Lincoln National (LNC) 10-Q 2 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	Apr. 29, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	1-6028
Entity Registrant Name	LINCOLN NATIONAL CORPORATION
Entity Incorporation, State or Country Code	IN
Entity Tax Identification Number	35-1140070
Entity Address, Address Line One	150 N. Radnor-Chester Road
Entity Address, Address Line Two	Suite A305
Entity Address, City or Town	Radnor
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19087
City Area Code	484
Local Phone Number	583-1400
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		170,026,818
Entity Central Index Key	0000059558
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	LNC
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1000th interest in a share of 9.000% Non-Cumulative Preferred Stock, Series D
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1000th interest in a share of 9.000% Non-Cumulative Preferred Stock, Series D
Trading Symbol	LNC PRD
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Investments:
Fixed maturity available-for-sale securities, at fair value	$ 87,764	$ 88,738
Trading securities	2,227	2,359
Equity securities	319	306
Mortgage loans on real estate, net of allowance for credit losses	19,266	18,963
Policy loans	2,476	2,476
Derivative investments	8,394	6,474
Other investments	5,256	5,015
Total investments	125,702	124,331
Cash and invested cash	4,122	3,365
Deferred acquisition costs, value of business acquired and deferred sales inducements	12,405	12,397
Reinsurance recoverables, net of allowance for credit losses	29,461	29,843
Deposit assets, net of allowance for credit losses	28,904	28,789
Market risk benefit assets	4,878	3,894
Accrued investment income	1,127	1,082
Goodwill	1,144	1,144
Other assets	9,413	9,311
Separate account assets	166,225	158,257
Total assets	383,381	372,413
Liabilities
Policyholder account balances	122,300	120,737
Future contract benefits	38,848	39,864
Funds withheld reinsurance liabilities	17,486	17,641
Market risk benefit liabilities	1,266	1,716
Deferred front-end loads	6,099	5,901
Payables for collateral on investments	10,117	8,105
Short-term debt	503	250
Long-term debt	5,726	5,699
Other liabilities	7,265	7,350
Separate account liabilities	166,225	158,257
Total liabilities	375,835	365,520
Contingencies and Commitments (See Note 14)
Stockholders’ Equity
Common stock	4,624	4,605
Retained earnings	5,887	4,778
Accumulated other comprehensive income (loss)	(3,951)	(3,476)
Total stockholders’ equity	7,546	6,893
Total liabilities and stockholders’ equity	383,381	372,413
Series C Preferred Stock
Stockholders’ Equity
Preferred stock	493	493
Series D Preferred Stock
Stockholders’ Equity
Preferred stock	$ 493	$ 493

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fixed maturity available-for-sale securities, at fair value
Amortized Cost	$ 97,546	$ 97,433
Allowance for Credit Losses	21	19
Mortgage loans on real estate, net of allowance for credit losses
Fair value	$ 289	$ 288
Stockholders’ Equity
Preferred stock - authorized (in shares)	10,000,000	10,000,000
Preferred stock - issued (in shares)	40,000	40,000
Preferred stock - outstanding (in shares)	40,000	40,000
Common stock - authorized (in shares)	800,000,000	800,000,000
Common stock - issued (in shares)	170,016,887	169,666,137
Common stock - outstanding (in shares)	170,016,887	169,666,137
Series C Preferred Stock
Stockholders’ Equity
Preferred stock - authorized (in shares)	20,000	20,000
Preferred stock - issued (in shares)	20,000	20,000
Preferred stock - outstanding (in shares)	20,000	20,000
Series D Preferred Stock
Stockholders’ Equity
Preferred stock - authorized (in shares)	20,000	20,000
Preferred stock - issued (in shares)	20,000	20,000
Preferred stock - outstanding (in shares)	20,000	20,000

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues
Insurance premiums	$ 1,601	$ 1,579
Fee income	1,324	1,379
Net investment income	1,346	1,466
Realized gain (loss)	(434)	(828)
Amortization of deferred gain (loss) on business sold through reinsurance	(12)	9
Other revenues	291	209
Total revenues	4,116	3,814
Expenses
Benefits	2,003	2,291
Interest credited	822	785
Market risk benefit (gain) loss	(1,907)	619
Policyholder liability remeasurement (gain) loss	(12)	(118)
Commissions and other expenses	1,601	1,324
Interest and debt expense	81	83
Total expenses	2,588	4,984
Income (loss) before taxes	1,528	(1,170)
Federal income tax expense (benefit)	306	(289)
Net income (loss)	1,222	(881)
Other comprehensive income (loss), net of tax:
Unrealized investment gain (loss)	(127)	1,774
Market risk benefit non-performance risk gain (loss)	(464)	1,025
Policyholder liability discount rate remeasurement gain (loss)	116	(202)
Foreign currency translation adjustment	(1)	3
Funded status of employee benefit plans	1	(2)
Total other comprehensive income (loss), net of tax	(475)	2,598
Comprehensive income (loss)	747	1,717
Net Income (Loss) Available to Common Stockholders
Net income (loss)	1,222	(881)
Preferred stock dividends declared	(34)	(25)
Deferred units of LNC stock in our deferred compensation plans	3	(3)
Net income (loss) available to common stockholders	$ 1,191	$ (909)
Net Income (Loss) Per Common Share
Basic (in dollars per share)	$ 6.98	$ (5.35)
Diluted (in dollars per share)	6.93	(5.37)
Cash Dividends Declared Per Preferred Share (in dollars per share)	1,718.75	1,254.69
Cash Dividends Declared Per Common Share (in dollars per share)	0.45	0.45
Series C Preferred Stock
Net Income (Loss) Per Common Share
Cash Dividends Declared Per Preferred Share (in dollars per share)	1,156.25	635.94
Series D Preferred Stock
Net Income (Loss) Per Common Share
Cash Dividends Declared Per Preferred Share (in dollars per share)	$ 562.50	$ 618.75

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Preferred Stock	Common Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Balance as of beginning-of-year at Dec. 31, 2022		$ 986	$ 4,544	$ 5,924	$ (6,352)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation/issued for benefit plans			16
Net income (loss)	$ (881)			(881)
Preferred stock dividends declared				(25)
Common stock dividends declared				(78)
Other comprehensive income (loss), net of tax	2,598				2,598
Balance as of end-of-period at Mar. 31, 2023	6,732	986	4,560	4,940	(3,754)
Balance as of beginning-of-year at Dec. 31, 2023	6,893	986	4,605	4,778	(3,476)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation/issued for benefit plans			19
Net income (loss)	1,222			1,222
Preferred stock dividends declared				(34)
Common stock dividends declared				(79)
Other comprehensive income (loss), net of tax	(475)				(475)
Balance as of end-of-period at Mar. 31, 2024	$ 7,546	$ 986	$ 4,624	$ 5,887	$ (3,951)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash Flows from Operating Activities
Net income (loss)	$ 1,222	$ (881)
Adjustments to reconile net income (loss) to net cash provided by (used in) operating activities:
Realized (gain) loss	434	828
Market risk benefit (gain) loss	(1,907)	619
Sales and maturities (purchases) of trading securities, net	129	290
Amortization of deferred gain (loss) on business sold through reinsurance	12	(9)
Change in:
Deferred acquisition costs, value of business acquired, deferred ales inducements and deferred front-end loads	190	156
Accrued investment income	(32)	4
Insurance liabilities and reinsurance-related balances	(1,047)	(1,322)
Accrued expenses	(41)	(143)
Federal income tax accruals	306	(289)
Other	(609)	(27)
Net cash provided by (used in) operating activities	(1,343)	(774)
Cash Flows from Investing Activities
Purchases of available-for-sale securities and equity securities	(2,360)	(2,999)
Sales of available-for-sale securities and equity securities	677	1,739
Maturities of available-for-sale securities	1,694	1,440
Purchases of alternative investments	(315)	(170)
Sales and repayments of alternative investments	16	22
Issuance of mortgage loans on real estate	(571)	(269)
Repayment and maturities of mortgage loans on real estate	267	183
Repayment (issuance) of policy loans, net	(1)	(27)
Net change in collateral on investments, certain derivatives and related settlements	2,232	(184)
Other	0	(60)
Net cash provided by (used in) investing activities	1,639	(325)
Cash Flows from Financing Activities
Payment of long-term debt, including current maturities	(47)	0
Issuance of long-term debt, net of issuance costs	347	0
Payment related to sale-leaseback transactions	(4)	(5)
Payment related to certain financing arrangements	(16)	(10)
Deposits of fixed account balances	3,602	4,192
Withdrawals of fixed account balances	(3,215)	(2,570)
Transfers from (to) separate accounts, net	(90)	21
Common stock issued for benefit plans	(5)	(4)
Dividends paid to preferred stockholders	(34)	(25)
Dividends paid to common stockholders	(77)	(77)
Net cash provided by (used in) financing activities	461	1,522
Net increase (decrease) in cash, invested cash and restricted cash	757	423
Cash, invested cash and restricted cash as of beginning-of-year	3,365	3,343
Cash, invested cash and restricted cash as of end-of-period	$ 4,122	$ 3,766

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations and Basis of Presentation Nature of Operations Lincoln National Corporation and its subsidiaries (“LNC” or the “Company,” which also may be referred to as “we,” “our” or “us”) operate multiple insurance businesses through four business segments: Annuities, Life Insurance, Group Protection and Retirement Plan Services. In addition, we include financial data for operations that are not directly related to our business segments in Other Operations. The collective group of businesses uses “Lincoln Financial Group” as its marketing identity. Through our business segments, we sell a wide range of wealth accumulation, wealth protection, group protection and retirement income products and solutions. These products primarily include variable annuities, fixed annuities (including indexed), registered index-linked annuities (“RILA”), universal life insurance (“UL”), variable universal life insurance (“VUL”), linked-benefit UL and VUL, indexed universal life insurance (“IUL”), term life insurance, group life, disability and dental and employer-sponsored retirement plans and services. For more information on our segments and the products and solutions we provide, see Note 16 Basis of Presentation The accompanying unaudited consolidated financial statements are prepared in accordance with United States of America generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions for the Securities and Exchange Commission (“SEC”) Quarterly Report on Form 10-Q, including Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. The information contained in the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2023 (“2023 Form 10-K”), should be read in connection with the reading of these interim unaudited consolidated financial statements. Certain GAAP policies, which significantly affect the determination of financial condition, results of operations and cash flows, are summarized in our 2023 Form 10-K. In the opinion of management, these statements include all normal recurring adjustments necessary for a fair presentation of the Company’s results. Interim results for the three months ended March 31, 2024, are not necessarily indicative of the results that may be expected for the full year ending December 31, 2024. All material inter-company accounts and transactions have been eliminated in consolidation. Certain amounts reported in prior periods’ consolidated financial statements have been reclassified to conform to the presentation adopted in the current period. We present disaggregated disclosures in the Notes below for long-duration insurance balances, applying the level of aggregation by reportable segment as follows: Reportable Segment Level of Aggregation Annuities Variable Annuities Fixed Annuities Payout Annuities Life Insurance Traditional Life UL and Other Group Protection Group Protection Retirement Plan Services Retirement Plan Services The variable annuities level of aggregation includes RILA products, which are indexed variable annuities. The fixed annuities level of aggregation represents deferred fixed annuities. We have excluded amounts reported in Other Operations from our disaggregated disclosures that are attributable to the indemnity reinsurance agreements with Protective Life Insurance Company (“Protective”) and Swiss Re Life & Health America, Inc (“Swiss Re”) as these contracts are fully reinsured, run-off institutional pension business in the form of group annuity and the results of certain disability income business and are not reflected in the results of the reportable segments listed above. Sale of Wealth Management Business On December 14, 2023, we announced that we had entered into a Stock Purchase Agreement with Osaic Holdings, Inc., a Delaware corporation (“Osaic”), pursuant to which Osaic agreed to acquire all of the ownership interests in the subsidiaries of the Company that comprise the Company’s wealth management business, which include Lincoln Financial Securities Corporation and Lincoln Financial Advisors Corporation. The transaction is expected to close in the first half of 2024, subject to customary closing conditions. As of March 31, 2024, we had assets of $155 million and liabilities of $81 million classified as held-for-sale and reported within other assets and other liabilities, respectively, on our Consolidated Balance Sheets. As of December 31, 2023, we had assets of $131 million and liabilities of $60 million classified as held-for-sale and reported within other assets and other liabilities, respectively, on our Consolidated Balance Sheets. Assets considered held-for-sale do not include $71 million of cash and invested cash held by our wealth management business subsidiaries as of March 31, 2024. The assets are reported primarily within Other Operations in Note 1

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Standards	New Accounting Standards Adoption of New Accounting Standards In the current period, we did not adopt any new Accounting Standards Updates (“ASUs”) issued by the Financial Accounting Standards Board that were material in presentation or amount. Future Adoption of New Accounting Standards The following table provides a description of future adoptions of new ASUs that may have an impact on our consolidated financial statements when adopted. ASUs not listed below were assessed and determined to be either not applicable or insignificant in presentation or amount. Standard Description Effective Date Effect on Financial Statements or Other Significant Matters ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures This ASU aims to enhance reportable segment disclosure requirements. It requires that a public entity disclose significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), disclose and describe other segment items and report additional measures of a segment’s profit or loss if used by the CODM. January 1, 2024 (Annual Filings) and January 1, 2025 (Quarterly Filings) We are evaluating the impact of this ASU to our consolidated financial statements. ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures This ASU establishes new income tax disclosure requirements, along with adjusting certain existing requirements. It specifically requires expanded and disaggregated disclosures around the tax rate reconciliation. January 1, 2025 We are evaluating the impact of this ASU to our consolidated financial statements.

Investments

Investments	3 Months Ended
	Mar. 31, 2024
Investments [Abstract]
Investments	Investments Fixed Maturity AFS Securities The amortized cost, gross unrealized gains and losses, allowance for credit losses and fair value of fixed maturity available-for-sale (“AFS”) securities (in millions) were as follows: As of March 31, 2024 Amortized Cost Gross Unrealized Allowance for Credit Losses Fair Value Gains Losses Fixed maturity AFS securities: Corporate bonds $ 76,968 $ 640 $ 9,065 $ 10 $ 68,533 U.S. government bonds 422 4 35 – 391 State and municipal bonds 3,097 46 400 – 2,743 Foreign government bonds 304 12 53 – 263 RMBS 1,962 20 217 6 1,759 CMBS 1,658 4 178 – 1,484 ABS 12,903 71 621 4 12,349 Hybrid and redeemable preferred securities 232 23 12 1 242 Total fixed maturity AFS securities $ 97,546 $ 820 $ 10,581 $ 21 $ 87,764 As of December 31, 2023 Amortized Cost Gross Unrealized Allowance for Credit Losses Fair Value Gains Losses Fixed maturity AFS securities: Corporate bonds $ 77,085 $ 852 $ 8,272 $ 8 $ 69,657 U.S. government bonds 416 6 29 – 393 State and municipal bonds 3,106 101 417 – 2,790 Foreign government bonds 314 16 47 – 283 RMBS 1,948 28 197 6 1,773 CMBS 1,622 5 203 – 1,424 ABS 12,698 62 585 4 12,171 Hybrid and redeemable preferred securities 244 21 17 1 247 Total fixed maturity AFS securities $ 97,433 $ 1,091 $ 9,767 $ 19 $ 88,738 The amortized cost and fair value of fixed maturity AFS securities by contractual maturities (in millions) as of March 31, 2024, were as follows: Amortized Cost Fair Value Due in one year or less $ 4,615 $ 4,574 Due after one year through five years 17,551 16,871 Due after five years through ten years 14,424 13,180 Due after ten years 44,433 37,547 Subtotal 81,023 72,172 Structured securities (RMBS, CMBS, ABS) 16,523 15,592 Total fixed maturity AFS securities $ 97,546 $ 87,764 Actual maturities may differ from contractual maturities because issuers may have the right to call or pre-pay obligations. The fair value and gross unrealized losses of fixed maturity AFS securities (dollars in millions) for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows: As of March 31, 2024 Less Than or Equal Greater Than Twelve Months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (1) Fixed maturity AFS securities: Corporate bonds $ 23,895 $ 4,432 $ 33,636 $ 4,633 $ 57,531 $ 9,065 U.S. government bonds 102 9 188 26 290 35 State and municipal bonds 894 222 895 178 1,789 400 Foreign government bonds 107 30 66 23 173 53 RMBS 620 76 907 141 1,527 217 CMBS 677 70 621 108 1,298 178 ABS 1,998 91 6,118 530 8,116 621 Hybrid and redeemable preferred securities 18 3 102 9 120 12 Total fixed maturity AFS securities $ 28,311 $ 4,933 $ 42,533 $ 5,648 $ 70,844 $ 10,581 Total number of fixed maturity AFS securities in an unrealized loss position 7,485 As of December 31, 2023 Less Than or Equal Greater Than Twelve Months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (1) Fixed maturity AFS securities: Corporate bonds $ 14,005 $ 3,270 $ 34,595 $ 5,002 $ 48,600 $ 8,272 U.S. government bonds 65 6 195 23 260 29 State and municipal bonds 371 72 874 345 1,245 417 Foreign government bonds 111 31 57 16 168 47 RMBS 360 20 886 177 1,246 197 CMBS 583 56 589 147 1,172 203 ABS 1,900 68 7,217 517 9,117 585 Hybrid and redeemable preferred securities 32 3 95 14 127 17 Total fixed maturity AFS securities $ 17,427 $ 3,526 $ 44,508 $ 6,241 $ 61,935 $ 9,767 Total number of fixed maturity AFS securities in an unrealized loss position 7,605 (1) As of March 31, 2024, and December 31, 2023, we recognized $12 million and $8 million of gross unrealized losses, respectively, in other comprehensive income (loss) (“OCI”) for fixed maturity AFS securities for which an allowance for credit losses has been recorded. The fair value, gross unrealized losses (in millions) and number of fixed maturity AFS securities where the fair value had declined and remained below amortized cost by greater than 20% were as follows: As of March 31, 2024 Fair Value Gross Unrealized Losses Number of Securities (1) Less than six months $ 3,759 $ 1,318 697 Six months or greater, but less than nine months 423 158 131 Nine months or greater, but less than twelve months 275 86 68 Twelve months or greater 3,709 1,517 740 Total $ 8,166 $ 3,079 1,636 As of December 31, 2023 Fair Value Gross Unrealized Losses Number of Securities (1) Less than six months $ 2,492 $ 927 533 Six months or greater, but less than nine months 343 96 79 Nine months or greater, but less than twelve months 336 109 90 Twelve months or greater 4,094 2,922 997 Total $ 7,265 $ 4,054 1,699 (1) We may reflect a security in more than one aging category based on various purchase dates. Our gross unrealized losses on fixed maturity AFS securities increased by $814 million for the three months ended March 31, 2024. As discussed further below, we do not believe the unrealized loss position as of March 31, 2024, required an impairment recognized in earnings as: (i) we did not intend to sell these fixed maturity AFS securities; (ii) it is not more likely than not that we will be required to sell the fixed maturity AFS securities before recovery of their amortized cost basis; and (iii) the difference in the fair value compared to the amortized cost was due to factors other than credit loss. Based upon this evaluation as of March 31, 2024, management believes we have the ability to generate adequate amounts of cash from our normal operations (e.g., insurance premiums, fee income and investment income) to meet cash requirements with a prudent margin of safety without requiring the sale of our impaired securities. As of March 31, 2024, the unrealized losses associated with our corporate bond, U.S. government bond, state and municipal bond and foreign government bond securities were attributable primarily to rising interest rates and widening credit spreads since purchase. We performed a detailed analysis of the financial performance of the underlying issuers and determined that we expected to recover the entire amortized cost of each impaired security. Credit ratings express opinions about the credit quality of a security. Securities rated investment grade (those rated BBB- or higher by S&P Global Ratings (“S&P”) or Baa3 or higher by Moody’s Investors Service (“Moody’s”)) are generally considered by the rating agencies and market participants to be low credit risk. As of March 31, 2024, and December 31, 2023, 96% of the fair value of our corporate bond portfolio was rated investment grade. As of March 31, 2024, and December 31, 2023, the portion of our corporate bond portfolio rated below investment grade had an amortized cost of $2.8 billion and $3.0 billion, respectively, and a fair value of $2.7 billion and $2.8 billion, respectively. Based upon the analysis discussed above, we believe that as of March 31, 2024, and December 31, 2023, we would have recovered the amortized cost of each corporate bond. As of March 31, 2024, the unrealized losses associated with our mortgage-backed securities (“MBS”) and asset-backed securities (“ABS”) were attributable primarily to rising interest rates and widening credit spreads since purchase. We assessed for credit impairment using a cash flow model that incorporates key assumptions including default rates, severities and prepayment rates. We estimated losses for a security by forecasting the underlying loans in each transaction. The forecasted loan performance was used to project cash flows to the various tranches in the structure, as applicable. Our forecasted cash flows also considered, as applicable, independent industry analyst reports and forecasts and other independent market data. Based upon our assessment of the expected credit losses of the security given the performance of the underlying collateral compared to our subordination or other credit enhancement, we expected to recover the entire amortized cost of each impaired security. As of March 31, 2024, the unrealized losses associated with our hybrid and redeemable preferred securities were attributable primarily to wider credit spreads caused by illiquidity in the market and subordination within the capital structure, as well as credit risk of underlying issuers. For our hybrid and redeemable preferred securities, we evaluated the financial performance of the underlying issuers based upon credit performance and investment ratings and determined that we expected to recover the entire amortized cost of each impaired security. Credit Loss Impairment on Fixed Maturity AFS Securities We regularly review our fixed maturity AFS securities for declines in fair value that we determine to be impairment-related, including those attributable to credit risk factors that may require an allowance for credit losses. Changes in the allowance for credit losses on fixed maturity AFS securities (in millions), aggregated by investment category, were as follows: For the Three Months Ended March 31, 2024 Corporate Bonds RMBS Other Total Balance as of beginning-of-year $ 8 $ 6 $ 5 $ 19 Additions from purchases of PCD debt securities (1) – – – – Additions for securities for which credit losses were not previously recognized 1 – – 1 Additions (reductions) for securities for which credit losses were previously recognized 2 – – 2 Reductions for disposed securities (1) – – (1) Balance as of end-of-period (2) $ 10 $ 6 $ 5 $ 21 For the Three Months Ended March 31, 2023 Corporate Bonds RMBS Other Total Balance as of beginning-of-year $ 9 $ 7 $ 6 $ 22 Additions from purchases of PCD debt securities (1) – – – – Additions for securities for which credit losses were not previously recognized 19 – – 19 Additions (reductions) for securities for which credit losses were previously recognized – (1) – (1) Reductions for disposed securities (1) – – (1) Balance as of end-of-period (2) $ 27 $ 6 $ 6 $ 39 (1) Represents purchased credit-deteriorated (“PCD”) fixed maturity AFS securities. (2) As of March 31, 2024 and 2023, accrued investment income on fixed maturity AFS securities totaled $943 million and $1.1 billion, respectively, and was excluded from the estimate of credit losses. Mortgage Loans on Real Estate The following provides the current and past due composition of our mortgage loans on real estate (in millions): As of March 31, 2024 As of December 31, 2023 Commercial Residential Total Commercial Residential Total Current $ 17,372 $ 1,833 $ 19,205 $ 17,256 $ 1,665 $ 18,921 30 to 59 days past due 4 37 41 61 28 89 60 to 89 days past due 2 10 12 – 9 9 90 or more days past due 60 59 119 – 60 60 Allowance for credit losses (84) (31) (115) (86) (28) (114) Unamortized premium (discount) (7) 48 41 (7) 43 36 Mark-to-market gains (losses) (1) (38) 1 (37) (37) (1) (38) Total carrying value $ 17,309 $ 1,957 $ 19,266 $ 17,187 $ 1,776 $ 18,963 (1) Represents the mark-to-market on certain mortgage loans on real estate for which we have elected the fair value option. See Note Our commercial mortgage loan portfolio had the largest concentrations in California, which accounted for 26% and 27% of commercial mortgage loans on real estate as of March 31, 2024, and December 31, 2023, respectively, and Texas, which accounted for 10% and 9% of commercial mortgage loans on real estate as of March 31, 2024, and December 31, 2023, respectively. As of March 31, 2024, and December 31, 2023, our residential mortgage loan portfolio had the largest concentrations in California and New York, which accounted for 14% and 12% of residential mortgage loans on real estate, respectively. As of March 31, 2024, and December 31, 2023, we had 118 and 116 residential mortgage loans, respectively, that were either delinquent or in foreclosure. As of March 31, 2024, and December 31, 2023, we had 82 residential mortgage loans in foreclosure, with an aggregate carrying value of $35 million and $38 million, respectively. There were no losses from loan modifications for the three months ended March 31, 2024 and 2023, that were reported in realized gain (loss) on the Consolidated Statements of Comprehensive Income (Loss). The amortized cost of mortgage loans on real estate on nonaccrual status (in millions) was as follows: As of March 31, 2024 As of December 31, 2023 Nonaccrual Nonaccrual Nonaccrual Nonaccrual Commercial mortgage loans on real estate $ 60 $ – $ – $ – Residential mortgage loans on real estate – 61 – 62 Total $ 60 $ 61 $ – $ 62 We use loan-to-value and debt-service coverage ratios as credit quality indicators for our commercial mortgage loans on real estate. The amortized cost of commercial mortgage loans on real estate (dollars in millions) by year of origination and credit quality indicator was as follows: As of March 31, 2024 Less than 65% Debt-Service Coverage Ratio 65% to 75% Debt-Service Coverage Ratio Greater than 75% Debt-Service Coverage Ratio Total Origination Year 2024 $ 333 2.64 $ 18 1.31 $ – – $ 351 2023 1,373 1.90 50 1.35 – – 1,423 2022 1,735 2.05 104 1.59 5 1.33 1,844 2021 2,335 3.34 53 1.54 – – 2,388 2020 1,190 3.22 6 1.43 – – 1,196 2019 and prior 10,079 2.57 142 1.59 8 1.30 10,229 Total $ 17,045 $ 373 $ 13 $ 17,431 As of December 31, 2023 Less than 65% Debt-Service Coverage Ratio 65% to 75% Debt-Service Coverage Ratio Greater than 75% Debt-Service Coverage Ratio Total Origination Year 2023 $ 1,368 1.90 $ 54 1.38 $ – – $ 1,422 2022 1,710 2.06 140 1.54 – – 1,850 2021 2,335 3.34 61 1.55 – – 2,396 2020 1,214 3.24 11 1.38 – – 1,225 2019 2,446 2.40 80 1.56 10 2.33 2,536 2018 and prior 7,789 2.39 78 1.60 14 0.87 7,881 Total $ 16,862 $ 424 $ 24 $ 17,310 We use loan performance status as the primary credit quality indicator for our residential mortgage loans on real estate. The amortized cost of residential mortgage loans on real estate (in millions) by year of origination and credit quality indicator was as follows: As of March 31, 2024 Performing Nonperforming Total Origination Year 2024 $ 54 $ – $ 54 2023 665 5 670 2022 525 23 548 2021 459 16 475 2020 76 2 78 2019 and prior 147 15 162 Total $ 1,926 $ 61 $ 1,987 As of December 31, 2023 Performing Nonperforming Total Origination Year 2023 $ 515 $ 2 $ 517 2022 533 22 555 2021 465 18 483 2020 78 3 81 2019 99 13 112 2018 and prior 53 4 57 Total $ 1,743 $ 62 $ 1,805 Credit Losses on Mortgage Loans on Real Estate In connection with our recognition of an allowance for credit losses for mortgage loans on real estate, we perform a quantitative analysis using a probability of default/loss given default/exposure at default approach to estimate expected credit losses in our mortgage loan portfolio as well as unfunded commitments related to commercial mortgage loans, exclusive of certain mortgage loans held at fair value. Changes in the allowance for credit losses on mortgage loans on real estate (in millions) were as follows: For the Three Months Ended Commercial Residential Total Balance as of beginning-of-year $ 86 $ 28 $ 114 Additions (reductions) from provision for credit loss expense (1) (2) 3 1 Additions from purchases of PCD mortgage loans on real estate – – – Balance as of end-of-period (2) $ 84 $ 31 $ 115 For the Three Months Ended Commercial Residential Total Balance as of beginning-of-year $ 84 $ 15 $ 99 Additions (reductions) from provision for credit loss expense (1) (1) 5 4 Additions from purchases of PCD mortgage loans on real estate – – – Balance as of end-of-period (2) $ 83 $ 20 $ 103 (1) We recognized $1 million of credit loss benefit (expense) related to unfunded commitments for mortgage loans on real estate for the three months ended March 31, 2024. We did not recognize any credit loss benefit (expense) related to unfunded commitments for mortgage loans on real estate for the three months ended March 31, 2023. (2) Accrued investment income on mortgage loans on real estate totaled $69 million and $52 million as of March 31, 2024 and 2023, respectively, and was excluded from the estimate of credit losses. Alternative Investments As of March 31, 2024, and December 31, 2023, alternative investments included investments in 358 and 352 different partnerships, respectively, and represented approximately 3% of total investments. Impairments on Fixed Maturity AFS Securities Details underlying credit loss benefit (expense) incurred as a result of impairments that were recognized in net income (loss) and included in realized gain (loss) on fixed maturity AFS securities (in millions) were as follows: For the Three 2024 2023 Credit Loss Benefit (Expense) Fixed maturity AFS securities: Corporate bonds $ (2) $ (18) RMBS – 1 Total credit loss benefit (expense) $ (2) $ (17) Payables for Collateral on Investments The carrying value of the payables for collateral on investments included on the Consolidated Balance Sheets and the fair value of the related investments or collateral (in millions) consisted of the following: As of March 31, 2024 As of December 31, 2023 Carrying Value Fair Value Carrying Value Fair Value Collateral payable for derivative investments (1) $ 6,934 $ 6,934 $ 5,250 $ 5,250 Securities pledged under securities lending agreements (2) 283 274 205 197 Investments pledged for FHLBI (3) 2,900 4,032 2,650 3,603 Total payables for collateral on investments $ 10,117 $ 11,240 $ 8,105 $ 9,050 (1) We obtain collateral based upon contractual provisions with our counterparties. These agreements take into consideration the counterparties’ credit rating as compared to ours, the fair value of the derivative investments and specified thresholds that if exceeded result in the receipt of cash that is typically invested in cash and invested cash or fixed maturity AFS securities. This also includes interest payable on collateral. See Note 5 (2) Our pledged securities under securities lending agreements are included in fixed maturity AFS securities on the Consolidated Balance Sheets. We generally obtain collateral in an amount equal to 102% and 105% of the fair value of the domestic and foreign securities, respectively. We value collateral daily and obtain additional collateral when deemed appropriate. The cash received in our securities lending program is typically invested in cash and invested cash or fixed maturity AFS securities. (3) Our pledged investments for Federal Home Loan Bank (“FHLB”) of Indianapolis (“FHLBI”) are included in fixed maturity AFS securities and mortgage loans on real estate on the Consolidated Balance Sheets. The collateral requirements are generally 105% to 115% of the fair value for fixed maturity AFS securities and 155% to 175% of the fair value for mortgage loans on real estate. The cash received in these transactions is primarily invested in cash and invested cash or fixed maturity AFS securities. We have repurchase agreements through which we can obtain liquidity by pledging securities. The collateral requirements are generally 80% to 95% of the fair value of the securities, and our agreements with third parties contain contractual provisions to allow for additional collateral to be obtained when necessary. The cash received in our repurchase program is typically invested in fixed maturity AFS securities. As of March 31, 2024, and December 31, 2023, we were not participating in any open repurchase agreements. Increase (decrease) in payables for collateral on investments (in millions) consisted of the following: For the Three 2024 2023 Collateral payable for derivative investments $ 1,684 $ 268 Securities pledged under securities lending agreements 78 (2) Investments pledged for FHLBI 250 (175) Total increase (decrease) in payables for collateral on investments $ 2,012 $ 91 We have elected not to offset our securities lending transactions in the consolidated financial statements. The remaining contractual maturities of securities lending transactions accounted for as secured borrowings (in millions) were as follows: As of March 31, 2024 Overnight and Continuous Up to 30 Days 30-90 Days Greater Than 90 Days Total Securities Lending Corporate bonds $ 276 $ – $ – $ – $ 276 Foreign government bonds 1 – – – 1 Equity securities 6 – – – 6 Total gross secured borrowings $ 283 $ – $ – $ – $ 283 As of December 31, 2023 Overnight and Continuous Up to 30 Days 30-90 Days Greater Than 90 Days Total Securities Lending Corporate bonds $ 202 $ – $ – $ – $ 202 Equity securities 3 – – – 3 Total gross secured borrowings $ 205 $ – $ – $ – $ 205 We accept collateral in the form of securities in connection with repurchase agreements. In instances where we are permitted to sell or re-pledge the securities received, we report the fair value of the collateral received and a related obligation to return the collateral in the consolidated financial statements. In addition, we receive securities in connection with securities borrowing agreements that we are permitted to sell or re-pledge. As of March 31, 2024, the fair value of this collateral received that we are permitted to sell or re-pledge was $25 million, and we had not re-pledged any of this collateral to cover our collateral requirements. We also accept collateral from derivative counterparties in the form of securities that we are permitted to sell or re-pledge. As of March 31, 2024, the fair value of this collateral received that we are permitted to sell or re-pledge was $1.7 billion, and we had re-pledged $527 million of this collateral to cover our collateral requirements. We have also pledged fixed maturity AFS securities to derivative counterparties with a fair value of $52 million as of March 31, 2024. Investment Commitments As of March 31, 2024, our investment commitments were $3.8 billion, which included $2.9 billion of limited partnerships (“LPs”), $748 million of mortgage loans on real estate and $199 million of private placement securities. Concentrations of Financial Instruments As of March 31, 2024, and December 31, 2023, our most significant investments in one issuer were our investments in securities issued by the Federal National Mortgage Association with a fair value of $741 million and $739 million, respectively, or 1% of total investments, and our investments in securities issued by the Federal Home Loan Mortgage Corporation with a fair value of $567 million and $570 million, respectively, or 1% of total investments. These concentrations include fixed maturity AFS, trading and equity securities.

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2024
Variable Interest Entities [Abstract]
Variable Interest Entities	Variable Interest Entities Consolidated VIEs Asset information (dollars in millions) for the consolidated variable interest entities (“VIEs”) included on the Consolidated Balance Sheets was as follows: As of March 31, 2024 As of December 31, 2023 Number of Instruments Notional Amounts Carrying Value Number of Instruments Notional Amounts Carrying Value Assets Total return swap 1 $ 529 $ – 1 $ 544 $ – There were no gains or losses for consolidated VIEs recognized on the Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2024 and 2023. Unconsolidated VIEs Structured Securities Through our investment activities, we make passive investments in structured securities issued by VIEs for which we are not the manager. These structured securities include our ABS, residential mortgage-backed securities (“RMBS”) and commercial mortgage-backed securities (“CMBS”). We have not provided financial or other support with respect to these VIEs other than our original investment. We have determined that we are not the primary beneficiary of these VIEs due to the relative size of our investment in comparison to the principal amount of the structured securities issued by the VIEs and the level of credit subordination that reduces our obligation to absorb losses or right to receive benefits. Our maximum exposure to loss on these structured securities is limited to the amortized cost for these investments. We recognize our variable interest in these VIEs at fair value on the Consolidated Balance Sheets. For information about these structured securities, see Note 3 Limited Partnerships and Limited Liability Companies We invest in certain LPs and

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments We maintain an overall risk management strategy that incorporates the use of derivative instruments to minimize significant unplanned fluctuations in earnings that are caused by interest rate risk, foreign currency exchange risk, equity market risk, basis risk, commodity risk and credit risk. We assess these risks by continually identifying and monitoring changes in our exposures that may adversely affect expected future cash flows and by evaluating hedging opportunities. Derivative activities are monitored by various management committees. The committees are responsible for overseeing the implementation of various hedging strategies that are developed through the analysis of financial simulation models and other internal and industry sources. The resulting hedging strategies are incorporated into our overall risk management strategies. See Note Interest Rate Contracts We use derivative instruments as part of our interest rate risk management strategy. These instruments are economic hedges unless otherwise noted and include: Forward-Starting Interest Rate Swaps We use forward-starting interest rate swaps to hedge the interest rate exposure within our annuity and life insurance products. Interest Rate Cap Corridors We use interest rate cap corridors to provide a level of protection from the effect of rising interest rates for certain annuity contracts and life insurance products. Interest rate cap corridors involve purchasing an interest rate cap at a specific cap rate and selling an interest rate cap with a higher cap rate. For each corridor, the amount of quarterly payments, if any, is determined by the rate at which the underlying index rate resets above the original capped rate. The corridor limits the benefit the purchaser can receive as the related interest rate index rises above the higher capped rate. There is no additional liability to us other than the purchase price associated with the interest rate cap corridor. Interest Rate Futures We use interest rate futures contracts to hedge the liability exposure on certain options in variable annuity products. These futures contracts require payment between our counterparty and us on a daily basis for changes in the futures index price. Interest Rate Swap Agreements We use interest rate swap agreements to hedge the liability exposure on certain options in variable annuity products. We also use interest rate swap agreements designated and qualifying as cash flow hedges to hedge the interest rate risk of floating-rate bond coupon payments by replicating a fixed-rate bond. Finally, we use interest rate swap agreements designated and qualifying as fair value hedges to hedge against changes in the fair value of certain fixed-rate long-term debt and fixed maturity securities due to interest rate risks. Bond Forwards and Treasury and Reverse Treasury Locks We use treasury locks designated and qualifying as cash flow hedges to hedge the interest rate exposure related to our issuance of fixed-rate securities or the anticipated future cash flows of floating-rate fixed maturity securities due to changes in interest rates. In addition, we use bond forwards and reverse treasury locks designated and qualifying as cash flow hedges to hedge the interest rate exposure related to the anticipated purchase of fixed-rate securities or the anticipated future cash flows of floating-rate fixed maturity securities due to changes in interest rates. These derivatives are primarily structured to hedge interest rate risk inherent in the assumptions used to price certain liabilities. Foreign Currency Contracts We use derivative instruments as part of our foreign currency risk management strategy. These instruments are economic hedges unless otherwise noted and include: Currency Futures We use currency futures to hedge foreign exchange risk associated with certain options in variable annuity products. Currency futures exchange one currency for another at a specified date in the future at a specified exchange rate. Foreign Currency Swaps We use foreign currency swaps to hedge foreign exchange risk of investments in fixed maturity securities denominated in foreign currencies. A foreign currency swap is a contractual agreement to exchange one currency for another at specified dates in the future at a specified exchange rate. We also use foreign currency swaps designated and qualifying as cash flow hedges to hedge foreign exchange risk of investments in fixed maturity securities denominated in foreign currencies. Foreign Currency Forwards We use foreign currency forwards to hedge foreign exchange risk of investments in fixed maturity securities denominated in foreign currencies. A foreign currency forward is a contractual agreement to exchange one currency for another at specified dates in the future at a specified current exchange rate. Equity Market Contracts We use derivative instruments as part of our equity market risk management strategy that are economic hedges and include: Call Options Based on the S&P 500 ® Index and Other Indices We use call options to hedge the liability exposure on certain options in variable annuity, RILA, fixed indexed annuity, IUL and VUL products. Our RILA, fixed indexed annuity and IUL contracts permit the holder to elect an interest rate return or an equity market component, where interest credited to the contracts is linked to the performance of the S&P 500 Index or other indices. Policyholders may elect to rebalance index options at renewal dates. At the end of each indexed term, which can be up to six years, we have the opportunity to re-price the indexed component by establishing participation rates, caps, spreads and specified rates, subject to contractual guarantees. We use call options that are highly correlated to the portfolio allocation decisions of our policyholders, such that we are economically hedged with respect to equity returns for the current reset period. Consumer Price Index Swaps We use consumer price index swaps to hedge the liability exposure on certain options in fixed annuity products. Consumer price index swaps are contracts entered into at no cost and whose payoff is the difference between the consumer price index inflation rate and the fixed-rate determined as of inception. Equity Futures We use equity futures contracts to hedge the liability exposure on certain options in variable annuity products. These futures contracts require payment between our counterparty and us on a daily basis for changes in the futures index price. Put Options We use put options to hedge the liability exposure on certain options in variable annuity, RILA and VUL products. Put options are contracts that require the buyers to pay at a specified future date the amount, if any, by which a specified equity index is less than the strike rate stated in the agreement, applied to a notional amount. Total Return Swaps We use total return swaps to hedge the liability exposure on certain options in variable annuity, RILA and VUL products. In addition, we use total return swaps to hedge a portion of the liability related to our deferred compensation plans. We receive the total return on a portfolio of indexes and pay a floating-rate of interest. Commodity Contracts We use commodity contracts to economically hedge certain investments that are closely tied to the changes in commodity values. The commodity contract is an over-the-counter contract that combines a purchase put/sold call to lock in a commodity price within a predetermined range in exchange for a net premium. Credit Contracts We use derivative instruments as part of our credit risk management strategy that are economic hedges and include: Credit Default Swaps – Buying Protection We use credit default swaps (“CDSs”) to hedge the liability exposure on certain options in variable annuity products. We buy CDSs to hedge against a drop in bond prices due to credit concerns of certain bond issuers. A CDS allows us to put the bond back to the counterparty at par upon a default event by the bond issuer. A default event is defined as bankruptcy, failure to pay, obligation acceleration or restructuring. CDSs – Selling Protection We use CDSs to hedge the liability exposure on certain options in variable annuity products. We sell CDSs to offer credit protection to policyholders and investors. The CDSs hedge the policyholders and investors against a drop in bond prices due to credit concerns of certain bond issuers. A CDS allows the investor to put the bond back to us at par upon a default event by the bond issuer. A default event is defined as bankruptcy, failure to pay, obligation acceleration or restructuring. Embedded Derivatives We have embedded derivatives that include: RILA, Fixed Indexed Annuity and IUL Contracts Embedded Derivatives Our RILA, fixed indexed annuity and IUL contracts permit the holder to elect an interest rate return or an equity market component, where interest credited to the contracts is linked to the performance of the S&P 500® Index or other indices. Policyholders may elect to rebalance index options at renewal dates. At the end of each indexed term, which can be up to six years, we have the opportunity to re-price the indexed component by establishing participation rates, caps, spreads and specified rates, subject to contractual guarantees. We use options that are highly correlated to the portfolio allocation decisions of our policyholders, such that we are economically hedged with respect to equity returns for the current reset period. Reinsurance-Related Embedded Derivatives We have certain modified coinsurance and coinsurance with funds withheld reinsurance agreements with embedded derivatives related to the withheld assets of the related funds. These derivatives are considered total return swaps with contractual returns that are attributable to various assets and liabilities associated with these reinsurance agreements. Primary Risks Managed by Derivatives We have derivative instruments with off-balance-sheet risks whose notional or contract amounts exceed the related credit exposure. Outstanding derivative instruments with off-balance-sheet risks (in millions) were as follows: As of March 31, 2024 As of December 31, 2023 Notional Amounts Fair Value Notional Amounts Fair Value Asset Liability Asset Liability Qualifying Hedges Cash flow hedges: Interest rate contracts (1) $ 1,583 $ 242 $ 28 $ 1,698 $ 181 $ 47 Foreign currency contracts (1) 4,722 467 60 4,662 423 78 Total cash flow hedges 6,305 709 88 6,360 604 125 Fair value hedges: Interest rate contracts (1) 1,076 2 32 1,081 1 39 Foreign currency contracts (1) 25 – – 25 – 1 Total fair value hedges 1,101 2 32 1,106 1 40 Non-Qualifying Hedges Interest rate contracts (1) 72,592 771 1,027 90,829 636 979 Foreign currency contracts (1) 370 13 3 306 11 6 Equity market contracts (1) 231,313 13,816 5,953 225,626 10,244 4,227 Credit contracts (1) 39 – – 91 – – Embedded derivatives: Reinsurance-related (2) – – 355 – – 552 RILA, fixed indexed annuity and IUL contracts (3) – 973 10,896 – 940 9,077 Total derivative instruments $ 311,720 $ 16,284 $ 18,354 $ 324,318 $ 12,436 $ 15,006 (1) These asset and liability balances are presented on a gross basis. Amounts are reported in derivative investments and other liabilities on the Consolidated Balance Sheets after the evaluation for right of offset subject to master netting agreements. (2) Reported in funds withheld reinsurance liabilities on the Consolidated Balance Sheets. (3) Reported in policyholder account balances and deposit assets on the Consolidated Balance Sheets. The maturity of the notional amounts of derivative instruments (in millions) was as follows: Remaining Life as of March 31, 2024 Less Than 1 – 5 6 - 10 11 - 30 Over 30 Total Interest rate contracts (1) $ 9,795 $ 19,247 $ 22,649 $ 22,347 $ 1,213 $ 75,251 Foreign currency contracts (2) 356 1,007 1,725 1,987 42 5,117 Equity market contracts 186,027 34,228 7,262 8 3,788 231,313 Credit contracts – 39 – – – 39 Total derivative instruments with notional amounts $ 196,178 $ 54,521 $ 31,636 $ 24,342 $ 5,043 $ 311,720 (1) As of March 31, 2024, the latest maturity date for which we were hedging our exposure to the variability in future cash flows for these instruments was April 20, 2067. (2) As of March 31, 2024, the latest maturity date for which we were hedging our exposure to the variability in future cash flows for these instruments was June 16, 2061. The following amounts (in millions) were recorded on the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges: Amortized Cost of the Hedged Assets / (Liabilities) Cumulative Fair Value Hedging Adjustment Included in the Amortized Cost of the Hedged Assets / (Liabilities) As of As of December 31, 2023 As of As of December 31, 2023 Line Item in the Consolidated Balance Sheets in which the Hedged Item is Included Fixed maturity AFS securities, at fair value $ 510 $ 534 $ 21 $ 39 Long-term debt (1) (686) (703) 189 172 (1) Includes $(322) million and $(326) million of unamortized adjustments from discontinued hedges as of March 31, 2024, and December 31, 2023, respectively. The change in our unrealized gain (loss) on derivative instruments within accumulated other comprehensive income (loss) (“AOCI”) (in millions) was as follows: For the Three 2024 2023 Unrealized Gain (Loss) on Derivative Instruments Balance as of beginning-of-year $ 375 $ 388 Other comprehensive income (loss): Unrealized holding gains (losses) arising during the period: Cash flow hedges: Interest rate contracts 89 58 Foreign currency contracts (25) 76 Change in foreign currency exchange rate adjustment 101 (67) Income tax benefit (expense) (35) (15) Less: Reclassification adjustment for gains (losses) included in net income (loss): Cash flow hedges: Foreign currency contracts (1) 15 14 Interest rate contracts (2) 9 6 Foreign currency contracts (3) – 2 Income tax benefit (expense) (5) (5) Balance as of end-of-period $ 486 $ 423 (1) The OCI offset is reported within net investment income on the Consolidated Statements of Comprehensive Income (Loss). (2) The OCI offset is reported within interest and debt expense on the Consolidated Statements of Comprehensive Income (Loss). (3) The OCI offset is reported within realized gain (loss) on the Consolidated Statements of Comprehensive Income (Loss). The effects of qualifying and non-qualifying hedges (in millions) on the Consolidated Statements of Comprehensive Income (Loss) were as follows: Gain (Loss) Recognized in Income 2024 2023 Realized Gain (Loss) Net Investment Income Interest and Debt Expense Realized Gain (Loss) Net Investment Income Interest and Debt Expense Total Line Items in which the Effects of Fair Value or Cash Flow Hedges are Recorded $ (434) $ 1,346 $ 81 $ (828) $ 1,466 $ 83 Qualifying Hedges Gain or (loss) on fair value hedging relationships: Interest rate contracts: Hedged items – (18) 17 – 16 (21) Derivatives designated as hedging instruments – 18 (17) – (16) 21 Foreign currency contracts: Hedged items – (1) – – – – Derivatives designated as hedging instruments – 1 – – – – Gain or (loss) on cash flow hedging relationships: Interest rate contracts: Amount of gain or (loss) reclassified from AOCI into income – – 9 – – 6 Foreign currency contracts: Amount of gain or (loss) reclassified from AOCI into income – 15 – 2 14 – Non-Qualifying Hedges Interest rate contracts (163) – – 332 – – Foreign currency contracts – – – (1) – – Equity market contracts 2,134 – – (53) – – Commodity contracts – – – 11 – – Credit contracts – – – (1) – – Embedded derivatives: Reinsurance-related 197 – – (49) – – RILA, fixed indexed annuity and IUL contracts (1,642) – – (713) – – As of March 31, 2024, $99 million of the deferred net gains (losses) on derivative instruments in AOCI were expected to be reclassified to earnings during the next 12 months. This reclassification would be due primarily to interest rate variances related to our interest rate swap agreements. For the three months ended March 31, 2024 and 2023, there were no material reclassifications to earnings due to hedged firm commitments no longer deemed probable or due to hedged forecasted transactions that had not occurred by the end of the originally specified time period. Information related to our CDSs for which we are the seller (dollars in millions) was as follows: As of March 31, 2024 Credit Contract Type Maturity Reason for Entering Name of Recourse Credit Rating of Underlying Obligation (1) Number of Instruments Fair Value (2) Maximum Potential Payout Basket CDSs 12/20/2028 (3) (4) BBB+ 1 $ 1 $ 39 (1) Represents average credit ratings based on the midpoint of the applicable ratings among Moody’s, S&P and Fitch Ratings, as scaled to the corresponding S&P ratings. (2) Third-party valuation specialists are used to determine the market value of our CDSs. (3) CDSs were entered into in order to hedge the liability exposure on certain variable annuity products. (4) Sellers do not have the right to demand indemnification or compensation from third parties in case of a loss (payment) on the contract. As of December 31, 2023, we did not have any exposure related to CDSs for which we are the seller. Details underlying the associated collateral of our CDSs for which we are the seller if credit risk-related contingent features were triggered (in millions) were as follows: As of As of December 31, 2023 Maximum potential payout $ 39 $ – Less: Counterparty thresholds – – Maximum collateral potentially required to post $ 39 $ – Certain of our CDS agreements contain contractual provisions that allow for the netting of collateral with our counterparties related to all of our collateralized financing transactions that we have outstanding. If these netting agreements were not in place, our counterparties would have been required to post $1 million of collateral as of March 31, 2024. Credit Risk We are exposed to credit losses in the event of non-performance by our counterparties on various derivative contracts and reflect assumptions regarding the credit or non-performance risk. The non-performance risk is based upon assumptions for each counterparty’s credit spread over the estimated weighted average life of the counterparty exposure, less collateral held. As of March 31, 2024, the non-performance risk adjustment was zero. The credit risk associated with such agreements is minimized by entering into agreements with financial institutions with long-standing, superior performance records. Additionally, we maintain a policy of requiring derivative contracts to be governed by an International Swaps and Derivatives Association (“ISDA”) Master Agreement. We are required to maintain minimum ratings as a matter of routine practice in negotiating ISDA agreements. Under nearly all ISDA agreements, our insurance subsidiaries have agreed to maintain certain financial strength ratings. A downgrade below these levels could result in termination of derivative contracts, at which time any amounts payable by us would be dependent on the market value of the underlying derivative contracts. In certain transactions, we and the counterparty have entered into a credit support annex requiring either party to post collateral when net exposures exceed pre-determined thresholds. These thresholds vary by counterparty and credit rating. The amount of such exposure is essentially the net replacement cost or market value less collateral held for such agreements with each counterparty if the net market value is in our favor. We did not have any exposure as of March 31, 2024, or December 31, 2023. The amounts recognized (in millions) by S&P credit rating of counterparty, for which we had the right to reclaim cash collateral or were obligated to return cash collateral, were as follows: As of March 31, 2024 As of December 31, 2023 S&P Collateral Collateral Collateral Collateral AA- $ 3,403 $ (71) $ 2,378 $ (63) A+ 2,929 (43) 2,496 (125) A 90 – 82 – A- 481 – 273 – $ 6,903 $ (114) $ 5,229 $ (188) Balance Sheet Offsetting Information related to the effects of offsetting on the Consolidated Balance Sheets (in millions) was as follows: As of March 31, 2024 Derivative Instruments Embedded Derivative Instruments Total Financial Assets Gross amount of recognized assets $ 15,250 $ 973 $ 16,223 Gross amounts offset (6,856) – (6,856) Net amount of assets 8,394 973 9,367 Gross amounts not offset: Cash collateral (6,903) – (6,903) Non-cash collateral (1) (1,491) – (1,491) Net amount $ – $ 973 $ 973 Financial Liabilities Gross amount of recognized liabilities $ 273 $ 11,251 $ 11,524 Gross amounts offset (87) – (87) Net amount of liabilities 186 11,251 11,437 Gross amounts not offset: Cash collateral (114) – (114) Non-cash collateral (2) (72) – (72) Net amount $ – $ 11,251 $ 11,251 (1) Excludes excess non-cash collateral received of $1.4 billion, as the collateral offset is limited to the net estimated fair value of derivatives after application of netting arrangements. (2) Excludes excess non-cash collateral pledged of $89 million, as the collateral offset is limited to the net estimated fair value of derivatives after application of netting arrangements. As of December 31, 2023 Derivative Embedded Total Financial Assets Gross amount of recognized assets $ 10,927 $ 940 $ 11,867 Gross amounts offset (4,453) – (4,453) Net amount of assets 6,474 940 7,414 Gross amounts not offset: Cash collateral (5,229) – (5,229) Non-cash collateral (1) (1,245) – (1,245) Net amount $ – $ 940 $ 940 Financial Liabilities Gross amount of recognized liabilities $ 967 $ 9,629 $ 10,596 Gross amounts offset (612) – (612) Net amount of liabilities 355 9,629 9,984 Gross amounts not offset: Cash collateral (188) – (188) Non-cash collateral (2) (167) – (167) Net amount $ – $ 9,629 $ 9,629 (1) Excludes excess non-cash collateral received of $1.3 billion, as the collateral offset is limited to the net estimated fair value of derivatives after application of netting arrangements. (2) Excludes excess non-cash collateral pledged of $82 million, as the collateral offset is limited to the net estimated fair value of derivatives after application of netting arrangements.

DAC, VOBA, DSI and DFEL

DAC, VOBA, DSI and DFEL	3 Months Ended
	Mar. 31, 2024
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]
DAC, VOBA, DSI and DFEL	DAC, VOBA, DSI and DFEL The following table reconciles deferred acquisition costs (“DAC”), value of business acquired (“VOBA”) and deferred sales inducements (“DSI”) (in millions) to the Consolidated Balance Sheets: As of As of 2024 2023 DAC, VOBA and DSI Variable Annuities $ 3,871 $ 3,873 Fixed Annuities 447 455 Traditional Life 1,411 1,418 UL and Other 6,246 6,232 Group Protection 157 154 Retirement Plan Services 273 265 Total DAC, VOBA and DSI $ 12,405 $ 12,397 The following table reconciles deferred front-end loads (“DFEL”) (in millions) to the Consolidated Balance Sheets: As of As of 2024 2023 DFEL Variable Annuities $ 277 $ 278 UL and Other (1) 5,778 5,579 Other Operations (2) 44 44 Total DFEL $ 6,099 $ 5,901 (1) We reported $258 million and $257 million of ceded DFEL in reinsurance recoverables on the Consolidated Balance Sheets as of March 31, 2024, and December 31, 2023, respectively. (2) Represents DFEL reported in Other Operations attributable to the indemnity reinsurance agreement with Protective that is excluded from the following tables. We reported $44 million of ceded DFEL in reinsurance recoverables on the Consolidated Balance Sheets as of March 31, 2024, and December 31, 2023. The following tables summarize the changes in DAC (in millions): For the Three Months Ended March 31, 2024 Variable Fixed Traditional UL and Group Protection Retirement Balance as of beginning-of-year $ 3,751 $ 421 $ 1,376 $ 5,791 $ 154 $ 239 Deferrals 89 9 32 100 29 5 Amortization (89) (16) (37) (76) (26) (5) Balance as of end-of-period $ 3,751 $ 414 $ 1,371 $ 5,815 $ 157 $ 239 For the Three Months Ended March 31, 2023 Variable Fixed Traditional UL and Group Protection Retirement Balance as of beginning-of-year $ 3,751 $ 439 $ 1,333 $ 5,605 $ 141 $ 236 Deferrals 84 14 55 118 25 6 Amortization (90) (17) (36) (73) (24) (5) Balance as of end-of-period $ 3,745 $ 436 $ 1,352 $ 5,650 $ 142 $ 237 DAC amortization expense of $249 million and $245 million was recorded in commissions and other expenses on the Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2024 and 2023, respectively. The following tables summarize the changes in VOBA (in millions): For the Three Months Ended Fixed Traditional UL and Balance as of beginning-of-year $ 15 $ 42 $ 413 Amortization (1) (2) (10) Balance as of end-of-period $ 14 $ 40 $ 403 For the Three Months Ended Fixed Traditional UL and Balance as of beginning-of-year $ 17 $ 50 $ 465 Deferrals 1 – – Amortization (1) (2) (11) Balance as of end-of-period $ 17 $ 48 $ 454 VOBA amortization expense of $13 million and $14 million was recorded in commissions and other expenses on the Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2024 and 2023, respectively. No additions or write-offs were recorded for each respective period. The following tables summarize the changes in DSI (in millions): For the Three Months Ended Variable Fixed UL and Retirement Balance as of beginning-of-year $ 122 $ 19 $ 28 $ 26 Deferrals 1 – – 8 Amortization (3) – – – Balance as of end-of-period $ 120 $ 19 $ 28 $ 34 For the Three Months Ended Variable Fixed UL and Retirement Balance as of beginning-of-year $ 128 $ 23 $ 30 $ 17 Deferrals 1 – – 2 Amortization (4) (1) (1) 1 Balance as of end-of-period $ 125 $ 22 $ 29 $ 20 DSI amortization expense of $3 million and $5 million was recorded in interest credited on the Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2024 and 2023, respectively. The following tables summarize the changes in DFEL (in millions): For the Three Months Ended For the Three Months Ended Variable UL and Variable UL and Balance as of beginning-of-year $ 278 $ 5,579 $ 286 $ 4,766 Deferrals 5 267 5 261 Amortization (6) (68) (7) (61) Balance as of end-of-period 277 5,778 284 4,966 Less: ceded DFEL – 258 – – Balance as of end-of-period, net of reinsurance $ 277 $ 5,520 $ 284 $ 4,966 DFEL amortization of $74 million and $68 million was recorded in fee income on the Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2024 and 2023, respectively.

Reinsurance

Reinsurance	3 Months Ended
	Mar. 31, 2024
Reinsurance Disclosures [Abstract]
Reinsurance	Reinsurance Fortitude Re Effective October 1, 2023, we entered into two reinsurance agreements with Fortitude Reinsurance Company Ltd. (“Fortitude Re”), an authorized Bermuda reinsurer with reciprocal jurisdiction reinsurer status in Indiana, to reinsure certain blocks of in-force UL with secondary guarantees (“ULSG”), MoneyGuard ® and fixed annuity products, including group pension annuities. Fortitude Re represents our largest reinsurance exposure as of March 31, 2024, and December 31, 2023. The first agreement was structured as a coinsurance treaty between us and Fortitude Re for the ULSG and fixed annuities blocks. As significant insurance risk was transferred for ULSG products and life-contingent annuities, amounts recoverable from Fortitude Re were $10.5 billion as of March 31, 2024, and December 31, 2023. We reported a deferred loss on the transaction of $2.7 billion as of March 31, 2024, and December 31, 2023. We amortized $22 million of the deferred loss during the three months ended March 31, 2024. Annuities that are not life-contingent do not contain significant insurance risk; therefore, we reported deposit assets for these contracts of $3.9 billion and $4.2 billion as of March 31, 2024, and December 31, 2023, respectively. The second agreement was structured as coinsurance with funds withheld for the MoneyGuard block; however, as we retained significant insurance risk under the agreement, we reported deposit assets of $7.8 billion as of March 31, 2024, and December 31, 2023. In this coinsurance with funds withheld reinsurance agreement, we as the ceding company withhold, and therefore retain, the assets backing the deposit assets. We held investments with a carrying value of $9.8 billion and $9.9 billion in support of reserves associated with the Fortitude Re transaction in a funds withheld arrangement as of March 31, 2024, and December 31, 2023, respectively, which consisted of the following (in millions): As of As of 2024 2023 Fixed maturity AFS securities $ 8,651 $ 8,867 Other investments 1,002 759 Cash and invested cash 34 141 Accrued investment income 107 103 Other assets 5 1 Total $ 9,799 $ 9,871

MRBs

MRBs	3 Months Ended
	Mar. 31, 2024
Insurance [Abstract]
MRBs	MRBs The following table reconciles market risk benefits (“MRBs”) (in millions) to MRB assets and MRB liabilities on the Consolidated Balance Sheets: As of March 31, 2024 As of December 31, 2023 Assets Liabilities Net (Assets) Liabilities Assets Liabilities Net (Assets) Liabilities Variable Annuities $ 4,743 $ 1,139 $ (3,604) $ 3,763 $ 1,583 $ (2,180) Fixed Annuities 96 123 27 96 128 32 Retirement Plan Services 39 4 (35) 35 5 (30) Total MRBs $ 4,878 $ 1,266 $ (3,612) $ 3,894 $ 1,716 $ (2,178) The following table summarizes the balances of and changes in net MRB (assets) liabilities (in millions): As of or For the Three As of or For the Three Variable Annuities Fixed Annuities Retirement Plan Services Variable Annuities Fixed Annuities Retirement Plan Services Balance as of beginning-of-year $ (2,180) $ 32 $ (30) $ (662) $ (45) $ (22) Less: Effect of cumulative changes in non-performance risk (1,299) (58) (4) (2,173) (40) (2) Balance as of beginning-of-year, before the effect of changes in non-performance risk (881) 90 (26) 1,511 (5) (20) Issuances 3 – – 1 – – Attributed fees collected 380 9 2 379 9 2 Benefit payments (11) – – (19) – – Effect of changes in interest rates (1,081) (17) (6) 1,406 31 5 Effect of changes in equity markets (1,343) (11) (4) (1,029) (2) (6) Effect of changes in equity index volatility 4 (2) – (286) – (2) In-force updates and other changes in MRBs (1) 51 1 1 76 1 – Balance as of end-of-period, before the effect of changes in non-performance risk (2,878) 70 (33) 2,039 34 (21) Effect of cumulative changes in non-performance risk (726) (43) (2) (3,451) (65) (5) Balance as of end-of-period (3,604) 27 (35) (1,412) (31) (26) Less: ceded MRB assets (liabilities) (358) – – (246) – – Balance as of end-of-period, net of reinsurance $ (3,246) $ 27 $ (35) $ (1,166) $ (31) $ (26) Weighted-average age of policyholders (years) 72 69 63 71 68 63 Net amount at risk (2) $ 2,056 $ 210 $ 3 $ 6,268 $ 192 $ 9 (1) Consists primarily of changes in MRB assets and liabilities related to differences between separate account fund performance and modeled indices and other changes such as actual to expected policyholder behavior. (2) Net amount at risk (“NAR”) is the current guaranteed minimum benefit in excess of the current account balance as of the balance sheet date. For guaranteed living benefits (“GLBs”), the guaranteed minimum benefit is calculated based on the present value of GLB payments. Our variable annuity products may offer more than one type of guaranteed benefit rider to a policyholder. In instances where more than one guaranteed benefit feature exists in a contract, the guaranteed benefit rider that provides the highest NAR is used in the calculation. See “MRBs” in Note

Separate Accounts

Separate Accounts	3 Months Ended
	Mar. 31, 2024
Separate Accounts Disclosure [Abstract]
Separate Accounts	Separate Accounts The following table presents the fair value of separate account assets (in millions) reported on the Consolidated Balance Sheets by major investment category: As of As of 2024 2023 Mutual funds and collective investment trusts $ 165,556 $ 157,578 Exchange-traded funds 352 350 Fixed maturity AFS securities 162 167 Cash and invested cash 8 25 Other investments 147 137 Total separate account assets $ 166,225 $ 158,257 The following table reconciles separate account liabilities (in millions) to the Consolidated Balance Sheets: As of As of 2024 2023 Variable Annuities $ 118,176 $ 113,356 UL and Other 27,007 25,150 Retirement Plan Services 20,986 19,699 Other Operations (1) 56 52 Total separate account liabilities $ 166,225 $ 158,257 (1) Represents separate account liabilities reported in Other Operations primarily attributable to the indemnity reinsurance agreements with Protective ($48 million and $46 million as of March 31, 2024, and December 31, 2023, respectively) that are excluded from the following tables. The following table summarizes the balances of and changes in separate account liabilities (in millions): As of or For the Three As of or For the Three Variable Annuities UL and Other Retirement Plan Services Variable Annuities UL and Other Retirement Plan Services Balance as of beginning-of-year $ 113,356 $ 25,150 $ 19,699 $ 105,573 $ 20,920 $ 16,996 Gross deposits 904 358 570 624 394 554 Withdrawals (3,208) (103) (732) (2,436) (75) (586) Policyholder assessments (648) (246) (44) (624) (238) (40) Change in market performance 7,503 1,885 1,475 5,054 1,193 978 Net transfers from (to) general account 269 (37) 18 143 (32) (26) Balance as of end-of-period $ 118,176 $ 27,007 $ 20,986 $ 108,334 $ 22,162 $ 17,876 Cash surrender value $ 116,771 $ 24,606 $ 20,971 $ 106,796 $ 19,863 $ 17,862

Policyholder Account Balances

Policyholder Account Balances	3 Months Ended
	Mar. 31, 2024
Policyholder Account Balance [Abstract]
Policyholder Account Balance	Policyholder Account Balances The following table reconciles policyholder account balances (in millions) to the Consolidated Balance Sheets: As of As of 2024 2023 Variable Annuities $ 31,408 $ 29,141 Fixed Annuities 25,162 25,355 UL and Other 37,006 37,180 Retirement Plan Services 23,586 23,784 Other (1) 5,138 5,277 Total policyholder account balances $ 122,300 $ 120,737 (1) Represents policyholder account balances reported primarily in Other Operations attributable to the indemnity reinsurance agreements with Protective ($4.7 billion and $4.9 billion as of March 31, 2024, and December 31, 2023, respectively) that are excluded from the following tables. The following table summarizes the balances and changes in policyholder account balances (in millions): As of or For the Three Months Ended March 31, 2024 Variable Annuities Fixed Annuities UL and Retirement Balance as of beginning-of-year $ 29,141 $ 25,355 $ 37,180 $ 23,784 Gross deposits 973 973 850 790 Withdrawals (224) (1,410) (364) (1,203) Policyholder assessments – (17) (1,124) (3) Net transfers from (to) separate account (178) – 38 50 Interest credited 158 183 365 168 Change in fair value of embedded derivative instruments 1,538 78 61 – Balance as of end-of-period $ 31,408 $ 25,162 $ 37,006 $ 23,586 Weighted-average crediting rate 2.1% 2.9% 3.9% 2.8% Net amount at risk (1)(2) $ 2,056 $ 210 $ 300,740 $ 3 Cash surrender value 30,228 24,139 33,314 23,560 As of or For the Three Months Ended March 31, 2023 Variable Annuities Fixed Annuities UL and Retirement Balance as of beginning-of-year $ 22,184 $ 23,365 $ 37,694 $ 25,138 Gross deposits 1,222 1,317 926 701 Withdrawals (170) (889) (393) (1,113) Policyholder assessments – (15) (1,128) (3) Net transfers from (to) separate account (114) – 32 103 Interest credited 109 154 373 168 Change in fair value of embedded derivative instruments 540 87 29 – Balance as of end-of-period $ 23,771 $ 24,019 $ 37,533 $ 24,994 Weighted-average crediting rate 1.9 % 2.6 % 4.0 % 2.7 % Net amount at risk (1)(2) $ 6,268 $ 192 $ 303,412 $ 9 Cash surrender value 22,698 23,125 34,033 24,989 (1) NAR is the current guaranteed minimum benefit in excess of the current account balance as of the balance sheet date. For GLBs, the guaranteed minimum benefit is calculated based on the present value of GLB payments. Our variable annuity products may offer more than one type of guaranteed benefit rider to a policyholder. In instances where more than one guaranteed benefit rider exists in a contract, the guaranteed benefit rider that provides the highest NAR is used in the calculation. (2) Calculation is based on total account balances and includes both policyholder account balances and separate account balances. The following table presents policyholder account balances (in millions) by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between the interest being credited to policyholders and the respective guaranteed contract minimums: As of March 31, 2024 At 1-50 Basis 51-100 101-150 Greater Total Range of Guaranteed Minimum Crediting Rate Variable Annuities Up to 1.00% $ – $ – $ – $ – $ – $ – 1.01% - 2.00% 5 – – – 6 11 2.01% - 3.00% 560 – – – – 560 3.01% - 4.00% 1,319 – – – – 1,319 4.01% and above 9 – – – – 9 Other (1) – – – – – 29,509 Total $ 1,893 $ – $ – $ – $ 6 $ 31,408 Fixed Annuities Up to 1.00% $ 679 $ 605 $ 560 $ 493 $ 2,466 $ 4,803 1.01% - 2.00% 360 99 285 500 3,231 4,475 2.01% - 3.00% 1,749 39 5 1 25 1,819 3.01% - 4.00% 916 – – – – 916 4.01% and above 177 – – – – 177 Other (1) – – – – – 12,972 Total $ 3,881 $ 743 $ 850 $ 994 $ 5,722 $ 25,162 UL and Other Up to 1.00% $ 264 $ – $ 219 $ 119 $ 30 $ 632 1.01% - 2.00% 548 – – – 3,208 3,756 2.01% - 3.00% 6,848 10 149 – – 7,007 3.01% - 4.00% 15,596 – 1 – – 15,597 4.01% and above 3,722 – – – – 3,722 Other (1) – – – – – 6,292 Total $ 26,978 $ 10 $ 369 $ 119 $ 3,238 $ 37,006 Retirement Plan Services Up to 1.00% $ 437 $ 500 $ 740 $ 3,706 $ 4,320 $ 9,703 1.01% - 2.00% 527 1,660 1,413 1,345 14 4,959 2.01% - 3.00% 2,342 21 63 17 1 2,444 3.01% - 4.00% 4,842 31 3 3 – 4,879 4.01% and above 1,458 143 – – – 1,601 Total $ 9,606 $ 2,355 $ 2,219 $ 5,071 $ 4,335 $ 23,586 As of March 31, 2023 At 1-50 Basis 51-100 101-150 Greater Total Range of Guaranteed Minimum Crediting Rate Variable Annuities Up to 1.00% $ – $ – $ – $ – $ – $ – 1.01% - 2.00% 4 – – – 8 12 2.01% - 3.00% 634 – – – – 634 3.01% - 4.00% 1,503 – – – – 1,503 4.01% and above 10 – – – – 10 Other (1) – – – – – 21,612 Total $ 2,151 $ – $ – $ – $ 8 $ 23,771 Fixed Annuities Up to 1.00% $ 831 $ 447 $ 578 $ 448 $ 1,773 $ 4,077 1.01% - 2.00% 559 141 184 493 1,083 2,460 2.01% - 3.00% 1,885 6 2 – – 1,893 3.01% - 4.00% 1,473 – – – – 1,473 4.01% and above 193 – – – – 193 Other (1) – – – – – 13,923 Total $ 4,941 $ 594 $ 764 $ 941 $ 2,856 $ 24,019 UL and Other Up to 1.00% $ 312 $ – $ 202 $ 26 $ 348 $ 888 1.01% - 2.00% 556 – – – 3,229 3,785 2.01% - 3.00% 7,130 158 – – – 7,288 3.01% - 4.00% 16,107 – 1 – – 16,108 4.01% and above 3,767 – – – – 3,767 Other (1) – – – – – 5,697 Total $ 27,872 $ 158 $ 203 $ 26 $ 3,577 $ 37,533 Retirement Plan Services Up to 1.00% $ 595 $ 751 $ 3,062 $ 2,911 $ 2,213 $ 9,532 1.01% - 2.00% 977 2,629 1,196 527 – 5,329 2.01% - 3.00% 3,093 – – – – 3,093 3.01% - 4.00% 5,442 – – – – 5,442 4.01% and above 1,598 – – – – 1,598 Total $ 11,705 $ 3,380 $ 4,258 $ 3,438 $ 2,213 $ 24,994 (1)

Future Contract Benefits

Future Contract Benefits	3 Months Ended
	Mar. 31, 2024
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Future Contract Benefits	Future Contract Benefits The following table reconciles future contract benefits (in millions) to the Consolidated Balance Sheets: As of As of 2024 2023 Payout Annuities (1) $ 2,034 $ 2,085 Traditional Life (1) 3,793 3,841 Group Protection (2) 5,640 5,689 UL and Other (3) 14,444 15,000 Other Operations (4) 9,615 9,879 Other (5) 3,322 3,371 Total future contract benefits $ 38,848 $ 39,864 (1) See liability for future policy benefits (“LFPB”) below for further information. (2) See “Liability for Future Claims” below for further information. (3) See “Additional Liabilities for Other Insurance Benefits” below for further information. (4) Represents future contract benefits reported in Other Operations primarily attributable to the indemnity reinsurance agreements with Protective ($5.5 billion and $5.6 billion as of March 31, 2024, and December 31, 2023, respectively) and Swiss Re ($2.2 billion as of March 31, 2024, and December 31, 2023) that are excluded from the following tables. (5) Represents other miscellaneous reserves that are not representative of long-duration contracts and are excluded from the following tables. LFPB The following table summarizes the balances of and changes in the present values of expected net premiums and LFPB (in millions, except years): As of or For the Three As of or For the Three Payout Annuities Traditional Life Payout Annuities Traditional Life Present Value of Expected Net Premiums Balance as of beginning-of-year $ – $ 6,200 $ – $ 6,063 Less: Effect of cumulative changes in discount rate assumptions – (148) – (582) Beginning balance at original discount rate – 6,348 – 6,645 Effect of actual variances from expected experience – 2 – (241) Adjusted balance as of beginning-of-year – 6,350 – 6,404 Issuances – 108 – 176 Interest accrual – 63 – 60 Net premiums collected – (202) – (203) Flooring impact of LFPB – 3 – 2 Ending balance at original discount rate – 6,322 – 6,439 Effect of cumulative changes in discount rate assumptions – (254) – (230) Balance as of end-of-period $ – $ 6,068 $ – $ 6,209 Present Value of Expected LFPB Balance as of beginning-of-year $ 2,085 $ 10,041 $ 2,004 $ 9,572 Less: Effect of cumulative changes in discount rate assumptions (187) (189) (263) (785) Beginning balance at original discount rate (1) 2,272 10,230 2,267 10,357 Effect of actual variances from expected experience 1 7 (1) (251) Adjusted balance as of beginning-of-year 2,273 10,237 2,266 10,106 Issuances 15 108 27 177 Interest accrual 22 100 21 95 Benefit payments (49) (206) (46) (186) Ending balance at original discount rate (1) 2,261 10,239 2,268 10,192 Effect of cumulative changes in discount rate assumptions (227) (378) (200) (302) Balance as of end-of-period $ 2,034 $ 9,861 $ 2,068 $ 9,890 Net balance as of end-of-period $ 2,034 $ 3,793 $ 2,068 $ 3,681 Less: reinsurance recoverables 1,562 421 3 520 Net balance as of end-of-period, net of reinsurance $ 472 $ 3,372 $ 2,065 $ 3,161 Weighted-average duration of future policyholder benefit liability (years) 9 9 9 10 (1) Includes deferred profit liability within Payout Annuities of $60 million and $43 million as of March 31, 2024 and 2023, respectively. For the three months ended March 31, 2024 and 2023, Traditional Life and Payout Annuities did not have any significantly different actual experience compared to expected. The following table summarizes the discounted and undiscounted expected future gross premiums and expected future benefit payments (in millions): As of March 31, 2024 As of March 31, 2023 Undiscounted Discounted Undiscounted Discounted Payout Annuities Expected future gross premiums $ – $ – $ – $ – Expected future benefit payments 3,438 2,034 3,461 2,068 Traditional Life Expected future gross premiums 13,896 9,570 14,005 9,750 Expected future benefit payments 14,582 9,861 14,485 9,890 The following table summarizes the gross premiums and interest accretion (in millions) recognized in insurance premiums and benefits, respectively, on the Consolidated Statements of Comprehensive Income (Loss): For the Three Months Ended 2024 2023 Payout Annuities Gross premiums $ 21 $ 28 Interest accretion 22 21 Traditional Life Gross premiums 314 313 Interest accretion 37 35 The following table summarizes the weighted-average interest rates: For the Three Months Ended 2024 2023 Payout Annuities Interest accretion rate 3.9 % 3.9 % Current discount rate 5.2 % 4.9 % Traditional Life Interest accretion rate 5.0 % 5.1 % Current discount rate 5.0 % 4.8 % Liability for Future Claims The following table summarizes the balances of and changes in liability for future claims (in millions, except years): Group Protection As of or For the Three 2024 2023 Balance as of beginning-of-year $ 5,689 $ 5,462 Less: Effect of cumulative changes in discount rate assumptions (490) (597) Beginning balance at original discount rate 6,179 6,059 Effect of actual variances from expected experience (67) (100) Adjusted beginning-of-year balance 6,112 5,959 New incidence 408 437 Interest 48 42 Benefit payments (382) (377) Ending balance at original discount rate 6,186 6,061 Effect of cumulative changes in discount rate assumptions (546) (569) Balance as of end-of-period 5,640 5,492 Less: reinsurance recoverables 123 126 Balance as of end-of-period, net of reinsurance $ 5,517 $ 5,366 Weighted-average duration of liability for future claims (years) 5 4 For the three months ended March 31, 2024 and 2023, we experienced more favorable claim terminations than assumed. The following table summarizes the discounted and undiscounted expected future benefit payments (in millions): As of March 31, 2024 As of March 31, 2023 Undiscounted Discounted Undiscounted Discounted Group Protection Expected future benefit payments $ 7,296 $ 5,640 $ 7,086 $ 5,492 The following table summarizes the gross premiums and interest accretion (in millions) recognized in insurance premiums and benefits, respectively, on the Consolidated Statements of Comprehensive Income (Loss): For the Three Months Ended 2024 2023 Group Protection Gross premiums $ 896 $ 885 Interest accretion 48 42 The following table summarizes the weighted-average interest rates: For the Three Months Ended 2024 2023 Group Protection Interest accretion rate 3.2 % 2.9 % Current discount rate 5.0 % 4.8 % Additional Liabilities for Other Insurance Benefits The following table summarizes the balances of and changes in additional liabilities for other insurance benefits (in millions, except years): UL and Other As of or For the Three 2024 2023 Balance as of beginning-of-year $ 15,000 $ 14,818 Less: Effect of cumulative changes in shadow balance in AOCI (2,222) (905) Balance as of beginning-of-year, excluding shadow balance in AOCI 17,222 15,723 Effect of actual variances from expected experience 106 (9) Adjusted beginning-of-year balance 17,328 15,714 Interest accrual 209 186 Net assessments collected 303 336 Benefit payments (313) (183) Balance as of end-of-period, excluding shadow balance in AOCI 17,527 16,053 Effect of cumulative changes in shadow balance in AOCI (3,083) (669) Balance as of end-of-period 14,444 15,384 Less: reinsurance recoverables (1) 4,776 862 Balance as of end-of-period, net of reinsurance $ 9,668 $ 14,522 Weighted-average duration of additional liabilities for other insurance benefits (years) 17 17 (1) Increase in reinsurance recoverables driven by the reinsurance agreement with Fortitude Re effective October 1, 2023 for certain blocks of in-force ULSG. See Note 7 For the three months ended March 31, 2024, we had unfavorable actual mortality experience compared to expected. For the three months ended March 31, 2023, we did not have any significantly different actual experience compared to expected. The following table summarizes the gross assessments and interest accretion (in millions) recognized in insurance premiums and benefits, respectively, on the Consolidated Statements of Comprehensive Income (Loss): For the Three Months Ended 2024 2023 UL and Other Gross assessments $ 766 $ 915 Interest accretion 209 186 The following table summarizes the weighted-average interest rates: For the Three Months Ended 2024 2023 UL and Other Interest accretion rate 5.3 % 5.0 %

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt Changes in debt (in millions) were as follows: For the Three Months Ended 2024 Balance as of beginning-of-year $ 5,949 Issuance of 5.852% Senior Notes due 2034 350 Partial repayment of variable rate term loan, due 2024 (1) (47) Unamortized debt issuance costs (2) Unamortized adjustments from discontinued hedges (4) Fair value hedge on interest rate swap agreements (17) Balance as of end-of-period $ 6,229 (1) Term loan uses a Secured Overnight Financing Rate (“SOFR”)-based interest rate, plus transition spread of 10 basis points and credit spread of 112.5 basis points.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying values and estimated fair values of our financial instruments (in millions) were as follows: As of March 31, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Assets Fixed maturity AFS securities $ 87,764 $ 87,764 $ 88,738 $ 88,738 Trading securities 2,227 2,227 2,359 2,359 Equity securities 319 319 306 306 Mortgage loans on real estate 19,266 17,658 18,963 17,407 Derivative investments 8,394 8,394 6,474 6,474 Other investments 5,256 5,256 5,015 5,015 Cash and invested cash 4,122 4,122 3,365 3,365 MRB assets 4,878 4,878 3,894 3,894 Other assets: Ceded MRBs 2 2 2 2 Indexed annuity ceded embedded derivatives 973 973 940 940 Separate account assets 166,225 166,225 158,257 158,257 Liabilities Policyholder account balances: Account balances of certain investment contracts (44,386) (33,752) (44,640) (34,041) RILA, fixed annuity and IUL contracts (10,896) (10,896) (9,077) (9,077) Funds withheld reinsurance liabilities – reinsurance-related embedded derivatives (355) (355) (552) (552) MRB liabilities (1,266) (1,266) (1,716) (1,716) Short-term debt (503) (493) (250) (249) Long-term debt (5,726) (5,058) (5,699) (5,182) Other liabilities: Ceded MRBs (360) (360) (239) (239) Derivative liabilities (186) (186) (356) (356) Remaining guaranteed interest and similar contracts (397) (397) (411) (411) Valuation Methodologies and Associated Inputs for Financial Instruments Not Carried at Fair Value The following discussion outlines the methodologies and assumptions used to determine the fair value of our financial instruments not carried at fair value on the Consolidated Balance Sheets. Considerable judgment is required to develop these assumptions used to measure fair value. Accordingly, the estimates shown are not necessarily indicative of the amounts that would be realized in a one-time, current market exchange of all of our financial instruments. Mortgage Loans on Real Estate The fair value of mortgage loans on real estate, excluding mortgage loans accounted for using the fair value option, is established using a discounted cash flow method based on credit rating, maturity and future income. The ratings for mortgages in good standing are based on property type, location, market conditions, occupancy, debt-service coverage, loan-to-value, quality of tenancy, borrower and payment record. The fair value for impaired mortgage loans is based on the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s market price or the fair value of the collateral if the loan is collateral dependent. The inputs used to measure the fair value of our mortgage loans on real estate, excluding mortgage loans accounted for using the fair value option, are classified as Level 2 within the fair value hierarchy. Other Investments The carrying value of our assets classified as other investments, excluding short-term investments, approximates fair value. Other investments includes primarily LPs and other privately held investments that are accounted for using the equity method of accounting and the carrying value is based on our proportional share of the net assets of the LPs. Other investments also includes FHLB stock carried at cost and periodically evaluated for impairment based on ultimate recovery of par value. The inputs used to measure the fair value of our LPs, other privately held investments and FHLB stock are classified as Level 3 within the fair value hierarchy. The remaining assets in other investments include cash collateral receivables and securities that are not LPs or other privately held investments. The inputs used to measure the fair value of these assets are classified as Level 2 within the fair value hierarchy. Separate Account Assets Separate account assets are primarily carried at fair value. A portion of our separate account assets includes LPs, which are accounted for using the equity method of accounting. The carrying value is based on our proportional share of the net assets of the LPs and approximates fair value. The inputs used to measure the fair value of the separate account asset LPs are classified as Level 3 within the fair value hierarchy. Policyholder Account Balances Policyholder account balances include account balances of certain investment contracts. The fair value of the account balances of certain investment contracts is based on their approximate surrender value as of the balance sheet date. The inputs used to measure the fair value of these policyholder account balances are classified as Level 3 within the fair value hierarchy. Other Liabilities Other liabilities include remaining guaranteed interest and similar contracts. The fair value for the remaining guaranteed interest and similar contracts is estimated using discounted cash flow calculations as of the balance sheet date. These calculations are based on interest rates currently offered on similar contracts with maturities that are consistent with those remaining for the contracts being valued. As of March 31, 2024, and December 31, 2023, the remaining guaranteed interest and similar contracts carrying value approximated fair value. The inputs used to measure the fair value of these other liabilities are classified as Level 3 within the fair value hierarchy. Short-Term and Long-Term Debt The fair value of short-term and long-term debt is based on quoted market prices. The inputs used to measure the fair value of our short-term and long-term debt are classified as Level 2 within the fair value hierarchy. Fair Value Option Mortgage loans on real estate, net of allowance for credit losses, as reported on the Consolidated Balance Sheets, includes mortgage loans on real estate for which the fair value option was elected. The fair value option allows us to elect fair value as an alternative measurement for mortgage loans not otherwise reported at fair value. We have made these elections for certain mortgage loans associated with modified coinsurance agreements to help mitigate the inconsistency in earnings that would otherwise result from the use of embedded derivatives included with these loans. Changes in fair value are reflected in realized gain (loss) on the Consolidated Statement of Comprehensive Income (Loss). Changes in fair value due to instrument-specific credit risk are estimated using changes in credit spreads and quality ratings for the period reported. Mortgage loans on real estate for which the fair value option was elected are valued using third-party pricing services. We have procedures in place to review the valuations each quarter to ensure they are reasonable, including utilizing a separate third party to reperform the valuation for a selection of mortgage loans on an annual basis. Due to lack of observable inputs, mortgage loans electing the fair value option are classified as Level 3 within the fair value hierarchy. The fair value and aggregate contractual principal for mortgage loans on real estate where the fair value option was elected (in millions) were as follows: As of As of 2024 2023 Fair value $ 289 $ 288 Aggregate contractual principal 326 326 As of March 31, 2024, and December 31, 2023, no loans for which the fair value option was elected were in non-accrual status, and none were more than 90 days past due and still accruing interest. Financial Instruments Carried at Fair Value We did not have any assets or liabilities measured at fair value on a nonrecurring basis as of March 31, 2024, or December 31, 2023. The following summarizes our financial instruments carried at fair value (in millions) on a recurring basis by the fair value hierarchy levels: As of March 31, 2024 Quoted Prices in Active Markets for Significant Significant Identical Observable Unobservable Total Assets Inputs Inputs Fair (Level 1) (Level 2) (Level 3) Value Assets Investments: Fixed maturity AFS securities: Corporate bonds $ – $ 66,044 $ 2,489 $ 68,533 U.S. government bonds 371 20 – 391 State and municipal bonds – 2,743 – 2,743 Foreign government bonds – 263 – 263 RMBS – 1,747 12 1,759 CMBS – 1,476 8 1,484 ABS – 10,657 1,692 12,349 Hybrid and redeemable preferred securities 48 143 51 242 Trading securities – 1,956 271 2,227 Equity securities 12 268 39 319 Mortgage loans on real estate – – 289 289 Derivative investments (1) – 14,584 727 15,311 Other investments – short-term investments – 217 – 217 Cash and invested cash – 4,122 – 4,122 MRB assets – – 4,878 4,878 Other assets: Ceded MRBs – – 2 2 Indexed annuity ceded embedded derivatives – – 973 973 Separate account assets 406 165,819 – 166,225 Total assets $ 837 $ 270,059 $ 11,431 $ 282,327 Liabilities Policyholder account balances – RILA, fixed annuity and IUL contracts $ – $ – $ (10,896) $ (10,896) Funds withheld reinsurance liabilities – reinsurance-related embedded derivatives – 228 (583) (355) MRB liabilities – – (1,266) (1,266) Other liabilities: Ceded MRBs – – (360) (360) Derivative liabilities (1) – (6,377) (726) (7,103) Total liabilities $ – $ (6,149) $ (13,831) $ (19,980) As of December 31, 2023 Quoted Prices in Active Markets for Significant Significant Identical Observable Unobservable Total Assets Inputs Inputs Fair (Level 1) (Level 2) (Level 3) Value Assets Investments: Fixed maturity AFS securities: Corporate bonds $ – $ 67,160 $ 2,497 $ 69,657 U.S. government bonds 374 19 – 393 State and municipal bonds – 2,785 5 2,790 Foreign government bonds – 283 – 283 RMBS – 1,760 13 1,773 CMBS – 1,416 8 1,424 ABS – 10,687 1,484 12,171 Hybrid and redeemable preferred securities 46 153 48 247 Trading securities – 2,075 284 2,359 Equity securities 1 263 42 306 Mortgage loans on real estate – – 288 288 Derivative investments (1) – 10,874 622 11,496 Other investments – short-term investments – 233 – 233 Cash and invested cash – 3,365 – 3,365 MRB assets – – 3,894 3,894 Other assets: Ceded MRBs – – 2 2 Indexed annuity ceded embedded derivatives – – 940 940 Separate account assets 402 157,855 – 158,257 Total assets $ 823 $ 258,928 $ 10,127 $ 269,878 Liabilities Policyholder account balances – RILA, fixed annuity and IUL contracts $ – $ – $ (9,077) $ (9,077) Funds withheld reinsurance liabilities – reinsurance-related embedded derivatives – 237 (789) (552) MRB liabilities – – (1,716) (1,716) Other liabilities: Ceded MRBs – – (239) (239) Derivative liabilities (1) – (4,792) (586) (5,378) Total liabilities $ – $ (4,555) $ (12,407) $ (16,962) (1) Derivative investment assets and liabilities are presented within the fair value hierarchy on a gross basis by derivative type and not on a master netting basis by counterparty. The following summarizes changes to our financial instruments carried at fair value (in millions) and classified within Level 3 of the fair value hierarchy. The gains and losses below may include changes in fair value due in part to observable inputs that are a component of the valuation methodology. The summary schedule excludes changes to MRB assets and MRB liabilities as these balances are rolled forward in Note 8 For the Three Months Ended March 31, 2024 Gains Issuances, Transfers Items (Losses) Sales, Into or Included in Maturities, Out Beginning in OCI Settlements, of Ending Fair Net and Calls, Level 3, Fair Value Income Other (1) Net Net Value Assets Investments: (2) Fixed maturity AFS securities: Corporate bonds $ 2,497 $ 2 $ (10) $ 22 $ (22) $ 2,489 State and municipal bonds 5 – – – (5) – RMBS 13 – (1) – – 12 CMBS 8 – – – – 8 ABS 1,484 – (1) 201 8 1,692 Hybrid and redeemable preferred securities 48 – 3 – – 51 Trading securities 284 – – (13) – 271 Equity securities 42 (3) – – – 39 Mortgage loans on real estate 288 – 1 – – 289 Derivative investments 36 12 – 4 (51) 1 Other assets: Ceded MRBs (3) 2 – – – – 2 Indexed annuity ceded embedded derivatives (4) 940 33 – – – 973 Liabilities Policyholder account balances – RILA, fixed annuity and IUL contracts (4) (9,077) (1,677) – (142) – (10,896) Funds withheld reinsurance liabilities – reinsurance-related embedded derivatives (4) (789) 206 – – – (583) Other liabilities – ceded MRBs (3) (239) (121) – – – (360) Total, net $ (4,458) $ (1,548) $ (8) $ 72 $ (70) $ (6,012) For the Three Months Ended March 31, 2023 Gains Issuances, Transfers Items (Losses) Sales, Into or Included in Maturities, Out Beginning in OCI Settlements, of Ending Fair Net and Calls, Level 3, Fair Value Income Other (1) Net Net Value Assets Investments: (2) Fixed maturity AFS securities: Corporate bonds $ 2,295 $ 1 $ 13 $ 30 $ 16 $ 2,355 State and municipal bonds 35 – 1 – – 36 RMBS 1 – – – – 1 ABS 1,117 – 8 168 (193) 1,100 Hybrid and redeemable preferred securities 49 – – (2) 12 59 Trading securities 581 4 – (127) – 458 Equity securities 153 (16) – – – 137 Mortgage loans on real estate 487 2 3 (2) – 490 Derivative investments 2 (1) – – – 1 Other assets: Ceded MRBs (3) 12 (6) – – – 6 Indexed annuity ceded embedded derivatives (4) 525 6 – (226) – 305 Liabilities Policyholder account balances – RILA, fixed annuity and IUL contracts (4) (4,783) (719) – (294) – (5,796) Other liabilities – ceded MRBs (3) (205) (47) – – – (252) Total, net $ 269 $ (776) $ 25 $ (453) $ (165) $ (1,100) (1) The changes in fair value of the interest rate swaps are offset by an adjustment to derivative investments (see Note 5 (2) Amortization and accretion of premiums and discounts are included in net investment income on the Consolidated Statements of Comprehensive Income (Loss). Gains (losses) from sales, maturities, settlements and calls and credit loss expense are included in realized gain (loss) on the Consolidated Statements of Comprehensive Income (Loss). (3) Gains (losses) from the changes in fair value are included in market risk benefit gain (loss) on the Consolidated Statements of Comprehensive Income (Loss). (4) Gains (losses) from the changes in fair value are included in realized gain (loss) on the Consolidated Statements of Comprehensive Income (Loss). The following provides the components of the items included in issuances, sales, maturities, settlements and calls, net, (in millions) as reported above: For the Three Months Ended March 31, 2024 Issuances Sales Maturities Settlements Calls Total Investments: Fixed maturity AFS securities: Corporate bonds $ 277 $ (141) $ (2) $ (111) $ (1) $ 22 ABS 264 – – (63) – 201 Trading securities – (2) – (11) – (13) Mortgage loans on real estate 1 (1) – – – – Derivative investments 7 – (3) – – 4 Other assets – indexed annuity ceded embedded derivatives 26 – – (26) – – Policyholder account balances – RILA, fixed annuity and IUL contracts (249) – – 107 – (142) Total, net $ 326 $ (144) $ (5) $ (104) $ (1) $ 72 For the Three Months Ended March 31, 2023 Issuances Sales Maturities Settlements Calls Total Investments: Fixed maturity AFS securities: Corporate bonds $ 141 $ (35) $ (8) $ (68) $ – $ 30 ABS 241 (2) – (71) – 168 Hybrid and redeemable preferred securities – – – – (2) (2) Trading securities – (53) – (74) – (127) Mortgage loans on real estate 1 – – (3) – (2) Other assets – indexed annuity ceded embedded derivatives 50 – – (276) – (226) Policyholder account balances – RILA, fixed annuity and IUL contracts (300) – – 6 – (294) Total, net $ 133 $ (90) $ (8) $ (486) $ (2) $ (453) The following summarizes changes in unrealized gains (losses) included in net income related to financial instruments carried at fair value classified within Level 3 that we still held (in millions): For the Three 2024 2023 Trading securities (1) $ – $ 6 Equity securities (1) (3) (16) Mortgage loans on real estate (1) – 2 Derivative investments (1) 16 (2) MRBs (2) 1,896 (638) Funds withheld reinsurance liabilities – reinsurance-related embedded derivatives 206 – Embedded derivatives – indexed annuity and IUL contracts (1) 241 (153) Total, net (1) $ 2,356 $ (801) (1) Included in realized gain (loss) on the Consolidated Statements of Comprehensive Income (Loss). (2) Included in market risk benefit gain (loss) on the Consolidated Statements of Comprehensive Income (Loss). The following summarizes changes in unrealized gains (losses) included in OCI, net of tax, related to financial instruments carried at fair value classified within Level 3 that we still held (in millions): For the Three 2024 2023 Fixed maturity AFS securities: Corporate bonds $ (11) $ 13 State and municipal bonds – 1 ABS (1) 8 Hybrid and redeemable preferred securities 2 – Mortgage loans on real estate 1 2 Total, net $ (9) $ 24 The following provides the components of the transfers into and out of Level 3 (in millions) as reported above: For the Three For the Three Transfers Transfers Transfers Transfers Into Out of Into Out of Level 3 Level 3 Total Level 3 Level 3 Total Investments: Fixed maturity AFS securities: Corporate bonds $ 22 $ (44) $ (22) $ 59 $ (43) $ 16 State and municipal bonds – (5) (5) – – – ABS 31 (23) 8 – (193) (193) Hybrid and redeemable preferred securities – – – 12 – 12 Derivative investments – (51) (51) – – – Total, net $ 53 $ (123) $ (70) $ 71 $ (236) $ (165) Transfers into and out of Level 3 are generally the result of observable market information on financial instruments no longer being available or becoming available to our pricing vendors. For the three months ended March 31, 2024 and 2023, transfers in and out of Level 3 were attributable primarily to the financial instruments’ observable market information no longer being available or becoming available. The following summarizes the fair value (in millions), valuation techniques and significant unobservable inputs of the Level 3 fair value measurements as of March 31, 2024: Weighted Fair Valuation Significant Assumption or Average Input Value Technique Unobservable Inputs Input Ranges Range (1) Assets Investments: Fixed maturity AFS securities: Corporate bonds $ 202 Discounted cash flow Liquidity/duration adjustment (2) (0.1) % – 3.8 % 2.0 % ABS 11 Discounted cash flow Liquidity/duration adjustment (2) 1.6 % – 1.6 % 1.6 % CMBS 8 Discounted cash flow Liquidity/duration adjustment (2) 2.0 % — 2.0 % 2.0 % Hybrid and redeemable preferred securities 7 Discounted cash flow Liquidity/duration adjustment (2) 1.3 % – 1.5 % 1.4 % Equity securities 5 Discounted cash flow Liquidity/duration adjustment (2) 4.5 % – 4.5 % 4.5 % MRB assets 4,878 Other assets – ceded MRBs 2 Discounted cash flow Lapse (3) 1 % – 30 % (10) Utilization of GLB withdrawals (4) 85 % – 100 % 94 % Claims utilization factor (5) 60 % – 100 % (10) Premiums utilization factor (5) 80 % – 115 % (10) Non-performance risk (6) 0.31 % – 2.03 % 1.62 % Mortality (7) (9) (10) Volatility (8) 1 % – 29 % 14.14 % Other assets – indexed annuity ceded embedded derivatives 973 Discounted cash flow Lapse (3) 0% – 9 % (10) Mortality (7) (9) (10) Liabilities Policyholder account balances – indexed annuity contracts embedded derivatives $ (10,803) Discounted cash flow Lapse (3) 0% – 9 % (10) Mortality (7) (9) (10) MRB liabilities (1,266) Other liabilities – ceded MRBs (360) Discounted cash flow Lapse (3) 1 % – 30 % (10) Utilization of GLB withdrawals (4) 85 % – 100 % 94 % Claims utilization factor (5) 60 % – 100 % (10) Premiums utilization factor (5) 80 % – 115 % (10) Non-performance risk (6) 0.31 % – 2.03 % 1.62 % Mortality (7) (9) (10) Volatility (8) 1 % – 29 % 14.14 % The following summarizes the fair value (in millions), valuation techniques and significant unobservable inputs of the Level 3 fair value measurements as of December 31, 2023: Weighted Fair Valuation Significant Assumption or Average Input Value Technique Unobservable Inputs Input Ranges Range (1) Assets Investments: Fixed maturity AFS securities: Corporate bonds $ 186 Discounted cash flow Liquidity/duration adjustment (2) (0.2) % – 3.7 % 2.1 % State and municipal bonds 5 Discounted cash flow Liquidity/duration adjustment (2) 0.9 % – 2.2 % 2.1 % CMBS 8 Discounted cash flow Liquidity/duration adjustment (2) 2.3 % – 2.3 % 2.3 % ABS 12 Discounted cash flow Liquidity/duration adjustment (2) 1.8 % – 1.8 % 1.8 % Hybrid and redeemable preferred securities 7 Discounted cash flow Liquidity/duration adjustment (2) 1.4 % – 1.5 % 1.5 % Equity securities 5 Discounted cash flow Liquidity/duration adjustment (2) 4.5 % – 4.5 % 4.5 % MRB assets 3,894 Other assets – ceded MRBs 2 Discounted cash flow Lapse (3) 1 % – 30 % (10) Utilization of GLB withdrawals (4) 85 % – 100 % 94 % Claims utilization factor (5) 60 % – 100 % (10) Premiums utilization factor (5) 80 % – 115 % (10) Non-performance risk (6) 0.51 % – 2.13 % 1.78 % Mortality (7) (9) (10) Volatility (8) 1 % – 29 % 13.92 % Other assets – indexed annuity ceded embedded derivatives 940 Discounted cash flow Lapse (3) 0 % – 9 % (10) Mortality (7) (9) (10) Liabilities Policyholder account balances – indexed annuity contracts embedded derivatives $ (9,013) Discounted cash flow Lapse (3) 0 % – 9 % (10) Mortality (7) (9) (10) MRB liabilities (1,716) Other liabilities – ceded MRBs (239) Discounted cash flow Lapse (3) 1 % – 30 % (10) Utilization of GLB withdrawals (4) 85 % – 100 % 94 % Claims utilization factor (5) 60 % – 100 % (10) Premiums utilization factor (5) 80 % – 115 % (10) Non-performance risk (6) 0.51 % – 2.13 % 1.78 % Mortality (7) (9) (10) Volatility (8) 1 % – 29 % 13.92 % (1) Unobservable inputs were weighted by the relative fair value of the instruments, unless otherwise noted. (2) The liquidity/duration adjustment input represents an estimated market participant composite of adjustments attributable to liquidity premiums, expected durations, structures and credit quality that would be applied to the market observable information of an investment. (3) The lapse input represents the estimated probability of a contract surrendering during a year, and thereby forgoing any future benefits. The range for indexed annuity contracts represents the lapses during the surrender charge period. (4) The utilization of GLB withdrawals input represents the estimated percentage of policyholders that utilize the GLB withdrawal riders. (5) The utilization factors are applied to the present value of claims or premiums, as appropriate, in the MRB calculation to estimate the impact of inefficient GLB withdrawal behavior, including taking less than or more than the maximum GLB withdrawal. (6) The non-performance risk input represents the estimated additional credit spread that market participants would apply to the market observable discount rate when pricing a contract. The non-performance risk input was weighted by the absolute value of the sensitivity of the reserve to the non-performance risk assumption. (7) The mortality input represents the estimated probability of when an individual belonging to a particular group, categorized according to age or some other factor such as gender, will die. (8) The volatility input represents overall volatilities assumed for the underlying variable annuity funds, which include a mixture of equity and fixed-income assets. Volatility assumptions vary by fund due to the benchmarking of different indices. The volatility input was weighted by the relative account balance assigned to each index. (9) The mortality is based on a combination of company and industry experience, adjusted for improvement factors. (10) A weighted average input range is not a meaningful measurement for lapse, utilization factors or mortality. From the table above, we have excluded Level 3 fair value measurements obtained from independent, third-party pricing sources. We do not develop the significant inputs used to measure the fair value of these assets and liabilities, and the information regarding the significant inputs is not readily available to us. Independent broker-quoted fair values are non-binding quotes developed by market makers or broker-dealers obtained from third-party sources recognized as market participants. The fair value of a broker-quoted asset or liability is based solely on the receipt of an updated quote from a single market maker or a broker-dealer recognized as a market participant as we do not adjust broker quotes when used as the fair value measurement for an asset or liability. Significant increases or decreases in any of the quotes received from a third-party broker-dealer may result in a significantly higher or lower fair value measurement. The embedded derivative liability associated with Fortitude Re was excluded from the above table. As discussed in Note 7 Changes in any of the significant inputs presented in the table above would have resulted in a significant change in the fair value measurement of the asset or liability as follows: • Investments – An increase in the liquidity/duration adjustment input would have resulted in a decrease in the fair value measurement. • Indexed annuity contracts embedded derivatives – For direct embedded derivatives, an increase in the lapse or mortality inputs would have resulted in a decrease in the fair value measurement. • MRBs – Assuming our MRBs are in a liability position: an increase in our lapse, non-performance risk or mortality inputs would have resulted in a decrease in the fair value measurement, except for policies with guaranteed death benefit (“GDB”) riders only, in which case an increase in mortality inputs would have resulted in an increase in the fair value measurement.

Contingencies and Commitments

Contingencies and Commitments	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Commitments	Contingencies and Commitments Contingencies Reinsurance Disputes Certain reinsurers have sought rate increases on certain yearly renewable term agreements. We are disputing the requested rate increases under these agreements. We may initiate legal proceedings, as necessary, under these agreements in order to protect our contractual rights. Additionally, reinsurers have initiated, and may in the future initiate, legal proceedings against us. While this may impact the Life Insurance segment, we believe it is unlikely the outcome of these disputes would have a material impact on the consolidated financial statements. Regulatory and Litigation Matters Regulatory bodies, such as state insurance departments, the SEC, the Financial Industry Regulatory Authority and other regulatory bodies regularly make inquiries and conduct examinations or investigations concerning our compliance with, among other things, insurance laws, securities laws, laws governing the activities of broker-dealers, registered investment advisers and unclaimed property laws. LNC is involved in various pending or threatened legal or regulatory proceedings, including purported class actions, arising from the conduct of business both in the ordinary course and otherwise. In some of the matters, very large and/or indeterminate amounts, including punitive and treble damages, are sought. Modern pleading practice in the U.S. permits considerable variation in the assertion of monetary damages or other relief. Jurisdictions may permit claimants not to specify the monetary damages sought or may permit claimants to state only that the amount sought is sufficient to invoke the jurisdiction of the trial court. In addition, jurisdictions may permit plaintiffs to allege monetary damages in amounts well exceeding verdicts obtained in the jurisdiction for similar matters. This variability in pleadings, together with the actual experiences of LNC in litigating or resolving through settlement numerous claims over an extended period of time, demonstrates to management that the monetary relief which may be specified in a lawsuit or claim bears little relevance to its merits or disposition value. Due to the unpredictable nature of litigation, the outcome of a litigation matter and the amount or range of potential loss at particular points in time is normally difficult to ascertain. Uncertainties can include how fact finders will evaluate documentary evidence and the credibility and effectiveness of witness testimony, and how trial and appellate courts will apply the law in the context of the pleadings or evidence presented, whether by motion practice, or at trial or on appeal. Disposition valuations are also subject to the uncertainty of how opposing parties and their counsel will themselves view the relevant evidence and applicable law. We establish liabilities for litigation and regulatory loss contingencies when information related to the loss contingencies shows both that it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. It is possible that some matters could require us to pay damages or make other expenditures or establish accruals in amounts that could not be estimated as of March 31, 2024. For some matters, the Company is able to estimate a reasonably possible range of loss. For such matters in which a loss is probable, an accrual has been made. For such matters where a loss is believed to be reasonably possible, but not probable, no accrual has been made. Accordingly, the estimate contained in this paragraph reflects two types of matters. For some matters included within this estimate, an accrual has been made, but there is a reasonable possibility that an exposure exists in excess of the amount accrued. In these cases, the estimate reflects the reasonably possible range of loss in excess of the accrued amount. For other matters included within this estimation, no accrual has been made because a loss, while potentially estimable, is believed to be reasonably possible but not probable. In these cases, the estimate reflects the reasonably possible loss or range of loss. As of March 31, 2024, we estimate the aggregate range of reasonably possible losses, including amounts in excess of amounts accrued for these matters as of such date, to be up to approximately $150 million, after-tax. Any estimate is not an indication of expected loss, if any, or of the Company’s maximum possible loss exposure on such matters. For other matters, we are not currently able to estimate the reasonably possible loss or range of loss. We are often unable to estimate the possible loss or range of loss until developments in such matters have provided sufficient information to support an assessment of the range of possible loss, such as quantification of a damage demand from plaintiffs, discovery from other parties and investigation of factual allegations, rulings by the court on motions or appeals, analysis by experts and the progress of settlement negotiations. On a quarterly and annual basis, we review relevant information with respect to litigation contingencies and update our accruals, disclosures and estimates of reasonably possible losses or ranges of loss based on such reviews. Among other matters, we are presently engaged in litigation, including relating to cost of insurance rates (“Cost of Insurance and Other Litigation”), as described below. No accrual has been made for some of these matters. Although a loss is believed to be reasonably possible for these matters, for some of these matters, we are not able to estimate a reasonably possible amount or range of potential liability. An adverse outcome in one or more of these matters may have a material impact on the consolidated financial statements, but, based on information currently known, management does not believe those cases are likely to have such an impact. Cost of Insurance and Other Litigation Cost of Insurance Litigation Glover v. Connecticut General Life Insurance Company and The Lincoln National Life Insurance Company , filed in the U.S. District Court for the District of Connecticut, No. 3:16-cv-00827, is a putative class action that was served on The Lincoln National Life Insurance Company (“LNL”) on June 8, 2016. Plaintiff is the owner of a universal life insurance policy who alleges that LNL charged more for non-guaranteed cost of insurance than permitted by the policy. Plaintiff seeks to represent all universal life and variable universal life policyholders who owned policies containing non-guaranteed cost of insurance provisions that are similar to those of plaintiff’s policy and seeks damages on behalf of all such policyholders. On January 11, 2019, the court dismissed plaintiff’s complaint in its entirety. In response, plaintiff filed a motion for leave to amend the complaint, which, on September 25, 2023, the court granted in part and denied in part. Plaintiff filed an amended complaint on October 10, 2023. On March 7, 2024, the parties entered into a settlement agreement, which is subject to court approval. The provisional settlement encompasses policies that are at issue in the Glover case, which also includes all policies in the lawsuits captioned Iwanski v. First Penn-Pacific Life Insurance Company , TVPX ARS INC., as Securities Intermediary for Consolidated Wealth Management, LTD. v. The Lincoln National Life Insurance Company and Vida Longevity Fund, LP v. Lincoln Life & Annuity Company of New York , each of which are described below. The Glover plaintiffs’ motion for preliminary approval of the provisional settlement was filed on March 8, 2024. The provisional settlement, which is subject to both preliminary and final approval of the court, consists of a $147.5 million pre-tax cash payment for Glover class members (inclusive of all policyholders in Iwanski , TVPX ARS INC. and Vida ). We recorded a pre-tax legal accrual for the three months ended March 31, 2024, of approximately $110 million within commissions and other expenses on the Consolidated Statements of Comprehensive Income (Loss) in respect of this provisional settlement. As of March 31, 2024, we had accrued the total provisional settlement amount of $147.5 million, pre-tax. EFG Bank AG, Cayman Branch, et al. v. The Lincoln National Life Insurance Company , pending in the U.S. District Court for the Eastern District of Pennsylvania, No. 2:17-cv-02592, is a civil action filed on February 1, 2017. Plaintiffs own universal life insurance policies originally issued by Jefferson-Pilot (now LNL). Among other things, plaintiffs allege that LNL breached the terms of policyholders’ contracts when it increased non-guaranteed cost of insurance rates beginning in 2016. We are vigorously defending this matter. In re: Lincoln National COI Litigation , pending in the U.S. District Court for the Eastern District of Pennsylvania, Case No. 2:16-cv-06605-GJP, is a consolidated litigation matter related to multiple putative class action cases that were consolidated by an order dated March 20, 2017. Plaintiffs purport to own certain universal life insurance policies originally issued by Jefferson-Pilot (now LNL). Among other things, plaintiffs allege that LNL and LNC breached the terms of policyholders’ contracts by increasing non-guaranteed cost of insurance rates beginning in 2016. Plaintiffs sought to represent classes of policyowners and sought damages on their behalf. On August 9, 2022, the court denied plaintiffs’ motion for class certification. The parties participated in a mediation on December 13, 2022, and subsequently reached a settlement. On January 26, 2023, the parties informed the presiding judge of a class settlement in this action, subject to final documentation and court approval. On March 24, 2023, plaintiffs filed a motion for preliminary approval of the class settlement, which was granted by the court on June 14, 2023. The provisional settlement, which was subject to both preliminary and final approval of the court, consisted of $117.75 million in pre-tax cash (in the aggregate for both this litigation and the In re: Lincoln National 2017 COI Rate Litigation matter discussed immediately below) and a five-year cost of insurance rate freeze, among other terms. After certain policyholders timely opted out or otherwise excluded themselves from the settlement class with respect to certain policies, the pre-tax cash settlement fund was reduced to $109.96 million. The court granted final approval of the settlement on October 5, 2023. On December 27, 2023, the court ordered that supplemental notice of the class settlement be mailed to a small percentage of settlement class members who had not been sent the initial class notice. Those policyholders own policies representing less than 0.14% of the total of all Policy Claim Amounts (as defined in the parties’ settlement agreement). No additional opt-outs were received following the supplemental notice period. Settlement distribution payments to all class members were completed on April 8, 2024. Certain of the policyholders who did not participate in the settlement are plaintiffs in Brighton Trustees, LLC, et al. v. The Lincoln National Life Insurance Company and Ryan K. Crayne, on behalf of and as trustee for Carlton Peak Trust v. The Lincoln National Life Insurance Company discussed further below. The remaining policyholders who are not participants in the settlement may bring individual actions in the future to the extent they have not already done so. In re: Lincoln National 2017 COI Rate Litigation , pending in the U.S. District Court for the Eastern District of Pennsylvania, Case No. 2:17-cv-04150, is a consolidated litigation matter related to multiple putative class action cases that were consolidated by an order dated March 28, 2018. Plaintiffs purport to own certain universal life insurance policies originally issued by Jefferson-Pilot (now LNL). Among other things, plaintiffs allege that LNL and LNC breached the terms of policyholders’ contracts by increasing non-guaranteed cost of insurance rates beginning in 2017. Plaintiffs sought to represent classes of policyholders and sought damages on their behalf. On August 9, 2022, the court denied plaintiffs’ motion for class certification. The parties participated in a mediation on December 13, 2022, and subsequently reached a settlement. On January 26, 2023, the parties informed the presiding judge of a class settlement in this action, subject to final documentation and court approval. On March 24, 2023, plaintiffs filed a motion for preliminary approval of the class settlement, which was granted by the court on June 14, 2023. The provisional settlement, which was subject to both preliminary and final approval of the court, consists of $117.75 million in pre-tax cash (in the aggregate for both this litigation and the In re: Lincoln National COI Litigation matter discussed immediately above) and a five-year cost of insurance rate freeze, among other terms. After certain policyholders timely opted out or otherwise excluded themselves from the settlement class with respect to certain policies, the pre-tax cash settlement fund was reduced to $109.96 million. The court granted final approval of the settlement on October 5, 2023. On December 27, 2023, the court ordered that supplemental notice of the class settlement be mailed to a small percentage of settlement class members who had not been sent the initial class notice. Those policyholders own policies representing less than 0.14% of the total of all Policy Claim Amounts (as defined in the parties’ settlement agreement). No additional opt-outs were received following the supplemental notice period. Settlement distribution payments to all class members were completed on April 8, 2024. Certain of the policyholders who did not participate in the settlement are plaintiffs in Brighton Trustees, LLC, et al. v. The Lincoln National Life Insurance Company and Ryan K. Crayne, on behalf of and as trustee for Carlton Peak Trust v. The Lincoln National Life Insurance Company discussed further below. The remaining policyholders who are not participants in the settlement may bring individual actions in the future to the extent they have not already done so. Iwanski v. First Penn-Pacific Life Insurance Company (“FPP”), No. 2:18-cv-01573 filed in the U.S. District Court for the Eastern District of Pennsylvania is a putative class action that was filed on April 13, 2018. Plaintiff alleges that defendant FPP breached the terms of his life insurance policy by deducting non-guaranteed cost of insurance charges in excess of what is permitted by the policies. Plaintiff seeks to represent all owners of universal life insurance policies issued by FPP containing non-guaranteed cost of insurance provisions that are similar to those of Plaintiff’s policy and seeks damages on their behalf. Breach of contract is the only cause of action asserted. On March 7, 2024, the parties in Glover v. Connecticut General Life Insurance Company and The Lincoln National Life Insurance Company (discussed above) entered into a settlement agreement, which is subject to court approval. The provisional settlement encompasses policies that are at issue in this case, as the Glover case is inclusive of all policies in this case, as well as in the lawsuits captioned TVPX ARS INC., as Securities Intermediary for Consolidated Wealth Management, LTD. v. The Lincoln National Life Insurance Company and Vida Longevity Fund, LP v. Lincoln Life & Annuity Company of New York (both discussed below). The Glover plaintiffs’ motion for preliminary approval of the provisional settlement was filed on March 8, 2024. The provisional settlement, which is subject to both preliminary and final approval of the court, consists of a $147.5 million pre-tax cash payment for Glover class members (inclusive of all policyholders in Iwanski , TVPX ARS INC. and Vida ). A motion has been filed to stay the proceedings in this matter pending the completion of the settlement approval process in Glover . TVPX ARS INC., as Securities Intermediary for Consolidated Wealth Management, LTD. v. The Lincoln National Life Insurance Company , filed in the U.S. District Court for the Eastern District of Pennsylvania, No. 2:18-cv-02989, is a putative class action that was filed on July 17, 2018. Plaintiff alleges that LNL charged more for non-guaranteed cost of insurance than permitted by the policy. Plaintiff seeks to represent all universal life and variable universal life policyholders who own policies issued by LNL or its predecessors containing non-guaranteed cost of insurance provisions that are similar to those of Plaintiff’s policy and seeks damages on behalf of all such policyholders. On March 7, 2024, the parties in Glover v. Connecticut General Life Insurance Company and The Lincoln National Life Insurance Company (discussed above) entered into a settlement agreement, which is subject to court approval. The provisional settlement encompasses policies that are at issue in this case, as the Glover case is inclusive of all policies in this case, as well as in the lawsuits captioned Iwanski v. First Penn-Pacific Life Insurance Company (discussed above) and Vida Longevity Fund, LP v. Lincoln Life & Annuity Company of New York (discussed below). The Glover plaintiffs’ motion for preliminary approval of the provisional settlement was filed on March 8, 2024. The provisional settlement, which is subject to both preliminary and final approval of the court, consists of a $147.5 million pre-tax cash payment for Glover class members (inclusive of all policyholders in Iwanski , TVPX ARS INC. and Vida ). A motion has been filed to stay the proceedings in this matter pending the completion of the settlement approval process in Glover . LSH Co. and Wells Fargo Bank, National Association, as securities intermediary for LSH Co. v. Lincoln National Corporation and The Lincoln National Life Insurance Company , pending in the U.S. District Court for the Eastern District of Pennsylvania, No. 2:18-cv-05529, is a civil action filed on December 21, 2018. Plaintiffs own universal life insurance policies originally issued by Jefferson-Pilot (now LNL). Among other things, plaintiffs allege that LNL and LNC breached the terms of policyholders’ contracts when LNL increased non-guaranteed cost of insurance rates in 2016 and 2017. We are vigorously defending this matter. Vida Longevity Fund, LP v. Lincoln Life & Annuity Company of New York , pending in the U.S. District Court for the Southern District of New York, No. 1:19-cv-06004, is a putative class action that was filed on June 27, 2019. Plaintiff alleges that Lincoln Life & Annuity Company of New York (“LLANY”) charged more for non-guaranteed cost of insurance than was permitted by the policies. On March 31, 2022, the court issued an order granting plaintiff’s motion for class certification and certified a class of all current or former owners of six universal life insurance products issued by LLANY that were assessed a cost of insurance charge any time on or after June 27, 2013. Plaintiff seeks damages on behalf of the class. On April 19, 2023, LLANY filed a motion for summary judgment. On March 7, 2024, the parties in Glover v. Connecticut General Life Insurance Company and The Lincoln National Life Insurance Company (discussed above) entered into a settlement agreement, which is subject to court approval. The provisional settlement encompasses policies that are at issue in this case, as the Glover case is inclusive of all policies in this case, as well as in the lawsuits captioned Iwanski v. First Penn-Pacific Life Insurance Company and TVPX ARS INC., as Securities Intermediary for Consolidated Wealth Management, LTD. v. The Lincoln National Life Insurance Company (both discussed above). The Glover plaintiffs’ motion for preliminary approval of the provisional settlement was filed on March 8, 2024. The provisional settlement, which is subject to both preliminary and final approval of the court, consists of a $147.5 million pre-tax cash payment for Glover class members (inclusive of all policyholders in Iwanski , TVPX ARS INC. and Vida ). On March 29, 2024, the court issued its summary judgment decision, granting LLANY’s motion in part and denying it in part, and entering summary judgment against twenty-two policyholders that the court determined were not economically harmed. On April 12, 2024, LLANY filed a motion to stay proceedings in this matter pending the completion of the settlement approval process in Glover; oral argument has been scheduled for May 9, 2024. Angus v. The Lincoln National Life Insurance Company , pending in the U.S. District Court for the Eastern District of Pennsylvania, No. 2:22-cv-01878, is a putative class action filed on May 13, 2022. Plaintiff alleges that defendant LNL breached the terms of her life insurance policy by deducting non-guaranteed cost of insurance charges in excess of what is permitted by the policies. Plaintiff seeks to represent all owners of universal life insurance policies issued or insured by LNL or its predecessors containing non-guaranteed cost of insurance provisions that are similar to those of plaintiff’s policy and seeks damages on their behalf. Breach of contract is the only cause of action asserted. On August 26, 2022, LNL filed a motion to dismiss. We are vigorously defending this matter. Brighton Trustees, LLC, et al. v. The Lincoln National Life Insurance Company , pending in the U.S. District Court for the Eastern District of Pennsylvania, Case No. 2:23-cv-02251, is a civil action filed on April 20, 2023. On June 12, 2023, the U.S. District Court for the Northern District of Indiana granted a motion filed by LNL to transfer the case to the U.S. District Court for the Eastern District of Pennsylvania. Plaintiffs purport to own universal life insurance policies originally issued by Jefferson-Pilot (now LNL). Among other things, plaintiffs allege that LNL breached the terms of policyholders’ contracts and converted property when it increased non-guaranteed cost of insurance rates beginning in 2016. We are vigorously defending this matter. Ryan K. Crayne, on behalf of and as trustee for Carlton Peak Trust v. The Lincoln National Life Insurance Company , pending in the U.S. District Court for the Eastern District of Pennsylvania, Case No. 2:24-cv-00053-GJP, is a civil action filed on November 17, 2023. On January 4, 2024, upon the parties’ stipulation, the U.S. District Court for the Northern District of Indiana transferred the case to the U.S. District Court for the Eastern District of Pennsylvania. Plaintiff purports to own claims regarding universal life policies originally issued by Jefferson-Pilot (now LNL). Among other things, plaintiff alleges that LNL breached the terms of policyholders’ contracts and converted property when it increased non-guaranteed cost of insurance rates beginning in 2016. We are vigorously defending this matter. Other Litigation Andrew Nitkewicz v. Lincoln Life & Annuity Company of New York, pending in the U.S. District Court for the Southern District of New York, No. 1:20-cv-06805, is a putative class action that was filed on August 24, 2020. Plaintiff Andrew Nitkewicz, as trustee of the Joan C. Lupe Trust, seeks to represent all current and former owners of universal life (including variable universal life) policies who own or owned policies issued by LLANY and its predecessors in interest that were in force at any time on or after June 27, 2013, and for which planned annual, semi-annual, or quarterly premiums were paid for any period beyond the end of the policy month of the insured’s death. Plaintiff alleges LLANY failed to refund unearned premium in violation of New York Insurance Law Section 3203(a)(2) in connection with the payment of death benefit claims for certain insurance policies. Plaintiff seeks compensatory damages and pre-judgment interest on behalf of the various classes and sub-class. On July 2, 2021, the court granted, with prejudice, LLANY’s November 2020 motion to dismiss this matter. Plaintiff filed a notice of appeal on July 28, 2021, and on September 26, 2022, the U.S. Court of Appeals for the Second Circuit reserved its decision and certified a question to the New York Court of Appeals. On October 20, 2022, the New York Court of Appeals accepted the question. On October 19, 2023, the New York Court of Appeals answered the question in LLANY’s favor and transmitted the decision to the U.S. Court of Appeals for the Second Circuit. Plaintiff sought, and was granted, supplemental briefing before the U.S. Court of Appeals for the Second Circuit with respect to certain aspects of the New York Court of Appeals’ decision. The supplemental briefing was completed January 23, 2024. We are vigorously defending this matter. Henry Morgan et al. v. Lincoln National Corporation d/b/a Lincoln Financial Group, et al , filed in the District Court of the 14 th Judicial District of Dallas County, Texas, No. DC-23-02492, is a putative class action that was filed on February 22, 2023. Plaintiffs Henry Morgan, Susan Smith, Charles Smith, Laura Seale, Terri Cogburn, Laura Baesel, Kathleen Walton, Terry Warner, and Toni Hale (“Plaintiffs”) allege on behalf of a putative class that Lincoln National Corporation d/b/a Lincoln Financial Group, LNL and LLANY (together, “Lincoln”), FMR, LLC, and Fidelity Product Services, LLC (“Fidelity”) created and marketed misleading and deceptive insurance products with attributes of investment products. The putative class comprises all individuals and entities who purchased Lincoln OptiBlend products that allocated account monies to the 1-Year Fidelity AIM Dividend Participation Account, between January 1, 2020, to December 31, 2022. Plaintiffs assert the following claims individually and on behalf of the class, (1) violations of the Texas Deceptive Trade Practices Act against Lincoln; (2) common-law fraud against Lincoln; (3) negligent misrepresentation against Lincoln and Fidelity; and (4) aiding and abetting fraud against Fidelity. Plaintiffs allege they suffered damages from “a missed investment return of approximately 5-6%” and mitigation damages. They seek actual, consequential and punitive damages, as well as pre-judgment and post-judgment interest, attorney’s fees, and litigation costs. On March 31, 2023, the Lincoln defendants filed a notice of removal removing the action from the 14 th Judicial District of Dallas County, Texas, to the United States District Court for the Northern District of Texas, Dallas Division. On May 8, 2023, the Lincoln defendants and the Fidelity defendants filed motions to dismiss, which remain pending. We are vigorously defending this matter. Donald C. Meade, et al v. Lincoln National Corporation, Ellen Cooper, Dennis Glass, Randal Freitag (“Defendants”) , No. 2:24-cv-01704, pending in the U.S. District Court for the Eastern District of Pennsylvania, is a putative class action that was filed on April 23, 2024. Plaintiff Donald C. Meade seeks to represent persons and entities that purchased or otherwise acquired Lincoln National securities between November 4, 2020, and November 2, 2022, inclusive. Plaintiff alleges claims under Section 10(b) and Section 20(a) of the Securities Exchange Act of 1934, and under SEC Rule 10b-5. Plaintiff alleges that, throughout the class period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, plaintiff alleges that Defendants failed to disclose to investors: (i) that the Company was experiencing a decline in its VUL business; (ii) that, as a result, the goodwill associated with the life insurance business was overstated; (iii) that, as a result, the Company’s policy lapse assumptions were outdated; (iv) that, as a result, the Company’s reserves were overstated; (v) that, as a result, the Company’s reported financial results and financial statements were misstated; and (vi) that, as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. Plaintiff alleges that he and other putative class members thereby suffered loss and damage. We are vigorously defending this matter.

Shares and Stockholders_ Equity

Shares and Stockholders’ Equity	3 Months Ended
	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Shares and Stockholders' Equity	Shares and Stockholders’ Equity Preferred Shares Preferred stock authorized, issued and outstanding (number of shares) was as follows: As of March 31, 2024 As of December 31, 2023 Shares Authorized Shares Issued Shares Outstanding Shares Authorized Shares Issued Shares Outstanding 9.250% Fixed Rate Reset Non-Cumulative Preferred Stock, Series C 20,000 20,000 20,000 20,000 20,000 20,000 9.000% Non-Cumulative Preferred Stock, Series D 20,000 20,000 20,000 20,000 20,000 20,000 Not designated 9,960,000 – – 9,960,000 – – Total preferred shares 10,000,000 40,000 40,000 10,000,000 40,000 40,000 The per share and aggregate dividends declared for preferred stock by series (in millions except per share data) was as follows: For the Three Months Ended March 31, 2024 2023 Dividend Aggregate Dividend Aggregate Series Per Share Dividend Per Share Dividend Series C $ 1,156.25 $ 23 $ 635.94 $ 13 Series D 562.50 11 618.75 12 Total $ 1,718.75 $ 34 $ 1,254.69 $ 25 Common Shares The changes in our common stock (number of shares) were as follows: For the Three 2024 2023 Common Stock Balance as of beginning-of-year 169,666,137 169,220,511 Stock compensation/issued for benefit 350,750 317,248 Balance as of end-of-period 170,016,887 169,537,759 Our common stock is without par value. Earnings Per Share The calculation of earnings per share (“EPS”) was as follows (in millions except per share data): For the Three 2024 2023 Net income (loss) available to common stockholders – basic $ 1,187 $ (906) Net income (loss) available to common stockholders – diluted $ 1,191 $ (909) Weighted-average shares, as used in basic calculation 170,049,994 169,357,846 Incremental common shares from assumed exercise or issuance of stock-based incentive compensation awards 1,096,272 573,348 Average deferred compensation shares 688,480 553,966 Weighted-average shares, as used in diluted calculation (1) 171,834,746 170,485,160 Net income (loss) per share: Basic $ 6.98 $ (5.35) Diluted 6.93 (5.37) (1) Due to reporting a net loss for the three months ended March 31, 2023, basic shares were used in the diluted EPS calculation for this period as the use of diluted shares would have resulted in a lower loss per share. In the event the average market price of LNC common stock exceeds the issue price of stock options and the options have a dilutive effect to our EPS, such options will be shown in the table above. We have participants in our deferred compensation plans who selected LNC stock as the measure for the investment return attributable to all or a portion of their deferral amounts. This obligation is settled in either cash or LNC stock pursuant to the applicable plan document. We exclude deferred units of LNC stock that are antidilutive from our diluted EPS calculation. The mark-to-market adjustment of these deferred units excluded from our diluted EPS calculation was $(3) million and $3 million for the three months ended March 31, 2024 and 2023, respectively. AOCI The following summarizes the components and changes in AOCI (in millions): For the Three 2024 2023 Unrealized Gain (Loss) on Fixed Maturity AFS Securities and Certain Other Investments Balance as of beginning-of-year $ (5,188) $ (8,916) Unrealized holding gains (losses) arising during the period (1,140) 2,357 Change in foreign currency exchange rate adjustment (103) 76 Change in future contract benefits and policyholder account balances, net of reinsurance 891 (260) Income tax benefit (expense) 71 (465) Less: Reclassification adjustment for gains (losses) included in net income (loss) (55) (39) Income tax benefit (expense) 12 8 Balance as of end-of-period $ (5,426) $ (7,177) Unrealized Gain (Loss) on Derivative Instruments Balance as of beginning-of-year $ 375 $ 388 Unrealized holding gains (losses) arising during the period 64 134 Change in foreign currency exchange rate adjustment 101 (67) Income tax benefit (expense) (35) (15) Less: Reclassification adjustment for gains (losses) included in net income (loss) 24 22 Income tax benefit (expense) (5) (5) Balance as of end-of-period $ 486 $ 423 Market Risk Benefit Non-Performance Risk Gain (Loss) Balance as of beginning-of-year $ 1,070 $ 1,741 Adjustment arising during the period (590) 1,306 Income tax benefit (expense) 126 (281) Balance as of end-of-period $ 606 $ 2,766 Policyholder Liability Discount Rate Remeasurement Gain (Loss) Balance as of beginning-of-year $ 587 $ 747 Adjustment arising during the period 147 (258) Income tax benefit (expense) (31) 56 Balance as of end-of-period $ 703 $ 545 Foreign Currency Translation Adjustment Balance as of beginning-of-year $ (26) $ (34) Foreign currency translation adjustment arising during the period (1) 3 Balance as of end-of-period $ (27) $ (31) Funded Status of Employee Benefit Plans Balance as of beginning-of-year $ (294) $ (278) Adjustment arising during the period 1 (2) Balance as of end-of-period $ (293) $ (280) The following summarizes the reclassifications out of AOCI (in millions) and the associated line item in the Consolidated Statements of Comprehensive Income (Loss): For the Three 2024 2023 Unrealized Gain (Loss) on Fixed Maturity AFS Securities and Certain Other Investments Reclassification $ (54) $ (39) Realized gain (loss) Associated change in future contract benefits (1) – Benefits Reclassification before income tax benefit (expense) (55) (39) Income (loss) before taxes Income tax benefit (expense) 12 8 Federal income tax expense (benefit) Reclassification, net of income tax $ (43) $ (31) Net income (loss) Unrealized Gain (Loss) on Derivative Instruments Interest rate contracts 9 6 Interest and debt expense Foreign currency contracts 15 14 Net investment income Foreign currency contracts – 2 Realized gain (loss) Reclassifications before income tax benefit (expense) 24 22 Income (loss) before taxes Income tax benefit (expense) (5) (5) Federal income tax expense (benefit) Reclassifications, net of income tax $ 19 $ 17 Net income (loss)

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information We provide products and services and report results through our Annuities, Life Insurance, Group Protection and Retirement Plan Services segments. We also have Other Operations, which includes the financial data for operations that are not directly related to the business segments. Our reporting segments reflect the manner by which our CODMs view and manage the business. A discussion of these segments and Other Operations is found in Note 16 to the Consolidated Financial Statements in our 2023 Form 10-K. Segment operating revenues and income (loss) from operations are internal measures used by our management and Board of Directors to evaluate and assess the results of our segments. Income (loss) from operations is GAAP net income excluding the after-tax effects of the following items, as applicable: • Items related to annuity product features, which include changes in MRBs, including gains and losses and benefit payments, changes in the fair value of the derivative instruments we hold to hedge GLB and GDB riders, net of fee income allocated to support the cost of hedging them, and changes in the fair value of the embedded derivative liabilities of our indexed annuity contracts and the associated index options we hold to hedge them, including collateral expense associated with the hedge program (collectively, “net annuity product features”); • Items related to life insurance product features, which include changes in the fair value of derivatives we hold as part of VUL hedging, changes in reserves resulting from benefit ratio unlocking associated with the impact of capital markets, and changes in the fair value of the embedded derivative liabilities of our IUL contracts and the associated index options we hold to hedge them (collectively, “net life insurance product features”); • Credit loss-related adjustments on fixed maturity AFS securities, mortgage loans on real estate and reinsurance-related assets (“credit loss-related adjustments”); • Changes in the fair value of equity securities, certain derivatives, certain other investments and realized gains (losses) on sales, disposals and impairments of financial assets (collectively, “investment gains (losses)”); • Changes in the fair value of reinsurance-related embedded derivatives, trading securities and mortgage loans on real estate electing the fair value option (“changes in the fair value of reinsurance-related embedded derivatives, trading securities and certain mortgage loans”); • Income (loss) from the initial adoption of new accounting standards, regulations and policy changes; • Income (loss) from reserve changes, net of related amortization, on business sold through reinsurance; • Transaction and integration costs related to mergers and acquisitions including the acquisition or divestiture, through reinsurance or other means, of businesses or blocks of business; • Gains (losses) on modification or early extinguishment of debt; • Losses from the impairment of intangible assets and gains (losses) on other non-financial assets; and • Income (loss) from discontinued operations. Operating revenues represent GAAP revenues excluding the pre-tax effects of the following items, as applicable: • Changes in the fair value of the derivative instruments we hold to hedge GLB and GDB riders, net of fee income allocated to support the cost of hedging them, and changes in the fair value of the embedded derivative liabilities of our indexed annuity and IUL contracts and the associated index options we hold to hedge them (collectively, “revenue adjustments from annuity and life insurance product features”); • Credit loss-related adjustments; • Investment gains (losses); • Changes in the fair value of reinsurance-related embedded derivatives, trading securities and certain mortgage loans; • Revenue adjustments from the initial adoption of new accounting standards; and • Amortization of deferred gains arising from reserve changes on business sold through reinsurance. We use our prevailing corporate federal income tax rate of 21%, where applicable, net of the impacts related to dividends received deduction and foreign tax credits and any other permanent differences for events recognized differently in our financial statements and federal income tax returns. The tables below reconcile our segment measures of performance to the GAAP measures presented in the Consolidated Statements of Comprehensive Income (Loss) (in millions): For the Three 2024 2023 Revenues Operating revenues: Annuities $ 1,269 $ 1,141 Life Insurance 1,541 1,757 Group Protection 1,425 1,388 Retirement Plan Services 322 328 Other Operations 27 43 Revenue adjustments from annuity and life insurance product features (580) (773) Credit loss-related adjustments (1) (22) Investment gains (losses) (81) (57) Changes in the fair value of reinsurance-related embedded derivatives, trading securities and certain mortgage loans (1) 194 9 Total revenues $ 4,116 $ 3,814 For the Three 2024 2023 Net Income (Loss) Income (loss) from operations: Annuities $ 259 $ 274 Life Insurance (35) (13) Group Protection 80 71 Retirement Plan Services 36 43 Other Operations (235) (87) Net annuity product features, after-tax 1,141 (1,018) Net life insurance product features, after-tax (103) (95) Credit loss-related adjustments, after-tax (1) (18) Investment gains (losses), after-tax (65) (45) Changes in the fair value of reinsurance-related embedded derivatives, trading securities and certain mortgage loans, after-tax (1) 153 7 Transaction and integration costs related to mergers, acquisitions and divestitures, after-tax (2) (8) – Net income (loss) $ 1,222 $ (881) (1) Includes primarily changes in the fair value of the embedded derivative related to the fourth quarter 2023 reinsurance transaction. For more information, see Note 7 (2) Includes costs pertaining to the planned sale of our wealth management business and the fourth quarter 2023 reinsurance transaction. For more information, see Note 1 7 Other segment information (in millions) was as follows: As of As of 2024 2023 Assets Annuities $ 194,359 $ 185,599 Life Insurance 111,102 108,932 Group Protection 9,759 9,714 Retirement Plan Services 47,728 46,793 Other Operations 20,433 21,375 Total assets $ 383,381 $ 372,413

Realized Gain (Loss)

Realized Gain (Loss)	3 Months Ended
	Mar. 31, 2024
Realized Gain (Loss) [Abstract]
Realized Gain (Loss)	Realized Gain (Loss) Realized gain (loss) on the Consolidated Statements of Comprehensive Income (Loss) includes realized gains and losses from the sale of investments, write-downs for impairments of investments and changes in the allowance for credit losses for financial assets, changes in fair value for mortgage loans on real estate accounted for under the fair value option, changes in fair value of equity securities, VUL derivative and embedded derivative gains and losses, gains and losses on the sale of subsidiaries and businesses and net gains and losses on reinsurance-related embedded derivatives and trading securities. Realized gains and losses on the sale of investments are determined using the specific identification method. Realized gain (loss) is also net of allocations of investment gains and losses to certain policyholders, certain funds withheld on reinsurance arrangements and certain modified coinsurance arrangements for which we have a contractual obligation. Details underlying realized gain (loss) (in millions) were as follows: For the Three 2024 2023 Fixed maturity AFS securities: Gross gains $ 7 $ 26 Gross losses (61) (65) Credit loss benefit (expense) (1) (2) (17) Realized gain (loss) on equity securities (2) 11 (14) Credit loss benefit (expense) on mortgage loans on real estate – (4) Credit loss benefit (expense) on reinsurance-related assets 1 (1) Realized gain (loss) on the mark-to-market on certain instruments (3)(4) 12 (111) Indexed product derivative results (5) 145 (153) Derivative results (6) (548) (477) Other realized gain (loss) 1 (12) Total realized gain (loss) $ (434) $ (828) (1) Includes changes in the allowance for credit losses as well as direct write-downs to amortized cost as a result of negative credit events. (2) Includes mark-to-market adjustments on equity securities still held of $11 million and $(14) million for the three months ended March 31, 2024 and 2023, respectively. (3) Represents changes in the fair values of derivatives we hold as part of VUL hedging, reinsurance-related embedded derivatives and trading securities. (4) Includes gains and losses from fair value changes on mortgage loans on real estate accounted for under the fair value option of less than $1 million and $2 million for the three months ended March 31, 2024 and 2023, respectively. (5) Represents the change in fair value of the index options that we hold and the change in the fair value of the embedded derivative liabilities of our indexed annuity and IUL contracts, and the associated index options to hedge policyholder index allocations applicable to future reset periods for our indexed annuity products. (6)

Federal Income Taxes

Federal Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Federal Income Taxes	Federal Income Taxes The effective tax rate is the ratio of tax expense (benefit) over pre-tax income (loss). The effective tax rate was 20% and 25% for the three months ended March 31, 2024 and 2023, respectively. The effective tax rate on pre-tax income is typically lower than the prevailing corporate federal income tax rate of 21% due to benefits from preferential tax items including the separate account dividends-received deduction and tax credits. For the three months ended March 31, 2024, the effective tax rate differed from the prevailing corporate federal income tax rate due primarily to the effects of preferential tax items.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 1,222	$ (881)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements are prepared in accordance with United States of America generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions for the Securities and Exchange Commission (“SEC”) Quarterly Report on Form 10-Q, including Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. The information contained in the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2023 (“2023 Form 10-K”), should be read in connection with the reading of these interim unaudited consolidated financial statements.
Segment Reporting	We present disaggregated disclosures in the Notes below for long-duration insurance balances, applying the level of aggregation by reportable segment as follows: Reportable Segment Level of Aggregation Annuities Variable Annuities Fixed Annuities Payout Annuities Life Insurance Traditional Life UL and Other Group Protection Group Protection Retirement Plan Services Retirement Plan Services The variable annuities level of aggregation includes RILA products, which are indexed variable annuities. The fixed annuities level of aggregation represents deferred fixed annuities. We have excluded amounts reported in Other Operations from our disaggregated disclosures that are attributable to the indemnity reinsurance agreements with Protective Life Insurance Company (“Protective”) and Swiss Re Life & Health America, Inc (“Swiss Re”) as these contracts are fully reinsured, run-off institutional pension business in the form of group annuity and the results of certain disability income business and are not reflected in the results of the reportable segments listed above.
New Accounting Standards	Adoption of New Accounting Standards In the current period, we did not adopt any new Accounting Standards Updates (“ASUs”) issued by the Financial Accounting Standards Board that were material in presentation or amount. Future Adoption of New Accounting Standards The following table provides a description of future adoptions of new ASUs that may have an impact on our consolidated financial statements when adopted. ASUs not listed below were assessed and determined to be either not applicable or insignificant in presentation or amount. Standard Description Effective Date Effect on Financial Statements or Other Significant Matters ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures This ASU aims to enhance reportable segment disclosure requirements. It requires that a public entity disclose significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), disclose and describe other segment items and report additional measures of a segment’s profit or loss if used by the CODM. January 1, 2024 (Annual Filings) and January 1, 2025 (Quarterly Filings) We are evaluating the impact of this ASU to our consolidated financial statements. ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures This ASU establishes new income tax disclosure requirements, along with adjusting certain existing requirements. It specifically requires expanded and disaggregated disclosures around the tax rate reconciliation. January 1, 2025 We are evaluating the impact of this ASU to our consolidated financial statements.

Nature of Operations and Basi_3

Nature of Operations and Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Segment Reporting Information, by Segment	We present disaggregated disclosures in the Notes below for long-duration insurance balances, applying the level of aggregation by reportable segment as follows: Reportable Segment Level of Aggregation Annuities Variable Annuities Fixed Annuities Payout Annuities Life Insurance Traditional Life UL and Other Group Protection Group Protection Retirement Plan Services Retirement Plan Services

New Accounting Standards (Table

New Accounting Standards (Tables)	3 Months Ended
	Mar. 31, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Standards	The following table provides a description of future adoptions of new ASUs that may have an impact on our consolidated financial statements when adopted. ASUs not listed below were assessed and determined to be either not applicable or insignificant in presentation or amount. Standard Description Effective Date Effect on Financial Statements or Other Significant Matters ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures This ASU aims to enhance reportable segment disclosure requirements. It requires that a public entity disclose significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), disclose and describe other segment items and report additional measures of a segment’s profit or loss if used by the CODM. January 1, 2024 (Annual Filings) and January 1, 2025 (Quarterly Filings) We are evaluating the impact of this ASU to our consolidated financial statements. ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures This ASU establishes new income tax disclosure requirements, along with adjusting certain existing requirements. It specifically requires expanded and disaggregated disclosures around the tax rate reconciliation. January 1, 2025 We are evaluating the impact of this ASU to our consolidated financial statements.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2024
Investments [Abstract]
Schedule of Available-for-Sale Securities Reconciliation	The amortized cost, gross unrealized gains and losses, allowance for credit losses and fair value of fixed maturity available-for-sale (“AFS”) securities (in millions) were as follows: As of March 31, 2024 Amortized Cost Gross Unrealized Allowance for Credit Losses Fair Value Gains Losses Fixed maturity AFS securities: Corporate bonds $ 76,968 $ 640 $ 9,065 $ 10 $ 68,533 U.S. government bonds 422 4 35 – 391 State and municipal bonds 3,097 46 400 – 2,743 Foreign government bonds 304 12 53 – 263 RMBS 1,962 20 217 6 1,759 CMBS 1,658 4 178 – 1,484 ABS 12,903 71 621 4 12,349 Hybrid and redeemable preferred securities 232 23 12 1 242 Total fixed maturity AFS securities $ 97,546 $ 820 $ 10,581 $ 21 $ 87,764 As of December 31, 2023 Amortized Cost Gross Unrealized Allowance for Credit Losses Fair Value Gains Losses Fixed maturity AFS securities: Corporate bonds $ 77,085 $ 852 $ 8,272 $ 8 $ 69,657 U.S. government bonds 416 6 29 – 393 State and municipal bonds 3,106 101 417 – 2,790 Foreign government bonds 314 16 47 – 283 RMBS 1,948 28 197 6 1,773 CMBS 1,622 5 203 – 1,424 ABS 12,698 62 585 4 12,171 Hybrid and redeemable preferred securities 244 21 17 1 247 Total fixed maturity AFS securities $ 97,433 $ 1,091 $ 9,767 $ 19 $ 88,738
Investments Classified by Contractual Maturity Date	The amortized cost and fair value of fixed maturity AFS securities by contractual maturities (in millions) as of March 31, 2024, were as follows: Amortized Cost Fair Value Due in one year or less $ 4,615 $ 4,574 Due after one year through five years 17,551 16,871 Due after five years through ten years 14,424 13,180 Due after ten years 44,433 37,547 Subtotal 81,023 72,172 Structured securities (RMBS, CMBS, ABS) 16,523 15,592 Total fixed maturity AFS securities $ 97,546 $ 87,764
Schedule of Available-for-Sale Securities Unrealized Loss Position	The fair value and gross unrealized losses of fixed maturity AFS securities (dollars in millions) for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows: As of March 31, 2024 Less Than or Equal Greater Than Twelve Months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (1) Fixed maturity AFS securities: Corporate bonds $ 23,895 $ 4,432 $ 33,636 $ 4,633 $ 57,531 $ 9,065 U.S. government bonds 102 9 188 26 290 35 State and municipal bonds 894 222 895 178 1,789 400 Foreign government bonds 107 30 66 23 173 53 RMBS 620 76 907 141 1,527 217 CMBS 677 70 621 108 1,298 178 ABS 1,998 91 6,118 530 8,116 621 Hybrid and redeemable preferred securities 18 3 102 9 120 12 Total fixed maturity AFS securities $ 28,311 $ 4,933 $ 42,533 $ 5,648 $ 70,844 $ 10,581 Total number of fixed maturity AFS securities in an unrealized loss position 7,485 As of December 31, 2023 Less Than or Equal Greater Than Twelve Months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (1) Fixed maturity AFS securities: Corporate bonds $ 14,005 $ 3,270 $ 34,595 $ 5,002 $ 48,600 $ 8,272 U.S. government bonds 65 6 195 23 260 29 State and municipal bonds 371 72 874 345 1,245 417 Foreign government bonds 111 31 57 16 168 47 RMBS 360 20 886 177 1,246 197 CMBS 583 56 589 147 1,172 203 ABS 1,900 68 7,217 517 9,117 585 Hybrid and redeemable preferred securities 32 3 95 14 127 17 Total fixed maturity AFS securities $ 17,427 $ 3,526 $ 44,508 $ 6,241 $ 61,935 $ 9,767 Total number of fixed maturity AFS securities in an unrealized loss position 7,605 (1) As of March 31, 2024, and December 31, 2023, we recognized $12 million and $8 million of gross unrealized losses, respectively, in other comprehensive income (loss) (“OCI”) for fixed maturity AFS securities for which an allowance for credit losses has been recorded. The fair value, gross unrealized losses (in millions) and number of fixed maturity AFS securities where the fair value had declined and remained below amortized cost by greater than 20% were as follows: As of March 31, 2024 Fair Value Gross Unrealized Losses Number of Securities (1) Less than six months $ 3,759 $ 1,318 697 Six months or greater, but less than nine months 423 158 131 Nine months or greater, but less than twelve months 275 86 68 Twelve months or greater 3,709 1,517 740 Total $ 8,166 $ 3,079 1,636 As of December 31, 2023 Fair Value Gross Unrealized Losses Number of Securities (1) Less than six months $ 2,492 $ 927 533 Six months or greater, but less than nine months 343 96 79 Nine months or greater, but less than twelve months 336 109 90 Twelve months or greater 4,094 2,922 997 Total $ 7,265 $ 4,054 1,699 (1)
Debt Securities, Available-for-Sale	Changes in the allowance for credit losses on fixed maturity AFS securities (in millions), aggregated by investment category, were as follows: For the Three Months Ended March 31, 2024 Corporate Bonds RMBS Other Total Balance as of beginning-of-year $ 8 $ 6 $ 5 $ 19 Additions from purchases of PCD debt securities (1) – – – – Additions for securities for which credit losses were not previously recognized 1 – – 1 Additions (reductions) for securities for which credit losses were previously recognized 2 – – 2 Reductions for disposed securities (1) – – (1) Balance as of end-of-period (2) $ 10 $ 6 $ 5 $ 21 For the Three Months Ended March 31, 2023 Corporate Bonds RMBS Other Total Balance as of beginning-of-year $ 9 $ 7 $ 6 $ 22 Additions from purchases of PCD debt securities (1) – – – – Additions for securities for which credit losses were not previously recognized 19 – – 19 Additions (reductions) for securities for which credit losses were previously recognized – (1) – (1) Reductions for disposed securities (1) – – (1) Balance as of end-of-period (2) $ 27 $ 6 $ 6 $ 39 (1) Represents purchased credit-deteriorated (“PCD”) fixed maturity AFS securities. (2) As of March 31, 2024 and 2023, accrued investment income on fixed maturity AFS securities totaled $943 million and $1.1 billion, respectively, and was excluded from the estimate of credit losses.
Composition of Current and Past Due Mortgage Loans on Real Estate	The following provides the current and past due composition of our mortgage loans on real estate (in millions): As of March 31, 2024 As of December 31, 2023 Commercial Residential Total Commercial Residential Total Current $ 17,372 $ 1,833 $ 19,205 $ 17,256 $ 1,665 $ 18,921 30 to 59 days past due 4 37 41 61 28 89 60 to 89 days past due 2 10 12 – 9 9 90 or more days past due 60 59 119 – 60 60 Allowance for credit losses (84) (31) (115) (86) (28) (114) Unamortized premium (discount) (7) 48 41 (7) 43 36 Mark-to-market gains (losses) (1) (38) 1 (37) (37) (1) (38) Total carrying value $ 17,309 $ 1,957 $ 19,266 $ 17,187 $ 1,776 $ 18,963 (1) Represents the mark-to-market on certain mortgage loans on real estate for which we have elected the fair value option. See Note
Amortized Cost of Mortgage Loans on Real Estate on Nonaccrual Status	The amortized cost of mortgage loans on real estate on nonaccrual status (in millions) was as follows: As of March 31, 2024 As of December 31, 2023 Nonaccrual Nonaccrual Nonaccrual Nonaccrual Commercial mortgage loans on real estate $ 60 $ – $ – $ – Residential mortgage loans on real estate – 61 – 62 Total $ 60 $ 61 $ – $ 62
Financing Receivable Credit Quality Indicators	The amortized cost of commercial mortgage loans on real estate (dollars in millions) by year of origination and credit quality indicator was as follows: As of March 31, 2024 Less than 65% Debt-Service Coverage Ratio 65% to 75% Debt-Service Coverage Ratio Greater than 75% Debt-Service Coverage Ratio Total Origination Year 2024 $ 333 2.64 $ 18 1.31 $ – – $ 351 2023 1,373 1.90 50 1.35 – – 1,423 2022 1,735 2.05 104 1.59 5 1.33 1,844 2021 2,335 3.34 53 1.54 – – 2,388 2020 1,190 3.22 6 1.43 – – 1,196 2019 and prior 10,079 2.57 142 1.59 8 1.30 10,229 Total $ 17,045 $ 373 $ 13 $ 17,431 As of December 31, 2023 Less than 65% Debt-Service Coverage Ratio 65% to 75% Debt-Service Coverage Ratio Greater than 75% Debt-Service Coverage Ratio Total Origination Year 2023 $ 1,368 1.90 $ 54 1.38 $ – – $ 1,422 2022 1,710 2.06 140 1.54 – – 1,850 2021 2,335 3.34 61 1.55 – – 2,396 2020 1,214 3.24 11 1.38 – – 1,225 2019 2,446 2.40 80 1.56 10 2.33 2,536 2018 and prior 7,789 2.39 78 1.60 14 0.87 7,881 Total $ 16,862 $ 424 $ 24 $ 17,310 As of March 31, 2024 Performing Nonperforming Total Origination Year 2024 $ 54 $ – $ 54 2023 665 5 670 2022 525 23 548 2021 459 16 475 2020 76 2 78 2019 and prior 147 15 162 Total $ 1,926 $ 61 $ 1,987 As of December 31, 2023 Performing Nonperforming Total Origination Year 2023 $ 515 $ 2 $ 517 2022 533 22 555 2021 465 18 483 2020 78 3 81 2019 99 13 112 2018 and prior 53 4 57 Total $ 1,743 $ 62 $ 1,805
Changes in Allowance for Credit Losses on Mortgage Loans on Real Estate	Changes in the allowance for credit losses on mortgage loans on real estate (in millions) were as follows: For the Three Months Ended Commercial Residential Total Balance as of beginning-of-year $ 86 $ 28 $ 114 Additions (reductions) from provision for credit loss expense (1) (2) 3 1 Additions from purchases of PCD mortgage loans on real estate – – – Balance as of end-of-period (2) $ 84 $ 31 $ 115 For the Three Months Ended Commercial Residential Total Balance as of beginning-of-year $ 84 $ 15 $ 99 Additions (reductions) from provision for credit loss expense (1) (1) 5 4 Additions from purchases of PCD mortgage loans on real estate – – – Balance as of end-of-period (2) $ 83 $ 20 $ 103 (1) We recognized $1 million of credit loss benefit (expense) related to unfunded commitments for mortgage loans on real estate for the three months ended March 31, 2024. We did not recognize any credit loss benefit (expense) related to unfunded commitments for mortgage loans on real estate for the three months ended March 31, 2023. (2) Accrued investment income on mortgage loans on real estate totaled $69 million and $52 million as of March 31, 2024 and 2023, respectively, and was excluded from the estimate of credit losses.
Credit Loss Expense Incurred	Details underlying credit loss benefit (expense) incurred as a result of impairments that were recognized in net income (loss) and included in realized gain (loss) on fixed maturity AFS securities (in millions) were as follows: For the Three 2024 2023 Credit Loss Benefit (Expense) Fixed maturity AFS securities: Corporate bonds $ (2) $ (18) RMBS – 1 Total credit loss benefit (expense) $ (2) $ (17)
Payables for Collateral on Investments	The carrying value of the payables for collateral on investments included on the Consolidated Balance Sheets and the fair value of the related investments or collateral (in millions) consisted of the following: As of March 31, 2024 As of December 31, 2023 Carrying Value Fair Value Carrying Value Fair Value Collateral payable for derivative investments (1) $ 6,934 $ 6,934 $ 5,250 $ 5,250 Securities pledged under securities lending agreements (2) 283 274 205 197 Investments pledged for FHLBI (3) 2,900 4,032 2,650 3,603 Total payables for collateral on investments $ 10,117 $ 11,240 $ 8,105 $ 9,050 (1) We obtain collateral based upon contractual provisions with our counterparties. These agreements take into consideration the counterparties’ credit rating as compared to ours, the fair value of the derivative investments and specified thresholds that if exceeded result in the receipt of cash that is typically invested in cash and invested cash or fixed maturity AFS securities. This also includes interest payable on collateral. See Note 5 (2) Our pledged securities under securities lending agreements are included in fixed maturity AFS securities on the Consolidated Balance Sheets. We generally obtain collateral in an amount equal to 102% and 105% of the fair value of the domestic and foreign securities, respectively. We value collateral daily and obtain additional collateral when deemed appropriate. The cash received in our securities lending program is typically invested in cash and invested cash or fixed maturity AFS securities. (3) Our pledged investments for Federal Home Loan Bank (“FHLB”) of Indianapolis (“FHLBI”) are included in fixed maturity AFS securities and mortgage loans on real estate on the Consolidated Balance Sheets. The collateral requirements are generally 105% to 115% of the fair value for fixed maturity AFS securities and 155% to 175% of the fair value for mortgage loans on real estate. The cash received in these transactions is primarily invested in cash and invested cash or fixed maturity AFS securities.
Schedule of Increase (Decrease) in Payables for Collateral on Investments	Increase (decrease) in payables for collateral on investments (in millions) consisted of the following: For the Three 2024 2023 Collateral payable for derivative investments $ 1,684 $ 268 Securities pledged under securities lending agreements 78 (2) Investments pledged for FHLBI 250 (175) Total increase (decrease) in payables for collateral on investments $ 2,012 $ 91
Schedule of Securities Pledged by Contractual Maturity	The remaining contractual maturities of securities lending transactions accounted for as secured borrowings (in millions) were as follows: As of March 31, 2024 Overnight and Continuous Up to 30 Days 30-90 Days Greater Than 90 Days Total Securities Lending Corporate bonds $ 276 $ – $ – $ – $ 276 Foreign government bonds 1 – – – 1 Equity securities 6 – – – 6 Total gross secured borrowings $ 283 $ – $ – $ – $ 283 As of December 31, 2023 Overnight and Continuous Up to 30 Days 30-90 Days Greater Than 90 Days Total Securities Lending Corporate bonds $ 202 $ – $ – $ – $ 202 Equity securities 3 – – – 3 Total gross secured borrowings $ 205 $ – $ – $ – $ 205

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2024
Variable Interest Entities [Abstract]
Schedule of Variable Interest Entities	Asset information (dollars in millions) for the consolidated variable interest entities (“VIEs”) included on the Consolidated Balance Sheets was as follows: As of March 31, 2024 As of December 31, 2023 Number of Instruments Notional Amounts Carrying Value Number of Instruments Notional Amounts Carrying Value Assets Total return swap 1 $ 529 $ – 1 $ 544 $ –

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	Outstanding derivative instruments with off-balance-sheet risks (in millions) were as follows: As of March 31, 2024 As of December 31, 2023 Notional Amounts Fair Value Notional Amounts Fair Value Asset Liability Asset Liability Qualifying Hedges Cash flow hedges: Interest rate contracts (1) $ 1,583 $ 242 $ 28 $ 1,698 $ 181 $ 47 Foreign currency contracts (1) 4,722 467 60 4,662 423 78 Total cash flow hedges 6,305 709 88 6,360 604 125 Fair value hedges: Interest rate contracts (1) 1,076 2 32 1,081 1 39 Foreign currency contracts (1) 25 – – 25 – 1 Total fair value hedges 1,101 2 32 1,106 1 40 Non-Qualifying Hedges Interest rate contracts (1) 72,592 771 1,027 90,829 636 979 Foreign currency contracts (1) 370 13 3 306 11 6 Equity market contracts (1) 231,313 13,816 5,953 225,626 10,244 4,227 Credit contracts (1) 39 – – 91 – – Embedded derivatives: Reinsurance-related (2) – – 355 – – 552 RILA, fixed indexed annuity and IUL contracts (3) – 973 10,896 – 940 9,077 Total derivative instruments $ 311,720 $ 16,284 $ 18,354 $ 324,318 $ 12,436 $ 15,006 (1) These asset and liability balances are presented on a gross basis. Amounts are reported in derivative investments and other liabilities on the Consolidated Balance Sheets after the evaluation for right of offset subject to master netting agreements. (2) Reported in funds withheld reinsurance liabilities on the Consolidated Balance Sheets. (3) Reported in policyholder account balances and deposit assets on the Consolidated Balance Sheets.
Schedule of Derivative Instruments	The maturity of the notional amounts of derivative instruments (in millions) was as follows: Remaining Life as of March 31, 2024 Less Than 1 – 5 6 - 10 11 - 30 Over 30 Total Interest rate contracts (1) $ 9,795 $ 19,247 $ 22,649 $ 22,347 $ 1,213 $ 75,251 Foreign currency contracts (2) 356 1,007 1,725 1,987 42 5,117 Equity market contracts 186,027 34,228 7,262 8 3,788 231,313 Credit contracts – 39 – – – 39 Total derivative instruments with notional amounts $ 196,178 $ 54,521 $ 31,636 $ 24,342 $ 5,043 $ 311,720 (1) As of March 31, 2024, the latest maturity date for which we were hedging our exposure to the variability in future cash flows for these instruments was April 20, 2067. (2) As of March 31, 2024, the latest maturity date for which we were hedging our exposure to the variability in future cash flows for these instruments was June 16, 2061.
Cumulative Basis Adjustments for Fair Value Hedges	The following amounts (in millions) were recorded on the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges: Amortized Cost of the Hedged Assets / (Liabilities) Cumulative Fair Value Hedging Adjustment Included in the Amortized Cost of the Hedged Assets / (Liabilities) As of As of December 31, 2023 As of As of December 31, 2023 Line Item in the Consolidated Balance Sheets in which the Hedged Item is Included Fixed maturity AFS securities, at fair value $ 510 $ 534 $ 21 $ 39 Long-term debt (1) (686) (703) 189 172 (1)
Change in Our Unrealized Gain on Derivative Instruments in AOCI	The change in our unrealized gain (loss) on derivative instruments within accumulated other comprehensive income (loss) (“AOCI”) (in millions) was as follows: For the Three 2024 2023 Unrealized Gain (Loss) on Derivative Instruments Balance as of beginning-of-year $ 375 $ 388 Other comprehensive income (loss): Unrealized holding gains (losses) arising during the period: Cash flow hedges: Interest rate contracts 89 58 Foreign currency contracts (25) 76 Change in foreign currency exchange rate adjustment 101 (67) Income tax benefit (expense) (35) (15) Less: Reclassification adjustment for gains (losses) included in net income (loss): Cash flow hedges: Foreign currency contracts (1) 15 14 Interest rate contracts (2) 9 6 Foreign currency contracts (3) – 2 Income tax benefit (expense) (5) (5) Balance as of end-of-period $ 486 $ 423 (1) The OCI offset is reported within net investment income on the Consolidated Statements of Comprehensive Income (Loss). (2) The OCI offset is reported within interest and debt expense on the Consolidated Statements of Comprehensive Income (Loss). (3) The OCI offset is reported within realized gain (loss) on the Consolidated Statements of Comprehensive Income (Loss).
Effects of Qualifying and Non-Qualifying Hedges	The effects of qualifying and non-qualifying hedges (in millions) on the Consolidated Statements of Comprehensive Income (Loss) were as follows: Gain (Loss) Recognized in Income 2024 2023 Realized Gain (Loss) Net Investment Income Interest and Debt Expense Realized Gain (Loss) Net Investment Income Interest and Debt Expense Total Line Items in which the Effects of Fair Value or Cash Flow Hedges are Recorded $ (434) $ 1,346 $ 81 $ (828) $ 1,466 $ 83 Qualifying Hedges Gain or (loss) on fair value hedging relationships: Interest rate contracts: Hedged items – (18) 17 – 16 (21) Derivatives designated as hedging instruments – 18 (17) – (16) 21 Foreign currency contracts: Hedged items – (1) – – – – Derivatives designated as hedging instruments – 1 – – – – Gain or (loss) on cash flow hedging relationships: Interest rate contracts: Amount of gain or (loss) reclassified from AOCI into income – – 9 – – 6 Foreign currency contracts: Amount of gain or (loss) reclassified from AOCI into income – 15 – 2 14 – Non-Qualifying Hedges Interest rate contracts (163) – – 332 – – Foreign currency contracts – – – (1) – – Equity market contracts 2,134 – – (53) – – Commodity contracts – – – 11 – – Credit contracts – – – (1) – – Embedded derivatives: Reinsurance-related 197 – – (49) – – RILA, fixed indexed annuity and IUL contracts (1,642) – – (713) – –
Schedule of Credit Derivatives	Information related to our CDSs for which we are the seller (dollars in millions) was as follows: As of March 31, 2024 Credit Contract Type Maturity Reason for Entering Name of Recourse Credit Rating of Underlying Obligation (1) Number of Instruments Fair Value (2) Maximum Potential Payout Basket CDSs 12/20/2028 (3) (4) BBB+ 1 $ 1 $ 39 (1) Represents average credit ratings based on the midpoint of the applicable ratings among Moody’s, S&P and Fitch Ratings, as scaled to the corresponding S&P ratings. (2) Third-party valuation specialists are used to determine the market value of our CDSs. (3) CDSs were entered into in order to hedge the liability exposure on certain variable annuity products. (4) Sellers do not have the right to demand indemnification or compensation from third parties in case of a loss (payment) on the contract. Details underlying the associated collateral of our CDSs for which we are the seller if credit risk-related contingent features were triggered (in millions) were as follows: As of As of December 31, 2023 Maximum potential payout $ 39 $ – Less: Counterparty thresholds – – Maximum collateral potentially required to post $ 39 $ –
Schedule of Collateral Amounts With Rights to Reclaim or Obligation to Return Cash	The amounts recognized (in millions) by S&P credit rating of counterparty, for which we had the right to reclaim cash collateral or were obligated to return cash collateral, were as follows: As of March 31, 2024 As of December 31, 2023 S&P Collateral Collateral Collateral Collateral AA- $ 3,403 $ (71) $ 2,378 $ (63) A+ 2,929 (43) 2,496 (125) A 90 – 82 – A- 481 – 273 – $ 6,903 $ (114) $ 5,229 $ (188)
Schedule of Offsetting Assets	Information related to the effects of offsetting on the Consolidated Balance Sheets (in millions) was as follows: As of March 31, 2024 Derivative Instruments Embedded Derivative Instruments Total Financial Assets Gross amount of recognized assets $ 15,250 $ 973 $ 16,223 Gross amounts offset (6,856) – (6,856) Net amount of assets 8,394 973 9,367 Gross amounts not offset: Cash collateral (6,903) – (6,903) Non-cash collateral (1) (1,491) – (1,491) Net amount $ – $ 973 $ 973 Financial Liabilities Gross amount of recognized liabilities $ 273 $ 11,251 $ 11,524 Gross amounts offset (87) – (87) Net amount of liabilities 186 11,251 11,437 Gross amounts not offset: Cash collateral (114) – (114) Non-cash collateral (2) (72) – (72) Net amount $ – $ 11,251 $ 11,251 (1) Excludes excess non-cash collateral received of $1.4 billion, as the collateral offset is limited to the net estimated fair value of derivatives after application of netting arrangements. (2) Excludes excess non-cash collateral pledged of $89 million, as the collateral offset is limited to the net estimated fair value of derivatives after application of netting arrangements. As of December 31, 2023 Derivative Embedded Total Financial Assets Gross amount of recognized assets $ 10,927 $ 940 $ 11,867 Gross amounts offset (4,453) – (4,453) Net amount of assets 6,474 940 7,414 Gross amounts not offset: Cash collateral (5,229) – (5,229) Non-cash collateral (1) (1,245) – (1,245) Net amount $ – $ 940 $ 940 Financial Liabilities Gross amount of recognized liabilities $ 967 $ 9,629 $ 10,596 Gross amounts offset (612) – (612) Net amount of liabilities 355 9,629 9,984 Gross amounts not offset: Cash collateral (188) – (188) Non-cash collateral (2) (167) – (167) Net amount $ – $ 9,629 $ 9,629 (1) Excludes excess non-cash collateral received of $1.3 billion, as the collateral offset is limited to the net estimated fair value of derivatives after application of netting arrangements. (2) Excludes excess non-cash collateral pledged of $82 million, as the collateral offset is limited to the net estimated fair value of derivatives after application of netting arrangements.
Schedule of Offsetting Liabilities	Information related to the effects of offsetting on the Consolidated Balance Sheets (in millions) was as follows: As of March 31, 2024 Derivative Instruments Embedded Derivative Instruments Total Financial Assets Gross amount of recognized assets $ 15,250 $ 973 $ 16,223 Gross amounts offset (6,856) – (6,856) Net amount of assets 8,394 973 9,367 Gross amounts not offset: Cash collateral (6,903) – (6,903) Non-cash collateral (1) (1,491) – (1,491) Net amount $ – $ 973 $ 973 Financial Liabilities Gross amount of recognized liabilities $ 273 $ 11,251 $ 11,524 Gross amounts offset (87) – (87) Net amount of liabilities 186 11,251 11,437 Gross amounts not offset: Cash collateral (114) – (114) Non-cash collateral (2) (72) – (72) Net amount $ – $ 11,251 $ 11,251 (1) Excludes excess non-cash collateral received of $1.4 billion, as the collateral offset is limited to the net estimated fair value of derivatives after application of netting arrangements. (2) Excludes excess non-cash collateral pledged of $89 million, as the collateral offset is limited to the net estimated fair value of derivatives after application of netting arrangements. As of December 31, 2023 Derivative Embedded Total Financial Assets Gross amount of recognized assets $ 10,927 $ 940 $ 11,867 Gross amounts offset (4,453) – (4,453) Net amount of assets 6,474 940 7,414 Gross amounts not offset: Cash collateral (5,229) – (5,229) Non-cash collateral (1) (1,245) – (1,245) Net amount $ – $ 940 $ 940 Financial Liabilities Gross amount of recognized liabilities $ 967 $ 9,629 $ 10,596 Gross amounts offset (612) – (612) Net amount of liabilities 355 9,629 9,984 Gross amounts not offset: Cash collateral (188) – (188) Non-cash collateral (2) (167) – (167) Net amount $ – $ 9,629 $ 9,629 (1) Excludes excess non-cash collateral received of $1.3 billion, as the collateral offset is limited to the net estimated fair value of derivatives after application of netting arrangements. (2) Excludes excess non-cash collateral pledged of $82 million, as the collateral offset is limited to the net estimated fair value of derivatives after application of netting arrangements.

DAC, VOBA, DSI and DFEL (Tables

DAC, VOBA, DSI and DFEL (Tables)	3 Months Ended
	Mar. 31, 2024
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]
Reconciliation of DAC, VOBA and DSI	The following table reconciles deferred acquisition costs (“DAC”), value of business acquired (“VOBA”) and deferred sales inducements (“DSI”) (in millions) to the Consolidated Balance Sheets: As of As of 2024 2023 DAC, VOBA and DSI Variable Annuities $ 3,871 $ 3,873 Fixed Annuities 447 455 Traditional Life 1,411 1,418 UL and Other 6,246 6,232 Group Protection 157 154 Retirement Plan Services 273 265 Total DAC, VOBA and DSI $ 12,405 $ 12,397
Reconciliation of DFEL	The following table reconciles deferred front-end loads (“DFEL”) (in millions) to the Consolidated Balance Sheets: As of As of 2024 2023 DFEL Variable Annuities $ 277 $ 278 UL and Other (1) 5,778 5,579 Other Operations (2) 44 44 Total DFEL $ 6,099 $ 5,901 (1) We reported $258 million and $257 million of ceded DFEL in reinsurance recoverables on the Consolidated Balance Sheets as of March 31, 2024, and December 31, 2023, respectively. (2) Represents DFEL reported in Other Operations attributable to the indemnity reinsurance agreement with Protective that is excluded from the following tables. We reported $44 million of ceded DFEL in reinsurance recoverables on the Consolidated Balance Sheets as of March 31, 2024, and December 31, 2023.
DAC	The following tables summarize the changes in DAC (in millions): For the Three Months Ended March 31, 2024 Variable Fixed Traditional UL and Group Protection Retirement Balance as of beginning-of-year $ 3,751 $ 421 $ 1,376 $ 5,791 $ 154 $ 239 Deferrals 89 9 32 100 29 5 Amortization (89) (16) (37) (76) (26) (5) Balance as of end-of-period $ 3,751 $ 414 $ 1,371 $ 5,815 $ 157 $ 239 For the Three Months Ended March 31, 2023 Variable Fixed Traditional UL and Group Protection Retirement Balance as of beginning-of-year $ 3,751 $ 439 $ 1,333 $ 5,605 $ 141 $ 236 Deferrals 84 14 55 118 25 6 Amortization (90) (17) (36) (73) (24) (5) Balance as of end-of-period $ 3,745 $ 436 $ 1,352 $ 5,650 $ 142 $ 237
VOBA	The following tables summarize the changes in VOBA (in millions): For the Three Months Ended Fixed Traditional UL and Balance as of beginning-of-year $ 15 $ 42 $ 413 Amortization (1) (2) (10) Balance as of end-of-period $ 14 $ 40 $ 403 For the Three Months Ended Fixed Traditional UL and Balance as of beginning-of-year $ 17 $ 50 $ 465 Deferrals 1 – – Amortization (1) (2) (11) Balance as of end-of-period $ 17 $ 48 $ 454
DSI	The following tables summarize the changes in DSI (in millions): For the Three Months Ended Variable Fixed UL and Retirement Balance as of beginning-of-year $ 122 $ 19 $ 28 $ 26 Deferrals 1 – – 8 Amortization (3) – – – Balance as of end-of-period $ 120 $ 19 $ 28 $ 34 For the Three Months Ended Variable Fixed UL and Retirement Balance as of beginning-of-year $ 128 $ 23 $ 30 $ 17 Deferrals 1 – – 2 Amortization (4) (1) (1) 1 Balance as of end-of-period $ 125 $ 22 $ 29 $ 20
DFEL	The following tables summarize the changes in DFEL (in millions): For the Three Months Ended For the Three Months Ended Variable UL and Variable UL and Balance as of beginning-of-year $ 278 $ 5,579 $ 286 $ 4,766 Deferrals 5 267 5 261 Amortization (6) (68) (7) (61) Balance as of end-of-period 277 5,778 284 4,966 Less: ceded DFEL – 258 – – Balance as of end-of-period, net of reinsurance $ 277 $ 5,520 $ 284 $ 4,966

Reinsurance (Tables)

Reinsurance (Tables)	3 Months Ended
	Mar. 31, 2024
Reinsurance Disclosures [Abstract]
Schedule of Assets in Support of Reserves	We held investments with a carrying value of $9.8 billion and $9.9 billion in support of reserves associated with the Fortitude Re transaction in a funds withheld arrangement as of March 31, 2024, and December 31, 2023, respectively, which consisted of the following (in millions): As of As of 2024 2023 Fixed maturity AFS securities $ 8,651 $ 8,867 Other investments 1,002 759 Cash and invested cash 34 141 Accrued investment income 107 103 Other assets 5 1 Total $ 9,799 $ 9,871

MRBs (Tables)

MRBs (Tables)	3 Months Ended
	Mar. 31, 2024
Insurance [Abstract]
Reconciles of MRBs Assets and Liabilities	The following table reconciles market risk benefits (“MRBs”) (in millions) to MRB assets and MRB liabilities on the Consolidated Balance Sheets: As of March 31, 2024 As of December 31, 2023 Assets Liabilities Net (Assets) Liabilities Assets Liabilities Net (Assets) Liabilities Variable Annuities $ 4,743 $ 1,139 $ (3,604) $ 3,763 $ 1,583 $ (2,180) Fixed Annuities 96 123 27 96 128 32 Retirement Plan Services 39 4 (35) 35 5 (30) Total MRBs $ 4,878 $ 1,266 $ (3,612) $ 3,894 $ 1,716 $ (2,178)
Summary of Balances of Changes in Net MRB (Assets) Liabilities	The following table summarizes the balances of and changes in net MRB (assets) liabilities (in millions): As of or For the Three As of or For the Three Variable Annuities Fixed Annuities Retirement Plan Services Variable Annuities Fixed Annuities Retirement Plan Services Balance as of beginning-of-year $ (2,180) $ 32 $ (30) $ (662) $ (45) $ (22) Less: Effect of cumulative changes in non-performance risk (1,299) (58) (4) (2,173) (40) (2) Balance as of beginning-of-year, before the effect of changes in non-performance risk (881) 90 (26) 1,511 (5) (20) Issuances 3 – – 1 – – Attributed fees collected 380 9 2 379 9 2 Benefit payments (11) – – (19) – – Effect of changes in interest rates (1,081) (17) (6) 1,406 31 5 Effect of changes in equity markets (1,343) (11) (4) (1,029) (2) (6) Effect of changes in equity index volatility 4 (2) – (286) – (2) In-force updates and other changes in MRBs (1) 51 1 1 76 1 – Balance as of end-of-period, before the effect of changes in non-performance risk (2,878) 70 (33) 2,039 34 (21) Effect of cumulative changes in non-performance risk (726) (43) (2) (3,451) (65) (5) Balance as of end-of-period (3,604) 27 (35) (1,412) (31) (26) Less: ceded MRB assets (liabilities) (358) – – (246) – – Balance as of end-of-period, net of reinsurance $ (3,246) $ 27 $ (35) $ (1,166) $ (31) $ (26) Weighted-average age of policyholders (years) 72 69 63 71 68 63 Net amount at risk (2) $ 2,056 $ 210 $ 3 $ 6,268 $ 192 $ 9 (1) Consists primarily of changes in MRB assets and liabilities related to differences between separate account fund performance and modeled indices and other changes such as actual to expected policyholder behavior. (2)

Separate Accounts (Tables)

Separate Accounts (Tables)	3 Months Ended
	Mar. 31, 2024
Separate Accounts Disclosure [Abstract]
Schedule of Fair Value of Separate Account Assets	The following table presents the fair value of separate account assets (in millions) reported on the Consolidated Balance Sheets by major investment category: As of As of 2024 2023 Mutual funds and collective investment trusts $ 165,556 $ 157,578 Exchange-traded funds 352 350 Fixed maturity AFS securities 162 167 Cash and invested cash 8 25 Other investments 147 137 Total separate account assets $ 166,225 $ 158,257
Schedule of Reconciliation of Separate Account Liabilities	The following table reconciles separate account liabilities (in millions) to the Consolidated Balance Sheets: As of As of 2024 2023 Variable Annuities $ 118,176 $ 113,356 UL and Other 27,007 25,150 Retirement Plan Services 20,986 19,699 Other Operations (1) 56 52 Total separate account liabilities $ 166,225 $ 158,257 (1)
Summary of Balances and changes in Separate Account Liabilities	The following table summarizes the balances of and changes in separate account liabilities (in millions): As of or For the Three As of or For the Three Variable Annuities UL and Other Retirement Plan Services Variable Annuities UL and Other Retirement Plan Services Balance as of beginning-of-year $ 113,356 $ 25,150 $ 19,699 $ 105,573 $ 20,920 $ 16,996 Gross deposits 904 358 570 624 394 554 Withdrawals (3,208) (103) (732) (2,436) (75) (586) Policyholder assessments (648) (246) (44) (624) (238) (40) Change in market performance 7,503 1,885 1,475 5,054 1,193 978 Net transfers from (to) general account 269 (37) 18 143 (32) (26) Balance as of end-of-period $ 118,176 $ 27,007 $ 20,986 $ 108,334 $ 22,162 $ 17,876 Cash surrender value $ 116,771 $ 24,606 $ 20,971 $ 106,796 $ 19,863 $ 17,862

Policyholder Account Balances (

Policyholder Account Balances (Tables)	3 Months Ended
	Mar. 31, 2024
Policyholder Account Balance [Abstract]
Schedule of Policyholder Account Balances	The following table reconciles policyholder account balances (in millions) to the Consolidated Balance Sheets: As of As of 2024 2023 Variable Annuities $ 31,408 $ 29,141 Fixed Annuities 25,162 25,355 UL and Other 37,006 37,180 Retirement Plan Services 23,586 23,784 Other (1) 5,138 5,277 Total policyholder account balances $ 122,300 $ 120,737 (1) Represents policyholder account balances reported primarily in Other Operations attributable to the indemnity reinsurance agreements with Protective ($4.7 billion and $4.9 billion as of March 31, 2024, and December 31, 2023, respectively) that are excluded from the following tables.
Summary of Balances and Changes in Policyholder Account Balances	The following table summarizes the balances and changes in policyholder account balances (in millions): As of or For the Three Months Ended March 31, 2024 Variable Annuities Fixed Annuities UL and Retirement Balance as of beginning-of-year $ 29,141 $ 25,355 $ 37,180 $ 23,784 Gross deposits 973 973 850 790 Withdrawals (224) (1,410) (364) (1,203) Policyholder assessments – (17) (1,124) (3) Net transfers from (to) separate account (178) – 38 50 Interest credited 158 183 365 168 Change in fair value of embedded derivative instruments 1,538 78 61 – Balance as of end-of-period $ 31,408 $ 25,162 $ 37,006 $ 23,586 Weighted-average crediting rate 2.1% 2.9% 3.9% 2.8% Net amount at risk (1)(2) $ 2,056 $ 210 $ 300,740 $ 3 Cash surrender value 30,228 24,139 33,314 23,560 As of or For the Three Months Ended March 31, 2023 Variable Annuities Fixed Annuities UL and Retirement Balance as of beginning-of-year $ 22,184 $ 23,365 $ 37,694 $ 25,138 Gross deposits 1,222 1,317 926 701 Withdrawals (170) (889) (393) (1,113) Policyholder assessments – (15) (1,128) (3) Net transfers from (to) separate account (114) – 32 103 Interest credited 109 154 373 168 Change in fair value of embedded derivative instruments 540 87 29 – Balance as of end-of-period $ 23,771 $ 24,019 $ 37,533 $ 24,994 Weighted-average crediting rate 1.9 % 2.6 % 4.0 % 2.7 % Net amount at risk (1)(2) $ 6,268 $ 192 $ 303,412 $ 9 Cash surrender value 22,698 23,125 34,033 24,989 (1) NAR is the current guaranteed minimum benefit in excess of the current account balance as of the balance sheet date. For GLBs, the guaranteed minimum benefit is calculated based on the present value of GLB payments. Our variable annuity products may offer more than one type of guaranteed benefit rider to a policyholder. In instances where more than one guaranteed benefit rider exists in a contract, the guaranteed benefit rider that provides the highest NAR is used in the calculation. (2) Calculation is based on total account balances and includes both policyholder account balances and separate account balances.
Summary of Policyholder Account Balances by Range	The following table presents policyholder account balances (in millions) by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between the interest being credited to policyholders and the respective guaranteed contract minimums: As of March 31, 2024 At 1-50 Basis 51-100 101-150 Greater Total Range of Guaranteed Minimum Crediting Rate Variable Annuities Up to 1.00% $ – $ – $ – $ – $ – $ – 1.01% - 2.00% 5 – – – 6 11 2.01% - 3.00% 560 – – – – 560 3.01% - 4.00% 1,319 – – – – 1,319 4.01% and above 9 – – – – 9 Other (1) – – – – – 29,509 Total $ 1,893 $ – $ – $ – $ 6 $ 31,408 Fixed Annuities Up to 1.00% $ 679 $ 605 $ 560 $ 493 $ 2,466 $ 4,803 1.01% - 2.00% 360 99 285 500 3,231 4,475 2.01% - 3.00% 1,749 39 5 1 25 1,819 3.01% - 4.00% 916 – – – – 916 4.01% and above 177 – – – – 177 Other (1) – – – – – 12,972 Total $ 3,881 $ 743 $ 850 $ 994 $ 5,722 $ 25,162 UL and Other Up to 1.00% $ 264 $ – $ 219 $ 119 $ 30 $ 632 1.01% - 2.00% 548 – – – 3,208 3,756 2.01% - 3.00% 6,848 10 149 – – 7,007 3.01% - 4.00% 15,596 – 1 – – 15,597 4.01% and above 3,722 – – – – 3,722 Other (1) – – – – – 6,292 Total $ 26,978 $ 10 $ 369 $ 119 $ 3,238 $ 37,006 Retirement Plan Services Up to 1.00% $ 437 $ 500 $ 740 $ 3,706 $ 4,320 $ 9,703 1.01% - 2.00% 527 1,660 1,413 1,345 14 4,959 2.01% - 3.00% 2,342 21 63 17 1 2,444 3.01% - 4.00% 4,842 31 3 3 – 4,879 4.01% and above 1,458 143 – – – 1,601 Total $ 9,606 $ 2,355 $ 2,219 $ 5,071 $ 4,335 $ 23,586 As of March 31, 2023 At 1-50 Basis 51-100 101-150 Greater Total Range of Guaranteed Minimum Crediting Rate Variable Annuities Up to 1.00% $ – $ – $ – $ – $ – $ – 1.01% - 2.00% 4 – – – 8 12 2.01% - 3.00% 634 – – – – 634 3.01% - 4.00% 1,503 – – – – 1,503 4.01% and above 10 – – – – 10 Other (1) – – – – – 21,612 Total $ 2,151 $ – $ – $ – $ 8 $ 23,771 Fixed Annuities Up to 1.00% $ 831 $ 447 $ 578 $ 448 $ 1,773 $ 4,077 1.01% - 2.00% 559 141 184 493 1,083 2,460 2.01% - 3.00% 1,885 6 2 – – 1,893 3.01% - 4.00% 1,473 – – – – 1,473 4.01% and above 193 – – – – 193 Other (1) – – – – – 13,923 Total $ 4,941 $ 594 $ 764 $ 941 $ 2,856 $ 24,019 UL and Other Up to 1.00% $ 312 $ – $ 202 $ 26 $ 348 $ 888 1.01% - 2.00% 556 – – – 3,229 3,785 2.01% - 3.00% 7,130 158 – – – 7,288 3.01% - 4.00% 16,107 – 1 – – 16,108 4.01% and above 3,767 – – – – 3,767 Other (1) – – – – – 5,697 Total $ 27,872 $ 158 $ 203 $ 26 $ 3,577 $ 37,533 Retirement Plan Services Up to 1.00% $ 595 $ 751 $ 3,062 $ 2,911 $ 2,213 $ 9,532 1.01% - 2.00% 977 2,629 1,196 527 – 5,329 2.01% - 3.00% 3,093 – – – – 3,093 3.01% - 4.00% 5,442 – – – – 5,442 4.01% and above 1,598 – – – – 1,598 Total $ 11,705 $ 3,380 $ 4,258 $ 3,438 $ 2,213 $ 24,994 (1)

Future Contract Benefits (Table

Future Contract Benefits (Tables)	3 Months Ended
	Mar. 31, 2024
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Summary of Reconciliation of Future Contract Benefits	The following table reconciles future contract benefits (in millions) to the Consolidated Balance Sheets: As of As of 2024 2023 Payout Annuities (1) $ 2,034 $ 2,085 Traditional Life (1) 3,793 3,841 Group Protection (2) 5,640 5,689 UL and Other (3) 14,444 15,000 Other Operations (4) 9,615 9,879 Other (5) 3,322 3,371 Total future contract benefits $ 38,848 $ 39,864 (1) See liability for future policy benefits (“LFPB”) below for further information. (2) See “Liability for Future Claims” below for further information. (3) See “Additional Liabilities for Other Insurance Benefits” below for further information. (4) Represents future contract benefits reported in Other Operations primarily attributable to the indemnity reinsurance agreements with Protective ($5.5 billion and $5.6 billion as of March 31, 2024, and December 31, 2023, respectively) and Swiss Re ($2.2 billion as of March 31, 2024, and December 31, 2023) that are excluded from the following tables. (5) Represents other miscellaneous reserves that are not representative of long-duration contracts and are excluded from the following tables.
Liability for Future Policy Benefit, Activity	The following table summarizes the balances of and changes in the present values of expected net premiums and LFPB (in millions, except years): As of or For the Three As of or For the Three Payout Annuities Traditional Life Payout Annuities Traditional Life Present Value of Expected Net Premiums Balance as of beginning-of-year $ – $ 6,200 $ – $ 6,063 Less: Effect of cumulative changes in discount rate assumptions – (148) – (582) Beginning balance at original discount rate – 6,348 – 6,645 Effect of actual variances from expected experience – 2 – (241) Adjusted balance as of beginning-of-year – 6,350 – 6,404 Issuances – 108 – 176 Interest accrual – 63 – 60 Net premiums collected – (202) – (203) Flooring impact of LFPB – 3 – 2 Ending balance at original discount rate – 6,322 – 6,439 Effect of cumulative changes in discount rate assumptions – (254) – (230) Balance as of end-of-period $ – $ 6,068 $ – $ 6,209 Present Value of Expected LFPB Balance as of beginning-of-year $ 2,085 $ 10,041 $ 2,004 $ 9,572 Less: Effect of cumulative changes in discount rate assumptions (187) (189) (263) (785) Beginning balance at original discount rate (1) 2,272 10,230 2,267 10,357 Effect of actual variances from expected experience 1 7 (1) (251) Adjusted balance as of beginning-of-year 2,273 10,237 2,266 10,106 Issuances 15 108 27 177 Interest accrual 22 100 21 95 Benefit payments (49) (206) (46) (186) Ending balance at original discount rate (1) 2,261 10,239 2,268 10,192 Effect of cumulative changes in discount rate assumptions (227) (378) (200) (302) Balance as of end-of-period $ 2,034 $ 9,861 $ 2,068 $ 9,890 Net balance as of end-of-period $ 2,034 $ 3,793 $ 2,068 $ 3,681 Less: reinsurance recoverables 1,562 421 3 520 Net balance as of end-of-period, net of reinsurance $ 472 $ 3,372 $ 2,065 $ 3,161 Weighted-average duration of future policyholder benefit liability (years) 9 9 9 10 (1) Includes deferred profit liability within Payout Annuities of $60 million and $43 million as of March 31, 2024 and 2023, respectively. The following table summarizes the balances of and changes in liability for future claims (in millions, except years): Group Protection As of or For the Three 2024 2023 Balance as of beginning-of-year $ 5,689 $ 5,462 Less: Effect of cumulative changes in discount rate assumptions (490) (597) Beginning balance at original discount rate 6,179 6,059 Effect of actual variances from expected experience (67) (100) Adjusted beginning-of-year balance 6,112 5,959 New incidence 408 437 Interest 48 42 Benefit payments (382) (377) Ending balance at original discount rate 6,186 6,061 Effect of cumulative changes in discount rate assumptions (546) (569) Balance as of end-of-period 5,640 5,492 Less: reinsurance recoverables 123 126 Balance as of end-of-period, net of reinsurance $ 5,517 $ 5,366 Weighted-average duration of liability for future claims (years) 5 4 The following table summarizes the balances of and changes in additional liabilities for other insurance benefits (in millions, except years): UL and Other As of or For the Three 2024 2023 Balance as of beginning-of-year $ 15,000 $ 14,818 Less: Effect of cumulative changes in shadow balance in AOCI (2,222) (905) Balance as of beginning-of-year, excluding shadow balance in AOCI 17,222 15,723 Effect of actual variances from expected experience 106 (9) Adjusted beginning-of-year balance 17,328 15,714 Interest accrual 209 186 Net assessments collected 303 336 Benefit payments (313) (183) Balance as of end-of-period, excluding shadow balance in AOCI 17,527 16,053 Effect of cumulative changes in shadow balance in AOCI (3,083) (669) Balance as of end-of-period 14,444 15,384 Less: reinsurance recoverables (1) 4,776 862 Balance as of end-of-period, net of reinsurance $ 9,668 $ 14,522 Weighted-average duration of additional liabilities for other insurance benefits (years) 17 17 (1) Increase in reinsurance recoverables driven by the reinsurance agreement with Fortitude Re effective October 1, 2023 for certain blocks of in-force ULSG. See Note 7
Summary of Discounted and Undiscounted Expected Future Gross premiums and Expected Future Benefit Payments	The following table summarizes the discounted and undiscounted expected future gross premiums and expected future benefit payments (in millions): As of March 31, 2024 As of March 31, 2023 Undiscounted Discounted Undiscounted Discounted Payout Annuities Expected future gross premiums $ – $ – $ – $ – Expected future benefit payments 3,438 2,034 3,461 2,068 Traditional Life Expected future gross premiums 13,896 9,570 14,005 9,750 Expected future benefit payments 14,582 9,861 14,485 9,890 The following table summarizes the discounted and undiscounted expected future benefit payments (in millions): As of March 31, 2024 As of March 31, 2023 Undiscounted Discounted Undiscounted Discounted Group Protection Expected future benefit payments $ 7,296 $ 5,640 $ 7,086 $ 5,492
Summary of Gross Premiums and Interest Accretion	The following table summarizes the gross premiums and interest accretion (in millions) recognized in insurance premiums and benefits, respectively, on the Consolidated Statements of Comprehensive Income (Loss): For the Three Months Ended 2024 2023 Payout Annuities Gross premiums $ 21 $ 28 Interest accretion 22 21 Traditional Life Gross premiums 314 313 Interest accretion 37 35 The following table summarizes the gross premiums and interest accretion (in millions) recognized in insurance premiums and benefits, respectively, on the Consolidated Statements of Comprehensive Income (Loss): For the Three Months Ended 2024 2023 Group Protection Gross premiums $ 896 $ 885 Interest accretion 48 42 The following table summarizes the gross assessments and interest accretion (in millions) recognized in insurance premiums and benefits, respectively, on the Consolidated Statements of Comprehensive Income (Loss): For the Three Months Ended 2024 2023 UL and Other Gross assessments $ 766 $ 915 Interest accretion 209 186
Summary of Weighted-Average Interest Rates	The following table summarizes the weighted-average interest rates: For the Three Months Ended 2024 2023 Payout Annuities Interest accretion rate 3.9 % 3.9 % Current discount rate 5.2 % 4.9 % Traditional Life Interest accretion rate 5.0 % 5.1 % Current discount rate 5.0 % 4.8 % The following table summarizes the weighted-average interest rates: For the Three Months Ended 2024 2023 Group Protection Interest accretion rate 3.2 % 2.9 % Current discount rate 5.0 % 4.8 % The following table summarizes the weighted-average interest rates: For the Three Months Ended 2024 2023 UL and Other Interest accretion rate 5.3 % 5.0 %

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Changes in Debt	Changes in debt (in millions) were as follows: For the Three Months Ended 2024 Balance as of beginning-of-year $ 5,949 Issuance of 5.852% Senior Notes due 2034 350 Partial repayment of variable rate term loan, due 2024 (1) (47) Unamortized debt issuance costs (2) Unamortized adjustments from discontinued hedges (4) Fair value hedge on interest rate swap agreements (17) Balance as of end-of-period $ 6,229 (1) Term loan uses a Secured Overnight Financing Rate (“SOFR”)-based interest rate, plus transition spread of 10 basis points and credit spread of 112.5 basis points.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The carrying values and estimated fair values of our financial instruments (in millions) were as follows: As of March 31, 2024 As of December 31, 2023 Carrying Fair Carrying Fair Assets Fixed maturity AFS securities $ 87,764 $ 87,764 $ 88,738 $ 88,738 Trading securities 2,227 2,227 2,359 2,359 Equity securities 319 319 306 306 Mortgage loans on real estate 19,266 17,658 18,963 17,407 Derivative investments 8,394 8,394 6,474 6,474 Other investments 5,256 5,256 5,015 5,015 Cash and invested cash 4,122 4,122 3,365 3,365 MRB assets 4,878 4,878 3,894 3,894 Other assets: Ceded MRBs 2 2 2 2 Indexed annuity ceded embedded derivatives 973 973 940 940 Separate account assets 166,225 166,225 158,257 158,257 Liabilities Policyholder account balances: Account balances of certain investment contracts (44,386) (33,752) (44,640) (34,041) RILA, fixed annuity and IUL contracts (10,896) (10,896) (9,077) (9,077) Funds withheld reinsurance liabilities – reinsurance-related embedded derivatives (355) (355) (552) (552) MRB liabilities (1,266) (1,266) (1,716) (1,716) Short-term debt (503) (493) (250) (249) Long-term debt (5,726) (5,058) (5,699) (5,182) Other liabilities: Ceded MRBs (360) (360) (239) (239) Derivative liabilities (186) (186) (356) (356) Remaining guaranteed interest and similar contracts (397) (397) (411) (411)
Fair Value Option, Disclosures	The fair value and aggregate contractual principal for mortgage loans on real estate where the fair value option was elected (in millions) were as follows: As of As of 2024 2023 Fair value $ 289 $ 288 Aggregate contractual principal 326 326
Fair Value of Assets and Liabilities on a Recurring Basis	The following summarizes our financial instruments carried at fair value (in millions) on a recurring basis by the fair value hierarchy levels: As of March 31, 2024 Quoted Prices in Active Markets for Significant Significant Identical Observable Unobservable Total Assets Inputs Inputs Fair (Level 1) (Level 2) (Level 3) Value Assets Investments: Fixed maturity AFS securities: Corporate bonds $ – $ 66,044 $ 2,489 $ 68,533 U.S. government bonds 371 20 – 391 State and municipal bonds – 2,743 – 2,743 Foreign government bonds – 263 – 263 RMBS – 1,747 12 1,759 CMBS – 1,476 8 1,484 ABS – 10,657 1,692 12,349 Hybrid and redeemable preferred securities 48 143 51 242 Trading securities – 1,956 271 2,227 Equity securities 12 268 39 319 Mortgage loans on real estate – – 289 289 Derivative investments (1) – 14,584 727 15,311 Other investments – short-term investments – 217 – 217 Cash and invested cash – 4,122 – 4,122 MRB assets – – 4,878 4,878 Other assets: Ceded MRBs – – 2 2 Indexed annuity ceded embedded derivatives – – 973 973 Separate account assets 406 165,819 – 166,225 Total assets $ 837 $ 270,059 $ 11,431 $ 282,327 Liabilities Policyholder account balances – RILA, fixed annuity and IUL contracts $ – $ – $ (10,896) $ (10,896) Funds withheld reinsurance liabilities – reinsurance-related embedded derivatives – 228 (583) (355) MRB liabilities – – (1,266) (1,266) Other liabilities: Ceded MRBs – – (360) (360) Derivative liabilities (1) – (6,377) (726) (7,103) Total liabilities $ – $ (6,149) $ (13,831) $ (19,980) As of December 31, 2023 Quoted Prices in Active Markets for Significant Significant Identical Observable Unobservable Total Assets Inputs Inputs Fair (Level 1) (Level 2) (Level 3) Value Assets Investments: Fixed maturity AFS securities: Corporate bonds $ – $ 67,160 $ 2,497 $ 69,657 U.S. government bonds 374 19 – 393 State and municipal bonds – 2,785 5 2,790 Foreign government bonds – 283 – 283 RMBS – 1,760 13 1,773 CMBS – 1,416 8 1,424 ABS – 10,687 1,484 12,171 Hybrid and redeemable preferred securities 46 153 48 247 Trading securities – 2,075 284 2,359 Equity securities 1 263 42 306 Mortgage loans on real estate – – 288 288 Derivative investments (1) – 10,874 622 11,496 Other investments – short-term investments – 233 – 233 Cash and invested cash – 3,365 – 3,365 MRB assets – – 3,894 3,894 Other assets: Ceded MRBs – – 2 2 Indexed annuity ceded embedded derivatives – – 940 940 Separate account assets 402 157,855 – 158,257 Total assets $ 823 $ 258,928 $ 10,127 $ 269,878 Liabilities Policyholder account balances – RILA, fixed annuity and IUL contracts $ – $ – $ (9,077) $ (9,077) Funds withheld reinsurance liabilities – reinsurance-related embedded derivatives – 237 (789) (552) MRB liabilities – – (1,716) (1,716) Other liabilities: Ceded MRBs – – (239) (239) Derivative liabilities (1) – (4,792) (586) (5,378) Total liabilities $ – $ (4,555) $ (12,407) $ (16,962) (1)
Fair Value Measured on a Recurring Basis Reconciliation	The following summarizes changes to our financial instruments carried at fair value (in millions) and classified within Level 3 of the fair value hierarchy. The gains and losses below may include changes in fair value due in part to observable inputs that are a component of the valuation methodology. The summary schedule excludes changes to MRB assets and MRB liabilities as these balances are rolled forward in Note 8 For the Three Months Ended March 31, 2024 Gains Issuances, Transfers Items (Losses) Sales, Into or Included in Maturities, Out Beginning in OCI Settlements, of Ending Fair Net and Calls, Level 3, Fair Value Income Other (1) Net Net Value Assets Investments: (2) Fixed maturity AFS securities: Corporate bonds $ 2,497 $ 2 $ (10) $ 22 $ (22) $ 2,489 State and municipal bonds 5 – – – (5) – RMBS 13 – (1) – – 12 CMBS 8 – – – – 8 ABS 1,484 – (1) 201 8 1,692 Hybrid and redeemable preferred securities 48 – 3 – – 51 Trading securities 284 – – (13) – 271 Equity securities 42 (3) – – – 39 Mortgage loans on real estate 288 – 1 – – 289 Derivative investments 36 12 – 4 (51) 1 Other assets: Ceded MRBs (3) 2 – – – – 2 Indexed annuity ceded embedded derivatives (4) 940 33 – – – 973 Liabilities Policyholder account balances – RILA, fixed annuity and IUL contracts (4) (9,077) (1,677) – (142) – (10,896) Funds withheld reinsurance liabilities – reinsurance-related embedded derivatives (4) (789) 206 – – – (583) Other liabilities – ceded MRBs (3) (239) (121) – – – (360) Total, net $ (4,458) $ (1,548) $ (8) $ 72 $ (70) $ (6,012) For the Three Months Ended March 31, 2023 Gains Issuances, Transfers Items (Losses) Sales, Into or Included in Maturities, Out Beginning in OCI Settlements, of Ending Fair Net and Calls, Level 3, Fair Value Income Other (1) Net Net Value Assets Investments: (2) Fixed maturity AFS securities: Corporate bonds $ 2,295 $ 1 $ 13 $ 30 $ 16 $ 2,355 State and municipal bonds 35 – 1 – – 36 RMBS 1 – – – – 1 ABS 1,117 – 8 168 (193) 1,100 Hybrid and redeemable preferred securities 49 – – (2) 12 59 Trading securities 581 4 – (127) – 458 Equity securities 153 (16) – – – 137 Mortgage loans on real estate 487 2 3 (2) – 490 Derivative investments 2 (1) – – – 1 Other assets: Ceded MRBs (3) 12 (6) – – – 6 Indexed annuity ceded embedded derivatives (4) 525 6 – (226) – 305 Liabilities Policyholder account balances – RILA, fixed annuity and IUL contracts (4) (4,783) (719) – (294) – (5,796) Other liabilities – ceded MRBs (3) (205) (47) – – – (252) Total, net $ 269 $ (776) $ 25 $ (453) $ (165) $ (1,100) (1) The changes in fair value of the interest rate swaps are offset by an adjustment to derivative investments (see Note 5 (2) Amortization and accretion of premiums and discounts are included in net investment income on the Consolidated Statements of Comprehensive Income (Loss). Gains (losses) from sales, maturities, settlements and calls and credit loss expense are included in realized gain (loss) on the Consolidated Statements of Comprehensive Income (Loss). (3) Gains (losses) from the changes in fair value are included in market risk benefit gain (loss) on the Consolidated Statements of Comprehensive Income (Loss). (4) Gains (losses) from the changes in fair value are included in realized gain (loss) on the Consolidated Statements of Comprehensive Income (Loss).
Schedule of Investment Holdings Movements	The following provides the components of the items included in issuances, sales, maturities, settlements and calls, net, (in millions) as reported above: For the Three Months Ended March 31, 2024 Issuances Sales Maturities Settlements Calls Total Investments: Fixed maturity AFS securities: Corporate bonds $ 277 $ (141) $ (2) $ (111) $ (1) $ 22 ABS 264 – – (63) – 201 Trading securities – (2) – (11) – (13) Mortgage loans on real estate 1 (1) – – – – Derivative investments 7 – (3) – – 4 Other assets – indexed annuity ceded embedded derivatives 26 – – (26) – – Policyholder account balances – RILA, fixed annuity and IUL contracts (249) – – 107 – (142) Total, net $ 326 $ (144) $ (5) $ (104) $ (1) $ 72 For the Three Months Ended March 31, 2023 Issuances Sales Maturities Settlements Calls Total Investments: Fixed maturity AFS securities: Corporate bonds $ 141 $ (35) $ (8) $ (68) $ – $ 30 ABS 241 (2) – (71) – 168 Hybrid and redeemable preferred securities – – – – (2) (2) Trading securities – (53) – (74) – (127) Mortgage loans on real estate 1 – – (3) – (2) Other assets – indexed annuity ceded embedded derivatives 50 – – (276) – (226) Policyholder account balances – RILA, fixed annuity and IUL contracts (300) – – 6 – (294) Total, net $ 133 $ (90) $ (8) $ (486) $ (2) $ (453)
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings	The following summarizes changes in unrealized gains (losses) included in net income related to financial instruments carried at fair value classified within Level 3 that we still held (in millions): For the Three 2024 2023 Trading securities (1) $ – $ 6 Equity securities (1) (3) (16) Mortgage loans on real estate (1) – 2 Derivative investments (1) 16 (2) MRBs (2) 1,896 (638) Funds withheld reinsurance liabilities – reinsurance-related embedded derivatives 206 – Embedded derivatives – indexed annuity and IUL contracts (1) 241 (153) Total, net (1) $ 2,356 $ (801) (1) Included in realized gain (loss) on the Consolidated Statements of Comprehensive Income (Loss). (2) Included in market risk benefit gain (loss) on the Consolidated Statements of Comprehensive Income (Loss).
Changes in Unrealized Gains (Losses) Included in OCI	The following summarizes changes in unrealized gains (losses) included in OCI, net of tax, related to financial instruments carried at fair value classified within Level 3 that we still held (in millions): For the Three 2024 2023 Fixed maturity AFS securities: Corporate bonds $ (11) $ 13 State and municipal bonds – 1 ABS (1) 8 Hybrid and redeemable preferred securities 2 – Mortgage loans on real estate 1 2 Total, net $ (9) $ 24
Components of the Transfers In and Out of Level 3	The following provides the components of the transfers into and out of Level 3 (in millions) as reported above: For the Three For the Three Transfers Transfers Transfers Transfers Into Out of Into Out of Level 3 Level 3 Total Level 3 Level 3 Total Investments: Fixed maturity AFS securities: Corporate bonds $ 22 $ (44) $ (22) $ 59 $ (43) $ 16 State and municipal bonds – (5) (5) – – – ABS 31 (23) 8 – (193) (193) Hybrid and redeemable preferred securities – – – 12 – 12 Derivative investments – (51) (51) – – – Total, net $ 53 $ (123) $ (70) $ 71 $ (236) $ (165)
Fair Value Inputs Quantitative Information	The following summarizes the fair value (in millions), valuation techniques and significant unobservable inputs of the Level 3 fair value measurements as of March 31, 2024: Weighted Fair Valuation Significant Assumption or Average Input Value Technique Unobservable Inputs Input Ranges Range (1) Assets Investments: Fixed maturity AFS securities: Corporate bonds $ 202 Discounted cash flow Liquidity/duration adjustment (2) (0.1) % – 3.8 % 2.0 % ABS 11 Discounted cash flow Liquidity/duration adjustment (2) 1.6 % – 1.6 % 1.6 % CMBS 8 Discounted cash flow Liquidity/duration adjustment (2) 2.0 % — 2.0 % 2.0 % Hybrid and redeemable preferred securities 7 Discounted cash flow Liquidity/duration adjustment (2) 1.3 % – 1.5 % 1.4 % Equity securities 5 Discounted cash flow Liquidity/duration adjustment (2) 4.5 % – 4.5 % 4.5 % MRB assets 4,878 Other assets – ceded MRBs 2 Discounted cash flow Lapse (3) 1 % – 30 % (10) Utilization of GLB withdrawals (4) 85 % – 100 % 94 % Claims utilization factor (5) 60 % – 100 % (10) Premiums utilization factor (5) 80 % – 115 % (10) Non-performance risk (6) 0.31 % – 2.03 % 1.62 % Mortality (7) (9) (10) Volatility (8) 1 % – 29 % 14.14 % Other assets – indexed annuity ceded embedded derivatives 973 Discounted cash flow Lapse (3) 0% – 9 % (10) Mortality (7) (9) (10) Liabilities Policyholder account balances – indexed annuity contracts embedded derivatives $ (10,803) Discounted cash flow Lapse (3) 0% – 9 % (10) Mortality (7) (9) (10) MRB liabilities (1,266) Other liabilities – ceded MRBs (360) Discounted cash flow Lapse (3) 1 % – 30 % (10) Utilization of GLB withdrawals (4) 85 % – 100 % 94 % Claims utilization factor (5) 60 % – 100 % (10) Premiums utilization factor (5) 80 % – 115 % (10) Non-performance risk (6) 0.31 % – 2.03 % 1.62 % Mortality (7) (9) (10) Volatility (8) 1 % – 29 % 14.14 % The following summarizes the fair value (in millions), valuation techniques and significant unobservable inputs of the Level 3 fair value measurements as of December 31, 2023: Weighted Fair Valuation Significant Assumption or Average Input Value Technique Unobservable Inputs Input Ranges Range (1) Assets Investments: Fixed maturity AFS securities: Corporate bonds $ 186 Discounted cash flow Liquidity/duration adjustment (2) (0.2) % – 3.7 % 2.1 % State and municipal bonds 5 Discounted cash flow Liquidity/duration adjustment (2) 0.9 % – 2.2 % 2.1 % CMBS 8 Discounted cash flow Liquidity/duration adjustment (2) 2.3 % – 2.3 % 2.3 % ABS 12 Discounted cash flow Liquidity/duration adjustment (2) 1.8 % – 1.8 % 1.8 % Hybrid and redeemable preferred securities 7 Discounted cash flow Liquidity/duration adjustment (2) 1.4 % – 1.5 % 1.5 % Equity securities 5 Discounted cash flow Liquidity/duration adjustment (2) 4.5 % – 4.5 % 4.5 % MRB assets 3,894 Other assets – ceded MRBs 2 Discounted cash flow Lapse (3) 1 % – 30 % (10) Utilization of GLB withdrawals (4) 85 % – 100 % 94 % Claims utilization factor (5) 60 % – 100 % (10) Premiums utilization factor (5) 80 % – 115 % (10) Non-performance risk (6) 0.51 % – 2.13 % 1.78 % Mortality (7) (9) (10) Volatility (8) 1 % – 29 % 13.92 % Other assets – indexed annuity ceded embedded derivatives 940 Discounted cash flow Lapse (3) 0 % – 9 % (10) Mortality (7) (9) (10) Liabilities Policyholder account balances – indexed annuity contracts embedded derivatives $ (9,013) Discounted cash flow Lapse (3) 0 % – 9 % (10) Mortality (7) (9) (10) MRB liabilities (1,716) Other liabilities – ceded MRBs (239) Discounted cash flow Lapse (3) 1 % – 30 % (10) Utilization of GLB withdrawals (4) 85 % – 100 % 94 % Claims utilization factor (5) 60 % – 100 % (10) Premiums utilization factor (5) 80 % – 115 % (10) Non-performance risk (6) 0.51 % – 2.13 % 1.78 % Mortality (7) (9) (10) Volatility (8) 1 % – 29 % 13.92 % (1) Unobservable inputs were weighted by the relative fair value of the instruments, unless otherwise noted. (2) The liquidity/duration adjustment input represents an estimated market participant composite of adjustments attributable to liquidity premiums, expected durations, structures and credit quality that would be applied to the market observable information of an investment. (3) The lapse input represents the estimated probability of a contract surrendering during a year, and thereby forgoing any future benefits. The range for indexed annuity contracts represents the lapses during the surrender charge period. (4) The utilization of GLB withdrawals input represents the estimated percentage of policyholders that utilize the GLB withdrawal riders. (5) The utilization factors are applied to the present value of claims or premiums, as appropriate, in the MRB calculation to estimate the impact of inefficient GLB withdrawal behavior, including taking less than or more than the maximum GLB withdrawal. (6) The non-performance risk input represents the estimated additional credit spread that market participants would apply to the market observable discount rate when pricing a contract. The non-performance risk input was weighted by the absolute value of the sensitivity of the reserve to the non-performance risk assumption. (7) The mortality input represents the estimated probability of when an individual belonging to a particular group, categorized according to age or some other factor such as gender, will die. (8) The volatility input represents overall volatilities assumed for the underlying variable annuity funds, which include a mixture of equity and fixed-income assets. Volatility assumptions vary by fund due to the benchmarking of different indices. The volatility input was weighted by the relative account balance assigned to each index. (9) The mortality is based on a combination of company and industry experience, adjusted for improvement factors. (10) A weighted average input range is not a meaningful measurement for lapse, utilization factors or mortality.

Shares and Stockholders_ Equi_2

Shares and Stockholders’ Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Schedule of Changes in Preferred	Preferred stock authorized, issued and outstanding (number of shares) was as follows: As of March 31, 2024 As of December 31, 2023 Shares Authorized Shares Issued Shares Outstanding Shares Authorized Shares Issued Shares Outstanding 9.250% Fixed Rate Reset Non-Cumulative Preferred Stock, Series C 20,000 20,000 20,000 20,000 20,000 20,000 9.000% Non-Cumulative Preferred Stock, Series D 20,000 20,000 20,000 20,000 20,000 20,000 Not designated 9,960,000 – – 9,960,000 – – Total preferred shares 10,000,000 40,000 40,000 10,000,000 40,000 40,000 The per share and aggregate dividends declared for preferred stock by series (in millions except per share data) was as follows: For the Three Months Ended March 31, 2024 2023 Dividend Aggregate Dividend Aggregate Series Per Share Dividend Per Share Dividend Series C $ 1,156.25 $ 23 $ 635.94 $ 13 Series D 562.50 11 618.75 12 Total $ 1,718.75 $ 34 $ 1,254.69 $ 25
Schedule of Common Stock Outstanding Roll Forward	The changes in our common stock (number of shares) were as follows: For the Three 2024 2023 Common Stock Balance as of beginning-of-year 169,666,137 169,220,511 Stock compensation/issued for benefit 350,750 317,248 Balance as of end-of-period 170,016,887 169,537,759
Reconciliation of the Denominator Calculations of Basic and Diluted Earnings per Share	e (“EPS”) was as follows (in millions except per share data): For the Three 2024 2023 Net income (loss) available to common stockholders – basic $ 1,187 $ (906) Net income (loss) available to common stockholders – diluted $ 1,191 $ (909) Weighted-average shares, as used in basic calculation 170,049,994 169,357,846 Incremental common shares from assumed exercise or issuance of stock-based incentive compensation awards 1,096,272 573,348 Average deferred compensation shares 688,480 553,966 Weighted-average shares, as used in diluted calculation (1) 171,834,746 170,485,160 Net income (loss) per share: Basic $ 6.98 $ (5.35) Diluted 6.93 (5.37) (1)
Components and Changes in AOCI	The following summarizes the components and changes in AOCI (in millions): For the Three 2024 2023 Unrealized Gain (Loss) on Fixed Maturity AFS Securities and Certain Other Investments Balance as of beginning-of-year $ (5,188) $ (8,916) Unrealized holding gains (losses) arising during the period (1,140) 2,357 Change in foreign currency exchange rate adjustment (103) 76 Change in future contract benefits and policyholder account balances, net of reinsurance 891 (260) Income tax benefit (expense) 71 (465) Less: Reclassification adjustment for gains (losses) included in net income (loss) (55) (39) Income tax benefit (expense) 12 8 Balance as of end-of-period $ (5,426) $ (7,177) Unrealized Gain (Loss) on Derivative Instruments Balance as of beginning-of-year $ 375 $ 388 Unrealized holding gains (losses) arising during the period 64 134 Change in foreign currency exchange rate adjustment 101 (67) Income tax benefit (expense) (35) (15) Less: Reclassification adjustment for gains (losses) included in net income (loss) 24 22 Income tax benefit (expense) (5) (5) Balance as of end-of-period $ 486 $ 423 Market Risk Benefit Non-Performance Risk Gain (Loss) Balance as of beginning-of-year $ 1,070 $ 1,741 Adjustment arising during the period (590) 1,306 Income tax benefit (expense) 126 (281) Balance as of end-of-period $ 606 $ 2,766 Policyholder Liability Discount Rate Remeasurement Gain (Loss) Balance as of beginning-of-year $ 587 $ 747 Adjustment arising during the period 147 (258) Income tax benefit (expense) (31) 56 Balance as of end-of-period $ 703 $ 545 Foreign Currency Translation Adjustment Balance as of beginning-of-year $ (26) $ (34) Foreign currency translation adjustment arising during the period (1) 3 Balance as of end-of-period $ (27) $ (31) Funded Status of Employee Benefit Plans Balance as of beginning-of-year $ (294) $ (278) Adjustment arising during the period 1 (2) Balance as of end-of-period $ (293) $ (280)
Schedule of Reclassifications Out of AOCI	The following summarizes the reclassifications out of AOCI (in millions) and the associated line item in the Consolidated Statements of Comprehensive Income (Loss): For the Three 2024 2023 Unrealized Gain (Loss) on Fixed Maturity AFS Securities and Certain Other Investments Reclassification $ (54) $ (39) Realized gain (loss) Associated change in future contract benefits (1) – Benefits Reclassification before income tax benefit (expense) (55) (39) Income (loss) before taxes Income tax benefit (expense) 12 8 Federal income tax expense (benefit) Reclassification, net of income tax $ (43) $ (31) Net income (loss) Unrealized Gain (Loss) on Derivative Instruments Interest rate contracts 9 6 Interest and debt expense Foreign currency contracts 15 14 Net investment income Foreign currency contracts – 2 Realized gain (loss) Reclassifications before income tax benefit (expense) 24 22 Income (loss) before taxes Income tax benefit (expense) (5) (5) Federal income tax expense (benefit) Reclassifications, net of income tax $ 19 $ 17 Net income (loss)

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	The tables below reconcile our segment measures of performance to the GAAP measures presented in the Consolidated Statements of Comprehensive Income (Loss) (in millions): For the Three 2024 2023 Revenues Operating revenues: Annuities $ 1,269 $ 1,141 Life Insurance 1,541 1,757 Group Protection 1,425 1,388 Retirement Plan Services 322 328 Other Operations 27 43 Revenue adjustments from annuity and life insurance product features (580) (773) Credit loss-related adjustments (1) (22) Investment gains (losses) (81) (57) Changes in the fair value of reinsurance-related embedded derivatives, trading securities and certain mortgage loans (1) 194 9 Total revenues $ 4,116 $ 3,814
Reconciliation of Income (Loss) from Operations by Segment to Consolidated Net Income (Loss)	For the Three 2024 2023 Net Income (Loss) Income (loss) from operations: Annuities $ 259 $ 274 Life Insurance (35) (13) Group Protection 80 71 Retirement Plan Services 36 43 Other Operations (235) (87) Net annuity product features, after-tax 1,141 (1,018) Net life insurance product features, after-tax (103) (95) Credit loss-related adjustments, after-tax (1) (18) Investment gains (losses), after-tax (65) (45) Changes in the fair value of reinsurance-related embedded derivatives, trading securities and certain mortgage loans, after-tax (1) 153 7 Transaction and integration costs related to mergers, acquisitions and divestitures, after-tax (2) (8) – Net income (loss) $ 1,222 $ (881) (1) Includes primarily changes in the fair value of the embedded derivative related to the fourth quarter 2023 reinsurance transaction. For more information, see Note 7 (2) Includes costs pertaining to the planned sale of our wealth management business and the fourth quarter 2023 reinsurance transaction. For more information, see Note 1 7
Reconciliation of Assets from Segment to Consolidated	Other segment information (in millions) was as follows: As of As of 2024 2023 Assets Annuities $ 194,359 $ 185,599 Life Insurance 111,102 108,932 Group Protection 9,759 9,714 Retirement Plan Services 47,728 46,793 Other Operations 20,433 21,375 Total assets $ 383,381 $ 372,413

Realized Gain (Loss) (Tables)

Realized Gain (Loss) (Tables)	3 Months Ended
	Mar. 31, 2024
Realized Gain (Loss) [Abstract]
Schedule of Realized Gain (Loss)	Details underlying realized gain (loss) (in millions) were as follows: For the Three 2024 2023 Fixed maturity AFS securities: Gross gains $ 7 $ 26 Gross losses (61) (65) Credit loss benefit (expense) (1) (2) (17) Realized gain (loss) on equity securities (2) 11 (14) Credit loss benefit (expense) on mortgage loans on real estate – (4) Credit loss benefit (expense) on reinsurance-related assets 1 (1) Realized gain (loss) on the mark-to-market on certain instruments (3)(4) 12 (111) Indexed product derivative results (5) 145 (153) Derivative results (6) (548) (477) Other realized gain (loss) 1 (12) Total realized gain (loss) $ (434) $ (828) (1) Includes changes in the allowance for credit losses as well as direct write-downs to amortized cost as a result of negative credit events. (2) Includes mark-to-market adjustments on equity securities still held of $11 million and $(14) million for the three months ended March 31, 2024 and 2023, respectively. (3) Represents changes in the fair values of derivatives we hold as part of VUL hedging, reinsurance-related embedded derivatives and trading securities. (4) Includes gains and losses from fair value changes on mortgage loans on real estate accounted for under the fair value option of less than $1 million and $2 million for the three months ended March 31, 2024 and 2023, respectively. (5) Represents the change in fair value of the index options that we hold and the change in the fair value of the embedded derivative liabilities of our indexed annuity and IUL contracts, and the associated index options to hedge policyholder index allocations applicable to future reset periods for our indexed annuity products. (6)

Nature of Operations and Basi_4

Nature of Operations and Basis of Presentation (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments | segment	4
Assets classified as held for sale	$ 155	$ 131
Liabilities classified as held for sale	81	$ 60
Assets classified as held for sale, cash and invested cash	$ 71

Investments - Reconciliation of

Investments - Reconciliation of Available-for-Sale Securities from Cost Basis to Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	$ 97,546	$ 97,433
Gross Unrealized Gains	820	1,091
Gross Unrealized Losses	10,581	9,767
Allowance for Credit Losses	21	19	$ 39	$ 22
Fair Value	87,764	88,738
Corporate bonds
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	76,968	77,085
Gross Unrealized Gains	640	852
Gross Unrealized Losses	9,065	8,272
Allowance for Credit Losses	10	8	27	9
Fair Value	68,533	69,657
U.S. government bonds
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	422	416
Gross Unrealized Gains	4	6
Gross Unrealized Losses	35	29
Allowance for Credit Losses	0	0
Fair Value	391	393
State and municipal bonds
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	3,097	3,106
Gross Unrealized Gains	46	101
Gross Unrealized Losses	400	417
Allowance for Credit Losses	0	0
Fair Value	2,743	2,790
Foreign government bonds
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	304	314
Gross Unrealized Gains	12	16
Gross Unrealized Losses	53	47
Allowance for Credit Losses	0	0
Fair Value	263	283
RMBS
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	1,962	1,948
Gross Unrealized Gains	20	28
Gross Unrealized Losses	217	197
Allowance for Credit Losses	6	6	$ 6	$ 7
Fair Value	1,759	1,773
CMBS
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	1,658	1,622
Gross Unrealized Gains	4	5
Gross Unrealized Losses	178	203
Allowance for Credit Losses	0	0
Fair Value	1,484	1,424
ABS
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	12,903	12,698
Gross Unrealized Gains	71	62
Gross Unrealized Losses	621	585
Allowance for Credit Losses	4	4
Fair Value	12,349	12,171
Hybrid and redeemable preferred securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	232	244
Gross Unrealized Gains	23	21
Gross Unrealized Losses	12	17
Allowance for Credit Losses	1	1
Fair Value	$ 242	$ 247

Investments - Available-for-Sal

Investments - Available-for-Sale Securities by Contractual Maturities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Amortized Cost
Amortized Cost	$ 97,546	$ 97,433
Fair Value
Total fixed maturity AFS securities	87,764	$ 88,738
Fixed maturity AFS securities other than structured securities
Amortized Cost
Due in one year or less	4,615
Due after one year through five years	17,551
Due after five years through ten years	14,424
Due after ten years	44,433
Amortized Cost	81,023
Fair Value
Due in one year or less	4,574
Due after one year through five years	16,871
Due after five years through ten years	13,180
Due after ten years	37,547
Total fixed maturity AFS securities	72,172
Structured securities (RMBS, CMBS, ABS)
Amortized Cost
Amortized Cost	16,523
Fair Value
Total fixed maturity AFS securities	$ 15,592

Investments - Fair Value and Gr

Investments - Fair Value and Gross Unrealized Losses in a Continuous Unrealized Loss Position (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024 USD ($) security	Dec. 31, 2023 USD ($) security
Fair Value
Less Than or Equal to Twelve Months	$ 28,311	$ 17,427
Greater Than Twelve Months	42,533	44,508
Total	70,844	61,935
Gross Unrealized Losses
Less Than or Equal to Twelve Months	4,933	3,526
Greater Than Twelve Months	5,648	6,241
Total	$ 10,581	$ 9,767
Total number of fixed maturity AFS securities in an unrealized loss position | security	7,485	7,605
Unrealized holding gains (losses) arising during the period	$ 12	$ 8
Corporate bonds
Fair Value
Less Than or Equal to Twelve Months	23,895	14,005
Greater Than Twelve Months	33,636	34,595
Total	57,531	48,600
Gross Unrealized Losses
Less Than or Equal to Twelve Months	4,432	3,270
Greater Than Twelve Months	4,633	5,002
Total	9,065	8,272
U.S. government bonds
Fair Value
Less Than or Equal to Twelve Months	102	65
Greater Than Twelve Months	188	195
Total	290	260
Gross Unrealized Losses
Less Than or Equal to Twelve Months	9	6
Greater Than Twelve Months	26	23
Total	35	29
State and municipal bonds
Fair Value
Less Than or Equal to Twelve Months	894	371
Greater Than Twelve Months	895	874
Total	1,789	1,245
Gross Unrealized Losses
Less Than or Equal to Twelve Months	222	72
Greater Than Twelve Months	178	345
Total	400	417
Foreign government bonds
Fair Value
Less Than or Equal to Twelve Months	107	111
Greater Than Twelve Months	66	57
Total	173	168
Gross Unrealized Losses
Less Than or Equal to Twelve Months	30	31
Greater Than Twelve Months	23	16
Total	53	47
RMBS
Fair Value
Less Than or Equal to Twelve Months	620	360
Greater Than Twelve Months	907	886
Total	1,527	1,246
Gross Unrealized Losses
Less Than or Equal to Twelve Months	76	20
Greater Than Twelve Months	141	177
Total	217	197
CMBS
Fair Value
Less Than or Equal to Twelve Months	677	583
Greater Than Twelve Months	621	589
Total	1,298	1,172
Gross Unrealized Losses
Less Than or Equal to Twelve Months	70	56
Greater Than Twelve Months	108	147
Total	178	203
ABS
Fair Value
Less Than or Equal to Twelve Months	1,998	1,900
Greater Than Twelve Months	6,118	7,217
Total	8,116	9,117
Gross Unrealized Losses
Less Than or Equal to Twelve Months	91	68
Greater Than Twelve Months	530	517
Total	621	585
Hybrid and redeemable preferred securities
Fair Value
Less Than or Equal to Twelve Months	18	32
Greater Than Twelve Months	102	95
Total	120	127
Gross Unrealized Losses
Less Than or Equal to Twelve Months	3	3
Greater Than Twelve Months	9	14
Total	$ 12	$ 17

Investments - Schedule of Avail

Investments - Schedule of Available-for-Sale Securities Whose Value is Below Amortized Cost (Details) $ in Millions	Mar. 31, 2024 USD ($) security	Dec. 31, 2023 USD ($) security
Fair Value
Nine months or greater, but less than twelve months	$ 28,311	$ 17,427
Twelve months or greater	42,533	44,508
Total	70,844	61,935
Gross Unrealized Losses
Nine months or greater, but less than twelve months	4,933	3,526
Twelve months or greater	5,648	6,241
Total	$ 10,581	$ 9,767
Number of Securities
Total | security	7,485	7,605
Fair Value Decline, Greater Than 20%
Fair Value
Less than six months	$ 3,759	$ 2,492
Six months or greater, but less than nine months	423	343
Nine months or greater, but less than twelve months	275	336
Twelve months or greater	3,709	4,094
Total	8,166	7,265
Gross Unrealized Losses
Less than six months	1,318	927
Six months or greater, but less than nine months	158	96
Nine months or greater, but less than twelve months	86	109
Twelve months or greater	1,517	2,922
Total	$ 3,079	$ 4,054
Number of Securities
Less than six months | security	697	533
Six months or greater, but less than nine months | security	131	79
Nine months or greater, but less than twelve months | security	68	90
Twelve months or greater | security	740	997
Total | security	1,636	1,699

Investments - Narrative (Detail

Investments - Narrative (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2024 USD ($) loan investment	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) loan investment
Investments [Line Items]
Increase in gross AFS securities unrealized losses	$ 814,000,000
Percentage of fair value rated as investment grade	96%		96%
Mortgage loans in process of foreclosure	$ 35,000,000		$ 38,000,000
Losses from loan modifications	$ 0	$ 0
Number of partnerships in alternative investment portfolio | investment	358		352
Alternative investments as a percentage of overall invested assets	3%		3%
Fair value of collateral received that we are permitted to sell or re-pledge	$ 25,000,000
Fixed maturity available-for-sale securities, at fair value	87,764,000,000		$ 88,738,000,000
Investment commitments	3,800,000,000
Investment commitments for limited partnerships	2,900,000,000
Investment commitments for mortgage loans on real estate	748,000,000
Investment commitments for private placements	199,000,000
Asset Pledged as Collateral
Investments [Line Items]
Fixed maturity available-for-sale securities, at fair value	52,000,000
Derivative Counterparties
Investments [Line Items]
Fair value of collateral received that we are permitted to sell or re-pledge	1,700,000,000
Fair value of securities received as collateral that have been resold or repledged	$ 527,000,000
Minimum
Investments [Line Items]
Percentage of the fair value of securities obtained as collateral under reverse repurchase agreements	80%
Maximum
Investments [Line Items]
Percentage of the fair value of securities obtained as collateral under reverse repurchase agreements	95%
Residential mortgage loans on real estate
Investments [Line Items]
Number of loans past due | loan	118		116
Number of loans in foreclosure | loan	82		82
California | Mortgages | Geographic Concentration Risk | Commercial
Investments [Line Items]
Concentration risk	26%		27%
California | Mortgages | Geographic Concentration Risk | Residential mortgage loans on real estate
Investments [Line Items]
Concentration risk	14%		14%
Texas | Mortgages | Geographic Concentration Risk | Commercial
Investments [Line Items]
Concentration risk	10%		9%
New York | Mortgages | Geographic Concentration Risk | Residential mortgage loans on real estate
Investments [Line Items]
Concentration risk	12%		12%
Corporate bonds
Investments [Line Items]
Amortized cost of portfolio rated below investment grade	$ 2,800,000,000		$ 3,000,000,000
Fair value of portfolio rated below investment grade	2,700,000,000		2,800,000,000
Fannie Mae | MBS
Investments [Line Items]
Fair value, concentration of risk, investments	$ 741,000,000		$ 739,000,000
Fannie Mae | Investments | Lender Concentration Risk | MBS
Investments [Line Items]
Concentration risk	1%		1%
Federal Home Loan Mortgage Corporation | MBS
Investments [Line Items]
Fair value, concentration of risk, investments	$ 567,000,000		$ 570,000,000
Federal Home Loan Mortgage Corporation | Investments | Lender Concentration Risk | MBS
Investments [Line Items]
Concentration risk	1%		1%
Financial Service | Securities Investment
Investments [Line Items]
Fair value, concentration of risk, investments	$ 13,700,000,000		$ 14,000,000,000
Financial Service | Investments | Lender Concentration Risk | Securities Investment
Investments [Line Items]
Concentration risk			11%
Consumer Non-Cyclical Industry | Securities Investment
Investments [Line Items]
Fair value, concentration of risk, investments	$ 13,500,000,000		$ 13,800,000,000
Consumer Non-Cyclical Industry | Investments | Lender Concentration Risk | Securities Investment
Investments [Line Items]
Concentration risk	11%

Investments - Changes in Allowa

Investments - Changes in Allowance for Credit Losses on AFS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Debt Securities, Available-for-Sale, Allowance for Credit Loss [Roll Forward]
Balance as of beginning-of-year	$ 19	$ 22
Additions from purchases of PCD debt securities	0	0
Additions for securities for which credit losses were not previously recognized	1	19
Additions (reductions) for securities for which credit losses were previously recognized	2	(1)
Reductions for disposed securities	(1)	(1)
Balance as of end-of-period	21	39
Accrued interest receivable on fixed maturity AFS securities	943	1,100
Corporate bonds
Debt Securities, Available-for-Sale, Allowance for Credit Loss [Roll Forward]
Balance as of beginning-of-year	8	9
Additions from purchases of PCD debt securities	0	0
Additions for securities for which credit losses were not previously recognized	1	19
Additions (reductions) for securities for which credit losses were previously recognized	2	0
Reductions for disposed securities	(1)	(1)
Balance as of end-of-period	10	27
RMBS
Debt Securities, Available-for-Sale, Allowance for Credit Loss [Roll Forward]
Balance as of beginning-of-year	6	7
Additions from purchases of PCD debt securities	0	0
Additions for securities for which credit losses were not previously recognized	0	0
Additions (reductions) for securities for which credit losses were previously recognized	0	(1)
Reductions for disposed securities	0	0
Balance as of end-of-period	6	6
Other
Debt Securities, Available-for-Sale, Allowance for Credit Loss [Roll Forward]
Balance as of beginning-of-year	5	6
Additions from purchases of PCD debt securities	0	0
Additions for securities for which credit losses were not previously recognized	0	0
Additions (reductions) for securities for which credit losses were previously recognized	0	0
Reductions for disposed securities	0	0
Balance as of end-of-period	$ 5	$ 6

Investments - Composition of Cu

Investments - Composition of Current and Past Due Mortgage Loans on Real Estate (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Loans and Leases Receivable Disclosure [Line Items]
Allowance for credit losses	$ (115)	$ (114)
Unamortized premium (discount)	41	36
Mark-to-market gains (losses)	(37)	(38)
Total carrying value	19,266	18,963
Current
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans on real estate, gross	19,205	18,921
30 to 59 days past due
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans on real estate, gross	41	89
60 to 89 days past due
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans on real estate, gross	12	9
90 or more days past due
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans on real estate, gross	119	60
Commercial
Loans and Leases Receivable Disclosure [Line Items]
Allowance for credit losses	(84)	(86)
Unamortized premium (discount)	(7)	(7)
Mark-to-market gains (losses)	(38)	(37)
Total carrying value	17,309	17,187
Commercial | Current
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans on real estate, gross	17,372	17,256
Commercial | 30 to 59 days past due
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans on real estate, gross	4	61
Commercial | 60 to 89 days past due
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans on real estate, gross	2	0
Commercial | 90 or more days past due
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans on real estate, gross	60	0
Residential mortgage loans on real estate
Loans and Leases Receivable Disclosure [Line Items]
Allowance for credit losses	(31)	(28)
Unamortized premium (discount)	48	43
Mark-to-market gains (losses)	1	(1)
Total carrying value	1,957	1,776
Residential mortgage loans on real estate | Current
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans on real estate, gross	1,833	1,665
Residential mortgage loans on real estate | 30 to 59 days past due
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans on real estate, gross	37	28
Residential mortgage loans on real estate | 60 to 89 days past due
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans on real estate, gross	10	9
Residential mortgage loans on real estate | 90 or more days past due
Loans and Leases Receivable Disclosure [Line Items]
Mortgage loans on real estate, gross	$ 59	$ 60

Investments - Amortized Cost of

Investments - Amortized Cost of Mortgage Loans on Real Estate on Nonaccrual Status (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual with no Allowance for Credit Losses	$ 60	$ 0
Nonaccrual	61	62
Commercial mortgage loans on real estate
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual with no Allowance for Credit Losses	60	0
Nonaccrual	0	0
Residential mortgage loans on real estate
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual with no Allowance for Credit Losses	0	0
Nonaccrual	$ 61	$ 62

Investments - Commercial Mortga

Investments - Commercial Mortgage Loans by Year of Origination (Details) - Commercial $ in Millions	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Origination Year
Year one	$ 351	$ 1,422
Year two	1,423	1,850
Year three	1,844	2,396
Year four	2,388	1,225
Year five	1,196	2,536
Year six and prior	10,229	7,881
Total	17,431	17,310
Less than 65%
Origination Year
Year one	333	1,368
Year two	1,373	1,710
Year three	1,735	2,335
Year four	2,335	1,214
Year five	1,190	2,446
Year six and prior	10,079	7,789
Total	$ 17,045	$ 16,862
Debt-Service Coverage Ratio
Year one	2.64	1.90
Year two	1.90	2.06
Year three	2.05	3.34
Year four	3.34	3.24
Year five	3.22	2.40
Year six and prior	2.57	2.39
65% to 75%
Origination Year
Year one	$ 18	$ 54
Year two	50	140
Year three	104	61
Year four	53	11
Year five	6	80
Year six and prior	142	78
Total	$ 373	$ 424
Debt-Service Coverage Ratio
Year one	1.31	1.38
Year two	1.35	1.54
Year three	1.59	1.55
Year four	1.54	1.38
Year five	1.43	1.56
Year six and prior	1.59	1.60
Greater than 75%
Origination Year
Year one	$ 0	$ 0
Year two	0	0
Year three	5	0
Year four	0	0
Year five	0	10
Year six and prior	8	14
Total	$ 13	$ 24
Debt-Service Coverage Ratio
Year one	0	0
Year two	0	0
Year three	1.33	0
Year four	0	0
Year five	0	2.33
Year six and prior	1.30	0.87

Investments - Residential Mortg

Investments - Residential Mortgage Loans by Year of Origination (Details) - Residential - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 54	$ 517
Year two	670	555
Year three	548	483
Year four	475	81
Year five	78	112
Year six and prior	162	57
Total	1,987	1,805
Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	54	515
Year two	665	533
Year three	525	465
Year four	459	78
Year five	76	99
Year six and prior	147	53
Total	1,926	1,743
Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	0	2
Year two	5	22
Year three	23	18
Year four	16	3
Year five	2	13
Year six and prior	15	4
Total	$ 61	$ 62

Investments - Changes in Allo_2

Investments - Changes in Allowance for Credit Losses on Mortgage Loans on Real Estate (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of beginning-of-year	$ 114,000,000
Additions (reductions) from provision for credit loss expense	0	$ 4,000,000
Balance as of end-of-year	115,000,000
Accrued interest receivable excluded from credit losses	69,000,000	52,000,000
Mortgage loans on real estate
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of beginning-of-year	114,000,000	99,000,000
Additions (reductions) from provision for credit loss expense	1,000,000	4,000,000
Additions from purchases of PCD mortgage loans on real estate	0	0
Balance as of end-of-year	115,000,000	103,000,000
Credit loss expense (reversal)	1,000,000	0
Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of beginning-of-year	86,000,000
Balance as of end-of-year	84,000,000
Commercial | Mortgage loans on real estate
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of beginning-of-year	86,000,000	84,000,000
Additions (reductions) from provision for credit loss expense	(2,000,000)	(1,000,000)
Additions from purchases of PCD mortgage loans on real estate	0	0
Balance as of end-of-year	84,000,000	83,000,000
Residential
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of beginning-of-year	28,000,000
Balance as of end-of-year	31,000,000
Residential | Mortgage loans on real estate
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of beginning-of-year	28,000,000	15,000,000
Additions (reductions) from provision for credit loss expense	3,000,000	5,000,000
Additions from purchases of PCD mortgage loans on real estate	0	0
Balance as of end-of-year	$ 31,000,000	$ 20,000,000

Investments - Credit Loss Expen

Investments - Credit Loss Expense Incurred (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Debt Securities, Available-for-Sale, Allowance for Credit Loss [Line Items]
Total credit loss benefit (expense)	$ (1)	$ (19)
Realized Gain (Loss)
Debt Securities, Available-for-Sale, Allowance for Credit Loss [Line Items]
Total credit loss benefit (expense)	(2)	(17)
Corporate bonds
Debt Securities, Available-for-Sale, Allowance for Credit Loss [Line Items]
Total credit loss benefit (expense)	(1)	(19)
Corporate bonds | Realized Gain (Loss)
Debt Securities, Available-for-Sale, Allowance for Credit Loss [Line Items]
Total credit loss benefit (expense)	(2)	(18)
RMBS
Debt Securities, Available-for-Sale, Allowance for Credit Loss [Line Items]
Total credit loss benefit (expense)	0	0
RMBS | Realized Gain (Loss)
Debt Securities, Available-for-Sale, Allowance for Credit Loss [Line Items]
Total credit loss benefit (expense)	$ 0	$ 1

Investments - Payables for Coll

Investments - Payables for Collateral on Investments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Carrying Value
Collateral payable for derivative investments	$ 6,934	$ 5,250
Securities pledged under securities lending agreements	283	205
Investments pledged for FHLBI	2,900	2,650
Total payables for collateral on investments	10,117	8,105
Fair Value
Collateral payable for derivative investments	6,934	5,250
Securities pledged under securities lending agreements	274	197
Investments pledged for Federal Home Loan Bank of Indianapolis('FHLBI')	4,032	3,603
Total payables for collateral on investments	$ 11,240	$ 9,050
Percentage of the fair value of domestic securities obtained as collateral under securities lending agreements.	102%
Percentage of the fair value of foreign securities obtained as collateral under securities lending agreements.	105%
Minimum
Fair Value
Percentage of the fair value of FHLBI securities obtained as collateral under securities pledged for FHLBI for AFS Securities	105%
Percentage of the fair value of FHLBI securities obtained as collateral under securities pledged for FHLBI for mortgage loan	155%
Maximum
Fair Value
Percentage of the fair value of FHLBI securities obtained as collateral under securities pledged for FHLBI for AFS Securities	115%
Percentage of the fair value of FHLBI securities obtained as collateral under securities pledged for FHLBI for mortgage loan	175%

Investments - Schedule of Incre

Investments - Schedule of Increase (Decrease) in Payables for Collateral on Investments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Investments [Abstract]
Collateral payable for derivative investments	$ 1,684	$ 268
Securities pledged under securities lending agreements	78	(2)
Investments pledged for FHLBI	250	(175)
Total increase (decrease) in payables for collateral on investments	$ 2,012	$ 91

Investments - Schedule of Secur

Investments - Schedule of Securities Pledged by Contractual Maturity (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities pledged under securities lending agreements	$ 283	$ 205
Total gross secured borrowings	283	205
Corporate bonds
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities pledged under securities lending agreements	276	202
Foreign government bonds
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities pledged under securities lending agreements	1
Equity securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities pledged under securities lending agreements	6	3
Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total gross secured borrowings	283	205
Overnight and Continuous | Corporate bonds
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities pledged under securities lending agreements	276	202
Overnight and Continuous | Foreign government bonds
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities pledged under securities lending agreements	1
Overnight and Continuous | Equity securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities pledged under securities lending agreements	6	3
Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total gross secured borrowings	0	0
Up to 30 Days | Corporate bonds
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities pledged under securities lending agreements	0	0
Up to 30 Days | Foreign government bonds
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities pledged under securities lending agreements	0
Up to 30 Days | Equity securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities pledged under securities lending agreements	0	0
30-90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total gross secured borrowings	0	0
30-90 Days | Corporate bonds
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities pledged under securities lending agreements	0	0
30-90 Days | Foreign government bonds
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities pledged under securities lending agreements	0
30-90 Days | Equity securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities pledged under securities lending agreements	0	0
Greater Than 90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total gross secured borrowings	0	0
Greater Than 90 Days | Corporate bonds
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities pledged under securities lending agreements	0	0
Greater Than 90 Days | Foreign government bonds
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities pledged under securities lending agreements	0
Greater Than 90 Days | Equity securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities pledged under securities lending agreements	$ 0	$ 0

Variable Interest Entities - Co

Variable Interest Entities - Consolidated Variable Interest Entity Asset and Liability Information (Details) $ in Millions	Mar. 31, 2024 USD ($) instrument	Dec. 31, 2023 USD ($) instrument
Disclosure of Variable Interest Entities Assets and Liabilities [Line Items]
Carrying Value	$ 8,394	$ 6,474
Variable Interest Entity, Primary Beneficiary
Disclosure of Variable Interest Entities Assets and Liabilities [Line Items]
Number of Instruments | instrument	1	1
Notional Amounts	$ 529	$ 544
Carrying Value	$ 0	$ 0

Variable Interest Entities - Na

Variable Interest Entities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Variable Interest Entity [Line Items]
Other comprehensive income (loss), net of tax	$ (475)	$ 2,598
Other investments	5,256		$ 5,015
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Other comprehensive income (loss), net of tax	0	$ 0
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Other investments	$ 4,500		$ 4,200

Derivative Instruments - Outsta

Derivative Instruments - Outstanding Derivative Instruments With Off-Balance-Sheet Risks (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Outstanding derivative instruments with off-balance-sheet risks
Notional Amounts	$ 311,720	$ 324,318
Gross amount of recognized assets	16,284	12,436
Gross amount of recognized liabilities	18,354	15,006
Interest rate contracts
Outstanding derivative instruments with off-balance-sheet risks
Notional Amounts	75,251
Foreign currency contracts
Outstanding derivative instruments with off-balance-sheet risks
Notional Amounts	5,117
Equity market contracts
Outstanding derivative instruments with off-balance-sheet risks
Notional Amounts	231,313
Credit contracts
Outstanding derivative instruments with off-balance-sheet risks
Notional Amounts	39
Qualifying Hedges | Cash flow hedges
Outstanding derivative instruments with off-balance-sheet risks
Notional Amounts	6,305	6,360
Gross amount of recognized assets	709	604
Gross amount of recognized liabilities	88	125
Qualifying Hedges | Cash flow hedges | Interest rate contracts
Outstanding derivative instruments with off-balance-sheet risks
Notional Amounts	1,583	1,698
Gross amount of recognized assets	242	181
Gross amount of recognized liabilities	28	47
Qualifying Hedges | Cash flow hedges | Foreign currency contracts
Outstanding derivative instruments with off-balance-sheet risks
Notional Amounts	4,722	4,662
Gross amount of recognized assets	467	423
Gross amount of recognized liabilities	60	78
Qualifying Hedges | Fair value hedges
Outstanding derivative instruments with off-balance-sheet risks
Notional Amounts	1,101	1,106
Gross amount of recognized assets	2	1
Gross amount of recognized liabilities	32	40
Qualifying Hedges | Fair value hedges | Interest rate contracts
Outstanding derivative instruments with off-balance-sheet risks
Notional Amounts	1,076	1,081
Gross amount of recognized assets	2	1
Gross amount of recognized liabilities	32	39
Qualifying Hedges | Fair value hedges | Foreign currency contracts
Outstanding derivative instruments with off-balance-sheet risks
Notional Amounts	25	25
Gross amount of recognized assets	0	0
Gross amount of recognized liabilities	0	1
Non-Qualifying Hedges | Interest rate contracts
Outstanding derivative instruments with off-balance-sheet risks
Notional Amounts	72,592	90,829
Gross amount of recognized assets	771	636
Gross amount of recognized liabilities	1,027	979
Non-Qualifying Hedges | Foreign currency contracts
Outstanding derivative instruments with off-balance-sheet risks
Notional Amounts	370	306
Gross amount of recognized assets	13	11
Gross amount of recognized liabilities	3	6
Non-Qualifying Hedges | Equity market contracts
Outstanding derivative instruments with off-balance-sheet risks
Notional Amounts	231,313	225,626
Gross amount of recognized assets	13,816	10,244
Gross amount of recognized liabilities	5,953	4,227
Non-Qualifying Hedges | Credit contracts
Outstanding derivative instruments with off-balance-sheet risks
Notional Amounts	39	91
Gross amount of recognized assets	0	0
Gross amount of recognized liabilities	0	0
Non-Qualifying Hedges | Reinsurance-related
Outstanding derivative instruments with off-balance-sheet risks
Notional Amounts	0	0
Gross amount of recognized assets	0	0
Gross amount of recognized liabilities	355	552
Non-Qualifying Hedges | RILA, fixed indexed annuity and IUL contracts
Outstanding derivative instruments with off-balance-sheet risks
Notional Amounts	0	0
Gross amount of recognized assets	973	940
Gross amount of recognized liabilities	$ 10,896	$ 9,077

Derivative Instruments - Maturi

Derivative Instruments - Maturity of the Notional Amounts of Derivative Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Maturity of the notional amounts of derivative financial instruments
Less Than 1 Year	$ 196,178
1 – 5 Years	54,521
6 - 10 Years	31,636
11 - 30 Years	24,342
Over 30 Years	5,043
Total	311,720	$ 324,318
Interest rate contracts
Maturity of the notional amounts of derivative financial instruments
Less Than 1 Year	9,795
1 – 5 Years	19,247
6 - 10 Years	22,649
11 - 30 Years	22,347
Over 30 Years	1,213
Total	75,251
Foreign currency contracts
Maturity of the notional amounts of derivative financial instruments
Less Than 1 Year	356
1 – 5 Years	1,007
6 - 10 Years	1,725
11 - 30 Years	1,987
Over 30 Years	42
Total	5,117
Equity market contracts
Maturity of the notional amounts of derivative financial instruments
Less Than 1 Year	186,027
1 – 5 Years	34,228
6 - 10 Years	7,262
11 - 30 Years	8
Over 30 Years	3,788
Total	231,313
Credit contracts
Maturity of the notional amounts of derivative financial instruments
Less Than 1 Year	0
1 – 5 Years	39
6 - 10 Years	0
11 - 30 Years	0
Over 30 Years	0
Total	$ 39

Derivative Instruments - Cumula

Derivative Instruments - Cumulative Basis Adjustments for Fair Value Hedges (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Amortized cost of the hedged assets	$ 510	$ 534
Amortized cost of the hedged liabilities	(686)	(703)
Cumulative fair value hedging adjustment included in the amortized cost of the hedged assets	21	39
Cumulative fair value hedging adjustment included in the amortized cost of the hedged assets (liabilities)	189	172
Discontinued Hedges
Derivatives, Fair Value [Line Items]
Cumulative fair value hedging adjustment included in the amortized cost of the hedged assets (liabilities)	$ (322)	$ (326)

Derivative Instruments - Change

Derivative Instruments - Change in Our Unrealized Gain on Derivative Instruments in AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Change in our unrealized gain on derivative instruments in accumulated OCI
Balance as of beginning-of-year	$ 6,893
Balance as of end-of-period	7,546	$ 6,732
Unrealized Gain (Loss) on Derivative Instruments
Change in our unrealized gain on derivative instruments in accumulated OCI
Balance as of beginning-of-year	375	388
Income tax benefit (expense)	(35)	(15)
Reclassification adjustment for gains (losses) included in net income (loss)	24	22
Income tax benefit (expense)	(5)	(5)
Balance as of end-of-period	486	423
Unrealized Gain (Loss) on Derivative Instruments | Interest rate contracts | Interest and Debt Expense
Change in our unrealized gain on derivative instruments in accumulated OCI
Reclassification adjustment for gains (losses) included in net income (loss)	9	6
Unrealized Gain (Loss) on Derivative Instruments | Foreign currency contracts | Net Investment Income
Change in our unrealized gain on derivative instruments in accumulated OCI
Reclassification adjustment for gains (losses) included in net income (loss)	15	14
Unrealized Gain (Loss) on Derivative Instruments | Foreign currency contracts | Realized Gain (Loss)
Change in our unrealized gain on derivative instruments in accumulated OCI
Reclassification adjustment for gains (losses) included in net income (loss)	0	2
Unrealized holding gains (losses) arising during the year
Change in our unrealized gain on derivative instruments in accumulated OCI
Changes arising during the year	64	134
Unrealized holding gains (losses) arising during the year | Interest rate contracts
Change in our unrealized gain on derivative instruments in accumulated OCI
Changes arising during the year	89	58
Unrealized holding gains (losses) arising during the year | Foreign currency contracts
Change in our unrealized gain on derivative instruments in accumulated OCI
Changes arising during the year	(25)	76
Change in foreign currency exchange rate adjustment
Change in our unrealized gain on derivative instruments in accumulated OCI
Changes arising during the year	$ 101	$ (67)

Derivative Instruments - Effect

Derivative Instruments - Effects of Qualifying and Non-Qualifying Hedges (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Realized gain (loss)	$ (434)	$ (828)
Net investment income	1,346	1,466
Interest and debt expense	81	83
Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Realized gain (loss)	(434)	(828)
Net investment income	1,346	1,466
Interest and debt expense	81	83
Realized Gain (Loss) | Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate contracts, amount of gain or (loss) reclassified from AOCI into income	0	0
Foreign currency contracts, amount of gain or (loss) reclassified from AOCI into income	0	2
Realized Gain (Loss) | Interest rate contracts | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	(163)	332
Realized Gain (Loss) | Foreign currency contracts | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	0	(1)
Realized Gain (Loss) | Equity market contracts | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	2,134	(53)
Realized Gain (Loss) | Commodity contracts | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	0	11
Realized Gain (Loss) | Credit contracts | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	0	(1)
Realized Gain (Loss) | Reinsurance-related | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	197	(49)
Realized Gain (Loss) | RILA, fixed indexed annuity and IUL contracts | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	(1,642)	(713)
Net Investment Income | Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate contracts, amount of gain or (loss) reclassified from AOCI into income	0	0
Foreign currency contracts, amount of gain or (loss) reclassified from AOCI into income	15	14
Net Investment Income | Interest rate contracts | Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Hedged items	(18)	16
Derivatives designated as hedging instruments	18	(16)
Net Investment Income | Interest rate contracts | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	0	0
Net Investment Income | Foreign currency contracts | Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Hedged items	(1)	0
Derivatives designated as hedging instruments	1	0
Net Investment Income | Foreign currency contracts | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	0	0
Net Investment Income | Equity market contracts | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	0	0
Net Investment Income | Commodity contracts | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	0	0
Net Investment Income | Credit contracts | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	0	0
Net Investment Income | Reinsurance-related | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	0	0
Net Investment Income | RILA, fixed indexed annuity and IUL contracts | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	0	0
Interest and Debt Expense | Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate contracts, amount of gain or (loss) reclassified from AOCI into income	9	6
Foreign currency contracts, amount of gain or (loss) reclassified from AOCI into income	0	0
Interest and Debt Expense | Interest rate contracts | Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Hedged items	17	(21)
Derivatives designated as hedging instruments	(17)	21
Interest and Debt Expense | Interest rate contracts | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	0	0
Interest and Debt Expense | Foreign currency contracts | Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Hedged items	0	0
Derivatives designated as hedging instruments	0	0
Interest and Debt Expense | Foreign currency contracts | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	0	0
Interest and Debt Expense | Equity market contracts | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	0	0
Interest and Debt Expense | Commodity contracts | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	0	0
Interest and Debt Expense | Credit contracts | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	0	0
Interest and Debt Expense | Reinsurance-related | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	0	0
Interest and Debt Expense | RILA, fixed indexed annuity and IUL contracts | Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Non-Qualifying Hedges	$ 0	$ 0

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Cash flow hedge gain (loss) to be reclassified within 12 months	$ 99
CDs, counterparty collateral	$ 1

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Credit Derivatives (Details) $ in Millions	Mar. 31, 2024 USD ($) instrument	Dec. 31, 2023 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Number of Instruments | instrument	1
Fair Value	$ 1
Maximum Potential Payout	$ 39	$ 0

Derivative Instruments - Sche_2

Derivative Instruments - Schedule of Credit Derivatives Contingencies (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Maximum potential payout	$ 39	$ 0
Less: Counterparty thresholds	0	0
Maximum collateral potentially required to post	$ 39	$ 0

Derivative Instruments - Sche_3

Derivative Instruments - Schedule of Collateral Amounts With Rights to Reclaim or Obligation to Return Cash (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Credit Derivatives [Line Items]
Collateral Posted by Counter- Party (Held by LNC)	$ 6,903	$ 5,229
Collateral Posted by LNC (Held by Counter- Party)	(114)	(188)
AA-
Credit Derivatives [Line Items]
Collateral Posted by Counter- Party (Held by LNC)	3,403	2,378
Collateral Posted by LNC (Held by Counter- Party)	(71)	(63)
A+
Credit Derivatives [Line Items]
Collateral Posted by Counter- Party (Held by LNC)	2,929	2,496
Collateral Posted by LNC (Held by Counter- Party)	(43)	(125)
A
Credit Derivatives [Line Items]
Collateral Posted by Counter- Party (Held by LNC)	90	82
Collateral Posted by LNC (Held by Counter- Party)	0	0
A-
Credit Derivatives [Line Items]
Collateral Posted by Counter- Party (Held by LNC)	481	273
Collateral Posted by LNC (Held by Counter- Party)	$ 0	$ 0

Derivative Instruments - Sche_4

Derivative Instruments - Schedule of Offsetting Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Financial Assets
Gross amount of recognized assets	$ 16,223	$ 11,867
Gross amounts offset	(6,856)	(4,453)
Net amount of assets	9,367	7,414
Cash collateral	(6,903)	(5,229)
Non-cash collateral	(1,491)	(1,245)
Net amount	973	940
Financial Liabilities
Gross amount of recognized liabilities	11,524	10,596
Gross amounts offset	(87)	(612)
Net amount of liabilities	11,437	9,984
Cash collateral	(114)	(188)
Non-cash collateral	(72)	(167)
Net amount	11,251	9,629
Excess non-cash collateral received	1,400	1,300
Excess non-cash collateral pledged	89	82
Derivative Instruments
Financial Assets
Gross amount of recognized assets	15,250	10,927
Gross amounts offset	(6,856)	(4,453)
Net amount of assets	8,394	6,474
Cash collateral	(6,903)	(5,229)
Non-cash collateral	(1,491)	(1,245)
Net amount	0	0
Financial Liabilities
Gross amount of recognized liabilities	273	967
Gross amounts offset	(87)	(612)
Net amount of liabilities	186	355
Cash collateral	(114)	(188)
Non-cash collateral	(72)	(167)
Net amount	0	0
Embedded Derivative Instruments
Financial Assets
Gross amount of recognized assets	973	940
Gross amounts offset	0	0
Net amount of assets	973	940
Cash collateral	0	0
Non-cash collateral	0	0
Net amount	973	940
Financial Liabilities
Gross amount of recognized liabilities	11,251	9,629
Gross amounts offset	0	0
Net amount of liabilities	11,251	9,629
Cash collateral	0	0
Non-cash collateral	0	0
Net amount	$ 11,251	$ 9,629

DAC, VOBA, DSI, and DFEL - Reco

DAC, VOBA, DSI, and DFEL - Reconciliation of DAC, VOBA and DSI (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Deferred Policy Acquisition Cost [Line Items]
Deferred acquisition costs, value of business acquired and deferred sales inducements	$ 12,405	$ 12,397
Traditional Life
Deferred Policy Acquisition Cost [Line Items]
Deferred acquisition costs, value of business acquired and deferred sales inducements	1,411	1,418
UL and Other
Deferred Policy Acquisition Cost [Line Items]
Deferred acquisition costs, value of business acquired and deferred sales inducements	6,246	6,232
Group Protection
Deferred Policy Acquisition Cost [Line Items]
Deferred acquisition costs, value of business acquired and deferred sales inducements	157	154
Retirement Plan Services
Deferred Policy Acquisition Cost [Line Items]
Deferred acquisition costs, value of business acquired and deferred sales inducements	273	265
Variable Annuities
Deferred Policy Acquisition Cost [Line Items]
Deferred acquisition costs, value of business acquired and deferred sales inducements	3,871	3,873
Fixed Annuities
Deferred Policy Acquisition Cost [Line Items]
Deferred acquisition costs, value of business acquired and deferred sales inducements	$ 447	$ 455

DAC, VOBA, DSI, and DFEL - Re_2

DAC, VOBA, DSI, and DFEL - Reconciliation of DEFL (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Deferred Policy Acquisition Cost [Line Items]
Deferred front-end loads	$ 6,099	$ 5,901
Other Operations
Deferred Policy Acquisition Cost [Line Items]
Deferred front-end loads	44	44
Ceded deferred front end loads	44	44
UL and Other
Deferred Policy Acquisition Cost [Line Items]
Deferred front-end loads	5,778	5,579	$ 4,966	$ 4,766
Ceded deferred front end loads	258	257	0
Variable Annuities
Deferred Policy Acquisition Cost [Line Items]
Deferred front-end loads	277	$ 278	284	$ 286
Ceded deferred front end loads	$ 0		$ 0

DAC, VOBA, DSI, and DFEL - DAC

DAC, VOBA, DSI, and DFEL - DAC (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Amortization	$ (249)	$ (245)
Traditional Life
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance as of beginning-of-year	1,376	1,333
Deferrals	32	55
Amortization	(37)	(36)
Balance as of end-of-period	1,371	1,352
UL and Other
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance as of beginning-of-year	5,791	5,605
Deferrals	100	118
Amortization	(76)	(73)
Balance as of end-of-period	5,815	5,650
Group Protection
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance as of beginning-of-year	154	141
Deferrals	29	25
Amortization	(26)	(24)
Balance as of end-of-period	157	142
Retirement Plan Services
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance as of beginning-of-year	239	236
Deferrals	5	6
Amortization	(5)	(5)
Balance as of end-of-period	239	237
Variable Annuities
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance as of beginning-of-year	3,751	3,751
Deferrals	89	84
Amortization	(89)	(90)
Balance as of end-of-period	3,751	3,745
Fixed Annuities
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance as of beginning-of-year	421	439
Deferrals	9	14
Amortization	(16)	(17)
Balance as of end-of-period	$ 414	$ 436

DAC, VOBA, DSI and DFEL - Narra

DAC, VOBA, DSI and DFEL - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]
Deferred policy acquisition costs, amortization expense	$ 249	$ 245
Value of future insurance profits, amortization expense	13	14
Deferred sales inducements, amortization expense	3	5
Deferred front end loads, amortization expense	$ 74	$ 68

DAC, VOBA, DSI, and DFEL - VOBA

DAC, VOBA, DSI, and DFEL - VOBA (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Movement in Present Value of Future Insurance Profits [Roll Forward]
Amortization	$ (13)	$ (14)
Traditional Life
Movement in Present Value of Future Insurance Profits [Roll Forward]
Balance as of beginning-of-year	42	50
Deferrals		0
Amortization	(2)	(2)
Balance as of end-of-period	40	48
UL and Other
Movement in Present Value of Future Insurance Profits [Roll Forward]
Balance as of beginning-of-year	413	465
Deferrals		0
Amortization	(10)	(11)
Balance as of end-of-period	403	454
Fixed Annuities
Movement in Present Value of Future Insurance Profits [Roll Forward]
Balance as of beginning-of-year	15	17
Deferrals		1
Amortization	(1)	(1)
Balance as of end-of-period	$ 14	$ 17

DAC, VOBA, DSI, and DFEL - DSI

DAC, VOBA, DSI, and DFEL - DSI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Movement in Deferred Sales Inducements [Roll Forward]
Amortization	$ (3)	$ (5)
UL and Other
Movement in Deferred Sales Inducements [Roll Forward]
Balance as of beginning-of-year	28	30
Deferrals	0	0
Amortization	0	(1)
Balance as of end-of-period	28	29
Retirement Plan Services
Movement in Deferred Sales Inducements [Roll Forward]
Balance as of beginning-of-year	26	17
Deferrals	8	2
Amortization	0	1
Balance as of end-of-period	34	20
Variable Annuities
Movement in Deferred Sales Inducements [Roll Forward]
Balance as of beginning-of-year	122	128
Deferrals	1	1
Amortization	(3)	(4)
Balance as of end-of-period	120	125
Fixed Annuities
Movement in Deferred Sales Inducements [Roll Forward]
Balance as of beginning-of-year	19	23
Deferrals	0	0
Amortization	0	(1)
Balance as of end-of-period	$ 19	$ 22

DAC, VOBA, DSI, and DFEL - DFEL

DAC, VOBA, DSI, and DFEL - DFEL (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Changes in DFEL [Roll Forward]
Balance as of beginning-of-year	$ 5,901
Amortization	(74)	$ (68)
Balance as of end-of-period	6,099
UL and Other
Changes in DFEL [Roll Forward]
Balance as of beginning-of-year	5,579	4,766
Deferrals	267	261
Amortization	(68)	(61)
Balance as of end-of-period	5,778	4,966
Less: ceded DFEL	258	0	$ 257
Balance as of end-of-period, net of reinsurance	5,520	4,966
Variable Annuities
Changes in DFEL [Roll Forward]
Balance as of beginning-of-year	278	286
Deferrals	5	5
Amortization	(6)	(7)
Balance as of end-of-period	277	284
Less: ceded DFEL	0	0
Balance as of end-of-period, net of reinsurance	$ 277	$ 284

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) $ in Millions	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Oct. 01, 2023 agreement
Ceded Credit Risk [Line Items]
Number of reinsurance recoverable agreements | agreement			2
Deposit assets, net of allowance for credit losses	$ 28,904	$ 28,789
Investments	125,702	124,331
Fortitude Re
Ceded Credit Risk [Line Items]
Deposits assets	7,800	7,800
Investments	9,800	9,900
Fixed Annuities | Fortitude Re
Ceded Credit Risk [Line Items]
Reinsurance recoverables	10,500	10,500
Reinsurance recoverables on unpaid losses	2,700	2,700
Reinsurance recoverable for unpaid claims and claims adjustments	22
Deposit assets, net of allowance for credit losses	$ 3,900	$ 4,200

Reinsurance - Schedule of Asset

Reinsurance - Schedule of Assets in Support of Reserves (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Ceded Credit Risk [Line Items]
Fixed maturity AFS securities	$ 87,764	$ 88,738
Other investments	5,256	5,015
Cash and invested cash	4,122	3,365	$ 3,766	$ 3,343
Accrued investment income	1,127	1,082
Other assets	9,413	9,311
Fortitude Re
Ceded Credit Risk [Line Items]
Fixed maturity AFS securities	8,651	8,867
Other investments	1,002	759
Cash and invested cash	34	141
Accrued investment income	107	103
Other assets	5	1
Total	$ 9,799	$ 9,871

MRBs - Reconciles of MRBs Asset

MRBs - Reconciles of MRBs Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Market Risk Benefit [Line Items]
Assets	$ 4,878	$ 3,894
Liabilities	1,266	1,716
Net (Assets) Liabilities	(3,612)	(2,178)
Variable Annuities
Market Risk Benefit [Line Items]
Assets	4,743	3,763
Liabilities	1,139	1,583
Net (Assets) Liabilities	(3,604)	(2,180)	$ (1,412)	$ (662)
Fixed Annuities
Market Risk Benefit [Line Items]
Assets	96	96
Liabilities	123	128
Net (Assets) Liabilities	27	32	(31)	(45)
Retirement Plan Services
Market Risk Benefit [Line Items]
Assets	39	35
Liabilities	4	5
Net (Assets) Liabilities	$ (35)	$ (30)	$ (26)	$ (22)

MRBs - Summary of Balances of C

MRBs - Summary of Balances of Changes in Net MRB (Assets) Liabilities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Market Risk Benefit [Roll Forward]
Balance as of beginning-of-year	$ (2,178)
Balance as of end-of-period	(3,612)
Variable Annuities
Market Risk Benefit [Roll Forward]
Balance as of beginning-of-year	(2,180)	$ (662)
Balance as of beginning-of-period, before the effect of changes in non-performance risk	(881)	1,511
Issuances	3	1
Attributed fees collected	380	379
Benefit payments	(11)	(19)
Effect of changes in interest rates	(1,081)	1,406
Effect of changes in equity markets	(1,343)	(1,029)
Effect of changes in equity index volatility	4	(286)
In-force updates and other changes in MRBs	51	76
Balance as of end-of-year, before the effect of changes in non-performance risk	(2,878)	2,039
Effect of cumulative changes in non-performance risk	(726)	(3,451)
Balance as of end-of-period	(3,604)	(1,412)
Less: ceded MRB assets (liabilities)	(358)	(246)
Balance as of end-of-period, net of reinsurance	$ (3,246)	$ (1,166)
Weighted-average age of policyholders (years)	72 years	71 years
Net amount at risk	$ 2,056	$ 6,268
Variable Annuities | Cumulative Effect, Period of Adoption, Adjustment
Market Risk Benefit [Roll Forward]
Balance as of beginning-of-year	(1,299)	(2,173)
Fixed Annuities
Market Risk Benefit [Roll Forward]
Balance as of beginning-of-year	32	(45)
Balance as of beginning-of-period, before the effect of changes in non-performance risk	90	(5)
Issuances	0	0
Attributed fees collected	9	9
Benefit payments	0	0
Effect of changes in interest rates	(17)	31
Effect of changes in equity markets	(11)	(2)
Effect of changes in equity index volatility	(2)	0
In-force updates and other changes in MRBs	1	1
Balance as of end-of-year, before the effect of changes in non-performance risk	70	34
Effect of cumulative changes in non-performance risk	(43)	(65)
Balance as of end-of-period	27	(31)
Less: ceded MRB assets (liabilities)	0	0
Balance as of end-of-period, net of reinsurance	$ 27	$ (31)
Weighted-average age of policyholders (years)	69 years	68 years
Net amount at risk	$ 210	$ 192
Fixed Annuities | Cumulative Effect, Period of Adoption, Adjustment
Market Risk Benefit [Roll Forward]
Balance as of beginning-of-year	(58)	(40)
Retirement Plan Services
Market Risk Benefit [Roll Forward]
Balance as of beginning-of-year	(30)	(22)
Balance as of beginning-of-period, before the effect of changes in non-performance risk	(26)	(20)
Issuances	0	0
Attributed fees collected	2	2
Benefit payments	0	0
Effect of changes in interest rates	(6)	5
Effect of changes in equity markets	(4)	(6)
Effect of changes in equity index volatility	0	(2)
In-force updates and other changes in MRBs	1	0
Balance as of end-of-year, before the effect of changes in non-performance risk	(33)	(21)
Effect of cumulative changes in non-performance risk	(2)	(5)
Balance as of end-of-period	(35)	(26)
Less: ceded MRB assets (liabilities)	0	0
Balance as of end-of-period, net of reinsurance	$ (35)	$ (26)
Weighted-average age of policyholders (years)	63 years	63 years
Net amount at risk	$ 3	$ 9
Retirement Plan Services | Cumulative Effect, Period of Adoption, Adjustment
Market Risk Benefit [Roll Forward]
Balance as of beginning-of-year	$ (4)	$ (2)

Separate Accounts - Schedule of

Separate Accounts - Schedule of Fair Value of Separate Account Assets (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Separate Account Investment [Line Items]
Separate account assets	$ 166,225	$ 158,257
Mutual funds and collective investment trusts
Fair Value, Separate Account Investment [Line Items]
Separate account assets	165,556	157,578
Exchange-traded funds
Fair Value, Separate Account Investment [Line Items]
Separate account assets	352	350
Fixed maturity AFS securities
Fair Value, Separate Account Investment [Line Items]
Separate account assets	162	167
Cash and invested cash
Fair Value, Separate Account Investment [Line Items]
Separate account assets	8	25
Other investments
Fair Value, Separate Account Investment [Line Items]
Separate account assets	$ 147	$ 137

Separate Accounts - Summary of

Separate Accounts - Summary of Balances and Changes in Separate Account Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Separate Account Investment [Line Items]
Separate account liabilities	$ 166,225	$ 158,257
Reinsurance Agreement | Protective
Fair Value, Separate Account Investment [Line Items]
Separate account liabilities	48	46
Variable Annuities
Fair Value, Separate Account Investment [Line Items]
Separate account liabilities	118,176	113,356	$ 108,334	$ 105,573
UL and Other
Fair Value, Separate Account Investment [Line Items]
Separate account liabilities	27,007	25,150	22,162	20,920
Retirement Plan Services
Fair Value, Separate Account Investment [Line Items]
Separate account liabilities	20,986	19,699	$ 17,876	$ 16,996
Other
Fair Value, Separate Account Investment [Line Items]
Separate account liabilities	$ 56	$ 52

Separate Accounts - Schedule _2

Separate Accounts - Schedule of Reconciliation of Separate Account Liabilities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Separate Account, Liability [Roll Forward]
Balance as of beginning-of-year	$ 158,257
Balance as of end-of-period	166,225
Variable Annuities
Separate Account, Liability [Roll Forward]
Balance as of beginning-of-year	113,356	$ 105,573
Gross deposits	904	624
Withdrawals	(3,208)	(2,436)
Policyholder assessments	(648)	(624)
Change in market performance	7,503	5,054
Net transfers from (to) general account	269	143
Balance as of end-of-period	118,176	108,334
Cash surrender value	116,771	106,796
UL and Other
Separate Account, Liability [Roll Forward]
Balance as of beginning-of-year	25,150	20,920
Gross deposits	358	394
Withdrawals	(103)	(75)
Policyholder assessments	(246)	(238)
Change in market performance	1,885	1,193
Net transfers from (to) general account	(37)	(32)
Balance as of end-of-period	27,007	22,162
Cash surrender value	24,606	19,863
Retirement Plan Services
Separate Account, Liability [Roll Forward]
Balance as of beginning-of-year	19,699	16,996
Gross deposits	570	554
Withdrawals	(732)	(586)
Policyholder assessments	(44)	(40)
Change in market performance	1,475	978
Net transfers from (to) general account	18	(26)
Balance as of end-of-period	20,986	17,876
Cash surrender value	$ 20,971	$ 17,862

Policyholder Account Balances -

Policyholder Account Balances - Schedule of Policyholder Account Balances (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 122,300	$ 120,737
Variable Annuities
Policyholder Account Balance [Line Items]
Policyholder account balances	31,408	29,141	$ 23,771	$ 22,184
Fixed Annuities
Policyholder Account Balance [Line Items]
Policyholder account balances	25,162	25,355	24,019	23,365
UL and Other
Policyholder Account Balance [Line Items]
Policyholder account balances	37,006	37,180	37,533	37,694
Retirement Plan Services
Policyholder Account Balance [Line Items]
Policyholder account balances	23,586	23,784	$ 24,994	$ 25,138
Other
Policyholder Account Balance [Line Items]
Policyholder account balances	5,138	5,277
Other | Reinsurance Agreement
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 4,700	$ 4,900

Policyholder Account Balances_2

Policyholder Account Balances - Summary of Balances and Changes in Policyholder Account Balances (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Policyholder Account Balance [Roll Forward]
Balance as of beginning-of-year	$ 120,737
Interest credited	822	$ 785
Balance as of end-of-period	122,300
Variable Annuities
Policyholder Account Balance [Roll Forward]
Balance as of beginning-of-year	29,141	22,184
Gross deposits	973	1,222
Withdrawals	(224)	(170)
Policyholder assessments	0	0
Net transfers from (to) separate account	(178)	(114)
Interest credited	158	109
Change in fair value of embedded derivative instrument	1,538	540
Balance as of end-of-period	$ 31,408	$ 23,771
Weighted-average crediting rate	2.10%	1.90%
Net amount at risk	$ 2,056	$ 6,268
Cash surrender value	30,228	22,698
Fixed Annuities
Policyholder Account Balance [Roll Forward]
Balance as of beginning-of-year	25,355	23,365
Gross deposits	973	1,317
Withdrawals	(1,410)	(889)
Policyholder assessments	(17)	(15)
Net transfers from (to) separate account	0	0
Interest credited	183	154
Change in fair value of embedded derivative instrument	78	87
Balance as of end-of-period	$ 25,162	$ 24,019
Weighted-average crediting rate	2.90%	2.60%
Net amount at risk	$ 210	$ 192
Cash surrender value	24,139	23,125
UL and Other
Policyholder Account Balance [Roll Forward]
Balance as of beginning-of-year	37,180	37,694
Gross deposits	850	926
Withdrawals	(364)	(393)
Policyholder assessments	(1,124)	(1,128)
Net transfers from (to) separate account	38	32
Interest credited	365	373
Change in fair value of embedded derivative instrument	61	29
Balance as of end-of-period	$ 37,006	$ 37,533
Weighted-average crediting rate	3.90%	4%
Net amount at risk	$ 300,740	$ 303,412
Cash surrender value	33,314	34,033
Retirement Plan Services
Policyholder Account Balance [Roll Forward]
Balance as of beginning-of-year	23,784	25,138
Gross deposits	790	701
Withdrawals	(1,203)	(1,113)
Policyholder assessments	(3)	(3)
Net transfers from (to) separate account	50	103
Interest credited	168	168
Change in fair value of embedded derivative instrument	0	0
Balance as of end-of-period	$ 23,586	$ 24,994
Weighted-average crediting rate	2.80%	2.70%
Net amount at risk	$ 3	$ 9
Cash surrender value	$ 23,560	$ 24,989

Policyholder Account Balances_3

Policyholder Account Balances - Summary of Policyholder Account Balances by Ranges (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 122,300	$ 120,737
Variable Annuities
Policyholder Account Balance [Line Items]
Policyholder account balances	31,408	29,141	$ 23,771	$ 22,184
Variable Annuities | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	1,893		2,151
Variable Annuities | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 6		$ 8
Variable Annuities | Up to 1.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	1%		1%
Policyholder account balances	$ 0		$ 0
Variable Annuities | Up to 1.00% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | Up to 1.00% | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | Up to 1.00% | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | Up to 1.00% | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | Up to 1.00% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | 1.01% - 2.00%
Policyholder Account Balance [Line Items]
Policyholder account balances	11		12
Variable Annuities | 1.01% - 2.00% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	5		4
Variable Annuities | 1.01% - 2.00% | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | 1.01% - 2.00% | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | 1.01% - 2.00% | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | 1.01% - 2.00% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	6		8
Variable Annuities | 2.01% - 3.00%
Policyholder Account Balance [Line Items]
Policyholder account balances	560		634
Variable Annuities | 2.01% - 3.00% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	560		634
Variable Annuities | 2.01% - 3.00% | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | 2.01% - 3.00% | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | 2.01% - 3.00% | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | 2.01% - 3.00% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | 3.01% - 4.00%
Policyholder Account Balance [Line Items]
Policyholder account balances	1,319		1,503
Variable Annuities | 3.01% - 4.00% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	1,319		1,503
Variable Annuities | 3.01% - 4.00% | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | 3.01% - 4.00% | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | 3.01% - 4.00% | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | 3.01% - 4.00% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 0		$ 0
Variable Annuities | 4.01% and above
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	4.01%		4.01%
Policyholder account balances	$ 9		$ 10
Variable Annuities | 4.01% and above | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	9		10
Variable Annuities | 4.01% and above | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | 4.01% and above | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | 4.01% and above | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | 4.01% and above | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | Other
Policyholder Account Balance [Line Items]
Policyholder account balances	29,509		21,612
Variable Annuities | Other | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | Other | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | Other | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | Other | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Variable Annuities | Other | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 0		$ 0
Variable Annuities | Minimum | 1.01% - 2.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	1.01%		1.01%
Variable Annuities | Minimum | 2.01% - 3.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	2.01%		2.01%
Variable Annuities | Minimum | 3.01% - 4.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	3.01%		3.01%
Variable Annuities | Maximum | 1.01% - 2.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	2%		2%
Variable Annuities | Maximum | 2.01% - 3.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	3%		3%
Variable Annuities | Maximum | 3.01% - 4.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	4%		4%
Fixed Annuities
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 25,162	25,355	$ 24,019	23,365
Fixed Annuities | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	3,881		4,941
Fixed Annuities | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	743		594
Fixed Annuities | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	850		764
Fixed Annuities | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	994		941
Fixed Annuities | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 5,722		$ 2,856
Fixed Annuities | Up to 1.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	1%		1%
Policyholder account balances	$ 4,803		$ 4,077
Fixed Annuities | Up to 1.00% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	679		831
Fixed Annuities | Up to 1.00% | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	605		447
Fixed Annuities | Up to 1.00% | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	560		578
Fixed Annuities | Up to 1.00% | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	493		448
Fixed Annuities | Up to 1.00% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	2,466		1,773
Fixed Annuities | 1.01% - 2.00%
Policyholder Account Balance [Line Items]
Policyholder account balances	4,475		2,460
Fixed Annuities | 1.01% - 2.00% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	360		559
Fixed Annuities | 1.01% - 2.00% | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	99		141
Fixed Annuities | 1.01% - 2.00% | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	285		184
Fixed Annuities | 1.01% - 2.00% | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	500		493
Fixed Annuities | 1.01% - 2.00% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	3,231		1,083
Fixed Annuities | 2.01% - 3.00%
Policyholder Account Balance [Line Items]
Policyholder account balances	1,819		1,893
Fixed Annuities | 2.01% - 3.00% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	1,749		1,885
Fixed Annuities | 2.01% - 3.00% | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	39		6
Fixed Annuities | 2.01% - 3.00% | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	5		2
Fixed Annuities | 2.01% - 3.00% | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	1		0
Fixed Annuities | 2.01% - 3.00% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	25		0
Fixed Annuities | 3.01% - 4.00%
Policyholder Account Balance [Line Items]
Policyholder account balances	916		1,473
Fixed Annuities | 3.01% - 4.00% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	916		1,473
Fixed Annuities | 3.01% - 4.00% | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Fixed Annuities | 3.01% - 4.00% | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Fixed Annuities | 3.01% - 4.00% | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Fixed Annuities | 3.01% - 4.00% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 0		$ 0
Fixed Annuities | 4.01% and above
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	4.01%		4.01%
Policyholder account balances	$ 177		$ 193
Fixed Annuities | 4.01% and above | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	177		193
Fixed Annuities | 4.01% and above | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Fixed Annuities | 4.01% and above | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Fixed Annuities | 4.01% and above | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Fixed Annuities | 4.01% and above | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Fixed Annuities | Other
Policyholder Account Balance [Line Items]
Policyholder account balances	12,972		13,923
Fixed Annuities | Other | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Fixed Annuities | Other | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Fixed Annuities | Other | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Fixed Annuities | Other | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Fixed Annuities | Other | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 0		$ 0
Fixed Annuities | Minimum | 1.01% - 2.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	1.01%		1.01%
Fixed Annuities | Minimum | 2.01% - 3.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	2.01%		2.01%
Fixed Annuities | Minimum | 3.01% - 4.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	3.01%		3.01%
Fixed Annuities | Maximum | 1.01% - 2.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	2%		2%
Fixed Annuities | Maximum | 2.01% - 3.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	3%		3%
Fixed Annuities | Maximum | 3.01% - 4.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	4%		4%
UL and Other
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 37,006	37,180	$ 37,533	37,694
UL and Other | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	26,978		27,872
UL and Other | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	10		158
UL and Other | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	369		203
UL and Other | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	119		26
UL and Other | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 3,238		$ 3,577
UL and Other | Up to 1.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	1%		1%
Policyholder account balances	$ 632		$ 888
UL and Other | Up to 1.00% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	264		312
UL and Other | Up to 1.00% | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
UL and Other | Up to 1.00% | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	219		202
UL and Other | Up to 1.00% | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	119		26
UL and Other | Up to 1.00% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	30		348
UL and Other | 1.01% - 2.00%
Policyholder Account Balance [Line Items]
Policyholder account balances	3,756		3,785
UL and Other | 1.01% - 2.00% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	548		556
UL and Other | 1.01% - 2.00% | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
UL and Other | 1.01% - 2.00% | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
UL and Other | 1.01% - 2.00% | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
UL and Other | 1.01% - 2.00% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	3,208		3,229
UL and Other | 2.01% - 3.00%
Policyholder Account Balance [Line Items]
Policyholder account balances	7,007		7,288
UL and Other | 2.01% - 3.00% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	6,848		7,130
UL and Other | 2.01% - 3.00% | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	10		158
UL and Other | 2.01% - 3.00% | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	149		0
UL and Other | 2.01% - 3.00% | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
UL and Other | 2.01% - 3.00% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
UL and Other | 3.01% - 4.00%
Policyholder Account Balance [Line Items]
Policyholder account balances	15,597		16,108
UL and Other | 3.01% - 4.00% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	15,596		16,107
UL and Other | 3.01% - 4.00% | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
UL and Other | 3.01% - 4.00% | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	1		1
UL and Other | 3.01% - 4.00% | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
UL and Other | 3.01% - 4.00% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 0		$ 0
UL and Other | 4.01% and above
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	4.01%		4.01%
Policyholder account balances	$ 3,722		$ 3,767
UL and Other | 4.01% and above | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	3,722		3,767
UL and Other | 4.01% and above | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
UL and Other | 4.01% and above | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
UL and Other | 4.01% and above | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
UL and Other | 4.01% and above | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
UL and Other | Other
Policyholder Account Balance [Line Items]
Policyholder account balances	6,292		5,697
UL and Other | Other | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
UL and Other | Other | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
UL and Other | Other | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
UL and Other | Other | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
UL and Other | Other | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 0		$ 0
UL and Other | Minimum | 1.01% - 2.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	1.01%		1.01%
UL and Other | Minimum | 2.01% - 3.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	2.01%		2.01%
UL and Other | Minimum | 3.01% - 4.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	3.01%		3.01%
UL and Other | Maximum | 1.01% - 2.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	2%		2%
UL and Other | Maximum | 2.01% - 3.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	3%		3%
UL and Other | Maximum | 3.01% - 4.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	4%		4%
Retirement Plan Services
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 23,586	$ 23,784	$ 24,994	$ 25,138
Retirement Plan Services | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	9,606		11,705
Retirement Plan Services | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	2,355		3,380
Retirement Plan Services | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	2,219		4,258
Retirement Plan Services | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	5,071		3,438
Retirement Plan Services | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 4,335		$ 2,213
Retirement Plan Services | Up to 1.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	1%		1%
Policyholder account balances	$ 9,703		$ 9,532
Retirement Plan Services | Up to 1.00% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	437		595
Retirement Plan Services | Up to 1.00% | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	500		751
Retirement Plan Services | Up to 1.00% | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	740		3,062
Retirement Plan Services | Up to 1.00% | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	3,706		2,911
Retirement Plan Services | Up to 1.00% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	4,320		2,213
Retirement Plan Services | 1.01% - 2.00%
Policyholder Account Balance [Line Items]
Policyholder account balances	4,959		5,329
Retirement Plan Services | 1.01% - 2.00% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	527		977
Retirement Plan Services | 1.01% - 2.00% | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	1,660		2,629
Retirement Plan Services | 1.01% - 2.00% | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	1,413		1,196
Retirement Plan Services | 1.01% - 2.00% | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	1,345		527
Retirement Plan Services | 1.01% - 2.00% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	14		0
Retirement Plan Services | 2.01% - 3.00%
Policyholder Account Balance [Line Items]
Policyholder account balances	2,444		3,093
Retirement Plan Services | 2.01% - 3.00% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	2,342		3,093
Retirement Plan Services | 2.01% - 3.00% | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	21		0
Retirement Plan Services | 2.01% - 3.00% | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	63		0
Retirement Plan Services | 2.01% - 3.00% | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	17		0
Retirement Plan Services | 2.01% - 3.00% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	1		0
Retirement Plan Services | 3.01% - 4.00%
Policyholder Account Balance [Line Items]
Policyholder account balances	4,879		5,442
Retirement Plan Services | 3.01% - 4.00% | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	4,842		5,442
Retirement Plan Services | 3.01% - 4.00% | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	31		0
Retirement Plan Services | 3.01% - 4.00% | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	3		0
Retirement Plan Services | 3.01% - 4.00% | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	3		0
Retirement Plan Services | 3.01% - 4.00% | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 0		$ 0
Retirement Plan Services | 4.01% and above
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	4.01%		4.01%
Policyholder account balances	$ 1,601		$ 1,598
Retirement Plan Services | 4.01% and above | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account balances	1,458		1,598
Retirement Plan Services | 4.01% and above | 1-50 Basis Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	143		0
Retirement Plan Services | 4.01% and above | 51-100 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Retirement Plan Services | 4.01% and above | 101-150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	0		0
Retirement Plan Services | 4.01% and above | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account balances	$ 0		$ 0
Retirement Plan Services | Minimum | 1.01% - 2.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	1.01%		1.01%
Retirement Plan Services | Minimum | 2.01% - 3.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	2.01%		2.01%
Retirement Plan Services | Minimum | 3.01% - 4.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	3.01%		3.01%
Retirement Plan Services | Maximum | 1.01% - 2.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	2%		2%
Retirement Plan Services | Maximum | 2.01% - 3.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	3%		3%
Retirement Plan Services | Maximum | 3.01% - 4.00%
Policyholder Account Balance [Line Items]
Range of guaranteed minimum crediting rate	4%		4%

Future Contract Benefit - Summa

Future Contract Benefit - Summary of Reconciliation of Future Contract Benefits (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Future contract benefits	$ 38,848	$ 39,864
Other
Liability for Future Policy Benefit, Activity [Line Items]
Future contract benefits	3,322	3,371
Payout Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Future contract benefits	2,034	2,085	$ 2,068
Traditional Life
Liability for Future Policy Benefit, Activity [Line Items]
Future contract benefits	3,793	3,841	$ 3,681
Group Protection
Liability for Future Policy Benefit, Activity [Line Items]
Future contract benefits	5,640	5,689
UL and Other
Liability for Future Policy Benefit, Activity [Line Items]
Future contract benefits	14,444	15,000
Other Operations
Liability for Future Policy Benefit, Activity [Line Items]
Future contract benefits	9,615	9,879
Protective | Other Operations
Liability for Future Policy Benefit, Activity [Line Items]
Future contract benefits	5,500	5,600
Swiss Re | Other Operations
Liability for Future Policy Benefit, Activity [Line Items]
Future contract benefits	$ 2,200	$ 2,200

Future Contract Benefits - Summ

Future Contract Benefits - Summary of Changes in Present Values of Expected Net Premiums and LFPB (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Present Value of Expected LFPB
Net balance as of end-of-period	$ 38,848		$ 39,864
Payout Annuities
Present Value of Expected Net Premiums
Balance as of beginning-of-year	0	$ 0
Beginning balance at original discount rate	0	0
Effect of actual variances from expected experience			0	$ 0
Adjusted balance as of beginning-of-year	0	0
Issuances	0	0
Interest accrual	0	0
Net premiums collected	0	0
Flooring impact of LFPB	0	0
Ending balance at original discount rate	0	0
Effect of cumulative changes in discount rate assumptions	0	0
Balance as of end-of-period	0	0
Present Value of Expected LFPB
Balance as of beginning-of-year	2,085	2,004
Beginning balance of original discount rate	2,272	2,267
Effect of actual variances from expected experience			1	(1)
Adjusted balance as of beginning-of-year	2,273	2,266
Issuances	15	27
Interest accrual	22	21
Benefit payments	(49)	(46)
Ending balance of original discount rate	2,261	2,268
Effect of cumulative changes in discount rate assumptions	(227)	(200)
Balance as of end-of-period	2,034	2,068
Net balance as of end-of-period	2,034	2,068	2,085
Less: reinsurance recoverables	1,562	3
Net balance as of end-of-period, net of reinsurance	$ 472	$ 2,065
Weighted-average duration of future policyholder benefit liability	9 years	9 years
Deferred profit liability	$ 60	$ 43
Payout Annuities | Cumulative Effect, Period of Adoption, Adjustment
Present Value of Expected Net Premiums
Balance as of beginning-of-year	0	0
Present Value of Expected LFPB
Balance as of beginning-of-year	(187)	(263)
Traditional Life
Present Value of Expected Net Premiums
Balance as of beginning-of-year	6,200	6,063
Beginning balance at original discount rate	6,348	6,645
Effect of actual variances from expected experience			2	(241)
Adjusted balance as of beginning-of-year	6,350	6,404
Issuances	108	176
Interest accrual	63	60
Net premiums collected	(202)	(203)
Flooring impact of LFPB	3	2
Ending balance at original discount rate	6,322	6,439
Effect of cumulative changes in discount rate assumptions	(254)	(230)
Balance as of end-of-period	6,068	6,209
Present Value of Expected LFPB
Balance as of beginning-of-year	10,041	9,572
Beginning balance of original discount rate	10,230	10,357
Effect of actual variances from expected experience			7	(251)
Adjusted balance as of beginning-of-year	10,237	10,106
Issuances	108	177
Interest accrual	100	95
Benefit payments	(206)	(186)
Ending balance of original discount rate	10,239	10,192
Effect of cumulative changes in discount rate assumptions	(378)	(302)
Balance as of end-of-period	9,861	9,890
Net balance as of end-of-period	3,793	3,681	3,841
Less: reinsurance recoverables	421	520
Net balance as of end-of-period, net of reinsurance	$ 3,372	$ 3,161
Weighted-average duration of future policyholder benefit liability	9 years	10 years
Traditional Life | Cumulative Effect, Period of Adoption, Adjustment
Present Value of Expected Net Premiums
Balance as of beginning-of-year	$ (148)	$ (582)
Present Value of Expected LFPB
Balance as of beginning-of-year	(189)	(785)
Group Protection
Present Value of Expected Net Premiums
Effect of cumulative changes in discount rate assumptions			(490)	(597)
Present Value of Expected LFPB
Balance as of beginning-of-year	5,689	5,462
Beginning balance of original discount rate	6,179	6,059
Effect of actual variances from expected experience			(67)	(100)
Adjusted balance as of beginning-of-year	6,112	5,959
Issuances	408	437
Interest accrual	48	42
Benefit payments	(382)	(377)
Ending balance of original discount rate	6,186	6,061
Effect of cumulative changes in discount rate assumptions	(546)	(569)
Balance as of end-of-period	5,640	5,492
Net balance as of end-of-period	5,640		5,689
Less: reinsurance recoverables	123	126
Net balance as of end-of-period, net of reinsurance	$ 5,517	$ 5,366
Weighted-average duration of future policyholder benefit liability	5 years	4 years
UL and Other
Present Value of Expected Net Premiums
Effect of cumulative changes in discount rate assumptions	$ (3,083)	$ (669)	(2,222)	(905)
Present Value of Expected LFPB
Balance as of beginning-of-year	15,000	14,818
Balance as of beginning-of-year, excluding shadow balance in AOCI	17,222	15,723
Effect of actual variances from expected experience			106	$ (9)
Adjusted balance as of beginning-of-year	17,328	15,714
Interest accrual	209	186
Net assessments collected	303	336
Benefit payments	(313)	(183)
Balance as of end-of-year, excluding shadow balance in AOCI	17,527	16,053
Balance as of end-of-period	14,444	15,384
Net balance as of end-of-period	14,444		$ 15,000
Less: reinsurance recoverables	4,776	862
Net balance as of end-of-period, net of reinsurance	$ 9,668	$ 14,522
Weighted-average duration of future policyholder benefit liability	17 years	17 years

Future Contract Benefits - Su_2

Future Contract Benefits - Summary of Discounted and Undiscounted Expected Future Gross premiums and Expected Future Benefit Payments (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Payout Annuities
Undiscounted
Expected future gross premiums	$ 0	$ 0
Expected future benefit payments	3,438	3,461
Discounted
Expected future gross premiums	0	0
Expected future benefit payments	2,034	2,068
Traditional Life
Undiscounted
Expected future gross premiums	13,896	14,005
Expected future benefit payments	14,582	14,485
Discounted
Expected future gross premiums	9,570	9,750
Expected future benefit payments	9,861	9,890
Group Protection
Undiscounted
Expected future benefit payments	7,296	7,086
Discounted
Expected future benefit payments	$ 5,640	$ 5,492

Future Contract Benefit - Sum_2

Future Contract Benefit - Summary of Gross Premiums and Interest Accretion (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Payout Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	$ 21	$ 28
Interest accretion	22	21
Traditional Life
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	314	313
Interest accretion	37	35
Group Protection
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	896	885
Interest accretion	48	42
UL and Other
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	766	915
Interest accretion	$ 209	$ 186

Future Contract Benefit - Sum_3

Future Contract Benefit - Summary of Weighted-Average Interest Rates (Details)	Mar. 31, 2024	Mar. 31, 2023
Payout Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	3.90%	3.90%
Current discount rate	5.20%	4.90%
Traditional Life
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	5%	5.10%
Current discount rate	5%	4.80%
Group Protection
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	3.20%	2.90%
Current discount rate	5%	4.80%
UL and Other
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	5.30%	5%

Debt (Details)

Debt (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Debt Instrument [Line Items]
Balance as of beginning-of-year	$ 5,949
Issuance of 5.852% Senior Notes due 2034	350
Partial early extinguishment of variable rate term loan, due 2024	(47)
Unamortized debt issuance costs	(2)
Unamortized adjustments from discontinued hedges	(4)
Fair value hedge on interest rate swap agreements	(17)
Balance as of end-of-period	$ 6,229
Due 2034 | Senior notes
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	5.852%
SOFR Due 2024 | Term loans | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, adjustment rate	0.10%
Debt instrument, basis spread on variable rate	1.125%

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Carrying and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
ASSETS
Fixed maturity AFS securities	$ 87,764	$ 88,738
Trading securities	2,227	2,359
Equity securities	319	306
Mortgage loans on real estate	19,266	18,963
Derivative investments	8,394	6,474
Other investments	5,256	5,015
MRB assets	4,878	3,894
Policyholder account balances:
MRB liabilities	$ (1,266)	$ (1,716)
Other liabilities:
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities	Other liabilities
Carrying Value
ASSETS
Trading securities	$ 2,227	$ 2,359
Equity securities	319	306
Mortgage loans on real estate	19,266	18,963
Derivative investments	8,394	6,474
Other investments	5,256	5,015
Cash and invested cash	4,122	3,365
MRB assets	4,878	3,894
Other assets:
Separate account assets	166,225	158,257
Policyholder account balances:
Funds withheld reinsurance liabilities – reinsurance-related embedded derivatives	(355)	(552)
MRB liabilities	(1,266)	(1,716)
Short-term debt	(503)	(250)
Long-term debt	(5,726)	(5,699)
Fair Value
ASSETS
Trading securities	2,227	2,359
Equity securities	319	306
Mortgage loans on real estate	17,658	17,407
Derivative investments	8,394	6,474
Other investments	5,256	5,015
Cash and invested cash	4,122	3,365
MRB assets	4,878	3,894
Other assets:
Separate account assets	166,225	158,257
Policyholder account balances:
Funds withheld reinsurance liabilities – reinsurance-related embedded derivatives	(355)	(552)
MRB liabilities	(1,266)	(1,716)
Short-term debt	(493)	(249)
Long-term debt	(5,058)	(5,182)
Other Assets | Carrying Value
Other assets:
Ceded MRBs	2	2
Indexed annuity ceded embedded derivatives	973	940
Other Assets | Fair Value
Other assets:
Ceded MRBs	2	2
Indexed annuity ceded embedded derivatives	973	940
Policyholder Account Balances | Carrying Value
Policyholder account balances:
Account balances of certain investment contracts	(44,386)	(44,640)
RILA, fixed annuity and IUL contracts	(10,896)	(9,077)
Policyholder Account Balances | Fair Value
Policyholder account balances:
Account balances of certain investment contracts	(33,752)	(34,041)
RILA, fixed annuity and IUL contracts	(10,896)	(9,077)
Other Liabilities | Carrying Value
Other liabilities:
Ceded MRBs	(360)	(239)
Derivative liabilities	(186)	(356)
Remaining guaranteed interest and similar contracts	(397)	(411)
Other Liabilities | Fair Value
Other liabilities:
Ceded MRBs	(360)	(239)
Derivative liabilities	(186)	(356)
Remaining guaranteed interest and similar contracts	(397)	(411)
Fixed maturity AFS securities, at fair value | Carrying Value
ASSETS
Fixed maturity AFS securities	87,764	88,738
Fixed maturity AFS securities, at fair value | Fair Value
ASSETS
Fixed maturity AFS securities	$ 87,764	$ 88,738

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of Mortgage Loans With Election of Fair Value Option (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value	$ 289	$ 288
Commercial
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value	289	288
Aggregate contractual principal	$ 326	$ 326

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Narrative (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	$ 282,327,000,000	$ 269,878,000,000
Liabilities	19,980,000,000	16,962,000,000
Fair Value, Nonrecurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	0	0
Liabilities	0	0
Commercial
Fair Value, Option, Quantitative Disclosures [Line Items]
Loans with fair value option in non-accrual	0	0
Loans with fair value option, 90 days past due and still accruing	$ 0	$ 0

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Fair Value of Assets and Liabilities on a Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	$ 282,327	$ 269,878
Liabilities	(19,980)	(16,962)
Corporate bonds
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	68,533	69,657
U.S. government bonds
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	391	393
State and municipal bonds
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	2,743	2,790
Foreign government bonds
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	263	283
RMBS
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	1,759	1,773
CMBS
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	1,484	1,424
ABS
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	12,349	12,171
Hybrid and redeemable preferred securities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	242	247
Trading securities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	2,227	2,359
Equity securities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	319	306
Mortgage loans on real estate
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	289	288
Derivative investments
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	15,311	11,496
Other investments – short-term investments
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	217	233
Cash and invested cash
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	4,122	3,365
MRB assets
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	4,878	3,894
Ceded MRBs
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	2	2
Liabilities	(360)	(239)
RILA, fixed indexed annuity and IUL contracts
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	973	940
Liabilities	(10,896)	(9,077)
Separate account assets
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	166,225	158,257
Reinsurance-related embedded derivatives
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Liabilities	(355)	(552)
MRB liabilities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Liabilities	(1,266)	(1,716)
Derivative liabilities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Liabilities	(7,103)	(5,378)
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	837	823
Liabilities	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate bonds
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government bonds
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	371	374
Quoted Prices in Active Markets for Identical Assets (Level 1) | State and municipal bonds
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Foreign government bonds
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | RMBS
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | CMBS
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | ABS
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Hybrid and redeemable preferred securities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	48	46
Quoted Prices in Active Markets for Identical Assets (Level 1) | Trading securities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Equity securities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	12	1
Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage loans on real estate
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Derivative investments
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Other investments – short-term investments
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Cash and invested cash
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | MRB assets
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Ceded MRBs
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Liabilities	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | RILA, fixed indexed annuity and IUL contracts
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Liabilities	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Separate account assets
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	406	402
Quoted Prices in Active Markets for Identical Assets (Level 1) | Reinsurance-related embedded derivatives
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Liabilities	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | MRB liabilities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Liabilities	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Derivative liabilities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Liabilities	0	0
Significant Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	270,059	258,928
Liabilities	(6,149)	(4,555)
Significant Observable Inputs (Level 2) | Corporate bonds
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	66,044	67,160
Significant Observable Inputs (Level 2) | U.S. government bonds
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	20	19
Significant Observable Inputs (Level 2) | State and municipal bonds
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	2,743	2,785
Significant Observable Inputs (Level 2) | Foreign government bonds
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	263	283
Significant Observable Inputs (Level 2) | RMBS
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	1,747	1,760
Significant Observable Inputs (Level 2) | CMBS
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	1,476	1,416
Significant Observable Inputs (Level 2) | ABS
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	10,657	10,687
Significant Observable Inputs (Level 2) | Hybrid and redeemable preferred securities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	143	153
Significant Observable Inputs (Level 2) | Trading securities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	1,956	2,075
Significant Observable Inputs (Level 2) | Equity securities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	268	263
Significant Observable Inputs (Level 2) | Mortgage loans on real estate
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Significant Observable Inputs (Level 2) | Derivative investments
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	14,584	10,874
Significant Observable Inputs (Level 2) | Other investments – short-term investments
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	217	233
Significant Observable Inputs (Level 2) | Cash and invested cash
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	4,122	3,365
Significant Observable Inputs (Level 2) | MRB assets
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Significant Observable Inputs (Level 2) | Ceded MRBs
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Liabilities	0	0
Significant Observable Inputs (Level 2) | RILA, fixed indexed annuity and IUL contracts
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Liabilities	0	0
Significant Observable Inputs (Level 2) | Separate account assets
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	165,819	157,855
Significant Observable Inputs (Level 2) | Reinsurance-related embedded derivatives
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Liabilities	228	237
Significant Observable Inputs (Level 2) | MRB liabilities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Liabilities	0	0
Significant Observable Inputs (Level 2) | Derivative liabilities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Liabilities	(6,377)	(4,792)
Significant Unobservable Inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	11,431	10,127
Liabilities	(13,831)	(12,407)
Significant Unobservable Inputs (Level 3) | Corporate bonds
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	2,489	2,497
Significant Unobservable Inputs (Level 3) | U.S. government bonds
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Significant Unobservable Inputs (Level 3) | State and municipal bonds
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	5
Significant Unobservable Inputs (Level 3) | Foreign government bonds
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Significant Unobservable Inputs (Level 3) | RMBS
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	12	13
Significant Unobservable Inputs (Level 3) | CMBS
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	8	8
Significant Unobservable Inputs (Level 3) | ABS
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	1,692	1,484
Significant Unobservable Inputs (Level 3) | Hybrid and redeemable preferred securities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	51	48
Significant Unobservable Inputs (Level 3) | Trading securities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	271	284
Significant Unobservable Inputs (Level 3) | Equity securities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	39	42
Significant Unobservable Inputs (Level 3) | Mortgage loans on real estate
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	289	288
Significant Unobservable Inputs (Level 3) | Derivative investments
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	727	622
Significant Unobservable Inputs (Level 3) | Other investments – short-term investments
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Significant Unobservable Inputs (Level 3) | Cash and invested cash
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Significant Unobservable Inputs (Level 3) | MRB assets
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	4,878	3,894
Significant Unobservable Inputs (Level 3) | Ceded MRBs
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	2	2
Liabilities	(360)	(239)
Significant Unobservable Inputs (Level 3) | RILA, fixed indexed annuity and IUL contracts
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	973	940
Liabilities	(10,896)	(9,077)
Significant Unobservable Inputs (Level 3) | Separate account assets
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets	0	0
Significant Unobservable Inputs (Level 3) | Reinsurance-related embedded derivatives
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Liabilities	(583)	(789)
Significant Unobservable Inputs (Level 3) | MRB liabilities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Liabilities	(1,266)	(1,716)
Significant Unobservable Inputs (Level 3) | Derivative liabilities
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Liabilities	$ (726)	$ (586)

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Fair Value Measured on a Recurring Basis Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Beginning Fair Value	$ (4,458)	$ 269
Items Included in Net Income	(1,548)	(776)
Gains (Losses) in OCI and Other	(8)	25
Issuances, Sales, Maturities, Settlements, Calls, Net	72	(453)
Transfers Into or Out of Level 3, Net	(70)	(165)
Ending Fair Value	(6,012)	(1,100)
Corporate bonds | Fixed maturity AFS securities, at fair value
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Beginning Fair Value	2,497	2,295
Items Included in Net Income	2	1
Gains (Losses) in OCI and Other	(10)	13
Issuances, Sales, Maturities, Settlements, Calls, Net	22	30
Transfers Into or Out of Level 3, Net	(22)	16
Ending Fair Value	2,489	2,355
State and municipal bonds | Fixed maturity AFS securities, at fair value
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Beginning Fair Value	5	35
Items Included in Net Income	0	0
Gains (Losses) in OCI and Other	0	1
Issuances, Sales, Maturities, Settlements, Calls, Net	0	0
Transfers Into or Out of Level 3, Net	(5)	0
Ending Fair Value	0	36
RMBS | Fixed maturity AFS securities, at fair value
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Beginning Fair Value	13	1
Items Included in Net Income	0	0
Gains (Losses) in OCI and Other	(1)	0
Issuances, Sales, Maturities, Settlements, Calls, Net	0	0
Transfers Into or Out of Level 3, Net	0	0
Ending Fair Value	12	1
CMBS | Fixed maturity AFS securities, at fair value
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Beginning Fair Value	8
Items Included in Net Income	0
Gains (Losses) in OCI and Other	0
Issuances, Sales, Maturities, Settlements, Calls, Net	0
Transfers Into or Out of Level 3, Net	0
Ending Fair Value	8
ABS | Fixed maturity AFS securities, at fair value
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Beginning Fair Value	1,484	1,117
Items Included in Net Income	0	0
Gains (Losses) in OCI and Other	(1)	8
Issuances, Sales, Maturities, Settlements, Calls, Net	201	168
Transfers Into or Out of Level 3, Net	8	(193)
Ending Fair Value	1,692	1,100
Hybrid and redeemable preferred securities | Fixed maturity AFS securities, at fair value
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Beginning Fair Value	48	49
Items Included in Net Income	0	0
Gains (Losses) in OCI and Other	3	0
Issuances, Sales, Maturities, Settlements, Calls, Net	0	(2)
Transfers Into or Out of Level 3, Net	0	12
Ending Fair Value	51	59
Trading securities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Beginning Fair Value	284	581
Items Included in Net Income	0	4
Gains (Losses) in OCI and Other	0	0
Issuances, Sales, Maturities, Settlements, Calls, Net	(13)	(127)
Transfers Into or Out of Level 3, Net	0	0
Ending Fair Value	271	458
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Beginning Fair Value	42	153
Items Included in Net Income	(3)	(16)
Gains (Losses) in OCI and Other	0	0
Issuances, Sales, Maturities, Settlements, Calls, Net	0	0
Transfers Into or Out of Level 3, Net	0	0
Ending Fair Value	39	137
Mortgage loans on real estate
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Beginning Fair Value	288	487
Items Included in Net Income	0	2
Gains (Losses) in OCI and Other	1	3
Issuances, Sales, Maturities, Settlements, Calls, Net	0	(2)
Transfers Into or Out of Level 3, Net	0	0
Ending Fair Value	289	490
Derivative investments
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Beginning Fair Value	36	2
Items Included in Net Income	12	(1)
Gains (Losses) in OCI and Other	0	0
Issuances, Sales, Maturities, Settlements, Calls, Net	4	0
Transfers Into or Out of Level 3, Net	(51)	0
Ending Fair Value	1	1
Ceded MRBs | Other Assets
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Beginning Fair Value	2	12
Items Included in Net Income	0	(6)
Gains (Losses) in OCI and Other	0	0
Issuances, Sales, Maturities, Settlements, Calls, Net	0	0
Transfers Into or Out of Level 3, Net	0	0
Ending Fair Value	2	6
Ceded MRBs | Other Liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Beginning Fair Value	(239)	(205)
Items Included in Net Income	(121)	(47)
Gains (Losses) in OCI and Other	0	0
Issuances, Sales, Maturities, Settlements, Calls, Net	0	0
Transfers Into or Out of Level 3, Net	0	0
Ending Fair Value	(360)	(252)
Indexed annuity ceded embedded derivatives | Other Assets
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Beginning Fair Value	940	525
Items Included in Net Income	33	6
Gains (Losses) in OCI and Other	0	0
Issuances, Sales, Maturities, Settlements, Calls, Net	0	(226)
Transfers Into or Out of Level 3, Net	0	0
Ending Fair Value	973	305
RILA, fixed indexed annuity and IUL contracts | Policyholder Account Balances
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Beginning Fair Value	(9,077)	(4,783)
Items Included in Net Income	(1,677)	(719)
Gains (Losses) in OCI and Other	0	0
Issuances, Sales, Maturities, Settlements, Calls, Net	(142)	(294)
Transfers Into or Out of Level 3, Net	0	0
Ending Fair Value	(10,896)	$ (5,796)
Reinsurance-related embedded derivatives | Other Liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Beginning Fair Value	(789)
Items Included in Net Income	206
Gains (Losses) in OCI and Other	0
Issuances, Sales, Maturities, Settlements, Calls, Net	0
Transfers Into or Out of Level 3, Net	0
Ending Fair Value	$ (583)

Fair Value of Financial Instr_8

Fair Value of Financial Instruments - Schedule of Investment Holdings Movements (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value Investments Entities That Calculate Net Asset Value Per Share Unobservable Input Investment Holdings Movements [Abstract]
Issuances	$ 326	$ 133
Sales	(144)	(90)
Maturities	(5)	(8)
Settlements	(104)	(486)
Calls	(1)	(2)
Total	72	(453)
Corporate bonds | Fixed maturity AFS securities, at fair value
Fair Value Investments Entities That Calculate Net Asset Value Per Share Unobservable Input Investment Holdings Movements [Abstract]
Issuances	277	141
Sales	(141)	(35)
Maturities	(2)	(8)
Settlements	(111)	(68)
Calls	(1)	0
Total	22	30
ABS | Fixed maturity AFS securities, at fair value
Fair Value Investments Entities That Calculate Net Asset Value Per Share Unobservable Input Investment Holdings Movements [Abstract]
Issuances	264	241
Sales	0	(2)
Maturities	0	0
Settlements	(63)	(71)
Calls	0	0
Total	201	168
Hybrid and redeemable preferred securities | Fixed maturity AFS securities, at fair value
Fair Value Investments Entities That Calculate Net Asset Value Per Share Unobservable Input Investment Holdings Movements [Abstract]
Issuances		0
Sales		0
Maturities		0
Settlements		0
Calls		(2)
Total		(2)
Trading securities
Fair Value Investments Entities That Calculate Net Asset Value Per Share Unobservable Input Investment Holdings Movements [Abstract]
Issuances	0	0
Sales	(2)	(53)
Maturities	0	0
Settlements	(11)	(74)
Calls	0	0
Total	(13)	(127)
Mortgage loans on real estate
Fair Value Investments Entities That Calculate Net Asset Value Per Share Unobservable Input Investment Holdings Movements [Abstract]
Issuances	1	1
Sales	(1)	0
Maturities	0	0
Settlements	0	(3)
Calls	0	0
Total	0	(2)
Derivative investments
Fair Value Investments Entities That Calculate Net Asset Value Per Share Unobservable Input Investment Holdings Movements [Abstract]
Issuances	7
Sales	0
Maturities	(3)
Settlements	0
Calls	0
Total	4
Indexed annuity ceded embedded derivatives | Other Assets
Fair Value Investments Entities That Calculate Net Asset Value Per Share Unobservable Input Investment Holdings Movements [Abstract]
Issuances	26	50
Sales	0	0
Maturities	0	0
Settlements	(26)	(276)
Calls	0	0
Total	0	(226)
RILA, fixed indexed annuity and IUL contracts | Policyholder Account Balances
Fair Value Investments Entities That Calculate Net Asset Value Per Share Unobservable Input Investment Holdings Movements [Abstract]
Issuances	(249)	(300)
Sales	0	0
Maturities	0	0
Settlements	107	6
Calls	0	0
Total	$ (142)	$ (294)

Fair Value of Financial Instr_9

Fair Value of Financial Instruments - Changes in Unrealized Gains (Losses) Within Level 3 Financial Instruments Carried at Fair Value and Still Held (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring Basis Level 3 Activity [Line Items]
Changes in unrealized gains (losses) included in net income	$ 2,356	$ (801)
Trading securities
Fair Value Assets And Liabilities Measured On Recurring Basis Level 3 Activity [Line Items]
Changes in unrealized gains (losses) included in net income	0	6
Equity securities
Fair Value Assets And Liabilities Measured On Recurring Basis Level 3 Activity [Line Items]
Changes in unrealized gains (losses) included in net income	(3)	(16)
Mortgage loans on real estate
Fair Value Assets And Liabilities Measured On Recurring Basis Level 3 Activity [Line Items]
Changes in unrealized gains (losses) included in net income	0	2
Derivative investments
Fair Value Assets And Liabilities Measured On Recurring Basis Level 3 Activity [Line Items]
Changes in unrealized gains (losses) included in net income	16	(2)
MRBs
Fair Value Assets And Liabilities Measured On Recurring Basis Level 3 Activity [Line Items]
Changes in unrealized gains (losses) included in net income	1,896	(638)
Reinsurance-related embedded derivatives
Fair Value Assets And Liabilities Measured On Recurring Basis Level 3 Activity [Line Items]
Changes in unrealized gains (losses) included in net income	206	0
Indexed annuity ceded embedded derivatives
Fair Value Assets And Liabilities Measured On Recurring Basis Level 3 Activity [Line Items]
Changes in unrealized gains (losses) included in net income	$ 241	$ (153)

Fair Value of Financial Inst_10

Fair Value of Financial Instruments - Changes in Unrealized Gains (Losses) Included in OCI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring Basis Level 3 Activity [Line Items]
Unrealized gains (losses) included in OCI, net	$ (9)	$ 24
Corporate bonds
Fair Value Assets And Liabilities Measured On Recurring Basis Level 3 Activity [Line Items]
Unrealized gains (losses) included in OCI, net	(11)	13
State and municipal bonds
Fair Value Assets And Liabilities Measured On Recurring Basis Level 3 Activity [Line Items]
Unrealized gains (losses) included in OCI, net	0	1
ABS
Fair Value Assets And Liabilities Measured On Recurring Basis Level 3 Activity [Line Items]
Unrealized gains (losses) included in OCI, net	(1)	8
Hybrid and redeemable preferred securities
Fair Value Assets And Liabilities Measured On Recurring Basis Level 3 Activity [Line Items]
Unrealized gains (losses) included in OCI, net	2	0
Mortgage loans on real estate
Fair Value Assets And Liabilities Measured On Recurring Basis Level 3 Activity [Line Items]
Unrealized gains (losses) included in OCI, net	$ 1	$ 2

Fair Value of Financial Inst_11

Fair Value of Financial Instruments - Components of the Transfers In and Out of Level 3 (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net [Abstract]
Transfers Into Level 3	$ 53	$ 71
Transfers Out of Level 3	(123)	(236)
Total	(70)	(165)
Corporate bonds
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net [Abstract]
Transfers Into Level 3	22	59
Transfers Out of Level 3	(44)	(43)
Total	(22)	16
State and municipal bonds
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net [Abstract]
Transfers Into Level 3	0	0
Transfers Out of Level 3	(5)	0
Total	(5)	0
ABS
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net [Abstract]
Transfers Into Level 3	31	0
Transfers Out of Level 3	(23)	(193)
Total	8	(193)
Hybrid and redeemable preferred securities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net [Abstract]
Transfers Into Level 3	0	12
Transfers Out of Level 3	0	0
Total	0	12
Derivative investments
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net [Abstract]
Transfers Into Level 3	0	0
Transfers Out of Level 3	(51)	0
Total	$ (51)	$ 0

Fair Value of Financial Inst_12

Fair Value of Financial Instruments - Fair Value Inputs Quantitative Information (Details) $ in Millions	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Assets
Fair Value	$ 87,764	$ 88,738
Market risk benefit assets	4,878	3,894
Liabilities
Market risk benefit liabilities	(1,266)	(1,716)
Corporate bonds
Assets
Fair Value	68,533	69,657
State and municipal bonds
Assets
Fair Value	2,743	2,790
ABS
Assets
Fair Value	12,349	12,171
CMBS
Assets
Fair Value	1,484	1,424
Hybrid and redeemable preferred securities
Assets
Fair Value	242	247
Significant Unobservable Inputs (Level 3)
Assets
Equity securities	5	5
Market risk benefit assets	4,878	3,894
Embedded derivative asset	973	940
Liabilities
Embedded derivative liability	(10,803)	(9,013)
Market risk benefit liabilities	(1,266)	(1,716)
Significant Unobservable Inputs (Level 3) | Corporate bonds
Assets
Fair Value	202	186
Significant Unobservable Inputs (Level 3) | State and municipal bonds
Assets
Fair Value		5
Significant Unobservable Inputs (Level 3) | ABS
Assets
Fair Value	11	12
Significant Unobservable Inputs (Level 3) | CMBS
Assets
Fair Value	8	8
Significant Unobservable Inputs (Level 3) | Hybrid and redeemable preferred securities
Assets
Fair Value	7	7
Significant Unobservable Inputs (Level 3) | Other assets – ceded MRBs
Assets
Market risk benefit assets	2	2
Significant Unobservable Inputs (Level 3) | Other liabilities – ceded MRBs
Liabilities
Market risk benefit liabilities	$ (360)	$ (239)
Significant Unobservable Inputs (Level 3) | Minimum | Liquidity/Duration Adjustment
Assets
Equity securities, measurement input	0.045	0.045
Significant Unobservable Inputs (Level 3) | Minimum | Liquidity/Duration Adjustment | Corporate bonds
Assets
Fixed maturity AFS and trading securities, measurement input	(0.001)	(0.002)
Significant Unobservable Inputs (Level 3) | Minimum | Liquidity/Duration Adjustment | State and municipal bonds
Assets
Fixed maturity AFS and trading securities, measurement input		0.009
Significant Unobservable Inputs (Level 3) | Minimum | Liquidity/Duration Adjustment | ABS
Assets
Fixed maturity AFS and trading securities, measurement input	0.016	0.018
Significant Unobservable Inputs (Level 3) | Minimum | Liquidity/Duration Adjustment | CMBS
Assets
Fixed maturity AFS and trading securities, measurement input	0.020	0.023
Significant Unobservable Inputs (Level 3) | Minimum | Liquidity/Duration Adjustment | Hybrid and redeemable preferred securities
Assets
Fixed maturity AFS and trading securities, measurement input	0.013	0.014
Significant Unobservable Inputs (Level 3) | Minimum | Lapse
Assets
Embedded derivative asset, measurement input	0	0
Liabilities
Embedded derivative liability, measurement input	0	0
Significant Unobservable Inputs (Level 3) | Minimum | Lapse | Other assets – ceded MRBs
Assets
Market risk benefit, measurement input	0.01	0.01
Significant Unobservable Inputs (Level 3) | Minimum | Lapse | Other liabilities – ceded MRBs
Assets
Market risk benefit, measurement input	0.01	0.01
Significant Unobservable Inputs (Level 3) | Minimum | Utilization of GLB Withdrawls | Other assets – ceded MRBs
Assets
Market risk benefit, measurement input	0.85	0.85
Significant Unobservable Inputs (Level 3) | Minimum | Utilization of GLB Withdrawls | Other liabilities – ceded MRBs
Assets
Market risk benefit, measurement input	0.85	0.85
Significant Unobservable Inputs (Level 3) | Minimum | Claims Utilization Factor | Other assets – ceded MRBs
Assets
Market risk benefit, measurement input	0.60	0.60
Significant Unobservable Inputs (Level 3) | Minimum | Claims Utilization Factor | Other liabilities – ceded MRBs
Assets
Market risk benefit, measurement input	0.60	0.60
Significant Unobservable Inputs (Level 3) | Minimum | Premiums Utilization Factor | Other assets – ceded MRBs
Assets
Market risk benefit, measurement input	0.80	0.80
Significant Unobservable Inputs (Level 3) | Minimum | Premiums Utilization Factor | Other liabilities – ceded MRBs
Assets
Market risk benefit, measurement input	0.80	0.80
Significant Unobservable Inputs (Level 3) | Minimum | Non-Performance Risk | Other assets – ceded MRBs
Assets
Market risk benefit, measurement input	0.0031	0.0051
Significant Unobservable Inputs (Level 3) | Minimum | Non-Performance Risk | Other liabilities – ceded MRBs
Assets
Market risk benefit, measurement input	0.0031	0.0051
Significant Unobservable Inputs (Level 3) | Minimum | Volatility | Other assets – ceded MRBs
Assets
Market risk benefit, measurement input	0.01	0.01
Significant Unobservable Inputs (Level 3) | Minimum | Volatility | Other liabilities – ceded MRBs
Assets
Market risk benefit, measurement input	0.01	0.01
Significant Unobservable Inputs (Level 3) | Maximum | Liquidity/Duration Adjustment
Assets
Equity securities, measurement input	0.045	0.045
Significant Unobservable Inputs (Level 3) | Maximum | Liquidity/Duration Adjustment | Corporate bonds
Assets
Fixed maturity AFS and trading securities, measurement input	0.038	0.037
Significant Unobservable Inputs (Level 3) | Maximum | Liquidity/Duration Adjustment | State and municipal bonds
Assets
Fixed maturity AFS and trading securities, measurement input		0.022
Significant Unobservable Inputs (Level 3) | Maximum | Liquidity/Duration Adjustment | ABS
Assets
Fixed maturity AFS and trading securities, measurement input	0.016	0.018
Significant Unobservable Inputs (Level 3) | Maximum | Liquidity/Duration Adjustment | CMBS
Assets
Fixed maturity AFS and trading securities, measurement input	0.020	0.023
Significant Unobservable Inputs (Level 3) | Maximum | Liquidity/Duration Adjustment | Hybrid and redeemable preferred securities
Assets
Fixed maturity AFS and trading securities, measurement input	0.015	0.015
Significant Unobservable Inputs (Level 3) | Maximum | Lapse
Assets
Embedded derivative asset, measurement input	0.09	0.09
Liabilities
Embedded derivative liability, measurement input	0.09	0.09
Significant Unobservable Inputs (Level 3) | Maximum | Lapse | Other assets – ceded MRBs
Assets
Market risk benefit, measurement input	0.30	0.30
Significant Unobservable Inputs (Level 3) | Maximum | Lapse | Other liabilities – ceded MRBs
Assets
Market risk benefit, measurement input	0.30	0.30
Significant Unobservable Inputs (Level 3) | Maximum | Utilization of GLB Withdrawls | Other assets – ceded MRBs
Assets
Market risk benefit, measurement input	1	1
Significant Unobservable Inputs (Level 3) | Maximum | Utilization of GLB Withdrawls | Other liabilities – ceded MRBs
Assets
Market risk benefit, measurement input	1	1
Significant Unobservable Inputs (Level 3) | Maximum | Claims Utilization Factor | Other assets – ceded MRBs
Assets
Market risk benefit, measurement input	1	1
Significant Unobservable Inputs (Level 3) | Maximum | Claims Utilization Factor | Other liabilities – ceded MRBs
Assets
Market risk benefit, measurement input	1	1
Significant Unobservable Inputs (Level 3) | Maximum | Premiums Utilization Factor | Other assets – ceded MRBs
Assets
Market risk benefit, measurement input	1.15	1.15
Significant Unobservable Inputs (Level 3) | Maximum | Premiums Utilization Factor | Other liabilities – ceded MRBs
Assets
Market risk benefit, measurement input	1.15	1.15
Significant Unobservable Inputs (Level 3) | Maximum | Non-Performance Risk | Other assets – ceded MRBs
Assets
Market risk benefit, measurement input	0.0203	0.0213
Significant Unobservable Inputs (Level 3) | Maximum | Non-Performance Risk | Other liabilities – ceded MRBs
Assets
Market risk benefit, measurement input	0.0203	0.0213
Significant Unobservable Inputs (Level 3) | Maximum | Volatility | Other assets – ceded MRBs
Assets
Market risk benefit, measurement input	0.29	0.29
Significant Unobservable Inputs (Level 3) | Maximum | Volatility | Other liabilities – ceded MRBs
Assets
Market risk benefit, measurement input	0.29	0.29
Significant Unobservable Inputs (Level 3) | Weighted Average Range | Liquidity/Duration Adjustment
Assets
Equity securities, measurement input	0.045	0.045
Significant Unobservable Inputs (Level 3) | Weighted Average Range | Liquidity/Duration Adjustment | Corporate bonds
Assets
Fixed maturity AFS and trading securities, measurement input	0.020	0.021
Significant Unobservable Inputs (Level 3) | Weighted Average Range | Liquidity/Duration Adjustment | State and municipal bonds
Assets
Fixed maturity AFS and trading securities, measurement input		0.021
Significant Unobservable Inputs (Level 3) | Weighted Average Range | Liquidity/Duration Adjustment | ABS
Assets
Fixed maturity AFS and trading securities, measurement input	0.016	0.018
Significant Unobservable Inputs (Level 3) | Weighted Average Range | Liquidity/Duration Adjustment | CMBS
Assets
Fixed maturity AFS and trading securities, measurement input	0.020	0.023
Significant Unobservable Inputs (Level 3) | Weighted Average Range | Liquidity/Duration Adjustment | Hybrid and redeemable preferred securities
Assets
Fixed maturity AFS and trading securities, measurement input	0.014	0.015
Significant Unobservable Inputs (Level 3) | Weighted Average Range | Utilization of GLB Withdrawls | Other assets – ceded MRBs
Assets
Market risk benefit, measurement input	0.94	0.94
Significant Unobservable Inputs (Level 3) | Weighted Average Range | Utilization of GLB Withdrawls | Other liabilities – ceded MRBs
Assets
Market risk benefit, measurement input	0.94	0.94
Significant Unobservable Inputs (Level 3) | Weighted Average Range | Non-Performance Risk | Other assets – ceded MRBs
Assets
Market risk benefit, measurement input	0.0162	0.0178
Significant Unobservable Inputs (Level 3) | Weighted Average Range | Non-Performance Risk | Other liabilities – ceded MRBs
Assets
Market risk benefit, measurement input	0.0162	0.0178
Significant Unobservable Inputs (Level 3) | Weighted Average Range | Volatility | Other assets – ceded MRBs
Assets
Market risk benefit, measurement input	0.1414	0.1392
Significant Unobservable Inputs (Level 3) | Weighted Average Range | Volatility | Other liabilities – ceded MRBs
Assets
Market risk benefit, measurement input	0.1414	0.1392

Contingencies and Commitments (

Contingencies and Commitments (Details) - USD ($) $ in Thousands		3 Months Ended
	Oct. 05, 2023	Mar. 31, 2024	Mar. 08, 2024	Jun. 14, 2023
Commitments and Contingencies Disclosure [Abstract]
Loss contingency accrual			$ 147,500
Loss contingency accrual, provision		$ 110,000
Loss contingency, estimate	$ 109,960	$ 150,000		$ 117,750
Loss contingency, insurance rate freeze, term	5 years
Loss contingency, percentage of policyholder claim amounts	0.14%

Shares and Stockholders' Equity

Shares and Stockholders' Equity - Schedule of Preferred Share Authorized, Issued and Outstanding (Details) - shares	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Preferred stock - authorized (in shares)	10,000,000	10,000,000
Preferred stock - issued (in shares)	40,000	40,000
Preferred stock - outstanding (in shares)	40,000	40,000
9.250% Fixed Rate Reset Non-Cumulative Preferred Stock, Series C
Class of Stock [Line Items]
Preferred stock - authorized (in shares)	20,000	20,000
Preferred stock - issued (in shares)	20,000	20,000
Preferred stock - outstanding (in shares)	20,000	20,000
Percent of non cumulative preferred stock	9.25%
9.000% Non-Cumulative Preferred Stock, Series D
Class of Stock [Line Items]
Preferred stock - authorized (in shares)	20,000	20,000
Preferred stock - issued (in shares)	20,000	20,000
Preferred stock - outstanding (in shares)	20,000	20,000
9.000% Non-Cumulative Preferred Stock, Series D | Series D Depositary Shares
Class of Stock [Line Items]
Percent of non cumulative preferred stock	9%
Not designated
Class of Stock [Line Items]
Preferred stock - authorized (in shares)	9,960,000	9,960,000
Preferred stock - issued (in shares)	0	0
Preferred stock - outstanding (in shares)	0	0

Shares and Stockholders' Equi_2

Shares and Stockholders' Equity - Schedule of Preferred Stock Dividends (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Class of Stock [Line Items]
Dividend Per Share (in dollars per share)	$ 1,718.75	$ 1,254.69
Aggregate Dividend	$ 34	$ 25
Series C Preferred Stock
Class of Stock [Line Items]
Dividend Per Share (in dollars per share)	$ 1,156.25	$ 635.94
Aggregate Dividend	$ 23	$ 13
Series D Preferred Stock
Class of Stock [Line Items]
Dividend Per Share (in dollars per share)	$ 562.50	$ 618.75
Aggregate Dividend	$ 11	$ 12

Shares and Stockholders' Equi_3

Shares and Stockholders' Equity - Changes in Common Stock (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance as of beginning-of-year (in shares)	169,666,137	169,220,511
Stock compensation/issued for benefit plans (in shares)	350,750	317,248
Balance as of end-of-year (in shares)	170,016,887	169,537,759

Shares and Stockholders' Equi_4

Shares and Stockholders' Equity - Reconciliation of the Denominator Calculations of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Stockholders' Equity Note [Abstract]
Net income (loss) available to common stockholders – basic	$ 1,187	$ (906)
Net income (loss) available to common stockholders – diluted	$ 1,191	$ (909)
Weighted-average shares, as used in basic calculation (in shares)	170,049,994	169,357,846
Incremental common shares from assumed exercise or issuance of stock-based incentive compensation awards (in shares)	1,096,272	573,348
Average deferred compensation shares (in shares)	688,480	553,966
Weighted-average shares, as used in diluted calculation (in shares)	171,834,746	170,485,160
Net income (loss) per share:
Basic (in dollars per share)	$ 6.98	$ (5.35)
Diluted (in dollars per share)	$ 6.93	$ (5.37)

Shares and Stockholders_ Equi_3

Shares and Stockholders’ Equity - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Stockholders' Equity Note [Abstract]
Deferred compensation plan mark to market adjustment	$ (3)	$ 3

Shares and Stockholders' Equi_5

Shares and Stockholders' Equity - Components and Changes in AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Change in our unrealized gain on derivative instruments in accumulated OCI
Balance as of beginning-of-year	$ 6,893
Balance as of end-of-period	7,546	$ 6,732
Unrealized Gain (Loss) on Fixed Maturity AFS Securities and Certain
Change in our unrealized gain on derivative instruments in accumulated OCI
Balance as of beginning-of-year	(5,188)	(8,916)
Income tax benefit (expense)	71	(465)
Reclassification adjustment for gains (losses) included in net income (loss)	(55)	(39)
Income tax benefit (expense)	12	8
Balance as of end-of-period	(5,426)	(7,177)
Unrealized holding gains (losses) arising during the year
Change in our unrealized gain on derivative instruments in accumulated OCI
Changes arising during the year	(1,140)	2,357
Change in foreign currency exchange rate adjustment
Change in our unrealized gain on derivative instruments in accumulated OCI
Changes arising during the year	(103)	76
Change in future contract benefits and policyholder account balances, net of reinsurance
Change in our unrealized gain on derivative instruments in accumulated OCI
Changes arising during the year	891	(260)
Unrealized Gain (Loss) on Derivative Instruments
Change in our unrealized gain on derivative instruments in accumulated OCI
Balance as of beginning-of-year	375	388
Income tax benefit (expense)	(35)	(15)
Reclassification adjustment for gains (losses) included in net income (loss)	24	22
Income tax benefit (expense)	(5)	(5)
Balance as of end-of-period	486	423
Unrealized holding gains (losses) arising during the year
Change in our unrealized gain on derivative instruments in accumulated OCI
Changes arising during the year	64	134
Change in foreign currency exchange rate adjustment
Change in our unrealized gain on derivative instruments in accumulated OCI
Changes arising during the year	101	(67)
Market Risk Benefit Non-Performance Risk Gain (Loss)
Change in our unrealized gain on derivative instruments in accumulated OCI
Balance as of beginning-of-year	1,070	1,741
Adjustment arising during the year	(590)	1,306
Income tax benefit (expense)	126	(281)
Balance as of end-of-period	606	2,766
Policyholder Liability Discount Rate Remeasurement Gain (Loss)
Change in our unrealized gain on derivative instruments in accumulated OCI
Balance as of beginning-of-year	587	747
Adjustment arising during the year	147	(258)
Income tax benefit (expense)	(31)	56
Balance as of end-of-period	703	545
Foreign Currency Translation Adjustment
Change in our unrealized gain on derivative instruments in accumulated OCI
Balance as of beginning-of-year	(26)	(34)
Foreign currency translation adjustment arising during the year	(1)	3
Balance as of end-of-period	(27)	(31)
Funded Status of Employee Benefit Plans
Change in our unrealized gain on derivative instruments in accumulated OCI
Balance as of beginning-of-year	(294)	(278)
Adjustment arising during the year	1	(2)
Balance as of end-of-period	$ (293)	$ (280)

Shares and Stockholders' Equi_6

Shares and Stockholders' Equity - Schedule of Reclassifications Out of AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest and debt expense	$ (81)	$ (83)
Net investment income	1,346	1,466
Realized gain (loss)	(434)	(828)
Benefits	(2,003)	(2,291)
Income (loss) before taxes	1,528	(1,170)
Federal income tax expense (benefit)	(306)	289
Net income (loss)	1,222	(881)
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Gain (Loss) on Fixed Maturity AFS Securities and Certain
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Realized gain (loss)	(54)	(39)
Benefits	(1)	0
Income (loss) before taxes	(55)	(39)
Federal income tax expense (benefit)	12	8
Net income (loss)	(43)	(31)
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Gain (Loss) on Derivative Instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest and debt expense	9	6
Net investment income	15	14
Realized gain (loss)	0	2
Income (loss) before taxes	24	22
Federal income tax expense (benefit)	(5)	(5)
Net income (loss)	$ 19	$ 17

Segment Information - Reconcili

Segment Information - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Total revenues	$ 4,116	$ 3,814
Other Operations
Segment Reporting Information [Line Items]
Total revenues	27	43
Revenue adjustments from annuity and life insurance product features
Segment Reporting Information [Line Items]
Total revenues	(580)	(773)
Credit loss-related adjustments
Segment Reporting Information [Line Items]
Total revenues	(1)	(22)
Investment gains (losses)
Segment Reporting Information [Line Items]
Total revenues	(81)	(57)
Changes in the fair value of reinsurance-related embedded derivatives, trading securities and certain mortgage loans
Segment Reporting Information [Line Items]
Total revenues	194	9
Annuities | Operating Segments
Segment Reporting Information [Line Items]
Total revenues	1,269	1,141
Life Insurance | Operating Segments
Segment Reporting Information [Line Items]
Total revenues	1,541	1,757
Group Protection | Operating Segments
Segment Reporting Information [Line Items]
Total revenues	1,425	1,388
Retirement Plan Services | Operating Segments
Segment Reporting Information [Line Items]
Total revenues	$ 322	$ 328

Segment Information - Reconci_2

Segment Information - Reconciliation of Income (Loss) from Operations by Segment to Consolidated Net Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Net income (loss)	$ 1,222	$ (881)
Other Operations
Segment Reporting Information [Line Items]
Net income (loss)	(235)	(87)
Net annuity product features, after-tax
Segment Reporting Information [Line Items]
Net income (loss)	1,141	(1,018)
Net life insurance product features, after-tax
Segment Reporting Information [Line Items]
Net income (loss)	(103)	(95)
Credit loss-related adjustments, after-tax
Segment Reporting Information [Line Items]
Net income (loss)	(1)	(18)
Investment gains (losses), after-tax
Segment Reporting Information [Line Items]
Net income (loss)	(65)	(45)
Changes in the fair value of reinsurance-related embedded derivatives, trading securities and certain mortgage loans, after-tax
Segment Reporting Information [Line Items]
Net income (loss)	153	7
Transaction and integration costs related to mergers, acquisitions and divestitures, after-tax
Segment Reporting Information [Line Items]
Net income (loss)	(8)	0
Annuities | Operating Segments
Segment Reporting Information [Line Items]
Net income (loss)	259	274
Life Insurance | Operating Segments
Segment Reporting Information [Line Items]
Net income (loss)	(35)	(13)
Group Protection | Operating Segments
Segment Reporting Information [Line Items]
Net income (loss)	80	71
Retirement Plan Services | Operating Segments
Segment Reporting Information [Line Items]
Net income (loss)	$ 36	$ 43

Segment Information - Reconci_3

Segment Information - Reconciliation of Assets from Segments to Consolidated (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total assets	$ 383,381	$ 372,413
Other Operations
Segment Reporting Information [Line Items]
Total assets	20,433	21,375
Annuities | Operating Segments
Segment Reporting Information [Line Items]
Total assets	194,359	185,599
Life Insurance | Operating Segments
Segment Reporting Information [Line Items]
Total assets	111,102	108,932
Group Protection | Operating Segments
Segment Reporting Information [Line Items]
Total assets	9,759	9,714
Retirement Plan Services | Operating Segments
Segment Reporting Information [Line Items]
Total assets	$ 47,728	$ 46,793

Realized Gain (Loss) (Details)

Realized Gain (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fixed maturity AFS securities:
Gross gains	$ 7	$ 26
Gross losses	(61)	(65)
Credit loss benefit (expense)	(2)	(17)
Realized gain (loss) on equity securities	11	(14)
Credit loss benefit (expense) on mortgage loans on real estate	0	(4)
Credit loss benefit (expense) on reinsurance-related assets	1	(1)
Realized gain (loss) on the market-to-market on certain instruments	12	(111)
Indexed product derivative results	145	(153)
Derivative results	(548)	(477)
Other realized gain (loss)	1	(12)
Total realized gain (loss)	(434)	(828)
Mortgages
Fixed maturity AFS securities:
Realized gain (loss) on the market-to-market on certain instruments	1	2
Equity securities
Fixed maturity AFS securities:
Realized gain (loss) on equity securities	$ 11	$ (14)

Federal Income Taxes (Details)

Federal Income Taxes (Details)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation, percent	20%	25%