses (26) (1) (2) 3 0 0 (26) Writeoffs, net of recoveries 15 0 50 0 0 0 65 Change in foreign exchange 0 0 0 0 0 0 0 Balance at June 30, 2024 $ (123) $ (17) $ (98) $ (13) $ (5) $ 0 $ (256) Six Months Ended June 30, 2023: Balance at December 31, 2022 $ (54) $ (9) $ (129) $ (24) $ (7) $ 0 $ (223) (Addition to) release of allowance for credit losses (22) 0 (11) 4 1 0 (28) Writeoffs, net of recoveries 0 0 0 0 0 0 0 Change in foreign exchange 0 0 0 0 1 0 1 Balance at June 30, 2023 $ (76) $ (9) $ (140) $ (20) $ (5) $ 0 $ (250) As of June 30, 2024, the Company identified additional TREs with an amortized cost of $267 million in anticipation of potential foreclosure or deed in lieu of foreclosure transactions. As of June 30, 2024, the Company established a credit allowance of $33 million for $656 million of loans for which the fair value of the collateral was below the amortized cost of the loans. Other Investments The table below reflects the composition of the carrying value for other investments as of the periods presented. (In millions) June 30, December 31, 2023 Other investments: Policy loans $ 195 $ 214 Short-term investments (1) 3,380 1,304 Limited partnerships (2) 2,983 2,750 Real estate owned 497 227 Other 47 35 Total other investments $ 7,102 $ 4,530 (1) Includes securities lending collateral (2) Includes tax credit investments and asset classes such as private equity and real estate funds The Parent Company invests in partnerships that specialize in rehabilitating historic structures or the installation of solar equipment in order to receive federal historic rehabilitation and solar tax credits. These investments are classified as limited partnerships and included in other investments in the consolidated balance sheets. The change in value of each investment is recorded as a reduction

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS The Company's freestanding derivative financial instruments include: • foreign currency forwards and options used in hedging foreign exchange risk on U.S. dollar-denominated investments in Aflac Japan's portfolio, with options used on a standalone basis and/or in a collar strategy; • foreign currency forwards and options used to economically hedge certain portions of forecasted cash flows denominated in yen and hedge the Company's long term exposure to a weakening yen; • cross-currency interest rate swaps, also referred to as foreign currency swaps, associated with certain senior notes and subordinated debentures; • foreign currency swaps that are associated with variable interest entity (VIE) bond purchase commitments, and investments in special-purpose entities, including VIEs where the Company is the primary beneficiary; • interest rate swaps used to economically hedge interest rate fluctuations in certain variable-rate investments; • interest rate swaptions used to hedge changes in the fair value associated with interest rate fluctuations for certain U.S. dollar-denominated available-for-sale fixed-maturity securities; and • bond purchase commitments at the inception of investments in consolidated VIEs. Some of the Company's derivatives are designated as cash flow hedges, fair value hedges or net investment hedges; however, other derivatives do not qualify for hedge accounting or the Company elects not to designate them as accounting hedges. Derivative Types Foreign currency forwards and options are executed for the Aflac Japan segment in order to hedge the currency risk on the carrying value of certain U.S. dollar-denominated investments. The average maturity of these forwards and options can change depending on factors such as market conditions and types of investments being held. In situations where the maturity of the forwards and options is shorter than the underlying investment being hedged, the Company may enter into new forwards and options near maturity of the existing derivative in order to continue hedging the underlying investment. In forward transactions, Aflac Japan agrees with another party to buy a fixed amount of yen and sell a corresponding amount of U.S. dollars at a specified future date. The Company also uses one-sided foreign currency put options to mitigate the settlement risk on U.S. dollar-denominated assets related to extreme foreign currency rate changes. From time to time, Aflac Japan also executes foreign currency option transactions in a collar strategy, where Aflac Japan agrees with another party to simultaneously purchase put options and sell call options. In the purchased put transactions, Aflac Japan obtains the option to buy a fixed amount of yen and sell a corresponding amount of U.S. dollars at a specified future date. In the sold call transactions, Aflac Japan agrees to sell a fixed amount of yen and buy a corresponding amount of U.S. dollars at a specified future date. The combination of purchasing the put option and selling the call option results in no net premium being paid (i.e. a costless or zero-cost collar). From time to time, the Company may also enter into foreign currency forwards and options to hedge the currency risk associated with the net investment in Aflac Japan. In these forward transactions, the Company agrees with another party to buy a fixed amount of U.S. dollars and sell a corresponding amount of yen at a specified price at a specified future date. In the option transactions, the Company may use a combination of foreign currency options to protect expected future cash flows by simultaneously purchasing yen put options (options that protect against a weakening yen) and selling yen call options (options that limit participation in a strengthening yen). The combination of these two actions create a zero-cost collar. Additionally, the Company enters into purchased options to hedge cash flows from the net investment in Aflac Japan. The Company enters into foreign currency swaps pursuant to which it exchanges an initial principal amount in one currency for an initial principal amount of another currency, with an agreement to re-exchange the principal amounts at a future date. There may also be periodic exchanges of payments at specified intervals based on the agreed upon rates and notional amounts. Foreign currency swaps are used primarily in the consolidated VIEs in the Company's Aflac Japan portfolio to convert foreign-denominated cash flows to yen, the functional currency of Aflac Japan, in order to minimize cash flow fluctuations. The Company also uses foreign currency swaps to economically convert certain of its U.S. dollar-denominated senior note and subordinated debenture principal and interest obligations into yen-denominated obligations. In order to reduce investment income volatility from its variable-rate investments, the Company enters into receive–fixed, pay–floating interest rate swaps. These derivatives are cleared and settled through a central clearinghouse. Swaptions are used to mitigate the adverse impact resulting from significant changes in the fair value of U.S. dollar-denominated available-for-sale securities due to fluctuation in interest rates. In a payer swaption, the Company pays a premium to obtain the right, but not the obligation, to enter into a swap contract where it will pay a fixed rate and receive a floating rate. Interest rate swaption collars are combinations of two swaption positions. In order to maximize the efficiency of the collars while minimizing cost, a collar strategy is used whereby the Company purchases a long payer swaption (the Company purchases an option that allows it to enter into a swap where the Company will pay the fixed rate and receive the floating rate of the swap) and sells a short receiver swaption (the Company sells an option that provides the counterparty with the right to enter into a swap where the Company will receive the fixed rate and pay the floating rate of the swap). The combination of purchasing the long payer swaption and selling the short receiver swaption results in no net premium being paid (i.e. a costless or zero-cost collar). Bond purchase commitments result from repackaged bond structures that are consolidated VIEs whereby there is a delay in the trade date and settlement date of the bond within the structure to ensure completion of all necessary legal agreements to support the consolidated VIE that issues the repackaged bond. Since the Company has a commitment to purchase the underlying bond at a specified price, the agreement meets the definition of a derivative where the value is derived based on the current market value of the bond compared to the fixed purchase price to be paid on the settlement date. Derivative Balance Sheet Classification The table below summarizes the balance sheet classification of the Company's derivative fair value amounts, as well as the gross asset and liability fair value amounts. The fair value amounts presented do not include income accruals. Derivative assets are included in other assets, while derivative liabilities are included in other liabilities within the Company’s consolidated balance sheets. The notional amount of derivative contracts represents the basis upon which pay or receive amounts are calculated and are not reflective of exposure or credit risk. June 30, 2024 December 31, 2023 (In millions) Asset Liability Asset Liability Hedge Designation/ Derivative Notional Fair Value Fair Value Notional Fair Value Fair Value Cash flow hedges: Foreign currency swaps - VIE $ 18 $ 0 $ 6 $ 18 $ 0 $ 4 Total cash flow hedges 18 0 6 18 0 4 Fair value hedges: Foreign currency options 0 0 0 2,158 0 0 Total fair value hedges 0 0 0 2,158 0 0 Net investment hedge: Foreign currency forwards 1,972 235 0 2,611 179 27 Foreign currency options 0 0 0 456 0 0 Total net investment hedge 1,972 235 0 3,067 179 27 Non-qualifying strategies: Foreign currency swaps 1,200 16 0 1,200 31 0 Foreign currency swaps - VIE 3,416 58 694 3,417 55 503 Foreign currency forwards 0 0 0 7,402 59 477 Foreign currency options 26,715 7 173 22,557 2 0 Interest rate swaps 17,230 0 451 17,230 11 419 Total non-qualifying strategies 48,561 81 1,318 51,806 158 1,399 Total derivatives $ 50,551 $ 316 $ 1,324 $ 57,049 $ 337 $ 1,430 Cash Flow Hedges For certain variable-rate U.S. dollar-denominated available-for-sale securities held by Aflac Japan via consolidated VIEs, foreign currency swaps are used to swap the U.S. Dollar (USD) variable rate interest and principal payments to fixed rate Japanese Yen (JPY) interest and principal payments. The Company has designated foreign currency swaps as a hedge of the variability in cash flows of a forecasted transaction or of amounts to be received or paid related to a recognized asset (“cash flow” hedge). The remaining maximum length of time for which these cash flows are hedged is approximately two years. The derivatives in the Company's consolidated VIEs that are not designated as accounting hedges are discussed in the Non-qualifying Strategies section of this note. Fair Value Hedges The Company designates and accounts for certain foreign currency forwards, options, and interest rate swaptions as fair value hedges when they meet the requirements for hedge accounting. The Company recognizes gains and losses on these derivatives as well as the offsetting gain or loss on the related hedged items in current earnings. Foreign currency forwards and options hedge the foreign currency exposure of certain U.S. dollar-denominated available-for-sale fixed-maturity investments held in Aflac Japan. The change in the fair value of the foreign currency forwards related to the changes in the difference between the spot rate and the forward price is excluded from the assessment of hedge effectiveness. The change in fair value of the foreign currency option related to the time value of the option is recognized in current earnings and is excluded from the assessment of hedge effectiveness. Interest rate swaptions hedge the interest rate exposure of certain U.S. dollar-denominated available-for-sale securities held in Aflac Japan. For these hedging relationships, the Company excludes time value from the assessment of hedge effectiveness and recognizes changes in the intrinsic value of the swaptions in current earnings within net investment income. The change in the time value of the swaptions is recognized in other comprehensive income (loss) and amortized into earnings (net investment income) over its legal term. The following table presents the gains and losses on derivatives and the related hedged items in fair value hedges. The Company had no fair value hedges during the three- and six-month periods ended June 30, 2024. Fair Value Hedging Relationships (In millions) Hedging Derivatives Hedged Items Hedging Derivatives Hedged Items Total Gains (Losses) (1) Gains (Losses) (2) Gains (Losses) (2) Net Investment Gains (Losses) Recognized for Fair Value Hedge Three Months Ended June 30, 2023: Foreign currency options Fixed maturity securities $ (25) $ (25) $ 0 $ 0 $ 0 Total gains (losses) $ (25) $ (25) $ 0 $ 0 $ 0 Six Months Ended June 30, 2023: Foreign currency options Fixed maturity securities $ (64) $ (64) $ 0 $ 0 $ 0 Total gains (losses) $ (64) $ (64) $ 0 $ 0 $ 0 (1) Gains (losses) excluded from effectiveness testing includes the forward point on foreign currency forwards and time value change on foreign currency options which are reported in the consolidated statements of earnings as net investment gains (losses). It also includes the change in the fair value of the interest rate swaptions related to the time value of the swaptions which is recognized as a component of other comprehensive income (loss). (2) Gains and losses on foreign currency forwards and options and related hedged items are reported in the consolidated statements of earnings as net investment gains (losses). For interest rate swaptions and related hedged items, gains and losses included in the hedge assessment, premium amortization and time value amortization while the hedge items are still outstanding are reported within net investment income. The time value gains and losses for interest rate swaptions when the related hedged items are redeemed are reported in net investment gains (losses) consistent with the impact of the hedged item. For the three- and six-month periods ended June 30, 2023, gains and losses included in the hedge assessment on interest rate swaptions and related hedged items were immaterial. The following table shows the carrying amounts of assets designated and qualifying as hedged items in fair value hedges of interest rate risk and the related cumulative hedge adjustment included in the carrying amount. The Company had no fair value hedges of interest rate risk as of June 30, 2024 and December 31, 2023; therefore, the amounts presented in the table below are related to previous fair value hedges of interest rate risk that were discontinued. (In millions) Carrying Amount of the Hedged Assets/(Liabilities) (1) Cumulative Amount of Fair Value June 30, December 31, June 30, December 31, Fixed maturity securities $ 1,452 $ 1,692 $ 153 $ 164 (1) The balance includes hedging adjustment on discontinued hedging relationships of $153 in 2024 and $164 in 2023. Net Investment Hedge The Company's investment in Aflac Japan is affected by changes in the yen/dollar exchange rate. To mitigate this exposure, the Parent Company's yen-denominated liabilities (see Note 9) have been designated as non-derivative hedges and certain foreign currency forwards and options have been designated as derivative hedges of the foreign currency exposure of the Company's net investment in Aflac Japan. The Company's net investment hedge was effective during the three- and six-month periods ended June 30, 2024 and 2023, respectively. Non-qualifying Strategies For the Company's derivative instruments in consolidated VIEs that do not qualify for hedge accounting treatment, all changes in their fair value are reported in current period earnings within n et i nvestment gains (losses). The amount of gain or loss recognized in earnings for the Company's VIEs is attributable to the derivatives in those investment structures. While the change in value of the swaps is recorded in current period earnings, the change in value of the available-for-sale fixed maturity securities associated with these swaps is recorded in other comprehensive income. As of June 30, 2024, the Parent Company had $1.2 billion notional amount of cross-currency interest rate swap agreements related to certain of its U.S. dollar-denominated senior notes to effectively convert a portion of the interest on the notes from U.S. dollar to Japanese yen. Changes in the values of these swaps are recorded in current period earnings. The Company uses foreign currency forwards and options to economically mitigate the currency risk of some of its U.S. dollar-denominated loan receivables and U.S. government fixed maturity securities held within the Aflac Japan segment. These arrangements are not designated as accounting hedges, as the foreign currency remeasurement of the loan receivables impacts current period earnings, and substantially offsets gains and losses from foreign currency forwards within net investment gains (losses). The Company also has certain foreign currency forwards on U.S. dollar-denominated available-for-sale securities where hedge accounting is not being applied. The Company uses interest rate swaps to economically convert the variable rate investment income to a fixed rate on certain variable-rate investments. Impact of Derivatives and Hedging Instruments The following table summarizes the impact to earnings and other comprehensive income (loss) from all derivatives and hedging instruments. Three Months Ended June 30, 2024 2023 (In millions) Net Investment Income (1) Net Investment Other (2) Net Investment Income (1) Net Investment Other (2) Qualifying hedges: Cash flow hedges: Foreign currency swaps - VIE $ 0 $ (1) $ 0 $ 0 $ (1) $ 1 Total cash flow hedges 0 (1) (3) 0 0 (1) (3) 1 Fair value hedges: Foreign currency options 0 (25) Total fair value hedges 0 (25) Net investment hedge: Non-derivative hedging 0 265 0 313 Foreign currency forwards 32 155 37 393 Foreign currency options 0 0 (5) 0 Total net investment hedge 32 420 32 706 Non-qualifying strategies: Foreign currency swaps 1 2 Foreign currency swaps - VIE (128) (63) Foreign currency forwards 0 (331) Foreign currency options (141) (18) Interest rate swaps (38) (189) Forward bond purchase 0 (1) Total non-qualifying strategies (306) (600) Total $ 0 $ (275) $ 420 $ 0 $ (594) $ 707 1) Interest expense/income on cash flow hedges are recorded in net investment income. For interest rate swaptions classified as fair value hedges, the change in the time value of the swaptions is recognized in other comprehensive income (loss) and amortized into net investment income over its legal term. If the swaption is early terminated but the hedge item is still outstanding, the amortization of disposal amount of the swaptions is recorded in net investment income over the remaining life of the hedged items. (2) Gains and losses on cash flow hedges and the change in the fair value of interest rate swaptions related to the time value of the swaptions in fair value hedges are recorded as unrealized gains (losses). Gains and losses on net investment hedges related to changes in foreign currency spot rates are recorded in the unrealized foreign currency translation gains (losses) line in the consolidated statements of comprehensive income (loss). (3) Impact of cash flow hedges reported as net investment gains (losses) includes $1 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the three-month period ended June 30, 2024, and $1 of losses during the three-month period ended June 30, 2023. Six Months Ended June 30, 2024 2023 (In millions) Net Investment Income (1) Net Investment Other (2) Net Investment Income (1) Net Investment Other (2) Qualifying hedges: Cash flow hedges: Foreign currency swaps - VIE $ 0 $ (2) $ 0 $ 0 $ (2) $ 2 Total cash flow hedges 0 (2) (3) 0 0 (2) (3) 2 Fair value hedges: Foreign currency options 0 (64) Total fair value hedges 0 (64) Net investment hedge: Non-derivative hedging 0 501 0 338 Foreign currency forwards 76 300 127 422 Foreign currency options 0 0 (8) 0 Total net investment hedge 76 801 119 760 Non-qualifying strategies: Foreign currency swaps 2 3 Foreign currency swaps - VIE (216) (90) Foreign currency forwards 17 (382) Foreign currency options (182) (37) Interest rate swaps (185) (120) Forward bond purchase 0 (4) Total non-qualifying strategies (564) (630) Total $ 0 $ (490) $ 801 $ 0 $ (577) $ 762 (1) Interest expense/income on cash flow hedges are recorded in net investment income. For interest rate swaptions classified as fair value hedges, the change in the time value of the swaptions is recognized in other comprehensive income (loss) and amortized into net investment income over its legal term. If the swaption is early terminated but the hedge item is still outstanding, the amortization of disposal amount of the swaptions is recorded in net investment income over the remaining life of the hedged items. (2) Gains and losses on cash flow hedges and the change in the fair value of interest rate swaptions related to the time value of the swaptions in fair value hedges are recorded as unrealized gains (losses). Gains and losses on net investment hedges related to changes in foreign currency spot rates are recorded in the unrealized foreign currency translation gains (losses) line in the consolidated statements of comprehensive income (loss). (3) Impact of cash flow hedges reported as net investment gains (losses) includes $2 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the six-month period ended June 30, 2024, and $1 of losses during the six-month period ended June 30, 2023. As of June 30, 2024, $5 million of deferred losses on derivative instruments recorded in accumulated other comprehensive income are expected to be reclassified into earnings during the next twelve months. Credit Risk Assumed through Derivatives For the foreign currency swaps associated with the Company's VIE investments for which it is the primary beneficiary, the Company bears the risk of loss due to counterparty default even though it is not a direct counterparty to those contracts. The Company is a direct counterparty to the foreign currency swaps that it has entered into in connection with certain of its senior notes and subordinated debentures; foreign currency forwards; and foreign currency options, and therefore the Company is exposed to credit risk in the event of nonperformance by the counterparties in those contracts. The risk of counterparty default for the Company's foreign currency swaps, certain foreign currency forwards, and foreign currency options is mitigated by collateral posting requirements that counterparties to those transactions must meet. As of June 30, 2024, all of the Company's derivative agreement counterparties were investment grade. The Company engages in over-the-counter (OTC) bilateral derivative transactions directly with unaffiliated third parties under International Swaps and Derivatives Association, Inc. (ISDA) agreements and other documentation. Most of the ISDA agreements also include Credit Support Annexes (CSAs) provisions, which generally provide for two-way collateral postings at the first dollar of exposure. The Company mitigates the risk that counterparties to transactions might be unable to fulfill their contractual obligations by monitoring counterparty credit exposure and collateral value while generally requiring that collateral be posted at the outset of the transaction. In addition, a significant portion of the derivative transactions have provisions that give the counterparty the right to terminate the transaction upon a downgrade of the Company's financial strength rating. The actual amount of payments that the Company could be required to make depends on market conditions, the fair value of outstanding affected transactions, and other factors prevailing at and after the time of the downgrade. The Company also engages in OTC cleared derivative transactions through regulated central clearing counterparties. These positions are marked to market and margined on a daily basis (both initial margin and variation margin), and the Company has minimal exposure to credit-related losses in the event of nonperformance by counterparties to these derivatives. Collateral posted by the Company to third parties for derivative transactions can generally be repledged or resold by the counterparties. The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a net liability position by counterparty was approximately $1.2 billion as of June 30, 2024 and December 31, 2023, respectively. If the credit-risk-related contingent features underlying these agreements had been triggered on June 30, 2024, the Company estimates that it would be required to post a maximum of $538 million of additional collateral to these derivative counterparties. The Company is generally allowed to sell or repledge collateral obtained from its derivative counterparties, although it does not typically exercise such rights. See the Offsetting tables below for collateral posted or received as of the reported balance sheet dates. Offsetting of Financial Instruments and Derivatives Most of the Company's derivative instruments are subject to enforceable master netting arrangements that provide for the net settlement of all derivative contracts between the Parent Company or its subsidiaries and the respective counterparty in the event of default or upon the occurrence of certain termination events. Collateral support agreements with the master netting arrangements generally provide that the Company will receive or pledge financial collateral at the first dollar of exposure. The Company has securities lending agreements with unaffiliated financial institutions that post collateral to the Company in return for the use of its fixed maturity and public equity securities (see Note 3). When the Company has entered into securities lending agreements with the same counterparty, the agreements generally provide for net settlement in the event of default by the counterparty. This right of set-off allows the Company to keep and apply collateral received if the counterparty failed to return the securities borrowed from the Company as contractually agreed. The tables below summarize the Company's derivatives and securities lending transactions, and as reflected in the tables, in accordance with U.S. GAAP, the Company's policy is to not offset these financial instruments in the consolidated balance sheets. Offsetting of Financial Assets and Derivative Assets June 30, 2024 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Assets Gross Amount Net Amount of Assets Presented Financial Instruments Securities Cash Collateral Received Net Amount Derivative Derivative assets subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 258 $ 0 $ 258 $ (6) $ (90) $ (161) $ 1 Total derivative 258 0 258 (6) (90) (161) 1 Derivative assets not subject to a master netting agreement or offsetting arrangement OTC - bilateral 58 58 58 Total derivative 58 58 58 Total derivative 316 0 316 (6) (90) (161) 59 Securities lending 4,459 0 4,459 0 0 (4,459) 0 Total $ 4,775 $ 0 $ 4,775 $ (6) $ (90) $ (4,620) $ 59 December 31, 2023 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Assets Gross Amount Net Amount of Assets Presented Financial Instruments Securities Cash Collateral Received Net Amount Derivative Derivative assets subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 271 $ 0 $ 271 $ (85) $ (53) $ (130) $ 3 OTC - cleared 11 0 11 (11) 0 0 0 Total derivative 282 0 282 (96) (53) (130) 3 Derivative assets not subject to a master netting agreement or offsetting arrangement OTC - bilateral 55 55 55 Total derivative 55 55 55 Total derivative 337 0 337 (96) (53) (130) 58 Securities lending 1,480 0 1,480 0 0 (1,480) 0 Total $ 1,817 $ 0 $ 1,817 $ (96) $ (53) $ (1,610) $ 58 Offsetting of Financial Liabilities and Derivative Liabilities June 30, 2024 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Liabilities Gross Amount Net Amount of Liabilities Presented Financial Instruments Securities Cash Collateral Pledged Net Amount Derivative Derivative liabilities subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 173 $ 0 $ 173 $ (6) $ (167) $ 0 $ 0 OTC - cleared 451 0 451 0 (7) (444) 0 Total derivative 624 0 624 (6) (174) (444) 0 Derivative liabilities not subject to a master netting agreement or offsetting arrangement OTC - bilateral 700 700 700 Total derivative 700 700 700 Total derivative 1,324 0 1,324 (6) (174) (444) 700 Securities lending 4,493 0 4,493 (4,459) 0 0 34 Total $ 5,817 $ 0 $ 5,817 $ (4,465) $ (174) $ (444) $ 734 December 31, 2023 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Liabilities Gross Amount Net Amount of Liabilities Presented Financial Instruments Securities Cash Collateral Pledged Net Amount Derivative Derivative liabilities subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 504 $ 0 $ 504 $ (85) $ (381) $ (37) $ 1 OTC - cleared 419 0 419 (11) (19) (389) 0 Total derivative 923 0 923 (96) (400) (426) 1 Derivative liabilities not subject to a master netting agreement or offsetting arrangement OTC - bilateral 507 507 507 Total derivative 507 507 507 Total derivative 1,430 0 1,430 (96) (400) (426) 508 Securities lending 1,503 0 1,503 (1,480) 0 0 23 Total $ 2,933 $ 0 $ 2,933 $ (1,576) $ (400) $ (426) $ 531 For additional information on the Company's financial instruments, see the accompanying Notes 3 and 5 and Notes 1, 3 and 5 of the Notes to the Consolidated Financial Statements in the 2023 Annual Report.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair Value Hierarchy U.S. GAAP specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. These two types of inputs create three valuation hierarchy levels, as follows: • Level 1 valuations reflect quoted market prices for identical assets or liabilities in active markets. • Level 2 valuations reflect quoted market prices for similar assets or liabilities in an active market, quoted market prices for identical or similar assets or liabilities in non-active markets or model-derived valuations in which all significant valuation inputs are observable in active markets. • Level 3 valuations reflect valuations in which one or more of the significant inputs are not observable in an active market. The following tables present the fair value hierarchy levels of the Company's assets and liabilities that are measured and carried at fair value on a recurring basis. June 30, 2024 (In millions) Quoted Prices in Significant Significant Total Assets: Securities available-for-sale, carried at Fixed maturity securities: Government and agencies $ 17,520 $ 761 $ 0 $ 18,281 Municipalities 0 2,083 0 2,083 Mortgage- and asset-backed securities 0 2,490 1,213 3,703 Public utilities 0 6,461 365 6,826 Sovereign and supranational 0 435 25 460 Banks/financial institutions 0 8,630 69 8,699 Other corporate 0 25,823 384 26,207 Total fixed maturity securities 17,520 46,683 2,056 66,259 Equity securities 571 0 157 728 Other investments 3,380 0 0 3,380 Cash and cash equivalents 6,060 0 0 6,060 Other assets: Foreign currency swaps 0 74 0 74 Foreign currency forwards 0 235 0 235 Foreign currency options 0 7 0 7 Total other assets 0 316 0 316 Total assets $ 27,531 $ 46,999 $ 2,213 $ 76,743 Liabilities: Other liabilities: Foreign currency swaps $ 0 $ 700 $ 0 $ 700 Foreign currency options 0 173 0 173 Interest rate swaps 0 451 0 451 Total liabilities $ 0 $ 1,324 $ 0 $ 1,324 December 31, 2023 (In millions) Quoted Prices in Significant Significant Total Assets: Securities available-for-sale, carried at Fixed maturity securities: Government and agencies $ 21,700 $ 900 $ 0 $ 22,600 Municipalities 0 2,298 0 2,298 Mortgage- and asset-backed securities 0 2,314 772 3,086 Public utilities 0 7,339 253 7,592 Sovereign and supranational 0 507 30 537 Banks/financial institutions 0 8,757 78 8,835 Other corporate 0 27,694 648 28,342 Total fixed maturity securities 21,700 49,809 1,781 73,290 Equity securities 840 0 248 1,088 Other investments 1,304 0 0 1,304 Cash and cash equivalents 4,306 0 0 4,306 Other assets: Foreign currency swaps 0 86 0 86 Foreign currency forwards 0 238 0 238 Foreign currency options 0 2 0 2 Interest rate swaps 0 11 0 11 Total other assets 0 337 0 337 Total assets $ 28,150 $ 50,146 $ 2,029 $ 80,325 Liabilities: Other liabilities: Foreign currency swaps $ 0 $ 507 $ 0 $ 507 Foreign currency forwards 0 504 0 504 Interest rate swaps 0 419 0 419 Total liabilities $ 0 $ 1,430 $ 0 $ 1,430 The following tables present the carrying amount and fair value categorized by fair value hierarchy level for the Company's financial instruments that are not carried at fair value. June 30, 2024 (In millions) Carrying Quoted Prices in Significant Significant Total Assets: Securities held-to-maturity, Fixed maturity securities: Government and agencies $ 15,038 $ 15,727 $ 140 $ 0 $ 15,867 Municipalities 232 0 256 0 256 Public utilities 31 0 32 0 32 Sovereign and 368 0 398 0 398 Other corporate 16 0 17 0 17 Commercial mortgage and 11,795 0 0 11,457 11,457 Other investments (1) 47 0 47 0 47 Total assets $ 27,527 $ 15,727 $ 890 $ 11,457 $ 28,074 Liabilities: Other policyholders’ funds $ 5,439 $ 0 $ 0 $ 5,364 $ 5,364 Notes payable 7,322 0 6,275 663 6,938 Total liabilities $ 12,761 $ 0 $ 6,275 $ 6,027 $ 12,302 (1) Excludes policy loans of $195, equity method investments of $2,983, and REO of $497, at carrying valu e. December 31, 2023 (In millions) Carrying Quoted Prices in Significant Significant Total Assets: Securities held-to-maturity, Fixed maturity securities: Government and agencies $ 17,083 $ 18,662 $ 167 $ 0 $ 18,829 Municipalities 266 0 307 0 307 Public utilities 34 0 38 0 38 Sovereign and 418 0 462 0 462 Other corporate 18 0 21 0 21 Commercial mortgage and 12,527 0 0 12,217 12,217 Other investments (1) 35 0 35 0 35 Total assets $ 30,381 $ 18,662 $ 1,030 $ 12,217 $ 31,909 Liabilities: Other policyholders’ funds $ 6,169 $ 0 $ 0 $ 6,080 $ 6,080 Notes payable 7,240 0 6,178 752 6,930 Total liabilities $ 13,409 $ 0 $ 6,178 $ 6,832 $ 13,010 (1) Excludes policy loans of $214, equity method investments of $2,750, and REO of $227, at carrying value. Fair Value of Financial Instruments Fixed maturity and equity securities The fair values of the Company’s public fixed maturity securities are generally based on prices provided by third-party pricing vendors. The Company utilizes internally generated valuations or broker quotes for privately issued fixed maturity securities or fixed maturity securities where there is no price available from a third-party pricing vendor. The fair values of the Company's public equity securities are generally based on price quotes, including quoted market prices readily available from independent public exchange markets or established security dealer associations. The Company determines the fair values of privately issued equity securities using the following approaches or techniques: price quotes and valuations from third-party pricing vendors, in-house valuations and non-binding price quotes the Company obtains from outside brokers. The pricing data and market quotes the Company obtains from outside sources, including third-party pricing services, are reviewed internally for reasonableness. If a fair value appears unreasonable, the Company will re-examine the inputs and assess the reasonableness of the pricing data with the provider. Additionally, the Company may compare the inputs to relevant market indices and other performance measurements. Based on management's analysis, the valuation is confirmed or may be revised if there is evidence of a more appropriate estimate of fair value based on available market data. The Company has performed verification of the inputs and calculations in any valuation models, including independent validations and back testing, to confirm that the valuations represent reasonable estimates of fair value. For the periods presented, the Company has not adjusted the quotes or prices it obtains from the pricing services and brokers it uses. For internally generated valuations, the Company utilizes valuation models developed by a third-party pricing vendor. The models and associated processes and controls are executed by Company personnel. These models are discounted cash flow (DCF) valuation models but also use information from related markets, specifically public bond markets and the credit default swap (CDS) market, to estimate expected cash flows. The models take into consideration any unique characteristics of the securities and make various adjustments to arrive at an appropriate issuer-specific loss adjusted credit curve using the most appropriate comparable security(ies) of the issuer and issuer-specific CDS spreads. This credit curve is then used with the relevant recovery rates to estimate expected cash flows and modeling of additional features, including illiquidity adjustments, if necessary, to price the security by discounting those loss adjusted cash flows. In cases where a credit curve cannot be developed from market information for the specific issuer, the valuation methodology takes into consideration other market observable inputs, including: • the most appropriate comparable security(ies) of a guarantor and/or parent • CDS spreads of a guarantor and/or parent • bonds of comparable issuers with similar characteristics such as rating, geography, or sector • CDS spreads of an appropriate index or of comparable issuers with similar characteristics such as rating, geography, or sector • bond indices that are comparative in rating, industry, maturity, and region. The following tables present the pricing sources for the fair values of the Company's fixed maturity and equity securities. June 30, 2024 (In millions) Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs Total Securities available-for-sale, carried at fair value: Fixed maturity securities: Government and agencies: Third-party pricing vendor $ 17,520 $ 450 $ 0 $ 17,970 Internal 0 311 0 311 Total government and agencies 17,520 761 0 18,281 Municipalities: Third-party pricing vendor 0 1,836 0 1,836 Internal 0 247 0 247 Total municipalities 0 2,083 0 2,083 Mortgage- and asset-backed securities: Third-party pricing vendor 0 2,446 40 2,486 Internal 0 44 39 83 Broker/other 0 0 1,134 1,134 Total mortgage- and asset-backed securities 0 2,490 1,213 3,703 Public utilities: Third-party pricing vendor 0 3,576 0 3,576 Internal 0 2,885 0 2,885 Broker/other 0 0 365 365 Total public utilities 0 6,461 365 6,826 Sovereign and supranational: Third-party pricing vendor 0 124 0 124 Internal 0 311 0 311 Broker/other 0 0 25 25 Total sovereign and supranational 0 435 25 460 Banks/financial institutions: Third-party pricing vendor 0 4,765 0 4,765 Internal 0 3,865 60 3,925 Broker/other 0 0 9 9 Total banks/financial institutions 0 8,630 69 8,699 Other corporate: Third-party pricing vendor 0 20,738 0 20,738 Internal 0 5,024 127 5,151 Broker/other 0 61 257 318 Total other corporate 0 25,823 384 26,207 Total securities available-for-sale $ 17,520 $ 46,683 $ 2,056 $ 66,259 Equity securities, carried at fair value: Third-party pricing vendor $ 571 $ 0 $ 0 $ 571 Broker/other 0 0 157 157 Total equity securities $ 571 $ 0 $ 157 $ 728 June 30, 2024 (In millions) Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs Total Securities held-to-maturity, carried at amortized cost: Fixed maturity securities: Government and agencies: Third-party pricing vendor $ 15,727 $ 140 $ 0 $ 15,867 Total government and agencies 15,727 140 0 15,867 Municipalities: Third-party pricing vendor 0 256 0 256 Total municipalities 0 256 0 256 Public utilities: Third-party pricing vendor 0 32 0 32 Total public utilities 0 32 0 32 Sovereign and supranational: Third-party pricing vendor 0 196 0 196 Internal 0 202 0 202 Total sovereign and supranational 0 398 0 398 Other corporate: Third-party pricing vendor 0 17 0 17 Total other corporate 0 17 0 17 Total securities held-to-maturity $ 15,727 $ 843 $ 0 $ 16,570 December 31, 2023 (In millions) Quoted Prices in Active Markets Significant Observable Significant Unobservable Inputs Total Securities available-for-sale, carried at fair value: Fixed maturity securities: Government and agencies: Third-party pricing vendor $ 21,692 $ 808 $ 0 $ 22,500 Internal 0 60 0 60 Broker/other 8 32 0 40 Total government and agencies 21,700 900 0 22,600 Municipalities: Third-party pricing vendor 0 1,426 0 1,426 Internal 0 256 0 256 Broker/other 0 616 0 616 Total municipalities 0 2,298 0 2,298 Mortgage- and asset-backed securities: Third-party pricing vendor 0 2,277 0 2,277 Internal 0 27 105 132 Broker/other 0 10 667 677 Total mortgage- and asset-backed securities 0 2,314 772 3,086 Public utilities: Third-party pricing vendor 0 4,570 0 4,570 Internal 0 2,677 0 2,677 Broker/other 0 92 253 345 Total public utilities 0 7,339 253 7,592 Sovereign and supranational: Third-party pricing vendor 0 118 0 118 Internal 0 330 0 330 Broker/other 0 59 30 89 Total sovereign and supranational 0 507 30 537 Banks/financial institutions: Third-party pricing vendor 0 5,085 0 5,085 Internal 0 3,008 69 3,077 Broker/other 0 664 9 673 Total banks/financial institutions 0 8,757 78 8,835 Other corporate: Third-party pricing vendor 0 18,088 4 18,092 Internal 0 4,210 230 4,440 Broker/other 0 5,396 414 5,810 Total other corporate 0 27,694 648 28,342 Total securities available-for-sale $ 21,700 $ 49,809 $ 1,781 $ 73,290 Equity securities, carried at fair value: Third-party pricing vendor $ 800 $ 0 $ 0 $ 800 Internal 0 0 216 216 Broker/other 40 0 32 72 Total equity securities $ 840 $ 0 $ 248 $ 1,088 December 31, 2023 (In millions) Quoted Prices in Active Markets Significant Observable Significant Unobservable Inputs Total Securities held-to-maturity, carried at amortized cost: Fixed maturity securities: Government and agencies: Third-party pricing vendor $ 18,662 $ 167 $ 0 $ 18,829 Total government and agencies 18,662 167 0 18,829 Municipalities: Third-party pricing vendor 0 307 0 307 Total municipalities 0 307 0 307 Public utilities: Third-party pricing vendor 0 38 0 38 Total public utilities 0 38 0 38 Sovereign and supranational: Third-party pricing vendor 0 226 0 226 Internal 0 236 0 236 Total sovereign and supranational 0 462 0 462 Other corporate: Third-party pricing vendor 0 21 0 21 Total other corporate 0 21 0 21 Total securities held-to-maturity $ 18,662 $ 995 $ 0 $ 19,657 The following is a discussion of the determination of fair value of the Company's remaining financial instruments. Derivatives The Company uses derivative instruments to manage the risk associated with certain assets. However, the derivative instrument may not be classified in the same fair value hierarchy level as the associated asset. The significant inputs to pricing derivatives are generally observable in the market or can be derived by observable market data. When these inputs are observable, the derivatives are classified as Level 2. The Company uses present value techniques to value non-option based derivatives. It also uses option pricing models to value option based derivatives. Key inputs are as follows: Instrument Type Level 2 Interest rate derivatives Swap yield curves Basis curves Interest rate volatility (1) Foreign currency exchange rate derivatives - Non-VIEs (forwards, swaps and options) Foreign currency forward rates Swap yield curves Basis curves Foreign currency spot rates Foreign cross-currency basis curves Foreign currency volatility (1) Foreign currency exchange rate derivatives - VIEs (swaps) Foreign currency spot rates Swap yield curves Credit default swap curves Basis curves Recovery rates Foreign currency forward rates Foreign cross-currency basis curves (1) Option-based only The fair values of the foreign currency forwards and options are based on observable market inputs, therefore they are classified as Level 2. The Parent Company has cross-currency swap agreements related to certain of its U.S. dollar-denominated senior notes to effectively convert a portion of the interest on the notes from U.S. dollar to Japanese yen. Their fair values are based on observable market inputs, therefore they are classified as Level 2. To determine the fair value of its interest rate derivatives, the Company uses inputs that are generally observable in the market or can be derived from observable market data. Interest rate swaps are cleared trades. In a cleared swap contract, the clearinghouse provides benefits to the counterparties similar to contracts listed for investment traded on an exchange since it maintains a daily margin to mitigate counterparties' credit risk. These derivatives are priced using observable inputs, accordingly, they are classified as Level 2. For derivatives associated with VIEs where the Company is the primary beneficiary, the Company is not the direct counterparty to the swap contracts. Nevertheless, the Company has full transparency into the contracts to properly value the swaps for reporting purposes. For these derivatives, the Company utilizes valuation models developed by independent valuation analytics providers. The models are market standard DCF models and all associated processes and controls are executed by Company personnel. These models take into consideration any unique characteristics of the derivatives in determining the appropriate valuation methodology to estimate expected cash flows. The fair values of these swaps are based on observable market inputs and are classified as Level 2 within the fair value hierarchy. For forward bond purchase commitments with VIEs, the fair value of the derivative is based on the difference in the fixed purchase price and the current market value of the related bond prior to the settlement date. Since the bond is typically a public bond with readily available pricing, the derivatives associated with the forward purchase commitment are classified as Level 2 within the fair value hierarchy. Commercial mortgage and other loans Commercial mortgage and other loans include TREs, CMLs, MMLs and other loans. The Company's loan receivables do not have readily determinable market prices and generally lack market liquidity. Fair values for loan receivables are determined based on the present value of expected future cash flows discounted at the applicable U.S. Treasury or floating-rate benchmark yield plus an appropriate spread that considers other risk factors, such as credit and liquidity risk. The spreads are a significant component of the pricing inputs and are generally considered unobservable. Therefore, these investments are classified as Level 3 within the fair value hierarchy. Other investments Other investments includes short-term investments that are measured at fair value where amortized cost approximates fair value. Other policyholders' funds The largest component of the other policyholders' funds liability is the Company's annuity line of business in Aflac Japan. The Company's annuities have fixed benefits and premiums. For this product, the Company estimates the fair value to be equal to the cash surrender value. This is analogous to the value paid to policyholders on the valuation date if they were to surrender their policy. The Company periodically checks the cash value against discounted cash flow projections for reasonableness. The Company considers its inputs for this valuation to be unobservable and have accordingly classified this valuation as Level 3. Notes payable The fair values of the Company's publicly issued notes payable are determined by utilizing available sources of observable inputs from third-party pricing vendors and are classified as Level 2. The fair values of the Company's yen-denominated loans approximate their carrying values and are classified as Level 3. Transfers between Hierarchy Levels and Level 3 Rollforward Assets and liabilities are transferred into Level 3 when a significant input cannot be corroborated with market observable data. This occurs when market activity decreases significantly and underlying inputs cannot be observed, current prices are not available, and/or when there are significant variances in quoted prices, thereby affecting transparency. Assets and liabilities are transferred out of Level 3 when circumstances change such that a significant input can be corroborated with market observable data. This may be due to a significant increase in market activity, a specific event, or one or more significant input(s) becoming observable. The following tables present the changes in fair value of the Company's investments carried at fair value classified as Level 3. Three Months Ended June 30, 2024 Fixed Maturity Securities Equity (In millions) Mortgage- Public Sovereign Banks/ Other Total Balance, beginning of period $ 859 $ 507 $ 28 $ 74 $ 450 $ 159 $ 2,077 Net investment gains (losses) included 1 0 0 0 0 (2) (1) Unrealized gains (losses) included in (5) (1) (1) (5) (5) 0 (17) Purchases, issuances, sales and Purchases 189 39 0 0 58 0 286 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (21) (3) (2) 0 0 0 (26) Transfers into Level 3 190 56 0 0 0 0 246 Transfers out of Level 3 0 (233) 0 0 (119) 0 (352) Balance, end of period $ 1,213 $ 365 $ 25 $ 69 $ 384 $ 157 $ 2,213 Changes in unrealized gains (losses) $ 1 $ 0 $ 0 $ 0 $ 0 $ (3) $ (2) Three Months Ended June 30, 2023 Fixed Maturity Securities Equity (In millions) Mortgage- Public Sovereign Banks/ Other Total Balance, beginning of period $ 418 $ 350 $ 37 $ 161 $ 753 $ 221 $ 1,940 Net investment gains (losses) included 0 0 0 0 0 (8) (8) Unrealized gains (losses) included in (13) (16) (3) 2 (22) 0 (52) Purchases, issuances, sales and Purchases 136 0 0 0 37 0 173 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (13) (2) (2) (7) (1) 0 (25) Transfers into Level 3 124 0 0 0 0 0 124 Transfers out of Level 3 0 (30) 0 (87) (195) 0 (312) Balance, end of period $ 652 $ 302 $ 32 $ 69 $ 572 $ 213 $ 1,840 Changes in unrealized gains (losses) $ 0 $ 0 $ 0 $ 0 $ 0 $ (8) $ (8) Six Months Ended June 30, 2024 Fixed Maturity Securities Equity (In millions) Mortgage- Public Sovereign Banks/ Other Total Balance, beginning of period $ 772 $ 253 $ 30 $ 78 $ 648 $ 248 $ 2,029 Net investment gains (losses) included 2 0 0 0 0 (7) (5) Unrealized gains (losses) included in (9) (11) (3) (9) (4) 0 (36) Purchases, issuances, sales Purchases 307 99 0 5 95 0 506 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (49) (25) (2) (5) (3) (84) (168) Transfers into Level 3 190 282 0 0 0 0 472 Transfers out of Level 3 0 (233) 0 0 (352) 0 (585) Balance, end of period $ 1,213 $ 365 $ 25 $ 69 $ 384 $ 157 $ 2,213 Changes in unrealized gains $ 2 $ 0 $ 0 $ 0 $ 0 $ (6) $ (4) Six Months Ended June 30, 2023 Fixed Maturity Securities Equity (In millions) Mortgage- Public Sovereign Banks/ Other Total Balance, beginning of period $ 343 $ 497 $ 37 $ 159 $ 742 $ 209 $ 1,987 Net investment gains (losses) included 0 0 0 0 0 (6) (6) Unrealized gains (losses) included in (10) (6) (3) 4 8 0 (7) Purchases, issuances, sales and Purchases 328 0 0 0 112 10 450 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (133) (9) (2) (7) (3) 0 (154) Transfers into Level 3 124 18 0 0 0 0 142 Transfers out of Level 3 0 (198) 0 (87) (287) 0 (572) Balance, end of period $ 652 $ 302 $ 32 $ 69 $ 572 $ 213 $ 1,840 Changes in unrealized gains $ 0 $ 0 $ 0 $ 0 $ 0 $ (5) $ (5) Fair Value Sensitivity Level 3 Significant Unobservable Input Sensitivity The following tables summarize the significant unobservable inputs used in the valuation of the Company's Level 3 investments carried at fair value. Included in the tables are the inputs or range of possible inputs that have an effect on the overall valuation of the financial instruments. June 30, 2024 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Weighted Average Assets: Securities available-for-sale, carried at fair value: Fixed maturity securities: Mortgage- and asset-backed securities $ 1,213 Consensus pricing Offered quotes 85.46 - 104.49 (a) 98.74 Public utilities 365 Discounted cash flow Credit spreads 175 bps - 225 bps (c) 209 bps Sovereign and supranational 25 Consensus pricing Offered quotes N/A (b) N/A Banks/financial institutions 69 Discounted cash flow Credit spreads N/A (b) N/A Other corporate 384 Discounted cash flow Credit spreads 89 bps - 363 bps (c) 224 bps Equity securities 157 Adjusted cost Private financials N/A (d) N/A Total assets $ 2,213 (a) Represents prices for securities where the Company receives unadjusted broker quotes and for which there is no transparency into the providers' valuation techniques. (b) Category represents a single security; range not applicable. (c) Actual or equivalent credit spreads in basis points. (d) Prices do not utilize credit spreads; therefore, range is not applicable. December 31, 2023 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Weighted Average Assets: Securities available-for-sale, carried at fair value: Fixed maturity securities: Mortgage- and asset-backed securities $ 772 Consensus pricing Offered quotes 84.81 - 105.89 (a) 99.39 Public utilities 253 Consensus pricing Offered quotes 94.34 - 102.99 (a) 96.46 Sovereign and supranational 30 Consensus pricing Offered quotes N/A (b) N/A Banks/financial institutions 78 Discounted cash flow Credit spreads N/A (b) N/A Other corporate 648 Discounted cash flow Credit spreads 69 bps - 423 bps (c) 206 bps Equity securities 248 Adjusted cost Private financials N/A (d) N/A Total assets $ 2,029 (a) Represents prices for securities where the Company receives unadjusted broker quotes and for which there is no transparency into the providers' valuation techniques. (b) Category represents a single security; range not applicable. (c) Actual or equivalent credit spreads in basis points. (d) Prices do not utilize credit spreads; therefore, range is not applicable The following is a discussion of the significant unobservable inputs or valuation techniques used in determining the fair value of securities classified as Level 3. Credit Spreads The Company holds certain assets that are of a unique, specialized, and/or securitized nature that do not trade on a regular basis in an active market, which makes their fair values difficult to estimate. Most of these assets are managed by external asset managers and the Company utilizes these managers for their expertise when evaluating various inputs used to determine the fair values for these assets, including identifying the appropriate credit or risk spread over risk-free interest rates that incorporates the unique nature or structure of the asset in the valuations. For those assets of a similar nature but not managed by external asset managers, the Company internally estimates the spreads and risk adjustments over risk-free interest rates that reflect the unique nature or structure of the asset as well as the current pricing environment and market conditions for comparable or related investments. Credit or risk spreads are an important input needed to complete the discounted cash flow analyses used to estimate an investment’s fair value. Credit or risk spreads underlying these fair values are a significant, unobservable input whose derivation is based on the Company’s evaluation of a combination of the external manager’s expertise and knowledge, the current pricing environment, and market conditions for the specific asset. Offered Quotes In circumstances where the Company's valuation model price is overridden because it implies a value that is not consistent with current market conditions, the Company will solicit bids from a limited number of brokers. The Company also receives unadjusted prices from brokers for certain of its mortgage and asset-backed securities. These quotes are non-binding but are reflective of valuation best estimates at that particular point in time. Offered quotes are an unobservable input in the determination of fair value of mortgage- and asset-backed securities, certain banks/financial institutions, certain other corporate, and equity securities investments. Private Financials The Company invests in the debt and equity securities of private companies operating in the cancer, healthtech, insurtech, finance, internet of things, big data and analytics sectors. Due to their private and often small, startup nature, these companies rely on capital provided by institutional and private equity investors for their ongoing operations. They do not have public securities that trade on a regular basis in an active market, which makes their fair values difficult to estimate. The Company values these investments on a cost basis with appropriate adjustments made based on monitoring private financial information provided by these companies. Adjustments to valuations are generally made as new funding tranches are executed or if the financial information provided significantly changes indicating the need for impairment. This private financial information is unobservable and is a significant determinant in the fair value of these corporate venture investments. For additional information on the Company's investments and financial instruments, see the accompanying Notes 3 and 4 and Notes 1, 3 and 4 of the Notes to the Consolidated Financial Statements in the 2023 Annual Report.

DEFERRED POLICY ACQUISITION COS

DEFERRED POLICY ACQUISITION COSTS	6 Months Ended
	Jun. 30, 2024
Insurance [Abstract]
DEFERRED POLICY ACQUISITION COSTS	DEFERRED POLICY ACQUISITION COSTS The following tables present a rollforward of deferred policy acquisition costs by reporting segment and disaggregated by product type. June 30, 2024 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Total Deferred policy acquisition costs: Balance at December 31, 2023 $ 2,971 $ 2,041 $ 491 $ 56 $ 917 $ 625 $ 1,336 $ 436 $ 86 $ 172 $ 1 $ 9,132 Capitalization 146 55 15 2 68 62 81 41 6 31 1 508 Amortization expense (92) (50) (16) (2) (72) (59) (77) (36) (6) (14) 0 (424) Foreign currency translation and (358) (244) (58) (6) 0 0 0 0 0 0 0 (666) Balance at June 30, 2024 $ 2,667 $ 1,802 $ 432 $ 50 $ 913 $ 628 $ 1,340 $ 441 $ 86 $ 189 $ 2 $ 8,550 December 31, 2023 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Total Deferred policy acquisition costs: Balance at December 31, 2022 $ 3,035 $ 2,161 $ 525 $ 55 $ 904 $ 613 $ 1,304 $ 418 $ 88 $ 135 $ 1 $ 9,239 Capitalization 317 123 33 8 151 125 173 84 10 61 1 1,086 Amortization expense (184) (105) (34) (3) (138) (113) (141) (66) (12) (24) 4 (816) Foreign currency translation and (197) (138) (33) (4) 0 0 0 0 0 0 (5) (377) Balance at December 31, 2023 $ 2,971 $ 2,041 $ 491 $ 56 $ 917 $ 625 $ 1,336 $ 436 $ 86 $ 172 $ 1 $ 9,132 The Company uses the following constant level bases to amortize deferred policy acquisition costs: Policy Type Constant-level Basis Life Products (U.S.) Face Amount Health Products (U.S.) Number of Policies in Force Health & Life Products (Japan) Units in Force Face amount is the stated dollar amount that the policy’s beneficiaries receive upon the death of the insured. For life and health products issued in Japan, the constant-level basis used is units in force, which is a proxy for face amount and insurance in force, respectively. Future DAC amortization is impacted by persistency. There were no changes to the inputs, judgments, assumptions and methods used to determine amortization amounts during the six-month periods ended June 30, 2024 and 2023. For additional information on deferred policy acquisition costs, see Notes 1 and 6 of the Notes to the Consolidated Financial Statements in the 2023 Annual Report.

POLICY LIABILITIES

POLICY LIABILITIES	6 Months Ended
	Jun. 30, 2024
Insurance Loss Reserves [Abstract]
POLICY LIABILITIES	POLICY LIABILITIES Future Policy Benefits The liability for future policy benefits is determined as the present value of expected future policy benefits to be paid to or on the behalf of policyholders and certain related expenses less the present value of expected future net premiums receivable under the Company's insurance contracts. Future net premiums receivable are future gross premiums receivable under the contract multiplied by the net premium ratio (NPR). The following tables present the changes in the present value of expected future net premiums and the present value of expected future policy benefits by reporting segment and disaggregated by product type. The present value of expected future net premiums and the present value of expected future policy benefits are presented gross of internal and external ceded reinsurance. June 30, 2024 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future net premiums: Balance at December 31, 2023 $ 17,509 $ 14,697 $ 6,488 $ 1,088 $ 2,488 $ 1,652 $ 4,074 $ 1,107 $ 206 $ 853 $ 277 Beginning balance at original discount rate 16,452 14,040 6,258 1,069 2,630 1,738 4,416 1,193 217 909 272 Effect of changes in cash flow assumptions 0 0 0 0 0 0 0 0 0 0 0 Effect of actual variances from expected (77) (84) (39) (8) 3 0 (60) (6) (7) (18) 11 Adjusted beginning of period balance 16,375 13,956 6,219 1,061 2,633 1,738 4,356 1,187 210 891 283 Issuances 439 193 105 10 174 203 323 138 29 117 264 Interest accrual 189 149 55 9 52 33 87 22 4 18 9 Net premiums collected (1) (721) (565) (435) (50) (236) (201) (286) (120) (20) (76) (20) Foreign currency translation (1,956) (1,661) (730) (127) 0 0 0 0 0 0 0 Other 0 0 0 0 (3) (4) (3) 0 1 (3) (4) Ending balance at original discount rate 14,326 12,072 5,214 903 2,620 1,769 4,477 1,227 224 947 532 Effect of changes in discount rate assumptions 326 47 64 (12) (197) (108) (472) (109) (16) (73) 0 Balance at June 30, 2024 $ 14,652 $ 12,119 $ 5,278 $ 891 $ 2,423 $ 1,661 $ 4,005 $ 1,118 $ 208 $ 874 $ 532 Present value of expected future policy benefits: Balance at December 31, 2023 $ 50,161 $ 25,257 $ 29,731 $ 5,178 $ 3,109 $ 2,422 $ 11,290 $ 1,943 $ 478 $ 1,764 $ 798 Beginning balance at original discount rate 43,626 25,023 30,256 5,444 3,302 2,541 12,120 2,076 506 1,971 769 Effect of changes in cash flow assumptions 0 0 0 0 0 0 0 0 0 0 0 Effect of actual variances from expected (105) (97) (46) (14) 0 (11) (84) (13) (9) (25) 11 Adjusted beginning of period balance 43,521 24,926 30,210 5,430 3,302 2,530 12,036 2,063 497 1,946 780 Issuances 448 199 107 12 179 212 336 144 30 121 265 Interest accrual 672 280 287 46 65 49 258 41 10 38 22 Benefit payments (1,357) (497) (827) (97) (259) (229) (460) (154) (29) (57) (42) Foreign currency translation (5,192) (2,983) (3,585) (647) 0 0 0 0 0 0 0 Other 0 0 0 0 (1) 0 0 1 0 0 2 Ending balance at original discount rate 38,092 21,925 26,192 4,744 3,286 2,562 12,170 2,095 508 2,048 1,027 Effect of changes in discount rate assumptions 3,456 (1,230) (1,822) (500) (266) (157) (1,323) (188) (40) (280) (2) Balance at June 30, 2024 41,548 20,695 24,370 4,244 3,020 2,405 10,847 1,907 468 1,768 1,025 Net liability for future policy benefits 26,896 8,576 19,092 3,353 597 744 6,842 789 260 894 493 Less: reinsurance recoverable 3,420 1,247 0 0 0 0 0 0 0 15 1 Net liability for future policy benefits after $ 23,476 $ 7,329 $ 19,092 $ 3,353 $ 597 $ 744 $ 6,842 $ 789 $ 260 $ 879 $ 492 (1) Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments. December 31, 2023 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future net premiums: Balance at December 31, 2022 $ 19,298 $ 16,714 $ 7,485 $ 1,256 $ 2,534 $ 1,635 $ 4,486 $ 1,220 $ 211 $ 724 $ 110 Beginning balance at original discount rate 18,221 16,195 7,284 1,242 2,760 1,775 5,050 1,365 231 799 118 Effect of changes in cash flow assumptions (165) (470) 43 (12) (16) (51) (494) (142) (9) 61 (9) Effect of actual variances from expected (315) (137) (42) (15) (58) (29) (223) (73) (17) (25) (2) Adjusted beginning of period balance 17,741 15,588 7,285 1,215 2,686 1,695 4,333 1,150 205 835 107 Issuances 1,034 418 335 26 323 376 493 249 44 181 169 Interest accrual 412 334 124 20 102 62 179 45 8 31 6 Net premiums collected (1) (1,564) (1,261) (1,017) (112) (473) (390) (580) (247) (39) (137) (17) Foreign currency translation (1,170) (1,038) (469) (80) 0 0 0 0 0 0 0 Other (1) (1) 0 0 (8) (5) (9) (4) (1) (1) 7 Ending balance at original discount rate 16,452 14,040 6,258 1,069 2,630 1,738 4,416 1,193 217 909 272 Effect of changes in discount rate assumptions 1,057 657 230 19 (142) (86) (342) (86) (11) (56) 5 Balance at December 31, 2023 $ 17,509 $ 14,697 $ 6,488 $ 1,088 $ 2,488 $ 1,652 $ 4,074 $ 1,107 $ 206 $ 853 $ 277 Present value of expected future policy benefits: Balance at December 31, 2022 $ 54,766 $ 27,419 $ 31,954 $ 5,582 $ 3,098 $ 2,445 $ 11,489 $ 2,074 $ 488 $ 1,526 $ 622 Beginning balance at original discount rate 47,677 27,566 32,800 5,940 3,391 2,636 12,846 2,300 532 1,778 624 Effect of changes in cash flow assumptions (147) (507) 65 (27) (11) (59) (592) (194) (14) 72 (13) Effect of actual variances from expected (385) (154) (51) (15) (75) (59) (271) (99) (22) (32) (4) Adjusted beginning of period balance 47,145 26,905 32,814 5,898 3,305 2,518 11,983 2,007 496 1,818 607 Issuances 1,059 432 341 32 331 392 505 258 46 185 169 Interest accrual 1,473 608 625 100 127 96 524 84 21 68 33 Benefit payments (2,987) (1,153) (1,415) (206) (464) (465) (893) (274) (59) (105) (48) Foreign currency translation (3,064) (1,769) (2,109) (380) 0 0 0 0 0 0 0 Other 0 0 0 0 3 0 1 1 2 5 8 Ending balance at original discount rate 43,626 25,023 30,256 5,444 3,302 2,541 12,120 2,076 506 1,971 769 Effect of changes in discount rate assumptions 6,535 234 (525) (266) (193) (119) (830) (133) (28) (207) 29 Balance at December 31, 2023 50,161 25,257 29,731 5,178 3,109 2,422 11,290 1,943 478 1,764 798 Net liability for future policy benefits 32,652 10,560 23,243 4,090 621 770 7,216 836 272 911 521 Less: reinsurance recoverable 4,135 1,521 0 0 0 0 0 0 0 15 0 Net liability for future policy benefits after $ 28,517 $ 9,039 $ 23,243 $ 4,090 $ 621 $ 770 $ 7,216 $ 836 $ 272 $ 896 $ 521 (1) Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments. The following tables present the weighted-average interest rates and weighted-average liability duration (calculated using the original discount rate) by reporting segment and disaggregated by product type. June 30, 2024 Aflac Japan Aflac U.S. Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Weighted-average interest, original discount rate (1) 3.9 % 2.5 % 2.1 % 1.8 % 3.9 % 4.3 % 4.5 % 4.5 % 4.3 % 3.8 % 5.4 % Weighted-average interest, current discount rate (1) 2.2 % 2.7 % 2.0 % 2.4 % 5.4 % 5.3 % 5.4 % 5.4 % 5.4 % 5.4 % 5.4 % Weighted-average liability duration (years) 13.0 24.4 16.1 17.0 8.0 5.6 11.2 9.2 7.8 13.7 9.1 (1) The weighted-average interest rates are calculated using the reserve balances as the weights. No adjustments were made to observable market information. December 31, 2023 Aflac Japan Aflac U.S. Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Weighted-average interest, original discount rate (1) 3.9 % 2.6 % 2.1 % 1.8 % 3.9 % 4.2 % 4.6 % 4.4 % 4.3 % 3.7 % 5.4 % Weighted-average interest, current discount rate (1) 1.8 % 2.3 % 1.7 % 2.1 % 5.3 % 5.3 % 5.3 % 5.3 % 5.3 % 5.3 % 5.3 % Weighted-average liability duration (years) 13.1 24.9 16.3 17.3 8.1 5.6 11.3 9.3 7.9 13.6 9.4 (1) The weighted-average interest rates are calculated using the reserve balances as the weights. No adjustments were made to observable market information. The following table presents a reconciliation of the disaggregated rollforwards above to the ending future policy benefits presented in the consolidated balance sheets. The deferred profit liability for limited-payment contracts and the deferred reinsurance gain liability are presented together with the liability for future policy benefits in the consolidated balance sheets and have been included as reconciling items in the table below. (In millions) June 30, December 31, 2023 Balances included in future policy benefits rollforward: Aflac Japan Cancer $ 26,896 $ 32,652 Medical and other health 8,576 10,560 Life insurance 19,092 23,243 Other 3,353 4,090 Aflac U.S. Accident 597 621 Disability 744 770 Critical care 6,842 7,216 Hospital indemnity 789 836 Dental/vision 260 272 Life insurance 894 911 Other 493 521 Corporate and other 3,405 4,225 Deferred profit liability 1,667 1,806 Deferred reinsurance gain liability 820 1,012 Intercompany eliminations (1) (4,089) (5,017) Total $ 70,339 $ 83,718 (1) Elimination entry necessary due to the internal reinsurance transactions with Aflac Re and to recapture a portion of policy liabilities ceded externally as a result of the reinsurance retrocession transaction. See Note 8 of the Notes to the Consolidated Financial Statements in the 2023 Annual Report. Discount rates are determined using upper-medium grade (low-credit-risk) fixed-income instrument yields that reflect the duration characteristics of the liability. Locked-in discount rates are determined separately for each issue-year cohort as a single discount rate, calculated as the weighted-average of monthly upper-medium grade (low-credit-risk) fixed-income instrument forward curves in the calendar year, where the weights are the annualized premiums issued for each month of the cohort. The single discount rate for each issue-year cohort is determined by solving for a rate that produces an equivalent NPR to the forward curve and will remain unchanged after the calendar year of issue. Discount rates are updated each reporting period and require estimation techniques (e.g., interpolation, extrapolation) for determination of points on the curve for which there is limited or no observable market data. The Company constructs a current discount rate curve separately for discounting cash flows used to calculate each of the Japan and U.S. liabilities for future policy benefits, reflective of the characteristics of the corresponding insurance liabilities, such as currency and tenor. In the Aflac Japan segment, all long-duration insurance policies are denominated in yen. A significant portion of policies are characterized by tenors exceeding the availability of liquid market data in Japan for single-A rated (as a proxy for upper-medium grade) corporate yen-denominated debt. The discount rate curve is designed to prioritize the observable inputs where available, while past the last liquid point, the data is derived based on estimation techniques consistent with the fair value guidance in ASC 820. The Aflac Japan segment curve utilizes liquid market indices tracking publicly traded yen-denominated single-A corporate debt for the initial 10-year tenor. For the bonds within these market indices where only local ratings are available, the Company prioritizes the bonds with local ratings that are equivalent to a single-A rating based on international rating standards. For the discount rates applicable to tenors for which the Japan single-A debt market is not liquid but there is sufficient observable market data and/or the observable market data is available for similar instruments (between 10 and 30 years), the Company estimates tenor-specific single-A credit spreads and applies them to risk-free government rates. Lastly, for the tenors where there is limited or no observable single-A or similar market data or risk-free government rates (beyond 30 years), the discount curve is derived by extrapolation of risk free rates beyond their last liquid point following the Smith-Wilson method and grading of the estimated forward credit spread anchored by the ultimate forward rate. The ultimate forward rate is based on the economic value-based solvency regime, which is consistent with the International Association of Insurance Supervisors (IAIS) Insurance Capital Standards (ICS) (which is expected to be introduced in Japan in 2025), and is adjusted for credit and inflation components. For the Aflac U.S. segment where all long-duration insurance policies are denominated in U.S. dollar and substantially all have cash flow duration within 30 years, for which the U.S. upper-medium grade fixed-income market is liquid and observable, the Company uses data from a liquid fixed-income market index tracking single-A U.S. corporate debt. For the insignificant portion of the policies with cash flow tenors exceeding 30 years, the discount curve beyond that tenor is extrapolated following the Smith-Wilson method from year 30 to the same ultimate forward rate calculated for the Japan discount curve at year 60 and held constant thereafter. The use of the same ultimate rate for U.S. and Japan segments is based on the assumption of long-term global economic convergence. For the three-month periods ended June 30, 2024 and 2023, the Company recognized $2.9 billion and $(165) million in other comprehensive income (loss) net of tax, respectively, due to changes in the future policy benefits estimate from updating the discount rate assumptions. For the six-month periods ended June 30, 2024 and 2023, the Company recognized $4.0 billion and $(3.0) billion in other comprehensive income (loss) net of tax, respectively, due to changes in the future policy benefits estimate from updating the discount rate assumptions. There were no changes to the methods used to determine the discount rates during the six-month periods ended June 30, 2024 and 2023. For the year ended December 31, 2023, the Company recognized approximately $(460) million in other comprehensive income (loss) net of tax, due to changes in the future policy benefits estimate from updating the discount rate assumptions. There were no changes to the methods used to determine the discount rates during the year ended December 31, 2023. Mortality rate assumptions are based on industry tables and adjusted for the Company's actual or expected experience where credible or appropriate. These assumptions typically vary by age, gender, and other demographic characteristics such as smoking status. Morbidity assumptions are based on the Company's internal data and consider emerging experience. These assumptions are reflective of the coverage and benefits provided and generally vary by age, gender, duration, and any other material policyholder characteristics. In cases where a calendar-year trend is significant, future cash flow projections may include a trend adjustment. In Japan, separate lapse assumptions are set based on actual or expected experience. These lapse and total termination rate assumptions vary by line of business and with policyholder characteristics such as duration. In the U.S., the majority of the future cash flows are modeled using total termination rates (which include both lapse and mortality) and are adjusted for actual experience. Policy provisions, such as reaching premium paid-up status, are taken into account when setting assumptions. For the three- and six-month periods ended June 30, 2024 and 2023, the variance of actual experience from expected experience was primarily due to favorable variances in morbidity assumptions as compared to actual experience. There were no changes to the inputs, judgments, assumptions and methods used in measuring the liability for future policy benefits during the six-month periods ended June 30, 2024 and 2023. In 2023, the Company's annual assumption review process resulted in favorable changes to its morbidity and termination assumptions, largely due to reflecting more recent favorable U.S. morbidity experience. The following table summarizes the amount of net earned premiums recognized in the consolidated statements of earnings by reporting segment and disaggregated by product type. Three Months Ended June 30, Six Months Ended June 30, (In millions) 2024 2023 2024 2023 Net earned premiums: Aflac Japan Cancer $ 832 $ 1,054 $ 1,710 $ 2,149 Medical and other health 570 672 1,175 1,377 Life insurance 316 390 655 812 Other 35 38 69 77 Aflac U.S. Accident 316 322 641 652 Disability 332 318 665 627 Critical care 441 439 885 882 Hospital indemnity 182 182 367 367 Dental/vision 46 53 105 107 Life insurance 141 115 279 228 Other 25 9 45 19 Corporate and other 155 84 320 175 Reinsurance ceded (66) (103) (135) (210) Total $ 3,325 $ 3,573 $ 6,781 $ 7,262 The following table summarizes the amount of interest expense related to insurance contracts recognized in total benefits and claims, net in the consolidated statements of earnings by reporting segment and disaggregated by product type. Three Months Ended June 30, Six Months Ended June 30, (In millions) 2024 2023 2024 2023 Interest expense: Aflac Japan Cancer $ 237 $ 276 $ 483 $ 561 Medical and other health 66 72 131 143 Life insurance 114 130 232 263 Other 18 20 37 42 Aflac U.S. Accident 7 6 13 12 Disability 8 10 16 18 Critical care 86 86 171 173 Hospital indemnity 10 10 19 20 Dental/vision 3 3 6 6 Life insurance 10 10 20 19 Other 6 6 13 13 Total $ 565 $ 629 $ 1,141 $ 1,270 The following tables summarize the amount of undiscounted expected future gross premiums and expected future policy benefits and expenses and discounted (discounted at the current period discount rate) expected future gross premiums and expected future policy benefits and expenses by reporting segment and disaggregated by product type. These tables are presented gross of internal and external ceded reinsurance. Future gross premiums represent the expected amount of future premiums to be received. For limited-payment policies, the premiums are collected over a shorter period than the policy term over which benefits are provided. As a result, once the policy reaches premium paid-up status, the future gross premiums can be significantly less than the future benefit payments. Further, benefits and expenses are generally greater in the later years of a policy. These are the primary factors that result in future gross premiums lower than future benefit and expense payments for certain lines of business of the Company. June 30, 2024 December 31, 2023 (In millions) Gross Benefits and Expenses Gross Premiums Benefits and Expenses Undiscounted expected future gross premiums and expected future policy benefits and expenses: Aflac Japan Cancer $ 51,506 $ 57,838 $ 59,169 $ 66,427 Medical and other health 33,233 34,968 38,583 39,884 Life insurance 10,707 36,842 12,677 42,541 Other 1,523 6,467 1,781 7,448 Aflac U.S. Accident 9,047 4,533 9,095 4,548 Disability 5,811 3,213 5,776 3,177 Critical care 19,966 20,670 19,886 20,626 Hospital indemnity 4,964 3,055 4,922 3,025 Dental/vision 1,154 729 1,162 726 Life insurance 2,865 3,432 2,719 3,260 Other 1,352 1,816 724 1,396 Total $ 142,128 $ 173,563 $ 156,494 $ 193,058 June 30, 2024 December 31, 2023 (In millions) Gross Premiums Benefits and Expenses Gross Premiums Benefits and Expenses Discounted expected future gross premiums and expected future policy benefits and expenses: Aflac Japan Cancer $ 40,474 $ 41,548 $ 48,363 $ 50,161 Medical and other health 25,392 20,695 30,757 25,257 Life insurance 9,226 24,370 11,240 29,731 Other 1,250 4,244 1,512 5,178 Aflac U.S. Accident 6,184 3,020 6,369 3,109 Disability 4,434 2,405 4,488 2,422 Critical care 12,076 10,847 12,417 11,290 Hospital indemnity 3,369 1,907 3,419 1,943 Dental/vision 780 468 807 478 Life insurance 1,968 1,768 1,914 1,764 Other 826 1,025 467 798 Total $ 105,979 $ 112,297 $ 121,753 $ 132,131 Loss expense as a result of NPR capping for the three- and six-month periods ended June 30, 2024 and 2023 was immaterial. Other Policyholders' Funds As of June 30, 2024 and December 31, 2023, the largest component of the other policyholders' funds liability was the Company's annuity line of business in Aflac Japan. The Company's annuities have fixed benefits and premiums. The following table presents the changes in other policyholders’ funds. (In millions) June 30, December 31, Other policyholders' funds: Fixed annuities account balance, beginning of period (1) $ 5,939 $ 6,423 Premiums received 51 126 Transfers from WAYS conversions 116 229 Surrenders and withdrawals (31) (59) Benefit payments (208) (419) Interest credited 24 53 Foreign currency translation and other (711) (414) Fixed annuities account balance, end of period 5,180 5,939 Other deposit type reserves 259 230 Total $ 5,439 $ 6,169 (1) Aflac Japan fixed annuities The following table presents other policyholders’ funds balances by range of guaranteed crediting rates. June 30, 2024 December 31, 2023 (In millions) Range of Guaranteed Minimum Crediting Rates (2) At Guaranteed Minimum Cash Surrender Value Range of Guaranteed Minimum Crediting Rates (2) At Guaranteed Minimum Cash Surrender Value Fixed annuities (1) 0.5% - 2.2% $5,180 $5,106 0.5% - 2.3% $5,939 $5,850 (1) Aflac Japan fixed annuities (2) Weighted-average crediting rate of 1.5% at June 30, 2024 and December 31, 2023. Aflac Japan’s fixed annuities have guaranteed fixed crediting rates which results in the policyholders' funds balances being able to cover all guaranteed benefit amounts. The reserves are adequate to fully fund future benefits at any given time. For additional information on policy liabilities, see Notes 1 and 7 of the Notes to the Consolidated Financial Statements in the 2023 Annual Report.

REINSURANCE

REINSURANCE	6 Months Ended
	Jun. 30, 2024
Reinsurance Disclosures [Abstract]
REINSURANCE	REINSURANCE The Company periodically enters into fixed quota-share coinsurance agreements in the normal course of business, primarily to provide additional capacity for future growth, optimize capital, limit losses, and minimize exposure to significant risks. For each of its reinsurance agreements, the Company determines whether the agreement provides indemnification against loss or liability relating to insurance risk in accordance with applicable accounting standards. For additional information on reinsurance, see Notes 1 and 8 of the Notes to the Consolidated Financial Statements in the 2023 Annual Report. The following table reconciles direct earned premiums, direct benefits and claims, excluding reserve remeasurement gains and losses, and reserve remeasurement gains and losses to net amounts after the effect of reinsurance. Three Months Ended June 30, Six Months Ended June 30, (In millions) 2024 2023 2024 2023 Direct earned premiums $ 3,352 $ 3,623 $ 6,834 $ 7,361 Ceded to other companies: Ceded Aflac Japan closed blocks (31) (80) (65) (165) Other (35) (23) (70) (45) Assumed from other companies: Retrocession activities 27 30 56 64 Other 12 23 26 47 Net earned premiums $ 3,325 $ 3,573 $ 6,781 $ 7,262 Direct benefits and claims, excluding reserve remeasurement $ 1,995 $ 2,182 $ 4,077 $ 4,438 Ceded benefits and change in reserves for future benefits: Ceded Aflac Japan closed blocks (17) (74) (35) (151) Other (19) 6 (33) (21) Assumed from other companies: Retrocession activities 12 20 25 61 Other 1 18 5 27 Benefits and claims, excluding reserve remeasurement $ 1,972 $ 2,152 $ 4,039 $ 4,354 Direct reserve remeasurement (gains) losses $ (51) $ (54) $ (108) $ (107) Ceded reserve remeasurement gains (losses) 0 0 1 0 Assumed reserve remeasurement (gains) losses 0 0 0 0 Reserve remeasurement (gains) losses $ (51) $ (54) $ (107) $ (107) Total benefits and claims, net $ 1,921 $ 2,098 $ 3,932 $ 4,247 The Company has recorded a deferred reinsurance gain liability related to reinsurance transactions which represents ceded reserves in excess of consideration paid, or consideration received in excess of assumed reserves. The remaining consolidated deferred reinsurance gain liability of $148 million and $175 million as of June 30, 2024 and December 31, 2023, respectively, is included in future policy benefits in the consolidated balance sheets and is being amortized into income over the expected lives of the policies. The Company has also recorded a reinsurance recoverable for reinsurance transactions. The reinsurance recoverable, which is included in other assets in the consolidated balance sheets, is reported net of allowance for credit losses and had a remaining balance of $162 million and $183 million as of June 30, 2024 and December 31, 2023, respectively. The allowance for credit losses related to the Company's reinsurance recoverable balance was $3 million and $10 million as of June 30, 2024 and December 31, 2023, respectively. The credit allowance for the reinsurance recoverable balance is estimated using a PD / LGD method and the key credit quality indicator is the credit rating of the Company’s reinsurance counterparty. The Company uses external credit ratings focused on the reinsurer’s financial strength and credit worthiness. As of June 30, 2024, the Company's reinsurance counterparties were rated A+. The Company monitors the credit ratings periodically, but not less frequently than quarterly. These reinsurance transactions are indemnity reinsurance that do not relieve the Company from its obligations to policyholders. In the event that the reinsurer is unable to meet its obligations, the Company remains liable for the reinsured claims. Internal Reinsurance Transactions Aflac Re is a Bermuda domiciled insurer that reinsures certain policies issued by ALIJ. The inter-segment amounts associated with these internal reinsurance transactions are eliminated in consolidation.

NOTES PAYABLE AND LEASE OBLIGAT

NOTES PAYABLE AND LEASE OBLIGATIONS	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
NOTES PAYABLE AND LEASE OBLIGATIONS	NOTES PAYABLE AND LEASE OBLIGATIONS A summary of notes payable and lease obligations follows: (In millions) June 30, December 31, 1.125% senior sustainability notes due March 2026 $ 399 $ 398 2.875% senior notes due October 2026 299 299 3.60% senior notes due April 2030 993 993 6.90% senior notes due December 2039 221 221 6.45% senior notes due August 2040 255 254 4.00% senior notes due October 2046 394 394 4.750% senior notes due January 2049 542 542 Yen-denominated senior notes and subordinated debentures: .300% senior notes due September 2025 (principal amount ¥12.4 billion) 77 87 .932% senior notes due January 2027 (principal amount ¥60.0 billion) 371 422 1.048% senior notes due March 2029 (principal amount ¥13.0 billion) 80 0 1.075% senior notes due September 2029 (principal amount ¥33.4 billion) 207 234 .500% senior notes due December 2029 (principal amount ¥12.6 billion) 78 88 .550% senior notes due March 2030 (principal amount ¥13.3 billion) 82 93 1.159% senior notes due October 2030 (principal amount ¥29.3 billion) 181 206 1.412% senior notes due March 2031 (principal amount ¥27.9 billion) 172 0 .633% senior notes due April 2031 (principal amount ¥30.0 billion) 186 211 .843% senior notes due December 2031 (principal amount ¥9.3 billion) 57 65 .750% senior notes due March 2032 (principal amount ¥20.7 billion) 128 145 1.320% senior notes due December 2032 (principal amount ¥21.1 billion) 130 148 .844% senior notes due April 2033 (principal amount ¥12.0 billion) 74 84 1.488% senior notes due October 2033 (principal amount ¥15.2 billion) 94 106 1.682% senior notes due March 2034 (principal amount ¥7.7 billion) 48 0 1.600% senior notes due March 2034 (principal amount ¥18.3 billion) 112 0 .934% senior notes due December 2034 (principal amount ¥9.8 billion) 60 69 .830% senior notes due March 2035 (principal amount ¥10.6 billion) 65 74 1.740% senior notes due March 2036 (principal amount ¥15.0 billion) 92 0 1.039% senior notes due April 2036 (principal amount ¥10.0 billion) 61 70 1.594% senior notes due September 2037 (principal amount ¥6.5 billion) 40 45 1.750% senior notes due October 2038 (principal amount ¥8.9 billion) 55 62 1.920% senior notes due March 2039 (principal amount ¥16.5 billion) 101 0 1.122% senior notes due December 2039 (principal amount ¥6.3 billion) 39 44 1.264% senior notes due April 2041 (principal amount ¥10.0 billion) 62 70 2.160% senior notes due March 2044 (principal amount ¥5.7 billion) 35 0 2.108% subordinated debentures due October 2047 (principal amount ¥60.0 billion) 368 419 .963% subordinated bonds paid April 2024 (principal amount ¥30.0 billion) 0 211 1.560% senior notes due April 2051 (principal amount ¥20.0 billion) 123 140 2.144% senior notes due September 2052 (principal amount ¥12.0 billion) 74 84 1.958% subordinated bonds due December 2053 (principal amount ¥30.0 billion) 185 210 2.400% senior notes due March 2054 (principal amount ¥19.5 billion) 119 0 Yen-denominated loans: Variable interest rate loan due August 2027 (.55% in 2024 and .35% in 2023, principal amount ¥11.7 billion) 73 82 Variable interest rate loan due August 2029 (.65% in 2024 and .45% in 2023, principal amount ¥25.3 billion) 157 178 Variable interest rate loan due August 2032 (.80% in 2024 and .60% in 2023, principal amount ¥70.0 billion) 433 492 Finance lease obligations payable through 2030 5 6 Operating lease obligations payable through 2049 103 118 Total notes payable and lease obligations $ 7,430 $ 7,364 Amounts in the table above are reported net of debt issuance costs and issuance premiums or discounts, if applicable, that are being amortized over the life of the notes. In April 2024, ALIJ redeemed ¥30.0 billion of its .963% subordinated bonds due April 2049. In March 2024, the Parent Company issued five series of senior notes totaling ¥75.0 billion through a private placement. The first series, which totaled ¥18.3 billion, bears interest at a fixed rate of 1.600% per annum, payable semi-annually, and will mature in March 2034. The second series, which totaled ¥15.0 billion, bears interest at a fixed rate of 1.740% per annum, payable semi-annually, and will mature in March 2036. The third series, which totaled ¥16.5 billion, bears interest at a fixed rate of 1.920% per annum, payable semi-annually, and will mature in March 2039. The fourth series, which totaled ¥5.7 billion, bears interest at a fixed rate of 2.160% per annum, payable semi-annually, and will mature in March 2044. The fifth series, which totaled ¥19.5 billion, bears interest at a fixed rate of 2.400% per annum, payable semi-annually, and will mature in March 2054. These notes are redeemable at the Parent Company's option (i) in whole at any time or (ii) in part from time to time in an amount not less than 5% of the aggregate principal amount then outstanding of the notes to be redeemed. In March 2024, the Parent Company issued three series of senior notes totaling ¥48.6 billion through a public debt offering under its U.S. shelf registration statement. The first series, which totaled ¥13.0 billion, bears interest at a fixed rate of 1.048% per annum, payable semi-annually, and will mature in March 2029. The second series, which totaled ¥27.9 billion, bears interest at a fixed rate of 1.412% per annum, payable semi-annually, and will mature in March 2031. The third series, which totaled ¥7.7 billion, bears interest at a fixed rate of 1.682% per annum, payable semi-annually, and will mature in March 2034. These notes are redeemable at the Parent Company’s option at any time, in whole but not in part, upon the occurrence of certain changes affecting U.S. taxation, as specified in the indenture governing the terms of the issuance. In addition, the notes maturing in March 2029, March 2031 and March 2034 are redeemable at the Parent Company's option, in whole or in part from time to time, on or after December 21, 2028, December 31, 2030 and September 21, 2033, respectively, at a redemption price equal to the aggregate principal amount of the applicable series to be redeemed plus accrued and unpaid interest on the principal amount to be redeemed to, but excluding, the date of redemption. Interest expense related to the Company's notes payable, which is included in interest expense in the consolidated statements of earnings, was $49 million and $50 million for the three-month periods and $96 million for each of the six-month periods ended June 30, 2024 and 2023, respectively. A summary of the Company's lines of credit as of June 30, 2024 follows: Borrower(s) Type Term Expiration Date Capacity Amount Outstanding Interest Rate on Borrowed Amount Maturity Period Commitment Fee Business Purpose Aflac Incorporated uncommitted bilateral 364 days December 6, 2024 $100 million $0 million The rate quoted by the bank and agreed upon at the time of borrowing Up to 3 months None General corporate purposes Aflac Incorporated unsecured revolving 5 years May 9, ¥100.0 billion ¥0.0 billion A rate per annum equal to (a) Tokyo Interbank Market Rate (TIBOR) plus, the alternative applicable TIBOR margin during the availability period from the closing date to the commitment termination date or (b) the TIBOR rate offered by the agent to major banks in yen for the applicable period plus, the applicable alternative TIBOR margin during the term out period No later than .28% to .45%, depending on the Parent Company's debt ratings as of the date of determination General corporate purposes, including a capital contingency plan for the operations of the Parent Company Aflac Incorporated unsecured revolving 5 years November 15, 2027, or the date commitments are terminated pursuant to an event of default $1.0 billion $0.0 billion A rate per annum equal to, at the Company's option, either, (a) Secured Overnight Financing Rate (SOFR) for U.S. dollar-denominated borrowings or TIBOR for Japanese yen-denominated borrowings, in either case adjusted for certain costs, or (b) a base rate determined by reference to the highest of (1) the federal funds rate plus 1/2 of 1%, (2) the rate of interest for such day announced by the agent as its prime rate, or (3) SOFR for an interest period of one month plus 1.00%, in each case plus an applicable margin No later than November 15, 2027 .08% to .20%, depending on the Parent Company's debt ratings as of the date of determination General corporate purposes, including a capital contingency plan for the operations of the Parent Company Aflac Incorporated uncommitted bilateral None specified None specified $50 million $0 million A rate per annum equal to, at the Parent Company's option, either (a) a rate determined by reference to SOFR for the interest period relevant to such borrowing or (b) the base rate determined by reference to the highest of (1) the lender's USD short-term commercial loan rate and (2) the federal funds rate plus 1/2 of 1% Up to 3 months None General corporate purposes Aflac (1) uncommitted revolving 364 days December 2, 2024 $250 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum No later than December 3, 2024 None General corporate purposes Aflac Incorporated (1) (Tranche 1) uncommitted revolving 364 days November 25, 2024 ¥50.0 billion ¥0.0 billion Three-month yen TIBOR plus 75 basis points per annum No later than November 26, 2024 None General corporate purposes Aflac Incorporated (1) (Tranche 2) uncommitted revolving 364 days November 25, 2024 ¥50.0 billion ¥0.0 billion Three-month yen TIBOR plus 75 basis points per annum No later than November 26, 2024 None General corporate purposes Aflac New York (1) uncommitted revolving 364 days December 2, $25 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum No later than None General corporate purposes CAIC (1) uncommitted revolving 364 days December 2, $15 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum No later than None General corporate purposes (1) Intercompany credit agreement (continued) Borrower(s) Type Term Expiration Date Capacity Amount Outstanding Interest Rate on Borrowed Amount Maturity Period Commitment Fee Business Purpose TOIC (1) uncommitted revolving 364 days December 2, $0.3 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum No later than None General corporate purposes Aflac GI Holdings LLC (1) uncommitted revolving 364 days December 2, $30 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum No later than None General corporate purposes Aflac Incorporated (1) uncommitted revolving 364 days December 2, $400 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 97 basis points per annum for U.S. dollar-denominated borrowings or three-month TIBOR plus 97 basis points per annum for Japanese yen-denominated borrowings No later than None General corporate purposes Aflac Re (1) uncommitted revolving 364 days December 2, $400 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 68 basis points per annum for U.S. dollar-denominated borrowings or three-month TIBOR plus 68 basis points per annum for Japanese yen-denominated borrowings No later than None General corporate purposes Aflac Asset Management LLC (1) uncommitted revolving 214 days December 2, $25 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 68 basis points per annum for U.S. dollar-denominated borrowings or three-month TIBOR plus 68 basis points per annum for Japanese yen-denominated borrowings No later than None General corporate purposes Aflac Global Ventures LLC (1) uncommitted revolving 214 days December 2, $2 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 68 basis points per annum for U.S. dollar-denominated borrowings or three-month TIBOR plus 68 basis points per annum for Japanese yen-denominated borrowings No later than None General corporate purposes (1) Intercompany credit agreement The Company was in compliance with all of the covenants of its notes payable and lines of credit at June 30, 2024. No events of default or defaults occurred during the six-month period ended June 30, 2024. For additional information, see Notes 4 and 9 of the Notes to the Consolidated Financial Statements in the 2023 Annual Report.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS’ EQUITY The following table is a reconciliation of the number of shares of the Company's common stock for the six-month periods ended June 30. (In thousands of shares) 2024 2023 Common stock - issued: Balance, beginning of period 1,355,398 1,354,079 Exercise of stock options and issuance of restricted shares 1,220 1,148 Balance, end of period 1,356,618 1,355,227 Treasury stock: Balance, beginning of period 776,919 738,823 Purchases of treasury stock: Share repurchase program 18,564 20,809 Other 480 354 Dispositions of treasury stock: Shares issued to AFL Stock Plan (430) (498) Exercise of stock options (98) (52) Other (186) (178) Balance, end of period 795,249 759,258 Shares outstanding, end of period 561,369 595,969 Outstanding share-based awards are excluded from the calculation of weighted-average shares used in the computation of basic earnings per share (EPS). The following table presents the approximate number of share-based awards to purchase shares, on a weighted-average basis, that were considered to be anti-dilutive and were excluded from the calculation of diluted EPS for the following periods. Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2024 2023 2024 2023 Anti-dilutive share-based awards 0 39 35 102 Share Repurchase Program During the first six months of 2024, the Company repurchased 18.6 million shares of its common stock for $1.6 billion as part of its share repurchase program. During the first six months of 2023, the Company repurchased 20.8 million shares of its common stock for $1.4 billion as part of its share repurchase program. As of June 30, 2024, a remaining balance of 59.2 million shares of the Company's common stock was available for purchase under share repurchase authorizations by its board of directors. Reclassifications from Accumulated Other Comprehensive Income The tables below are reconciliations of accumulated other comprehensive income by component for the following periods. Changes in Accumulated Other Comprehensive Income Three Months Ended June 30, 2024 (In millions) Unrealized Foreign Unrealized Unrealized Effect of Changes in Discount Rate Assumptions Pension Total Balance at March 31, 2024 $ (4,666) $ 1,092 $ (26) $ (1,495) $ (7) $ (5,102) Other comprehensive (425) (652) 3 2,920 3 1,849 Amounts reclassified from 0 (39) 1 0 (1) (39) Net current-period other (425) (691) 4 2,920 2 1,810 Balance at June 30, 2024 $ (5,091) $ 401 $ (22) $ 1,425 $ (5) $ (3,292) All amounts in the table above are net of tax. Three Months Ended June 30, 2023 (In millions) Unrealized Foreign Unrealized Unrealized Effect of Changes in Discount Rate Assumptions Pension Liability Adjustment Total Balance at March 31, 2023 $ (3,618) $ 1,289 $ (26) $ (4,894) $ (29) $ (7,278) Other comprehensive (631) 710 0 (165) 45 (41) Amounts reclassified from 0 (21) 1 0 1 (19) Net current-period other (631) 689 1 (165) 46 (60) Balance at June 30, 2023 $ (4,249) $ 1,978 $ (25) $ (5,059) $ 17 $ (7,338) All amounts in the table above are net of tax. Six Months Ended June 30, 2024 (In millions) Unrealized Foreign Unrealized Unrealized Effect of Changes in Discount Rate Assumptions Pension Total Balance at December 31, 2023 $ (4,069) $ 1,139 $ (22) $ (2,560) $ (8) $ (5,520) Other comprehensive (1,022) (566) (2) 3,985 4 2,399 Amounts reclassified from 0 (172) 2 0 (1) (171) Net current-period other (1,022) (738) 0 3,985 3 2,228 Balance at June 30, 2024 $ (5,091) $ 401 $ (22) $ 1,425 $ (5) $ (3,292) All amounts in the table above are net of tax. Six Months Ended June 30, 2023 (In millions) Unrealized Foreign Unrealized Unrealized Effect of Changes in Discount Rate Assumptions Pension Liability Adjustment Total Balance at December 31, 2022 $ (3,564) $ (702) $ (27) $ (2,100) $ (36) $ (6,429) Other comprehensive (685) 2,746 1 (2,959) 52 (845) Amounts reclassified from 0 (66) 1 0 1 (64) Net current-period other (685) 2,680 2 (2,959) 53 (909) Balance at June 30, 2023 $ (4,249) $ 1,978 $ (25) $ (5,059) $ 17 $ (7,338) All amounts in the table above are net of tax. The tables below summarize the amounts reclassified from each component of accumulated other comprehensive income into net earnings for the following periods. Reclassifications Out of Accumulated Other Comprehensive Income (In millions) Three Months Ended June 30, 2024 Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Unrealized gains (losses) on available-for-sale $ 50 Net investment gains (losses) (11) Tax (expense) or benefit (1) $ 39 Net of tax Unrealized gains (losses) on derivatives $ (1) Net investment gains (losses) 0 Tax (expense) or benefit (1) $ (1) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ 1 Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 0 Tax (expense) or benefit (1) $ 1 Net of tax Total reclassifications for the period $ 39 Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 12 for additional details). (In millions) Three Months Ended June 30, 2023 Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Unrealized gains (losses) on available-for-sale $ 27 Net investment gains (losses) (6) Tax (expense) or benefit (1) $ 21 Net of tax Unrealized gains (losses) on derivatives $ (1) Net investment gains (losses) 0 Tax (expense) or benefit (1) $ (1) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (1) Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 0 Tax (expense) or benefit (1) $ (1) Net of tax Total reclassifications for the period $ 19 Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 12 for additional details). (In millions) Six Months Ended June 30, 2024 Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Unrealized gains (losses) on available-for-sale $ 218 Net investment gains (losses) (46) Tax (expense) or benefit (1) $ 172 Net of tax Unrealized gains (losses) on derivatives $ (2) Net investment gains (losses) 0 Tax (expense) or benefit (1) $ (2) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ 1 Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 0 Tax (expense) or benefit (1) $ 1 Net of tax Total reclassifications for the period $ 171 Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 12 for additional details). (In millions) Six Months Ended June 30, 2023 Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Unrealized gains (losses) on available-for-sale $ 84 Net investment gains (losses) (18) Tax (expense) or benefit (1) $ 66 Net of tax Unrealized gains (losses) on derivatives $ (1) Net investment gains (losses) 0 Tax (expense) or benefit (1) $ (1) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (1) Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 0 Tax (expense) or benefit (1) $ (1) Net of tax Total reclassifications for the period $ 64 Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 12 for additional details).

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION As of June 30, 2024, the Company has outstanding share-based awards under the Aflac Incorporated Long-Term Incentive Plan (As Amended and Restated February 14, 2017), as further amended on August 9, 2022 (the Plan). Share-based awards are designed to reward employees for their long-term contributions to the Company and provide incentives for them to remain with the Company. The number and frequency of share-based awards are based on competitive practices, operating results of the Company, government regulations, and other factors. The Plan allows for a maximum number of shares issuable over its term of 75 million shares including 38 million shares that may be awarded in respect of awards other than options or stock appreciation rights. If any awards granted under the Plan are forfeited or are terminated before being exercised or settled for any reason other than tax forfeiture, then the shares underlying the awards will again be available under the Plan. The Plan allows awards to Company employees for incentive stock options (ISOs), non-qualifying stock options (NQSOs), restricted stock, restricted stock units, and stock appreciation rights. Non-employee directors are eligible for grants of NQSOs, restricted stock, and stock appreciation rights. As of June 30, 2024, approximately 33.6 million shares were available for future grants under this plan. The ISOs and NQSOs have a term of 10 years, and the share-based awards generally vest upon time-based conditions or time and performance-based conditions. Time-based vesting generally occurs after three years. Performance-based vesting conditions generally include the attainment of goals related to Company financial performance. As of June 30, 2024, the only performance-based awards issued and outstanding were restricted stock awards and units. Stock options and stock appreciation rights granted under the amended Plan have an exercise price of at least the fair market value of the underlying stock on the grant date and have an expiration date no later than 10 years from the grant date. Time-based restricted stock awards, restricted stock units and stock options generally vest on a ratable basis over three years. The Compensation Committee of the Board of Directors has the discretion to determine vesting schedules. Share-based awards granted to U.S.-based grantees are settled with authorized but unissued Company stock, while those issued to Japan-based grantees are settled with treasury shares. The following table provides information on stock options outstanding and exercisable at June 30, 2024. Stock Weighted-Average Aggregate Weighted-Average Outstanding 744 2.0 $ 42 $ 33.54 Exercisable 744 2.0 42 33.54 The Company received cash from the exercise of stock options in the amount of $9 million and $10 million during the first six months of 2024 and 2023, respectively. The tax benefit realized as a result of stock option exercises and restricted stock releases was $27 million in the first six months of 2024, compared with $19 million in the first six months of 2023. As of June 30, 2024, total compensation cost not yet recognized in the Company's consolidated financial statements related to restricted stock awards and units was $60 million, of which $31 million (1.8 million shares) was related to restricted stock awards and units with a performance-based vesting condition. The Company expects to recognize these amounts over a weighted-average period of approximately 1.8 years. There are no other contractual terms covering restricted stock awards once vested. The following table summarizes restricted stock activity during the six-month period ended June 30, 2024. (In thousands of shares) Shares Weighted-Average Restricted stock at December 31, 2023 2,308 $ 62.96 Granted in 2024 1,254 79.99 Canceled in 2024 (17) 69.33 Vested in 2024 (1,421) 46.83 Restricted stock at June 30, 2024 2,124 $ 73.04 In February 2024, the Company granted 303 thousand performance-based stock awards and units, which are contingent on the achievement of the Company's financial performance metrics and its market-based conditions. On the date of grant, the Company estimated the fair value of restricted stock awards and units with market-based conditions using a Monte Carlo simulation model. The model discounts the value of the stock at the assumed vesting date based on the risk-free interest rate. Based on estimates of actual performance versus the vesting thresholds, the calculated fair value percentage payout estimate will be updated each quarter. The Company uses third-party analyses to assist in developing the assumptions used in, as well as calibrating, a Monte Carlo simulation model. The Company is responsible for determining the assumptions used in estimating the fair value of its share-based payment awards. For additional information on the Company's long-term share-based compensation plans and the types of share-based awards, see Note 12 of the Notes to the Consolidated Financial Statements included in the 2023 Annual Report.

BENEFIT PLANS

BENEFIT PLANS	6 Months Ended
	Jun. 30, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
BENEFIT PLANS	BENEFIT PLANS The Company has funded defined benefit plans in Japan and the U.S.; however, future benefits under the U.S. plan were frozen effective January 1, 2024, which resulted in the Company recognizing a curtailment gain of $49 million in the second quarter of 2023. U.S. employees, including those that participated in the U.S. plan prior to the freeze, currently receive a nonelective 401(k) employer contribution. The Company also maintains non-qualified, unfunded supplemental retirement plans that provide defined pension benefits in excess of limits imposed by federal tax law for certain Japanese, U.S. and former employees. However, future benefits under the Company's Supplemental Executive Retirement Plan and Retirement Plan for Senior Officers were frozen effective January 1, 2024, provided that actively employed participants may continue to accrue service toward eligibility for early retirement benefits or delayed early retirement benefits. The Company provides certain health care benefits for eligible U.S. retired employees, their beneficiaries and covered dependents (other postretirement benefits). The health care plan is contributory and unfunded. Effective January 1, 2014, employees eligible for benefits included the following: (1) active employees whose age plus service, in years, equaled or exceeded 80 (rule of 80); (2) active employees who were age 55 or older and have met the 15 years of service requirement; (3) active employees who would meet the rule of 80 in the next five years; (4) active employees who were age 55 or older and who would meet the 15 years of service requirement within the next five years; and (5) current retirees. For certain employees and former employees, additional coverage is provided for all medical expenses for life. Pension and other postretirement benefit expenses are included in acquisition and operating expenses in the consolidated statements of earnings, which includes other components of net periodic pension cost and postretirement costs (other than service costs) of $2 million and $(45) million for the three-month periods and $4 million and $(43) million for the six-month periods ended June 30, 2024 and 2023, respectively. Total net periodic benefit cost includes the following components: Three Months Ended June 30, Pension Benefits Other Japan U.S. Postretirement Benefits (In millions) 2024 2023 2024 2023 2024 2023 Components of net periodic Service cost $ 3 $ 3 $ 0 $ 3 $ 0 $ 0 Interest cost 2 2 10 10 0 1 Expected return on plan assets (1) (1) (8) (9) 0 0 Amortization of net actuarial loss 0 0 (1) 0 0 1 Curtailment (gain) loss 0 0 0 (49) 0 0 Net periodic (benefit) cost $ 4 $ 4 $ 1 $ (45) $ 0 $ 2 Six Months Ended June 30, Pension Benefits Other Japan U.S. Postretirement Benefits (In millions) 2024 2023 2024 2023 2024 2023 Components of net periodic Service cost $ 7 $ 7 $ 0 $ 7 $ 0 $ 0 Interest cost 4 4 19 21 0 1 Expected return on plan assets (3) (3) (15) (18) 0 0 Amortization of net actuarial loss 0 0 (1) 0 0 1 Curtailment (gain) loss 0 0 0 (49) 0 0 Net periodic (benefit) cost $ 8 $ 8 $ 3 $ (39) $ 0 $ 2 During the six months ended June 30, 2024, Aflac Japan contributed approximately $12 million (using the weighted-average yen/dollar exchange rate for the six-month period ended June 30, 2024) to the Japanese funded defined benefit plan, and Aflac U.S. did not make a contribution to the U.S. funded defined benefit plan. For additional information regarding the Company's Japanese and U.S. benefit plans, see Note 14 of the Notes to the Consolidated Financial Statements in the 2023 Annual Report.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES In June 2024, the Company entered into an agreement with an information technology and data services company to provide cloud hosting services for the Company. As of June 30, 2024, the agreement has a remaining term of three years with an aggregate remaining cost of $68 million. In June 2024, the Company renewed an outsourcing agreement with a technology and consulting company that provides for mainframe computer operations, distributed mid-range server computer operations, and related support for Aflac Japan. As of June 30, 2024, the agreement has a remaining term of five years with an aggregate remaining cost of ¥48.2 billion ($299 million using the June 30, 2024 exchange rate). In June 2024, the Company entered into an outsourcing agreement with a management consulting and technology services company to provide policy administration services for Aflac Japan. As of June 30, 2024, the agreement has a remaining term of six years with an aggregate remaining cost of ¥6.8 billion ($42 million using the June 30, 2024 exchange rate). The Company is a defendant in various lawsuits and receives various regulatory inquiries considered to be in the normal course of business. Members of the Company's senior legal and financial management teams review litigation and regulatory inquiries on a quarterly and annual basis. The final results of any litigation or regulatory inquiries cannot be predicted with certainty. Although some of this litigation is pending in states where large punitive damages, bearing little relation to the actual damages sustained by plaintiffs, have been awarded in recent years, the Company believes the outcome of pending litigation will not have a material adverse effect on its financial position, results of operations, or cash flows. See Note 3 for details on certain investment commitments. Guaranty Fund Assessments The U.S. insurance industry has a policyholder protection system that is monitored and regulated by state insurance departments. These life and health insurance guaranty associations are state entities (in all 50 states as well as Puerto Rico and the District of Columbia) created to protect policyholders of an insolvent insurance company. All insurance companies (with limited exceptions) licensed to sell life or health insurance in a state must be members of that state’s guaranty association. Under state guaranty association laws, certain insurance companies can be assessed (up to prescribed limits) for certain obligations to the policyholders and claimants of impaired or insolvent insurance companies that write the same line or similar lines of business. Guaranty fund assessments for the three- and six-month periods ended June 30, 2024 and 2023 were immaterial. For additional information regarding commitments and contingent liabilities, see Note 15 of the Notes to the Consolidated Financial Statements in the 2023 Annual Report.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net earnings	$ 1,755	$ 1,879	$ 1,634	$ 1,188	$ 3,634	$ 2,822

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 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

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business Aflac Incorporated (the Parent Company) and its subsidiaries (collectively, the Company) primarily sell supplemental health and life insurance in Japan and the United States (U.S.). The Company's insurance business is marketed and administered through Aflac Life Insurance Japan Ltd. (ALIJ) in Japan and through American Family Life Assurance Company of Columbus (Aflac), American Family Life Assurance Company of New York (Aflac New York), Continental American Insurance Company (CAIC), Tier One Insurance Company (TOIC) and Aflac Benefits Solutions, Inc. (ABS) in the U.S. The Company’s operations consist of two reportable business segments: Aflac Japan, which includes ALIJ, and Aflac U.S., which includes Aflac, Aflac New York, CAIC, TOIC and ABS. Aflac New York is a wholly owned subsidiary of Aflac. Most of the Aflac U.S. policies are individually underwritten and marketed through independent agents. With the exception of dental and vision products administered by ABS, and certain group life insurance products, Aflac U.S. markets and administers group products through CAIC, branded as Aflac Group Insurance. Additionally, Aflac U.S. markets its consumer markets products through TOIC. The Company's insurance operations in the U.S. and Japan service the two markets for the Company's insurance business. The Parent Company, other operating business units that are not individually reportable, reinsurance activities, including internal reinsurance activity with Aflac Re Bermuda Ltd. (Aflac Re), and other business activities not included in Aflac Japan or Aflac U.S., as well as intercompany eliminations, are included in Corporate and other. Basis of Presentation The Company prepares its financial statements in accordance with U.S. generally accepted accounting principles (U.S. GAAP). These principles are established primarily by the Financial Accounting Standards Board (FASB). In these Notes to the Consolidated Financial Statements, references to U.S. GAAP issued by the FASB are derived from the FASB Accounting Standards Codification TM (ASC). The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates based on currently available information when recording transactions resulting from business operations. The most significant items on the Company's balance sheet that involve a greater degree of accounting estimates and actuarial determinations subject to changes in the future are the valuation of investments and derivatives, deferred policy acquisition costs (DAC), liabilities for future policy benefits and income taxes. These accounting estimates and actuarial determinations are sensitive to market conditions, investment yields, interest rates, mortality, morbidity, commission and other acquisition expenses and terminations by policyholders. As additional information becomes available, or actual amounts are determinable, the recorded estimates are revised and reflected in the consolidated financial statements. Although some variability is inherent in these estimates, the Company believes the amounts provided are reasonable and reflective of the best estimates of management. The unaudited consolidated financial statements include the accounts of the Parent Company, its subsidiaries and those entities required to be consolidated under applicable accounting standards. All material intercompany accounts and transactions have been eliminated. In the opinion of management, the accompanying unaudited consolidated financial statements of the Company contain all adjustments, consisting of normal recurring accruals, which are necessary to fairly present the consolidated balance sheets as of June 30, 2024 and December 31, 2023, the consolidated statements of earnings and comprehensive income (loss) for the three- and six-month periods ended June 30, 2024 and 2023, the consolidated statements of shareholders' equity for the three-month periods ended March 31, 2024 and 2023 and June 30, 2024 and 2023, and the consolidated statements of cash flows for the six-month periods ended June 30, 2024 and 2023. Results of operations for interim periods are not necessarily indicative of results for the entire year. As a result, these financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's annual report on Form 10-K for the year ended December 31, 2023 (2023 Annual Report).
Reclassifications	Reclassifications : Certain reclassifications have been made to prior-year amounts to conform to current-year reporting classifications. These reclassifications had no impact on net earnings or total shareholders' equity. For the six-month period ended June 30, 2023, an immaterial reclassification was made to the consolidated statement of cash flows related to investments in limited partnerships resulting in an increase to net cash flows provided by operating activities of $245 million with a corresponding decrease to net cash flows provided by investing activities.
New Accounting Pronouncements	New Accounting Pronouncements Accounting Pronouncements Pending Adoption Accounting Standards Update (ASU) 2023-09 Income Taxes (Topic 740) – Improvements to Income Tax Disclosures In December 2023, the FASB issued amendments that require enhanced income tax disclosures including (1) disclosure of specific categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. The amendments are effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The adoption of this guidance has no impact on the Company’s financial position or results of operations. The Company is evaluating the impact of adoption on its disclosures. ASU 2023-07 Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures In November 2023, the FASB issued amendments that will add certain segment disclosures related to significant segment expenses and require that a public entity disclose the title and position of the Chief Operating Decision Maker (CODM) and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The adoption of this guidance has no impact on the Company’s financial position or results of operations. The Company is evaluating the impact of adoption on its disclosures. Recent accounting guidance not discussed above is not applicable, did not have, or is not expected to have a material impact to the Company's business. For additional information on new accounting pronouncements and recent accounting guidance and their impact, if any, on the Company's financial position, results of operations or disclosures, see Note 1 of the Notes to the Consolidated Financial Statements in the 2023 Annual Report.

BUSINESS SEGMENT INFORMATION (T

BUSINESS SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	Information regarding operations by reportable segment and Corporate and other follows: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2024 2023 2024 2023 Revenues: Aflac Japan: Net earned premiums (1) $ 1,715 $ 2,064 $ 3,531 $ 4,234 Adjusted net investment income 725 637 1,374 1,248 Other income 7 9 14 18 Total adjusted revenue Aflac Japan 2,447 2,710 4,919 5,500 Aflac U.S.: Net earned premiums 1,455 1,425 2,930 2,853 Adjusted net investment income 218 203 424 400 Other income 11 35 30 70 Total adjusted revenue Aflac U.S. 1,684 1,663 3,384 3,323 Corporate and other (2) 249 140 497 268 Total adjusted revenues 4,380 4,513 8,800 9,091 Net investment gains (losses) 696 555 1,647 678 Reconciling items: Amortized hedge costs 7 63 13 122 Amortized hedge income (34) (38) (62) (67) Net interest (income) expense from derivatives 89 79 177 148 Total revenues $ 5,138 $ 5,172 $ 10,575 $ 9,972 (1) Includes a gain (loss) of $(2) and $(1) for the three-month periods and $(5) and $(1) for the six-month periods ended June 30, 2024 and 2023, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts. (2) The change in value of federal historic rehabilitation and solar investments in partnerships of $30 and $53 for the three-month periods and $62 and $105 for the six-month periods ended June 30, 2024, and 2023, respectively, is included as a reduction to net investment income. Tax credits on these investments of $31 and $56 for the three-month periods and $64 and $108 for the six-month periods ended June 30, 2024, and 2023, respectively, have been recorded as an income tax benefit in the consolidated statements of earnings. See Note 3 for additional information on these investments.
Reconciliation of Adjusted Profit (Loss) from Segments to Consolidated	Three Months Ended June 30, Six Months Ended June 30, (In millions) 2024 2023 2024 2023 Pretax earnings: Aflac Japan (1) $ 864 $ 822 $ 1,674 $ 1,610 Aflac U.S. 383 369 739 721 Corporate and other (2) 23 (52) 21 (58) Pretax adjusted earnings 1,270 1,139 2,434 2,273 Other income (loss) 0 35 (2) 35 Net investment gains (losses) 696 555 1,647 678 Reconciling items: Amortized hedge costs 7 63 13 122 Amortized hedge income (34) (38) (62) (67) Net interest (income) expense from derivatives 89 79 177 148 Impact of interest from derivatives associated with notes payable (9) (8) (17) (22) Total earnings before income taxes $ 2,019 $ 1,825 $ 4,190 $ 3,167 Income taxes applicable to pretax adjusted earnings $ 235 $ 186 $ 438 $ 366 Effect of foreign currency translation on after-tax (37) (25) (81) (66) (1) Includes a gain (loss) of $(2) and $(1) for the three-month periods and $(5) and $(1) for the six-month periods ended June 30, 2024 and 2023, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts. (2) The change in value of federal historic rehabilitation and solar investments in partnerships of $30 and $53 for the three-month periods and $62 and $105 for the six-month periods ended June 30, 2024, and 2023, respectively, is included as a reduction to net investment income. Tax credits on these investments of $31 and $56 for the three-month periods and $64 and $108 for the six-month periods ended June 30, 2024, and 2023, respectively, have been recorded as an income tax benefit in the consolidated statements of earnings. See Note 3 for additional information on these investments.
Reconciliation of Assets from Segment to Consolidated	The Company's total assets were as follows: (In millions) June 30, December 31, Assets: Aflac Japan $ 92,708 $ 101,541 Aflac U.S. 21,755 21,861 Corporate and other 5,705 3,322 Total assets $ 120,168 $ 126,724

INVESTMENTS (Tables)

INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Available-for-Sale Debt Securities	The amortized cost and allowance for credit losses for the Company's investments in fixed maturity securities and the fair values of these investments as well as the fair value of the Company's investments in equity securities are shown in the following tables. June 30, 2024 (In millions) Amortized Allowance Gross Gross Fair Securities available-for-sale, carried at fair Fixed maturity securities: Yen-denominated: Japan government and agencies $ 19,952 $ 0 $ 524 $ 2,376 $ 18,100 Municipalities 853 0 71 74 850 Mortgage- and asset-backed securities 345 0 4 22 327 Public utilities 2,821 0 220 94 2,947 Sovereign and supranational 326 0 17 7 336 Banks/financial institutions 5,258 0 294 332 5,220 Other corporate 5,189 0 611 287 5,513 Total yen-denominated 34,744 0 1,741 3,192 33,293 U.S. dollar-denominated: U.S. government and agencies 184 0 1 4 181 Municipalities 1,206 0 76 49 1,233 Mortgage- and asset-backed securities 3,064 0 356 44 3,376 Public utilities 3,603 0 426 150 3,879 Sovereign and supranational 93 0 34 3 124 Banks/financial institutions 3,090 0 439 50 3,479 Other corporate 18,619 0 2,898 823 20,694 Total U.S. dollar-denominated 29,859 0 4,230 1,123 32,966 Total securities available-for-sale $ 64,603 $ 0 $ 5,971 $ 4,315 $ 66,259 December 31, 2023 (In millions) Amortized Allowance for Credit Losses Gross Gross Fair Securities available-for-sale, carried at fair Fixed maturity securities: Yen-denominated: Japan government and agencies $ 23,067 $ 0 $ 1,040 $ 1,696 $ 22,411 Municipalities 968 0 115 58 1,025 Mortgage- and asset-backed securities 215 0 6 11 210 Public utilities 3,757 0 325 82 4,000 Sovereign and supranational 373 0 24 7 390 Banks/financial institutions 5,896 0 320 365 5,851 Other corporate 5,898 0 699 294 6,303 Total yen-denominated 40,174 0 2,529 2,513 40,190 U.S. dollar-denominated: U.S. government and agencies 191 0 2 4 189 Municipalities 1,246 0 65 38 1,273 Mortgage- and asset-backed securities 2,748 0 184 56 2,876 Public utilities 3,346 0 360 114 3,592 Sovereign and supranational 122 0 33 8 147 Banks/financial institutions 2,676 0 359 51 2,984 Other corporate 20,186 0 2,518 665 22,039 Total U.S. dollar-denominated 30,515 0 3,521 936 33,100 Total securities available-for-sale $ 70,689 $ 0 $ 6,050 $ 3,449 $ 73,290
Held-to-maturity Securities	June 30, 2024 (In millions) Amortized Allowance Net Carrying Amount Gross Gross Fair Securities held-to-maturity, carried at Fixed maturity securities: Yen-denominated: Japan government and agencies $ 15,040 $ 2 $ 15,038 $ 834 $ 5 $ 15,867 Municipalities 232 0 232 24 0 256 Public utilities 31 0 31 1 0 32 Sovereign and supranational 371 3 368 30 0 398 Other corporate 16 0 16 1 0 17 Total yen-denominated 15,690 5 15,685 890 5 16,570 Total securities held-to-maturity $ 15,690 $ 5 $ 15,685 $ 890 $ 5 $ 16,570 December 31, 2023 (In millions) Amortized Allowance for Credit Losses Net Carrying Amount Gross Gross Fair Securities held-to-maturity, carried at Fixed maturity securities: Yen-denominated: Japan government and agencies $ 17,085 $ 2 $ 17,083 $ 1,746 $ 0 $ 18,829 Municipalities 266 0 266 41 0 307 Public utilities 34 0 34 4 0 38 Sovereign and supranational 421 3 418 44 0 462 Other corporate 18 0 18 3 0 21 Total yen-denominated 17,824 5 17,819 1,838 0 19,657 Total securities held-to-maturity $ 17,824 $ 5 $ 17,819 $ 1,838 $ 0 $ 19,657
Equity securities, FV-NI	June 30, December 31, (In millions) Fair Value Fair Value Equity securities, carried at fair value through net earnings: Equity securities: Yen-denominated $ 482 $ 751 U.S. dollar-denominated 246 252 Other currencies 0 85 Total equity securities $ 728 $ 1,088
Investments Classified by Contractual Maturity Date	The contractual and economic maturities of the Company's investments in fixed maturity securities at June 30, 2024, were as follows: (In millions) Amortized (1) Fair Available-for-sale: Due in one year or less $ 1,214 $ 1,265 Due after one year through five years 6,729 7,665 Due after five years through 10 years 17,527 18,946 Due after 10 years 35,724 34,680 Mortgage- and asset-backed securities 3,409 3,703 Total fixed maturity securities available-for-sale $ 64,603 $ 66,259 Held-to-maturity: Due in one year or less $ 0 $ 0 Due after one year through five years 33 34 Due after five years through 10 years 8,366 8,956 Due after 10 years 7,286 7,580 Total fixed maturity securities held-to-maturity $ 15,685 $ 16,570 (1)
Investment Exposures Exceeding Ten Percent Shareholders Equity	Investment exposures that individually exceeded 10% of shareholders' equity were as follows: June 30, 2024 December 31, 2023 (In millions) Credit Amortized Fair Credit Amortized Fair Japan National Government (1) A+ $ 34,111 $ 33,114 A+ $ 39,151 $ 40,222 (1) Japan Government Bonds (JGBs) or JGB-backed securities
Gain (Loss) on Investments	Information regarding pretax net gains and losses from investments is as follows: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2024 2023 2024 2023 Net investment gains (losses): Sales and redemptions: Fixed maturity securities available-for-sale: Gross gains from sales $ 6 $ 7 $ 40 $ 8 Gross losses from sales (27) (6) (309) (9) Foreign currency gains (losses) 71 26 487 85 Other investments: Gross gains (losses) from sales and redemptions 5 (3) 10 (3) Total sales and redemptions 55 24 228 81 Equity securities 11 (9) 87 (12) Credit losses: Fixed maturity securities held-to-maturity 0 0 0 1 Commercial mortgage and other loans (21) (2) (28) (33) Impairment losses 0 0 0 0 Loan commitments 2 1 3 4 Reinsurance recoverables and other 0 0 5 (3) Total credit losses (19) (1) (20) (31) Derivatives and other: Derivative gains (losses) (275) (594) (490) (577) Foreign currency gains (losses) 924 1,135 1,842 1,217 Total derivatives and other 649 541 1,352 640 Total net investment gains (losses) $ 696 $ 555 $ 1,647 $ 678
Net Effect on Shareholders' Equity of Unrealized Gains and Losses from Investment Securities	The net effect on shareholders’ equity of unrealized gains and losses from fixed maturity securities was as follows: (In millions) June 30, December 31, Unrealized gains (losses) on securities available-for-sale $ 1,656 $ 2,601 Deferred income taxes (1,255) (1,462) Shareholders’ equity, unrealized gains (losses) on fixed maturity securities $ 401 $ 1,139
Investments Gross Unrealized Loss Aging	The following tables show the fair values and gross unrealized losses of the Company's available-for-sale investments for the periods ended June 30, 2024 and December 31, 2023, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position. June 30, 2024 Total Less than 12 months 12 months or longer (In millions) Fair Unrealized Fair Unrealized Fair Unrealized Fixed maturity securities available- U.S. government and U.S. dollar-denominated $ 114 $ 4 $ 38 $ 1 $ 76 $ 3 Japan government and Yen-denominated 8,156 2,376 2,577 574 5,579 1,802 Municipalities: U.S. dollar-denominated 670 49 29 1 641 48 Yen-denominated 339 74 123 4 216 70 Mortgage- and asset- U.S. dollar-denominated 684 44 167 1 517 43 Yen-denominated 223 22 41 0 182 22 Public utilities: U.S. dollar-denominated 1,438 150 445 15 993 135 Yen-denominated 951 94 492 18 459 76 Sovereign and supranational: U.S. dollar-denominated 14 3 0 0 14 3 Yen-denominated 25 7 0 1 25 6 Banks/financial institutions: U.S. dollar-denominated 753 50 345 8 408 42 Yen-denominated 3,132 332 450 23 2,682 309 Other corporate: U.S. dollar-denominated 6,336 823 1,473 43 4,863 780 Yen-denominated 1,719 287 429 19 1,290 268 Total $ 24,554 $ 4,315 $ 6,609 $ 708 $ 17,945 $ 3,607 December 31, 2023 Total Less than 12 months 12 months or longer (In millions) Fair Unrealized Fair Unrealized Fair Unrealized Fixed maturity securities available- U.S. government and U.S. dollar-denominated $ 123 $ 4 $ 53 $ 1 $ 70 $ 3 Japan government and Yen-denominated 8,393 1,696 1,657 303 6,736 1,393 Municipalities: U.S. dollar-denominated 703 38 31 1 672 37 Yen-denominated 301 58 34 0 267 58 Mortgage- and asset- U.S. dollar-denominated 925 56 340 6 585 50 Yen-denominated 58 11 0 0 58 11 Public utilities: U.S. dollar-denominated 1,120 114 228 4 892 110 Yen-denominated 1,028 82 444 13 584 69 Sovereign and supranational: U.S. dollar-denominated 35 8 0 0 35 8 Yen-denominated 60 7 0 0 60 7 Banks/financial institutions: U.S. dollar-denominated 655 51 159 4 496 47 Yen-denominated 3,673 365 186 4 3,487 361 Other corporate: U.S. dollar-denominated 6,380 665 799 19 5,581 646 Yen-denominated 1,948 294 308 9 1,640 285 Total $ 25,402 $ 3,449 $ 4,239 $ 364 $ 21,163 $ 3,085
Composition of the Carrying Value for Commercial Mortgage and Other Loans by Property Type	The following table reflects the composition of the carrying value for commercial mortgage and other loans by property type as of the periods presented. (In millions) June 30, 2024 December 31, 2023 Amortized % of Amortized % of Commercial Mortgage and other loans: Transitional real estate loans: Office $ 1,635 13.6 % $ 1,807 14.1 % Retail 337 2.8 473 3.7 Apartments/Multi-Family 2,438 20.3 2,608 20.4 Industrial 115 1.0 157 1.2 Hospitality 712 5.9 814 6.4 Other 432 3.6 255 2.0 Total transitional real estate loans 5,669 47.2 6,114 47.8 Commercial mortgage loans: Office 354 2.9 359 2.8 Retail 218 1.8 301 2.4 Apartments/Multi-Family 579 4.8 586 4.6 Industrial 442 3.7 463 3.6 Other 15 .1 0 0.0 Total commercial mortgage loans 1,608 13.3 1,709 13.4 Middle market loans 4,489 37.3 4,677 36.5 Other loans 267 2.2 301 2.3 Total commercial mortgage and other loans $ 12,033 100.0 % $ 12,801 100.0 % Allowance for credit losses (238) (274) Total net commercial mortgage and other loans $ 11,795 $ 12,527
Financing Receivable Nonaccrual	The following tables present an aging of past due and nonaccrual loans at amortized cost, before allowance for credit losses, as of the periods presented. June 30, 2024 (In millions) Current Less Than 90 Days or More Past Due (1) Total Past Total Nonaccrual Transitional real estate loans $ 4,934 $ 217 $ 518 $ 735 $ 5,669 $ 475 Commercial mortgage loans 1,587 0 21 21 1,608 21 Middle market loans 4,384 62 43 105 4,489 43 Other loans 247 0 20 20 267 0 Total $ 11,152 $ 279 $ 602 $ 881 $ 12,033 $ 539 (1) As of June 30, 2024, there were $106 of loans that were 90 days or more past due that continued to accrue interest. December 31, 2023 (In millions) Current Less Than 90 Days or More Past Due (1) Total Past Total Nonaccrual Transitional real estate loans $ 5,481 $ 108 $ 525 $ 633 $ 6,114 $ 633 Commercial mortgage loans 1,676 33 0 33 1,709 0 Middle market loans 4,592 0 85 85 4,677 85 Other loans 301 0 0 0 301 0 Total $ 12,050 $ 141 $ 610 $ 751 $ 12,801 $ 718 (1) As of December 31, 2023, there were no loans that were 90 days or more past due that continued to accrue interest.
Allowance for Loan Losses by Portfolio Segment	The following table presents the roll forward of the allowance for credit losses by portfolio segment for loans and by accounting classification for securities. (In millions) Transitional Commercial Middle Market Other Loans Held-to- Available- Total Three Months Ended June 30, 2024: Balance at March 31, 2024 $ (114) $ (19) $ (99) $ (15) $ (5) $ 0 $ (252) (Addition to) release of allowance for credit losses (24) 2 1 2 0 0 (19) Writeoffs, net of recoveries 15 0 0 0 0 0 15 Change in foreign exchange 0 0 0 0 0 0 0 Balance at June 30, 2024 $ (123) $ (17) $ (98) $ (13) $ (5) $ 0 $ (256) Three Months Ended June 30, 2023: Balance at March 31, 2023 $ (65) $ (9) $ (149) $ (21) $ (6) $ 0 $ (250) (Addition to) release of allowance for credit losses (11) 0 9 1 0 0 (1) Writeoffs, net of recoveries 0 0 0 0 0 0 0 Change in foreign exchange 0 0 0 0 1 0 1 Balance at June 30, 2023 $ (76) $ (9) $ (140) $ (20) $ (5) $ 0 $ (250) Six Months Ended June 30, 2024: Balance at December 31, 2023 $ (112) $ (16) $ (146) $ (16) $ (5) $ 0 $ (295) (Addition to) release of allowance for credit losses (26) (1) (2) 3 0 0 (26) Writeoffs, net of recoveries 15 0 50 0 0 0 65 Change in foreign exchange 0 0 0 0 0 0 0 Balance at June 30, 2024 $ (123) $ (17) $ (98) $ (13) $ (5) $ 0 $ (256) Six Months Ended June 30, 2023: Balance at December 31, 2022 $ (54) $ (9) $ (129) $ (24) $ (7) $ 0 $ (223) (Addition to) release of allowance for credit losses (22) 0 (11) 4 1 0 (28) Writeoffs, net of recoveries 0 0 0 0 0 0 0 Change in foreign exchange 0 0 0 0 1 0 1 Balance at June 30, 2023 $ (76) $ (9) $ (140) $ (20) $ (5) $ 0 $ (250)
Other Investments	The table below reflects the composition of the carrying value for other investments as of the periods presented. (In millions) June 30, December 31, 2023 Other investments: Policy loans $ 195 $ 214 Short-term investments (1) 3,380 1,304 Limited partnerships (2) 2,983 2,750 Real estate owned 497 227 Other 47 35 Total other investments $ 7,102 $ 4,530 (1) Includes securities lending collateral (2) Includes tax credit investments and asset classes such as private equity and real estate funds
Securities Lending Transactions Accounted for as Secured Borrowings	Details of collateral by loaned security type and remaining maturity of the agreements were as follows: Securities Lending Transactions Accounted for as Secured Borrowings Remaining Contractual Maturity of the Agreements June 30, 2024 December 31, 2023 (In millions) Overnight (1) Up to 30 Total Overnight (1) Up to 30 Total Securities lending Fixed maturity securities: Japan government and agencies $ 0 $ 3,583 $ 3,583 $ 0 $ 737 $ 737 Public utilities 51 0 51 19 0 19 Banks/financial institutions 145 0 145 72 0 72 Other corporate 714 0 714 675 0 675 Total borrowings $ 910 $ 3,583 $ 4,493 $ 766 $ 737 $ 1,503 Gross amount of recognized liabilities for securities $ 4,493 $ 1,503 (1) The related loaned security, under the Company's U.S. securities lending program, can be returned to the Company at the transferee's discretion; therefore, they are classified as Overnight and Continuous.
Variable Interest Entity, Consolidated
Investments in Variable Interest Entities	The following table presents carrying value and balance sheet caption in which the assets and liabilities of consolidated VIEs are reported. Investments in Consolidated Variable Interest Entities (In millions) June 30, December 31, Assets: Fixed maturity securities, available-for-sale $ 3,677 $ 3,712 Commercial mortgage and other loans 9,454 10,150 Other investments (1) 2,571 2,381 Other assets (2) 58 55 Total assets of consolidated VIEs $ 15,760 $ 16,298 Liabilities: Other liabilities (2) $ 700 $ 507 Total liabilities of consolidated VIEs $ 700 $ 507 (1) Consists entirely of alternative investments in limited partnerships (2) Consists entirely of derivatives
Variable Interest Entity, Not Consolidated
Investments in Variable Interest Entities	The table below reflects the carrying value and balance sheet caption in which the Company's investments in VIEs that are not consolidated are reported. Investments in Variable Interest Entities Not Consolidated (In millions) June 30, December 31, Assets: Fixed maturity securities, available-for-sale $ 6,552 $ 6,424 Other investments (1) 412 369 Total investments in VIEs not consolidated $ 6,964 $ 6,793 (1) Consists entirely of alternative investments in limited partnerships
Transitional real estate loans
Financing Receivable Credit Quality Indicators	Transitional Real Estate Loans (In millions) 2024 2023 2022 2021 2020 Prior Total Loan-to-Value Ratio: 0%-59.99% $ 0 $ 0 $ 615 $ 513 $ 36 $ 143 $ 1,307 60%-69.99% 0 114 394 673 18 605 1,804 70%-79.99% 0 14 814 812 83 173 1,896 80% or greater 0 0 219 214 80 149 662 Total $ 0 $ 128 $ 2,042 $ 2,212 $ 217 $ 1,070 $ 5,669 Current-period gross $ 0 $ 0 $ 0 $ 5 $ 0 $ 10 $ 15
Commercial mortgage loans
Financing Receivable Credit Quality Indicators	Commercial Mortgage Loans (In millions) 2024 2023 2022 2021 2020 Prior Total Weighted-Average DSCR Loan-to-Value Ratio: 0%-59.99% $ 0 $ 33 $ 0 $ 294 $ 58 $ 952 $ 1,337 2.64 60%-69.99% 13 0 0 0 0 39 52 1.31 70%-79.99% 0 0 0 0 0 86 86 1.26 80% or greater 0 0 0 0 0 133 133 0.51 Total $ 13 $ 33 $ 0 $ 294 $ 58 $ 1,210 $ 1,608 2.34 Weighted Average DSCR 1.21 2.58 0.00 2.93 2.61 2.20 Current-period gross $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
Middle market loans
Financing Receivable Credit Quality Indicators	Middle Market Loans (In millions) 2024 2023 2022 2021 2020 Prior Revolving Loans Total Credit Ratings: BBB $ 10 $ 15 $ 62 $ 103 $ 94 $ 93 $ 16 $ 393 BB 85 41 367 415 280 499 81 1,768 B 111 45 246 563 249 620 42 1,876 CCC 0 0 22 78 90 140 16 346 CC 0 0 0 0 0 8 0 8 C and lower 0 0 0 6 0 90 2 98 Total $ 206 $ 101 $ 697 $ 1,165 $ 713 $ 1,450 $ 157 $ 4,489 Current-period gross $ 0 $ 0 $ 0 $ 27 $ 0 $ 23 $ 0 $ 50
Other loans
Financing Receivable Credit Quality Indicators	Other Loans (In millions) 2024 2023 2022 2021 2020 Prior Revolving Loans Total Credit Ratings: A $ 0 $ 22 $ 76 $ 0 $ 0 $ 0 $ 0 $ 98 AA 0 0 22 3 0 0 0 25 BBB 5 64 0 0 0 0 0 69 BB 0 0 75 0 0 0 0 75 Total $ 5 $ 86 $ 173 $ 3 $ 0 $ 0 $ 0 $ 267 Current-period gross writeoffs: $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The table below summarizes the balance sheet classification of the Company's derivative fair value amounts, as well as the gross asset and liability fair value amounts. The fair value amounts presented do not include income accruals. Derivative assets are included in other assets, while derivative liabilities are included in other liabilities within the Company’s consolidated balance sheets. The notional amount of derivative contracts represents the basis upon which pay or receive amounts are calculated and are not reflective of exposure or credit risk. June 30, 2024 December 31, 2023 (In millions) Asset Liability Asset Liability Hedge Designation/ Derivative Notional Fair Value Fair Value Notional Fair Value Fair Value Cash flow hedges: Foreign currency swaps - VIE $ 18 $ 0 $ 6 $ 18 $ 0 $ 4 Total cash flow hedges 18 0 6 18 0 4 Fair value hedges: Foreign currency options 0 0 0 2,158 0 0 Total fair value hedges 0 0 0 2,158 0 0 Net investment hedge: Foreign currency forwards 1,972 235 0 2,611 179 27 Foreign currency options 0 0 0 456 0 0 Total net investment hedge 1,972 235 0 3,067 179 27 Non-qualifying strategies: Foreign currency swaps 1,200 16 0 1,200 31 0 Foreign currency swaps - VIE 3,416 58 694 3,417 55 503 Foreign currency forwards 0 0 0 7,402 59 477 Foreign currency options 26,715 7 173 22,557 2 0 Interest rate swaps 17,230 0 451 17,230 11 419 Total non-qualifying strategies 48,561 81 1,318 51,806 158 1,399 Total derivatives $ 50,551 $ 316 $ 1,324 $ 57,049 $ 337 $ 1,430
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The following table presents the gains and losses on derivatives and the related hedged items in fair value hedges. The Company had no fair value hedges during the three- and six-month periods ended June 30, 2024. Fair Value Hedging Relationships (In millions) Hedging Derivatives Hedged Items Hedging Derivatives Hedged Items Total Gains (Losses) (1) Gains (Losses) (2) Gains (Losses) (2) Net Investment Gains (Losses) Recognized for Fair Value Hedge Three Months Ended June 30, 2023: Foreign currency options Fixed maturity securities $ (25) $ (25) $ 0 $ 0 $ 0 Total gains (losses) $ (25) $ (25) $ 0 $ 0 $ 0 Six Months Ended June 30, 2023: Foreign currency options Fixed maturity securities $ (64) $ (64) $ 0 $ 0 $ 0 Total gains (losses) $ (64) $ (64) $ 0 $ 0 $ 0 (1) Gains (losses) excluded from effectiveness testing includes the forward point on foreign currency forwards and time value change on foreign currency options which are reported in the consolidated statements of earnings as net investment gains (losses). It also includes the change in the fair value of the interest rate swaptions related to the time value of the swaptions which is recognized as a component of other comprehensive income (loss). (2) Gains and losses on foreign currency forwards and options and related hedged items are reported in the consolidated statements of earnings as net investment gains (losses). For interest rate swaptions and related hedged items, gains and losses included in the hedge assessment, premium amortization and time value amortization while the hedge items are still outstanding are reported within net investment income. The time value gains and losses for interest rate swaptions when the related hedged items are redeemed are reported in net investment gains (losses) consistent with the impact of the hedged item. For the three- and six-month periods ended June 30, 2023, gains and losses included in the hedge assessment on interest rate swaptions and related hedged items were immaterial.
Schedule of Interest Rate Fair Value Hedges Hedged Items	The following table shows the carrying amounts of assets designated and qualifying as hedged items in fair value hedges of interest rate risk and the related cumulative hedge adjustment included in the carrying amount. The Company had no fair value hedges of interest rate risk as of June 30, 2024 and December 31, 2023; therefore, the amounts presented in the table below are related to previous fair value hedges of interest rate risk that were discontinued. (In millions) Carrying Amount of the Hedged Assets/(Liabilities) (1) Cumulative Amount of Fair Value June 30, December 31, June 30, December 31, Fixed maturity securities $ 1,452 $ 1,692 $ 153 $ 164 (1) The balance includes hedging adjustment on discontinued hedging relationships of $153 in 2024 and $164 in 2023.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The following table summarizes the impact to earnings and other comprehensive income (loss) from all derivatives and hedging instruments. Three Months Ended June 30, 2024 2023 (In millions) Net Investment Income (1) Net Investment Other (2) Net Investment Income (1) Net Investment Other (2) Qualifying hedges: Cash flow hedges: Foreign currency swaps - VIE $ 0 $ (1) $ 0 $ 0 $ (1) $ 1 Total cash flow hedges 0 (1) (3) 0 0 (1) (3) 1 Fair value hedges: Foreign currency options 0 (25) Total fair value hedges 0 (25) Net investment hedge: Non-derivative hedging 0 265 0 313 Foreign currency forwards 32 155 37 393 Foreign currency options 0 0 (5) 0 Total net investment hedge 32 420 32 706 Non-qualifying strategies: Foreign currency swaps 1 2 Foreign currency swaps - VIE (128) (63) Foreign currency forwards 0 (331) Foreign currency options (141) (18) Interest rate swaps (38) (189) Forward bond purchase 0 (1) Total non-qualifying strategies (306) (600) Total $ 0 $ (275) $ 420 $ 0 $ (594) $ 707 1) Interest expense/income on cash flow hedges are recorded in net investment income. For interest rate swaptions classified as fair value hedges, the change in the time value of the swaptions is recognized in other comprehensive income (loss) and amortized into net investment income over its legal term. If the swaption is early terminated but the hedge item is still outstanding, the amortization of disposal amount of the swaptions is recorded in net investment income over the remaining life of the hedged items. (2) Gains and losses on cash flow hedges and the change in the fair value of interest rate swaptions related to the time value of the swaptions in fair value hedges are recorded as unrealized gains (losses). Gains and losses on net investment hedges related to changes in foreign currency spot rates are recorded in the unrealized foreign currency translation gains (losses) line in the consolidated statements of comprehensive income (loss). (3) Impact of cash flow hedges reported as net investment gains (losses) includes $1 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the three-month period ended June 30, 2024, and $1 of losses during the three-month period ended June 30, 2023. Six Months Ended June 30, 2024 2023 (In millions) Net Investment Income (1) Net Investment Other (2) Net Investment Income (1) Net Investment Other (2) Qualifying hedges: Cash flow hedges: Foreign currency swaps - VIE $ 0 $ (2) $ 0 $ 0 $ (2) $ 2 Total cash flow hedges 0 (2) (3) 0 0 (2) (3) 2 Fair value hedges: Foreign currency options 0 (64) Total fair value hedges 0 (64) Net investment hedge: Non-derivative hedging 0 501 0 338 Foreign currency forwards 76 300 127 422 Foreign currency options 0 0 (8) 0 Total net investment hedge 76 801 119 760 Non-qualifying strategies: Foreign currency swaps 2 3 Foreign currency swaps - VIE (216) (90) Foreign currency forwards 17 (382) Foreign currency options (182) (37) Interest rate swaps (185) (120) Forward bond purchase 0 (4) Total non-qualifying strategies (564) (630) Total $ 0 $ (490) $ 801 $ 0 $ (577) $ 762 (1) Interest expense/income on cash flow hedges are recorded in net investment income. For interest rate swaptions classified as fair value hedges, the change in the time value of the swaptions is recognized in other comprehensive income (loss) and amortized into net investment income over its legal term. If the swaption is early terminated but the hedge item is still outstanding, the amortization of disposal amount of the swaptions is recorded in net investment income over the remaining life of the hedged items. (2) Gains and losses on cash flow hedges and the change in the fair value of interest rate swaptions related to the time value of the swaptions in fair value hedges are recorded as unrealized gains (losses). Gains and losses on net investment hedges related to changes in foreign currency spot rates are recorded in the unrealized foreign currency translation gains (losses) line in the consolidated statements of comprehensive income (loss). (3) Impact of cash flow hedges reported as net investment gains (losses) includes $2 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the six-month period ended June 30, 2024, and $1 of losses during the six-month period ended June 30, 2023.
Offsetting Assets	Offsetting of Financial Assets and Derivative Assets June 30, 2024 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Assets Gross Amount Net Amount of Assets Presented Financial Instruments Securities Cash Collateral Received Net Amount Derivative Derivative assets subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 258 $ 0 $ 258 $ (6) $ (90) $ (161) $ 1 Total derivative 258 0 258 (6) (90) (161) 1 Derivative assets not subject to a master netting agreement or offsetting arrangement OTC - bilateral 58 58 58 Total derivative 58 58 58 Total derivative 316 0 316 (6) (90) (161) 59 Securities lending 4,459 0 4,459 0 0 (4,459) 0 Total $ 4,775 $ 0 $ 4,775 $ (6) $ (90) $ (4,620) $ 59 December 31, 2023 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Assets Gross Amount Net Amount of Assets Presented Financial Instruments Securities Cash Collateral Received Net Amount Derivative Derivative assets subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 271 $ 0 $ 271 $ (85) $ (53) $ (130) $ 3 OTC - cleared 11 0 11 (11) 0 0 0 Total derivative 282 0 282 (96) (53) (130) 3 Derivative assets not subject to a master netting agreement or offsetting arrangement OTC - bilateral 55 55 55 Total derivative 55 55 55 Total derivative 337 0 337 (96) (53) (130) 58 Securities lending 1,480 0 1,480 0 0 (1,480) 0 Total $ 1,817 $ 0 $ 1,817 $ (96) $ (53) $ (1,610) $ 58
Offsetting Liabilities	Offsetting of Financial Liabilities and Derivative Liabilities June 30, 2024 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Liabilities Gross Amount Net Amount of Liabilities Presented Financial Instruments Securities Cash Collateral Pledged Net Amount Derivative Derivative liabilities subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 173 $ 0 $ 173 $ (6) $ (167) $ 0 $ 0 OTC - cleared 451 0 451 0 (7) (444) 0 Total derivative 624 0 624 (6) (174) (444) 0 Derivative liabilities not subject to a master netting agreement or offsetting arrangement OTC - bilateral 700 700 700 Total derivative 700 700 700 Total derivative 1,324 0 1,324 (6) (174) (444) 700 Securities lending 4,493 0 4,493 (4,459) 0 0 34 Total $ 5,817 $ 0 $ 5,817 $ (4,465) $ (174) $ (444) $ 734 December 31, 2023 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Liabilities Gross Amount Net Amount of Liabilities Presented Financial Instruments Securities Cash Collateral Pledged Net Amount Derivative Derivative liabilities subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 504 $ 0 $ 504 $ (85) $ (381) $ (37) $ 1 OTC - cleared 419 0 419 (11) (19) (389) 0 Total derivative 923 0 923 (96) (400) (426) 1 Derivative liabilities not subject to a master netting agreement or offsetting arrangement OTC - bilateral 507 507 507 Total derivative 507 507 507 Total derivative 1,430 0 1,430 (96) (400) (426) 508 Securities lending 1,503 0 1,503 (1,480) 0 0 23 Total $ 2,933 $ 0 $ 2,933 $ (1,576) $ (400) $ (426) $ 531

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Hierarchy, Assets and Liabilities Measured on Recurring Basis	The following tables present the fair value hierarchy levels of the Company's assets and liabilities that are measured and carried at fair value on a recurring basis. June 30, 2024 (In millions) Quoted Prices in Significant Significant Total Assets: Securities available-for-sale, carried at Fixed maturity securities: Government and agencies $ 17,520 $ 761 $ 0 $ 18,281 Municipalities 0 2,083 0 2,083 Mortgage- and asset-backed securities 0 2,490 1,213 3,703 Public utilities 0 6,461 365 6,826 Sovereign and supranational 0 435 25 460 Banks/financial institutions 0 8,630 69 8,699 Other corporate 0 25,823 384 26,207 Total fixed maturity securities 17,520 46,683 2,056 66,259 Equity securities 571 0 157 728 Other investments 3,380 0 0 3,380 Cash and cash equivalents 6,060 0 0 6,060 Other assets: Foreign currency swaps 0 74 0 74 Foreign currency forwards 0 235 0 235 Foreign currency options 0 7 0 7 Total other assets 0 316 0 316 Total assets $ 27,531 $ 46,999 $ 2,213 $ 76,743 Liabilities: Other liabilities: Foreign currency swaps $ 0 $ 700 $ 0 $ 700 Foreign currency options 0 173 0 173 Interest rate swaps 0 451 0 451 Total liabilities $ 0 $ 1,324 $ 0 $ 1,324 December 31, 2023 (In millions) Quoted Prices in Significant Significant Total Assets: Securities available-for-sale, carried at Fixed maturity securities: Government and agencies $ 21,700 $ 900 $ 0 $ 22,600 Municipalities 0 2,298 0 2,298 Mortgage- and asset-backed securities 0 2,314 772 3,086 Public utilities 0 7,339 253 7,592 Sovereign and supranational 0 507 30 537 Banks/financial institutions 0 8,757 78 8,835 Other corporate 0 27,694 648 28,342 Total fixed maturity securities 21,700 49,809 1,781 73,290 Equity securities 840 0 248 1,088 Other investments 1,304 0 0 1,304 Cash and cash equivalents 4,306 0 0 4,306 Other assets: Foreign currency swaps 0 86 0 86 Foreign currency forwards 0 238 0 238 Foreign currency options 0 2 0 2 Interest rate swaps 0 11 0 11 Total other assets 0 337 0 337 Total assets $ 28,150 $ 50,146 $ 2,029 $ 80,325 Liabilities: Other liabilities: Foreign currency swaps $ 0 $ 507 $ 0 $ 507 Foreign currency forwards 0 504 0 504 Interest rate swaps 0 419 0 419 Total liabilities $ 0 $ 1,430 $ 0 $ 1,430
Fair Value Hierarchy Levels of Assets and Liabilities Carried at Cost or Amortized Cost	The following tables present the carrying amount and fair value categorized by fair value hierarchy level for the Company's financial instruments that are not carried at fair value. June 30, 2024 (In millions) Carrying Quoted Prices in Significant Significant Total Assets: Securities held-to-maturity, Fixed maturity securities: Government and agencies $ 15,038 $ 15,727 $ 140 $ 0 $ 15,867 Municipalities 232 0 256 0 256 Public utilities 31 0 32 0 32 Sovereign and 368 0 398 0 398 Other corporate 16 0 17 0 17 Commercial mortgage and 11,795 0 0 11,457 11,457 Other investments (1) 47 0 47 0 47 Total assets $ 27,527 $ 15,727 $ 890 $ 11,457 $ 28,074 Liabilities: Other policyholders’ funds $ 5,439 $ 0 $ 0 $ 5,364 $ 5,364 Notes payable 7,322 0 6,275 663 6,938 Total liabilities $ 12,761 $ 0 $ 6,275 $ 6,027 $ 12,302 (1) Excludes policy loans of $195, equity method investments of $2,983, and REO of $497, at carrying valu e. December 31, 2023 (In millions) Carrying Quoted Prices in Significant Significant Total Assets: Securities held-to-maturity, Fixed maturity securities: Government and agencies $ 17,083 $ 18,662 $ 167 $ 0 $ 18,829 Municipalities 266 0 307 0 307 Public utilities 34 0 38 0 38 Sovereign and 418 0 462 0 462 Other corporate 18 0 21 0 21 Commercial mortgage and 12,527 0 0 12,217 12,217 Other investments (1) 35 0 35 0 35 Total assets $ 30,381 $ 18,662 $ 1,030 $ 12,217 $ 31,909 Liabilities: Other policyholders’ funds $ 6,169 $ 0 $ 0 $ 6,080 $ 6,080 Notes payable 7,240 0 6,178 752 6,930 Total liabilities $ 13,409 $ 0 $ 6,178 $ 6,832 $ 13,010 (1) Excludes policy loans of $214, equity method investments of $2,750, and REO of $227, at carrying value.
Fair Value, Assets Carried At Fair Value, Primary Pricing Sources	The following tables present the pricing sources for the fair values of the Company's fixed maturity and equity securities. June 30, 2024 (In millions) Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs Total Securities available-for-sale, carried at fair value: Fixed maturity securities: Government and agencies: Third-party pricing vendor $ 17,520 $ 450 $ 0 $ 17,970 Internal 0 311 0 311 Total government and agencies 17,520 761 0 18,281 Municipalities: Third-party pricing vendor 0 1,836 0 1,836 Internal 0 247 0 247 Total municipalities 0 2,083 0 2,083 Mortgage- and asset-backed securities: Third-party pricing vendor 0 2,446 40 2,486 Internal 0 44 39 83 Broker/other 0 0 1,134 1,134 Total mortgage- and asset-backed securities 0 2,490 1,213 3,703 Public utilities: Third-party pricing vendor 0 3,576 0 3,576 Internal 0 2,885 0 2,885 Broker/other 0 0 365 365 Total public utilities 0 6,461 365 6,826 Sovereign and supranational: Third-party pricing vendor 0 124 0 124 Internal 0 311 0 311 Broker/other 0 0 25 25 Total sovereign and supranational 0 435 25 460 Banks/financial institutions: Third-party pricing vendor 0 4,765 0 4,765 Internal 0 3,865 60 3,925 Broker/other 0 0 9 9 Total banks/financial institutions 0 8,630 69 8,699 Other corporate: Third-party pricing vendor 0 20,738 0 20,738 Internal 0 5,024 127 5,151 Broker/other 0 61 257 318 Total other corporate 0 25,823 384 26,207 Total securities available-for-sale $ 17,520 $ 46,683 $ 2,056 $ 66,259 Equity securities, carried at fair value: Third-party pricing vendor $ 571 $ 0 $ 0 $ 571 Broker/other 0 0 157 157 Total equity securities $ 571 $ 0 $ 157 $ 728 December 31, 2023 (In millions) Quoted Prices in Active Markets Significant Observable Significant Unobservable Inputs Total Securities available-for-sale, carried at fair value: Fixed maturity securities: Government and agencies: Third-party pricing vendor $ 21,692 $ 808 $ 0 $ 22,500 Internal 0 60 0 60 Broker/other 8 32 0 40 Total government and agencies 21,700 900 0 22,600 Municipalities: Third-party pricing vendor 0 1,426 0 1,426 Internal 0 256 0 256 Broker/other 0 616 0 616 Total municipalities 0 2,298 0 2,298 Mortgage- and asset-backed securities: Third-party pricing vendor 0 2,277 0 2,277 Internal 0 27 105 132 Broker/other 0 10 667 677 Total mortgage- and asset-backed securities 0 2,314 772 3,086 Public utilities: Third-party pricing vendor 0 4,570 0 4,570 Internal 0 2,677 0 2,677 Broker/other 0 92 253 345 Total public utilities 0 7,339 253 7,592 Sovereign and supranational: Third-party pricing vendor 0 118 0 118 Internal 0 330 0 330 Broker/other 0 59 30 89 Total sovereign and supranational 0 507 30 537 Banks/financial institutions: Third-party pricing vendor 0 5,085 0 5,085 Internal 0 3,008 69 3,077 Broker/other 0 664 9 673 Total banks/financial institutions 0 8,757 78 8,835 Other corporate: Third-party pricing vendor 0 18,088 4 18,092 Internal 0 4,210 230 4,440 Broker/other 0 5,396 414 5,810 Total other corporate 0 27,694 648 28,342 Total securities available-for-sale $ 21,700 $ 49,809 $ 1,781 $ 73,290 Equity securities, carried at fair value: Third-party pricing vendor $ 800 $ 0 $ 0 $ 800 Internal 0 0 216 216 Broker/other 40 0 32 72 Total equity securities $ 840 $ 0 $ 248 $ 1,088
Fair Value, Assets Carried At Amortized Cost, Primary Pricing Sources	June 30, 2024 (In millions) Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs Total Securities held-to-maturity, carried at amortized cost: Fixed maturity securities: Government and agencies: Third-party pricing vendor $ 15,727 $ 140 $ 0 $ 15,867 Total government and agencies 15,727 140 0 15,867 Municipalities: Third-party pricing vendor 0 256 0 256 Total municipalities 0 256 0 256 Public utilities: Third-party pricing vendor 0 32 0 32 Total public utilities 0 32 0 32 Sovereign and supranational: Third-party pricing vendor 0 196 0 196 Internal 0 202 0 202 Total sovereign and supranational 0 398 0 398 Other corporate: Third-party pricing vendor 0 17 0 17 Total other corporate 0 17 0 17 Total securities held-to-maturity $ 15,727 $ 843 $ 0 $ 16,570 December 31, 2023 (In millions) Quoted Prices in Active Markets Significant Observable Significant Unobservable Inputs Total Securities held-to-maturity, carried at amortized cost: Fixed maturity securities: Government and agencies: Third-party pricing vendor $ 18,662 $ 167 $ 0 $ 18,829 Total government and agencies 18,662 167 0 18,829 Municipalities: Third-party pricing vendor 0 307 0 307 Total municipalities 0 307 0 307 Public utilities: Third-party pricing vendor 0 38 0 38 Total public utilities 0 38 0 38 Sovereign and supranational: Third-party pricing vendor 0 226 0 226 Internal 0 236 0 236 Total sovereign and supranational 0 462 0 462 Other corporate: Third-party pricing vendor 0 21 0 21 Total other corporate 0 21 0 21 Total securities held-to-maturity $ 18,662 $ 995 $ 0 $ 19,657
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following tables present the changes in fair value of the Company's investments carried at fair value classified as Level 3. Three Months Ended June 30, 2024 Fixed Maturity Securities Equity (In millions) Mortgage- Public Sovereign Banks/ Other Total Balance, beginning of period $ 859 $ 507 $ 28 $ 74 $ 450 $ 159 $ 2,077 Net investment gains (losses) included 1 0 0 0 0 (2) (1) Unrealized gains (losses) included in (5) (1) (1) (5) (5) 0 (17) Purchases, issuances, sales and Purchases 189 39 0 0 58 0 286 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (21) (3) (2) 0 0 0 (26) Transfers into Level 3 190 56 0 0 0 0 246 Transfers out of Level 3 0 (233) 0 0 (119) 0 (352) Balance, end of period $ 1,213 $ 365 $ 25 $ 69 $ 384 $ 157 $ 2,213 Changes in unrealized gains (losses) $ 1 $ 0 $ 0 $ 0 $ 0 $ (3) $ (2) Three Months Ended June 30, 2023 Fixed Maturity Securities Equity (In millions) Mortgage- Public Sovereign Banks/ Other Total Balance, beginning of period $ 418 $ 350 $ 37 $ 161 $ 753 $ 221 $ 1,940 Net investment gains (losses) included 0 0 0 0 0 (8) (8) Unrealized gains (losses) included in (13) (16) (3) 2 (22) 0 (52) Purchases, issuances, sales and Purchases 136 0 0 0 37 0 173 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (13) (2) (2) (7) (1) 0 (25) Transfers into Level 3 124 0 0 0 0 0 124 Transfers out of Level 3 0 (30) 0 (87) (195) 0 (312) Balance, end of period $ 652 $ 302 $ 32 $ 69 $ 572 $ 213 $ 1,840 Changes in unrealized gains (losses) $ 0 $ 0 $ 0 $ 0 $ 0 $ (8) $ (8) Six Months Ended June 30, 2024 Fixed Maturity Securities Equity (In millions) Mortgage- Public Sovereign Banks/ Other Total Balance, beginning of period $ 772 $ 253 $ 30 $ 78 $ 648 $ 248 $ 2,029 Net investment gains (losses) included 2 0 0 0 0 (7) (5) Unrealized gains (losses) included in (9) (11) (3) (9) (4) 0 (36) Purchases, issuances, sales Purchases 307 99 0 5 95 0 506 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (49) (25) (2) (5) (3) (84) (168) Transfers into Level 3 190 282 0 0 0 0 472 Transfers out of Level 3 0 (233) 0 0 (352) 0 (585) Balance, end of period $ 1,213 $ 365 $ 25 $ 69 $ 384 $ 157 $ 2,213 Changes in unrealized gains $ 2 $ 0 $ 0 $ 0 $ 0 $ (6) $ (4) Six Months Ended June 30, 2023 Fixed Maturity Securities Equity (In millions) Mortgage- Public Sovereign Banks/ Other Total Balance, beginning of period $ 343 $ 497 $ 37 $ 159 $ 742 $ 209 $ 1,987 Net investment gains (losses) included 0 0 0 0 0 (6) (6) Unrealized gains (losses) included in (10) (6) (3) 4 8 0 (7) Purchases, issuances, sales and Purchases 328 0 0 0 112 10 450 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (133) (9) (2) (7) (3) 0 (154) Transfers into Level 3 124 18 0 0 0 0 142 Transfers out of Level 3 0 (198) 0 (87) (287) 0 (572) Balance, end of period $ 652 $ 302 $ 32 $ 69 $ 572 $ 213 $ 1,840 Changes in unrealized gains $ 0 $ 0 $ 0 $ 0 $ 0 $ (5) $ (5)
Fair Value Measurement Inputs and Valuation Techniques	Level 3 Significant Unobservable Input Sensitivity The following tables summarize the significant unobservable inputs used in the valuation of the Company's Level 3 investments carried at fair value. Included in the tables are the inputs or range of possible inputs that have an effect on the overall valuation of the financial instruments. June 30, 2024 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Weighted Average Assets: Securities available-for-sale, carried at fair value: Fixed maturity securities: Mortgage- and asset-backed securities $ 1,213 Consensus pricing Offered quotes 85.46 - 104.49 (a) 98.74 Public utilities 365 Discounted cash flow Credit spreads 175 bps - 225 bps (c) 209 bps Sovereign and supranational 25 Consensus pricing Offered quotes N/A (b) N/A Banks/financial institutions 69 Discounted cash flow Credit spreads N/A (b) N/A Other corporate 384 Discounted cash flow Credit spreads 89 bps - 363 bps (c) 224 bps Equity securities 157 Adjusted cost Private financials N/A (d) N/A Total assets $ 2,213 (a) Represents prices for securities where the Company receives unadjusted broker quotes and for which there is no transparency into the providers' valuation techniques. (b) Category represents a single security; range not applicable. (c) Actual or equivalent credit spreads in basis points. (d) Prices do not utilize credit spreads; therefore, range is not applicable. December 31, 2023 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Weighted Average Assets: Securities available-for-sale, carried at fair value: Fixed maturity securities: Mortgage- and asset-backed securities $ 772 Consensus pricing Offered quotes 84.81 - 105.89 (a) 99.39 Public utilities 253 Consensus pricing Offered quotes 94.34 - 102.99 (a) 96.46 Sovereign and supranational 30 Consensus pricing Offered quotes N/A (b) N/A Banks/financial institutions 78 Discounted cash flow Credit spreads N/A (b) N/A Other corporate 648 Discounted cash flow Credit spreads 69 bps - 423 bps (c) 206 bps Equity securities 248 Adjusted cost Private financials N/A (d) N/A Total assets $ 2,029 (a) Represents prices for securities where the Company receives unadjusted broker quotes and for which there is no transparency into the providers' valuation techniques. (b) Category represents a single security; range not applicable. (c) Actual or equivalent credit spreads in basis points. (d) Prices do not utilize credit spreads; therefore, range is not applicable

DEFERRED POLICY ACQUISITION C_2

DEFERRED POLICY ACQUISITION COSTS (Tables)	6 Months Ended
	Jun. 30, 2024
Insurance [Abstract]
Schedule Of Deferred Policy Acquisition Costs	The following tables present a rollforward of deferred policy acquisition costs by reporting segment and disaggregated by product type. June 30, 2024 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Total Deferred policy acquisition costs: Balance at December 31, 2023 $ 2,971 $ 2,041 $ 491 $ 56 $ 917 $ 625 $ 1,336 $ 436 $ 86 $ 172 $ 1 $ 9,132 Capitalization 146 55 15 2 68 62 81 41 6 31 1 508 Amortization expense (92) (50) (16) (2) (72) (59) (77) (36) (6) (14) 0 (424) Foreign currency translation and (358) (244) (58) (6) 0 0 0 0 0 0 0 (666) Balance at June 30, 2024 $ 2,667 $ 1,802 $ 432 $ 50 $ 913 $ 628 $ 1,340 $ 441 $ 86 $ 189 $ 2 $ 8,550 December 31, 2023 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Total Deferred policy acquisition costs: Balance at December 31, 2022 $ 3,035 $ 2,161 $ 525 $ 55 $ 904 $ 613 $ 1,304 $ 418 $ 88 $ 135 $ 1 $ 9,239 Capitalization 317 123 33 8 151 125 173 84 10 61 1 1,086 Amortization expense (184) (105) (34) (3) (138) (113) (141) (66) (12) (24) 4 (816) Foreign currency translation and (197) (138) (33) (4) 0 0 0 0 0 0 (5) (377) Balance at December 31, 2023 $ 2,971 $ 2,041 $ 491 $ 56 $ 917 $ 625 $ 1,336 $ 436 $ 86 $ 172 $ 1 $ 9,132

POLICY LIABILITIES (Tables)

POLICY LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2024
Insurance Loss Reserves [Abstract]
Schedule of Changes in Present Value of Expected Net Premiums and Expected Future Policy Benefits	The following tables present the changes in the present value of expected future net premiums and the present value of expected future policy benefits by reporting segment and disaggregated by product type. The present value of expected future net premiums and the present value of expected future policy benefits are presented gross of internal and external ceded reinsurance. June 30, 2024 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future net premiums: Balance at December 31, 2023 $ 17,509 $ 14,697 $ 6,488 $ 1,088 $ 2,488 $ 1,652 $ 4,074 $ 1,107 $ 206 $ 853 $ 277 Beginning balance at original discount rate 16,452 14,040 6,258 1,069 2,630 1,738 4,416 1,193 217 909 272 Effect of changes in cash flow assumptions 0 0 0 0 0 0 0 0 0 0 0 Effect of actual variances from expected (77) (84) (39) (8) 3 0 (60) (6) (7) (18) 11 Adjusted beginning of period balance 16,375 13,956 6,219 1,061 2,633 1,738 4,356 1,187 210 891 283 Issuances 439 193 105 10 174 203 323 138 29 117 264 Interest accrual 189 149 55 9 52 33 87 22 4 18 9 Net premiums collected (1) (721) (565) (435) (50) (236) (201) (286) (120) (20) (76) (20) Foreign currency translation (1,956) (1,661) (730) (127) 0 0 0 0 0 0 0 Other 0 0 0 0 (3) (4) (3) 0 1 (3) (4) Ending balance at original discount rate 14,326 12,072 5,214 903 2,620 1,769 4,477 1,227 224 947 532 Effect of changes in discount rate assumptions 326 47 64 (12) (197) (108) (472) (109) (16) (73) 0 Balance at June 30, 2024 $ 14,652 $ 12,119 $ 5,278 $ 891 $ 2,423 $ 1,661 $ 4,005 $ 1,118 $ 208 $ 874 $ 532 Present value of expected future policy benefits: Balance at December 31, 2023 $ 50,161 $ 25,257 $ 29,731 $ 5,178 $ 3,109 $ 2,422 $ 11,290 $ 1,943 $ 478 $ 1,764 $ 798 Beginning balance at original discount rate 43,626 25,023 30,256 5,444 3,302 2,541 12,120 2,076 506 1,971 769 Effect of changes in cash flow assumptions 0 0 0 0 0 0 0 0 0 0 0 Effect of actual variances from expected (105) (97) (46) (14) 0 (11) (84) (13) (9) (25) 11 Adjusted beginning of period balance 43,521 24,926 30,210 5,430 3,302 2,530 12,036 2,063 497 1,946 780 Issuances 448 199 107 12 179 212 336 144 30 121 265 Interest accrual 672 280 287 46 65 49 258 41 10 38 22 Benefit payments (1,357) (497) (827) (97) (259) (229) (460) (154) (29) (57) (42) Foreign currency translation (5,192) (2,983) (3,585) (647) 0 0 0 0 0 0 0 Other 0 0 0 0 (1) 0 0 1 0 0 2 Ending balance at original discount rate 38,092 21,925 26,192 4,744 3,286 2,562 12,170 2,095 508 2,048 1,027 Effect of changes in discount rate assumptions 3,456 (1,230) (1,822) (500) (266) (157) (1,323) (188) (40) (280) (2) Balance at June 30, 2024 41,548 20,695 24,370 4,244 3,020 2,405 10,847 1,907 468 1,768 1,025 Net liability for future policy benefits 26,896 8,576 19,092 3,353 597 744 6,842 789 260 894 493 Less: reinsurance recoverable 3,420 1,247 0 0 0 0 0 0 0 15 1 Net liability for future policy benefits after $ 23,476 $ 7,329 $ 19,092 $ 3,353 $ 597 $ 744 $ 6,842 $ 789 $ 260 $ 879 $ 492 (1) Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments. December 31, 2023 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future net premiums: Balance at December 31, 2022 $ 19,298 $ 16,714 $ 7,485 $ 1,256 $ 2,534 $ 1,635 $ 4,486 $ 1,220 $ 211 $ 724 $ 110 Beginning balance at original discount rate 18,221 16,195 7,284 1,242 2,760 1,775 5,050 1,365 231 799 118 Effect of changes in cash flow assumptions (165) (470) 43 (12) (16) (51) (494) (142) (9) 61 (9) Effect of actual variances from expected (315) (137) (42) (15) (58) (29) (223) (73) (17) (25) (2) Adjusted beginning of period balance 17,741 15,588 7,285 1,215 2,686 1,695 4,333 1,150 205 835 107 Issuances 1,034 418 335 26 323 376 493 249 44 181 169 Interest accrual 412 334 124 20 102 62 179 45 8 31 6 Net premiums collected (1) (1,564) (1,261) (1,017) (112) (473) (390) (580) (247) (39) (137) (17) Foreign currency translation (1,170) (1,038) (469) (80) 0 0 0 0 0 0 0 Other (1) (1) 0 0 (8) (5) (9) (4) (1) (1) 7 Ending balance at original discount rate 16,452 14,040 6,258 1,069 2,630 1,738 4,416 1,193 217 909 272 Effect of changes in discount rate assumptions 1,057 657 230 19 (142) (86) (342) (86) (11) (56) 5 Balance at December 31, 2023 $ 17,509 $ 14,697 $ 6,488 $ 1,088 $ 2,488 $ 1,652 $ 4,074 $ 1,107 $ 206 $ 853 $ 277 Present value of expected future policy benefits: Balance at December 31, 2022 $ 54,766 $ 27,419 $ 31,954 $ 5,582 $ 3,098 $ 2,445 $ 11,489 $ 2,074 $ 488 $ 1,526 $ 622 Beginning balance at original discount rate 47,677 27,566 32,800 5,940 3,391 2,636 12,846 2,300 532 1,778 624 Effect of changes in cash flow assumptions (147) (507) 65 (27) (11) (59) (592) (194) (14) 72 (13) Effect of actual variances from expected (385) (154) (51) (15) (75) (59) (271) (99) (22) (32) (4) Adjusted beginning of period balance 47,145 26,905 32,814 5,898 3,305 2,518 11,983 2,007 496 1,818 607 Issuances 1,059 432 341 32 331 392 505 258 46 185 169 Interest accrual 1,473 608 625 100 127 96 524 84 21 68 33 Benefit payments (2,987) (1,153) (1,415) (206) (464) (465) (893) (274) (59) (105) (48) Foreign currency translation (3,064) (1,769) (2,109) (380) 0 0 0 0 0 0 0 Other 0 0 0 0 3 0 1 1 2 5 8 Ending balance at original discount rate 43,626 25,023 30,256 5,444 3,302 2,541 12,120 2,076 506 1,971 769 Effect of changes in discount rate assumptions 6,535 234 (525) (266) (193) (119) (830) (133) (28) (207) 29 Balance at December 31, 2023 50,161 25,257 29,731 5,178 3,109 2,422 11,290 1,943 478 1,764 798 Net liability for future policy benefits 32,652 10,560 23,243 4,090 621 770 7,216 836 272 911 521 Less: reinsurance recoverable 4,135 1,521 0 0 0 0 0 0 0 15 0 Net liability for future policy benefits after $ 28,517 $ 9,039 $ 23,243 $ 4,090 $ 621 $ 770 $ 7,216 $ 836 $ 272 $ 896 $ 521 (1) Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments.
Schedule of Weighted-Average Interest Rate and Liability for Future Policy Benefit	The following tables present the weighted-average interest rates and weighted-average liability duration (calculated using the original discount rate) by reporting segment and disaggregated by product type. June 30, 2024 Aflac Japan Aflac U.S. Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Weighted-average interest, original discount rate (1) 3.9 % 2.5 % 2.1 % 1.8 % 3.9 % 4.3 % 4.5 % 4.5 % 4.3 % 3.8 % 5.4 % Weighted-average interest, current discount rate (1) 2.2 % 2.7 % 2.0 % 2.4 % 5.4 % 5.3 % 5.4 % 5.4 % 5.4 % 5.4 % 5.4 % Weighted-average liability duration (years) 13.0 24.4 16.1 17.0 8.0 5.6 11.2 9.2 7.8 13.7 9.1 (1) The weighted-average interest rates are calculated using the reserve balances as the weights. No adjustments were made to observable market information. December 31, 2023 Aflac Japan Aflac U.S. Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Weighted-average interest, original discount rate (1) 3.9 % 2.6 % 2.1 % 1.8 % 3.9 % 4.2 % 4.6 % 4.4 % 4.3 % 3.7 % 5.4 % Weighted-average interest, current discount rate (1) 1.8 % 2.3 % 1.7 % 2.1 % 5.3 % 5.3 % 5.3 % 5.3 % 5.3 % 5.3 % 5.3 % Weighted-average liability duration (years) 13.1 24.9 16.3 17.3 8.1 5.6 11.3 9.3 7.9 13.6 9.4 (1) The weighted-average interest rates are calculated using the reserve balances as the weights. No adjustments were made to observable market information.
Reconciliation of Future Policy Benefits	The following table presents a reconciliation of the disaggregated rollforwards above to the ending future policy benefits presented in the consolidated balance sheets. The deferred profit liability for limited-payment contracts and the deferred reinsurance gain liability are presented together with the liability for future policy benefits in the consolidated balance sheets and have been included as reconciling items in the table below. (In millions) June 30, December 31, 2023 Balances included in future policy benefits rollforward: Aflac Japan Cancer $ 26,896 $ 32,652 Medical and other health 8,576 10,560 Life insurance 19,092 23,243 Other 3,353 4,090 Aflac U.S. Accident 597 621 Disability 744 770 Critical care 6,842 7,216 Hospital indemnity 789 836 Dental/vision 260 272 Life insurance 894 911 Other 493 521 Corporate and other 3,405 4,225 Deferred profit liability 1,667 1,806 Deferred reinsurance gain liability 820 1,012 Intercompany eliminations (1) (4,089) (5,017) Total $ 70,339 $ 83,718 (1) Elimination entry necessary due to the internal reinsurance transactions with Aflac Re and to recapture a portion of policy liabilities ceded externally as a result of the reinsurance retrocession transaction. See Note 8 of the Notes to the Consolidated Financial Statements in the 2023 Annual Report.
Summary of Net Earned Premiums Recognized	The following table summarizes the amount of net earned premiums recognized in the consolidated statements of earnings by reporting segment and disaggregated by product type. Three Months Ended June 30, Six Months Ended June 30, (In millions) 2024 2023 2024 2023 Net earned premiums: Aflac Japan Cancer $ 832 $ 1,054 $ 1,710 $ 2,149 Medical and other health 570 672 1,175 1,377 Life insurance 316 390 655 812 Other 35 38 69 77 Aflac U.S. Accident 316 322 641 652 Disability 332 318 665 627 Critical care 441 439 885 882 Hospital indemnity 182 182 367 367 Dental/vision 46 53 105 107 Life insurance 141 115 279 228 Other 25 9 45 19 Corporate and other 155 84 320 175 Reinsurance ceded (66) (103) (135) (210) Total $ 3,325 $ 3,573 $ 6,781 $ 7,262
Summary of Interest Expense Related to Insurance Contracts Recognized	The following table summarizes the amount of interest expense related to insurance contracts recognized in total benefits and claims, net in the consolidated statements of earnings by reporting segment and disaggregated by product type. Three Months Ended June 30, Six Months Ended June 30, (In millions) 2024 2023 2024 2023 Interest expense: Aflac Japan Cancer $ 237 $ 276 $ 483 $ 561 Medical and other health 66 72 131 143 Life insurance 114 130 232 263 Other 18 20 37 42 Aflac U.S. Accident 7 6 13 12 Disability 8 10 16 18 Critical care 86 86 171 173 Hospital indemnity 10 10 19 20 Dental/vision 3 3 6 6 Life insurance 10 10 20 19 Other 6 6 13 13 Total $ 565 $ 629 $ 1,141 $ 1,270
Summary of Undiscounted and Discounted Expected Future Gross Premiums and Future Benefits and Expenses	The following tables summarize the amount of undiscounted expected future gross premiums and expected future policy benefits and expenses and discounted (discounted at the current period discount rate) expected future gross premiums and expected future policy benefits and expenses by reporting segment and disaggregated by product type. These tables are presented gross of internal and external ceded reinsurance. Future gross premiums represent the expected amount of future premiums to be received. For limited-payment policies, the premiums are collected over a shorter period than the policy term over which benefits are provided. As a result, once the policy reaches premium paid-up status, the future gross premiums can be significantly less than the future benefit payments. Further, benefits and expenses are generally greater in the later years of a policy. These are the primary factors that result in future gross premiums lower than future benefit and expense payments for certain lines of business of the Company. June 30, 2024 December 31, 2023 (In millions) Gross Benefits and Expenses Gross Premiums Benefits and Expenses Undiscounted expected future gross premiums and expected future policy benefits and expenses: Aflac Japan Cancer $ 51,506 $ 57,838 $ 59,169 $ 66,427 Medical and other health 33,233 34,968 38,583 39,884 Life insurance 10,707 36,842 12,677 42,541 Other 1,523 6,467 1,781 7,448 Aflac U.S. Accident 9,047 4,533 9,095 4,548 Disability 5,811 3,213 5,776 3,177 Critical care 19,966 20,670 19,886 20,626 Hospital indemnity 4,964 3,055 4,922 3,025 Dental/vision 1,154 729 1,162 726 Life insurance 2,865 3,432 2,719 3,260 Other 1,352 1,816 724 1,396 Total $ 142,128 $ 173,563 $ 156,494 $ 193,058 June 30, 2024 December 31, 2023 (In millions) Gross Premiums Benefits and Expenses Gross Premiums Benefits and Expenses Discounted expected future gross premiums and expected future policy benefits and expenses: Aflac Japan Cancer $ 40,474 $ 41,548 $ 48,363 $ 50,161 Medical and other health 25,392 20,695 30,757 25,257 Life insurance 9,226 24,370 11,240 29,731 Other 1,250 4,244 1,512 5,178 Aflac U.S. Accident 6,184 3,020 6,369 3,109 Disability 4,434 2,405 4,488 2,422 Critical care 12,076 10,847 12,417 11,290 Hospital indemnity 3,369 1,907 3,419 1,943 Dental/vision 780 468 807 478 Life insurance 1,968 1,768 1,914 1,764 Other 826 1,025 467 798 Total $ 105,979 $ 112,297 $ 121,753 $ 132,131
Schedule of Changes in Other Policyholders' Funds	The following table presents the changes in other policyholders’ funds. (In millions) June 30, December 31, Other policyholders' funds: Fixed annuities account balance, beginning of period (1) $ 5,939 $ 6,423 Premiums received 51 126 Transfers from WAYS conversions 116 229 Surrenders and withdrawals (31) (59) Benefit payments (208) (419) Interest credited 24 53 Foreign currency translation and other (711) (414) Fixed annuities account balance, end of period 5,180 5,939 Other deposit type reserves 259 230 Total $ 5,439 $ 6,169 (1) Aflac Japan fixed annuities
Schedule of Other Policyholders' Funds by Guaranteed Crediting Rates	The following table presents other policyholders’ funds balances by range of guaranteed crediting rates. June 30, 2024 December 31, 2023 (In millions) Range of Guaranteed Minimum Crediting Rates (2) At Guaranteed Minimum Cash Surrender Value Range of Guaranteed Minimum Crediting Rates (2) At Guaranteed Minimum Cash Surrender Value Fixed annuities (1) 0.5% - 2.2% $5,180 $5,106 0.5% - 2.3% $5,939 $5,850 (1) Aflac Japan fixed annuities (2) Weighted-average crediting rate of 1.5% at June 30, 2024 and December 31, 2023.

REINSURANCE (Tables)

REINSURANCE (Tables)	6 Months Ended
	Jun. 30, 2024
Reinsurance Disclosures [Abstract]
Effects of Reinsurance	The following table reconciles direct earned premiums, direct benefits and claims, excluding reserve remeasurement gains and losses, and reserve remeasurement gains and losses to net amounts after the effect of reinsurance. Three Months Ended June 30, Six Months Ended June 30, (In millions) 2024 2023 2024 2023 Direct earned premiums $ 3,352 $ 3,623 $ 6,834 $ 7,361 Ceded to other companies: Ceded Aflac Japan closed blocks (31) (80) (65) (165) Other (35) (23) (70) (45) Assumed from other companies: Retrocession activities 27 30 56 64 Other 12 23 26 47 Net earned premiums $ 3,325 $ 3,573 $ 6,781 $ 7,262 Direct benefits and claims, excluding reserve remeasurement $ 1,995 $ 2,182 $ 4,077 $ 4,438 Ceded benefits and change in reserves for future benefits: Ceded Aflac Japan closed blocks (17) (74) (35) (151) Other (19) 6 (33) (21) Assumed from other companies: Retrocession activities 12 20 25 61 Other 1 18 5 27 Benefits and claims, excluding reserve remeasurement $ 1,972 $ 2,152 $ 4,039 $ 4,354 Direct reserve remeasurement (gains) losses $ (51) $ (54) $ (108) $ (107) Ceded reserve remeasurement gains (losses) 0 0 1 0 Assumed reserve remeasurement (gains) losses 0 0 0 0 Reserve remeasurement (gains) losses $ (51) $ (54) $ (107) $ (107) Total benefits and claims, net $ 1,921 $ 2,098 $ 3,932 $ 4,247

NOTES PAYABLE AND LEASE OBLIG_2

NOTES PAYABLE AND LEASE OBLIGATIONS (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	A summary of notes payable and lease obligations follows: (In millions) June 30, December 31, 1.125% senior sustainability notes due March 2026 $ 399 $ 398 2.875% senior notes due October 2026 299 299 3.60% senior notes due April 2030 993 993 6.90% senior notes due December 2039 221 221 6.45% senior notes due August 2040 255 254 4.00% senior notes due October 2046 394 394 4.750% senior notes due January 2049 542 542 Yen-denominated senior notes and subordinated debentures: .300% senior notes due September 2025 (principal amount ¥12.4 billion) 77 87 .932% senior notes due January 2027 (principal amount ¥60.0 billion) 371 422 1.048% senior notes due March 2029 (principal amount ¥13.0 billion) 80 0 1.075% senior notes due September 2029 (principal amount ¥33.4 billion) 207 234 .500% senior notes due December 2029 (principal amount ¥12.6 billion) 78 88 .550% senior notes due March 2030 (principal amount ¥13.3 billion) 82 93 1.159% senior notes due October 2030 (principal amount ¥29.3 billion) 181 206 1.412% senior notes due March 2031 (principal amount ¥27.9 billion) 172 0 .633% senior notes due April 2031 (principal amount ¥30.0 billion) 186 211 .843% senior notes due December 2031 (principal amount ¥9.3 billion) 57 65 .750% senior notes due March 2032 (principal amount ¥20.7 billion) 128 145 1.320% senior notes due December 2032 (principal amount ¥21.1 billion) 130 148 .844% senior notes due April 2033 (principal amount ¥12.0 billion) 74 84 1.488% senior notes due October 2033 (principal amount ¥15.2 billion) 94 106 1.682% senior notes due March 2034 (principal amount ¥7.7 billion) 48 0 1.600% senior notes due March 2034 (principal amount ¥18.3 billion) 112 0 .934% senior notes due December 2034 (principal amount ¥9.8 billion) 60 69 .830% senior notes due March 2035 (principal amount ¥10.6 billion) 65 74 1.740% senior notes due March 2036 (principal amount ¥15.0 billion) 92 0 1.039% senior notes due April 2036 (principal amount ¥10.0 billion) 61 70 1.594% senior notes due September 2037 (principal amount ¥6.5 billion) 40 45 1.750% senior notes due October 2038 (principal amount ¥8.9 billion) 55 62 1.920% senior notes due March 2039 (principal amount ¥16.5 billion) 101 0 1.122% senior notes due December 2039 (principal amount ¥6.3 billion) 39 44 1.264% senior notes due April 2041 (principal amount ¥10.0 billion) 62 70 2.160% senior notes due March 2044 (principal amount ¥5.7 billion) 35 0 2.108% subordinated debentures due October 2047 (principal amount ¥60.0 billion) 368 419 .963% subordinated bonds paid April 2024 (principal amount ¥30.0 billion) 0 211 1.560% senior notes due April 2051 (principal amount ¥20.0 billion) 123 140 2.144% senior notes due September 2052 (principal amount ¥12.0 billion) 74 84 1.958% subordinated bonds due December 2053 (principal amount ¥30.0 billion) 185 210 2.400% senior notes due March 2054 (principal amount ¥19.5 billion) 119 0 Yen-denominated loans: Variable interest rate loan due August 2027 (.55% in 2024 and .35% in 2023, principal amount ¥11.7 billion) 73 82 Variable interest rate loan due August 2029 (.65% in 2024 and .45% in 2023, principal amount ¥25.3 billion) 157 178 Variable interest rate loan due August 2032 (.80% in 2024 and .60% in 2023, principal amount ¥70.0 billion) 433 492 Finance lease obligations payable through 2030 5 6 Operating lease obligations payable through 2049 103 118 Total notes payable and lease obligations $ 7,430 $ 7,364 Amounts in the table above are reported net of debt issuance costs and issuance premiums or discounts, if applicable, that are being amortized over the life of the notes.
Schedule of Line of Credit Facilities	A summary of the Company's lines of credit as of June 30, 2024 follows: Borrower(s) Type Term Expiration Date Capacity Amount Outstanding Interest Rate on Borrowed Amount Maturity Period Commitment Fee Business Purpose Aflac Incorporated uncommitted bilateral 364 days December 6, 2024 $100 million $0 million The rate quoted by the bank and agreed upon at the time of borrowing Up to 3 months None General corporate purposes Aflac Incorporated unsecured revolving 5 years May 9, ¥100.0 billion ¥0.0 billion A rate per annum equal to (a) Tokyo Interbank Market Rate (TIBOR) plus, the alternative applicable TIBOR margin during the availability period from the closing date to the commitment termination date or (b) the TIBOR rate offered by the agent to major banks in yen for the applicable period plus, the applicable alternative TIBOR margin during the term out period No later than .28% to .45%, depending on the Parent Company's debt ratings as of the date of determination General corporate purposes, including a capital contingency plan for the operations of the Parent Company Aflac Incorporated unsecured revolving 5 years November 15, 2027, or the date commitments are terminated pursuant to an event of default $1.0 billion $0.0 billion A rate per annum equal to, at the Company's option, either, (a) Secured Overnight Financing Rate (SOFR) for U.S. dollar-denominated borrowings or TIBOR for Japanese yen-denominated borrowings, in either case adjusted for certain costs, or (b) a base rate determined by reference to the highest of (1) the federal funds rate plus 1/2 of 1%, (2) the rate of interest for such day announced by the agent as its prime rate, or (3) SOFR for an interest period of one month plus 1.00%, in each case plus an applicable margin No later than November 15, 2027 .08% to .20%, depending on the Parent Company's debt ratings as of the date of determination General corporate purposes, including a capital contingency plan for the operations of the Parent Company Aflac Incorporated uncommitted bilateral None specified None specified $50 million $0 million A rate per annum equal to, at the Parent Company's option, either (a) a rate determined by reference to SOFR for the interest period relevant to such borrowing or (b) the base rate determined by reference to the highest of (1) the lender's USD short-term commercial loan rate and (2) the federal funds rate plus 1/2 of 1% Up to 3 months None General corporate purposes Aflac (1) uncommitted revolving 364 days December 2, 2024 $250 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum No later than December 3, 2024 None General corporate purposes Aflac Incorporated (1) (Tranche 1) uncommitted revolving 364 days November 25, 2024 ¥50.0 billion ¥0.0 billion Three-month yen TIBOR plus 75 basis points per annum No later than November 26, 2024 None General corporate purposes Aflac Incorporated (1) (Tranche 2) uncommitted revolving 364 days November 25, 2024 ¥50.0 billion ¥0.0 billion Three-month yen TIBOR plus 75 basis points per annum No later than November 26, 2024 None General corporate purposes Aflac New York (1) uncommitted revolving 364 days December 2, $25 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum No later than None General corporate purposes CAIC (1) uncommitted revolving 364 days December 2, $15 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum No later than None General corporate purposes (1) Intercompany credit agreement (continued) Borrower(s) Type Term Expiration Date Capacity Amount Outstanding Interest Rate on Borrowed Amount Maturity Period Commitment Fee Business Purpose TOIC (1) uncommitted revolving 364 days December 2, $0.3 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum No later than None General corporate purposes Aflac GI Holdings LLC (1) uncommitted revolving 364 days December 2, $30 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum No later than None General corporate purposes Aflac Incorporated (1) uncommitted revolving 364 days December 2, $400 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 97 basis points per annum for U.S. dollar-denominated borrowings or three-month TIBOR plus 97 basis points per annum for Japanese yen-denominated borrowings No later than None General corporate purposes Aflac Re (1) uncommitted revolving 364 days December 2, $400 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 68 basis points per annum for U.S. dollar-denominated borrowings or three-month TIBOR plus 68 basis points per annum for Japanese yen-denominated borrowings No later than None General corporate purposes Aflac Asset Management LLC (1) uncommitted revolving 214 days December 2, $25 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 68 basis points per annum for U.S. dollar-denominated borrowings or three-month TIBOR plus 68 basis points per annum for Japanese yen-denominated borrowings No later than None General corporate purposes Aflac Global Ventures LLC (1) uncommitted revolving 214 days December 2, $2 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 68 basis points per annum for U.S. dollar-denominated borrowings or three-month TIBOR plus 68 basis points per annum for Japanese yen-denominated borrowings No later than None General corporate purposes (1) Intercompany credit agreement

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Common Stock Outstanding Roll Forward	The following table is a reconciliation of the number of shares of the Company's common stock for the six-month periods ended June 30. (In thousands of shares) 2024 2023 Common stock - issued: Balance, beginning of period 1,355,398 1,354,079 Exercise of stock options and issuance of restricted shares 1,220 1,148 Balance, end of period 1,356,618 1,355,227 Treasury stock: Balance, beginning of period 776,919 738,823 Purchases of treasury stock: Share repurchase program 18,564 20,809 Other 480 354 Dispositions of treasury stock: Shares issued to AFL Stock Plan (430) (498) Exercise of stock options (98) (52) Other (186) (178) Balance, end of period 795,249 759,258 Shares outstanding, end of period 561,369 595,969
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table presents the approximate number of share-based awards to purchase shares, on a weighted-average basis, that were considered to be anti-dilutive and were excluded from the calculation of diluted EPS for the following periods. Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2024 2023 2024 2023 Anti-dilutive share-based awards 0 39 35 102
Changes in Accumulated Other Comprehensive Income (Loss)	The tables below are reconciliations of accumulated other comprehensive income by component for the following periods. Changes in Accumulated Other Comprehensive Income Three Months Ended June 30, 2024 (In millions) Unrealized Foreign Unrealized Unrealized Effect of Changes in Discount Rate Assumptions Pension Total Balance at March 31, 2024 $ (4,666) $ 1,092 $ (26) $ (1,495) $ (7) $ (5,102) Other comprehensive (425) (652) 3 2,920 3 1,849 Amounts reclassified from 0 (39) 1 0 (1) (39) Net current-period other (425) (691) 4 2,920 2 1,810 Balance at June 30, 2024 $ (5,091) $ 401 $ (22) $ 1,425 $ (5) $ (3,292) All amounts in the table above are net of tax. Three Months Ended June 30, 2023 (In millions) Unrealized Foreign Unrealized Unrealized Effect of Changes in Discount Rate Assumptions Pension Liability Adjustment Total Balance at March 31, 2023 $ (3,618) $ 1,289 $ (26) $ (4,894) $ (29) $ (7,278) Other comprehensive (631) 710 0 (165) 45 (41) Amounts reclassified from 0 (21) 1 0 1 (19) Net current-period other (631) 689 1 (165) 46 (60) Balance at June 30, 2023 $ (4,249) $ 1,978 $ (25) $ (5,059) $ 17 $ (7,338) All amounts in the table above are net of tax. Six Months Ended June 30, 2024 (In millions) Unrealized Foreign Unrealized Unrealized Effect of Changes in Discount Rate Assumptions Pension Total Balance at December 31, 2023 $ (4,069) $ 1,139 $ (22) $ (2,560) $ (8) $ (5,520) Other comprehensive (1,022) (566) (2) 3,985 4 2,399 Amounts reclassified from 0 (172) 2 0 (1) (171) Net current-period other (1,022) (738) 0 3,985 3 2,228 Balance at June 30, 2024 $ (5,091) $ 401 $ (22) $ 1,425 $ (5) $ (3,292) All amounts in the table above are net of tax. Six Months Ended June 30, 2023 (In millions) Unrealized Foreign Unrealized Unrealized Effect of Changes in Discount Rate Assumptions Pension Liability Adjustment Total Balance at December 31, 2022 $ (3,564) $ (702) $ (27) $ (2,100) $ (36) $ (6,429) Other comprehensive (685) 2,746 1 (2,959) 52 (845) Amounts reclassified from 0 (66) 1 0 1 (64) Net current-period other (685) 2,680 2 (2,959) 53 (909) Balance at June 30, 2023 $ (4,249) $ 1,978 $ (25) $ (5,059) $ 17 $ (7,338) All amounts in the table above are net of tax.
Reclassification Out Of Accumulated Other Comprehensive Income	The tables below summarize the amounts reclassified from each component of accumulated other comprehensive income into net earnings for the following periods. Reclassifications Out of Accumulated Other Comprehensive Income (In millions) Three Months Ended June 30, 2024 Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Unrealized gains (losses) on available-for-sale $ 50 Net investment gains (losses) (11) Tax (expense) or benefit (1) $ 39 Net of tax Unrealized gains (losses) on derivatives $ (1) Net investment gains (losses) 0 Tax (expense) or benefit (1) $ (1) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ 1 Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 0 Tax (expense) or benefit (1) $ 1 Net of tax Total reclassifications for the period $ 39 Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 12 for additional details). (In millions) Three Months Ended June 30, 2023 Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Unrealized gains (losses) on available-for-sale $ 27 Net investment gains (losses) (6) Tax (expense) or benefit (1) $ 21 Net of tax Unrealized gains (losses) on derivatives $ (1) Net investment gains (losses) 0 Tax (expense) or benefit (1) $ (1) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (1) Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 0 Tax (expense) or benefit (1) $ (1) Net of tax Total reclassifications for the period $ 19 Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 12 for additional details). (In millions) Six Months Ended June 30, 2024 Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Unrealized gains (losses) on available-for-sale $ 218 Net investment gains (losses) (46) Tax (expense) or benefit (1) $ 172 Net of tax Unrealized gains (losses) on derivatives $ (2) Net investment gains (losses) 0 Tax (expense) or benefit (1) $ (2) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ 1 Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 0 Tax (expense) or benefit (1) $ 1 Net of tax Total reclassifications for the period $ 171 Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 12 for additional details). (In millions) Six Months Ended June 30, 2023 Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Unrealized gains (losses) on available-for-sale $ 84 Net investment gains (losses) (18) Tax (expense) or benefit (1) $ 66 Net of tax Unrealized gains (losses) on derivatives $ (1) Net investment gains (losses) 0 Tax (expense) or benefit (1) $ (1) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (1) Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 0 Tax (expense) or benefit (1) $ (1) Net of tax Total reclassifications for the period $ 64 Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 12 for additional details).

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock Options Outstanding and Exercisable	The following table provides information on stock options outstanding and exercisable at June 30, 2024. Stock Weighted-Average Aggregate Weighted-Average Outstanding 744 2.0 $ 42 $ 33.54 Exercisable 744 2.0 42 33.54
Schedule of Nonvested Restricted Stock Units Activity	The following table summarizes restricted stock activity during the six-month period ended June 30, 2024. (In thousands of shares) Shares Weighted-Average Restricted stock at December 31, 2023 2,308 $ 62.96 Granted in 2024 1,254 79.99 Canceled in 2024 (17) 69.33 Vested in 2024 (1,421) 46.83 Restricted stock at June 30, 2024 2,124 $ 73.04

BENEFIT PLANS (Tables)

BENEFIT PLANS (Tables)	6 Months Ended
	Jun. 30, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of Net Benefit Costs	Pension and other postretirement benefit expenses are included in acquisition and operating expenses in the consolidated statements of earnings, which includes other components of net periodic pension cost and postretirement costs (other than service costs) of $2 million and $(45) million for the three-month periods and $4 million and $(43) million for the six-month periods ended June 30, 2024 and 2023, respectively. Total net periodic benefit cost includes the following components: Three Months Ended June 30, Pension Benefits Other Japan U.S. Postretirement Benefits (In millions) 2024 2023 2024 2023 2024 2023 Components of net periodic Service cost $ 3 $ 3 $ 0 $ 3 $ 0 $ 0 Interest cost 2 2 10 10 0 1 Expected return on plan assets (1) (1) (8) (9) 0 0 Amortization of net actuarial loss 0 0 (1) 0 0 1 Curtailment (gain) loss 0 0 0 (49) 0 0 Net periodic (benefit) cost $ 4 $ 4 $ 1 $ (45) $ 0 $ 2 Six Months Ended June 30, Pension Benefits Other Japan U.S. Postretirement Benefits (In millions) 2024 2023 2024 2023 2024 2023 Components of net periodic Service cost $ 7 $ 7 $ 0 $ 7 $ 0 $ 0 Interest cost 4 4 19 21 0 1 Expected return on plan assets (3) (3) (15) (18) 0 0 Amortization of net actuarial loss 0 0 (1) 0 0 1 Curtailment (gain) loss 0 0 0 (49) 0 0 Net periodic (benefit) cost $ 8 $ 8 $ 3 $ (39) $ 0 $ 2

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) segment	Jun. 30, 2023 USD ($)
Significant Accounting Policies [Line Items]
Number of reportable insurance business segments | segment	2
Net cash provided (used) by operating activities	$ 1,104	$ 1,332
Net cash provided (used) by investing activities	$ 2,294	1,488
Revision of prior period, reclassification, adjustment
Significant Accounting Policies [Line Items]
Net cash provided (used) by operating activities		245
Net cash provided (used) by investing activities		$ (245)

BUSINESS SEGMENT INFORMATION -

BUSINESS SEGMENT INFORMATION - Operations by Segment - Revenues (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums	[1]	$ 3,325	$ 3,573	$ 6,781	$ 7,262
Net investment income		1,095	999	2,095	1,942
Other income		22	45	52	90
Total revenues		5,138	5,172	10,575	9,972
Net investment gains (losses)		696	555	1,647	678
Remeasurement gain (loss), deferred profit liability for limited-payment contracts		(2)	(1)	(5)	(1)
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues		4,380	4,513	8,800	9,091
Segment Reconciling Items
Segment Reporting, Revenue Reconciling Item [Line Items]
Amortized hedge costs		7	63	13	122
Amortized hedge income		(34)	(38)	(62)	(67)
Net interest (income) expense from from derivatives associated with certain investment strategies		89	79	177	148
Aflac Japan | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums	[1]	1,715	2,064	3,531	4,234
Net investment income		725	637	1,374	1,248
Other income		7	9	14	18
Total revenues		2,447	2,710	4,919	5,500
Aflac U.S. | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums		1,455	1,425	2,930	2,853
Net investment income		218	203	424	400
Other income		11	35	30	70
Total revenues		1,684	1,663	3,384	3,323
Corporate and other
Segment Reporting, Revenue Reconciling Item [Line Items]
Change in value of federal historic rehabilitation and solar tax credit investments		(30)	(53)	(62)	(105)
Federal historic rehabilitation and solar tax credits, amount		31	56	64	108
Corporate and other | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	[2]	$ 249	$ 140	$ 497	$ 268
[1] Includes a gain (loss) of $(2) and $(1) for the three-month periods and $(5) and $(1) for the six-month periods ended June 30, 2024 and 2023, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts. The change in value of federal historic rehabilitation and solar investments in partnerships of $30 and $53 for the three-month periods and $62 and $105 for the six-month periods ended June 30, 2024, and 2023, respectively, is included as a reduction to net investment income. Tax credits on these investments of $31 and $56 for the three-month periods and $64 and $108 for the six-month periods ended June 30, 2024, and 2023, respectively, have been recorded as an income tax benefit in the consolidated statements of earnings. See Note 3 for additional information on these investments.

BUSINESS SEGMENT INFORMATION _2

BUSINESS SEGMENT INFORMATION - Operations by Segment - Pretax Earnings (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting, Reconciling Item for Adjusted Profit (Loss) from Segment to Consolidated [Line Items]
Other income (loss)		$ 0	$ 35	$ (2)	$ 35
Net investment gains (losses)		696	555	1,647	678
Earnings before income taxes		2,019	1,825	4,190	3,167
Income taxes applicable to pretax adjusted earnings		235	186	438	366
Effect of foreign currency translation on after-tax adjusted earnings		(37)	(25)	(81)	(66)
Remeasurement gain (loss), deferred profit liability for limited-payment contracts		(2)	(1)	(5)	(1)
Operating Segments
Segment Reporting, Reconciling Item for Adjusted Profit (Loss) from Segment to Consolidated [Line Items]
Pretax adjusted earnings		1,270	1,139	2,434	2,273
Segment Reconciling Items
Segment Reporting, Reconciling Item for Adjusted Profit (Loss) from Segment to Consolidated [Line Items]
Amortized hedge costs		7	63	13	122
Amortized hedge income		(34)	(38)	(62)	(67)
Net interest (income) expense from from derivatives associated with certain investment strategies		89	79	177	148
Impact of interest from derivatives associated with notes payable		(9)	(8)	(17)	(22)
Aflac Japan | Operating Segments
Segment Reporting, Reconciling Item for Adjusted Profit (Loss) from Segment to Consolidated [Line Items]
Pretax adjusted earnings	[1]	864	822	1,674	1,610
Aflac U.S. | Operating Segments
Segment Reporting, Reconciling Item for Adjusted Profit (Loss) from Segment to Consolidated [Line Items]
Pretax adjusted earnings		383	369	739	721
Corporate and other
Segment Reporting, Reconciling Item for Adjusted Profit (Loss) from Segment to Consolidated [Line Items]
Change in value of federal historic rehabilitation and solar tax credit investments		(30)	(53)	(62)	(105)
Federal historic rehabilitation and solar tax credits, amount		31	56	64	108
Corporate and other | Operating Segments
Segment Reporting, Reconciling Item for Adjusted Profit (Loss) from Segment to Consolidated [Line Items]
Pretax adjusted earnings	[2]	$ 23	$ (52)	$ 21	$ (58)
[1] Includes a gain (loss) of $(2) and $(1) for the three-month periods and $(5) and $(1) for the six-month periods ended June 30, 2024 and 2023, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts. The change in value of federal historic rehabilitation and solar investments in partnerships of $30 and $53 for the three-month periods and $62 and $105 for the six-month periods ended June 30, 2024, and 2023, respectively, is included as a reduction to net investment income. Tax credits on these investments of $31 and $56 for the three-month periods and $64 and $108 for the six-month periods ended June 30, 2024, and 2023, respectively, have been recorded as an income tax benefit in the consolidated statements of earnings. See Note 3 for additional information on these investments.

BUSINESS SEGMENT INFORMATION _3

BUSINESS SEGMENT INFORMATION - Operations by Segment - Assets (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 120,168	$ 126,724
Aflac Japan
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	92,708	101,541
Aflac U.S.
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	21,755	21,861
Corporate and other
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 5,705	$ 3,322

BUSINESS SEGMENT INFORMATION _4

BUSINESS SEGMENT INFORMATION - Additional Information (Details) - segment	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Number of reportable insurance business segments			2
Aflac Japan
Segment Reporting Information [Line Items]
Percentage of the Company's total adjusted revenues	56%	60%	56%	60%
Percentage of the Company's total assets	77%		77%		80%

INVESTMENTS - Available-for-sal

INVESTMENTS - Available-for-sale Debt Securities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 64,603		$ 70,689
Allowance for Credit Losses	0	$ 0	0	$ 0	$ 0	$ 0
Gross Unrealized Gains	5,971		6,050
Gross Unrealized Losses	4,315		3,449
Fair   Value	66,259		73,290
Yen-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	34,744		40,174
Allowance for Credit Losses	0		0
Gross Unrealized Gains	1,741		2,529
Gross Unrealized Losses	3,192		2,513
Fair   Value	33,293		40,190
Dollar-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	29,859		30,515
Allowance for Credit Losses	0		0
Gross Unrealized Gains	4,230		3,521
Gross Unrealized Losses	1,123		936
Fair   Value	32,966		33,100
Japan government and agencies | Yen-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	19,952		23,067
Allowance for Credit Losses	0		0
Gross Unrealized Gains	524		1,040
Gross Unrealized Losses	2,376		1,696
Fair   Value	18,100		22,411
Municipalities
Debt Securities, Available-for-sale [Line Items]
Fair   Value	2,083		2,298
Municipalities | Yen-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	853		968
Allowance for Credit Losses	0		0
Gross Unrealized Gains	71		115
Gross Unrealized Losses	74		58
Fair   Value	850		1,025
Municipalities | Dollar-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,206		1,246
Allowance for Credit Losses	0		0
Gross Unrealized Gains	76		65
Gross Unrealized Losses	49		38
Fair   Value	1,233		1,273
Mortgage- and asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Fair   Value	3,703		3,086
Mortgage- and asset-backed securities | Yen-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	345		215
Allowance for Credit Losses	0		0
Gross Unrealized Gains	4		6
Gross Unrealized Losses	22		11
Fair   Value	327		210
Mortgage- and asset-backed securities | Dollar-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,064		2,748
Allowance for Credit Losses	0		0
Gross Unrealized Gains	356		184
Gross Unrealized Losses	44		56
Fair   Value	3,376		2,876
Public utilities
Debt Securities, Available-for-sale [Line Items]
Fair   Value	6,826		7,592
Public utilities | Yen-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,821		3,757
Allowance for Credit Losses	0		0
Gross Unrealized Gains	220		325
Gross Unrealized Losses	94		82
Fair   Value	2,947		4,000
Public utilities | Dollar-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,603		3,346
Allowance for Credit Losses	0		0
Gross Unrealized Gains	426		360
Gross Unrealized Losses	150		114
Fair   Value	3,879		3,592
Sovereign and supranational
Debt Securities, Available-for-sale [Line Items]
Fair   Value	460		537
Sovereign and supranational | Yen-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	326		373
Allowance for Credit Losses	0		0
Gross Unrealized Gains	17		24
Gross Unrealized Losses	7		7
Fair   Value	336		390
Sovereign and supranational | Dollar-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	93		122
Allowance for Credit Losses	0		0
Gross Unrealized Gains	34		33
Gross Unrealized Losses	3		8
Fair   Value	124		147
Banks/financial institutions
Debt Securities, Available-for-sale [Line Items]
Fair   Value	8,699		8,835
Banks/financial institutions | Yen-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,258		5,896
Allowance for Credit Losses	0		0
Gross Unrealized Gains	294		320
Gross Unrealized Losses	332		365
Fair   Value	5,220		5,851
Banks/financial institutions | Dollar-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,090		2,676
Allowance for Credit Losses	0		0
Gross Unrealized Gains	439		359
Gross Unrealized Losses	50		51
Fair   Value	3,479		2,984
Other corporate
Debt Securities, Available-for-sale [Line Items]
Fair   Value	26,207		28,342
Other corporate | Yen-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,189		5,898
Allowance for Credit Losses	0		0
Gross Unrealized Gains	611		699
Gross Unrealized Losses	287		294
Fair   Value	5,513		6,303
Other corporate | Dollar-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	18,619		20,186
Allowance for Credit Losses	0		0
Gross Unrealized Gains	2,898		2,518
Gross Unrealized Losses	823		665
Fair   Value	20,694		22,039
U.S. government and agencies | Dollar-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	184		191
Allowance for Credit Losses	0		0
Gross Unrealized Gains	1		2
Gross Unrealized Losses	4		4
Fair   Value	$ 181		$ 189

INVESTMENTS - Held-to-Maturity

INVESTMENTS - Held-to-Maturity Debt Securities (Details) - USD ($) $ in Millions	Jun. 30, 2024		Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 15,690			$ 17,824
Allowance for Credit Loss	5		$ 5	5	$ 5	$ 6	$ 7
Total fixed maturity securities, held-to- maturity, amortized cost	15,685	[1]		17,819
Gross Unrealized Gains	890			1,838
Gross Unrealized Losses	5			0
Fair   Value	16,570			19,657
Yen-denominated
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	15,690			17,824
Allowance for Credit Loss	5			5
Total fixed maturity securities, held-to- maturity, amortized cost	15,685			17,819
Gross Unrealized Gains	890			1,838
Gross Unrealized Losses	5			0
Fair   Value	16,570			19,657
Japan government and agencies | Yen-denominated
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	15,040			17,085
Allowance for Credit Loss	2			2
Total fixed maturity securities, held-to- maturity, amortized cost	15,038			17,083
Gross Unrealized Gains	834			1,746
Gross Unrealized Losses	5			0
Fair   Value	15,867			18,829
Municipalities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	232			266
Fair   Value	256			307
Municipalities | Yen-denominated
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	232			266
Allowance for Credit Loss	0			0
Total fixed maturity securities, held-to- maturity, amortized cost	232			266
Gross Unrealized Gains	24			41
Gross Unrealized Losses	0			0
Fair   Value	256			307
Public utilities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	31			34
Fair   Value	32			38
Public utilities | Yen-denominated
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	31			34
Allowance for Credit Loss	0			0
Total fixed maturity securities, held-to- maturity, amortized cost	31			34
Gross Unrealized Gains	1			4
Gross Unrealized Losses	0			0
Fair   Value	32			38
Sovereign and supranational
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	368			418
Fair   Value	398			462
Sovereign and supranational | Yen-denominated
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	371			421
Allowance for Credit Loss	3			3
Total fixed maturity securities, held-to- maturity, amortized cost	368			418
Gross Unrealized Gains	30			44
Gross Unrealized Losses	0			0
Fair   Value	398			462
Other corporate
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	16			18
Fair   Value	17			21
Other corporate | Yen-denominated
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	16			18
Allowance for Credit Loss	0			0
Total fixed maturity securities, held-to- maturity, amortized cost	16			18
Gross Unrealized Gains	1			3
Gross Unrealized Losses	0			0
Fair   Value	$ 17			$ 21
[1]Net of allowance for credit losses

INVESTMENTS - Equity Securities

INVESTMENTS - Equity Securities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Equity Securities, FV-NI [Line Items]
Equity securities	$ 728	$ 1,088
Yen-denominated
Equity Securities, FV-NI [Line Items]
Equity securities	482	751
Dollar-denominated
Equity Securities, FV-NI [Line Items]
Equity securities	246	252
Other currencies
Equity Securities, FV-NI [Line Items]
Equity securities	$ 0	$ 85

INVESTMENTS - Contractual and E

INVESTMENTS - Contractual and Economic Maturities of Investments in Fixed Maturities (Detail) - USD ($) $ in Millions		Jun. 30, 2024		Dec. 31, 2023
Available for sale:
Due in one year or less	[1]	$ 1,214
Due after one year through five years	[1]	6,729
Due after five years through 10 years	[1]	17,527
Due after 10 years	[1]	35,724
Mortgage- and asset-backed securities	[1]	3,409
Total fixed maturity securities, available-for-sale, amortized cost	[1]	64,603
Held to maturity:
Due in one year or less	[1]	0
Due after one year through five years	[1]	33
Due after five years through 10 years	[1]	8,366
Due after 10 years	[1]	7,286
Total fixed maturity securities, held-to- maturity, amortized cost		15,685	[1]	$ 17,819
Available for sale:
Due in one year or less		1,265
Due after one year through five years		7,665
Due after five years through 10 years		18,946
Due after 10 years		34,680
Mortgage- and asset-backed securities		3,703
Fair Value		66,259		73,290
Held to maturity:
Due in one year or less		0
Due after one year through five years		34
Due after five years through 10 years		8,956
Due after 10 years		7,580
Fair Value		$ 16,570		$ 19,657
[1]Net of allowance for credit losses

INVESTMENTS - Investment Exposu

INVESTMENTS - Investment Exposures Individually Exceeded 10% of Shareholders' Equity (Details) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
		Jun. 30, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Credit Rating	[1]	A+	A+
Amortized Cost	[1]	$ 34,111	$ 39,151
Fair Value	[1]	$ 33,114	$ 40,222
Investment, Type [Extensible Enumeration]		Japan National Government [Member]	Japan National Government [Member]	[1]
[1] Japan Government Bonds (JGBs) or JGB-backed securities

INVESTMENTS - Information Regar

INVESTMENTS - Information Regarding Pretax Net Gains and Losses From Investments (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Gain (Loss) on Securities [Line Items]
Gross gains (losses) from sales and redemptions	$ 5	$ (3)	$ 10	$ (3)
Net investment gains (losses)	696	555	1,647	678
Credit losses:
Fixed maturity securities held-to-maturity	0	0	0	1
Commercial mortgage and other loans	(21)	(2)	(28)	(33)
Impairment losses	0	0	0	0
Loan commitments	2	1	3	4
Reinsurance recoverables and other	0	0	5	(3)
Total credit losses	(19)	(1)	(20)	(31)
Derivatives and other:
Derivative gains (losses)	(275)	(594)	(490)	(577)
Foreign currency gains (losses)	924	1,135	1,842	1,217
Fixed maturity securities
Gain (Loss) on Securities [Line Items]
Gross gains from sales	6	7	40	8
Gross losses from sales	(27)	(6)	(309)	(9)
Foreign currency gains (losses)	71	26	487	85
Debt Securities, Financing Receivables, and Other Investments
Gain (Loss) on Securities [Line Items]
Net investment gains (losses)	55	24	228	81
Equity securities
Gain (Loss) on Securities [Line Items]
Net investment gains (losses)	11	(9)	87	(12)
Derivatives and other
Gain (Loss) on Securities [Line Items]
Net investment gains (losses)	$ 649	$ 541	$ 1,352	$ 640

INVESTMENTS - Net Effect on Sha

INVESTMENTS - Net Effect on Shareholders' Equity of Unrealized Gains and Losses from Investment Securities (Detail) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Investments [Abstract]
Unrealized gains (losses) on securities available-for-sale	$ 1,656	$ 2,601
Deferred income taxes	(1,255)	(1,462)
Unrealized gains (losses) on fixed maturity securities	$ 401	$ 1,139

INVESTMENTS - Fair Value and Gr

INVESTMENTS - Fair Value and Gross Unrealized Losses for Securities That Have Been in Continuous Unrealized Loss Position (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	$ 24,554	$ 25,402
Total Unrealized Losses	4,315	3,449
Less than 12 months Fair Value	6,609	4,239
Less than 12 months Unrealized Losses	708	364
12 months or Longer Fair Value	17,945	21,163
12 months or Longer Unrealized Losses	3,607	3,085
Dollar-denominated | U.S. government and agencies
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	114	123
Total Unrealized Losses	4	4
Less than 12 months Fair Value	38	53
Less than 12 months Unrealized Losses	1	1
12 months or Longer Fair Value	76	70
12 months or Longer Unrealized Losses	3	3
Dollar-denominated | Municipalities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	670	703
Total Unrealized Losses	49	38
Less than 12 months Fair Value	29	31
Less than 12 months Unrealized Losses	1	1
12 months or Longer Fair Value	641	672
12 months or Longer Unrealized Losses	48	37
Dollar-denominated | Mortgage- and asset-backed securities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	684	925
Total Unrealized Losses	44	56
Less than 12 months Fair Value	167	340
Less than 12 months Unrealized Losses	1	6
12 months or Longer Fair Value	517	585
12 months or Longer Unrealized Losses	43	50
Dollar-denominated | Public utilities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	1,438	1,120
Total Unrealized Losses	150	114
Less than 12 months Fair Value	445	228
Less than 12 months Unrealized Losses	15	4
12 months or Longer Fair Value	993	892
12 months or Longer Unrealized Losses	135	110
Dollar-denominated | Sovereign and supranational
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	14	35
Total Unrealized Losses	3	8
Less than 12 months Fair Value	0	0
Less than 12 months Unrealized Losses	0	0
12 months or Longer Fair Value	14	35
12 months or Longer Unrealized Losses	3	8
Dollar-denominated | Banks/financial institutions
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	753	655
Total Unrealized Losses	50	51
Less than 12 months Fair Value	345	159
Less than 12 months Unrealized Losses	8	4
12 months or Longer Fair Value	408	496
12 months or Longer Unrealized Losses	42	47
Dollar-denominated | Other corporate
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	6,336	6,380
Total Unrealized Losses	823	665
Less than 12 months Fair Value	1,473	799
Less than 12 months Unrealized Losses	43	19
12 months or Longer Fair Value	4,863	5,581
12 months or Longer Unrealized Losses	780	646
Yen-denominated | Japan government and agencies
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	8,156	8,393
Total Unrealized Losses	2,376	1,696
Less than 12 months Fair Value	2,577	1,657
Less than 12 months Unrealized Losses	574	303
12 months or Longer Fair Value	5,579	6,736
12 months or Longer Unrealized Losses	1,802	1,393
Yen-denominated | Municipalities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	339	301
Total Unrealized Losses	74	58
Less than 12 months Fair Value	123	34
Less than 12 months Unrealized Losses	4	0
12 months or Longer Fair Value	216	267
12 months or Longer Unrealized Losses	70	58
Yen-denominated | Mortgage- and asset-backed securities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	223	58
Total Unrealized Losses	22	11
Less than 12 months Fair Value	41	0
Less than 12 months Unrealized Losses	0	0
12 months or Longer Fair Value	182	58
12 months or Longer Unrealized Losses	22	11
Yen-denominated | Public utilities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	951	1,028
Total Unrealized Losses	94	82
Less than 12 months Fair Value	492	444
Less than 12 months Unrealized Losses	18	13
12 months or Longer Fair Value	459	584
12 months or Longer Unrealized Losses	76	69
Yen-denominated | Sovereign and supranational
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	25	60
Total Unrealized Losses	7	7
Less than 12 months Fair Value	0	0
Less than 12 months Unrealized Losses	1	0
12 months or Longer Fair Value	25	60
12 months or Longer Unrealized Losses	6	7
Yen-denominated | Banks/financial institutions
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	3,132	3,673
Total Unrealized Losses	332	365
Less than 12 months Fair Value	450	186
Less than 12 months Unrealized Losses	23	4
12 months or Longer Fair Value	2,682	3,487
12 months or Longer Unrealized Losses	309	361
Yen-denominated | Other corporate
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	1,719	1,948
Total Unrealized Losses	287	294
Less than 12 months Fair Value	429	308
Less than 12 months Unrealized Losses	19	9
12 months or Longer Fair Value	1,290	1,640
12 months or Longer Unrealized Losses	$ 268	$ 285

INVESTMENTS - Commercial Mortga

INVESTMENTS - Commercial Mortgage and Other Loans by Portfolio Segment (Details) - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 12,033		$ 12,801
Percent of total commercial mortgage and other loans	100%		100%
Allowance for credit losses	$ (238)		$ (274)
Total net commercial mortgage and other loans	11,795		12,527
Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 5,669		$ 6,114
Percent of total commercial mortgage and other loans	47.20%		47.80%
Allowance for credit losses	$ (123)	$ (114)	$ (112)	$ (76)	$ (65)	$ (54)
Commercial mortgage loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 1,608		$ 1,709
Percent of total commercial mortgage and other loans	13.30%		13.40%
Allowance for credit losses	$ (17)	(19)	$ (16)	(9)	(9)	(9)
Middle market loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 4,489		$ 4,677
Percent of total commercial mortgage and other loans	37.30%		36.50%
Allowance for credit losses	$ (98)	$ (99)	$ (146)	$ (140)	$ (149)	$ (129)
Other loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 267		$ 301
Percent of total commercial mortgage and other loans	2.20%		2.30%
Office | Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 1,635		$ 1,807
Percent of total commercial mortgage and other loans	13.60%		14.10%
Office | Commercial mortgage loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 354		$ 359
Percent of total commercial mortgage and other loans	2.90%		2.80%
Retail | Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 337		$ 473
Percent of total commercial mortgage and other loans	2.80%		3.70%
Retail | Commercial mortgage loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 218		$ 301
Percent of total commercial mortgage and other loans	1.80%		2.40%
Apartment/Multi-Family | Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 2,438		$ 2,608
Percent of total commercial mortgage and other loans	20.30%		20.40%
Apartment/Multi-Family | Commercial mortgage loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 579		$ 586
Percent of total commercial mortgage and other loans	4.80%		4.60%
Industrial | Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 115		$ 157
Percent of total commercial mortgage and other loans	1%		1.20%
Industrial | Commercial mortgage loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 442		$ 463
Percent of total commercial mortgage and other loans	3.70%		3.60%
Hospitality | Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 712		$ 814
Percent of total commercial mortgage and other loans	5.90%		6.40%
Other | Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 432		$ 255
Percent of total commercial mortgage and other loans	3.60%		2%
Other | Commercial mortgage loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 15		$ 0
Percent of total commercial mortgage and other loans	0.10%		0%

INVESTMENTS - Transitional Real

INVESTMENTS - Transitional Real Estate Loans by Key Credit Quality Indicators (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 12,033	$ 12,801
Transitional real estate loans
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023	128
2022	2,042
2021	2,212
2020	217
Prior	1,070
Total	5,669	$ 6,114
2024	0
2023	0
2022	0
2021	5
2020	0
Prior	10
Total	15
Transitional real estate loans | Loan to Value Ratio, 0.00% to 59.99%
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023	0
2022	615
2021	513
2020	36
Prior	143
Total	1,307
Transitional real estate loans | Loan to Value Ratio, 60.00% to 69.99%
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023	114
2022	394
2021	673
2020	18
Prior	605
Total	1,804
Transitional real estate loans | Loan to Value Ratio, 70.00% to 79.99%
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023	14
2022	814
2021	812
2020	83
Prior	173
Total	1,896
Transitional real estate loans | Loan-to-Value Ratio, 80.00% or greater
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023	0
2022	219
2021	214
2020	80
Prior	149
Total	$ 662

INVESTMENTS - Commercial Mort_2

INVESTMENTS - Commercial Mortgage Loans by Key Credit Quality Indicators (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 12,033	$ 12,801
Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
2024	13
2023	33
2022	0
2021	294
2020	58
Prior	1,210
Total	$ 1,608	$ 1,709
Weighted Average DSCR	2.34
2024	$ 0
2023	0
2022	0
2021	0
2020	0
Prior	0
Total	$ 0
Commercial mortgage loans | 2024
Financing Receivable, Credit Quality Indicator [Line Items]
Weighted Average DSCR	1.21
Commercial mortgage loans | 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Weighted Average DSCR	2.58
Commercial mortgage loans | 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Weighted Average DSCR	0
Commercial mortgage loans | 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Weighted Average DSCR	2.93
Commercial mortgage loans | 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Weighted Average DSCR	2.61
Commercial mortgage loans | Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Weighted Average DSCR	2.20
Commercial mortgage loans | Loan to Value Ratio, 0.00% to 59.99%
Financing Receivable, Credit Quality Indicator [Line Items]
2024	$ 0
2023	33
2022	0
2021	294
2020	58
Prior	952
Total	$ 1,337
Weighted Average DSCR	2.64
Commercial mortgage loans | Loan to Value Ratio, 60.00% to 69.99%
Financing Receivable, Credit Quality Indicator [Line Items]
2024	$ 13
2023	0
2022	0
2021	0
2020	0
Prior	39
Total	$ 52
Weighted Average DSCR	1.31
Commercial mortgage loans | Loan to Value Ratio, 70.00% to 79.99%
Financing Receivable, Credit Quality Indicator [Line Items]
2024	$ 0
2023	0
2022	0
2021	0
2020	0
Prior	86
Total	$ 86
Weighted Average DSCR	1.26
Commercial mortgage loans | Loan-to-Value Ratio, 80.00% or greater
Financing Receivable, Credit Quality Indicator [Line Items]
2024	$ 0
2023	0
2022	0
2021	0
2020	0
Prior	133
Total	$ 133
Weighted Average DSCR	0.51

INVESTMENTS - Middle Market Loa

INVESTMENTS - Middle Market Loans by Key Credit Quality Indicators (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 12,033	$ 12,801
Middle market loans
Financing Receivable, Credit Quality Indicator [Line Items]
2024	206
2023	101
2022	697
2021	1,165
2020	713
Prior	1,450
Revolving Loans	157
Total	4,489	$ 4,677
2024	0
2023	0
2022	0
2021	27
2020	0
Prior	23
Revolving Loans	0
Total	50
Middle market loans | BBB Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2024	10
2023	15
2022	62
2021	103
2020	94
Prior	93
Revolving Loans	16
Total	393
Middle market loans | BB Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2024	85
2023	41
2022	367
2021	415
2020	280
Prior	499
Revolving Loans	81
Total	1,768
Middle market loans | B Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2024	111
2023	45
2022	246
2021	563
2020	249
Prior	620
Revolving Loans	42
Total	1,876
Middle market loans | CCC Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023	0
2022	22
2021	78
2020	90
Prior	140
Revolving Loans	16
Total	346
Middle market loans | CC Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023	0
2022	0
2021	0
2020	0
Prior	8
Revolving Loans	0
Total	8
Middle market loans | C and Lower Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023	0
2022	0
2021	6
2020	0
Prior	90
Revolving Loans	2
Total	$ 98

INVESTMENTS - Other Loans by Ke

INVESTMENTS - Other Loans by Key Credit Quality Indicators (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 12,033	$ 12,801
Other loans
Financing Receivable, Credit Quality Indicator [Line Items]
2024	5
2023	86
2022	173
2021	3
2020	0
Prior	0
Revolving Loans	0
Total	267	$ 301
2024	0
2023	0
2022	0
2021	0
2020	0
Prior	0
Revolving Loans	0
Total	0
Other loans | A Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023	22
2022	76
2021	0
2020	0
Prior	0
Revolving Loans	0
Total	98
Other loans | AA Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023	0
2022	22
2021	3
2020	0
Prior	0
Revolving Loans	0
Total	25
Other loans | BBB Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2024	5
2023	64
2022	0
2021	0
2020	0
Prior	0
Revolving Loans	0
Total	69
Other loans | BB Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023	0
2022	75
2021	0
2020	0
Prior	0
Revolving Loans	0
Total	$ 75

INVESTMENTS - Nonaccrual Loans

INVESTMENTS - Nonaccrual Loans (Details) - USD ($) $ in Millions	Jun. 30, 2024		Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Total	$ 12,033		$ 12,801
Total, nonaccrual status	539		718
Total, 90 days or more past due and still accruing	106		0
Transitional real estate loans
Financing Receivable, Past Due [Line Items]
Total	5,669		6,114
Total, nonaccrual status	475		633
Commercial mortgage loans
Financing Receivable, Past Due [Line Items]
Total	1,608		1,709
Total, nonaccrual status	21		0
Middle market loans
Financing Receivable, Past Due [Line Items]
Total	4,489		4,677
Total, nonaccrual status	43		85
Other loans
Financing Receivable, Past Due [Line Items]
Total	267		301
Total, nonaccrual status	0		0
Current
Financing Receivable, Past Due [Line Items]
Total	11,152		12,050
Current | Transitional real estate loans
Financing Receivable, Past Due [Line Items]
Total	4,934		5,481
Current | Commercial mortgage loans
Financing Receivable, Past Due [Line Items]
Total	1,587		1,676
Current | Middle market loans
Financing Receivable, Past Due [Line Items]
Total	4,384		4,592
Current | Other loans
Financing Receivable, Past Due [Line Items]
Total	247		301
Less Than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Total	279		141
Less Than 90 Days Past Due | Transitional real estate loans
Financing Receivable, Past Due [Line Items]
Total	217		108
Less Than 90 Days Past Due | Commercial mortgage loans
Financing Receivable, Past Due [Line Items]
Total	0		33
Less Than 90 Days Past Due | Middle market loans
Financing Receivable, Past Due [Line Items]
Total	62		0
Less Than 90 Days Past Due | Other loans
Financing Receivable, Past Due [Line Items]
Total	0		0
90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Total	602	[1]	610	[2]
90 Days or More Past Due | Transitional real estate loans
Financing Receivable, Past Due [Line Items]
Total	518	[1]	525	[2]
90 Days or More Past Due | Commercial mortgage loans
Financing Receivable, Past Due [Line Items]
Total	21	[1]	0	[2]
90 Days or More Past Due | Middle market loans
Financing Receivable, Past Due [Line Items]
Total	43	[1]	85	[2]
90 Days or More Past Due | Other loans
Financing Receivable, Past Due [Line Items]
Total	20	[1]	0	[2]
Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Total	881		751
Financial Asset, Past Due | Transitional real estate loans
Financing Receivable, Past Due [Line Items]
Total	735		633
Financial Asset, Past Due | Commercial mortgage loans
Financing Receivable, Past Due [Line Items]
Total	21		33
Financial Asset, Past Due | Middle market loans
Financing Receivable, Past Due [Line Items]
Total	105		85
Financial Asset, Past Due | Other loans
Financing Receivable, Past Due [Line Items]
Total	$ 20		$ 0
[1]As of June 30, 2024, there were $106 of loans that were 90 days or more past due that continued to accrue interest.[2]As of December 31, 2023, there were no loans that were 90 days or more past due that continued to accrue interest.

INVESTMENTS - Allowance for Loa

INVESTMENTS - Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Balance, beginning of period			$ (274)
(Addition to) release of allowance for credit losses	$ (21)	$ (2)	(28)	$ (33)
Balance, end of period	(238)		(238)
Balance, beginning of period	(5)	(6)	(5)	(7)
(Addition to) release of allowance for credit losses	0	0	0	1
Write-offs, net of recoveries	0	0	0	0
Change in foreign exchange	0	1	0	1
Balance, end of period	(5)	(5)	(5)	(5)
Balance, beginning of period	0	0	0	0
(Addition to) release of allowance for credit losses	0	0	0	0
Write-offs, net of recoveries	0	0	0	0
Change in foreign exchange	0	0	0	0
Balance, end of period	0	0	0	0
Balance, beginning of period	(252)	(250)	(295)	(223)
(Addition to) release of allowance for credit losses	(19)	(1)	(26)	(28)
Write-offs, net of recoveries	15	0	65	0
Change in foreign exchange	0	1	0	1
Balance, end of period	(256)	(250)	(256)	(250)
Transitional real estate loans
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Balance, beginning of period	(114)	(65)	(112)	(54)
(Addition to) release of allowance for credit losses	(24)	(11)	(26)	(22)
Write-offs, net of recoveries	15	0	15	0
Change in foreign exchange	0	0	0	0
Balance, end of period	(123)	(76)	(123)	(76)
Commercial mortgage loans
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Balance, beginning of period	(19)	(9)	(16)	(9)
(Addition to) release of allowance for credit losses	2	0	(1)	0
Write-offs, net of recoveries	0	0	0	0
Change in foreign exchange	0	0	0	0
Balance, end of period	(17)	(9)	(17)	(9)
Middle market loans
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Balance, beginning of period	(99)	(149)	(146)	(129)
(Addition to) release of allowance for credit losses	1	9	(2)	(11)
Write-offs, net of recoveries	0	0	50	0
Change in foreign exchange	0	0	0	0
Balance, end of period	(98)	(140)	(98)	(140)
Other loans and loan commitments
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Balance, beginning of period	(15)	(21)	(16)	(24)
(Addition to) release of allowance for credit losses	2	1	3	4
Write-offs, net of recoveries	0	0	0	0
Change in foreign exchange	0	0	0	0
Balance, end of period	$ (13)	$ (20)	$ (13)	$ (20)

INVESTMENTS - Other Investments

INVESTMENTS - Other Investments (Details) - USD ($) $ in Millions		Jun. 30, 2024	Dec. 31, 2023
Investment Holdings [Line Items]
Other investments		$ 7,102	$ 4,530
Policy loans
Investment Holdings [Line Items]
Other investments		195	214
Short-term investments
Investment Holdings [Line Items]
Other investments	[1]	3,380	1,304
Limited partnerships
Investment Holdings [Line Items]
Other investments	[2]	2,983	2,750
Real estate owned
Investment Holdings [Line Items]
Other investments		497	227
Other
Investment Holdings [Line Items]
Other investments		$ 47	$ 35
[1]Includes securities lending collateral[2] Includes tax credit investments and asset classes such as private equity and real estate funds

INVESTMENTS - Investments in Co

INVESTMENTS - Investments in Consolidated Variable Interest Entities (Detail) - USD ($) $ in Millions		Jun. 30, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Fixed maturity securities, available-for-sale		$ 66,259	$ 73,290
Commercial mortgage and other loans		11,795	12,527
Other investments		7,102	4,530
Asset derivatives		316	337
Assets		120,168	126,724
Liability derivatives		1,324	1,430
Liabilities		94,121	104,739
Variable Interest Entity, Consolidated
Variable Interest Entity [Line Items]
Fixed maturity securities, available-for-sale		3,677	3,712
Commercial mortgage and other loans		9,454	10,150
Other investments	[1]	2,571	2,381
Asset derivatives	[2]	58	55
Assets		15,760	16,298
Liability derivatives	[2]	700	507
Liabilities		$ 700	$ 507
[1]Consists entirely of alternative investments in limited partnerships[2]Consists entirely of derivatives

INVESTMENTS - Investments in Va

INVESTMENTS - Investments in Variable Interest Entities Not Consolidated (Details) - USD ($) $ in Millions		Jun. 30, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Fixed maturity securities, available-for-sale		$ 66,259	$ 73,290
Other investments		7,102	4,530
Assets		120,168	126,724
Variable Interest Entity, Not Consolidated
Variable Interest Entity [Line Items]
Fixed maturity securities, available-for-sale		6,552	6,424
Other investments	[1]	412	369
Assets		$ 6,964	$ 6,793
[1]Consists entirely of alternative investments in limited partnerships

INVESTMENTS - Securities Lendin

INVESTMENTS - Securities Lending Transactions Accounted for as Secured Borrowings (Details) - USD ($) $ in Millions		Jun. 30, 2024	Dec. 31, 2023
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		$ 4,493	$ 1,503
Gross amount of recognized liabilities for securities lending		4,493	1,503
Japan government and agencies
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		3,583	737
Public utilities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		51	19
Banks/financial institutions
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		145	72
Other corporate
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		714	675
Maturity Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	[1]	910	766
Maturity Overnight and Continuous | Japan government and agencies
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	[1]	0	0
Maturity Overnight and Continuous | Public utilities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	[1]	51	19
Maturity Overnight and Continuous | Banks/financial institutions
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	[1]	145	72
Maturity Overnight and Continuous | Other corporate
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	[1]	714	675
Maturity up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		3,583	737
Maturity up to 30 Days | Japan government and agencies
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		3,583	737
Maturity up to 30 Days | Public utilities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		0	0
Maturity up to 30 Days | Banks/financial institutions
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		0	0
Maturity up to 30 Days | Other corporate
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		$ 0	$ 0
[1] The related loaned security, under the Company's U.S. securities lending program, can be returned to the Company at the transferee's discretion; therefore, they are classified as Overnight and Continuous.

INVESTMENTS - Additional Inform

INVESTMENTS - Additional Information (Detail) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) investment	Jun. 30, 2023 USD ($) investment	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Schedule of Investments [Line Items]
Held to maturity securities transferred to available for sale securities, number of investments | investment			0	0
Equity securities, FV-NI, unrealized gain (loss)	$ 15	$ (16)	$ 70	$ (21)
Transitional real estate loan commitments	400		400
Middle market loan program unfunded amount	25		25			$ 24
Middle market loan commitments	741		741
Other loans commitments	5		5
Amortized Cost	15,690		15,690			17,824
Limited partnerships investment commitments	$ 2,100		$ 2,100
Percentage that the lending policy requires that the fair value of the securities received as collateral be of the fair value of the loaned securities	102%		102%
Percentage that the lending policy requires that the fair value of the unrestricted cash received as collateral be of the fair value of the loaned securities	100%		100%
Securities Lending, Securities Received as Collateral	$ 4,000		$ 4,000			4,300
Repurchase Agreements and Repurchase-to-Maturity Transactions Outstanding	0		0			0
Nonaccrual loans, interest income	0			0
Credit allowance	238		238			274
Financing receivable, before allowance for credit loss	12,033		12,033			12,801
Real estate owned, held-and-used						210
Real estate owned, held-for-sale						17
Depreciation expense	3		4
Accumulated depreciation	4		4
Transitional real estate loans
Schedule of Investments [Line Items]
Nonaccrual loans, no allowance	$ 68		$ 68			160
Percent of total financing receivables	2%		6%
Amortized cost of financing receivable modified	$ 121		$ 332
Credit allowance	123	76	123	76	$ 114	112	$ 65	$ 54
Financing receivable, before allowance for credit loss	$ 5,669		$ 5,669			6,114
Financing Receivable Modified Weighted Average Interest Rate Before Modification	8.10%		8.20%
Financing Receivable Modified Weighted Average Interest Rate After Modification	7.80%		7.30%
Transitional real estate loans | Potential Foreclosure or Deed-in-lieu Foreclosure
Schedule of Investments [Line Items]
Credit allowance	$ 33		$ 33
Financing receivable, before allowance for credit loss	656		656
Financing Receivable in Process of Foreclosure, Amount	267		267
Middle market loans
Schedule of Investments [Line Items]
Nonaccrual loans, no allowance	$ 4		$ 4			0
Percent of total financing receivables	0%		0%
Financing receivable, modified, increase (decrease) from modification	$ 15		$ 15
Amortized cost of financing receivable modified	2		2
Credit allowance	98	$ 140	98	$ 140	$ 99	146	$ 149	$ 129
Financing receivable, before allowance for credit loss	4,489		4,489			$ 4,677
Zero-credit-loss expectation | Japan government and agencies
Schedule of Investments [Line Items]
Amortized Cost	$ 14,900		$ 14,900
CALIFORNIA | Commercial Mortgage and Transitional Real Estate Loans | Mortgages
Schedule of Investments [Line Items]
Concentration Risk, Percentage			21%
TEXAS | Commercial Mortgage and Transitional Real Estate Loans | Mortgages
Schedule of Investments [Line Items]
Concentration Risk, Percentage			13%
FLORIDA | Commercial Mortgage and Transitional Real Estate Loans | Mortgages
Schedule of Investments [Line Items]
Concentration Risk, Percentage			9%

DERIVATIVE INSTRUMENTS - Summar

DERIVATIVE INSTRUMENTS - Summary of Balance Sheet Classification of Derivative Fair Value Amounts, as well as Gross Asset and Liability Fair Value Amounts (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Notional Amount	$ 50,551	$ 57,049
Derivative Asset, Fair Value	316	337
Derivative Liability, Fair Value	$ 1,324	$ 1,430
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other	Other
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other	Other
Cash flow hedges
Derivatives, Fair Value [Line Items]
Notional Amount	$ 18	$ 18
Derivative Asset, Fair Value	0	0
Derivative Liability, Fair Value	6	4
Cash flow hedges | Foreign currency swaps | Variable Interest Entity, Consolidated
Derivatives, Fair Value [Line Items]
Notional Amount	18	18
Derivative Asset, Fair Value	0	0
Derivative Liability, Fair Value	6	4
Fair value hedges
Derivatives, Fair Value [Line Items]
Notional Amount	0	2,158
Derivative Asset, Fair Value	0	0
Derivative Liability, Fair Value	0	0
Fair value hedges | Foreign currency options
Derivatives, Fair Value [Line Items]
Notional Amount	0	2,158
Derivative Asset, Fair Value	0	0
Derivative Liability, Fair Value	0	0
Net investment hedge
Derivatives, Fair Value [Line Items]
Notional Amount	1,972	3,067
Derivative Asset, Fair Value	235	179
Derivative Liability, Fair Value	0	27
Net investment hedge | Foreign currency forwards
Derivatives, Fair Value [Line Items]
Notional Amount	1,972	2,611
Derivative Asset, Fair Value	235	179
Derivative Liability, Fair Value	0	27
Net investment hedge | Foreign currency options
Derivatives, Fair Value [Line Items]
Notional Amount	0	456
Derivative Asset, Fair Value	0	0
Derivative Liability, Fair Value	0	0
Non-qualifying strategies
Derivatives, Fair Value [Line Items]
Notional Amount	48,561	51,806
Derivative Asset, Fair Value	81	158
Derivative Liability, Fair Value	1,318	1,399
Non-qualifying strategies | Foreign currency swaps | Variable Interest Entity, Consolidated
Derivatives, Fair Value [Line Items]
Notional Amount	3,416	3,417
Derivative Asset, Fair Value	58	55
Derivative Liability, Fair Value	694	503
Non-qualifying strategies | Foreign currency swaps | Consolidated Entity Excluding Variable Interest Entities (VIE)
Derivatives, Fair Value [Line Items]
Notional Amount	1,200	1,200
Derivative Asset, Fair Value	16	31
Derivative Liability, Fair Value	0	0
Non-qualifying strategies | Foreign currency forwards
Derivatives, Fair Value [Line Items]
Notional Amount	0	7,402
Derivative Asset, Fair Value	0	59
Derivative Liability, Fair Value	0	477
Non-qualifying strategies | Foreign currency options
Derivatives, Fair Value [Line Items]
Notional Amount	26,715	22,557
Derivative Asset, Fair Value	7	2
Derivative Liability, Fair Value	173	0
Non-qualifying strategies | Interest rate swaps
Derivatives, Fair Value [Line Items]
Notional Amount	17,230	17,230
Derivative Asset, Fair Value	0	11
Derivative Liability, Fair Value	$ 451	$ 419

DERIVATIVE INSTRUMENTS - Gains

DERIVATIVE INSTRUMENTS - Gains (Losses) Recognized on Fair Value Hedging Relationships (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
		Jun. 30, 2023	Jun. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized for derivatives		$ (25)	$ (64)
Gains (losses) on derivatives excluded from effectiveness testing	[1]	(25)	(64)
Gains (losses) on derivatives included in effectiveness testing	[2]	0	0
Gains (losses) recognized for hedged items	[2]	0	0
Net realized gains (losses) recognized for fair value hedge		0	0
Fixed maturity securities | Foreign currency options
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized for derivatives		(25)	(64)
Gains (losses) on derivatives excluded from effectiveness testing	[1]	(25)	(64)
Gains (losses) on derivatives included in effectiveness testing	[2]	0	0
Gains (losses) recognized for hedged items	[2]	0	0
Net realized gains (losses) recognized for fair value hedge		$ 0	$ 0
[1]Gains (losses) excluded from effectiveness testing includes the forward point on foreign currency forwards and time value change on foreign currency options which are reported in the consolidated statements of earnings as net investment gains (losses). It also includes the change in the fair value of the interest rate swaptions related to the time value of the swaptions which is recognized as a component of other comprehensive income (loss).[2]Gains and losses on foreign currency forwards and options and related hedged items are reported in the consolidated statements of earnings as net investment gains (losses). For interest rate swaptions and related hedged items, gains and losses included in the hedge assessment, premium amortization and time value amortization while the hedge items are still outstanding are reported within net investment income. The time value gains and losses for interest rate swaptions when the related hedged items are redeemed are reported in net investment gains (losses) consistent with the impact of the hedged item. For the three- and six-month periods ended June 30, 2023, gains and losses included in the hedge assessment on interest rate swaptions and related hedged items were immaterial.

DERIVATIVE INSTRUMENTS - Schedu

DERIVATIVE INSTRUMENTS - Schedule of Interest Rate Fair Value Hedges Hedged Items (Details) - Fixed maturity securities - USD ($) $ in Millions		Jun. 30, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying Amount of Hedged Assets/ (Liabilities)	[1]	$ 1,452	$ 1,692
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of Hedged Assets/(Liabilities)		$ 153	$ 164
[1] The balance includes hedging adjustment on discontinued hedging relationships of $153 in 2024 and $164 in 2023.

DERIVATIVE INSTRUMENTS - Deriva

DERIVATIVE INSTRUMENTS - Derivatives and Hedging Instruments Gain (Loss) Summary (Details) - USD ($) $ in Millions		3 Months Ended				6 Months Ended
		Jun. 30, 2024		Jun. 30, 2023		Jun. 30, 2024		Jun. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in other comprehensive income on derivative		$ 6		$ 1		$ 0		$ 2
Unrealized foreign currency translation gains (losses) during period		(340)		(439)		(838)		(482)
Derivative and non-derivative hedging instruments, gain (loss) recognized in other comprehensive income, before tax	[1]	420		707		801		762
Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative	[2]	0		0		0		0
Net investment gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(275)		(594)		(490)		(577)
Reclassification Out Of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, cash flow hedges, gains (losses) reclassified from accumulated other comprehensive income into earnings		(1)		(1)		(2)		(1)
Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in other comprehensive income on derivative	[1]	0		1		0		2
Cash flow hedges | Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative	[2]	0		0		0		0
Cash flow hedges | Net investment gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(1)	[3]	(1)	[3]	(2)	[4]	(2)	[4]
Cash flow hedges | Foreign currency swaps | Variable Interest Entity, Consolidated
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in other comprehensive income on derivative	[1]	0		1		0		2
Cash flow hedges | Foreign currency swaps | Variable Interest Entity, Consolidated | Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative	[2]	0		0		0		0
Cash flow hedges | Foreign currency swaps | Variable Interest Entity, Consolidated | Net investment gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(1)		(1)		(2)		(2)
Fair value hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		0		(25)		0		(64)
Fair value hedges | Foreign currency options
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		0		(25)		0		(64)
Net investment hedge
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		32		32		76		119
Unrealized foreign currency translation gains (losses) during period	[1]	420		706		801		760
Net investment hedge | Foreign currency options
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		0		(5)		0		(8)
Unrealized foreign currency translation gains (losses) during period	[1]	0		0		0		0
Net investment hedge | Non-derivative hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		0		0		0		0
Unrealized foreign currency translation gains (losses) during period	[1]	265		313		501		338
Net investment hedge | Foreign currency forwards
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		32		37		76		127
Unrealized foreign currency translation gains (losses) during period	[1]	155		393		300		422
Non-qualifying strategies
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(306)		(600)		(564)		(630)
Non-qualifying strategies | Foreign currency swaps | Variable Interest Entity, Consolidated
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(128)		(63)		(216)		(90)
Non-qualifying strategies | Foreign currency swaps | Consolidated Entity Excluding Variable Interest Entities (VIE)
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		1		2		2		3
Non-qualifying strategies | Foreign currency options
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(141)		(18)		(182)		(37)
Non-qualifying strategies | Foreign currency forwards
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		0		(331)		17		(382)
Non-qualifying strategies | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(38)		(189)		(185)		(120)
Non-qualifying strategies | Forward bond purchase commitment | Variable Interest Entity, Consolidated
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		$ 0		$ (1)		$ 0		$ (4)
[1] Gains and losses on cash flow hedges and the change in the fair value of interest rate swaptions related to the time value of the swaptions in fair value hedges are recorded as unrealized gains (losses). Gains and losses on net investment hedges related to changes in foreign currency spot rates are recorded in the unrealized foreign currency translation gains (losses) line in the consolidated statements of comprehensive income (loss). Impact of cash flow hedges reported as net investment gains (losses) includes $1 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the three-month period ended June 30, 2024, and $1 of losses during the three-month period ended June 30, 2023.

DERIVATIVE INSTRUMENTS - Offset

DERIVATIVE INSTRUMENTS - Offsetting of Financial Assets and Derivative Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Offsetting Assets [Line Items]
Gross amount of recognized derivative assets	$ 258	$ 282
Gross amount of liabilities offset in balance sheet	0	0
Net amount of derivative assets presented in balance sheet	258	282
Financial instruments, amount not offset	(6)	(96)
Derivative, collateral, obligation to return securities	(90)	(53)
Derivative, collateral, obligation to return cash	(161)	(130)
Derivative asset, fair value, amount offset against collateral, subject to master netting agreement	1	3
Derivative asset, not subject to master netting arrangement	58	55
Derivative asset, fair value, gross asset including not subject to master netting arrangement	316	337
Net amount of derivative assets presented in balance sheet	316	337
Derivative asset, fair value, amount offset against collateral	59	58
Securities lending, gross amounts of recognized financial instruments	4,459	1,480
Securities lending, gross amounts offset in balance sheet	0	0
Securities lending, net amounts of assets presented in balance sheet	4,459	1,480
Securities lending, carrying value of financial instruments not offset in balance sheet	0	0
Securities lending, securities collateral, not offset in balance sheet	0	0
Securities lending, cash collateral, not offset in balance sheet	(4,459)	(1,480)
Securities lending, financial instruments, amount of assets offset against collateral	0	0
Gross amount of recognized assets	4,775	1,817
Gross amounts offset in balance sheet	0	0
Net amounts of assets presented in balance sheet	4,775	1,817
Carrying value of financial instruments not offset in balance sheet	(6)	(96)
Securities collateral, not offset in balance sheet	(90)	(53)
Cash collateral, not offset in balance sheet	(4,620)	(1,610)
Financial instruments, amount of assets offset against collateral	59	58
OTC - Bilateral
Offsetting Assets [Line Items]
Gross amount of recognized derivative assets	258	271
Gross amount of liabilities offset in balance sheet	0	0
Net amount of derivative assets presented in balance sheet	258	271
Financial instruments, amount not offset	(6)	(85)
Derivative, collateral, obligation to return securities	(90)	(53)
Derivative, collateral, obligation to return cash	(161)	(130)
Derivative asset, fair value, amount offset against collateral, subject to master netting agreement	1	3
Derivative asset, not subject to master netting arrangement	$ 58	55
OTC- Cleared
Offsetting Assets [Line Items]
Gross amount of recognized derivative assets		11
Gross amount of liabilities offset in balance sheet		0
Net amount of derivative assets presented in balance sheet		11
Financial instruments, amount not offset		(11)
Derivative, collateral, obligation to return securities		0
Derivative, collateral, obligation to return cash		0
Derivative asset, fair value, amount offset against collateral, subject to master netting agreement		$ 0

DERIVATIVE INSTRUMENTS - Offs_2

DERIVATIVE INSTRUMENTS - Offsetting of Financial Liabilities and Derivative Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Offsetting Liabilities [Line Items]
Gross amount of recognized derivative liabilities	$ 624	$ 923
Gross amount of assets offset in balance sheet	0	0
Derivative liability, fair value, amount not offset against collateral	624	923
Financial instruments, amount not offset	(6)	(96)
Derivative, collateral, right to reclaim securities	(174)	(400)
Derivative, collateral, right to reclaim cash	(444)	(426)
Derivative liability, fair value, amount offset against collateral, subject to master netting agreement	0	1
Derivative liability, not subject to master netting arrangement	700	507
Derivative liability, fair value, gross liability including not subject to master netting arrangement	1,324	1,430
Net amount of derivative liabilities presented in balance sheet	1,324	1,430
Derivative liability, fair value, amount offset against collateral	700	508
Securities lending, gross amounts of recognized financial instruments, offsetting liabilities	4,493	1,503
Securities lending, gross amounts offset in statement of financial position, offsetting liabilities	0	0
Securities lending, net amounts of financial instruments presented in balance sheet, offsetting liabilities	4,493	1,503
Securities lending, carrying value of financial instruments, liabilities not offset in balance sheet	(4,459)	(1,480)
Securities lending, securities collateral, liabilities not offset in balance sheet	0	0
Securities lending, cash collateral, liabilities not offset in balance sheet	0	0
Securities lending, financial instruments, amount of liabilities offset against collateral	34	23
Gross amounts of recognized financial instruments, offsetting liabilities	5,817	2,933
Gross amounts offset in statement of financial position, offsetting liabilities	0	0
Net amounts of financial instruments presented in balance sheet, offsetting liabilities	5,817	2,933
Carrying value of financial instruments, liabilities not offset in balance sheet	(4,465)	(1,576)
Securities collateral, liabilities not offset in balance sheet	(174)	(400)
Cash collateral, liabilities not offset in balance sheet	(444)	(426)
Financial instruments, amount of liabilities offset against collateral	734	531
OTC - Bilateral
Offsetting Liabilities [Line Items]
Gross amount of recognized derivative liabilities	173	504
Gross amount of assets offset in balance sheet	0	0
Derivative liability, fair value, amount not offset against collateral	173	504
Financial instruments, amount not offset	(6)	(85)
Derivative, collateral, right to reclaim securities	(167)	(381)
Derivative, collateral, right to reclaim cash	0	(37)
Derivative liability, fair value, amount offset against collateral, subject to master netting agreement	0	1
Derivative liability, not subject to master netting arrangement	700	507
OTC- Cleared
Offsetting Liabilities [Line Items]
Gross amount of recognized derivative liabilities	451	419
Gross amount of assets offset in balance sheet	0	0
Derivative liability, fair value, amount not offset against collateral	451	419
Financial instruments, amount not offset	0	(11)
Derivative, collateral, right to reclaim securities	(7)	(19)
Derivative, collateral, right to reclaim cash	(444)	(389)
Derivative liability, fair value, amount offset against collateral, subject to master netting agreement	$ 0	$ 0

DERIVATIVE INSTRUMENTS - Additi

DERIVATIVE INSTRUMENTS - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Maximum Length of Time Hedged in Cash Flow Hedge	2 years
Fair value hedges	$ 0
Fair value hedges of interest rate risk	0	$ 0
Derivative, Notional Amount	50,551	57,049
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred	(5)
Derivative, net liability position, aggregate fair value	1,200	$ 1,200
Additional Collateral, Aggregate Fair Value	538
Senior notes | Interest rate swaps
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative, Notional Amount	$ 1,200

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value Hierarchy Levels of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Assets:
Fixed maturity securities, available-for-sale	$ 66,259	$ 73,290
Equity securities	728	1,088
Other investments	3,380	1,304
Cash and cash equivalents	6,060	4,306
Asset derivatives	316	337
Total assets	76,743	80,325
Liabilities:
Liability derivatives	1,324	1,430
Total liabilities	1,324	1,430
Foreign currency swaps
Assets:
Asset derivatives	74	86
Liabilities:
Liability derivatives	700	507
Foreign currency forwards
Assets:
Asset derivatives	235	238
Liabilities:
Liability derivatives		504
Foreign currency options
Assets:
Asset derivatives	7	2
Liabilities:
Liability derivatives	173
Interest rate swaps
Assets:
Asset derivatives		11
Liabilities:
Liability derivatives	451	419
Government and agencies
Assets:
Fixed maturity securities, available-for-sale	18,281	22,600
Municipalities
Assets:
Fixed maturity securities, available-for-sale	2,083	2,298
Mortgage- and asset-backed securities
Assets:
Fixed maturity securities, available-for-sale	3,703	3,086
Public utilities
Assets:
Fixed maturity securities, available-for-sale	6,826	7,592
Sovereign and supranational
Assets:
Fixed maturity securities, available-for-sale	460	537
Banks/financial institutions
Assets:
Fixed maturity securities, available-for-sale	8,699	8,835
Other corporate
Assets:
Fixed maturity securities, available-for-sale	26,207	28,342
Level 1
Assets:
Fixed maturity securities, available-for-sale	17,520	21,700
Equity securities	571	840
Other investments	3,380	1,304
Cash and cash equivalents	6,060	4,306
Asset derivatives	0	0
Total assets	27,531	28,150
Liabilities:
Total liabilities	0	0
Level 1 | Foreign currency swaps
Assets:
Asset derivatives	0	0
Liabilities:
Liability derivatives	0	0
Level 1 | Foreign currency forwards
Assets:
Asset derivatives	0	0
Liabilities:
Liability derivatives		0
Level 1 | Foreign currency options
Assets:
Asset derivatives	0	0
Liabilities:
Liability derivatives	0
Level 1 | Interest rate swaps
Assets:
Asset derivatives		0
Liabilities:
Liability derivatives	0	0
Level 1 | Government and agencies
Assets:
Fixed maturity securities, available-for-sale	17,520	21,700
Level 1 | Municipalities
Assets:
Fixed maturity securities, available-for-sale	0	0
Level 1 | Mortgage- and asset-backed securities
Assets:
Fixed maturity securities, available-for-sale	0	0
Level 1 | Public utilities
Assets:
Fixed maturity securities, available-for-sale	0	0
Level 1 | Sovereign and supranational
Assets:
Fixed maturity securities, available-for-sale	0	0
Level 1 | Banks/financial institutions
Assets:
Fixed maturity securities, available-for-sale	0	0
Level 1 | Other corporate
Assets:
Fixed maturity securities, available-for-sale	0	0
Level 2
Assets:
Fixed maturity securities, available-for-sale	46,683	49,809
Equity securities	0	0
Other investments	0	0
Cash and cash equivalents	0	0
Asset derivatives	316	337
Total assets	46,999	50,146
Liabilities:
Total liabilities	1,324	1,430
Level 2 | Foreign currency swaps
Assets:
Asset derivatives	74	86
Liabilities:
Liability derivatives	700	507
Level 2 | Foreign currency forwards
Assets:
Asset derivatives	235	238
Liabilities:
Liability derivatives		504
Level 2 | Foreign currency options
Assets:
Asset derivatives	7	2
Liabilities:
Liability derivatives	173
Level 2 | Interest rate swaps
Assets:
Asset derivatives		11
Liabilities:
Liability derivatives	451	419
Level 2 | Government and agencies
Assets:
Fixed maturity securities, available-for-sale	761	900
Level 2 | Municipalities
Assets:
Fixed maturity securities, available-for-sale	2,083	2,298
Level 2 | Mortgage- and asset-backed securities
Assets:
Fixed maturity securities, available-for-sale	2,490	2,314
Level 2 | Public utilities
Assets:
Fixed maturity securities, available-for-sale	6,461	7,339
Level 2 | Sovereign and supranational
Assets:
Fixed maturity securities, available-for-sale	435	507
Level 2 | Banks/financial institutions
Assets:
Fixed maturity securities, available-for-sale	8,630	8,757
Level 2 | Other corporate
Assets:
Fixed maturity securities, available-for-sale	25,823	27,694
Level 3
Assets:
Fixed maturity securities, available-for-sale	2,056	1,781
Equity securities	157	248
Other investments	0	0
Cash and cash equivalents	0	0
Asset derivatives	0	0
Total assets	2,213	2,029
Liabilities:
Total liabilities	0	0
Level 3 | Foreign currency swaps
Assets:
Asset derivatives	0	0
Liabilities:
Liability derivatives	0	0
Level 3 | Foreign currency forwards
Assets:
Asset derivatives	0	0
Liabilities:
Liability derivatives		0
Level 3 | Foreign currency options
Assets:
Asset derivatives	0	0
Liabilities:
Liability derivatives	0
Level 3 | Interest rate swaps
Assets:
Asset derivatives		0
Liabilities:
Liability derivatives	0	0
Level 3 | Government and agencies
Assets:
Fixed maturity securities, available-for-sale	0	0
Level 3 | Municipalities
Assets:
Fixed maturity securities, available-for-sale	0	0
Level 3 | Mortgage- and asset-backed securities
Assets:
Fixed maturity securities, available-for-sale	1,213	772
Level 3 | Public utilities
Assets:
Fixed maturity securities, available-for-sale	365	253
Level 3 | Sovereign and supranational
Assets:
Fixed maturity securities, available-for-sale	25	30
Level 3 | Banks/financial institutions
Assets:
Fixed maturity securities, available-for-sale	69	78
Level 3 | Other corporate
Assets:
Fixed maturity securities, available-for-sale	$ 384	$ 648

FAIR VALUE MEASUREMENTS - Fai_2

FAIR VALUE MEASUREMENTS - Fair Value Hierarchy Levels of Assets and Liabilities Carried at Cost or Amortized Cost (Details) - USD ($) $ in Millions	Jun. 30, 2024		Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	$ 7,102		$ 4,530
Assets:
Amortized Cost	15,690		17,824
Fixed maturity securities, held-to-maturity, fair value	16,570		19,657
Commercial mortgage and other loans	11,795		12,527
Commercial mortgage and other loans, fair value	11,457		12,217
Other investments carried at amortized cost	47	[1]	35	[2]
Other investments carried at amortized cost, fair value	47	[1]	35	[2]
Total financial instruments assets not carried at fair value	27,527		30,381
Assets fair value disclosure financial instruments carried at cost	28,074		31,909
Liabilities:
Other policyholders’ funds	5,439		6,169
Other policyholders' funds fair value disclosure	5,364		6,080
Notes payable	7,322		7,240
Notes payable, fair value disclosure	6,938		6,930
Total financial instrument liabilities not carried at fair value	12,761		13,409
Liabilities fair value disclosure financial instruments carried at cost	12,302		13,010
Government and agencies
Assets:
Amortized Cost	15,038		17,083
Fixed maturity securities, held-to-maturity, fair value	15,867		18,829
Municipalities
Assets:
Amortized Cost	232		266
Fixed maturity securities, held-to-maturity, fair value	256		307
Public utilities
Assets:
Amortized Cost	31		34
Fixed maturity securities, held-to-maturity, fair value	32		38
Sovereign and supranational
Assets:
Amortized Cost	368		418
Fixed maturity securities, held-to-maturity, fair value	398		462
Other corporate
Assets:
Amortized Cost	16		18
Fixed maturity securities, held-to-maturity, fair value	17		21
Policy loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	195		214
Equity method investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	2,983		2,750
Real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	497		227
Level 1
Assets:
Fixed maturity securities, held-to-maturity, fair value	15,727		18,662
Commercial mortgage and other loans, fair value	0		0
Other investments carried at amortized cost, fair value	0	[1]	0	[2]
Assets fair value disclosure financial instruments carried at cost	15,727		18,662
Liabilities:
Other policyholders' funds fair value disclosure	0		0
Notes payable, fair value disclosure	0		0
Liabilities fair value disclosure financial instruments carried at cost	0		0
Level 1 | Government and agencies
Assets:
Fixed maturity securities, held-to-maturity, fair value	15,727		18,662
Level 1 | Municipalities
Assets:
Fixed maturity securities, held-to-maturity, fair value	0		0
Level 1 | Public utilities
Assets:
Fixed maturity securities, held-to-maturity, fair value	0		0
Level 1 | Sovereign and supranational
Assets:
Fixed maturity securities, held-to-maturity, fair value	0		0
Level 1 | Other corporate
Assets:
Fixed maturity securities, held-to-maturity, fair value	0		0
Level 2
Assets:
Fixed maturity securities, held-to-maturity, fair value	843		995
Commercial mortgage and other loans, fair value	0		0
Other investments carried at amortized cost, fair value	47	[1]	35	[2]
Assets fair value disclosure financial instruments carried at cost	890		1,030
Liabilities:
Other policyholders' funds fair value disclosure	0		0
Notes payable, fair value disclosure	6,275		6,178
Liabilities fair value disclosure financial instruments carried at cost	6,275		6,178
Level 2 | Government and agencies
Assets:
Fixed maturity securities, held-to-maturity, fair value	140		167
Level 2 | Municipalities
Assets:
Fixed maturity securities, held-to-maturity, fair value	256		307
Level 2 | Public utilities
Assets:
Fixed maturity securities, held-to-maturity, fair value	32		38
Level 2 | Sovereign and supranational
Assets:
Fixed maturity securities, held-to-maturity, fair value	398		462
Level 2 | Other corporate
Assets:
Fixed maturity securities, held-to-maturity, fair value	17		21
Level 3
Assets:
Fixed maturity securities, held-to-maturity, fair value	0		0
Commercial mortgage and other loans, fair value	11,457		12,217
Other investments carried at amortized cost, fair value	0	[1]	0	[2]
Assets fair value disclosure financial instruments carried at cost	11,457		12,217
Liabilities:
Other policyholders' funds fair value disclosure	5,364		6,080
Notes payable, fair value disclosure	663		752
Liabilities fair value disclosure financial instruments carried at cost	6,027		6,832
Level 3 | Government and agencies
Assets:
Fixed maturity securities, held-to-maturity, fair value	0		0
Level 3 | Municipalities
Assets:
Fixed maturity securities, held-to-maturity, fair value	0		0
Level 3 | Public utilities
Assets:
Fixed maturity securities, held-to-maturity, fair value	0		0
Level 3 | Sovereign and supranational
Assets:
Fixed maturity securities, held-to-maturity, fair value	0		0
Level 3 | Other corporate
Assets:
Fixed maturity securities, held-to-maturity, fair value	$ 0		$ 0
[1] Excludes policy loans of $195, equity method investments of $2,983, and REO of $497, at carrying valu e. Excludes policy loans of $214, equity method investments of $2,750, and REO of $227, at carrying value.

FAIR VALUE MEASUREMENTS - Fai_3

FAIR VALUE MEASUREMENTS - Fair Value Hierarchy Levels of Assets by Pricing Source, Securities Carried at Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	$ 66,259	$ 73,290
Equity securities	728	1,088
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	17,520	21,700
Equity securities	571	840
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	46,683	49,809
Equity securities	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	2,056	1,781
Equity securities	157	248
Third party pricing vendor
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	571	800
Third party pricing vendor | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	571	800
Third party pricing vendor | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Third party pricing vendor | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Internal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities		216
Internal | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities		0
Internal | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities		0
Internal | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities		216
Broker/other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	157	72
Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	40
Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	157	32
Government and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	18,281	22,600
Government and agencies | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	17,520	21,700
Government and agencies | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	761	900
Government and agencies | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Government and agencies | Third party pricing vendor
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	17,970	22,500
Government and agencies | Third party pricing vendor | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	17,520	21,692
Government and agencies | Third party pricing vendor | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	450	808
Government and agencies | Third party pricing vendor | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Government and agencies | Internal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	311	60
Government and agencies | Internal | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Government and agencies | Internal | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	311	60
Government and agencies | Internal | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Government and agencies | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale		40
Government and agencies | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale		8
Government and agencies | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale		32
Government and agencies | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale		0
Municipalities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	2,083	2,298
Municipalities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Municipalities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	2,083	2,298
Municipalities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Municipalities | Third party pricing vendor
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	1,836	1,426
Municipalities | Third party pricing vendor | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Municipalities | Third party pricing vendor | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	1,836	1,426
Municipalities | Third party pricing vendor | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Municipalities | Internal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	247	256
Municipalities | Internal | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Municipalities | Internal | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	247	256
Municipalities | Internal | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Municipalities | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale		616
Municipalities | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale		0
Municipalities | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale		616
Municipalities | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale		0
Mortgage- and asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	3,703	3,086
Mortgage- and asset-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Mortgage- and asset-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	2,490	2,314
Mortgage- and asset-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	1,213	772
Mortgage- and asset-backed securities | Third party pricing vendor
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	2,486	2,277
Mortgage- and asset-backed securities | Third party pricing vendor | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Mortgage- and asset-backed securities | Third party pricing vendor | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	2,446	2,277
Mortgage- and asset-backed securities | Third party pricing vendor | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	40	0
Mortgage- and asset-backed securities | Internal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	83	132
Mortgage- and asset-backed securities | Internal | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Mortgage- and asset-backed securities | Internal | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	44	27
Mortgage- and asset-backed securities | Internal | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	39	105
Mortgage- and asset-backed securities | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	1,134	677
Mortgage- and asset-backed securities | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Mortgage- and asset-backed securities | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	10
Mortgage- and asset-backed securities | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	1,134	667
Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	6,826	7,592
Public utilities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Public utilities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	6,461	7,339
Public utilities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	365	253
Public utilities | Third party pricing vendor
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	3,576	4,570
Public utilities | Third party pricing vendor | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Public utilities | Third party pricing vendor | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	3,576	4,570
Public utilities | Third party pricing vendor | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Public utilities | Internal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	2,885	2,677
Public utilities | Internal | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Public utilities | Internal | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	2,885	2,677
Public utilities | Internal | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Public utilities | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	365	345
Public utilities | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Public utilities | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	92
Public utilities | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	365	253
Sovereign and supranational
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	460	537
Sovereign and supranational | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Sovereign and supranational | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	435	507
Sovereign and supranational | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	25	30
Sovereign and supranational | Third party pricing vendor
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	124	118
Sovereign and supranational | Third party pricing vendor | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Sovereign and supranational | Third party pricing vendor | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	124	118
Sovereign and supranational | Third party pricing vendor | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Sovereign and supranational | Internal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	311	330
Sovereign and supranational | Internal | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Sovereign and supranational | Internal | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	311	330
Sovereign and supranational | Internal | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Sovereign and supranational | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	25	89
Sovereign and supranational | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Sovereign and supranational | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	59
Sovereign and supranational | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	25	30
Banks/financial institutions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	8,699	8,835
Banks/financial institutions | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Banks/financial institutions | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	8,630	8,757
Banks/financial institutions | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	69	78
Banks/financial institutions | Third party pricing vendor
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	4,765	5,085
Banks/financial institutions | Third party pricing vendor | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Banks/financial institutions | Third party pricing vendor | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	4,765	5,085
Banks/financial institutions | Third party pricing vendor | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Banks/financial institutions | Internal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	3,925	3,077
Banks/financial institutions | Internal | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Banks/financial institutions | Internal | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	3,865	3,008
Banks/financial institutions | Internal | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	60	69
Banks/financial institutions | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	9	673
Banks/financial institutions | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Banks/financial institutions | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	664
Banks/financial institutions | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	9	9
Other corporate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	26,207	28,342
Other corporate | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Other corporate | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	25,823	27,694
Other corporate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	384	648
Other corporate | Third party pricing vendor
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	20,738	18,092
Other corporate | Third party pricing vendor | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Other corporate | Third party pricing vendor | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	20,738	18,088
Other corporate | Third party pricing vendor | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	4
Other corporate | Internal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	5,151	4,440
Other corporate | Internal | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Other corporate | Internal | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	5,024	4,210
Other corporate | Internal | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	127	230
Other corporate | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	318	5,810
Other corporate | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Other corporate | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	61	5,396
Other corporate | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	$ 257	$ 414

FAIR VALUE MEASUREMENTS - Fai_4

FAIR VALUE MEASUREMENTS - Fair Value Hierarchy Levels of Assets by Pricing Source, Securities Carried at Amortized Cost (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	$ 16,570	$ 19,657
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	15,727	18,662
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	843	995
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Government and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	15,867	18,829
Government and agencies | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	15,727	18,662
Government and agencies | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	140	167
Government and agencies | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Government and agencies | Third party pricing vendor
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	15,867	18,829
Government and agencies | Third party pricing vendor | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	15,727	18,662
Government and agencies | Third party pricing vendor | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	140	167
Government and agencies | Third party pricing vendor | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Municipalities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	256	307
Municipalities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Municipalities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	256	307
Municipalities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Municipalities | Third party pricing vendor
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	256	307
Municipalities | Third party pricing vendor | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Municipalities | Third party pricing vendor | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	256	307
Municipalities | Third party pricing vendor | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	32	38
Public utilities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Public utilities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	32	38
Public utilities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Public utilities | Third party pricing vendor
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	32	38
Public utilities | Third party pricing vendor | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Public utilities | Third party pricing vendor | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	32	38
Public utilities | Third party pricing vendor | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Sovereign and supranational
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	398	462
Sovereign and supranational | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Sovereign and supranational | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	398	462
Sovereign and supranational | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Sovereign and supranational | Third party pricing vendor
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	196	226
Sovereign and supranational | Third party pricing vendor | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Sovereign and supranational | Third party pricing vendor | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	196	226
Sovereign and supranational | Third party pricing vendor | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Sovereign and supranational | Internal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	202	236
Sovereign and supranational | Internal | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Sovereign and supranational | Internal | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	202	236
Sovereign and supranational | Internal | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Other corporate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	17	21
Other corporate | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Other corporate | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	17	21
Other corporate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Other corporate | Third party pricing vendor
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	17	21
Other corporate | Third party pricing vendor | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Other corporate | Third party pricing vendor | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	17	21
Other corporate | Third party pricing vendor | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Chang

FAIR VALUE MEASUREMENTS - Changes in Investments and Derivatives Carried at Fair Value Classified as Level 3 (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	$ 2,077	$ 1,940	$ 2,029	$ 1,987
Net investment gains (losses) included in earnings	(1)	(8)	(5)	(6)
Unrealized gains (losses) included in other comprehensive income (loss)	(17)	(52)	(36)	(7)
Purchases	286	173	506	450
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	(26)	(25)	(168)	(154)
Transfers into Level 3	246	124	472	142
Transfers out of Level 3	(352)	(312)	(585)	(572)
Balance, end of period	2,213	1,840	2,213	1,840
Changes in unrealized gains (losses) relating to Level 3 assets and liabilities still held at the end of the period included in earnings	$ (2)	$ (8)	$ (4)	$ (5)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net investment gains (losses)	Net investment gains (losses)	Net investment gains (losses)	Net investment gains (losses)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive Income (Loss), before Tax	Other Comprehensive Income (Loss), before Tax	Other Comprehensive Income (Loss), before Tax	Other Comprehensive Income (Loss), before Tax
Fixed maturity securities | Mortgage- and asset-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	$ 859	$ 418	$ 772	$ 343
Net investment gains (losses) included in earnings	1	0	2	0
Unrealized gains (losses) included in other comprehensive income (loss)	(5)	(13)	(9)	(10)
Purchases	189	136	307	328
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	(21)	(13)	(49)	(133)
Transfers into Level 3	190	124	190	124
Transfers out of Level 3	0	0	0	0
Balance, end of period	1,213	652	1,213	652
Changes in unrealized gains (losses) relating to Level 3 assets and liabilities still held at the end of the period included in earnings	1	0	2	0
Fixed maturity securities | Public utilities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	507	350	253	497
Net investment gains (losses) included in earnings	0	0	0	0
Unrealized gains (losses) included in other comprehensive income (loss)	(1)	(16)	(11)	(6)
Purchases	39	0	99	0
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	(3)	(2)	(25)	(9)
Transfers into Level 3	56	0	282	18
Transfers out of Level 3	(233)	(30)	(233)	(198)
Balance, end of period	365	302	365	302
Changes in unrealized gains (losses) relating to Level 3 assets and liabilities still held at the end of the period included in earnings	0	0	0	0
Fixed maturity securities | Sovereign and supranational
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	28	37	30	37
Net investment gains (losses) included in earnings	0	0	0	0
Unrealized gains (losses) included in other comprehensive income (loss)	(1)	(3)	(3)	(3)
Purchases	0	0	0	0
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	(2)	(2)	(2)	(2)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Balance, end of period	25	32	25	32
Changes in unrealized gains (losses) relating to Level 3 assets and liabilities still held at the end of the period included in earnings	0	0	0	0
Fixed maturity securities | Banks/financial institutions
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	74	161	78	159
Net investment gains (losses) included in earnings	0	0	0	0
Unrealized gains (losses) included in other comprehensive income (loss)	(5)	2	(9)	4
Purchases	0	0	5	0
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	0	(7)	(5)	(7)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	(87)	0	(87)
Balance, end of period	69	69	69	69
Changes in unrealized gains (losses) relating to Level 3 assets and liabilities still held at the end of the period included in earnings	0	0	0	0
Fixed maturity securities | Other corporate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	450	753	648	742
Net investment gains (losses) included in earnings	0	0	0	0
Unrealized gains (losses) included in other comprehensive income (loss)	(5)	(22)	(4)	8
Purchases	58	37	95	112
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	0	(1)	(3)	(3)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	(119)	(195)	(352)	(287)
Balance, end of period	384	572	384	572
Changes in unrealized gains (losses) relating to Level 3 assets and liabilities still held at the end of the period included in earnings	0	0	0	0
Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	159	221	248	209
Net investment gains (losses) included in earnings	(2)	(8)	(7)	(6)
Unrealized gains (losses) included in other comprehensive income (loss)	0	0	0	0
Purchases	0	0	0	10
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	(84)	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Balance, end of period	157	213	157	213
Changes in unrealized gains (losses) relating to Level 3 assets and liabilities still held at the end of the period included in earnings	$ (3)	$ (8)	$ (6)	$ (5)

FAIR VALUE MEASUREMENTS - Fai_5

FAIR VALUE MEASUREMENTS - Fair Value Measurement Inputs and Valuation Techniques (Details) $ in Millions		Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		$ 66,259	$ 73,290
Equity securities		728	1,088
Total assets		76,743	80,325
Level 3
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		2,056	1,781
Equity securities		157	248
Total assets		2,213	2,029
Adjusted cost valuation technique | Level 3 | Private Financials
Fair Value Measurement Inputs and Valuation Techniques
Equity securities		157	248
Municipalities
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		2,083	2,298
Municipalities | Level 3
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		0	0
Mortgage- and asset-backed securities
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		3,703	3,086
Mortgage- and asset-backed securities | Level 3
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		1,213	772
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		$ 1,213	$ 772
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Lower Limit | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[1]	85.46	84.81
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Upper Limit | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[1]	104.49	105.89
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Weighted Average | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[1]	98.74	99.39
Public utilities
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		$ 6,826	$ 7,592
Public utilities | Level 3
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		365	253
Public utilities | Consensus pricing valuation technique | Level 3 | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale			$ 253
Public utilities | Consensus pricing valuation technique | Level 3 | Lower Limit | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[1]		94.34
Public utilities | Consensus pricing valuation technique | Level 3 | Upper Limit | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[1]		102.99
Public utilities | Consensus pricing valuation technique | Level 3 | Weighted Average | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[1]		96.46
Public utilities | Discounted cash flow technique | Level 3 | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		$ 365
Public utilities | Discounted cash flow technique | Level 3 | Lower Limit | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[2]	0.0175
Public utilities | Discounted cash flow technique | Level 3 | Upper Limit | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[2]	0.0225
Public utilities | Discounted cash flow technique | Level 3 | Weighted Average | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[2]	0.0209
Sovereign and supranational
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		$ 460	$ 537
Sovereign and supranational | Level 3
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		25	30
Sovereign and supranational | Consensus pricing valuation technique | Level 3 | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		25	30
Banks/financial institutions
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		8,699	8,835
Banks/financial institutions | Level 3
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		69	78
Banks/financial institutions | Discounted cash flow technique | Level 3 | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		69	78
Other corporate
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		26,207	28,342
Other corporate | Level 3
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		384	648
Other corporate | Discounted cash flow technique | Level 3 | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		$ 384	$ 648
Other corporate | Discounted cash flow technique | Level 3 | Lower Limit | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[2]	0.0089	0.0069
Other corporate | Discounted cash flow technique | Level 3 | Upper Limit | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[2]	0.0363	0.0423
Other corporate | Discounted cash flow technique | Level 3 | Weighted Average | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[2]	0.0224	0.0206
[1]Represents prices for securities where the Company receives unadjusted broker quotes and for which there is no transparency into the providers' valuation techniques.[2]Actual or equivalent credit spreads in basis points.

DEFERRED POLICY ACQUISITION C_3

DEFERRED POLICY ACQUISITION COSTS - Schedule Of Deferred Policy Acquisition Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Deferred Policy Acquisition Cost [Line Items]
Balance, beginning of period			$ 9,132	$ 9,239	$ 9,239
Capitalization			508		1,086
Amortization expense	$ (208)	$ (202)	(424)	(407)	(816)
Foreign currency translation and other			(666)		(377)
Balance, end of period	8,550		8,550		9,132
Aflac Japan | Cancer
Deferred Policy Acquisition Cost [Line Items]
Balance, beginning of period			2,971	3,035	3,035
Capitalization			146		317
Amortization expense			(92)		(184)
Foreign currency translation and other			(358)		(197)
Balance, end of period	2,667		2,667		2,971
Aflac Japan | Medical and other health
Deferred Policy Acquisition Cost [Line Items]
Balance, beginning of period			2,041	2,161	2,161
Capitalization			55		123
Amortization expense			(50)		(105)
Foreign currency translation and other			(244)		(138)
Balance, end of period	1,802		1,802		2,041
Aflac Japan | Life insurance
Deferred Policy Acquisition Cost [Line Items]
Balance, beginning of period			491	525	525
Capitalization			15		33
Amortization expense			(16)		(34)
Foreign currency translation and other			(58)		(33)
Balance, end of period	432		432		491
Aflac Japan | Other
Deferred Policy Acquisition Cost [Line Items]
Balance, beginning of period			56	55	55
Capitalization			2		8
Amortization expense			(2)		(3)
Foreign currency translation and other			(6)		(4)
Balance, end of period	50		50		56
Aflac U.S. | Life insurance
Deferred Policy Acquisition Cost [Line Items]
Balance, beginning of period			172	135	135
Capitalization			31		61
Amortization expense			(14)		(24)
Foreign currency translation and other			0		0
Balance, end of period	189		189		172
Aflac U.S. | Accident
Deferred Policy Acquisition Cost [Line Items]
Balance, beginning of period			917	904	904
Capitalization			68		151
Amortization expense			(72)		(138)
Foreign currency translation and other			0		0
Balance, end of period	913		913		917
Aflac U.S. | Disability
Deferred Policy Acquisition Cost [Line Items]
Balance, beginning of period			625	613	613
Capitalization			62		125
Amortization expense			(59)		(113)
Foreign currency translation and other			0		0
Balance, end of period	628		628		625
Aflac U.S. | Critical Care
Deferred Policy Acquisition Cost [Line Items]
Balance, beginning of period			1,336	1,304	1,304
Capitalization			81		173
Amortization expense			(77)		(141)
Foreign currency translation and other			0		0
Balance, end of period	1,340		1,340		1,336
Aflac U.S. | Hospital Indemnity
Deferred Policy Acquisition Cost [Line Items]
Balance, beginning of period			436	418	418
Capitalization			41		84
Amortization expense			(36)		(66)
Foreign currency translation and other			0		0
Balance, end of period	441		441		436
Aflac U.S. | Dental/Vision
Deferred Policy Acquisition Cost [Line Items]
Balance, beginning of period			86	88	88
Capitalization			6		10
Amortization expense			(6)		(12)
Foreign currency translation and other			0		0
Balance, end of period	86		86		86
Aflac U.S. | Other
Deferred Policy Acquisition Cost [Line Items]
Balance, beginning of period			1	$ 1	1
Capitalization			1		1
Amortization expense			0		4
Foreign currency translation and other			0		(5)
Balance, end of period	$ 2		$ 2		$ 1

POLICY LIABILITIES - Schedule o

POLICY LIABILITIES - Schedule of Changes in Present Value of Expected Net Premiums and Expected Future Policy Benefits (Details) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
		Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Present value of expected future policy benefits:
Beginning balance		$ 132,131
Ending balance		112,297	$ 132,131
Net liability for future policy benefits		70,339	83,718
Aflac Japan | Cancer
Present value of expected premiums:
Beginning balance		17,509	19,298
Beginning balance at original discount rate		16,452	18,221
Effect of changes in cash flow assumptions			0	$ (165)
Effect of actual variances from expected experience			(77)	(315)
Adjusted beginning of period balance			16,375	17,741
Issuances		439	1,034
Interest accrual		189	412
Net premiums collected	[1]	(721)	(1,564)
Foreign currency translation		(1,956)	(1,170)
Other		0	(1)
Ending balance at original discount rate		14,326	16,452
Effect of changes in discount rate assumptions		326	1,057
Ending balance		14,652	17,509
Present value of expected future policy benefits:
Beginning balance		50,161	54,766
Beginning balance at original discount rate		43,626	47,677
Effect of changes in cash flow assumptions			0	(147)
Effect of actual variances from expected experience			(105)	(385)
Adjusted beginning of period balance			43,521	47,145
Issuances		448	1,059
Interest accrual		672	1,473
Benefit payments		(1,357)	(2,987)
Foreign currency translation		(5,192)	(3,064)
Other		0	0
Ending balance at original discount rate		38,092	43,626
Effect of changes in discount rate assumptions		3,456	6,535
Ending balance		41,548	50,161
Net liability for future policy benefits		26,896	32,652
Less: reinsurance recoverable		3,420	4,135
Net liability for future policy benefits after reinsurance recoverable		23,476	28,517
Aflac Japan | Medical and other health
Present value of expected premiums:
Beginning balance		14,697	16,714
Beginning balance at original discount rate		14,040	16,195
Effect of changes in cash flow assumptions			0	(470)
Effect of actual variances from expected experience			(84)	(137)
Adjusted beginning of period balance			13,956	15,588
Issuances		193	418
Interest accrual		149	334
Net premiums collected	[1]	(565)	(1,261)
Foreign currency translation		(1,661)	(1,038)
Other		0	(1)
Ending balance at original discount rate		12,072	14,040
Effect of changes in discount rate assumptions		47	657
Ending balance		12,119	14,697
Present value of expected future policy benefits:
Beginning balance		25,257	27,419
Beginning balance at original discount rate		25,023	27,566
Effect of changes in cash flow assumptions			0	(507)
Effect of actual variances from expected experience			(97)	(154)
Adjusted beginning of period balance			24,926	26,905
Issuances		199	432
Interest accrual		280	608
Benefit payments		(497)	(1,153)
Foreign currency translation		(2,983)	(1,769)
Other		0	0
Ending balance at original discount rate		21,925	25,023
Effect of changes in discount rate assumptions		(1,230)	234
Ending balance		20,695	25,257
Net liability for future policy benefits		8,576	10,560
Less: reinsurance recoverable		1,247	1,521
Net liability for future policy benefits after reinsurance recoverable		7,329	9,039
Aflac Japan | Life insurance
Present value of expected premiums:
Beginning balance		6,488	7,485
Beginning balance at original discount rate		6,258	7,284
Effect of changes in cash flow assumptions			0	43
Effect of actual variances from expected experience			(39)	(42)
Adjusted beginning of period balance			6,219	7,285
Issuances		105	335
Interest accrual		55	124
Net premiums collected	[1]	(435)	(1,017)
Foreign currency translation		(730)	(469)
Other		0	0
Ending balance at original discount rate		5,214	6,258
Effect of changes in discount rate assumptions		64	230
Ending balance		5,278	6,488
Present value of expected future policy benefits:
Beginning balance		29,731	31,954
Beginning balance at original discount rate		30,256	32,800
Effect of changes in cash flow assumptions			0	65
Effect of actual variances from expected experience			(46)	(51)
Adjusted beginning of period balance			30,210	32,814
Issuances		107	341
Interest accrual		287	625
Benefit payments		(827)	(1,415)
Foreign currency translation		(3,585)	(2,109)
Other		0	0
Ending balance at original discount rate		26,192	30,256
Effect of changes in discount rate assumptions		(1,822)	(525)
Ending balance		24,370	29,731
Net liability for future policy benefits		19,092	23,243
Less: reinsurance recoverable		0	0
Net liability for future policy benefits after reinsurance recoverable		19,092	23,243
Aflac Japan | Other
Present value of expected premiums:
Beginning balance		1,088	1,256
Beginning balance at original discount rate		1,069	1,242
Effect of changes in cash flow assumptions			0	(12)
Effect of actual variances from expected experience			(8)	(15)
Adjusted beginning of period balance			1,061	1,215
Issuances		10	26
Interest accrual		9	20
Net premiums collected	[1]	(50)	(112)
Foreign currency translation		(127)	(80)
Other		0	0
Ending balance at original discount rate		903	1,069
Effect of changes in discount rate assumptions		(12)	19
Ending balance		891	1,088
Present value of expected future policy benefits:
Beginning balance		5,178	5,582
Beginning balance at original discount rate		5,444	5,940
Effect of changes in cash flow assumptions			0	(27)
Effect of actual variances from expected experience			(14)	(15)
Adjusted beginning of period balance			5,430	5,898
Issuances		12	32
Interest accrual		46	100
Benefit payments		(97)	(206)
Foreign currency translation		(647)	(380)
Other		0	0
Ending balance at original discount rate		4,744	5,444
Effect of changes in discount rate assumptions		(500)	(266)
Ending balance		4,244	5,178
Net liability for future policy benefits		3,353	4,090
Less: reinsurance recoverable		0	0
Net liability for future policy benefits after reinsurance recoverable		3,353	4,090
Aflac U.S. | Life insurance
Present value of expected premiums:
Beginning balance		853	724
Beginning balance at original discount rate		909	799
Effect of changes in cash flow assumptions			0	61
Effect of actual variances from expected experience			(18)	(25)
Adjusted beginning of period balance			891	835
Issuances		117	181
Interest accrual		18	31
Net premiums collected	[1]	(76)	(137)
Foreign currency translation		0	0
Other		(3)	(1)
Ending balance at original discount rate		947	909
Effect of changes in discount rate assumptions		(73)	(56)
Ending balance		874	853
Present value of expected future policy benefits:
Beginning balance		1,764	1,526
Beginning balance at original discount rate		1,971	1,778
Effect of changes in cash flow assumptions			0	72
Effect of actual variances from expected experience			(25)	(32)
Adjusted beginning of period balance			1,946	1,818
Issuances		121	185
Interest accrual		38	68
Benefit payments		(57)	(105)
Foreign currency translation		0	0
Other		0	5
Ending balance at original discount rate		2,048	1,971
Effect of changes in discount rate assumptions		(280)	(207)
Ending balance		1,768	1,764
Net liability for future policy benefits		894	911
Less: reinsurance recoverable		15	15
Net liability for future policy benefits after reinsurance recoverable		879	896
Aflac U.S. | Accident
Present value of expected premiums:
Beginning balance		2,488	2,534
Beginning balance at original discount rate		2,630	2,760
Effect of changes in cash flow assumptions			0	(16)
Effect of actual variances from expected experience			3	(58)
Adjusted beginning of period balance			2,633	2,686
Issuances		174	323
Interest accrual		52	102
Net premiums collected	[1]	(236)	(473)
Foreign currency translation		0	0
Other		(3)	(8)
Ending balance at original discount rate		2,620	2,630
Effect of changes in discount rate assumptions		(197)	(142)
Ending balance		2,423	2,488
Present value of expected future policy benefits:
Beginning balance		3,109	3,098
Beginning balance at original discount rate		3,302	3,391
Effect of changes in cash flow assumptions			0	(11)
Effect of actual variances from expected experience			0	(75)
Adjusted beginning of period balance			3,302	3,305
Issuances		179	331
Interest accrual		65	127
Benefit payments		(259)	(464)
Foreign currency translation		0	0
Other		(1)	3
Ending balance at original discount rate		3,286	3,302
Effect of changes in discount rate assumptions		(266)	(193)
Ending balance		3,020	3,109
Net liability for future policy benefits		597	621
Less: reinsurance recoverable		0	0
Net liability for future policy benefits after reinsurance recoverable		597	621
Aflac U.S. | Disability
Present value of expected premiums:
Beginning balance		1,652	1,635
Beginning balance at original discount rate		1,738	1,775
Effect of changes in cash flow assumptions			0	(51)
Effect of actual variances from expected experience			0	(29)
Adjusted beginning of period balance			1,738	1,695
Issuances		203	376
Interest accrual		33	62
Net premiums collected	[1]	(201)	(390)
Foreign currency translation		0	0
Other		(4)	(5)
Ending balance at original discount rate		1,769	1,738
Effect of changes in discount rate assumptions		(108)	(86)
Ending balance		1,661	1,652
Present value of expected future policy benefits:
Beginning balance		2,422	2,445
Beginning balance at original discount rate		2,541	2,636
Effect of changes in cash flow assumptions			0	(59)
Effect of actual variances from expected experience			(11)	(59)
Adjusted beginning of period balance			2,530	2,518
Issuances		212	392
Interest accrual		49	96
Benefit payments		(229)	(465)
Foreign currency translation		0	0
Other		0	0
Ending balance at original discount rate		2,562	2,541
Effect of changes in discount rate assumptions		(157)	(119)
Ending balance		2,405	2,422
Net liability for future policy benefits		744	770
Less: reinsurance recoverable		0	0
Net liability for future policy benefits after reinsurance recoverable		744	770
Aflac U.S. | Critical Care
Present value of expected premiums:
Beginning balance		4,074	4,486
Beginning balance at original discount rate		4,416	5,050
Effect of changes in cash flow assumptions			0	(494)
Effect of actual variances from expected experience			(60)	(223)
Adjusted beginning of period balance			4,356	4,333
Issuances		323	493
Interest accrual		87	179
Net premiums collected	[1]	(286)	(580)
Foreign currency translation		0	0
Other		(3)	(9)
Ending balance at original discount rate		4,477	4,416
Effect of changes in discount rate assumptions		(472)	(342)
Ending balance		4,005	4,074
Present value of expected future policy benefits:
Beginning balance		11,290	11,489
Beginning balance at original discount rate		12,120	12,846
Effect of changes in cash flow assumptions			0	(592)
Effect of actual variances from expected experience			(84)	(271)
Adjusted beginning of period balance			12,036	11,983
Issuances		336	505
Interest accrual		258	524
Benefit payments		(460)	(893)
Foreign currency translation		0	0
Other		0	1
Ending balance at original discount rate		12,170	12,120
Effect of changes in discount rate assumptions		(1,323)	(830)
Ending balance		10,847	11,290
Net liability for future policy benefits		6,842	7,216
Less: reinsurance recoverable		0	0
Net liability for future policy benefits after reinsurance recoverable		6,842	7,216
Aflac U.S. | Hospital Indemnity
Present value of expected premiums:
Beginning balance		1,107	1,220
Beginning balance at original discount rate		1,193	1,365
Effect of changes in cash flow assumptions			0	(142)
Effect of actual variances from expected experience			(6)	(73)
Adjusted beginning of period balance			1,187	1,150
Issuances		138	249
Interest accrual		22	45
Net premiums collected	[1]	(120)	(247)
Foreign currency translation		0	0
Other		0	(4)
Ending balance at original discount rate		1,227	1,193
Effect of changes in discount rate assumptions		(109)	(86)
Ending balance		1,118	1,107
Present value of expected future policy benefits:
Beginning balance		1,943	2,074
Beginning balance at original discount rate		2,076	2,300
Effect of changes in cash flow assumptions			0	(194)
Effect of actual variances from expected experience			(13)	(99)
Adjusted beginning of period balance			2,063	2,007
Issuances		144	258
Interest accrual		41	84
Benefit payments		(154)	(274)
Foreign currency translation		0	0
Other		1	1
Ending balance at original discount rate		2,095	2,076
Effect of changes in discount rate assumptions		(188)	(133)
Ending balance		1,907	1,943
Net liability for future policy benefits		789	836
Less: reinsurance recoverable		0	0
Net liability for future policy benefits after reinsurance recoverable		789	836
Aflac U.S. | Dental/Vision
Present value of expected premiums:
Beginning balance		206	211
Beginning balance at original discount rate		217	231
Effect of changes in cash flow assumptions			0	(9)
Effect of actual variances from expected experience			(7)	(17)
Adjusted beginning of period balance			210	205
Issuances		29	44
Interest accrual		4	8
Net premiums collected	[1]	(20)	(39)
Foreign currency translation		0	0
Other		1	(1)
Ending balance at original discount rate		224	217
Effect of changes in discount rate assumptions		(16)	(11)
Ending balance		208	206
Present value of expected future policy benefits:
Beginning balance		478	488
Beginning balance at original discount rate		506	532
Effect of changes in cash flow assumptions			0	(14)
Effect of actual variances from expected experience			(9)	(22)
Adjusted beginning of period balance			497	496
Issuances		30	46
Interest accrual		10	21
Benefit payments		(29)	(59)
Foreign currency translation		0	0
Other		0	2
Ending balance at original discount rate		508	506
Effect of changes in discount rate assumptions		(40)	(28)
Ending balance		468	478
Net liability for future policy benefits		260	272
Less: reinsurance recoverable		0	0
Net liability for future policy benefits after reinsurance recoverable		260	272
Aflac U.S. | Other
Present value of expected premiums:
Beginning balance		277	110
Beginning balance at original discount rate		272	118
Effect of changes in cash flow assumptions			0	(9)
Effect of actual variances from expected experience			11	(2)
Adjusted beginning of period balance			283	107
Issuances		264	169
Interest accrual		9	6
Net premiums collected	[1]	(20)	(17)
Foreign currency translation		0	0
Other		(4)	7
Ending balance at original discount rate		532	272
Effect of changes in discount rate assumptions		0	5
Ending balance		532	277
Present value of expected future policy benefits:
Beginning balance		798	622
Beginning balance at original discount rate		769	624
Effect of changes in cash flow assumptions			0	(13)
Effect of actual variances from expected experience			11	(4)
Adjusted beginning of period balance			780	$ 607
Issuances		265	169
Interest accrual		22	33
Benefit payments		(42)	(48)
Foreign currency translation		0	0
Other		2	8
Ending balance at original discount rate		1,027	769
Effect of changes in discount rate assumptions		(2)	29
Ending balance		1,025	798
Net liability for future policy benefits		493	521
Less: reinsurance recoverable		1	0
Net liability for future policy benefits after reinsurance recoverable		$ 492	$ 521
[1] Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments.

POLICY LIABILITIES - Schedule_2

POLICY LIABILITIES - Schedule of Weighted-Average Interest Rate and Liability for Future Policy Benefit (Details)		Jun. 30, 2024	Dec. 31, 2023
Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	3.90%	3.90%
Weighted-average interest, current discount rate	[1]	2.20%	1.80%
Weighted-average liability duration		13 years	13 years 1 month 6 days
Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	2.50%	2.60%
Weighted-average interest, current discount rate	[1]	2.70%	2.30%
Weighted-average liability duration		24 years 4 months 24 days	24 years 10 months 24 days
Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	2.10%	2.10%
Weighted-average interest, current discount rate	[1]	2%	1.70%
Weighted-average liability duration		16 years 1 month 6 days	16 years 3 months 18 days
Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	3.80%	3.70%
Weighted-average interest, current discount rate	[1]	5.40%	5.30%
Weighted-average liability duration		13 years 8 months 12 days	13 years 7 months 6 days
Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	3.90%	3.90%
Weighted-average interest, current discount rate	[1]	5.40%	5.30%
Weighted-average liability duration		8 years	8 years 1 month 6 days
Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	4.30%	4.20%
Weighted-average interest, current discount rate	[1]	5.30%	5.30%
Weighted-average liability duration		5 years 7 months 6 days	5 years 7 months 6 days
Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	4.50%	4.60%
Weighted-average interest, current discount rate	[1]	5.40%	5.30%
Weighted-average liability duration		11 years 2 months 12 days	11 years 3 months 18 days
Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	4.50%	4.40%
Weighted-average interest, current discount rate	[1]	5.40%	5.30%
Weighted-average liability duration		9 years 2 months 12 days	9 years 3 months 18 days
Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	4.30%	4.30%
Weighted-average interest, current discount rate	[1]	5.40%	5.30%
Weighted-average liability duration		7 years 9 months 18 days	7 years 10 months 24 days
Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	1.80%	1.80%
Weighted-average interest, current discount rate	[1]	2.40%	2.10%
Weighted-average liability duration		17 years	17 years 3 months 18 days
Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	5.40%	5.40%
Weighted-average interest, current discount rate	[1]	5.40%	5.30%
Weighted-average liability duration		9 years 1 month 6 days	9 years 4 months 24 days
[1] The weighted-average interest rates are calculated using the reserve balances as the weights. No adjustments were made to observable market information.

POLICY LIABILITIES - Reconcilia

POLICY LIABILITIES - Reconciliation of Future Policy Benefits (Details) - USD ($) $ in Millions		Jun. 30, 2024	Dec. 31, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		$ 70,339	$ 83,718
Deferred reinsurance gain liability		148	175
Deferred Profit Liability - Limited-payment Contracts
Liability for Future Policy Benefit, Activity [Line Items]
Deferred profit liability - limited-payment contracts		1,667	1,806
Deferred reinsurance gain liability		820	1,012
Intercompany eliminations
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	[1]	(4,089)	(5,017)
Corporate and other | Operating Segments
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		3,405	4,225
Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		26,896	32,652
Cancer | Aflac Japan | Operating Segments
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		26,896	32,652
Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		8,576	10,560
Medical and other health | Aflac Japan | Operating Segments
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		8,576	10,560
Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		19,092	23,243
Life insurance | Aflac Japan | Operating Segments
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		19,092	23,243
Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		894	911
Life insurance | Aflac U.S. | Operating Segments
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		894	911
Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		597	621
Accident | Aflac U.S. | Operating Segments
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		597	621
Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		744	770
Disability | Aflac U.S. | Operating Segments
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		744	770
Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		6,842	7,216
Critical Care | Aflac U.S. | Operating Segments
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		6,842	7,216
Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		789	836
Hospital Indemnity | Aflac U.S. | Operating Segments
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		789	836
Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		260	272
Dental/Vision | Aflac U.S. | Operating Segments
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		260	272
Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		3,353	4,090
Other | Aflac Japan | Operating Segments
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		3,353	4,090
Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		493	521
Other | Aflac U.S. | Operating Segments
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits		$ 493	$ 521
[1]Elimination entry necessary due to the internal reinsurance transactions with Aflac Re and to recapture a portion of policy liabilities ceded externally as a result of the reinsurance retrocession transaction. See Note 8 of the Notes to the Consolidated Financial Statements in the 2023 Annual Report.

POLICY LIABILITIES - Summary of

POLICY LIABILITIES - Summary of Net Earned Premiums Recognized (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums	$ 3,325	$ 3,573	$ 6,781	$ 7,262
Reinsurance ceded	(66)	(103)	(135)	(210)
Corporate and other
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums	155	84	320	175
Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums	832	1,054	1,710	2,149
Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums	570	672	1,175	1,377
Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums	316	390	655	812
Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums	141	115	279	228
Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums	316	322	641	652
Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums	332	318	665	627
Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums	441	439	885	882
Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums	182	182	367	367
Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums	46	53	105	107
Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums	35	38	69	77
Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums	$ 25	$ 9	$ 45	$ 19

POLICY LIABILITIES - Summary _2

POLICY LIABILITIES - Summary of Interest Expense Related to Insurance Contracts Recognized (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	$ 565	$ 629	$ 1,141	$ 1,270
Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	237	276	483	561
Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	66	72	131	143
Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	114	130	232	263
Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	10	10	20	19
Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	7	6	13	12
Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	8	10	16	18
Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	86	86	171	173
Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	10	10	19	20
Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	3	3	6	6
Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	18	20	37	42
Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	$ 6	$ 6	$ 13	$ 13

POLICY LIABILITIES - Summary _3

POLICY LIABILITIES - Summary of Undiscounted Expected Future Gross Premiums and Future Benefits and Expenses (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	$ 142,128	$ 156,494
Benefits and Expenses	173,563	193,058
Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	51,506	59,169
Benefits and Expenses	57,838	66,427
Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	33,233	38,583
Benefits and Expenses	34,968	39,884
Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	10,707	12,677
Benefits and Expenses	36,842	42,541
Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	2,865	2,719
Benefits and Expenses	3,432	3,260
Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	9,047	9,095
Benefits and Expenses	4,533	4,548
Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	5,811	5,776
Benefits and Expenses	3,213	3,177
Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	19,966	19,886
Benefits and Expenses	20,670	20,626
Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	4,964	4,922
Benefits and Expenses	3,055	3,025
Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	1,154	1,162
Benefits and Expenses	729	726
Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	1,523	1,781
Benefits and Expenses	6,467	7,448
Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	1,352	724
Benefits and Expenses	$ 1,816	$ 1,396

POLICY LIABILITIES - Summary _4

POLICY LIABILITIES - Summary of Discounted Expected Future Gross Premiums and Future Benefits and Expenses (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	$ 105,979	$ 121,753
Benefits and Expenses	112,297	132,131
Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	40,474	48,363
Benefits and Expenses	41,548	50,161	$ 54,766
Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	25,392	30,757
Benefits and Expenses	20,695	25,257	27,419
Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	9,226	11,240
Benefits and Expenses	24,370	29,731	31,954
Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	1,968	1,914
Benefits and Expenses	1,768	1,764	1,526
Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	6,184	6,369
Benefits and Expenses	3,020	3,109	3,098
Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	4,434	4,488
Benefits and Expenses	2,405	2,422	2,445
Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	12,076	12,417
Benefits and Expenses	10,847	11,290	11,489
Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	3,369	3,419
Benefits and Expenses	1,907	1,943	2,074
Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	780	807
Benefits and Expenses	468	478	488
Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	1,250	1,512
Benefits and Expenses	4,244	5,178	5,582
Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	826	467
Benefits and Expenses	$ 1,025	$ 798	$ 622

POLICY LIABILITIES - Schedule_3

POLICY LIABILITIES - Schedule of Changes in Other Policyholders' Funds (Details) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
		Jun. 30, 2024	Dec. 31, 2023
Policyholder Account Balance [Line Items]
Other deposit type reserves		$ 259	$ 230
Total		5,439	6,169
Aflac Japan | Fixed Annuity
Policyholder Account Balance [Line Items]
Beginning balance	[1]	5,939	6,423
Premiums received	[1]	51	126
Transfers from WAYS conversions	[1]	116	229
Surrenders and withdrawals	[1]	(31)	(59)
Benefit payments	[1]	(208)	(419)
Interest credited	[1]	24	53
Foreign currency translation and other	[1]	(711)	(414)
Ending balance	[1]	$ 5,180	$ 5,939
[1] Aflac Japan fixed annuities

POLICY LIABILITIES - Schedule_4

POLICY LIABILITIES - Schedule of Other Policyholders' Funds by Guaranteed Crediting Rates (Details) - USD ($) $ in Millions		Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Weighted Average Crediting Rate		1.50%	1.50%
Aflac Japan | Fixed Annuity
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
At Guaranteed Minimum	[1]	$ 5,180	$ 5,939	$ 6,423
Cash Surrender Value	[1]	$ 5,106	$ 5,850
Lower Limit | Aflac Japan | Fixed Annuity
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Guaranteed Minimum Crediting Rates	[1],[2]	0.50%	0.50%
Upper Limit | Aflac Japan | Fixed Annuity
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Guaranteed Minimum Crediting Rates	[1],[2]	2.20%	2.30%
[1] Aflac Japan fixed annuities Weighted-average crediting rate of 1.5% at June 30, 2024 and December 31, 2023.

POLICY LIABILITIES - Additional

POLICY LIABILITIES - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Effect of changes in discount rate assumptions during period, net of income taxes	$ 2,920	$ 1,065	$ (165)	$ (2,794)
Accumulated Other Comprehensive Income (Loss)
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Effect of changes in discount rate assumptions during period, net of income taxes	$ 2,920	$ 1,065	$ (165)	$ (2,794)	$ 4,000	$ (3,000)	$ (460)

REINSURANCE - Effect of Reinsur

REINSURANCE - Effect of Reinsurance on Premiums and Benefits and Claims (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Effects of Reinsurance [Line Items]
Direct earned premiums		$ 3,352	$ 3,623	$ 6,834	$ 7,361
Ceded premiums		(66)	(103)	(135)	(210)
Net earned premiums	[1]	3,325	3,573	6,781	7,262
Direct benefits and claims, excluding reserve remeasurement		1,995	2,182	4,077	4,438
Benefits and claims, excluding reserve remeasurement		1,972	2,152	4,039	4,354
Reserve remeasurement (gains) losses, direct		(51)	(54)	(108)	(107)
Reserve remeasurement gains (losses), ceded		0	0	1	0
Reserve remeasurement (gains) losses, assumed		0	0	0	0
Reserve remeasurement (gains) losses		(51)	(54)	(107)	(107)
Benefits and claims, net		1,921	2,098	3,932	4,247
All other
Effects of Reinsurance [Line Items]
Ceded premiums		(35)	(23)	(70)	(45)
Assumed premiums earned		12	23	26	47
Ceded benefits and claims		(19)	6	(33)	(21)
Assumed benefits and claims from other companies		1	18	5	27
Aflac Japan | Closed Block
Effects of Reinsurance [Line Items]
Ceded premiums		(31)	(80)	(65)	(165)
Assumed premiums earned		27	30	56	64
Ceded benefits and claims		(17)	(74)	(35)	(151)
Assumed benefits and claims from other companies		$ 12	$ 20	$ 25	$ 61
[1] Includes a gain (loss) of $(2) and $(1) for the three-month periods and $(5) and $(1) for the six-month periods ended June 30, 2024 and 2023, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts.

REINSURANCE - Additional Inform

REINSURANCE - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Reinsurance Disclosures [Abstract]
Deferred reinsurance gain liability	$ 148	$ 175
Reinsurance recoverable	162	183
Reinsurance Recoverable, Allowance for Credit Loss	$ (3)	$ (10)

NOTES PAYABLE AND LEASE OBLIG_3

NOTES PAYABLE AND LEASE OBLIGATIONS - Summary of Notes Payable (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Notes payable and lease obligations	$ 7,430	$ 7,364
Finance lease obligations	5	6
Operating lease obligations	103	118
1.125% senior sustainability notes due March 2026
Debt Instrument [Line Items]
Notes payable and lease obligations	399	398
2.875% senior notes due October 2026
Debt Instrument [Line Items]
Notes payable and lease obligations	299	299
3.60% senior notes due April 2030
Debt Instrument [Line Items]
Notes payable and lease obligations	993	993
6.90% senior notes due December 2039
Debt Instrument [Line Items]
Notes payable and lease obligations	221	221
6.45% senior notes due August 2040
Debt Instrument [Line Items]
Notes payable and lease obligations	255	254
4.00% senior notes due October 2046
Debt Instrument [Line Items]
Notes payable and lease obligations	394	394
4.750% senior notes due January 2049
Debt Instrument [Line Items]
Notes payable and lease obligations	542	542
.300% senior notes due September 2025
Debt Instrument [Line Items]
Notes payable and lease obligations	77	87
.932% senior notes due January 2027
Debt Instrument [Line Items]
Notes payable and lease obligations	371	422
1.048% senior notes due March 2029
Debt Instrument [Line Items]
Notes payable and lease obligations	80	0
1.075% senior notes due September 2029
Debt Instrument [Line Items]
Notes payable and lease obligations	207	234
.500% senior notes due December 2029
Debt Instrument [Line Items]
Notes payable and lease obligations	78	88
.550% senior notes due March 2030
Debt Instrument [Line Items]
Notes payable and lease obligations	82	93
1.159% senior notes due October 2030
Debt Instrument [Line Items]
Notes payable and lease obligations	181	206
1.412% senior notes due March 2031
Debt Instrument [Line Items]
Notes payable and lease obligations	172	0
.633% senior notes due April 2031
Debt Instrument [Line Items]
Notes payable and lease obligations	186	211
.843% senior notes due December 2031
Debt Instrument [Line Items]
Notes payable and lease obligations	57	65
.750% senior notes due March 2032
Debt Instrument [Line Items]
Notes payable and lease obligations	128	145
1.320% senior notes due December 2032
Debt Instrument [Line Items]
Notes payable and lease obligations	130	148
.844% senior notes due April 2033
Debt Instrument [Line Items]
Notes payable and lease obligations	74	84
1.488% senior notes due October 2033
Debt Instrument [Line Items]
Notes payable and lease obligations	94	106
1.682% senior notes due March 2034
Debt Instrument [Line Items]
Notes payable and lease obligations	48	0
1.600% senior notes due March 2034
Debt Instrument [Line Items]
Notes payable and lease obligations	112	0
.934% senior notes due December 2034
Debt Instrument [Line Items]
Notes payable and lease obligations	60	69
.830% senior notes due March 2035
Debt Instrument [Line Items]
Notes payable and lease obligations	65	74
1.740% senior notes due March 2036
Debt Instrument [Line Items]
Notes payable and lease obligations	92	0
1.039% senior notes due April 2036
Debt Instrument [Line Items]
Notes payable and lease obligations	61	70
1.594% senior notes due September 2037
Debt Instrument [Line Items]
Notes payable and lease obligations	40	45
1.750% senior notes due October 2038
Debt Instrument [Line Items]
Notes payable and lease obligations	55	62
1.920% senior notes due March 2039
Debt Instrument [Line Items]
Notes payable and lease obligations	101	0
1.122% senior notes due December 2039
Debt Instrument [Line Items]
Notes payable and lease obligations	39	44
1.264% senior notes due April 2041
Debt Instrument [Line Items]
Notes payable and lease obligations	62	70
2.160% senior notes due March 2044
Debt Instrument [Line Items]
Notes payable and lease obligations	35	0
2.108% subordinated notes due October 2047
Debt Instrument [Line Items]
Notes payable and lease obligations	368	419
.963% subordinated bonds paid April 2024
Debt Instrument [Line Items]
Notes payable and lease obligations	0	211
1.560% senior notes due April 2051
Debt Instrument [Line Items]
Notes payable and lease obligations	123	140
2.144% senior notes due September 2052
Debt Instrument [Line Items]
Notes payable and lease obligations	74	84
1.958% subordinated bonds due December 2053
Debt Instrument [Line Items]
Notes payable and lease obligations	185	210
2.400% senior notes due March 2054
Debt Instrument [Line Items]
Notes payable and lease obligations	119	0
Yen-denominated loan variable interest rate due August 2027
Debt Instrument [Line Items]
Notes payable and lease obligations	73	82
Yen-denominated loan variable interest rate due August 2029
Debt Instrument [Line Items]
Notes payable and lease obligations	157	178
Yen-denominated loan variable interest rate due August 2032
Debt Instrument [Line Items]
Notes payable and lease obligations	$ 433	$ 492

NOTES PAYABLE AND LEASE OBLIG_4

NOTES PAYABLE AND LEASE OBLIGATIONS - Summary of Notes Payable (Details 2) - JPY (¥) ¥ in Billions	Jun. 30, 2024	Apr. 01, 2024	Mar. 31, 2024	Dec. 31, 2023
1.125% senior sustainability notes due March 2026
Debt Instrument [Line Items]
Debt instrument, interest rate	1.125%			1.125%
2.875% senior notes due October 2026
Debt Instrument [Line Items]
Debt instrument, interest rate	2.875%			2.875%
3.60% senior notes due April 2030
Debt Instrument [Line Items]
Debt instrument, interest rate	3.60%			3.60%
6.90% senior notes due December 2039
Debt Instrument [Line Items]
Debt instrument, interest rate	6.90%			6.90%
6.45% senior notes due August 2040
Debt Instrument [Line Items]
Debt instrument, interest rate	6.45%			6.45%
4.00% senior notes due October 2046
Debt Instrument [Line Items]
Debt instrument, interest rate	4%			4%
4.750% senior notes due January 2049
Debt Instrument [Line Items]
Debt instrument, interest rate	4.75%			4.75%
.300% senior notes due September 2025
Debt Instrument [Line Items]
Debt instrument, interest rate	0.30%			0.30%
Debt instrument, principal amount	¥ 12.4			¥ 12.4
.932% senior notes due January 2027
Debt Instrument [Line Items]
Debt instrument, interest rate	0.932%			0.932%
Debt instrument, principal amount	¥ 60			¥ 60
1.048% senior notes due March 2029
Debt Instrument [Line Items]
Debt instrument, interest rate	1.048%		1.048%
Debt instrument, principal amount	¥ 13		¥ 13
1.075% senior notes due September 2029
Debt Instrument [Line Items]
Debt instrument, interest rate	1.075%			1.075%
Debt instrument, principal amount	¥ 33.4			¥ 33.4
.500% senior notes due December 2029
Debt Instrument [Line Items]
Debt instrument, interest rate	0.50%			0.50%
Debt instrument, principal amount	¥ 12.6			¥ 12.6
.550% senior notes due March 2030
Debt Instrument [Line Items]
Debt instrument, interest rate	0.55%			0.55%
Debt instrument, principal amount	¥ 13.3			¥ 13.3
1.159% senior notes due October 2030
Debt Instrument [Line Items]
Debt instrument, interest rate	1.159%			1.159%
Debt instrument, principal amount	¥ 29.3			¥ 29.3
1.412% senior notes due March 2031
Debt Instrument [Line Items]
Debt instrument, interest rate	1.412%		1.412%
Debt instrument, principal amount	¥ 27.9		¥ 27.9
.633% senior notes due April 2031
Debt Instrument [Line Items]
Debt instrument, interest rate	0.633%			0.633%
Debt instrument, principal amount	¥ 30			¥ 30
.843% senior notes due December 2031
Debt Instrument [Line Items]
Debt instrument, interest rate	0.843%			0.843%
Debt instrument, principal amount	¥ 9.3			¥ 9.3
.750% senior notes due March 2032
Debt Instrument [Line Items]
Debt instrument, interest rate	0.75%			0.75%
Debt instrument, principal amount	¥ 20.7			¥ 20.7
1.320% senior notes due December 2032
Debt Instrument [Line Items]
Debt instrument, interest rate	1.32%			1.32%
Debt instrument, principal amount	¥ 21.1			¥ 21.1
.844% senior notes due April 2033
Debt Instrument [Line Items]
Debt instrument, interest rate	0.844%			0.844%
Debt instrument, principal amount	¥ 12			¥ 12
1.488% senior notes due October 2033
Debt Instrument [Line Items]
Debt instrument, interest rate	1.488%			1.488%
Debt instrument, principal amount	¥ 15.2			¥ 15.2
1.682% senior notes due March 2034
Debt Instrument [Line Items]
Debt instrument, interest rate	1.682%		1.682%
Debt instrument, principal amount	¥ 7.7		¥ 7.7
1.600% senior notes due March 2034
Debt Instrument [Line Items]
Debt instrument, interest rate	1.60%		1.60%
Debt instrument, principal amount	¥ 18.3		¥ 18.3
.934% senior notes due December 2034
Debt Instrument [Line Items]
Debt instrument, interest rate	0.934%			0.934%
Debt instrument, principal amount	¥ 9.8			¥ 9.8
.830% senior notes due March 2035
Debt Instrument [Line Items]
Debt instrument, interest rate	0.83%			0.83%
Debt instrument, principal amount	¥ 10.6			¥ 10.6
1.740% senior notes due March 2036
Debt Instrument [Line Items]
Debt instrument, interest rate	1.74%		1.74%
Debt instrument, principal amount	¥ 15		¥ 15
1.039% senior notes due April 2036
Debt Instrument [Line Items]
Debt instrument, interest rate	1.039%			1.039%
Debt instrument, principal amount	¥ 10			¥ 10
1.594% senior notes due September 2037
Debt Instrument [Line Items]
Debt instrument, interest rate	1.594%			1.594%
Debt instrument, principal amount	¥ 6.5			¥ 6.5
1.750% senior notes due October 2038
Debt Instrument [Line Items]
Debt instrument, interest rate	1.75%			1.75%
Debt instrument, principal amount	¥ 8.9			¥ 8.9
1.920% senior notes due March 2039
Debt Instrument [Line Items]
Debt instrument, interest rate	1.92%		1.92%
Debt instrument, principal amount	¥ 16.5		¥ 16.5
1.122% senior notes due December 2039
Debt Instrument [Line Items]
Debt instrument, interest rate	1.122%			1.122%
Debt instrument, principal amount	¥ 6.3			¥ 6.3
1.264% senior notes due April 2041
Debt Instrument [Line Items]
Debt instrument, interest rate	1.264%			1.264%
Debt instrument, principal amount	¥ 10			¥ 10
2.160% senior notes due March 2044
Debt Instrument [Line Items]
Debt instrument, interest rate	2.16%		2.16%
Debt instrument, principal amount	¥ 5.7		¥ 5.7
2.108% subordinated notes due October 2047
Debt Instrument [Line Items]
Debt instrument, interest rate	2.108%			2.108%
Debt instrument, principal amount	¥ 60			¥ 60
.963% subordinated bonds paid April 2024
Debt Instrument [Line Items]
Debt instrument, interest rate		0.963%		0.963%
Debt instrument, principal amount				¥ 30
1.560% senior notes due April 2051
Debt Instrument [Line Items]
Debt instrument, interest rate	1.56%			1.56%
Debt instrument, principal amount	¥ 20			¥ 20
2.144% senior notes due September 2052
Debt Instrument [Line Items]
Debt instrument, interest rate	2.144%			2.144%
Debt instrument, principal amount	¥ 12			¥ 12
1.958% subordinated bonds due December 2053
Debt Instrument [Line Items]
Debt instrument, interest rate	1.958%			1.958%
Debt instrument, principal amount	¥ 30			¥ 30
2.400% senior notes due March 2054
Debt Instrument [Line Items]
Debt instrument, interest rate	2.40%		2.40%
Debt instrument, principal amount	¥ 19.5		¥ 19.5
Yen-denominated loan variable interest rate due August 2027
Debt Instrument [Line Items]
Debt instrument, interest rate	0.55%			0.35%
Debt instrument, principal amount	¥ 11.7			¥ 11.7
Yen-denominated loan variable interest rate due August 2029
Debt Instrument [Line Items]
Debt instrument, interest rate	0.65%			0.45%
Debt instrument, principal amount	¥ 25.3			¥ 25.3
Yen-denominated loan variable interest rate due August 2032
Debt Instrument [Line Items]
Debt instrument, interest rate	0.80%			0.60%
Debt instrument, principal amount	¥ 70			¥ 70

NOTES PAYABLE AND LEASE OBLIG_5

NOTES PAYABLE AND LEASE OBLIGATIONS - Summary of Lines of Credit (Details) - 6 months ended Jun. 30, 2024 $ in Millions, ¥ in Billions	USD ($)	JPY (¥)
$100 million line of credit
Line of Credit Facility [Line Items]
Line of credit facility, term	364 days
Line of credit facility, maximum borrowing capacity	$ 100
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	The rate quoted by the bank and agreed upon at the time of borrowing
100.0 billion yen line of credit
Line of Credit Facility [Line Items]
Line of credit facility, term	5 years
Line of credit facility, maximum borrowing capacity | ¥		¥ 100
Line of credit facility, amount outstanding | ¥		0
Line of credit facility, interest rate description	A rate per annum equal to (a) Tokyo Interbank Market Rate (TIBOR) plus, the alternative applicable TIBOR margin during the availability period from the closing date to the commitment termination date or (b) the TIBOR rate offered by the agent to major banks in yen for the applicable period plus, the applicable alternative TIBOR margin during the term out period
$1 billion line of credit
Line of Credit Facility [Line Items]
Line of credit facility, term	5 years
Line of credit facility, maximum borrowing capacity	$ 1,000
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	A rate per annum equal to, at the Company's option, either, (a) Secured Overnight Financing Rate (SOFR) for U.S. dollar-denominated borrowings or TIBOR for Japanese yen-denominated borrowings, in either case adjusted for certain costs, or (b) a base rate determined by reference to the highest of (1) the federal funds rate plus 1/2 of 1%, (2) the rate of interest for such day announced by the agent as its prime rate, or (3) SOFR for an interest period of one month plus 1.00%, in each case plus an applicable margin
$50 million line of credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 50
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	A rate per annum equal to, at the Parent Company's option, either (a) a rate determined by reference to SOFR for the interest period relevant to such borrowing or (b) the base rate determined by reference to the highest of (1) the lender's USD short-term commercial loan rate and (2) the federal funds rate plus 1/2 of 1%
$250 million line of credit
Line of Credit Facility [Line Items]
Line of credit facility, term	364 days
Line of credit facility, maximum borrowing capacity	$ 250
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum
50.0 billion yen line of credit (Tranche 1)
Line of Credit Facility [Line Items]
Line of credit facility, term	364 days
Line of credit facility, maximum borrowing capacity | ¥		50
Line of credit facility, amount outstanding | ¥		0
Line of credit facility, interest rate description	Three-month yen TIBOR plus 75 basis points per annum
50.0 billion yen line of credit (Tranche 2)
Line of Credit Facility [Line Items]
Line of credit facility, term	364 days
Line of credit facility, maximum borrowing capacity | ¥		50
Line of credit facility, amount outstanding | ¥		¥ 0
Line of credit facility, interest rate description	Three-month yen TIBOR plus 75 basis points per annum
$25 million line of credit (Aflac New York as borrower)
Line of Credit Facility [Line Items]
Line of credit facility, term	364 days
Line of credit facility, maximum borrowing capacity	$ 25
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum
$15 million line of credit
Line of Credit Facility [Line Items]
Line of credit facility, term	364 days
Line of credit facility, maximum borrowing capacity	$ 15
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum
$300 thousand line of credit
Line of Credit Facility [Line Items]
Line of credit facility, term	364 days
Line of credit facility, maximum borrowing capacity	$ 0.3
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum
$30 million line of credit
Line of Credit Facility [Line Items]
Line of credit facility, term	364 days
Line of credit facility, maximum borrowing capacity	$ 30
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum
$400 million line of credit (Aflac Incorporated as borrower)
Line of Credit Facility [Line Items]
Line of credit facility, term	364 days
Line of credit facility, maximum borrowing capacity	$ 400
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 97 basis points per annum for U.S. dollar-denominated borrowings or three-month TIBOR plus 97 basis points per annum for Japanese yen-denominated borrowings
$400 million line of credit (Aflac Re Bermuda Ltd. as borrower)
Line of Credit Facility [Line Items]
Line of credit facility, term	364 days
Line of credit facility, maximum borrowing capacity	$ 400
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 68 basis points per annum for U.S. dollar-denominated borrowings or three-month TIBOR plus 68 basis points per annum for Japanese yen-denominated borrowings
$25 million line of credit (Aflac Asset Management as borrower)
Line of Credit Facility [Line Items]
Line of credit facility, term	214 days
Line of credit facility, maximum borrowing capacity	$ 25
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 68 basis points per annum for U.S. dollar-denominated borrowings or three-month TIBOR plus 68 basis points per annum for Japanese yen-denominated borrowings
$2 million line of credit
Line of Credit Facility [Line Items]
Line of credit facility, term	214 days
Line of credit facility, maximum borrowing capacity	$ 2
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 68 basis points per annum for U.S. dollar-denominated borrowings or three-month TIBOR plus 68 basis points per annum for Japanese yen-denominated borrowings
Lower Limit | 100.0 billion yen line of credit
Line of Credit Facility [Line Items]
Line of credit facility, commitment fee percentage	0.28%
Lower Limit | $1 billion line of credit
Line of Credit Facility [Line Items]
Line of credit facility, commitment fee percentage	0.08%
Upper Limit | 100.0 billion yen line of credit
Line of Credit Facility [Line Items]
Line of credit facility, commitment fee percentage	0.45%
Upper Limit | $1 billion line of credit
Line of Credit Facility [Line Items]
Line of credit facility, commitment fee percentage	0.20%

NOTES PAYABLE AND LEASE OBLIG_6

NOTES PAYABLE AND LEASE OBLIGATIONS - Additional Information (Details) $ in Millions, ¥ in Billions	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 31, 2024 JPY (¥) series	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 JPY (¥)	Jun. 30, 2024 USD ($)	Apr. 01, 2024 JPY (¥)	Dec. 31, 2023 JPY (¥)
Debt Instrument [Line Items]
Number of Senior Notes Issued Through a Private Placement | series	5
Number of Senior Notes Issued Through a Public Offering | series	3
Interest expense on debt | $		$ 49	$ 50	$ 96	$ 96
.963% subordinated bonds paid April 2024
Debt Instrument [Line Items]
Debt instrument, principal amount redeemed								¥ 30
Debt instrument, principal amount									¥ 30
Debt instrument, interest rate								0.963%	0.963%
Senior Notes Issued Through a Private Placement
Debt Instrument [Line Items]
Debt instrument, principal amount	¥ 75
1.600% senior notes due March 2034
Debt Instrument [Line Items]
Debt instrument, principal amount	¥ 18.3					¥ 18.3
Debt instrument, interest rate	1.60%					1.60%	1.60%
1.740% senior notes due March 2036
Debt Instrument [Line Items]
Debt instrument, principal amount	¥ 15					¥ 15
Debt instrument, interest rate	1.74%					1.74%	1.74%
1.920% senior notes due March 2039
Debt Instrument [Line Items]
Debt instrument, principal amount	¥ 16.5					¥ 16.5
Debt instrument, interest rate	1.92%					1.92%	1.92%
2.160% senior notes due March 2044
Debt Instrument [Line Items]
Debt instrument, principal amount	¥ 5.7					¥ 5.7
Debt instrument, interest rate	2.16%					2.16%	2.16%
2.400% senior notes due March 2054
Debt Instrument [Line Items]
Debt instrument, principal amount	¥ 19.5					¥ 19.5
Debt instrument, interest rate	2.40%					2.40%	2.40%
Senior Notes Issued Through a Public Offering
Debt Instrument [Line Items]
Debt instrument, principal amount	¥ 48.6
1.048% senior notes due March 2029
Debt Instrument [Line Items]
Debt instrument, principal amount	¥ 13					¥ 13
Debt instrument, interest rate	1.048%					1.048%	1.048%
1.412% senior notes due March 2031
Debt Instrument [Line Items]
Debt instrument, principal amount	¥ 27.9					¥ 27.9
Debt instrument, interest rate	1.412%					1.412%	1.412%
1.682% senior notes due March 2034
Debt Instrument [Line Items]
Debt instrument, principal amount	¥ 7.7					¥ 7.7
Debt instrument, interest rate	1.682%					1.682%	1.682%
Lines of credit
Debt Instrument [Line Items]
Debt instrument, debt default, amount | $							$ 0
Notes payable
Debt Instrument [Line Items]
Debt instrument, debt default, amount | $							$ 0

SHAREHOLDERS' EQUITY - Reconcil

SHAREHOLDERS' EQUITY - Reconciliation of Number of Shares of Common Stock (Detail) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Common Stock Issued [Roll Forward]
Balance, beginning of period	1,355,398	1,354,079
Exercise of stock options and issuance of restricted shares	1,220	1,148
Balance, end of period	1,356,618	1,355,227
Treasury Stock [Roll Forward]
Balance, beginning of period	776,919	738,823
Share repurchase program	18,564	20,809
Balance, end of period	795,249	759,258
Shares outstanding, end of period	561,369	595,969
Treasury Stock
Treasury Stock [Roll Forward]
Other purchases	480	354
Shares issued to AFL Stock Plan	(430)	(498)
Exercise of stock options	(98)	(52)
Other dispositions	(186)	(178)

SHAREHOLDERS' EQUITY - Anti-Dil

SHAREHOLDERS' EQUITY - Anti-Dilutive Share-Based Awards Excluded from Calculation of Diluted Earnings Per Share (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Anti-dilutive share-based awards	0	39	35	102

SHAREHOLDERS' EQUITY - Changes

SHAREHOLDERS' EQUITY - Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	$ (5,102)	$ (7,278)	$ (5,520)	$ (6,429)
Other comprehensive income (loss) before reclassifications net of tax	1,849	(41)	2,399	(845)
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	(39)	(19)	(171)	(64)
Other comprehensive income (loss), net of tax	1,810	(60)	2,228	(909)
Balance, end of period	(3,292)	(7,338)	(3,292)	(7,338)
Unrealized Foreign Currency Translation Gains (Losses)
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	(4,666)	(3,618)	(4,069)	(3,564)
Other comprehensive income (loss) before reclassifications net of tax	(425)	(631)	(1,022)	(685)
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	0	0	0	0
Other comprehensive income (loss), net of tax	(425)	(631)	(1,022)	(685)
Balance, end of period	(5,091)	(4,249)	(5,091)	(4,249)
Unrealized Gains (Losses) on Fixed Maturity Securities
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	1,092	1,289	1,139	(702)
Other comprehensive income (loss) before reclassifications net of tax	(652)	710	(566)	2,746
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	(39)	(21)	(172)	(66)
Other comprehensive income (loss), net of tax	(691)	689	(738)	2,680
Balance, end of period	401	1,978	401	1,978
Unrealized Gains (Losses) on Derivatives
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	(26)	(26)	(22)	(27)
Other comprehensive income (loss) before reclassifications net of tax	3	0	(2)	1
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	1	1	2	1
Other comprehensive income (loss), net of tax	4	1	0	2
Balance, end of period	(22)	(25)	(22)	(25)
Effect of Changes in Discount Rate Assumptions
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	(1,495)	(4,894)	(2,560)	(2,100)
Other comprehensive income (loss) before reclassifications net of tax	2,920	(165)	3,985	(2,959)
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	0	0	0	0
Other comprehensive income (loss), net of tax	2,920	(165)	3,985	(2,959)
Balance, end of period	1,425	(5,059)	1,425	(5,059)
Pension Liability Adjustment
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	(7)	(29)	(8)	(36)
Other comprehensive income (loss) before reclassifications net of tax	3	45	4	52
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	(1)	1	(1)	1
Other comprehensive income (loss), net of tax	2	46	3	53
Balance, end of period	$ (5)	$ 17	$ (5)	$ 17

SHAREHOLDERS' EQUITY - Reclassi

SHAREHOLDERS' EQUITY - Reclassifications Out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions		3 Months Ended				6 Months Ended
		Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net investment gains (losses)		$ 696		$ 555		$ 1,647	$ 678
Acquisition and operating expenses		(1,198)		(1,249)		(2,453)	(2,558)
Income tax (expense) or benefit		(264)		(191)		(556)	(345)
Net of tax		$ 1,755	$ 1,879	$ 1,634	$ 1,188	$ 3,634	$ 2,822
U.S. federal statutory income tax rate		21%		21%		21%	21%
Reclassification Out Of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of tax		$ 39		$ 19		$ 171	$ 64
Reclassification Out Of Accumulated Other Comprehensive Income | Unrealized gains (losses) on available-for-sale securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net investment gains (losses)		50		27		218	84
Income tax (expense) or benefit	[1]	(11)		(6)		(46)	(18)
Net of tax		39		21		172	66
Reclassification Out Of Accumulated Other Comprehensive Income | Unrealized Gains (Losses) on Derivatives
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net investment gains (losses)		(1)		(1)		(2)	(1)
Income tax (expense) or benefit	[1]	0		0		0	0
Net of tax		(1)		(1)		(2)	(1)
Reclassification Out Of Accumulated Other Comprehensive Income | Pension liability adjustment, actuarial gains (losses)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Acquisition and operating expenses	[2]	1		(1)		1	(1)
Reclassification Out Of Accumulated Other Comprehensive Income | Pension liability adjustment, prior service (cost) credit
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Acquisition and operating expenses	[2]	0		0		0	0
Reclassification Out Of Accumulated Other Comprehensive Income | Pension Liability Adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax (expense) or benefit	[1]	0		0		0	0
Net of tax		$ 1		$ (1)		$ 1	$ (1)
[1]Based on 21% tax rate[2] These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 12 for additional details).

SHAREHOLDERS' EQUITY - Addition

SHAREHOLDERS' EQUITY - Additional Information (Detail) - USD ($) shares in Thousands, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Stockholders Equity Note [Line Items]
Stock acquired under share repurchase program, shares					18,564	20,809
Common stock, share repurchase, dollar amount	$ 810	$ 793	$ 708	$ 732
Remaining common stock available for purchase under share repurchase authorizations	59,200				59,200
Share Repurchase Program
Stockholders Equity Note [Line Items]
Stock acquired under share repurchase program, shares					18,600	20,800
Common stock, share repurchase, dollar amount					$ 1,600	$ 1,400

SHARE-BASED COMPENSATION - Stoc

SHARE-BASED COMPENSATION - Stock Options Outstanding and Exercisable (Detail) $ / shares in Units, shares in Thousands, $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Options Outstanding - Stock Option Shares | shares	744
Options Outstanding - Weighted-Average Remaining Term (Yrs)	2 years
Options Outstanding - Aggregate Intrinsic Value | $	$ 42
Options Outstanding - Weighted-Average Exercise Price Per Share | $ / shares	$ 33.54
Options Exercisable - Stock Option Shares | shares	744
Options Exercisable - Weighted-Average Remaining Term (Yrs.)	2 years
Options Exercisable - Aggregate Intrinsic Value | $	$ 42
Options Exercisable - Weighted-Average Exercise Price Per Share | $ / shares	$ 33.54

SHARE-BASED COMPENSATION - Rest

SHARE-BASED COMPENSATION - Restricted Stock Activity (Details) - Restricted Stock shares in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Shares
Beginning Balance | shares	2,308
Granted | shares	1,254
Canceled | shares	(17)
Vested | shares	(1,421)
Ending Balance | shares	2,124
Weighted-Average Grant-Date Fair Value Per Share
Beginning Balance | $ / shares	$ 62.96
Granted | $ / shares	79.99
Cancelled | $ / shares	69.33
Vested | $ / shares	46.83
Ending Balance | $ / shares	$ 73.04

SHARE-BASED COMPENSATION - Addi

SHARE-BASED COMPENSATION - Additional Information (Detail) - USD ($) shares in Thousands, $ in Millions	1 Months Ended	6 Months Ended
	Feb. 29, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from stock options exercised		$ 9	$ 10
Tax benefit from exercise of stock options		$ 27	$ 19
Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, maximum number of shares issuable		75,000
Share-based compensation arrangement by share-based payment award, maximum number of shares issuable other than options and stock appreciation rights		38,000
Shares available for future grants under the long-term incentive plan		33,600
Long-term incentive plan awards, term (in years)		10 years
Long-term incentive plan awards, vesting period		3 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized, restricted stock awards		$ 60
Share-based compensation arrangement by share-based payment award, equity instruments other than options, nonvested, number, shares		2,124		2,308
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition		1 year 9 months 18 days
Restricted stock awards, grants in period		1,254
Performance-based Vesting Condition | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized, restricted stock awards		$ 31
Share-based compensation arrangement by share-based payment award, equity instruments other than options, nonvested, number, shares		1,800
Restricted stock awards, grants in period	303

BENEFIT PLANS - Net Periodic (B

BENEFIT PLANS - Net Periodic (Benefit) Cost Included in Acquisition and Operating Expenses (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Postretirement Benefits Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	0	1	0	1
Expected return on plan assets	0	0	0	0
Amortization of net actuarial loss	0	1	0	1
Curtailment (gain) loss	0	0	0	0
Net periodic (benefit) cost	0	2	0	2
Japan | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	3	3	7	7
Interest cost	2	2	4	4
Expected return on plan assets	(1)	(1)	(3)	(3)
Amortization of net actuarial loss	0	0	0	0
Curtailment (gain) loss	0	0	0	0
Net periodic (benefit) cost	4	4	8	8
U.S. | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0	3	0	7
Interest cost	10	10	19	21
Expected return on plan assets	(8)	(9)	(15)	(18)
Amortization of net actuarial loss	(1)	0	(1)	0
Curtailment (gain) loss	0	(49)	0	(49)
Net periodic (benefit) cost	$ 1	$ (45)	$ 3	$ (39)

BENEFIT PLANS - Additional Info

BENEFIT PLANS - Additional Information (Detail) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	Jan. 01, 2014	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Amount of years active employees have left to meet rule of 80 in order to be eligible for postretirement medical benefits	5 years
Amount of years left to meet 15 year service requirement for active employees age 55 or older to be eligible for postretirement medical benefits	5 years
Net periodic (benefit) cost, excluding service cost		$ 2	$ (45)	$ 4	$ (43)
Lower Limit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Health care plan, retirement age and years of service combined years for eligibility (rule of 80)	80 years
Health care plan, retirement age for eligibility, (in years)	55 years
Health care plan, number of years of service for eligibility	15 years
Japan | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment		0	0	0	0
Employer contributions				12
U.S. | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment		$ 0	$ 49	0	$ 49
Employer contributions				$ 0

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES - Additional Information (Details) ¥ in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 JPY (¥)
Information Technology and Data Service Company Cloud Hosting Services
Commitments and Contingencies Disclosure [Line Items]
Outsourcing agreement, remaining term	3 years	3 years
Outsourcing agreement, aggregate remaining cost	$ 68
Management Consulting and Technology Services Company Application Maintenance and Development Services
Commitments and Contingencies Disclosure [Line Items]
Outsourcing agreement, remaining term	5 years	5 years
Outsourcing agreement, aggregate remaining cost	$ 299	¥ 48,200
Information Technology and Software Company Application Maintenance and Development Services Agreement
Commitments and Contingencies Disclosure [Line Items]
Outsourcing agreement, remaining term	6 years	6 years
Outsourcing agreement, aggregate remaining cost	$ 42	¥ 6,800