Equitable Financial Life Insurance 10-K 18 Mar 24 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2023	Mar. 14, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	000-20501
Entity Registrant Name	EQUITABLE FINANCIAL LIFE INSURANCE COMPANY
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-5570651
Entity Address, Address Line One	1345 Avenue of the Americas
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10105
City Area Code	212
Local Phone Number	554-1234
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,000,000
Documents Incorporated by Reference	Equitable Financial Life Insurance Company meets the conditions set forth in General Instruction (I)(1)(a) and (b) of Form 10-K and is therefore filing this Form with the reduced disclosure format.
Entity Public Float			$ 0
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Amendment Flag	false
Entity Central Index Key	0000727920

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Firm ID	238
Auditor Location	New York, New York

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Investments:
Fixed maturities available-for-sale, at fair value (amortized cost of $61,884 and $68,087) (allowance for credit losses of $4 and $24)		$ 55,165	$ 58,947
Mortgage loans on real estate (net of allowance for credit losses of $277 and $129)		17,877	16,464
Policy loans		3,667	3,563
Other equity investments	[1]	3,162	2,942
Trading securities, at fair value		257	283
Other invested assets		5,952	2,835
Total investments		86,080	85,034
Cash and cash equivalents		2,833	797
Deferred policy acquisition costs		4,759	4,814
Amounts due from reinsurers (allowance for credit losses of $7 and $10)		20,636	7,131
Loans to affiliates		1,900	1,900
Current and deferred income taxes		2,755	1,376
Purchased market risk benefits		16,729	10,490
Other assets		5,326	3,917
Assets for market risk benefits		574	478
Separate Accounts assets		121,497	111,479
Total Assets		263,089	227,416
LIABILITIES
Policyholders’ account balances		82,990	79,742
Liability for market risk benefits		14,570	15,751
Future policy benefits and other policyholders' liabilities		16,573	15,935
Broker-dealer related payables		796	95
Amounts due to reinsurers		216	282
Funds withheld payable		10,603	0
Reinsurance deposit liabilities		14,965	2,507
Other liabilities		2,496	2,678
Separate Accounts liabilities		121,497	111,479
Total Liabilities		264,706	228,469
Redeemable noncontrolling interest	[2]	24	21
Commitments and contingent liabilities	[3]
Equity attributable to Equitable Financial:
Common stock, $1.25 par value; 2,000,000 shares authorized, issued and outstanding		2	2
Additional paid-in capital		6,895	8,536
Accumulated deficit		(1,600)	(1,757)
Accumulated other comprehensive income (loss)		(6,938)	(7,855)
Total Equity		(1,641)	(1,074)
Total Liabilities, Redeemable Noncontrolling Interest and Equity		$ 263,089	$ 227,416
[1] See Note 2 of the Notes to these Consolidated Financial Statements for details of balances with VIEs. See Note 20 of the Notes to these Consolidated Financial Statements for details of redeemable noncontrolling interest. See Note 18 of the Notes to these Consolidated Financial Statements for details of commitments and contingent liabilities.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Amortized cost of fixed maturities available-for-sale	$ 61,884	$ 68,087
Allowance for credit losses of fixed maturities available-for-sale	4	24
Allowance for credit losses of mortgage loans on real estate	277	129
Allowance for credit losses of amounts due from reinsurers	$ 7	$ 10
Common stock par value (in dollars per share)	$ 1.25	$ 1.25
Common stock authorized (in shares)	2,000,000	2,000,000
Common stock issued (in shares)	2,000,000	2,000,000
Common stock outstanding (in shares)	2,000,000	2,000,000

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
REVENUES
Policy charges and fee income		$ 1,095	$ 2,225	$ 2,562
Premiums		587	725	750
Net derivative gains (losses)		(2,417)	879	(7,216)
Net investment income (loss)		3,601	3,077	3,483
Investment gains (losses), net:
Credit and intent to sell losses on available for sale debt securities and loans		(216)	(319)	2
Other investment gains (losses), net		(584)	(643)	851
Total investment gains (losses), net		(800)	(962)	853
Investment management and service fees		315	706	1,004
Other income		1,134	334	225
Total revenues		3,515	6,984	1,661
BENEFITS AND OTHER DEDUCTIONS
Policyholders’ benefits		1,781	2,327	2,407
Remeasurement of liability for future policy benefits		37	50	30
Change in market risk benefits and purchased market risk benefits		(1,018)	(1,107)	(5,809)
Interest credited to policyholders’ account balances		1,384	1,309	1,115
Compensation and benefits		170	202	326
Commissions		893	702	687
Interest expense		9	6	1
Amortization of deferred policy acquisition costs		503	473	439
Other operating costs and expenses		829	1,040	1,162
Total benefits and other deductions		4,588	5,002	358
Income (loss) from continuing operations, before income taxes		(1,073)	1,982	1,303
Income tax (expense) benefit		1,230	(388)	(192)
Net income (loss)		157	1,594	1,111
Less: Net income (loss) attributable to the noncontrolling interest	[1]	1	(3)	0
Net income (loss) attributable to Equitable Financial		$ 156	$ 1,597	$ 1,111
[1] See Note 20 of the Notes to these Consolidated Financial Statements for details of redeemable noncontrolling interest.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
COMPREHENSIVE INCOME (LOSS)
Net income (loss)		$ 157	$ 1,594	$ 1,111
Other comprehensive income (loss), net of income taxes:
Change in unrealized gains (losses), net of adjustments	[1]	2,175	(11,460)	(2,503)
Change in market risk benefits - instrument-specific credit risk		(1,129)	1,247	51
Change in liability for future policy benefits - current discount rate		(128)	1,042	267
Change in defined benefit plan related items not yet recognized in periodic benefit cost, net of reclassification adjustment		(1)	0	0
Other comprehensive income (loss), net of income taxes		917	(9,171)	(2,185)
Comprehensive income (loss)		1,074	(7,577)	(1,074)
Less: Comprehensive income (loss) attributable to the noncontrolling interest	[1]	1	(3)	0
Comprehensive income (loss) attributable to Equitable Financial		$ 1,073	$ (7,574)	$ (1,074)
[1] See Note 17 of the Notes to these Consolidated Financial Statements for details of change in unrealized gains (losses), net of adjustments.

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Cumulative effect of adoption	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Deficit Cumulative effect of adoption	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Cumulative effect of adoption
Beginning balance at Dec. 31, 2020	$ 11,643	$ (3,783)	$ 2	$ 7,841	$ (795)	$ (2,689)	$ 4,595	$ (1,094)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividend to parent company	(8)				(8)
Capital contribution from parent company	750			750
Net income (loss)	1,110				1,110
Other comprehensive income (loss)	(2,185)						(2,185)
Other	(45)			(45)
Ending balance at Dec. 31, 2021	7,483		2	8,546	(2,381)		1,316
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividend to parent company	(967)				(967)
Net income (loss)	1,594				1,594
Other comprehensive income (loss)	(9,171)						(9,171)
Other	(13)			(10)	(3)
Ending balance at Dec. 31, 2022	(1,074)		2	8,536	(1,757)		(7,855)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividend to parent company	(1,657)			(1,657)
Net income (loss)	157				157
Other comprehensive income (loss)	917						917
Other	16			16
Ending balance at Dec. 31, 2023	$ (1,641)		$ 2	$ 6,895	$ (1,600)		$ (6,938)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income (loss)		$ 157	$ 1,594	$ 1,111
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Interest credited to policyholders’ account balances		1,384	1,309	1,115
Policy charges and fee income		(1,095)	(2,225)	(2,562)
Net derivative (gains) losses		2,417	(879)	7,216
Credit and intent to sell losses on available for sale debt securities and loans		216	319	(2)
Investment (gains) losses, net		584	643	(851)
Realized and unrealized (gains) losses on trading securities		(14)	41	58
Non-cash long-term incentive compensation expense		39	20	(16)
Amortization and depreciation		273	247	161
Equity (income) loss from limited partnerships		(46)	(186)	(489)
Remeasurement of liability for future policy benefits		37	50	30
Change in market risk benefits		(1,018)	(1,107)	(5,809)
Changes in:
Reinsurance recoverable	[1]	46	(539)	(977)
Capitalization of deferred policy acquisition costs		(513)	(702)	(741)
Funds withheld payable		89	0	0
Future policy benefits		280	(494)	(380)
Current and deferred income taxes		(1,231)	344	185
Other, net		(239)	(151)	581
Net cash provided by (used in) operating activities		1,366	(1,716)	(1,370)
Proceeds from the sale/maturity/prepayment of:
Fixed maturities, available-for-sale		9,340	14,966	33,815
Mortgage loans on real estate		446	1,154	1,677
Trading account securities		250	266	5,062
Short-term investments		1,861	0	87
Other		460	355	1,720
Payment for the purchase/origination of:
Fixed maturities, available-for-sale		(3,776)	(17,838)	(42,573)
Mortgage loans on real estate		(1,967)	(3,683)	(2,546)
Trading account securities		(223)	(220)	(164)
Short-term investments		(1,761)	(483)	(6)
Other		(687)	(745)	(2,663)
Cash settlements related to derivative instruments, net		(804)	(160)	(5,981)
Issuance of loans to affiliates		0	0	(1,000)
Investment in capitalized software, leasehold improvements and EDP equipment		(55)	(49)	(59)
Other, net		(114)	81	78
Net cash provided by (used in) investing activities		2,970	(6,356)	(12,553)
Policyholders’ account balances:
Deposits		8,619	15,372	16,930
Withdrawals		(11,792)	(6,833)	(7,073)
Transfers (to) from Separate Accounts		1,063	1,621	2,159
Payments of market risk benefits		(206)	(601)	(564)
Changes in securities lending payable		116	0	0
Change in collateralized pledged assets		(26)	36	34
Change in collateralized pledged liabilities		1,579	(1,572)	1,411
Capital contribution from parent company		0	0	750
Shareholder dividend paid		(1,657)	(930)	(7)
Purchase (redemption) of noncontrolling interests of consolidated company-sponsored investment funds		4	3	13
Other, net		0	(42)	42
Net cash provided by (used in) financing activities		(2,300)	7,054	13,695
Change in cash and cash equivalents		2,036	(1,018)	(228)
Cash and cash equivalents, beginning of period		797	1,815	2,043
Cash and cash equivalents, end of period		2,833	797	1,815
Supplemental cash flow information:
Income taxes (refunded) paid		1	45	(7)
Non-cash transactions from investing and financing activities:
Dividend to Parent		0	(37)	0
Transfer of assets to reinsurer		$ 0	$ (2,762)	$ (9,023)
[1]Amount includes cash paid for Global Atlantic Transaction in 2022 of $7 million and for Venerable Transaction in 2021 of $494 million. See Note 1 of the Notes to these Consolidated Financial Statements.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Statement of Cash Flows [Abstract]
Cash paid for Venerable reinsurance transaction	$ 7	$ 494

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2023
Organization [Abstract]
ORGANIZATION	ORGANIZATION Equitable Financial’s (collectively with its consolidated subsidiaries, the “Company”) primary business is providing variable annuity, life insurance and employee benefit products to both individuals and businesses. The Company is an indirect, wholly-owned subsidiary of Holdings. Equitable Financial is a stock life insurance company organized in 1859 under the laws of the State of New York. The Company’s two principal subsidiaries include Equitable Distributors, LLC (“Equitable Distributors”) and Equitable Investment Management Group, LLC (“EIMG”), which both are wholly-owned indirect subsidiaries of Holdings. Internal Reinsurance Treaty On May 17, 2023, Equitable Financial Life Insurance Company (“Equitable Financial”) entered into a reinsurance agreement (the “Reinsurance Treaty”) with its affiliate Equitable Financial Life Insurance Company of America (“Equitable America”), effective April 1, 2023. Pursuant to the Reinsurance Treaty, virtually all of Equitable Financial’s net retained General Account liabilities, including all of its net retained liabilities relating to the living benefit and death riders related to (i) its variable annuity contracts issued outside the State of New York prior to October 1, 2022 (and with respect to its EQUI-VEST variable annuity contracts issued outside the State of New York prior to February 1, 2023) and (ii) certain universal life insurance policies issued outside the State of New York prior to October 1, 2022, were reinsured to Equitable America on a coinsurance funds withheld basis. In addition, all of the Separate Accounts liabilities relating to such variable annuity contracts were reinsured to Equitable America on a modified coinsurance basis. Equitable America’s obligations under the Reinsurance Treaty are secured through Equitable Financial’s retention of certain assets supporting the reinsured liabilities. The New York Department of Financial Services (the “NYDFS”) and the Arizona Department of Insurance and Financial Institutions each approved the Reinsurance Treaty. As a condition to approving the Reinsurance Treaty, the NYDFS has required that the Company seeks to novate the reinsured contracts on a reasonable best effort basis either to Equitable America or another affiliate over the next three years. Novations of the reinsured contracts are subject to additional regulatory approvals, as well as certain policyholder approvals. At the effective date of the transaction, April 1, 2023, the Company recorded a funds withheld liability of $11.2 billion, reinsurance deposit liabilities of $12.9 billion, amounts due from reinsurers of $14.2 billion (includes $32.4 billion of ceded policyholder account balances related to the non-insulated (“NI”) modco offset by $28.8 billion of NI modco payable), purchased MRBs of $8.2 billion, and cost of reinsurance asset of $1.7 billion. Additionally, $64.1 billion of insulated Separate Account liabilities were ceded under a modified coinsurance portion of the agreement. Global Atlantic Reinsurance Transaction On October 3, 2022, Equitable Financial completed the transactions (the “Global Atlantic Transaction”) contemplated by the previously announced Master Transaction Agreement, dated August 16, 2022, by and between Equitable Financial and First Allmerica Financial Life Insurance Company, a Massachusetts-domiciled insurance company (the “Reinsurer”), a wholly owned subsidiary of Global Atlantic Financial Group. At the closing of the Global Atlantic Transaction, Equitable Financial and the Reinsurer entered into a Coinsurance and Modified Coinsurance Agreement (the “EQUI-VEST Reinsurance Agreement”), pursuant to which Equitable Financial ceded to the Reinsurer, on a combined coinsurance and modified coinsurance basis, a 50% quota share of approximately 360,000 legacy Group EQUI-VEST deferred variable annuity contracts issued by Equitable Financial between 1980 and 2008, which predominately include Equitable Financial’s highest guaranteed general account crediting rates of 3%, supported by general account assets of approximately $4 billion and $5 billion of Separate Account value (the “Reinsured Contracts”). The Reinsured Contracts predominately include certain of Equitable Financial’s contracts that offer the highest guaranteed general account crediting rates of 3%. At the closing of the Global Atlantic Transaction, the Reinsurer deposited assets supporting the general account liabilities relating to the Reinsured Contracts into a trust account for the benefit of Equitable Financial, which assets will secure its obligations to Equitable Financial under the EQUI-VEST Reinsurance Agreement. Commonwealth Annuity and Life Insurance Company, an insurance company domiciled in the Commonwealth of Massachusetts and affiliate of the Reinsurer (“Commonwealth”), provided a guarantee of the Reinsurer’s payment obligation to Equitable Financial under the EQUI-VEST Reinsurance Agreement. The Company transferred assets of $2.8 billion, including primarily available-for-sale securities, cash and policy loans as the consideration for the reinsurance transaction. In addition, the Company recorded $4.1 billion of direct insurance liabilities ceded under the reinsurance contract included in amounts due from reinsurers and $1.2 billion of deferred gain on cost of reinsurance included within other liabilities. Additionally, $5.3 billion of Separate Account liabilities were ceded under a modified coinsurance portion of the agreement.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions (including normal, recurring accruals) that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from these estimates. The accompanying consolidated financial statements present the consolidated results of operations, financial condition and cash flows of the Company and its subsidiaries and those investment companies, partnerships and joint ventures in which the Company has control and a majority economic interest as well as those VIEs that meet the requirements for consolidation. Financial results in the historical consolidated financial statements may not be indicative of the results of operations, comprehensive income (loss), financial position, equity or cash flows that would have been achieved had we operated as a separate, standalone entity during the reporting periods presented. We believe that the consolidated financial statements include all adjustments necessary for a fair presentation of the results of operations of the Company. All significant intercompany transactions and balances have been eliminated in consolidation. The years “2023”, “2022” and “2021” refer to the years ended December 31, 2023, 2022 and 2021, respectively. Recent Accounting Pronouncements Changes to U.S. GAAP are established by the FASB in the form of Accounting Standards Updates (“ASUs”) to the FASB Accounting Standards Codification (“ASC”). The Company considers the applicability and impact of all ASUs. ASUs listed below include those that have been adopted during the current fiscal year and/or those that have been issued but not yet adopted as of December 31, 2023, and as of the date of this filing. ASUs not listed below were assessed and determined to be either not applicable or not material. Adoption of New Accounting Pronouncements Description Effect on the Financial Statement or Other Significant Matters ASU 2018-12: Financial Services - Insurance (Topic 944) This ASU provides targeted improvements to existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The ASU primarily impacts four key areas, including: 2. Measurement of Market Risk Benefits (“MRBs”). MRBs, as defined under the ASU, will encompass certain GMxB features associated with variable annuity products and other general account annuities with other than nominal market risk. 3. Amortization of deferred acquisition costs. The ASU simplifies the amortization of deferred acquisition costs and other balances amortized in proportion to premiums, gross profits, or gross margins, requiring such balances to be amortized on a constant level basis over the expected term of the contracts. 4. Expanded footnote disclosures. The ASU requires additional disclosures including information about significant inputs, judgements, assumptions and methods used in measurement. On January 1, 2023, the Company adopted the new accounting standard ASU 2018-12 using the modified retrospective approach, except for MRBs which will use the full retrospective approach. Refer to “Transition impact of ASU 2018-12, Financial Services- Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts” section within this note for further details. Future Adoption of New Accounting Pronouncements Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2023-07: Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures This ASU provides improvements to reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple measures of segment profit or loss, provide new segment disclosure requirements for entities with a single reportable segment and contain other disclosure requirements. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024. A calendar year public entity will adopt the ASU for its 2024 Form 10-K. The ASU should be adopted retrospectively to all periods presented in the financial statements unless it is impracticable to do so. The Company is currently assessing the additional required disclosures under the ASU including providing new segment disclosure requirements for entities with a single reportable segment. Management is evaluating the impact the adoption of this guidance will have on the Company’s consolidated financial statements. ASU 2023-09: Income Taxes (Topic 740): Improvements to Income Tax Disclosures The ASU enhanced existing income tax disclosures primarily related to the rate reconciliation and income taxes paid information. With regard to the improvements to disclosures of rate reconciliation, a public business entity is required on an annual basis to (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. Similarly, a public entity is required to provide the amount of income taxes paid (net of refunds received) disaggregated by (1) federal, state, and foreign taxes and by(2) individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5 percent of total income taxes paid (net of refunds received). The ASU also includes certain other amendments to improve the effectiveness of income tax disclosures, for example, an entity is required to provide (1) pretax income (or loss) from continuing operations disaggregated between domestic and foreign, and (2) income tax expense (or benefit) from continuing operations disaggregated by federal, state, and foreign. The ASU will be effective for annual periods beginning after December 15, 2024. Entities are required to apply the ASU on a prospective basis. The adoption of ASU 2023-09 is not expected to materially impact the Company’s financial position, results of operation, or cash flows. SEC Release Nos. 33-11275; 34-99678, The Enhancement and Standardization of Climate-Related Disclosures for Investors The SEC adopted rules requiring registrants to disclose climate-related information in registration statements and annual reports. The new rules include disclosure of material climate-related risks, including descriptions of board oversight and risk management activities. the material impacts of these risks on a registrant’s strategy, business model and outlook and any material climate-related targets or goals. In addition, registrants will need to quantify certain effects of severe weather events and other natural conditions in a note to their audited financial statements. Financial statement and all other disclosures are required at the beginning of the fiscal year 2027 with disclosures about material expenditure and impact required at the beginning of the fiscal year 2028. Disclosures are provided prospectively upon adoption. The Company is currently assessing the additional required disclosures under the SEC Release. Management is evaluating the impact of the adoption of this guidance will have on the Company’s consolidated financial statements. Transition impact of ASU 2018-12, Financial Services—Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts The Company has not retrospectively adjusted its consolidated financial statements for the year ended December 31, 2020 to reflect the adoption of ASU 2018-12, consistent with the Division of Corporation Finance’s Financial Reporting Manual Section 11410.1. The Company adopted ASU 2018-12 for liability for future policy benefits (“LFPB”), additional insurance liabilities, DAC and balances amortized on a basis consistent with DAC on a modified retrospective basis. ASU 2018-12 was adopted for MRBs on a full retrospective basis. For the liability for future policy benefits, there is limited unfavorable retained earnings impact due to net premiums exceeding gross premiums. There is unfavorable accumulated other comprehensive income (“AOCI”) impact due to using the current single-A rate which is lower than the locked in discount rate. For market risk benefits, the transition adjustment to AOCI related to the effect of the changes in the instrument-specific credit risk of market risk benefits between the contract issue and transition date. The remaining transition difference was related to recording market risk benefits at fair value. This change was recorded as an adjustment to retained earnings as of the transition date. For DAC and balances amortized on a basis consistent with DAC including sales inducement assets and unearned revenue liabilities, there is no retained earnings impact due to application of the modified transition approach. There is a favorable AOCI impact due to the removal of DAC balances recorded in AOCI, offsetting the unfavorable AOCI impact resulting from LFPB. The following table presents the effect of transition adjustment to total equity resulting from the adoption of ASU 2018-12 as of January 1, 2021: Retained Earnings Accumulated Other Comprehensive Income Total (in millions) Liability for future policy benefits $ (2) $ (819) $ (821) Market risk benefits (3,402) (904) (4,306) DAC — 467 467 Unearned revenue liability and sales inducement assets (1) — (128) (128) Total transition adjustment before taxes (3,404) (1,384) (4,788) Income taxes 715 291 1,006 Total transition adjustment (net of taxes) $ (2,689) $ (1,093) $ (3,782) ______________ (1) Unearned revenue liability included within liability for future policy benefits financial statement line item in the consolidated balance sheets. Sales inducement assets are included in other assets in the consolidated balance sheets. The following table summarizes the balance of and changes in liability for future policy benefits on January 1, 2021 resulting from the adoption of ASU 2018-12: Term Payout Group Health Total (in millions) Balance, December 31, 2020 $ 1,415 $ 3,047 $ 771 $ 2,100 $ 7,333 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income — (171) (85) (100) (356) Effect of remeasurement of liability at current single A rate 559 531 94 300 1,484 Balance, January 1, 2021 (1) 1,974 3,407 780 2,300 8,461 Less: Reinsurance recoverable (372) — — (1,837) (2,209) Balance, January 1, 2021, net of reinsurance $ 1,602 $ 3,407 $ 780 $ 463 $ 6,252 ______________ (1) LFPB transition table not inclusive of the following transition adjustments to AOCI including PFBL of $30 million, premium deficiency reserve (“PDR”) of $(146) million, Rider Reserves, Term Reinsurance of $(79) million and Other of $(111) million, which primarily consists of DI Ceded, DI Assumed and Reinsurance Assumed. The following table summarizes the balance of and changes in the net liability position of market risk benefits on January 1, 2021 resulting from the adoption of ASU 2018-12: GMxB Legacy GMxB Core Purchased MRB Total (in millions) Balance, December 31, 2020 $ 19,891 $ 2,206 $ (2,943) $ 19,154 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income (70) (4) — (74) Adjustments for the cumulative effect of the changes in the instrument-specific credit risk between the original contract issuance date and the transition date 461 505 5 971 Adjustments for the remaining difference (exclusive of the instrument specific credit risk change and host contract adjustments) between previous carrying amount and fair value measurement for the MRB 4,122 (563) (194) 3,365 Balance, January 1, 2021 (1) $ 24,404 $ 2,144 $ (3,132) $ 23,416 ____________ (1) MRB transition table not inclusive of the following transition adjustments to retained earnings and AOCI including EQUI-VEST of $43 million, SCS of $21 million and Group Retirement EQUI-VEST of $(20) million. The following table summarizes the balance of and changes in DAC on January 1, 2021 resulting from the adoption of ASU 2018-12: Term UL (1) VUL (2) IUL (3) GMxB Legacy GMxB Core EI (4) IE (5) SCS EG (6) Momentum Total (in millions) Balance, December 31, 2020 $ 403 $ — $ — $ — $ 192 $ 1,635 $ 141 $ 95 $ 645 $ 581 $ 79 $ 3,771 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income — 5 6 — 8 11 13 (1) 210 53 22 327 Balance, January 1, 2020 (7) $ 403 $ 5 $ 6 $ — $ 200 $ 1,646 $ 154 $ 94 $ 855 $ 634 $ 101 $ 4,098 ______________ (1) “UL” defined as Universal Life (2) “VUL” defined as Variable Universal Life (3) “IUL” defined as Indexed Universal Life (4) “EI” defined as EQUI-VEST Individual (5) “IE” defined as Investment Edge (6) “EG” defined as EQUI-VEST Group (7) DAC transition table not inclusive of Closed Block of $136 million and Protection Solutions of $3 million transition adjustment. The following tables summarize the balance of and changes in sales inducement assets and unearned revenue liability on January 1, 2021 resulting from the adoption of ASU 2018-12: Sales Inducement Assets Total GMxB Legacy GMxB Core (in millions) Balance, December 31, 2020 $ 246 $ 158 $ 404 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income — — — Balance, January 1, 2021 $ 246 $ 158 $ 404 Unearned Revenue Liability Total UL VUL IUL (in millions) Balance, December 31, 2020 $ 31 $ 382 $ — $ 413 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income 29 99 — 128 Balance, January 1, 2021 $ 60 $ 481 $ — $ 541 Investments The carrying values of fixed maturities classified as AFS are reported at fair value. Changes in fair value are reported in OCI, net of allowance for credit losses, policy related amounts and deferred income taxes. Changes in credit losses are recognized in Investment gains (losses), net. The redeemable preferred stock investments that are reported in fixed maturities include REIT, perpetual preferred stock and redeemable preferred stock. These securities may not have a stated maturity, may not be cumulative and do not provide for mandatory redemption by the issuer. The Company determines the fair values of fixed maturities and equity securities based upon quoted prices in active markets, when available, or through the use of alternative approaches when market quotes are not readily accessible or available. These alternative approaches include matrix or model pricing and use of independent pricing services, each supported by reference to principal market trades or other observable market assumptions for similar securities. More specifically, the matrix pricing approach to fair value is a discounted cash flow methodology that incorporates market interest rates commensurate with the credit quality and duration of the investment. The Company’s management, with the assistance of its investment advisors, evaluates AFS debt securities that experienced a decline in fair value below amortized cost for credit losses which are evaluated in accordance with the new financial instruments credit losses guidance. Integral to this review is an assessment made each quarter, on a security-by-security basis, by the Company’s IUS Committee, of various indicators of credit deterioration to determine whether the investment security has experienced a credit loss. This assessment includes, but is not limited to, consideration of the severity of the unrealized loss, failure, if any, of the issuer of the security to make scheduled payments, actions taken by rating agencies, adverse conditions specifically related to the security or sector, and the financial strength, liquidity and continued viability of the issuer. The Company recognizes an allowance for credit losses on AFS debt securities with a corresponding adjustment to earnings rather than a direct write down that reduces the cost basis of the investment, and credit losses are limited to the amount by which the security’s amortized cost basis exceeds its fair value. Any improvements in estimated credit losses on AFS debt securities are recognized immediately in earnings. Management does not use the length of time a security has been in an unrealized loss position as a factor, either by itself or in combination with other factors, to conclude that a credit loss does not exist. When the Company determines that there is more than 50% likelihood that it is not going to recover the principal and interest cash flows related to an AFS debt security, the security is placed on nonaccrual status and the Company reverses accrued interest receivable against interest income. Since the nonaccrual policy results in a timely reversal of accrued interest receivable, the Company does not record an allowance for credit losses on accrued interest receivable. If there is no intent to sell or likely requirement to dispose of the fixed maturity security before its recovery, only the credit loss component of any resulting allowance is recognized in income (loss) and the remainder of the fair value loss is recognized in OCI. The amount of credit loss is the shortfall of the present value of the cash flows expected to be collected as compared to the amortized cost basis of the security. The present value is calculated by discounting management’s best estimate of projected future cash flows at the effective interest rate implicit in the debt security at the date of acquisition. Projections of future cash flows are based on assumptions regarding probability of default and estimates regarding the amount and timing of recoveries. These assumptions and estimates require use of management judgment and consider internal credit analyses as well as market observable data relevant to the collectability of the security. For mortgage and asset-backed securities, projected future cash flows also include assumptions regarding prepayments and underlying collateral value. Write-offs of AFS debt securities are recorded when all or a portion of a financial asset is deemed uncollectible. Full or partial write-offs are recorded as reductions to the amortized cost basis of the AFS debt security and deducted from the allowance in the period in which the financial assets are deemed uncollectible. The Company elected to reverse accrued interest deemed uncollectible as a reversal of interest income. In instances where the Company collects cash that it has previously written off, the recovery will be recognized through earnings or as a reduction of the amortized cost basis for interest and principal, respectively. Policy loans represent funds loaned to policyholders up to the cash surrender value of the associated insurance policies and are carried at the unpaid principal balances due to the Company from the policyholders. Interest income on policy loans is recognized in net investment income at the contract interest rate when earned. Policy loans are fully collateralized by the cash surrender value of the associated insurance policies. Partnerships, investment companies and joint venture interests that the Company has control of and has an economic interest in or those that meet the requirements for consolidation under accounting guidance for consolidation of VIEs are consolidated. Those that the Company does not have control of and does not have a majority economic interest in and those that do not meet the VIE requirements for consolidation are reported on the equity method of accounting and are reported in other equity investments. The Company records its interests in certain of these partnerships on a month or one quarter lag. Trading securities, which include equity securities and fixed maturities, are carried at fair value based on quoted market prices, with realized and unrealized gains (losses) reported in net investment income (loss) in the consolidated statements of income (loss). COLI has been purchased by the Company and certain subsidiaries on the lives of certain key employees and the Company and these subsidiaries are named as beneficiaries under these policies. COLI is carried at the cash surrender value of the policies. As of December 31, 2023 and 2022, the carrying value of COLI was $918 million and $888 million, respectively, and is reported in other invested assets in the consolidated balance sheets. Cash and cash equivalents includes cash on hand, demand deposits, money market accounts, overnight commercial paper and highly liquid debt instruments purchased with an original maturity of three months or less. Due to the short-term nature of these investments, the recorded value is deemed to approximate fair value. Derivatives Derivatives are financial instruments whose values are derived from interest rates, foreign exchange rates, financial indices, values of securities or commodities, credit spreads, market volatility, expected returns and liquidity. Values can also be affected by changes in estimates and assumptions, including those related to counterparty behavior and non-performance risk used in valuation models. Derivative financial instruments generally used by the Company include equity, currency, and interest rate futures, total return and/or other equity swaps, interest rate swaps and floors, swaptions, variance swaps and equity options, all of which may be exchange-traded or contracted in the OTC market. All derivative positions are carried in the consolidated balance sheets at fair value, generally by obtaining quoted market prices or through the use of valuation models. Freestanding derivative contracts are reported in the consolidated balance sheets either as assets within “other invested assets” or as liabilities within “other liabilities”. The Company nets the fair value of all derivative financial instruments with counterparties for which an ISDA Master Agreement and related CSA have been executed. All changes in the fair value of the Company’s freestanding derivative positions not designated to hedge accounting relationships, including net receipts and payments, are included in “net derivative gains (losses)” without considering changes in the fair value of the economically associated assets or liabilities. The Company has designated certain derivatives it uses to economically manage asset/liability risk in relationships which qualify for hedge accounting. To qualify for hedge accounting, we formally document our designation at inception of the hedge relationship as a cash flow, fair value or net investment hedge. This documentation includes our risk management objective and strategy for undertaking the hedging transaction. The Company identifies how the hedging instrument is expected to offset the designated risks related to the hedged item and the method that will be used to retrospectively and prospectively assess the hedge effectiveness. To qualify for hedge accounting, a hedging instrument must be assessed as being highly effective in offsetting the designated risk of the hedged item. Hedge effectiveness is formally assessed and documented at inception and periodically throughout the life of the hedge accounting relationship. The Company does not exclude any components of the hedging instrument from the effectiveness assessments and therefore does not separately measure or account for any excluded components of the hedging instrument. While in cash flow hedge relationships, any periodic net receipts and payments from the hedging instrument are included in the income or expense line that the hedged item’s periodic income or expense is recognized. Other changes in the fair value of the hedging instrument while in a cash flow hedging relationship are reported within OCI. These amounts are deferred in AOCI until they are reclassified to Net income (loss). The reclassified amount offsets the effect of the cash flows on Net income (loss) in the same period when the hedged item affects earnings and on the same line as the hedged item. We discontinue cash flow hedge accounting prospectively when the Company determines: (1) the hedging instrument is no longer highly effective in offsetting changes in the cash flow from the hedged risk, (2) the hedged item is no longer probable of occurring within two months of their forecast, or (3) the hedging instrument is otherwise redesignated from the hedging relationship. Changes in the fair value of the derivative after discontinuation of cash flow hedge accounting are accounted for as freestanding derivative positions not designated to hedge accounting relationships unless and until the derivative is redesignated to a hedge accounting relationship. When cash flow hedge accounting is discontinued the amounts deferred in AOCI during the hedge relationship continue to be deferred in AOCI, as long as the hedged items continue to be probable of occurring within two months of their forecast, until the hedged item affects Net income (loss). Any amount deferred in AOCI for hedged items which are no longer probable of occurring within two months of their forecast will be reclassified to “net derivative gains (losses)” at that time. The Company is a party to financial instruments and other contracts that contain “embedded” derivative instruments. At inception, the Company assesses whether the economic characteristics of the embedded instrument are “clearly and closely related” to the economic characteristics of the remaining component of the “host contract” and whether a separate instrument with the same terms as the embedded instrument would meet the definition of a derivative instrument. Once those criteria are met, the resulting embedded derivative is bifurcated from the host contract, carried in the consolidated balance sheets at fair value, and changes in its fair value are recognized immediately and captioned in the consolidated statements of income (loss) according to the nature of the related host contract. For certain financial instruments that contain an embedded derivative that otherwise would need to be bifurcated and reported at fair value, the Company instead may elect to carry the entire instrument at fair value. Mortgage Loans on Real Estate The Company invests in commercial, agricultural and residential mortgage loans which are included in the consolidated balance sheets as mortgage loans on real estate. Mortgage loans are stated at unpaid principal balances, net of unamortized discounts and the allowance for credit losses. The Company calculates the allowance for credit losses in accordance with the CECL model in order to provide for the risk of credit losses in the lending process. Expected credit losses for loans with similar risk characteristics are estimated on a collective (i.e., pool) basis in order to meet CECL’s risk of loss concept which requires the Company to consider possibilities of loss, even if remote. For collectively evaluated mortgages, the Company estimates the allowance for credit losses based on the amortized cost basis of its mortgages over their expected life using a PD / LGD model. The PD / LGD model incorporates the Company’s reasonable and supportable forecast of macroeconomic information over a specified period. The length of the reasonable and supportable forecast period is reassessed on a quarterly basis and may be adjusted as appropriate over time to be consistent with macroeconomic conditions and the environment as of the reporting date. For periods beyond the reasonable and supportable forecast period, the model reverts to historical loss information. The PD and LGD are estimated at the loan-level based on loans’ current and forecasted risk characteristics as well as macroeconomic forecasts. The PD is estimated using both macroeconomic conditions as well as individual loan risk characteristics including LTV ratios, DSC ratios, DTI ratio, seasoning, collateral type, geography, and underlying credit. The LGD is driven primarily by the type and value of collateral, and secondarily by expected liquidation costs and time to recovery. For individually evaluated mortgages, the Company continues to recognize a valuation allowance on the present value of expected future cash flows discounted at the loan’s original effective interest rate or on its collateral value. The CECL model is configured to the Company’s specifications and takes into consideration the detailed risk attributes of each discrete loan in the mortgage portfolio which include, but are not limited to the following: • LTV ratio - Derived from current loan balance divided by the fair market value of the property. An LTV ratio in excess of 100% indicates an underwater mortgage. • DSC ratio - Derived from actual operating earnings divided by annual debt service. If the ratio is below 1.0x, then the income from the property does not support the debt. • DTI ratio - is used for residential mortgage loans to assess a borrower’s ability to repay a loan. DTI ratio is derived by adding up all the borrower’s debt payments and dividing that sum by the borrower’s gross monthly income. • Consumer Credit Score - is used for residential mortgage loans to determine the borrower’s credit worthiness and eligibility for a residential loan based upon credit reports. • Occupancy - Criteria varies by property type but low or below market occupancy is an indicator of sub-par property performance. • Lease expirations - The percentage of leases expiring in the upcoming 12 to 36 months are monitored as a decline in rent and/or occupancy may negatively impact the debt service coverage ratio. In the case of single-tenant properties or properties with large tenant exposure, the lease expiration is a material risk factor. • Other - Any other factors such as maturity, borrower/tenant related issues, payment status, property condition, or current economic conditions may call into question the performance of the loan. Mortgage loans that do not share similar risk characteristics with other loans in the portfolio are individually evaluated quarterly by the Company’s IUS Committee. The allowance for credit losses on these individually evaluated mortgages is a loan-specific reserve as a result of the loan review process that is recorded based on the present value of expected future cash flows discounted at the loan’s effective interest rate or based on the fair value of the collateral. The individually assessed allowance for mortgage loans can increase or decrease from period to period based on such factors. Individually assessed loans may include, but are not limited to, mortgages that have deteriorated in credit quality such as a TDR and reasonably expected TDRs, mortgages for which foreclosure is probable, and mortgages which have been classified as “potential problem” or “problem” loans within the Company’s IUS Committee processes as described below. Within the IUS process, commercial mortgages 60 days or more past due and agricultural and residential mortgages 90 days or more past due, as well as all mortgages in the process of foreclosure, are identified as problem mortgage loans. Based on its monthly monitoring of mortgages, a class of potential problem mortgage loans are also identified, consisting of mortgage loans not currently classified as problem mortgage loans but for which management has doubts as to the ability of the borrower to comply with the present loan payment terms and which may result in the loan becoming a problem or being modified. The decision whether to classify a performing mortgage loan as a potential problem involves judgments by management as to likely future industry conditions and developments with respect to the borrower or the individual mortgaged property. Individually assessed mortgage loans without provision for losses are mortgage loans where the fair value of the collateral or the net present value of the expected future cash flows related to the loan equals or exceeds the recorded investment. Interest income earned on mortgage loans where the collateral value is used to measure impairment is recorded on a cash basis. Interest income on mortgage loans where the present value method is used to measure impairment is accrued on the net carrying value amount of the loan at the interest rate used to discount the cash flows. Mortgage loans are placed on nonaccrual status once management believes the collection of accrued interest is not probable. Once m

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS Fixed Maturities AFS The components of fair value and amortized cost for fixed maturities classified as AFS on the consolidated balance sheets excludes accrued interest receivable because the Company elected to present accrued interest receivable within other assets. Accrued interest receivable on AFS fixed maturities as of December 31, 2023 and 2022 was $528 million and $550 million, respectively. There was no accrued interest written off for AFS fixed maturities for the years ended December 31, 2023, 2022 and 2021. The following tables provide information relating to the Company’s fixed maturities classified as AFS: AFS Fixed Maturities by Classification Amortized Allowance for Credit Losses Gross Gross Fair Value (in millions) December 31, 2023 Fixed Maturities: Corporate (1) $ 42,014 $ 4 $ 217 $ 4,960 $ 37,267 U.S. Treasury, government and agency 5,639 — 2 1,102 4,539 States and political subdivisions 525 — 9 64 470 Foreign governments 689 — 2 110 581 Residential mortgage-backed (2) 1,469 — 3 128 1,344 Asset-backed (3) 8,092 — 20 107 8,005 Commercial mortgage-backed 3,400 — 1 501 2,900 Redeemable preferred stock 56 — 3 — 59 Total at December 31, 2023 $ 61,884 $ 4 $ 257 $ 6,972 $ 55,165 December 31, 2022: Fixed Maturities: Corporate (1) $ 46,053 $ 24 $ 89 $ 6,655 $ 39,463 U.S. Treasury, government and agency 7,049 — 1 1,312 5,738 States and political subdivisions 540 — 7 76 471 Foreign governments 985 — 2 151 836 Residential mortgage-backed (2) 860 — 1 84 777 Asset-backed (3) 8,817 — 3 371 8,449 Commercial mortgage-backed 3,742 — — 572 3,170 Redeemable preferred stock 41 — 2 — 43 Total at December 31, 2022 $ 68,087 $ 24 $ 105 $ 9,221 $ 58,947 ______________ (1) Corporate fixed maturities include both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types. The contractual maturities of AFS fixed maturities as of December 31, 2023 are shown in the table below. Bonds not due at a single maturity date have been included in the table in the final year of maturity. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Contractual Maturities of AFS Fixed Maturities Amortized Cost (Less Allowance for Credit Losses) Fair Value (in millions) December 31, 2023: Contractual maturities: Due in one year or less $ 1,075 $ 1,067 Due in years two through five 12,330 11,873 Due in years six through ten 12,868 11,890 Due after ten years 22,590 18,027 Subtotal 48,863 42,857 Residential mortgage-backed 1,469 1,344 Asset-backed 8,092 8,005 Commercial mortgage-backed 3,400 2,900 Redeemable preferred stock 56 59 Total at December 31, 2023 $ 61,880 $ 55,165 The following table shows proceeds from sales, gross gains (losses) from sales and allowance for credit losses for AFS fixed maturities: Proceeds from Sales, Gross Gains (Losses) from Sales and Allowance for Credit and Intent to Sell Losses for AFS Fixed Maturities Year Ended December 31, 2023 2022 2021 (in millions) Proceeds from sales $ 6,471 $ 11,683 $ 26,678 Gross gains on sales (1) $ 9 $ 38 $ 1,141 Gross losses on sales (2) $ (594) $ (668) $ (189) Net (increase) decrease in Allowance for Credit and Intent to Sell losses $ (67) $ (253) $ (16) ______________ (1) Includes $0 million for the year ended December 31, 2023 of gross gains related to funds withheld assets held by the Company in support of Equitable America’s reinsurance obligations to the Company. These realized gains are included in other investment gains (losses), net. (2) Includes $153 million for the year ended December 31, 2023, of gross losses related to funds withheld assets held by the Company in support of Equitable America’s reinsurance obligations to the Company. These realized losses are included in other investment gains (losses), net. The following table sets forth the amount of credit loss impairments on AFS fixed maturities held by the Company at the dates indicated and the corresponding changes in such amounts: AFS Fixed Maturities - Credit and Intent to Sell Loss Impairments Year Ended December 31, 2023 2022 2021 (in millions) Balance, beginning of year $ 36 $ 42 $ 28 Previously recognized impairments on securities that matured, paid, prepaid or sold (65) (261) (2) Recognized impairments on securities impaired to fair value this period (1) (2) 50 246 — Credit losses recognized this period on securities for which credit losses were not previously recognized 15 — 9 Additional credit losses this period on securities previously impaired 12 9 7 Balance, end of year $ 48 $ 36 $ 42 ______________ (1) Represents circumstances where the Company determined in the current period that it intends to sell the security, or it is more likely than not that it will be required to sell the security before recovery of the security’s amortized cost. (2) Amounts reflected for the year ended December 31, 2023 represent AFS fixed maturities in an unrealized loss position, which the Company sold in anticipation of the Company’s ordinary dividend to Holdings. Amounts reflected for the year ended December 31, 2022 represent an impairment on AFS Securities of $245 million related to the Global Atlantic Transaction. See Note 12 of the Notes to these Consolidated Financial Statements for additional details on the Global Atlantic Transaction. The tables below present a roll-forward of net unrealized investment gains (losses) recognized in AOCI: Net Unrealized Gains (Losses) on AFS Fixed Maturities Year Ended December 31, 2023 Net Unrealized Gains (Losses) on Investments DAC Policyholders’ Liabilities Deferred Income Tax Asset (Liability) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (in millions) Balance, beginning of year $ (9,116) $ — $ 21 $ 420 $ (8,675) Net investment gains (losses) arising during the period 1,753 — — — 1,753 Reclassification adjustment: Included in net income (loss) 652 — — — 652 Impact of net unrealized investment gains (losses) — — (8) 987 979 Net unrealized investment gains (losses) excluding credit losses (6,711) — 13 1,407 (5,291) Net unrealized investment gains (losses) with credit losses (4) — — 1 (3) Balance, end of year $ (6,715) $ — $ 13 $ 1,408 $ (5,294) Year Ended December 31, 2022 Balance, beginning of year $ 4,462 $ — $ (703) $ (790) $ 2,969 Net investment gains (losses) arising during the period (14,456) — — — (14,456) Reclassification adjustment: Included in net income (loss) 885 — — — 885 Other (1) — — — (1,489) (1,489) Impact of net unrealized investment gains (losses) — — 724 2,698 3,422 Net unrealized investment gains (losses) excluding credit losses (9,109) — 21 419 (8,669) Net unrealized investment gains (losses) with credit losses (7) — — 1 (6) Balance, end of year $ (9,116) $ — $ 21 $ 420 $ (8,675) Year Ended December 31, 2021 Balance, beginning of year $ 8,230 $ (466) $ (1,814) $ (1,250) $ 4,700 Transition adjustment (2) — 466 426 — 892 Net investment gains (losses) arising during the period (2,902) — — — (2,902) Reclassification adjustment: Included in Net income (loss) (835) — — — (835) Other (3) (31) — — — (31) Impact of net unrealized investment gains (losses) — — 686 460 1,146 Net unrealized investment gains (losses) excluding credit losses 4,462 — (702) (790) 2,970 Net unrealized investment gains (losses) with credit losses — — (1) — (1) Balance, end of year $ 4,462 $ — $ (703) $ (790) $ 2,969 ______________ (1) Reflects a Deferred Tax Asset valuation allowance of $1.5 billion recorded during the fourth quarter of 2022. See Note 16 of the Notes to these Consolidated Financial Statements for additional details. (2) Reflects transition adjustment of DAC and Policyholder Liabilities under the adoption of ASU 2018-12 effective January 1, 2021. (3) Effective January 1, 2021, certain preferred stock have been reclassified to other equity investments The following tables disclose the fair values and gross unrealized losses of the 3,986 issues as of December 31, 2023 and the 4,798 issues as of December 31, 2022 that are not deemed to have credit losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the specified periods at the dates indicated: AFS Fixed Maturities in an Unrealized Loss Position for Which No Allowance Is Recorded Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) December 31, 2023 Fixed Maturities: Corporate $ 1,693 $ 119 $ 29,617 $ 4,839 $ 31,310 $ 4,958 U.S. Treasury, government and agency 111 2 4,361 1,100 4,472 1,102 States and political subdivisions 10 — 244 64 254 64 Foreign governments 8 1 514 109 522 110 Residential mortgage-backed 74 1 1,030 127 1,104 128 Asset-backed 238 — 5,499 107 5,737 107 Commercial mortgage-backed 62 11 2,796 490 2,858 501 Total at December 31, 2023 $ 2,196 $ 134 $ 44,061 $ 6,836 $ 46,257 $ 6,970 December 31, 2022: Fixed Maturities: Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) Corporate $ 22,034 $ 2,431 $ 15,014 $ 4,222 $ 37,048 $ 6,653 U.S. Treasury, government and agency 5,465 1,294 204 18 5,669 1,312 States and political subdivisions 91 18 158 58 249 76 Foreign governments 349 42 418 109 767 151 Residential mortgage-backed 665 49 79 35 744 84 Asset-backed 6,262 228 1,759 143 8,021 371 Commercial mortgage-backed 1,572 200 1,580 372 3,152 572 Total at December 31, 2022 $ 36,438 $ 4,262 $ 19,212 $ 4,957 $ 55,650 $ 9,219 The Company maintains a diversified portfolio of corporate securities across industries and issuers and does not have exposure to any single issuer in excess of 1.0% of total corporate securities. The largest exposures to a single issuer of corporate securities held as of December 31, 2023 and 2022 were $360 million and $327 million, respectively, representing 21.9% and 30.4% of the total consolidated equity of the Company. Corporate high yield securities, consisting primarily of public high yield bonds, are classified as other than investment grade by the various rating agencies, i.e., a rating below Baa3/BBB- or the NAIC designation of 3 (medium investment grade), 4 or 5 (below investment grade) or 6 (in or near default). As of December 31, 2023 and 2022, respectively, approximately $2.5 billion and $2.9 billion, or 4.1% and 4.3%, of the $61.9 billion and $68.1 billion aggregate amortized cost of fixed maturities held by the Company were considered to be other than investment grade. These securities had gross unrealized losses of $102 million and $208 million as of December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, respectively, the $6.8 billion and $5.0 billion of gross unrealized losses of twelve months or more were primarily concentrated in corporate securities. In accordance with the policy described in Note 2 of t he Notes to these Consolidated Financial Statements, the Company concluded that an adjustment to the allowance for credit losses for these securities was not warranted at either December 31, 2023 or December 31, 2022. As of December 31, 2023 and 2022, the Company did not intend to sell the securities nor will it likely be required to dispose of the securities before the anticipated recovery of their remaining amortized cost basis. Based on the Company’s evaluation both qualitatively and quantitatively of the drivers of the decline in fair value of fixed maturity securities as of December 31, 2023, the Company determined that the unrealized loss was primarily due to increases in interest rates and credit spreads. Securities Lending Beginning in 2023, the Company has entered into securities lending agreements with an agent bank whereby blocks of securities are loaned to third parties, primarily major brokerage firms. As of December 31, 2023, the estimated fair value of loaned securities was $91 million. The agreements require a minimum of 102% of the fair value of the loaned securities to be held as cash collateral, calculated daily. To further minimize the credit risks related to these programs, the financial condition of counterparties is monitored on a regular basis. As of December 31, 2023, cash collateral received in the amount of $93 million was invested by the agent bank. A securities lending payable for the overnight and continuous loans is included in other liabilities in the amount of cash collateral received. Securities lending transactions are used to generate income. Income and expenses associated with these transactions are reported as net investment income and were not material for the year ended December 31, 2023. Mortgage Loans on Real Estate In September 2023, the Company began investing in residential mortgage loans. Accrued interest receivable on commercial, agricultural and residential mortgage loans as of December 31, 2023 and 2022 was $81 million and $71 million, respectively. There was no accrued interest written off for commercial, agricultural and residential mortgage loans for the years ended December 31, 2023 and 2022. As of December 31, 2023, the Company had one Commercial Mortgage Loan for which foreclosure was probable. That loan has an amortized cost of $108 million and an associated allowance of $54 million. Allowance for Credit Losses on Mortgage Loans The change in the allowance for credit losses for commercial, agricultural and residential mortgage loans were as follows: Year Ended December 31, 2023 2022 2021 (in millions) Allowance for credit losses on mortgage loans: Commercial mortgages: Balance, beginning of year $ 123 $ 57 $ 77 Current-period provision for expected credit losses 147 66 (20) Write-offs charged against the allowance — — — Recoveries of amounts previously written off — — — Net change in allowance 147 66 (20) Balance, end of year $ 270 $ 123 $ 57 Agricultural mortgages: Balance, beginning of year $ 6 $ 5 $ 4 Current-period provision for expected credit losses — 1 1 Write-offs charged against the allowance — — — Recoveries of amounts previously written off — — — Net change in allowance — 1 1 Balance, end of year $ 6 $ 6 $ 5 Residential mortgages: Balance, beginning of year $ — $ — $ — Current-period provision for expected credit losses 1 — — Write-offs charged against the allowance — — — Recoveries of amounts previously written off — — — Net change in allowance 1 — — Balance, end of year $ 1 $ — $ — Total allowance for credit losses $ 277 $ 129 $ 62 The change in the allowance for credit losses is attributable to: • increases/decreases in the loan balance due to new originations, maturing mortgages, and loan amortization and • changes in credit quality and economic assumptions. Credit Quality Information The Company’s commercial and agricultural mortgage loans segregated by risk rating exposure were as follows: Loan to Value (“LTV”) Ratios (1) (3) December 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Commercial and agricultural mortgage loans: Commercial: 0% - 50% $ 191 $ 164 $ 129 $ 35 $ — $ 1,540 $ — $ — $ 2,059 50% - 70% 703 1,916 671 750 299 2,319 463 96 7,217 70% - 90% 308 1,197 1,236 523 245 1,384 37 35 4,965 90% plus — — 66 54 92 858 — — 1,070 Total commercial $ 1,202 $ 3,277 $ 2,102 $ 1,362 $ 636 $ 6,101 $ 500 $ 131 $ 15,311 Agricultural: 0% - 50% $ 102 $ 162 $ 191 $ 235 $ 132 $ 802 $ — $ — $ 1,624 50% - 70% 60 146 152 201 58 288 — — 905 70% - 90% — — — — — 16 — — 16 90% plus — — — — — — — — — Total agricultural $ 162 $ 308 $ 343 $ 436 $ 190 $ 1,106 $ — $ — $ 2,545 Total commercial and agricultural mortgage loans: 0% - 50% $ 293 $ 326 $ 320 $ 270 $ 132 $ 2,342 $ — $ — $ 3,683 50% - 70% 763 2,062 823 951 357 2,607 463 96 8,122 70% - 90% 308 1,197 1,236 523 245 1,400 37 35 4,981 90% plus — — 66 54 92 858 — — 1,070 Total commercial and agricultural mortgage loans $ 1,364 $ 3,585 $ 2,445 $ 1,798 $ 826 $ 7,207 $ 500 $ 131 $ 17,856 Debt Service Coverage (“DSC”) Ratios (2) (3) December 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Commercial and agricultural mortgage loans: Commercial: Greater than 2.0x $ 175 $ 693 $ 1,125 $ 1,135 $ 249 $ 3,256 $ — $ — $ 6,633 1.8x to 2.0x — — 182 167 171 662 383 96 1,661 December 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) 1.5x to 1.8x 80 1,060 234 — 162 924 — — 2,460 1.2x to 1.5x 469 687 457 — 11 838 41 — 2,503 1.0x to 1.2x 470 668 38 — 43 317 76 35 1,647 Less than 1.0x 8 169 66 60 — 104 — — 407 Total commercial $ 1,202 $ 3,277 $ 2,102 $ 1,362 $ 636 $ 6,101 $ 500 $ 131 $ 15,311 Agricultural: Greater than 2.0x $ 7 $ 50 $ 36 $ 59 $ 20 $ 179 $ — $ — $ 351 1.8x to 2.0x 18 16 56 33 23 61 — — 207 1.5x to 1.8x 12 50 31 109 17 193 — — 412 1.2x to 1.5x 46 111 148 170 98 365 — — 938 1.0x to 1.2x 47 57 68 57 26 284 — — 539 Less than 1.0x 32 24 4 8 6 24 — — 98 Total agricultural $ 162 $ 308 $ 343 $ 436 $ 190 $ 1,106 $ — $ — $ 2,545 Total commercial and agricultural mortgage loans: Greater than 2.0x $ 182 $ 743 $ 1,161 $ 1,194 $ 269 $ 3,435 $ — $ — $ 6,984 1.8x to 2.0x 18 16 238 200 194 723 383 96 1,868 1.5x to 1.8x 92 1,110 265 109 179 1,117 — — 2,872 1.2x to 1.5x 515 798 605 170 109 1,203 41 — 3,441 1.0x to 1.2x 517 725 106 57 69 601 76 35 2,186 Less than 1.0x 40 193 70 68 6 128 — — 505 Total commercial and agricultural mortgage loans $ 1,364 $ 3,585 $ 2,445 $ 1,798 $ 826 $ 7,207 $ 500 $ 131 $ 17,856 _____________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. (3) Residential mortgage loans are excluded from the above tables. LTV Ratios (1) (3) December 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Commercial and agricultural mortgage loans: Commercial: 0% - 50% $ 624 $ 130 $ — $ — $ 119 $ 1,242 $ — $ — $ 2,115 50% - 70% 2,285 1,569 906 313 623 2,254 328 — 8,278 70% - 90% 363 415 463 329 424 1,314 — 34 3,342 90% plus — — — — 35 233 — — 268 Total commercial $ 3,272 $ 2,114 $ 1,369 $ 642 $ 1,201 $ 5,043 $ 328 $ 34 $ 14,003 Agricultural: 0% - 50% $ 163 $ 182 $ 228 $ 129 $ 132 $ 725 $ — $ — $ 1,559 50% - 70% 190 185 222 68 83 267 — — 1,015 70% - 90% — — — — — 16 — — 16 90% plus — — — — — — — — — Total agricultural $ 353 $ 367 $ 450 $ 197 $ 215 $ 1,008 $ — $ — $ 2,590 Total commercial and agricultural mortgage loans: 0% - 50% $ 787 $ 312 $ 228 $ 129 $ 251 $ 1,967 $ — $ — $ 3,674 50% - 70% 2,475 1,754 1,128 381 706 2,521 328 — 9,293 70% - 90% 363 415 463 329 424 1,330 — 34 3,358 90% plus — — — — 35 233 — — 268 Total commercial and agricultural mortgage loans $ 3,625 $ 2,481 $ 1,819 $ 839 $ 1,416 $ 6,051 $ 328 $ 34 $ 16,593 DSC Ratios (2) (3) December 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Commercial and agricultural mortgage loans: Commercial: Greater than 2.0x $ 771 $ 1,159 $ 1,113 $ 102 $ 571 $ 1,911 $ — $ — $ 5,627 1.8x to 2.0x 158 215 164 197 186 477 279 — 1,676 1.5x to 1.8x 337 390 32 153 176 1,175 4 — 2,267 December 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) 1.2x to 1.5x 1,041 259 — 92 73 917 — — 2,382 1.0x to 1.2x 507 43 60 98 160 492 45 34 1,439 Less than 1.0x 458 48 — — 35 71 — — 612 Total commercial $ 3,272 $ 2,114 $ 1,369 $ 642 $ 1,201 $ 5,043 $ 328 $ 34 $ 14,003 Agricultural: Greater than 2.0x $ 51 $ 40 $ 62 $ 21 $ 12 $ 193 $ — $ — $ 379 1.8x to 2.0x 16 58 35 24 14 51 — — 198 1.5x to 1.8x 69 42 111 18 19 196 — — 455 1.2x to 1.5x 107 147 177 98 99 298 — — 926 1.0x to 1.2x 91 80 61 30 60 257 — — 579 Less than 1.0x 19 — 4 6 11 13 — — 53 Total agricultural $ 353 $ 367 $ 450 $ 197 $ 215 $ 1,008 $ — $ — $ 2,590 Total commercial and agricultural mortgage loans: Greater than 2.0x $ 822 $ 1,199 $ 1,175 $ 123 $ 583 $ 2,104 $ — $ — $ 6,006 1.8x to 2.0x 174 273 199 221 200 528 279 — 1,874 1.5x to 1.8x 406 432 143 171 195 1,371 4 — 2,722 1.2x to 1.5x 1,148 406 177 190 172 1,215 — — 3,308 1.0x to 1.2x 598 123 121 128 220 749 45 34 2,018 Less than 1.0x 477 48 4 6 46 84 — — 665 Total commercial and agricultural mortgage loans $ 3,625 $ 2,481 $ 1,819 $ 839 $ 1,416 $ 6,051 $ 328 $ 34 $ 16,593 _____________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. (3) Residential mortgage loans are excluded from the above tables. The amortized cost of residential mortgage loans by credit quality indicator and origination year was as follows: December 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Total (in millions) Performance indicators: (1) Performing $ 98 $ 121 $ 74 $ 2 $ 1 $ 2 $ 298 Nonperforming — — — — — — — Total $ 98 $ 121 $ 74 $ 2 $ 1 $ 2 $ 298 (1) The Company began investing in residential mortgages in 2023. Therefore, 2022 comparative information is not applicable. Past-Due and Nonaccrual Mortgage Loan Status The aging analysis of past-due mortgage loans were as follows: Age Analysis of Past Due Mortgage Loans (1) Accruing Loans Non-accruing Loans Total Loans Non-accruing Loans with No Allowance Interest Income on Non-accruing Loans Past Due Current Total 30-59 Days 60-89 Days 90 Total (in millions) December 31, 2023: Mortgage loans: Commercial $ 32 $ — $ — $ 32 $ 15,045 $ 15,077 $ 234 $ 15,311 $ — $ 7 Agricultural 7 5 40 52 2,474 2,526 19 2,545 — — Residential — — — — 298 298 — 298 — — Total $ 39 $ 5 $ 40 $ 84 $ 17,817 $ 17,901 $ 253 $ 18,154 $ — $ 7 December 31, 2022: Mortgage loans: Commercial $ 56 $ — $ — $ 56 $ 13,947 $ 14,003 $ — $ 14,003 $ — $ — Agricultural 3 5 13 21 2,553 2,574 16 2,590 — — Residential — — — — — — — — — — Total $ 59 $ 5 $ 13 $ 77 $ 16,500 $ 16,577 $ 16 $ 16,593 $ — $ — _______________ (1) Amounts presented at amortized cost basis. Troubled Debt Restructuring During 2023, the Company granted modification of interest rates on four commercial mortgage loans, but not to market terms and required management of excess cash. The loans have an amortized cost of $234 million which represents 1.5% of total commercial mortgage loans. Two of the four loans also have term extensions of 17 months to 4 years. The impact to Investment income or gains (losses) as a result of these modifications in 2023 was not material to the financial statements. For the accounting policy pertaining to our TDRs see Note 2 of the Notes to these Consolidated Financial Statements. During the years ended December 31, 2022 and 2021 the Company identified an immaterial amount of TDRs. Equity Securities The breakdown of unrealized and realized gains and (losses) on equity securities was as follows: Unrealized and Realized Gains (Losses) from Equity Securities Year Ended December 31, 2023 2022 2021 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ 31 $ (109) $ 9 Net investment gains (losses) recognized on securities sold during the period (8) (36) (2) Unrealized and realized gains (losses) on equity securities $ 23 $ (145) $ 7 Trading Securities As of December 31, 2023 and 2022, respectively, the fair value of the Company’s trading securities was $257 million and $283 million. As of December 31, 2023 and 2022, respectively, trading securities included the General Account’s investment in Separate Accounts had carrying values of $48 million and $38 million. The breakdown of net investment income (loss) from trading securities was as follows: Net Investment Income (Loss) from Trading Securities Year Ended December 31, 2023 2022 2021 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ 19 $ (35) $ (264) Net investment gains (losses) recognized on securities sold during the period (5) (6) 206 Unrealized and realized gains (losses) on trading securities 14 (41) (58) Interest and dividend income from trading securities 12 13 92 Net investment income (loss) from trading securities $ 26 $ (28) $ 34 Net Investment Income (Loss) The following table breaks out net investment income (loss) by asset category: Year Ended December 31, 2023 Excluding (1) Funds Total (in millions) Fixed maturities $ 1,936 $ 828 $ 2,764 Mortgage loans on real estate 542 261 803 Other equity investments 125 (21) 104 Policy loans 199 — 199 Trading securities 26 — 26 Other investment income 8 22 30 Gross investment income (loss) 2,836 1,090 3,926 Investment expenses (229) (96) (325) Net investment income (loss) $ 2,607 $ 994 $ 3,601 Year Ended December 31, 2022 Excluding (1) Funds Total (in millions) Fixed maturities $ 2,478 $ — $ 2,478 Mortgage loans on real estate 586 — 586 Other equity investments 74 — 74 Policy loans 203 — 203 Trading securities (28) — (28) Other investment income 57 — 57 Gross investment income (loss) 3,370 — 3,370 Investment expenses (293) — (293) Net investment income (loss) $ 3,077 $ — $ 3,077 Year Ended December 31, 2021 Excluding (1) Funds Total (in millions) Fixed maturities $ 2,293 $ — $ 2,293 Mortgage loans on real estate 547 — 547 Other equity investments 525 — 525 Policy loans 209 — 209 Trading securities 34 — 34 Other investment income 47 — 47 Gross investment income (loss) 3,655 — 3,655 Investment expenses (172) — (172) Net investment income (loss) $ 3,483 $ — $ 3,483 ______________ (1) “NI Modco” represents modco arrangement on non-insulated Separate Accounts as part of the Reinsurance Treaty with Equitable America. Investment Gains (Losses), Net Investment gains (losses), net including changes in the valuation allowances and credit losses are as follows: Year Ended December 31, 2023 Excluding (1) Funds Total (in millions) Fixed maturities $ (497) $ (155) $ (652) Mortgage loans on real estate (59) (90) (149) Other equity investments (1) — — — Other 1 — 1 Investment gains (losses), net $ (555) $ (245) $ (800) Year Ended December 31, 2022 Excluding (1) Funds Total (in millions) Fixed maturities $ (885) $ — $ (885) Mortgage loans on real estate (66) — (66) Other equity investments — — — Other (11) — (11) Investment gains (losses), net $ (962) $ — $ (962) Year Ended December 31, 2021 Excluding (1) Funds Total (in millions) Fixed maturities $ 834 $ — $ 834 Mortgage loans on real estate 20 — 20 Other equity investments — — — Other (1) — (1) Investment gains (losses), net $ 853 $ — $ 853 _____________ (1) “NI Modco” represents modco arrangement on non-insulated Separate Accounts as part of the Reinsurance Treaty with Equitable America. For the years ended December 31, 2023, 2022 and 2021, respectively, investment results passed through to certain participating group annuity contracts as interest credited to policyholders’ account balances totaled $1 million, $1 million and $2 million.

DERIVATIVES

DERIVATIVES	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES The Company uses derivatives as part of its overall asset/liability risk management primarily to reduce exposures to equity market and interest rate risks. Derivative hedging strategies are designed to reduce these risks from an economic perspective and are all executed within the framework of a “Derivative Use Plan” approved by applicable states’ insurance law. Derivatives are generally not accounted for using hedge accounting, with the exception of TIPS and cash flow hedges, which are discussed further below. Operation of these hedging programs is based on models involving numerous estimates and assumptions, including, among others, mortality, lapse, surrender and withdrawal rates, election rates, fund performance, market volatility and interest rates. A wide range of derivative contracts are used in these hedging programs, including exchange traded equity, currency and interest rate futures contracts, total return and/or other equity swaps, interest rate swap and floor contracts, bond and bond-index total return swaps, swaptions, variance swaps and equity options, credit and foreign exchange derivatives, as well as bond and repo transactions to support the hedging. The derivative contracts are collectively managed in an effort to reduce the economic impact of unfavorable changes in guaranteed benefits’ exposures attributable to movements in capital markets. In addition, as part of its hedging strategy, the Company targets an asset level for all variable annuity products at or above a CTE98 level under most economic scenarios (CTE is a statistical measure of tail risk which quantifies the total asset requirement to sustain a loss if an event outside a given probability level has occurred. CTE98 denotes the financial resources a company would need to cover the average of the worst 2% of scenarios.) Derivatives Utilized to Hedge Exposure to Variable Annuities with Guarantee Features The Company has issued and continues to offer variable annuity products with GMxB features which are accounted for as market risk benefits. The risk associated with the GMDB feature is that under-performance of the financial markets could result in GMDB benefits, in the event of death, being higher than what accumulated policyholders’ account balances would support. The risk associated with the GMIB feature is that under-performance of the financial markets could result in the present value of GMIB, in the event of annuitization, being higher than what accumulated policyholders’ account balances would support, taking into account the relationship between current annuity purchase rates and the GMIB guaranteed annuity purchase rates. The risk associated with products that have a GMxB feature and are accounted for as market risk benefits is that under-performance of the financial markets could result in the GMxB features benefits being higher than what accumulated policyholders’ account balances would support. For GMxB features, the Company retains certain risks including basis, credit spread and some volatility risk and risk associated with actual experience versus expected actuarial assumptions for mortality, lapse and surrender, withdrawal and policyholder election rates, among other things. The derivative contracts are managed to correlate with changes in the value of the GMxB features that result from financial markets movements. A portion of exposure to realized equity volatility is hedged using equity options and variance swaps and a portion of exposure to credit risk is hedged using total return swaps on fixed income indices. Additionally, the Company is party to total return swaps for which the reference U.S. Treasury securities are contemporaneously purchased from the market and sold to the swap counterparty. As these transactions result in a transfer of control of the U.S. Treasury securities to the swap counterparty, the Company derecognizes these securities with consequent gain or loss from the sale. The Company has also purchased reinsurance contracts to mitigate the risks associated with GMDB features and the impact of potential market fluctuations on future policyholder elections of GMIB features contained in certain annuity contracts issued by the Company. The reinsurance of these features is accounted for as purchased market risk benefits. In addition, on June 1, 2021, we ceded legacy variable annuity policies sold by Equitable Financial between 2006-2008 (the “Block”), comprised of non-New York “Accumulator” policies containing fixed rate GMIB and/or GMDB guarantees to CS Life. As this contract provides full risk transfer and thus has the same risk attributes as the underlying direct contracts, the benefits of this treaty are accounted for in the same manner as the underlying gross reserves and therefore the amounts due from reinsurers related to the GMIB with NLG are accounted for as purchased market risk benefits. The Company has in place an economic hedge program using U.S. Treasury futures to partially protect the overall profitability of future variable annuity sales against declining interest rates. Derivatives Utilized to Hedge Crediting Rate Exposure on SCS, SIO, MSO and IUL Products/Investment Options The Company hedges crediting rates in the SCS variable annuity, SIO in the EQUI-VEST variable annuity series, MSO in the variable life insurance products and IUL insurance products. These products permit the contract owner to participate in the performance of an index, ETF or commodity price movement up to a cap for a set period of time. They also contain a protection feature, in which the Company will absorb, up to a certain percentage, the loss of value in an index, ETF or commodity price, which varies by product segment. In order to support the returns associated with these features, the Company enters into derivative contracts whose payouts, in combination with fixed income investments, emulate those of the index, ETF or commodity price, subject to caps and buffers, thereby substantially reducing any exposure to market-related earnings volatility. Derivatives Used to Hedge Equity Market Risks Associated with the General Account’s Seed Money Investments in Retail Mutual Funds The Company’s General Account seed money investments in retail mutual funds expose us to market risk, including equity market risk which is partially hedged through equity-index futures contracts to minimize such risk. Derivatives Used for General Account Investment Portfolio The Company purchased CDS to mitigate its exposure to a reference entity through cash positions. These positions do not replicate credit spreads. The Company purchased 30-year TIPS and other sovereign bonds, both inflation-linked and non-inflation linked, as General Account investments and enters into asset or cross-currency basis swaps, to result in payment of the given bond’s coupons and principal at maturity in the bond’s specified currency to the swap counterparty in return for fixed dollar amounts. These swaps, when considered in combination with the bonds, together result in a net position that is intended to replicate a dollar-denominated fixed-coupon cash bond with a yield higher than a term-equivalent U.S. Treasury bond. Derivatives Utilized to Hedge Exposure to Foreign Currency Denominated Cash Flows The Company purchases private placement debt securities and issues funding agreements in the FABN program in currencies other than its functional U.S. dollar currency. The Company enters into cross currency swaps with external counterparties to hedge the exposure of the foreign currency denominated cash flows of these instruments. The foreign currency received from or paid to the cross currency swap counterparty is exchanged for fixed U.S. dollar amounts with improved net investment yields or net product costs over equivalent U.S. dollar denominated instruments issued at that time. The transactions are accounted for as cash flow hedges when they are designated in hedging relationships and qualify for hedge accounting. These cross currency swaps are for the period the foreign currency denominated private placement debt securities and funding agreement are outstanding, with the longest cross currency swap expiring in 2033. Since these cross currency swaps are designated and qualify as cash flow hedges, the corresponding interest accruals are recognized in net investment income and in interest credited to policyholders’ account balances. The tables below present quantitative disclosures about the Company’s derivative instruments designated in hedging relationships and derivative instruments which have not been designated in hedging relationships, including those embedded in other contracts required to be accounted for as derivative instruments. The following table presents the gross notional amount and fair value of the Company’s derivatives: Derivative Instruments by Category December 31, 2023 Fair Value Notional Amount Notional Amount- FWH and NI Modco Derivative Assets Derivative Assets - FWH and NI Modco Derivative Liabilities Derivative Liabilities - FWH and NI Modco Net Derivatives (in millions) Derivatives: designated for hedge accounting (1) Cash flow hedges: Currency swaps $ 2,358 $ — $ 79 $ — $ 90 $ — $ (11) Interest swaps 952 — — — 311 — (311) Total: designated for hedge accounting 3,310 — 79 — 401 — (322) Derivatives: not designated for hedge accounting (1) Equity contracts: Futures 2,055 3,429 — — — — — Swaps 1,996 12,930 7 45 — — 52 Options 7,445 41,501 2,169 9,675 524 2,203 9,117 Interest rate contracts: Futures 1,000 6,572 — — — — — Swaps 495 2,381 34 83 1 1 115 Credit contracts: Credit default swaps 103 — — — 2 — (2) Currency contracts: Currency swaps 823 — — — 27 — (27) Other freestanding contracts: Margin — — 96 231 — — 327 Collateral — — 75 — 8,276 — (8,201) December 31, 2023 Fair Value Notional Amount Notional Amount- FWH and NI Modco Derivative Assets Derivative Assets - FWH and NI Modco Derivative Liabilities Derivative Liabilities - FWH and NI Modco Net Derivatives (in millions) Total: Not designated for hedge accounting 13,917 66,813 2,381 10,034 8,830 2,204 1,381 Embedded derivatives: SCS, SIO, MSO and IUL indexed features (2) (5) — — 7,140 — 9,081 — (1,941) Funds withheld payable (3) — — — — 100 — (100) Modco payable (4) — — (411) — — — (411) Total embedded derivatives — — 6,729 — 9,181 — (2,452) Total derivative instruments $ 17,227 $ 66,813 $ 9,189 $ 10,034 $ 18,412 $ 2,204 $ (1,393) ______________ (1) Reported in other invested assets in the consolidated balance sheets. (2) Reported in policyholders’ account balances in the consolidated balance sheets. (3) Reported in funds withheld payable in the consolidated balance sheets. (4) Recorded in amounts due from reinsurers in the consolidated balance sheets. (5) SCS embedded derivative asset is recorded as a modco receivable. This is presented net in the consolidated balance sheets. December 31, 2022 Fair Value Notional Amount Notional Amount - FWH and NI Modco Derivative Assets Derivative Assets - FWH and NI Modco Derivative Liabilities Derivative Liabilities - FWH and NI Modco Net Derivatives (in millions) Derivatives: designated for hedge accounting (1) Cash flow hedges: Currency swaps $ 1,431 $ — $ 99 $ — $ 85 $ — $ 14 Interest swaps 955 — — — 294 — (294) Total: designated for hedge accounting 2,386 — 99 — 379 — (280) Derivatives: not designated for hedge accounting (1) Equity contracts: Futures 4,320 — — — — — — Swaps 11,159 — 38 — — — 38 Options 39,863 — 7,549 — 3,396 — 4,153 Interest rate contracts: Futures 12,693 — — — — — — Swaps 1,498 — — — 166 — (166) Credit contracts: Credit default swaps 102 — — — 2 — (2) Currency contracts: Currency swaps 397 — 4 — 13 — (9) Other freestanding contracts: Margin — — 193 — — — 193 Collateral — — 142 — 4,469 — (4,327) Total: Not designated for hedge accounting 70,032 — 7,926 — 8,046 — (120) Embedded derivatives: SCS, SIO, MSO and IUL indexed features (2) — — — — 4,077 — (4,077) Funds withheld payable — — — — — — — Modco payable — — — — — — — Total embedded derivatives — — — — 4,077 — (4,077) Total derivative instruments $ 72,418 $ — $ 8,025 $ — $ 12,502 $ — $ (4,477) ______________ (1) Reported in other invested assets in the consolidated balance sheets. (2) Reported in policyholders’ account balances in the consolidated balance sheets. The following table presents the effects of derivative instruments on the consolidated statements of income and comprehensive income (loss): Year Ended December 31, 2023 Year Ended December 31, 2022 Net Net-FWH and NI modco Net Interest AOCI Net Net-FWH and NI modco Net Interest AOCI (in millions) Derivatives: designated for hedge accounting Cash flow hedges: Currency swaps $ (4) $ — $ 13 $ (23) $ (12) $ 19 $ — $ 7 $ (4) $ 24 Interest swaps (18) — 58 — (40) (86) — — — 206 Total: designated for hedge accounting (22) — 71 (23) (52) (67) — 7 (4) 230 Derivatives: not designated for hedge accounting Equity contracts: Futures (32) (266) — — — 349 — — — — Swaps (797) (1,187) — — — 2,626 — — — — Options 2,117 3,321 — — — (2,752) — — — — Interest rate contracts: Futures (9) 56 — — — (1,645) — — — — Swaps (8) 20 — — — (492) — — — — Swaptions — — — — — — — — — — Credit contracts: Credit default swaps (1) — — — — 8 — — — — Currency contracts: Currency swaps (23) — — — — 10 — — — — Currency forwards — — — — — — — — — — Other contracts: Margin — — — — — — — — — — Collateral — — — — — — — — — — Total: not designated for hedge accounting 1,247 1,944 — — — (1,896) — — — — Year Ended December 31, 2023 Year Ended December 31, 2022 Net Net-FWH and NI modco Net Interest AOCI Net Net-FWH and NI modco Net Interest AOCI (in millions) Embedded derivatives: SCS, SIO, MSO and IUL indexed features (2,357) — — — — 2,857 — — — — Funds withheld payable 858 — — — — — — — — — Modco payable (4,067) — — — — — — — — — Total embedded derivatives (5,566) — — — — 2,857 — — — — Total derivatives $ (4,341) $ 1,944 $ 71 $ (23) $ (52) $ 894 $ — $ 7 $ (4) $ 230 Year Ended December 31, 2021 Net Net - FWH and NI Modco Net Interest AOCI (in millions) Derivatives: designated for hedge accounting Cash flow hedges: Currency swaps $ (2) $ — $ — $ (45) $ 5 Interest swaps (69) — — — (87) Total: designated for hedge accounting (71) — — (45) (82) Derivatives: not designated for hedge accounting Equity contracts: Futures (607) — — — — Swaps (3,608) — — — — Options 3,883 — — — — Interest rate contracts: Futures (727) — — — — Swaps (2,316) — — — — Swaptions — — — — — Credit contracts: Credit default swaps 1 — — — — Currency contracts: Currency swaps 3 — — — — Currency forwards — — — — — Other contracts: Margin — — — — — Collateral — — — — — Total: not designated for hedge accounting (3,371) — — — — Embedded derivatives: SCS, SIO, MSO and IUL indexed features (3,760) — — — — Funds withheld payable — — — — — Modco payable — — — — — Total embedded derivatives (3,760) — — — — Total derivatives $ (7,202) $ — $ — $ (45) $ (82) _____________ (1) Reported in net derivative gains (losses) in the consolidated statements of income (loss). (2) For the years ended December 31, 2023, 2022 and 2021, investment fees of $18 million, $16 million and $15 million , respectively, are reported in net derivative gains (losses) in the consolidated statements of income (loss). The following table presents a roll-forward of cash flow hedges recognized in AOCI: Roll-forward of Cash flow hedges in AOCI Year Ended December 31, 2023 2022 2021 (in millions) Balance, beginning of year $ 22 $ (208) $ (126) Amount recorded in AOCI Currency swaps (23) 29 (35) Interest swaps (17) 102 (183) Total amount recorded in AOCI (40) 131 (218) Amount reclassified (to) from income to AOCI Currency swaps (1) 11 (5) 40 Interest swaps (1) (22) 104 96 Total amount reclassified (to) from income to AOCI (11) 99 136 Balance, end of period (2) $ (29) $ 22 $ (208) ______________ (1) Currency swaps income is reported in net investment income in the consolidated statements of income (loss). Interest swaps income is reported in net derivative gains (losses) in the consolidated statements of income (loss). (2) The Company does not estimate the amount of the deferred losses in AOCI at years ended December 31, 2023, 2022 and 2021 which will be released and reclassified into net income (loss) over the next 12 months as the amounts cannot be reasonably estimated. Equity-Based and Treasury Futures Contracts Margin All outstanding equity-based and treasury futures contracts as of December 31, 2023 and 2022 are exchange-traded and net settled daily in cash. As of December 31, 2023 and 2022, respectively, the Company had open exchange-traded futures positions on: (i) the S&P 500, Nasdaq, Russell 2000 and Emerging Market indices, having initial margin requirements of $248 million and $222 million, (ii) the 2-year, 5-year and 10-year U.S. Treasury Notes on U.S. Treasury bonds and ultra-long bonds, having initial margin requirements of $100 million and $103 million, and (iii) the Euro Stoxx, FTSE 100, Topix, ASX 200 and EAFE indices as well as corresponding currency futures on the Euro/U.S. dollar, Pound/U.S. dollar, Australian dollar/U.S. dollar, and Yen/U.S. dollar, having initial margin requirements of $14 million and $16 million. Collateral Arrangements The Company generally has executed a CSA under the ISDA Master Agreement it maintains with each of its OTC derivative counterparties that requires both posting and accepting collateral either in the form of cash or high-quality securities, such as U.S. Treasury securities, U.S. government and government agency securities and investment grade corporate bonds. The Company nets the fair value of all derivative financial instruments with counterparties for which an ISDA Master Agreement and related CSA have been executed. As of December 31, 2023 and 2022, respectively, the Company held $8.3 billion and $4.5 billion in cash and securities collateral delivered by trade counterparties, representing the fair value of the related derivative agreements. The unrestricted cash collateral is reported in other invested assets. The Company posted collateral of $75 million and $142 million as of December 31, 2023 and 2022, respectively, in the normal operation of its collateral arrangements. The Company is exposed to losses in the event of non-performance by counterparties to financial derivative transactions with a positive fair value. The Company manages credit risk by: (i) entering into derivative transactions with highly rated major international financial institutions and other creditworthy counterparties governed by master netting agreements, as applicable; (ii) trading through central clearing and OTC parties; (iii) obtaining collateral, such as cash and securities, when appropriate; and (iv) setting limits on single party credit exposures which are subject to periodic management review. Substantially all of the Company’s derivative agreements have zero thresholds which require daily full collateralization by the party in a liability position. In addition, certain of the Company’s derivative agreements contain credit-risk related contingent features; if the credit rating of one of the parties to the derivative agreement is to fall below a certain level, the party with positive fair value could request termination at the then fair value or demand immediate full collateralization from the party whose credit rating fell and is in a net liability position. As of December 31, 2023 and 2022 there were no net liability derivative positions with counterparties with credit risk-related contingent features whose credit rating has fallen. All derivatives have been appropriately collateralized by the Company or the counterparty in accordance with the terms of the derivative agreements. The following tables presents information about the Company’s offsetting of financial assets and liabilities and derivative instruments: Offsetting of Financial Assets and Liabilities and Derivative Instruments As of December 31, 2023 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (1) Net Amount (in millions) Assets: Derivative assets $ 12,495 $ 8,326 $ 4,169 $ (3,076) $ 1,093 Secured lending 93 — 93 — 93 Other financial assets 1,690 — 1,690 — 1,690 Other invested assets $ 14,278 $ 8,326 $ 5,952 $ (3,076) $ 2,876 Liabilities: Derivative liabilities $ 8,359 $ 8,326 $ 33 $ — $ 33 Secured lending 93 — 93 — 93 Other financial liabilities 2,370 — 2,370 — 2,370 Other liabilities $ 10,822 $ 8,326 $ 2,496 $ — $ 2,496 ______________ (1) Financial instruments sent (held). As of December 31, 2022 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (1) Net Amount (in millions) Assets: Derivative assets $ 8,024 $ 6,980 $ 1,044 $ (848) $ 196 Secured lending — — — — — Other financial assets 1,791 — 1,791 — 1,791 Other invested assets $ 9,815 $ 6,980 $ 2,835 $ (848) $ 1,987 Liabilities: Derivative liabilities $ 7,577 $ 6,980 $ 597 $ — $ 597 Secured lending — — — — — Other financial liabilities 2,081 — 2,081 — 2,081 Other liabilities $ 9,658 $ 6,980 $ 2,678 $ — $ 2,678 ______________ (1) Financial instruments sent (held).

CLOSED BLOCK

CLOSED BLOCK	12 Months Ended
	Dec. 31, 2023
Closed Block Disclosure [Abstract]
CLOSED BLOCK	CLOSED BLOCK As a result of demutualization, the Company’s Closed Block was established in 1992 for the benefit of certain individual participating policies that were in force on that date. Assets, liabilities and earnings of the Closed Block are specifically identified to support its participating policyholders. Assets allocated to the Closed Block inure solely to the benefit of the Closed Block policyholders and will not revert to the benefit of the Company. No reallocation, transfer, borrowing or lending of assets can be made between the Closed Block and other portions of the Company’s General Account, any of its Separate Accounts or any affiliate of the Company without the approval of the NYDFS. Closed Block assets and liabilities are carried on the same basis as similar assets and liabilities held in the General Account. The excess of Closed Block liabilities over Closed Block assets (adjusted to exclude the impact of related amounts in AOCI) represents the expected maximum future post-tax earnings from the Closed Block that would be recognized in income from continuing operations over the period the policies and contracts in the Closed Block remain in force. As of January 1, 2001, the Company has developed an actuarial calculation of the expected timing of the Closed Block’s earnings. If the actual cumulative earnings from the Closed Block are greater than the expected cumulative earnings, only the expected earnings will be recognized in net income. Actual cumulative earnings in excess of expected cumulative earnings at any point in time are recorded as a policyholder dividend obligation because they will ultimately be paid to Closed Block policyholders as an additional policyholder dividend unless offset by future performance that is less favorable than originally expected. If a policyholder dividend obligation has been previously established and the actual Closed Block earnings in a subsequent period are less than the expected earnings for that period, the policyholder dividend obligation would be reduced (but not below zero). If, over the period the policies and contracts in the Closed Block remain in force, the actual cumulative earnings of the Closed Block are less than the expected cumulative earnings, only actual earnings would be recognized in income from continuing operations. If the Closed Block has insufficient funds to make guaranteed policy benefit payments, such payments will be made from assets outside the Closed Block. Many expenses related to Closed Block operations, including amortization of DAC, are charged to operations outside of the Closed Block; accordingly, net revenues of the Closed Block do not represent the actual profitability of the Closed Block operations. Operating costs and expenses outside of the Closed Block are, therefore, disproportionate to the business outside of the Closed Block. Summarized financial information for the Company’s Closed Block is as follows: December 31, 2023 2022 (in millions) Closed Block Liabilities: Future policy benefits, policyholders’ account balances and other $ 5,461 $ 5,692 Policyholder dividend obligation — — Other liabilities 57 68 Total Closed Block liabilities 5,518 5,760 Assets Designated to the Closed Block: Fixed maturities AFS, at fair value (amortized cost of $2,945 and $3,171) (allowance for credit losses of $0 and $0) 2,800 2,948 Mortgage loans on real estate (net of allowance for credit losses of $13 and $4) 1,612 1,645 Policy loans 554 569 Cash and other invested assets 58 — Other assets 150 187 Total assets designated to the Closed Block 5,174 5,349 Excess of Closed Block liabilities over assets designated to the Closed Block 344 411 Amounts included in AOCI: Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $0 and $0; and net of income tax: $31 and $47 (115) (177) Maximum future earnings to be recognized from Closed Block assets and liabilities $ 229 $ 234 The Company’s Closed Block revenues and expenses were as follows: Year Ended December 31, 2023 2022 2021 (in millions) Revenues: Premiums and other income $ 115 $ 125 $ 144 Net investment income (loss) 209 221 237 Investment gains (losses), net (8) (3) 4 Total revenues 316 343 385 Benefits and Other Deductions: Policyholders’ benefits and dividends 309 330 375 Other operating costs and expenses — 2 3 Total benefits and other deductions 309 332 378 Net income (loss), before income taxes 7 11 7 Income tax (expense) benefit (2) 3 (3) Net income (loss) $ 5 $ 14 $ 4

DAC AND OTHER DEFERRED ASSETS_L

DAC AND OTHER DEFERRED ASSETS/LIABILITIES	12 Months Ended
	Dec. 31, 2023
Contract Holder Bonus Interest Credits [Abstract]
DAC AND OTHER DEFERRED ASSETS/LIABILITIES	DAC AND OTHER DEFERRED ASSETS/LIABILITIES The following table presents a reconciliation of DAC to the consolidated balance sheets: December 31, 2023 2022 (in millions) Term $ 338 $ 362 UL 22 20 VUL 182 112 GMxB Core 1,483 1,585 EQUI-VEST Individual 150 156 Investment Edge 150 147 SCS 1,282 1,266 GMxB Legacy 208 213 EQUI-VEST Group 723 711 Momentum 82 89 Closed Block 117 127 Other 22 26 Total $ 4,759 $ 4,814 Annually, or as circumstances warrant, we review the associated decrements assumptions (i.e., mortality and lapse) based on our multi-year average of companies experience with actuarial judgements to reflect other observable industry trends. In addition to DAC, the unearned revenue liability and sales inducement asset (“SIA”) use similar techniques and quarterly update processes for balance amortization. During the third quarter of 2023, 2022 and 2021, we completed our annual assumption update and the impact to the current period amortization of DAC and DAC like balances due to the new assumptions is immaterial. There were no other material changes to the inputs, judgements or calculation processes used in the DAC calculation this period or year. Changes in the DAC asset were as follows: Year Ended December 31, 2023 Term UL VUL GMxB Core EI IE SCS GMxB Legacy EG Momentum CB (1) Total (in millions) Balance, beginning of year $ 362 $ 20 $ 112 $ 1,585 $ 156 $ 147 $ 1,266 $ 213 $ 711 $ 89 $ 127 $ 4,788 Capitalization 15 3 78 52 11 21 223 26 73 10 — 512 Amortization (2) (39) (1) (8) (138) (12) (14) (194) (24) (42) (17) (10) (499) Recovery of acquisition cost (3) — — — (16) (5) (4) (13) (7) (19) — — (64) Balance, end of year $ 338 $ 22 $ 182 $ 1,483 $ 150 $ 150 $ 1,282 $ 208 $ 723 $ 82 $ 117 $ 4,737 ______________ (1) “CB” defined as Closed Block (2) DAC amortization of $4 million related to Other not reflected in table above. (3) Related to the Internal Reinsurance Transaction and is recorded in other income. Year Ended December 31, 2022 Term UL VUL GMxB Core EI IE SCS GMxB Legacy EG Momentum CB Total (in millions) Balance, beginning of year $ 385 $ 14 $ 50 $ 1,639 $ 156 $ 121 $ 1,070 $ 209 $ 678 $ 94 $ 138 $ 4,554 Capitalization 18 7 67 82 12 39 365 27 74 14 — 705 Amortization (1) (41) (1) (5) (136) (12) (13) (169) (23) (41) (19) (11) (471) Balance, end of year $ 362 $ 20 $ 112 $ 1,585 $ 156 $ 147 $ 1,266 $ 213 $ 711 $ 89 $ 127 $ 4,788 ______________ (1) DAC amortization of $2 million related to Other not reflected in table above. Changes in the sales inducement assets were as follows: Year Ended December 31, 2023 2022 GMxB Core GMxB Legacy GMxB Core GMxB Legacy (in millions) Balance, beginning of year $ 137 $ 200 $ 147 $ 222 Capitalization 1 — 2 — Amortization (12) (21) (12) (22) Balance, end of year $ 126 $ 179 $ 137 $ 200 Changes in the unearned revenue liability were as follows: Year Ended December 31, 2023 2022 UL VUL UL VUL (in millions) Balance, beginning of year $ 95 $ 525 $ 80 $ 501 Capitalization 18 61 21 56 Amortization (6) (35) (6) (32) Recovery of unearned revenue (2) — — — Balance, end of year $ 105 $ 551 $ 95 $ 525

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURES U.S. GAAP establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, and identifies three levels of inputs that may be used to measure fair value: Level 1 Unadjusted quoted prices for identical instruments in active markets. Level 1 fair values generally are supported by market transactions that occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar instruments, quoted prices in markets that are not active, and inputs to model-derived valuations that are directly observable or can be corroborated by observable market data. Level 3 Unobservable inputs supported by little or no market activity and often requiring significant management judgment or estimation, such as an entity’s own assumptions about the cash flows or other significant components of value that market participants would use in pricing the asset or liability. The Company uses unadjusted quoted market prices to measure fair value for those instruments that are actively traded in financial markets. In cases where quoted market prices are not available, fair values are measured using present value or other valuation techniques. The fair value determinations are made at a specific point in time, based on available market information and judgments about the financial instrument, including estimates of the timing and amount of expected future cash flows and the credit standing of counterparties. Such adjustments do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument, nor do they consider the tax impact of the realization of unrealized gains or losses. In many cases, the fair value cannot be substantiated by direct comparison to independent markets, nor can the disclosed value be realized in immediate settlement of the instrument. Management is responsible for the determination of the value of investments carried at fair value and the supporting methodologies and assumptions. Under the terms of various service agreements, the Company often utilizes independent valuation service providers to gather, analyze, and interpret market information and derive fair values based upon relevant methodologies and assumptions for individual securities. These independent valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of widely accepted valuation models, provide a single fair value measurement for individual securities for which a fair value has been requested. As further described below with respect to specific asset classes, these inputs include, but are not limited to, market prices for recent trades and transactions in comparable securities, benchmark yields, interest rate yield curves, credit spreads, quoted prices for similar securities, and other market-observable information, as applicable. Specific attributes of the security being valued are also considered, including its term, interest rate, credit rating, industry sector, and when applicable, collateral quality and other security- or issuer-specific information. When insufficient market observable information is available upon which to measure fair value, the Company either will request brokers knowledgeable about these securities to provide a non-binding quote or will employ internal valuation models. Fair values received from independent valuation service providers and brokers and those internally modeled or otherwise estimated are assessed for reasonableness. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Fair value measurements are required on a non-recurring basis for certain assets only when an impairment or other events occur. As of December 31, 2023 and 2022, no assets or liabilities were required to be measured at fair value on a non-recurring basis. Assets and Liabilities Measured at Fair Value on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis are summarized below. Fair Value Measurements as of December 31, 2023 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments: Fixed maturities, AFS: Corporate (1) $ — $ 35,197 $ 2,070 $ 37,267 U.S. Treasury, government and agency — 4,539 — 4,539 States and political subdivisions — 443 27 470 Foreign governments — 581 — 581 Residential mortgage-backed (2) — 1,344 — 1,344 Asset-backed (3) — 7,981 24 8,005 Commercial mortgage-backed — 2,894 6 2,900 Redeemable preferred stock — 59 — 59 Total fixed maturities, AFS — 53,038 2,127 55,165 Other equity investments 150 445 54 649 Trading securities 207 50 — 257 Other invested assets: Short-term investments — 414 — 414 Assets of consolidated VIEs/VOEs — — 3 3 Swaps — (180) — (180) Credit default swaps — (2) — (2) Options — 9,117 — 9,117 Total other invested assets — 9,349 3 9,352 Cash equivalents 1,917 616 — 2,533 Purchased market risk benefits — — 16,729 16,729 Assets for market risk benefits — — 574 574 Separate Accounts assets (4) 118,353 2,617 — 120,970 Modco payable (5) — — (411) (411) SCS, SIO, MSO and IUL indexed features’ asset — 7,140 — 7,140 Total Assets $ 120,627 $ 73,255 $ 19,076 $ 212,958 Liabilities: SCS, SIO, MSO and IUL indexed features’ liability (6) — 9,081 — 9,081 Liabilities for market risk benefits — — 14,570 14,570 Funds withheld payable (7) — — 100 100 Total Liabilities $ — $ 9,081 $ 14,670 $ 23,751 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types. (4) Separate Accounts assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate. As of December 31, 2023 the fair value of such investments was $371 million. (5) Reflected in Amounts due from reinsurers. (6) SCS embedded derivative asset is recorded as a modco receivable. This is presented net in the consolidated balance sheets. (7) As discussed in Note 2, the funds withheld payable is created through a funds withheld and modified coinsurance arrangements where the investments supporting the reinsurance agreement are withheld by and continue to reside on the Company’s consolidated balance sheet. This embedded derivative is valued as a total return swap with references to the fair value of the invested assets held by the Company, which are primarily available for sale securities.. Fair Value Measurements as of December 31, 2022 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments: Fixed maturities, AFS: Corporate (1) $ — $ 37,360 $ 2,103 $ 39,463 U.S. Treasury, government and agency — 5,738 — 5,738 States and political subdivisions — 442 29 471 Foreign governments — 836 — 836 Residential mortgage-backed (2) — 777 — 777 Asset-backed (3) — 8,449 — 8,449 Commercial mortgage-backed — 3,138 32 3,170 Redeemable preferred stock — 43 — 43 Total fixed maturities, AFS — 56,783 2,164 58,947 Other equity investments 137 478 12 627 Trading securities 160 123 — 283 Other invested assets: Short-term investments — 485 — 485 Assets of consolidated VIEs/VOEs — — 5 5 Swaps — (416) — (416) Credit default swaps — (2) — (2) Options — 4,153 — 4,153 Total other invested assets — 4,220 5 4,225 Cash equivalents 397 258 — 655 Purchased market risk benefits — — 10,490 10,490 Assets for market risk benefits — — 478 478 Separate Accounts assets (4) 108,378 2,429 1 110,808 Modco payable — — — — Total Assets $ 109,072 $ 64,291 $ 13,150 $ 186,513 Liabilities: SCS, SIO, MSO and IUL indexed features’ liability (5) — 4,077 — 4,077 Liabilities for market risk benefits — — 15,751 15,751 Funds withheld payable — — — — Total Liabilities $ — $ 4,077 $ 15,751 $ 19,828 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types. (4) Separate Accounts assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate and commercial mortgages. As of December 31, 2022 the fair value of such investments was $456 million. (5) SCS embedded derivative asset is recorded as a modco receivable. This is presented net in the consolidated balance sheets. Public Fixed Maturities The fair values of the Company’s public fixed maturities are generally based on prices obtained from independent valuation service providers and for which the Company maintains a vendor hierarchy by asset type based on historical pricing experience and vendor expertise. Although each security generally is priced by multiple independent valuation service providers, the Company ultimately uses the price received from the independent valuation service provider highest in the vendor hierarchy based on the respective asset type, with limited exception. To validate reasonableness, prices also are internally reviewed by those with relevant expertise through comparison with directly observed recent market trades. Consistent with the fair value hierarchy, public fixed maturities validated in this manner generally are reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. Private Fixed Maturities The fair values of the Company’s private fixed maturities are determined from prices obtained from independent valuation service providers. Prices not obtained from an independent valuation service provider are determined by using a discounted cash flow model or a market comparable company valuation technique. In certain cases, these models use observable inputs with a discount rate based upon the average of spread surveys collected from private market intermediaries who are active in both primary and secondary transactions, taking into account, among other factors, the credit quality and industry sector of the issuer and the reduced liquidity associated with private placements. Generally, these securities have been reflected within Level 2. For certain private fixed maturities, the discounted cash flow model or a market comparable company valuation technique may also incorporate unobservable inputs, which reflect the Company’s own assumptions about the inputs market participants would use in pricing the asset. To the extent management determines that such unobservable inputs are significant to the fair value measurement of a security, a Level 3 classification generally is made. Freestanding Derivative Positions The net fair value of the Company’s freestanding derivative positions as disclosed in Note 4 of the Notes to these Consolidated Financial Statements are generally based on prices obtained either from independent valuation service providers or derived by applying market inputs from recognized vendors into industry standard pricing models. The majority of these derivative contracts are traded in the OTC derivative market and are classified in Level 2. The fair values of derivative assets and liabilities traded in the OTC market are determined using quantitative models that require use of the contractual terms of the derivative instruments and multiple market inputs, including interest rates, prices, and indices to generate continuous yield or pricing curves, including overnight index swap curves, and volatility factors, which then are applied to value the positions. The predominance of market inputs is actively quoted and can be validated through external sources or reliably interpolated if less observable. Funds Withheld Payable Reinsurance agreements written on a funds withheld or modified coinsurance basis contain embedded derivatives. This embedded derivative is valued as a total return swap with reference to the fair value of the invested assets held by the Company. The fair value of the underlying assets is generally based on market observable inputs using industry standard valuation techniques. The valuation utilizing the asset value component for valuation of the embedded derivative requires certain significant inputs, which are generally not observable, and accordingly, the valuation is considered Level 3 in the fair value hierarchy. The fair value of the underlying assets is generally based on market observable inputs using industry standard valuation techniques. The valuation utilizing the asset value component for the valuation for the embedded derivatives requires certain significant inputs, which are generally not observable, and accordingly, the valuation is considered Level 3 in the fair value hierarchy. Level Classifications of the Company’s Financial Instruments Financial Instruments Classified as Level 1 Investments classified as Level 1 primarily include redeemable preferred stock, trading securities, cash equivalents and Separate Accounts assets. Fair value measurements classified as Level 1 include exchange-traded prices of fixed maturities, equity securities and derivative contracts, and net asset values for transacting subscriptions and redemptions of mutual fund shares held by Separate Accounts. Cash equivalents classified as Level 1 include money market accounts, overnight commercial paper and highly liquid debt instruments purchased with an original maturity of three months or less and are carried at cost as a proxy for fair value measurement due to their short-term nature. Financial Instruments Classified as Level 2 Investments classified as Level 2 are measured at fair value on a recurring basis and primarily include U.S. government and agency securities and certain corporate debt securities, such as public and private fixed maturities. As market quotes generally are not readily available or accessible for these securities, their fair value measures are determined utilizing relevant information generated by market transactions involving comparable securities and often are based on model pricing techniques that effectively discount prospective cash flows to present value using appropriate sector-adjusted credit spreads commensurate with the security’s duration, also taking into consideration issuer-specific credit quality and liquidity. Observable inputs generally used to measure the fair value of securities classified as Level 2 include benchmark yields, reported secondary trades, issuer spreads, benchmark securities and other reference data. Additional observable inputs are used when available, and as may be appropriate, for certain security types, such as prepayment, default, and collateral information for the purpose of measuring the fair value of mortgage- and asset-backed securities. The Company’s AAA-rated mortgage- and asset-backed securities are classified as Level 2 for which the observability of market inputs to their pricing models is supported by sufficient, albeit more recently contracted, market activity in these sectors. Certain Company products, such as the SCS, EQUI-VEST variable annuity products, IUL and the MSO fund available in some life contracts offer investment options which permit the contract owner to participate in the performance of an index, ETF or commodity price. These investment options, which depending on the product and on the index selected can currently have one, three, five or six year terms, provide for participation in the performance of specified indices, ETF or commodity price movement up to a segment-specific declared maximum rate. Under certain conditions that vary by product, e.g., holding these segments for the full term, these segments also shield policyholders from some or all negative investment performance associated with these indices, ETF or commodity prices. These investment options have defined formulaic liability amounts, and the current values of the option component of these segment reserves are classified as Level 2 embedded derivatives. The fair values of these embedded derivatives are based on data obtained from independent valuation service providers. Financial Instruments Classified as Level 3 The Company’s investments classified as Level 3 primarily include corporate debt securities, such as private fixed maturities and asset-backed securities. Determinations to classify fair value measures within Level 3 of the valuation hierarchy generally are based upon the significance of the unobservable factors to the overall fair value measurement. Included in the Level 3 classification are fixed maturities with indicative pricing obtained from brokers that otherwise could not be corroborated to market observable data. The Company has certain variable annuity contracts with GMDB, GMIB, GIB and GWBL and other features in-force that guarantee one of the following: • Return of Premium: the benefit is the greater of current account value or premiums paid (adjusted for withdrawals); • Ratchet: the benefit is the greatest of current account value, premiums paid (adjusted for withdrawals), or the highest account value on any anniversary up to contractually specified ages (adjusted for withdrawals); • Roll-Up: the benefit is the greater of current account value or premiums paid (adjusted for withdrawals) accumulated at contractually specified interest rates up to specified ages; • Combo: the benefit is the greater of the ratchet benefit or the roll-up benefit, which may include either a five year or an annual reset; or • Withdrawal: the withdrawal is guaranteed up to a maximum amount per year for life. The Company also issues certain benefits on its variable annuity products that are accounted for as market risk benefits carried at fair value and are also considered Level 3 for fair value leveling. The GMIBNLG feature allows the policyholder to receive guaranteed minimum lifetime annuity payments based on predetermined annuity purchase rates applied to the contract’s benefit base if and when the contract account value is depleted and the NLG feature is activated. The optional GMIB feature allows the policyholder to receive guaranteed minimum lifetime annuity payments based on predetermined annuity purchase rates. The GMWB feature allows the policyholder to withdraw at a minimum, over the life of the contract, an amount based on the contract’s benefit base. The GWBL feature allows the policyholder to withdraw, each year for the life of the contract, a specified annual percentage of an amount based on the contract’s benefit base. The GMAB feature increases the contract account value at the end of a specified period to a GMAB base. The GIB feature provides a lifetime annuity based on predetermined annuity purchase rates if and when the contract account value is depleted. This lifetime annuity is based on predetermined annuity purchase rates applied to a GIB base. The GMDB feature guarantees that the benefit paid upon death will not be less than a guaranteed benefit base. If the contract’s account value is less than the benefit base at the time a death claim is paid, the amount payable will be equal to the benefit base. The market risk benefits fair value will be equal to the present value of benefits less the present value of ascribed fees. Considerable judgment is utilized by management in determining the assumptions used in determining present value of benefits and ascribed fees related to lapse rates, withdrawal rates, utilization rates, non-performance risk, volatility rates, annuitization rates and mortality (collectively, the significant MRB assumptions). Purchased MRB assets, which are accounted for as market risk benefits carried at fair value are also considered Level 3 for fair value leveling. The purchased MRB asset fair value reflects the present value of reinsurance premiums, net of recoveries, adjusted for risk margins and nonperformance risk over a range of market consistent economic scenarios while the MRB asset and liability reflects the present value of expected future payments (benefits) less fees, adjusted for risk margins and nonperformance risk, attributable to the MRB asset and liability over a range of market-consistent economic scenarios. The valuations of the MRBs and purchased MRB assets incorporate significant non-observable assumptions related to policyholder behavior, risk margins and projections of equity Separate Accounts funds. The credit risks of the counterparty and of the Company are considered in determining the fair values of its MRBs and purchased MRB asset after taking into account the effects of collateral arrangements. Incremental adjustment to the risk free curve for counterparty non-performance risk is made to the fair values of the purchased MRB assets. Risk margins were applied to the non-capital markets inputs to the MRBs and purchased MRB valuations. After giving consideration to collateral arrangements, the Company reduced the fair value of its purchased MRB asset by $1.3 billion and $1.1 billion as of December 31, 2023 and 2022, respectively, to recognize incremental counterparty non-performance risk. The funds withheld embedded derivative liability is determined based upon a total return swap technique referencing the fair value of the investments held under the reinsurance contract as collateral and requires certain unobservable inputs. The funds withheld embedded derivative are considered Level 3 in the fair value hierarchy. The Company’s consolidated VIEs/VOEs hold investments that are classified as Level 3, primarily corporate bonds that are vendor priced with no ratings available, bank loans, non-agency collateralized mortgage obligations and asset-backed securities. Transfers of Financial Instruments Between Levels 2 and 3 During the year ended December 31, 2023, fixed maturities with fair values of $352 million were transferred out of Level 3 and into Level 2 principally due to the availability of trading activity and/or market observable inputs to measure and validate their fair values. In addition, fixed maturities with fair value of $11 million were transferred from Level 2 into the Level 3 classification. These transfers in the aggregate represent approximately 22.1% of total consolidated equity as of December 31, 2023. During the year ended December 31, 2022, fixed maturities with fair values of $121 million were transferred out of Level 3 and into Level 2 principally due to the availability of trading activity and/or market observable inputs to measure and validate their fair values. In addition, fixed maturities with fair value of $168 million were transferred from Level 2 into the Level 3 classification. These transfers in the aggregate represent approximately 26.9% of total consolidated equity as of December 31, 2022. The tables below present reconciliations for all Level 3 assets and liabilities and changes in unrealized gains (losses). Not included below are the changes in balances related to market risk benefits and purchased market risk benefits level 3 assets and liabilities, which are included in Note 9 of the Notes to these Consolidated Financial Statements. Year Ended December 31, 2023 Corporate State and Political Subdivisions Asset-backed CMBS (in millions) Balance, beginning of year $ 2,103 $ 29 $ — $ 32 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 6 — — — Investment gains (losses), net (17) — — — Subtotal (11) — — — Other comprehensive income (loss) 50 — — (1) Purchases 514 — 24 2 Sales (272) (2) — — Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) 11 — — — Transfers out of Level 3 (1) (325) — — (27) Balance, end of year $ 2,070 $ 27 $ 24 $ 6 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ 4 $ — $ — $ (1) _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of December 31, 2023 amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. Year Ended December 31, 2023 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable (in millions) Balance, beginning of year $ 17 $ 1 $ — $ — Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income (2) — — — Net derivative gains (losses) — — — — Total realized and unrealized gains (losses) (2) — — — Other comprehensive income (loss) — — — — Purchases 43 — — — Sales — — — — Change in fair value of funds withheld assets — — 100 (411) Other — — — — Activity related to consolidated VIEs/VOEs (1) — — — Transfers into Level 3 (1) — — — — Transfers out of Level 3 (1) — (1) — — Balance, end of year $ 57 $ — $ 100 $ (411) Year Ended December 31, 2023 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ (2) $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ — $ — $ — $ — _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of December 31, 2023, amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. (3) Other Equity Investments include other invested assets. Year Ended December 31, 2022 Corporate State and Political Subdivisions Asset-backed CMBS (in millions) Balance, beginning of year $ 1,493 $ 35 $ 8 $ 20 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 5 — — — Investment gains (losses), net (5) — — — Subtotal — — — — Other comprehensive income (loss) (157) (5) — (2) Purchases 1,093 — — 14 Sales (379) (1) (2) — Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) 168 — — — Transfers out of Level 3 (1) (115) — (6) — Balance, end of year $ 2,103 $ 29 $ — $ 32 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ (154) $ (5) $ — $ (2) _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of December 31, 2022 amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. Year Ended December 31, 2022 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable (in millions) Balance, beginning of period $ 13 $ 1 $ — $ — Realized and unrealized gains (losses), included in Net income (loss) as: Year Ended December 31, 2022 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable (in millions) Investment gains (losses), reported in net investment income (1) — — — Net derivative gains (losses) — — — — Total realized and unrealized gains (losses) (1) — — — Other comprehensive income (loss) — — — — Purchases 8 — — — Sales — — — — Other — — — — Activity related to consolidated VIEs/VOEs (3) — — — Transfers into Level 3 (1) — — — — Transfers out of Level 3 (1) — — — — Balance, end of period $ 17 $ 1 $ — $ — Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ (1) $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ — $ — $ — $ — _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of December 31, 2022, amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. (3) Other Equity Investments include other invested assets. Year Ended December 31, 2021 Corporate State and Political Subdivisions Asset-backed CMBS (in millions) Balance, beginning of year $ 1,687 $ 39 $ 20 $ — Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 5 — — — Investment gains (losses), net (16) — — — Subtotal (11) — — — Other comprehensive income (loss) 34 (2) — — Purchases 937 — 6 20 Sales (468) (2) (18) — Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) 27 — — — Transfers out of Level 3 (1) (713) — — — Balance, end of year $ 1,493 $ 35 $ 8 $ 20 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ 28 $ (2) $ — $ — _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of December 31, 2021 amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. Year Ended December 31, 2021 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable (in millions) Balance, beginning of period $ 15 $ 1 $ — $ — Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income 2 — — — Net derivative gains (losses) — — — — Total realized and unrealized gains (losses) 2 — — — Other comprehensive income (loss) — — — — Purchases 1 1 — — Sales (1) — — — Other — — — — Activity related to consolidated VIEs/VOEs (4) — — — Transfers into Level 3 (1) — — — — Transfers out of Level 3 (1) — (1) — — Balance, end of period $ 13 $ 1 $ — $ — Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ 2 $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ — $ — $ — $ — _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of December 31, 2021, amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. (3) Carrying Value of Financial Instruments Not Otherwise Disclosed in Note 3 and Note 4 of the Notes to these Consolidated Financial Statements The carrying values and fair values for financial instruments not otherwise disclosed in Note 3 and Note 4 of the Notes to these Consolidated Financial Statements were as follows: Carrying Values and Fair Values for Financial Instruments Not Otherwise Disclosed Carrying Value Fair Value Level 1 Level 2 Level 3 Total (in millions) December 31, 2023: Mortgage loans on real estate $ 17,

LIABILITIES FOR FUTURE POLICYHO

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS	LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS The following table reconciles the net liability for future policy benefits and liability of death benefits to the liability for future policy benefits in the consolidated balance sheets: December 31, 2023 December 31, 2022 (in millions) Reconciliation Term $ 1,341 $ 1,359 Payout - Non-Legacy 844 828 Payout - Legacy 3,620 2,689 Group Pension - Benefit Reserve & DPL 490 523 Health 1,505 1,560 UL 1,220 1,119 Subtotal 9,020 8,078 Whole Life Closed Block and Open Block products 5,463 5,687 Other (1) 657 608 Future policyholder benefits total 15,140 14,373 Other policyholder funds and dividends payable 1,433 1,562 Total $ 16,573 $ 15,935 ______________ (1) Primarily consists of future policy benefits related to Assumed Life and Disability, Group Life Run off, Variable Interest Sensitive Life rider and Major Medical products. The following table summarizes balances and changes in the liability for future policy benefits for nonparticipating traditional and limited pay contracts: Year Ended December 31, 2023 Year Ended December 31, 2022 Term Payout - Non-Legacy Payout-Legacy Group Pension Health Term Payout-Non-Legacy Payout-Legacy Group Pension Health (in millions) Present Value of Expected Net Premiums Balance, beginning of year $ 2,090 $ — $ — $ — $ (6) $ 2,472 $ — $ — $ — $ 22 Beginning balance at original discount rate 2,069 — — — (6) 1,854 — — — 19 Effect of changes in cash flow assumptions 47 — — — (6) 204 — — — (10) Effect of actual variances from expected experience (36) — — — (12) 30 — — — (16) Adjusted beginning of period balance 2,080 — — — (24) 2,088 — — — (7) Issuances 64 — — — — 76 — — — — Year Ended December 31, 2023 Year Ended December 31, 2022 Term Payout - Non-Legacy Payout-Legacy Group Pension Health Term Payout-Non-Legacy Payout-Legacy Group Pension Health (in millions) Interest accrual 100 — — — (1) 97 — — — — Net premiums collected (194) — — — 3 (192) — — — 1 Ending Balance at original discount rate 2,051 — — — (22) 2,069 — — — (6) Effect of changes in discount rate assumptions 74 — — — 1 21 — — — — Balance, end of year $ 2,125 $ — $ — $ — $ (21) $ 2,090 $ — $ — $ — $ (6) Present Value of Expected Future Policy Benefits Balance, beginning of period $ 3,449 $ 828 $ 2,689 $ 523 $ 1,554 $ 4,274 $ 1,114 $ 2,547 $ 683 $ 2,092 Beginning balance of original discount rate 3,376 845 3,024 583 1,795 3,225 883 2,400 632 1,915 Effect of changes in cash flow assumptions 59 — — — (6) 221 (2) (2) — (5) Effect of actual variances from expected experience (43) — (3) — (22) 30 (1) (3) 1 (13) Adjusted beginning of period balance 3,392 845 3,021 583 1,767 3,476 880 2,395 633 1,897 Issuances 70 47 996 — — 83 23 758 — — Interest accrual 166 39 88 19 57 166 40 63 21 61 Benefits payments (311) (91) (265) (66) (152) (349) (98) (192) (71) (163) Ending balance at original discount rate 3,317 840 3,840 536 1,672 3,376 845 3,024 583 1,795 Effect of changes in discount rate assumptions 149 4 (220) (46) (188) 73 (17) (335) (60) (241) Balance, end of period $ 3,466 $ 844 $ 3,620 $ 490 $ 1,484 $ 3,449 $ 828 $ 2,689 $ 523 $ 1,554 Net liability for future policy benefits $ 1,341 $ 844 $ 3,620 $ 490 $ 1,505 $ 1,359 $ 828 $ 2,689 $ 523 $ 1,560 Less: Reinsurance recoverable (210) (29) (1,309) — (1,191) (209) — (466) 1 (1,242) Net liability for future policy benefits, after reinsurance recoverable $ 1,131 $ 815 $ 2,311 $ 490 $ 314 $ 1,150 $ 828 $ 2,223 $ 524 $ 318 Weighted-average duration of liability for future policyholder benefits (years) 7.0 9.3 7.7 7.1 8.7 7.0 9.5 8.1 7.2 8.7 The following table provides the amount of undiscounted and discounted expected gross premiums and expected future benefits and expenses related to nonparticipating traditional and limited payment contracts: December 31, 2023 December 31, 2022 (in millions) Term Expected future benefit payments and expenses (undiscounted) $ 5,860 $ 6,002 December 31, 2023 December 31, 2022 (in millions) Expected future gross premiums (undiscounted) 6,956 7,245 Expected future benefit payments and expenses (discounted) 3,466 3,449 Expected future gross premiums (discounted) 3,862 3,883 Payout-Legacy Expected future benefit payments and expenses (undiscounted) 5,204 3,947 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 3,538 2,607 Expected future gross premiums (discounted) — — Payout-Non-Legacy Expected future benefit payments and expenses (undiscounted) 1,426 1,460 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 812 801 Expected future gross premiums (discounted) — — Group Pension Expected future benefit payments and expenses (undiscounted) 668 730 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 471 563 Expected future gross premiums (discounted) — — Health Expected future benefit payments and expenses (undiscounted) 2,318 2,510 Expected future gross premiums (undiscounted) 85 99 Expected future benefit payments and expenses (discounted) 1,468 1,533 Expected future gross premiums (discounted) $ 68 $ 78 The table below summarizes the revenue and interest related to nonparticipating traditional and limited payment contracts: Year Ended December 31, Year Ended December 31, 2023 2022 2021 2023 2022 2021 Gross Premium Interest Accretion (in millions) Revenue and Interest Accretion Term $ 349 $ 229 $ 239 $ 67 $ 70 $ 75 Payout - Legacy 220 101 106 109 63 $ 60 Payout - Non-Legacy 46 21 19 39 40 40 Group Pension — — — 20 21 23 Health 15 9 10 58 61 64 Total $ 630 $ 360 $ 374 $ 293 $ 255 $ 262 The following table provides the weighted average interest rates for the liability for future policy benefits: Year Ended December 31, 2023 2022 Weighted Average Interest Rate Term Interest accretion rate 5.6 % 5.7 % Current discount rate 4.8 % 5.1 % Payout - Legacy Interest accretion rate 4.0 % 3.4 % Current discount rate 4.9 % 5.0 % Payout - Non-Legacy Interest accretion rate 5.0 % 4.9 % Current discount rate 4.9 % 5.2 % Group Pension Interest accretion rate 3.3 % 3.4 % Current discount rate 4.8 % 5.1 % Health Interest accretion rate 3.4 % 3.3 % Current discount rate 4.9 % 5.2 % The following table provides the balance, changes in and the weighted average durations of the additional insurance liabilities: Year Ended December 31, 2023 2022 UL (Dollars in millions) Balance, beginning of period $ 1,120 $ 1,082 Beginning balance before AOCI adjustments 1,135 1,076 Effect of changes in interest rate and cash flow assumptions and model changes 21 8 Effect of actual variances from expected 10 25 Adjusted beginning of period balance 1,166 1,109 Interest accrual 52 49 Net assessments collected 69 68 Benefit payments (57) (91) Ending balance before shadow reserve adjustments 1,230 1,135 Effect of reserve adjustment recorded in AOCI (10) (15) Balance, end of year $ 1,220 $ 1,120 Net liability for additional liability $ 1,220 $ 1,120 Less: Reinsurance recoverable (946) (562) Net liability for additional liability, after reinsurance recoverable $ 274 $ 558 Weighted-average duration of additional liability - death benefit (years) 19.9 22.0 The following tables provide the revenue, interest and weighted average interest rates, related to the additional insurance liabilities: Year Ended December 31, 2023 2022 2021 2023 2022 2021 Assessments Interest Accretion (in millions) Revenue and Interest Accretion UL $ 670 $ 666 $ 850 $ 51 $ 49 $ 45 Total $ 670 $ 666 $ 850 $ 51 $ 49 $ 45 Year Ended December 31, 2023 2022 2021 Weighted Average Interest Rate UL 4.5 % 4.5 % 4.5 % Interest accretion rate 4.5 % 4.5 % 4.5 % For 2023, 2022 and 2021, respectively, Equitable Financial’s statutory net income (loss) totaled $(1.7) billion, $134 million and $(865) million. Statutory surplus, Capital stock and AVR totaled $2.8 billion and $6.6 billion as of December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, Equitable Financial, in accordance with various government and state regulations, had $5 million and $5 million, respectively, of securities on deposit with such government or state agencies. In 2023 and 2022, Equitable Financial paid to its direct parent, which subsequently distributed such amount to Holdings, an ordinary shareholder dividend of $1.7 billion and $930 million, respectively. Equitable Financial did not pay ordinary dividends during 2021 due to operating losses. Dividend Restrictions As a domestic insurance subsidiary regulated by the insurance laws of New York State, Equitable Financial is subject to restrictions as to the amounts the Company may pay as dividends and amounts the Company may repay of surplus notes to Holdings. State insurance statutes also typically place restrictions and limitations on the amount of dividends or other distributions payable by insurance company subsidiaries to their parent companies, as well as on transactions between an insurer and its affiliates. Under the New York insurance laws, which are applicable to Equitable Financial, a domestic stock life insurer may not, without prior approval of the NYDFS, pay an ordinary dividend to its stockholders exceeding an amount calculated based on a statutory formula (“Ordinary Dividend”). Dividends in excess of this amount require the insurer to file a notice of its intent to declare the dividends with the NYDFS and obtain prior approval or non-disapproval from the NYDFS with respect to such dividends (“Extraordinary Dividend”). Due to a permitted statutory accounting practice agreed to with the NYDFS, Equitable Financial will need the prior approval of the NYDFS to pay the portion, if any, of any Ordinary Dividend that exceeds the Ordinary Dividend that Equitable Financial would be permitted to pay under New York insurance law absent the application of such permitted practice (such excess, the “Permitted Practice Ordinary Dividend”). Applying the formulas above, Equitable Financial is not permitted to pay an Ordinary Dividend in 2024. Intercompany Reinsurance The company receives statutory reserve credits for reinsurance treaties with EQ AZ Life Re to the extent EQ AZ Life Re holds assets in an irrevocable trust (the “EQ AZ Life Re Trust”). As of December 31, 2023, EQ AZ Life Re holds $1.3 billion of assets in the EQ AZ Life Re Trust and letters of credit of $2.0 billion that are guaranteed by Holdings. Under the reinsurance transactions, EQ AZ Life Re is permitted to transfer assets from the EQ AZ Life Re Trust under certain circumstances. The level of statutory reserves held by EQ AZ Life Re fluctuate based on market movements, mortality experience and policyholder behavior. Increasing reserve requirements may necessitate that additional assets be placed in trust and/or additional letters of credit be secured, which could adversely impact EQ AZ Life Re’s liquidity. Prescribed and Permitted Accounting Practices As of December 31, 2023, the following three prescribed and permitted practices resulted in surplus that is different from the statutory surplus that would have been reported had NAIC statutory accounting practices been applied. Equitable Financial was granted a permitted practice by the NYDFS to apply SSAP 108, Derivatives Hedging Variable Annuity Guarantees on a retroactive basis from January 1, 2021 through June 30, 2021, after reflecting the impacts of our reinsurance transaction with Venerable. The permitted practice was amended to also permit Equitable Financial to adopt SSAP 108 prospectively as of July 1, 2021 and to consider the impact of both the interest rate derivatives and the general account assets used to fully hedge the interest rate risk inherent in its variable annuity guarantees when determining the amount of the deferred asset or liability under SSAP 108. Application of the permitted practice partially mitigates the New York Insurance Regulation 213 (“Reg 213”) impact of the Venerable Transaction on Equitable Financial’s statutory capital and surplus and enables Equitable Financial to more effectively neutralize the impact of interest rates on its statutory surplus and to better align with our economic hedging program. The impact of applying this permitted practice relative to SSAP 108 as written was a decrease of approximately $64 million in statutory special surplus funds as of December 31, 2023. The Reinsurance Treaty reduced the amount of interest rate hedging needed going forward, affecting future deferrals, but leaves our historical SSAP 108 deferred amounts unchanged. The permitted practice also reset Equitable Financial’s unassigned surplus to zero as of June 30, 2021 to reflect the transformative nature of the Venerable Transaction. The NAIC Accounting Practices and Procedures manual (“NAIC SAP”) has been adopted as a component of prescribed or permitted practices by the State of New York. However, Reg 213 adopted in May of 2019 and as amended in February 2020 and March 2021, differs from the NAIC variable annuity reserve and capital framework. Reg 213 requires Equitable Financial to carry statutory basis reserves for its variable annuity contract obligations equal to the greater of those required under (i) the NAIC standard or (ii) a revised version of the NYDFS requirement in effect prior to the adoption of the first amendment for contracts issued prior to January 1, 2020, and for policies issued after that date a new standard that in current market conditions imposes more conservative reserving requirements for variable annuity contracts than the NAIC standard. The impact of the application of Reg 213 was a decrease of approximately $251 million in statutory surplus as of December 31, 2023 compared to statutory surplus under the NAIC variable annuity framework. Our hedging program is designed to hedge the economics of our insurance liabilities and largely offsets Reg 213 and NAIC framework reserve movements due to interest rates and equities. The NYDFS allows domestic insurance companies a five year phase-in provision for Reg 213 reserves. As of September 30, 2022, Equitable Financial’s Reg 213 reserves were 100% phased-in. As of December 31, 2023, given the prevailing market conditions and business mix, there are $241 million Reg 213 redundant reserves over the US RBC CTE 98 total asset requirement (“TAR”). During the fourth quarter 2020, Equitable Financial received approval from NYDFS for its proposed amended Plan of Operation for Separate Account No. 68 (“SA 68”) for our Structured Capital Strategies product and Separate Account No. 69 (“SA 69”) for our EQUI-VEST product Structured Investment Option, to change the accounting basis of these two non-insulated Separate Accounts from fair value to book value in accordance with Section 1414 of the Insurance Law to align with how we manage and measure our overall general account asset portfolio. In order to facilitate this change and comply with Section 4240(a)(10), the Company also sought approval to amend the Plans to remove the requirement to comply with Section 4240(a)(5)(iii) and substitute it with a commitment to comply with Section 4240(a)(5)(i). Similarly, the Company updated the reserves section of each Plan to reflect the fact that Regulation 128 would no longer be applicable upon the change in accounting basis. We applied this change effective January 1, 2021. The impact of the application is an increase of approximately $1.9 billion in statutory surplus as of December 31, 2023. Differences between Statutory Accounting Principles and U.S. GAAP Accounting practices used to prepare statutory financial statements for regulatory filings of stock life insurance companies differ in certain instances from U.S. GAAP. The differences between statutory surplus and capital stock determined in accordance with SAP and total equity under U.S. GAAP are primarily: (a) the inclusion in SAP of an AVR intended to stabilize surplus from fluctuations in the value of the investment portfolio; (b) future policy benefits and policyholders’ account balances under SAP differ from U.S. GAAP due to differences between actuarial assumptions and reserving methodologies; (c) certain policy acquisition costs are expensed under SAP but deferred under U.S. GAAP and amortized over future periods to achieve a matching of revenues and expenses; (d) under SAP, Federal income taxes are provided on the basis of amounts currently payable with limited recognition of deferred tax assets while under U.S. GAAP, deferred taxes are recorded for temporary differences between the financial statements and tax basis of assets and liabilities where the probability of realization is reasonably assured; (e) the valuation of assets under SAP and U.S. GAAP differ due to different investment valuation and depreciation methodologies, as well as the deferral of interest-related realized capital gains and losses on fixed income investments; (f) reporting the surplus notes as a component of surplus in SAP but as a liability in U.S. GAAP; (g) computer software development costs are capitalized under U.S. GAAP but expensed under SAP; (h) certain assets, primarily prepaid assets, are not admissible under SAP but are admissible under U.S. GAAP; and (i) cost of reinsurance which is recognized as expense under SAP and amortized over the life of the underlying reinsured policies under U.S. GAAP.

MARKET RISK BENEFITS

MARKET RISK BENEFITS	12 Months Ended
	Dec. 31, 2023
Market Risk Benefit [Abstract]
MARKET RISK BENEFITS	MARKET RISK BENEFITS The following table presents the balances and changes to the balances for market risk benefits for the GMxB benefits on deferred variable annuities: Year Ended December 31, 2023 GMxB Core Purchased MRB Core Net GMxB Core GMxB Legacy Purchased MRB Legacy (4) Net GMxB Legacy (Dollars in millions) Balance, beginning of year $ 539 $ — $ 539 $ 14,699 $ (10,492) $ 4,207 Beginning balance before changes in the instrument specific credit risk 538 — 538 15,314 (10,438) 4,876 Model changes and effect of changes in cash flow assumptions 5 (42) (37) (19) (16) (35) Actual market movement effect (466) 229 (237) (1,847) 1,464 (383) Interest accrual 72 (25) 47 770 (762) 8 Attributed fees accrued (1) 397 (273) 124 843 (538) 305 Benefit payments (47) 34 (13) (1,354) 1,175 (179) Actual policyholder behavior different from expected behavior 16 (13) 3 (14) (12) (26) Changes in future economic assumptions (191) 118 (73) (673) 426 (247) Issuances (2) — (1,294) (1,294) — (6,842) (6,842) Ending balance before changes in the instrument-specific credit risk 324 (1,266) (942) 13,020 (15,543) (2,523) Changes in the instrument-specific credit risk (3) 254 86 340 390 24 414 Balance, end of year $ 578 $ (1,180) $ (602) $ 13,410 $ (15,519) $ (2,109) Weighted-average age of policyholders (years) 64.5 64.9 N/A 73.0 73.3 N/A Net amount at risk $ 2,991 $ 2,933 N/A $ 21,136 $ 20,737 N/A _______________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Issuances are related to the Reinsurance Treaty with Equitable America. See Note 1 of the Notes to these Consolidated Financial Statements. (3) Changes are recorded in OCI. (4) Purchased MRB is the impact of non-affiliated reinsurance and affiliated reinsurance with Equitable America. Effective April 1, 2023, the Company recorded $8.2 billion of Purchased MRB as result of the Reinsurance Treaty. See Note 1 and Note 12 for additional information. Year Ended December 31, 2022 2021 GMxB Core GMxB Legacy Purchased MRB Legacy (3) Net GMxB Legacy GMxB Core GMxB Legacy Purchased MRB Legacy (3) Net Legacy (Dollars in millions) Balance, beginning of year $ 1,061 $ 20,236 $ (14,293) $ 5,943 $ 2,143 $ 24,405 $ (3,131) $ 21,274 Beginning balance before changes in the instrument specific credit risk 666 19,719 (14,287) 5,432 $ 1,639 23,944 (3,136) 20,808 Model changes and effect of changes in cash flow assumptions (5) 317 (137) 180 (279) (196) 73 (123) Actual market movement effect 1,060 3,402 (1,278) 2,124 (715) (2,968) 767 (2,201) Interest accrual 37 731 (493) 238 7 196 (124) 72 Attributed fees accrued (1) 395 882 (298) 584 386 917 (196) 721 Benefit payments (36) (1,179) 669 (510) (14) (901) 350 (551) Actual policyholder behavior different from expected behavior 19 142 (103) 39 40 78 34 112 Changes in future economic assumptions (1,596) (8,700) 5,489 (3,211) (397) (1,351) (907) (2,258) Issuances (2) — — — (1) — (11,148) (11,148) Ending balance before changes in the instrument-specific credit risk 538 15,314 (10,438) 4,876 $ 666 19,719 (14,287) 5,432 Changes in the instrument-specific credit risk (2) 1 (615) (54) (669) 395 517 (6) 511 Balance, end of year $ 539 $ 14,699 $ (10,492) $ 4,207 $ 1,061 $ 20,236 $ (14,293) $ 5,943 Weighted-average age of policyholders (years) 63.6 72.6 72.1 N/A 62.6 72.0 71.5 N/A Net amount at risk (4) $ 3,517 $ 22,631 $ 11,755 N/A $ 1,115 $ 15,901 $ 9,055 N/A _______________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Changes are recorded in OCI. (3) Purchased MRB is the impact of non-affiliated reinsurance. The following table reconciles market risk benefits by the amounts in an asset position and amounts in a liability position to the market risk benefit amounts in the consolidated balance sheets: Year Ended December 31, 2023 2022 MRB Asset MRB Liability Net MRB Purchased MRB Total MRB Asset MRB Liability Net MRB Purchased MRB Total (in millions) GMxB Core $ (410) $ 988 $ 578 $ (1,180) $ (602) $ (375) $ 914 $ 539 $ — $ 539 GMxB Legacy (103) 13,513 13,410 (15,519) (2,109) (51) 14,749 14,698 (10,493) 4,205 Other (1) (61) 69 8 (30) (22) (52) 88 36 3 39 Total $ (574) $ 14,570 $ 13,996 $ (16,729) $ (2,733) $ (478) $ 15,751 $ 15,273 $ (10,490) $ 4,783 ______________ (1) Other primarily includes Individual EQUI-VEST MRB.

POLICYHOLDER ACCOUNT BALANCES

POLICYHOLDER ACCOUNT BALANCES	12 Months Ended
	Dec. 31, 2023
Policyholder Account Balance [Abstract]
POLICYHOLDER ACCOUNT BALANCES	POLICYHOLDER ACCOUNT BALANCES The following table reconciles the policyholders account balances to the policyholders’ account balance liability in the consolidated balance sheets: Year Ended December 31, 2023 2022 (in millions) Policyholders’ account balance reconciliation UL $ 5,202 $ 5,341 VUL 4,145 4,253 GMxB Legacy 618 688 GMxB Core (5) 42 SCS 40,649 35,460 EQUI-VEST Individual 2,322 2,652 EQUI-VEST Group 11,563 12,046 Momentum 608 703 Other (1) 2,995 2,916 Balance (exclusive of Funding Agreements) 68,097 64,101 Funding Agreements 14,893 15,641 Balance, end of year $ 82,990 $ 79,742 _______________ (1) Primarily reflects products, IR Payout, IR Other, Investment Edge, Association, Indexed Universal Life, Group Pension and Closed Block. The following tables summarize the balances and changes in policyholder’s account balances: Year Ended December 31, 2023 Universal Life Variable Universal Life GMxB Legacy GMxB Core SCS (1) EQUI-VEST Individual EQUI-VEST Group Momentum (Dollars in millions) Balance, beginning of year $ 5,341 $ 4,253 $ 688 $ 42 $ 35,460 $ 2,652 $ 12,046 $ 703 Issuances — — — — — — — — Premiums received 698 114 98 43 9 37 626 70 Policy charges (761) (217) 9 3 (8) — (4) (1) Surrenders and withdrawals (79) (44) (97) (33) (2,853) (378) (1,704) (153) Benefit payments (219) (112) (103) (2) (249) (70) (71) (4) Net transfers from (to) separate account — (33) (4) (62) 2,569 6 272 (21) Interest credited (2) 222 184 27 4 5,721 72 387 14 Other — — — — — 3 11 — Balance, end of year $ 5,202 $ 4,145 $ 618 $ (5) $ 40,649 $ 2,322 $ 11,563 $ 608 Weighted-average crediting rate 3.77 % 3.75 % 2.71 % 1.29 % N/A 2.84 % 2.66 % 2.33 % Net amount at risk (3) $ 35,490 $ 83,050 $ 21,136 $ 2,991 $ 1 $ 109 $ 10 $ — Cash surrender value $ 3,423 $ 2,644 $ 572 $ 216 $ 37,816 $ 2,315 $ 11,506 $ 609 Year Ended December 31, 2022 Universal Life Variable Universal Life GMxB Legacy GMxB Core SCS (1) EQUI-VEST Individual EQUI-VEST Group Momentum (Dollars in millions) Balance, beginning of year $ 5,462 $ 4,193 $ 746 $ 99 $ 33,443 $ 2,784 $ 11,952 $ 705 Issuances — — — — — — — — Premiums received 730 143 72 134 2 46 610 79 Policy charges (789) (210) 6 (19) — (1) (5) — Surrenders and withdrawals (86) (12) (72) (30) (2,452) (225) (995) (148) Benefit payments (200) (85) (99) (2) (209) (59) (70) (2) Net transfers from (to) separate account — 75 5 (146) 7,229 28 303 54 Interest credited (2) 224 149 30 6 (2,553) 79 251 15 Other — — — — — — — — Balance, end of year $ 5,341 $ 4,253 $ 688 $ 42 $ 35,460 $ 2,652 $ 12,046 $ 703 Weighted-average crediting rate 3.62% 3.86% 1.80% 1.05% 1.12% 2.85% 3.00% 2.02% Net amount at risk (3) $ 37,555 $ 85,086 $ 22,631 $ 3,517 $ 92 $ 143 $ 138 $ — Cash surrender value $ 3,483 $ 2,838 $ 980 $ 264 $ 31,856 $ 2,645 $ 11,961 $ 702 ______________ (1) SCS sales are recorded as a Separate Account liability until they are swept into the General Account. This sweep is recorded as Net Transfers from (to) separate account. (2) SCS and EQUI-VEST Group includes amounts related to the change in embedded derivative. (3) For life insurance products the net amount at risk is death benefit less account value for the policyholder. For variable annuity products the net amount risk is the maximum GMxB NAR for the policyholder. The following tables present the account values by range of guaranteed minimum crediting rates and the related range of the difference in basis points, between rates being credited policyholders and the respective guaranteed minimums: December 31, 2023 Product (1) Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 Basis Point - 50 Basis Points Above 51 Basis Points - 150 Basis Points Above Greater Than 150 Basis Points Above Total (in millions) UL 0% - 1.50% $ — $ — $ — $ 6 $ 6 1.51% - 2.50% 61 69 462 430 1,022 Greater than 2.50% 3,515 627 — — 4,142 Total $ 3,576 $ 696 $ 462 $ 436 $ 5,170 VUL 0% - 1.50% $ 8 $ 9 $ 18 $ 6 $ 41 1.51% - 2.50% 34 408 28 — 470 Greater than 2.50% 3,259 — — — 3,259 Total $ 3,301 $ 417 $ 46 $ 6 $ 3,770 GMxB Legacy 0% - 1.50% $ 75 $ 16 $ — $ — $ 91 1.51% - 2.50% 21 — — — 21 Greater than 2.50% 461 — — — 461 Total $ 557 $ 16 $ — $ — $ 573 GMxB Core 0% - 1.50% $ 13 $ 187 $ — $ — $ 200 1.51% - 2.50% 13 — — — 13 Greater than 2.50% 7 — — — 7 Total $ 33 $ 187 $ — $ — $ 220 December 31, 2023 Product (1) Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 Basis Point - 50 Basis Points Above 51 Basis Points - 150 Basis Points Above Greater Than 150 Basis Points Above Total (in millions) EQUI-VEST Individual 0% - 1.50% $ 49 $ 218 $ — $ — $ 267 1.51% - 2.50% 43 — — — 43 Greater than 2.50% 2,011 — — — 2,011 Total $ 2,103 $ 218 $ — $ — $ 2,321 EQUI-VEST Group 0% - 1.50% $ 773 $ 2,338 $ 36 $ 315 $ 3,462 1.51% - 2.50% $ 345 $ — $ — $ — $ 345 Greater than 2.50% 6,610 — — — 6,610 Total $ 7,728 $ 2,338 $ 36 $ 315 $ 10,417 SCS Products with either a fixed rate or no guaranteed minimum N/A N/A N/A N/A N/A Momentum 0% - 1.50% $ — $ 12 $ 330 $ 53 $ 395 1.51% - 2.50% 138 1 — — 139 Greater than 2.50% 68 — 5 — 73 Total $ 206 $ 13 $ 335 $ 53 $ 607 December 31, 2022 Product Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 Basis Point - 50 Basis Points Above 51 Basis Points - 150 Basis Points Above Greater Than 150 Basis Points Above Total (in millions) UL 0% - 1.50% $ — $ — $ 5 $ 1 $ 6 1.51% - 2.50% 181 197 605 47 1,030 Greater than 2.50% 3,615 657 — — 4,272 Total $ 3,796 $ 854 $ 610 $ 48 $ 5,308 VUL 0% - 1.50% $ 12 $ 9 $ 5 $ 1 $ 27 1.51% - 2.50% 411 42 — — 453 Greater than 2.50% 3,441 — — — 3,441 Total $ 3,864 $ 51 $ 5 $ 1 $ 3,921 GMxB Legacy 0% - 1.50% $ 386 $ — $ — $ — $ 386 1.51% - 2.50% 560 — — — 560 Greater than 2.50% 35 — — — 35 Total $ 981 $ — $ — $ — $ 981 GMxB Core 0% - 1.50% $ 257 $ — $ — $ — $ 257 1.51% - 2.50% 14 — — — 14 Greater than 2.50% — — — — — Total $ 271 $ — $ — $ — $ 271 December 31, 2022 Product Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 Basis Point - 50 Basis Points Above 51 Basis Points - 150 Basis Points Above Greater Than 150 Basis Points Above Total (in millions) EQUI-VEST Individual 0% - 1.50% $ 345 $ — $ — $ — $ 345 1.51% - 2.50% 46 — — — 46 Greater than 2.50% 2,199 — 62 — 2,261 Total $ 2,590 $ — $ 62 $ — $ 2,652 EQUI-VEST Group 0% - 1.50% $ 109 $ 5 $ 366 $ 3,112 $ 3,592 1.51% - 2.50% 11 2 889 — 902 Greater than 2.50% 6,949 21 330 — 7,300 Total $ 7,069 $ 28 $ 1,585 $ 3,112 $ 11,794 SCS Products with either a fixed rate or no guaranteed minimum N/A N/A N/A N/A N/A Momentum 0% - 1.50% $ 15 $ 301 $ 122 $ 7 $ 445 1.51% - 2.50% 178 1 — — 179 Greater than 2.50% 73 — 5 — 78 Total $ 266 $ 302 $ 127 $ 7 $ 702 The following table reconciles the Separate Account liabilities to the Separate Account liability balance in the consolidated balance sheets: Year Ended December 31, 2023 2022 (in millions) Separate Account Reconciliation VUL 13,694 $ 11,535 GMxB Legacy 33,793 32,616 GMxB Core 27,664 27,017 EQUI-VEST Individual 4,584 4,162 Investment Edge 4,048 3,772 EQUI-VEST Group 26,960 22,393 Momentum 4,421 3,884 Other (1) 6,333 6,100 Total $ 121,497 $ 111,479 _____________ (1) Primarily reflects Corporate and Other products and Employer Sponsored products including Association and Other. The following tables present the balances of and changes in Separate Account liabilities: Year Ended December 31, 2023 VUL GMxB Legacy GMxB Core EQUI-VEST Individual Investment Edge EQUI-VEST Group Momentum (in millions) Balance, beginning of year $ 11,535 $ 32,616 $ 27,017 $ 4,162 $ 3,772 $ 22,393 $ 3,884 Premiums and deposits 788 219 472 93 332 2,174 644 Policy charges (429) (656) (473) (2) — (18) (21) Surrenders and withdrawals (512) (2,826) (2,566) (428) (406) (1,750) (820) Benefit payments (61) (728) (219) (57) (39) (55) (13) Investment performance (1) 2,340 5,164 3,371 818 528 4,463 726 Net transfers from (to) general account 33 4 62 (6) (139) (272) 21 Other charges (2) — — — 4 — 25 — Balance, end of year $ 13,694 $ 33,793 $ 27,664 $ 4,584 $ 4,048 $ 26,960 $ 4,421 Cash surrender value $ 13,682 $ 33,512 $ 26,980 $ 4,549 $ 3,972 $ 26,683 $ 4,414 ______________ (1) Investment performance is reflected net of M&E fees. (2) For the year ended December 31, 2023, EQUI-VEST Individual and EQUI-VEST Group amounts reflect a total special payment applied to the accounts of active clients as part of a previously disclosed settlement agreement between Equitable Financial Life Insurance Company and the Securities & Exchange Commission. Year Ended December 31, 2022 VUL GMxB Legacy GMxB Core EQUI-VEST Individual Investment Edge EQUI-VEST Group Momentum (in millions) Balance, beginning of year $ 14,574 $ 44,912 $ 34,973 $ 5,584 $ 4,287 $ 27,509 $ 4,975 Premiums and deposits 757 240 943 124 1,002 2,104 668 Policy charges (423) (682) (482) (2) (1) (17) (20) Surrenders and withdrawals (380) (2,824) (2,303) (328) (327) (1,359) (753) Benefit payments (102) (702) (215) (52) (34) (60) (14) Investment performance (1) (2,816) (8,323) (6,045) (1,136) (733) (5,481) (918) Net transfers from (to) general account (75) (5) 146 (28) (422) (303) (54) Balance, end of year $ 11,535 $ 32,616 $ 27,017 $ 4,162 $ 3,772 $ 22,393 $ 3,884 Cash surrender value $ 11,555 $ 32,320 $ 26,195 $ 4,129 $ 3,679 $ 22,163 $ 3,879 ______________ (1) Investment performance is reflected net of M&E fees. The following tables present the aggregate fair value of Separate Account assets by major asset category: December 31, 2023 Life Insurance & Employee Benefits Products Individual Variable Annuity Products Employer - Sponsored Products Other Total (in millions) Asset Type Debt securities $ 48 $ 1 $ 21 $ 6 $ 76 Common Stock 65 34 447 1,667 2,213 Mutual Funds 13,557 70,815 32,780 677 117,829 Bonds and Notes 91 4 1 1,283 1,379 Total $ 13,761 $ 70,854 $ 33,249 $ 3,633 $ 121,497 December 31, 2022 Life Insurance & Employee Benefits Products Individual Variable Annuity Products Employer - Sponsored Products Other Total (in millions) Asset Type Debt securities $ 58 $ 1 $ 17 $ 8 $ 84 Common Stock 41 32 430 1,686 2,189 Mutual Funds 11,402 68,220 27,639 760 108,021 Bonds and Notes 119 3 1 1,062 1,185 Total $ 11,620 $ 68,256 $ 28,087 $ 3,516 $ 111,479

LEASES

LEASES	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
LEASES	LEASES The Company’s operating leases primarily consist of real estate leases for office space. The Company also has operating leases for various types of office furniture and equipment. For certain equipment leases, the Company applies a portfolio approach to effectively account for the RoU operating lease assets and liabilities. For lease agreements for which the lease term or classification was reassessed after the occurrence of a change in the lease terms or a modification of the lease that did not result in a separate contract, the Company elected to combine the lease and related non-lease components for its operating leases; however, the non-lease components associated with the Company’s operating leases are primarily variable in nature and as such are not included in the determination of the RoU operating lease asset and lease liability, but are recognized in the period in which the obligation for those payments is incurred. The Company’s operating leases may include options to extend or terminate the lease, which are not included in the determination of the RoU operating asset or lease liability unless they are reasonably certain to be exercised. The Company’s operating leases have remaining lease terms of 1 year to 15 years, some of which include options to extend the leases. The Company typically does not include its renewal options in its lease terms for calculating its RoU operating lease asset and lease liability as the renewal options allow the Company to maintain operational flexibility and the Company is not reasonably certain it will exercise these renewal options until close to the initial end date of the lease. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. As the Company’s operating leases do not provide an implicit rate, the Company’s incremental borrowing rate, based on the information available at the lease commencement date, is used in determining the present value of lease payments. The Company primarily subleases floor space within its New Jersey and New York lease properties to various third parties. The lease term for these subleases typically corresponds to the original lease term. Balance Sheet Classification of Operating Lease Assets and Liabilities December 31, Balance Sheet Line Item 2023 2022 (in millions) Assets Operating lease assets Other assets $ 192 $ 148 Liabilities Operating lease liabilities Other liabilities $ 210 $ 190 The table below summarizes the components of lease costs for the years ended December 31, 2023, 2022 and 2021. Lease Costs Year Ended December 31, 2023 2022 2021 (in millions) Operating lease cost $ 61 $ 77 $ 73 Variable operating lease cost 15 12 10 Sublease income (19) (19) (18) Net lease cost $ 57 $ 70 $ 65 Maturities of lease liabilities as of December 31, 2023 are as follows: Maturities of Lease Liabilities December 31, 2023 (in millions) Operating Leases: 2024 $ 43 2025 39 2026 35 2027 30 2028 27 Thereafter 92 Total lease payments 266 Less: Interest (56) Present value of lease liabilities $ 210 Equitable Financial signed a 15-year lease which commenced in 2023, relating to approximately 89,000 square feet of space in New York City. Additionally, during December 2021, Equitable Financial amended its Syracuse office lease. The amendment included extending for an additional 5-year period, commencing January 1, 2024, approximately 143,000 square feet of space in Syracuse, NY. The below table presents the Company’s weighted-average remaining operating lease term and weighted-average discount rate. Weighted Averages - Remaining Operating Lease Term and Discount Rate December 31, 2023 2022 Weighted-average remaining operating lease term 8 years 4 years Weighted-average discount rate for operating leases 4.30 % 3.00 % Supplemental cash flow information related to leases was as follows: Lease Liabilities Information Year Ended December 31, 2023 2022 2021 (in millions) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 83 $ 92 $ 94 Non-cash transactions: Leased assets obtained in exchange for new operating lease liabilities $ 92 $ 7 $ 26

REINSURANCE

REINSURANCE	12 Months Ended
	Dec. 31, 2023
Reinsurance Disclosures [Abstract]
REINSURANCE	REINSURANCE The Company assumes and cedes reinsurance with other insurance companies. The Company evaluates the financial condition of its reinsurers to minimize its exposure to significant losses from reinsurer insolvencies. Ceded reinsurance does not relieve the originating insurer of liability. The following table summarizes the effect of reinsurance. The impact of the reinsurance transaction described below results in an increase in reinsurance ceded: Year Ended December 31, 2023 2022 2021 (in millions) Direct charges and fee income $ 2,708 $ 2,876 $ 3,125 Reinsurance assumed 13 — — Reinsurance ceded - Equitable America (1,015) — — Reinsurance ceded - third party (611) (651) (563) Policy charges and fee income $ 1,095 $ 2,225 $ 2,562 Direct premiums $ 820 $ 764 $ 762 Reinsurance assumed 175 180 181 Reinsurance ceded - Equitable America (174) — — Reinsurance ceded - third party (234) (219) (193) Premiums $ 587 $ 725 $ 750 Direct policyholders’ benefits $ 2,763 $ 2,800 $ 2,817 Reinsurance assumed 158 180 217 Reinsurance ceded - Equitable America (528) — — Reinsurance ceded - third party (612) (653) (627) Policyholders’ benefits $ 1,781 $ 2,327 $ 2,407 Direct Interest credited to policyholders’ account balances $ 1,963 $ 1,338 $ 1,117 Reinsurance assumed — — — Reinsurance ceded - Equitable America (471) — — Reinsurance ceded - third party (108) (29) (2) Interest credited to policyholders’ account balances $ 1,384 $ 1,309 $ 1,115 Ceded Reinsurance The Company reinsures most of its new variable life, UL and term life policies on an excess of retention basis. The Company generally retains on a per life basis up to $25 million for single lives and $30 million for joint lives with the excess 100% reinsured. The Company also reinsures risk on certain substandard underwriting risks and in certain other cases. On October 3, 2022, as part of the Global Atlantic Transaction, Equitable Financial ceded to First Allmerica Financial Life Insurance Company on a combined coinsurance and modified coinsurance basis, a 50% quota share of approximately 360,000 legacy Group EQUI-VEST deferred variable annuity contracts issued by Equitable Financial between 1980 and 2008. In addition to the above, the Company cedes a portion of its group health, extended term insurance, and paid-up life insurance and substantially all of its individual disability income business through various coinsurance agreements. On May 17, 2023, Equitable Financial entered into a reinsurance agreement with Equitable America, effective April 1, 2023. Pursuant to the Reinsurance Treaty, virtually all of Equitable Financial’s net retained General Account liabilities, including all of its net retained liabilities relating to the living benefit and death riders related to (i) its variable annuity contracts issued outside the State of New York prior to October 1, 2022 (and with respect to its EQUI-VEST variable annuity contracts, issued outside the State of New York prior to February 1, 2023) and (ii) certain universal life insurance policies issued outside the State of New York prior to October 1, 2022, were reinsured to Equitable America on a coinsurance funds withheld basis. See Note 1 to these Consolidated Financial Statements for further details on the transaction. There is a diverse pool of assets supporting the funds withheld and NI modco arrangement with Equitable America. The following table summarizes the composition of the pool of assets: December 31, 2023 Carrying Value Fair Value (in millions) Fixed maturities $ 24,725 $ 24,725 Mortgage loans on real estate 8,405 7,409 Policy loans 248 250 Other equity investments 238 238 Other invested assets 8,256 8,257 Total assets supporting funds withheld $ 41,872 $ 40,879 ______________ (1) Other invested assets includes derivatives and cash and cash equivalents. The impact of the funds withheld and NI modco arrangement with Equitable America was as follows: Year Ended December 31, 2023 (in millions) Net derivative gains (losses): Freestanding derivatives $ 1,944 Embedded derivatives (3,209) Net derivative gains (losses) (1,265) Net investment income (loss) 994 Investment gains (losses), net (245) Income (loss) from continuing operations, before income taxes (516) Income tax (expense) benefit 108 Net income (loss) (408) Change in unrealized gains (losses), net of income taxes 240 Comprehensive income (loss) $ (168) Various assets supporting the Equitable America funds withheld and NI modco arrangement are reported at amortized cost, and as such, changes in fair value of these assets are not reflected in the consolidated financial statements. Assumed Reinsurance In addition to the sale of insurance products, the Company currently acts as a professional retrocessionaire by assuming risk from professional reinsurers. The Company assumes accident, life, health, aviation, special risk and space risks by participating in or reinsuring various reinsurance pools and arrangements. The following table summarizes the ceded purchased market risk benefits, internal reinsurance recoverable and third-party recoverables including amount due to reinsurance and assumed reserves: December 31, 2023 2022 (in millions) Ceded Reinsurance: Estimated net fair values of purchased market risk benefits $ 16,729 $ 10,490 Reinsurance recoverables related to insurance contracts 20,636 7,131 Related party - Equitable America (1) 13,492 — Third parties 7,144 7,131 Top reinsurers: First Allmerica-GAF 3,605 4,005 Venerable Insurance and Annuity Company (A- KBRA (IFRS) rating) 1,057 543 Ceded group health reserves 14 14 Amount due to reinsurers 216 282 Top reinsurers: First Allmerica-GAF 73 147 Assumed Reinsurance: Reinsurance assumed reserves 731 701 ______________ (1) Includes ceded PAB on NI Modco portion of the Reinsurance Treaty of $33.4 billion offset by $(30.3) billion of modco payable for the same portion of the Reinsurance Treaty.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Parties are considered to be related if one party has the ability to control or exercise significant influence over the other party in making financial or operating decisions. Cost Sharing and General Service Agreements Equitable Financial has a general services agreement with Holdings whereby Equitable Financial will benefit from the services received by Holdings and its affiliates. The general services agreement with Holdings replaces existing cost-sharing and general service agreements with various affiliates. Equitable Financial continues to provide services to Holdings and various Affiliates under a separate existing general services agreement with Holdings. Costs allocated to the Company from Holdings totaled $57 million, $75 million and $30 million for the years ended December 31, 2023, 2022 and 2021, respectively, and are allocated based on cost center tracking of expenses. The cost centers are approved annually and are updated based on business area needs throughout the year. Equitable Financial term insurance contracts outside of New York that allow policyholders to convert their policies into permanent life insurance contracts are fulfilled by Equitable America upon conversion. As part of fulfillment Equitable America takes on additional mortality risks, and accordingly is compensated for the expected adverse mortality cost and additional expenses incurred in fulfilling Equitable Financial’s term conversion obligations. Under this agreement that commenced in 2022, Equitable Financial paid Equitable America $24 million and $22 million during the years ended December 31, 2023 and 2022. Investment Management and Service Fees and Expenses EIMG, a subsidiary of Equitable Financial, provides investment management services to EQAT, 1290 Funds and other trusts, all of which are considered related parties. Investment management and service fees earned are calculated as a percentage of assets under management and are recorded as revenue as the related services are performed. Year Ended December 31, 2023 2022 2021 (in millions) Revenue received or accrued for: Investment management and administrative services provided to EQAT and 1290 Funds (1) $ 692 $ 708 $ 757 _____________ (1) For year ended 2021, amounts included fees received from Other AXA Trusts of $3 million . On June 22, 2021, Holdings completed the formation of EIM LLC, a wholly owned indirect subsidiary of Holdings. Effective August 1, 2021, following the formation of EIM LLC, EIMG terminated, and EIM LLC entered into, certain administrative agreements with separate accounts held by the Company. In addition, on October 1, 2021, the Company entered into an investment advisory and management agreement in which EIM LLC became the investment manager for the Company’s general account portfolio. The Company recorded investment management fee expense from EIM LLC of $185 million and $92 million for the years ended December 31, 2023 and 2022, respectively. AB provides investment management and related services to various funds held by the Company. The Company recorded investment management fee expense from AB of $46 million, $44 million, and $102 million for the years ended December 31, 2023, 2022 and 2021, respectively. Distribution Revenue and Expenses with Affiliates Equitable Distributors receives commissions and fee revenue from Equitable America for sales of its insurance products. The commissions and fees earned from Equitable America are based on the various selling agreements. Year Ended December 31, 2023 2022 2021 (in millions) Revenue received or accrued for: Amounts received or accrued for commissions and fees earned for sale of Equitable America’s insurance products $ 332 $ 82 $ 38 Equitable Financial pays commissions and fees to Equitable Distribution Holding Corporation and its subsidiaries (“Equitable Distribution”) for sales of insurance products. The commissions and fees paid to Equitable Distribution are based on various selling agreements. Year Ended December 31, 2023 2022 2021 (in millions) Expenses paid or accrued for: Paid or accrued commission and fee expenses for sale of insurance products by Equitable Network $ 612 $ 718 $ 712 Insurance-Related Transactions with Affiliates The reinsurance arrangements with EQ AZ Life Re provide important capital management benefits to Equitable Financial. As of December 31,2023 and 2022, the Company’s GMIB reinsurance contract asset with EQ AZ Life Re had carrying values of $0 and $77 million and is reported in GMIB contract reinsurance asset, at fair value in the consolidated balance sheets. Ceded premiums and policy fee income in 2023, 2022 and 2021 totaled approximately $51 million, $48 million and $48 million, respectively. Ceded claims paid in 2023, 2022 and 2021 were $63 million, $105 million and $93 million, respectively. Investments in Unconsolidated Equity Interests in Affiliates AB VIEs As of December 31, 2023 and 2022, respectively, the Company held approximately $326 million and $331 million of invested assets in the form of equity interests issued in non-corporate legal entities that were determined by the Company to be VIEs, as further described in Note 2 of the Notes to these Consolidated Financial Statements. These legal entities are related parties of Equitable Financial. The Company reflects these equity interests in the consolidated balance sheets as other equity investments. The net assets of these unconsolidated VIEs are approximately $2.6 billion and $771 million as of December 31, 2023 and 2022, respectively. The Company also has approximately $37 million and $74 million of unfunded commitments as of December 31, 2023 and 2022, respectively with these legal entities. Loans Issued to Holdings In June 2021, Equitable Life made a $1.0 billion 10-year term loan to Holdings. The loan has an interest rate of 3.23% and matures in June 2031. As of December 31, 2023 and 2022, the amount outstanding was $1.0 billion. In November 2019, Equitable Financial made a $900 million loan to Holdings. The loan has an interest rate of one-month LIBOR plus 1.33%. The loan matures on November 24, 2024. As of December 31, 2023 and 2022, the amount outstanding was $900 million.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Equitable Financial sponsors the following employee benefit plans: 401(k) Plan Equitable Financial sponsors the Equitable 401(k) Plan, a qualified defined contribution plan for eligible employees and financial professionals. The plan provides for a company contribution, a company matching contribution and a discretionary profit-sharing contribution. Expenses associated with this 401(k) Plan were $38 million, $17 million and $29 million for the years ended December 31, 2023, 2022 and 2021, respectively. Pension Plan Equitable Financial sponsors the Equitable Retirement Plan (the “ Equitable Financial QP”), a frozen qualified defined benefit pension plan covering its eligible employees and financial professionals. This pension plan is non-contributory, and its benefits are generally based on a cash balance formula and/or, for certain participants, years of service and average earnings over a specified period in the plan. Effective December 31, 2015, primary liability for the obligations of Equitable Financial under the Equitable Financial QP was transferred from Equitable Financial to AXA Financial, and upon the merger of AXA Financial into Holdings, Holdings assumes primary liability under terms of an Assumption Agreement. Equitable Financial remains secondarily liable for its obligations under the Equitable Financial QP and would recognize such liability in the event Holdings does not perform. The Equitable Financial QP is not governed by a collective-bargaining agreement and is not under a financial improvement plan or a rehabilitation plan. For the years ended December 31, 2023, 2022 and 2021, (income)/expenses related to the plan were $(23) million, $(25) million and $(12) million, respectively. The following table presents the funded status of the plan: December 31, 2023 2022 (in millions) Equitable Retirement Plan Total plan assets $ 1,796 $ 1,801 Accumulated benefit obligation $ 1,584 $ 1,614 Funded status 113.4 % 111.6 % Other Benefit Plans Equitable Financial also sponsors a non-qualified retirement plan, a medical and life retiree plan, a post-employment plan and deferred compensation plan. The expenses related to these plans were $39 million, $22 million and $23 million for the years ended December 31, 2023, 2022 and 2021, respectively.

SHARE-BASED COMPENSATION PROGRA

SHARE-BASED COMPENSATION PROGRAMS	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION PROGRAMS	SHARE-BASED COMPENSATION PROGRAMS Compensation costs for years ended December 31, 2023, 2022 and 2021 for share-based payment arrangements as further described herein are as follows: Year Ended December 31, 2023 2022 2021 (in millions) Performance Shares $ 12 $ 25 $ 12 Stock Options — 1 — Restricted Stock Unit Awards 31 35 27 Total Compensation Expenses $ 43 $ 61 $ 39 Income Tax Benefit $ 5 $ 12 $ 8 Since 2018, Holdings has granted equity awards under the Equitable Holdings, Inc. 2018 Omnibus Incentive Plan and the Equitable Holdings, Inc. 2019 Omnibus Incentive Plan (together the “Omnibus Plans”) which were adopted by Holdings on April 25, 2018 and February 28, 2019 respectively. Awards under the Omnibus Plans are linked to Holdings’ common stock. As of December 31, 2023, the common stock reserved and available for issuance under the Omnibus Plans was 18 million shares. Holdings may issue new shares or use common stock held in treasury for awards linked to Holdings’ common stock. Equitable Financial’s Participation in Holdings’ Equity Award Plans Equitable Financial’s employees, financial professionals and directors in 2019 and 2018 were granted equity awards under the Omnibus Plans with the exception of the Holdings restricted stock units (“Holdings RSUs”) granted to financial professionals in 2018. All grants discussed in this section will be settled in shares of Holdings’ common stock except for the RSUs granted to financial professionals in 2019 and 2018 which will be settled in cash. For awards with graded vesting schedules and service-only vesting conditions, including Holdings RSUs and other forms of share-based payment awards, Holdings applies a straight-line expense attribution policy for the recognition of compensation cost. Actual forfeitures with respect to the 2023, 2022 and 2021 grants were considered immaterial in the recognition of compensation cost. Annual Awards Each year, the Compensation Committee of the Holdings’ Board of Directors approves an equity-based award program with awards under the program granted at its regularly scheduled meeting in February. Annual awards under Holdings’ equity programs for 2023, 2022 and 2021 consisted of a mix of equity vehicles including Holdings RSUs, Holdings stock options and Holdings performance shares. If Holdings pays any ordinary dividend in cash, all outstanding Holdings RSUs and performance shares will accrue dividend equivalents in the form of additional Holdings RSUs or performance shares to be settled or forfeited consistent with the terms of the related award. Holdings RSUs Holdings RSUs granted to Equitable Financial employees vest ratably in equal annual installments over a three-year period. The fair value of the awards was measured using the closing price of the Holdings share on the grant date, and the resulting compensation expense will be recognized over the shorter of the vesting term or the period up to the date at which the participant becomes retirement eligible, but not less than one year. Holdings Stock Options Holdings stock options granted to Equitable Financial employees have a three-year graded vesting schedule, with one-third vesting on each of the three anniversaries. The total grant date fair value of Holdings stock options will be charged to expense over the shorter of the vesting period or the period up to the date at which the participant becomes retirement eligible, but not less than one year. Holdings Performance Shares Holdings performance shares granted to Equity Financial employees are subject to performance conditions and a three-year cliff-vesting. The performance shares consist of two distinct tranches; one based on Holding’s return-on-equity targets (the “ROE Performance Shares”) and the other based on the Holdings’ relative total shareholder return targets (the “TSR Performance Shares”), each comprising approximately one-half of the award. Participants may receive from 0% to 200% of the unearned performance shares granted. The grant-date fair value of the ROE Performance Shares is established once all of Holdings’ applicable Non-GAAP ROE targets are determined and approved. The fair value of the awards was measured using the closing price of the Holdings share on the grant date. The grant-date fair value of the TSR Performance Shares was measured using a Monte Carlo approach. Under the Monte Carlo approach, stock returns were simulated for Holdings and the selected peer companies to estimate the payout percentages established by the conditions of the award. The aggregate grant-date fair value of the unearned TSR Performance Shares will be recognized as compensation expense over the shorter of the cliff-vesting period or the period up to the date at which the participant becomes retirement eligible, but not less than one year. Director Awards Holdings makes annual grants of unrestricted Holdings shares to non-employee directors of Holdings and Equitable Financial. The fair value of these awards was measured using the closing price of Holdings shares on the grant date. These awards immediately vest and all compensation expense is recognized at the grant date. Prior Equity Award Grants In 2017 and prior years, equity awards for employees, financial professional and directors in our businesses were available under the umbrella of AXA’s global equity program. Accordingly, equity awards granted in 2017 and prior years were linked to AXA’s stock. The fair values of these prior awards are measured at the grant date by reference to the closing price of the AXA ordinary share, and the result, as adjusted for achievement of performance targets and pre-vesting forfeitures, generally is attributed over the shorter of the requisite service period, the performance period, if any, or to the date at which retirement eligibility is achieved and subsequent service no longer is required for continued vesting of the award. Summary of Stock Option Activity A summary of activity in the AXA and Holdings option plans during 2023 as follows: Options Outstanding EQH Shares AXA Ordinary Shares Number Outstanding (In 000’s) Weighted Average Exercise Price Number Outstanding (In 000’s) Weighted Average Exercise Price Options Outstanding at January 1, 2023 1,590 $ 21.72 559 € 22.92 Options granted — — — — Options exercised (155) 20.17 (232) 23.49 Options forfeited, net — — — — Options expired — — — — Options Outstanding at December 31, 2023 1,435 $ 21.92 327 € 22.52 Aggregate intrinsic value (1) $ 16,333 € 2,283 Weighted average remaining contractual term (in years) 5.57 3.26 Options Exercisable at December 31, 2023 1,435 $ 21.92 297 € 22.61 Aggregate intrinsic value (1) $ 16,333 € 2,041 Weighted average remaining contractual term (in years) 5.57 3.11 ____________ (1) Aggregate intrinsic value, presented in thousands, is calculated as the excess of the closing market price on December 31, 2023 of the respective underlying shares over the strike prices of the option awards. For awards with strike prices higher than market prices, intrinsic value is shown as zero. During years ended December 31, 2023, 2022, and 2021, there were no stock options granted. Summary of Restricted Stock Unit Award Activity The market price of a Holdings share is used as the basis for the fair value measure of a Holdings RSU. For purposes of determining compensation cost for stock-settled Holdings RSUs, fair value is fixed at the grant date until settlement, absent modification to the terms of the award. For liability-classified cash-settled Holdings and AXA RSUs, fair value is remeasured at the end of each reporting period. As of December 31, 2023, approximately 2.2 million Holdings RSUs awards remain unvested. Unrecognized compensation cost related to these awards totaled approximately $26 million and is expected to be recognized over a weighted-average period of 1.6 years. The following table summarizes Holdings restricted share units activity for 2023. Shares of Holdings Restricted Stock Weighted Average Grant Date Unvested, beginning of year 1,944,969 $ 29.78 Granted 1,120,750 32.23 Forfeited (105,186) 31.47 Vested (743,313) 26.98 Unvested as of December 31, 2023 2,217,220 $ 32.34 Summary of Performance Award Activity As of December 31, 2023, approximately 1.1 million Holdings remain unvested. Unrecognized compensation cost related to these awards totaled approximately $8 million and is expected to be recognized over a weighted-average period of 1.6 years. The following table summarizes Holdings performance awards activity for 2023. Shares of Holdings Performance Awards Weighted-Average Grant Date Unvested, beginning of year 1,071,369 $ 32.98 Granted 350,303 39.07 Forfeited (1,263) 29.00 Vested (361,081) 29.08 Unvested as of December 31, 2023 1,059,328 $ 36.32

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES A summary of the income tax (expense) benefit in the consolidated statements of income (loss) follows: Year Ended December 31, 2023 2022 2021 (in millions) Income tax (expense) benefit: Current (expense) benefit $ (31) $ 32 $ 11 Deferred (expense) benefit 1,261 (420) (203) Total $ 1,230 $ (388) $ (192) The Federal income taxes attributable to consolidated operations are different from the amounts determined by multiplying the earnings before income taxes and noncontrolling interest by the expected Federal income tax rate of 21%. The sources of the difference and their tax effects are as follows: Year Ended December 31, 2023 2022 2021 (in millions) Expected income tax (expense) benefit $ 226 $ (417) $ (273) Non-taxable investment income 62 50 79 Tax audit interest (22) (13) (14) Tax credits 12 17 28 Deferred tax adjustment — (21) — Valuation Allowance 963 — — Other (11) (4) (12) Income tax (expense) benefit $ 1,230 $ (388) $ (192) The components of the net deferred income taxes are as follows: December 31, 2023 2022 Assets Liabilities Assets Liabilities (in millions) Compensation and related benefits $ 62 $ — $ 62 $ — Net operating loss and credits 1,455 — 505 — Reserves and reinsurance 314 — 986 — DAC — 797 — 789 Unrealized investment gains (losses) 1,412 — 1,910 — Investments 872 — 451 — Other 50 — 108 — Valuation allowance (217) — (1,489) — Total $ 3,948 $ 797 $ 2,533 $ 789 During the fourth quarter of 2022, the Company established a valuation allowance of $1.5 billion against its deferred tax asset related to unrealized capital losses in the available for sale securities portfolio. Due to the potential need for liquidity in a macro stress environment the Company was not able to assert that it would hold the underlying securities to recovery. Adjustments to the valuation allowance due to changes in the portfolio’s unrealized capital loss are recorded in other comprehensive income. Adjustments to the valuation allowance due to new facts or evidence are recorded in net income. As of each reporting date, management considers new evidence, both positive and negative, that could affect its view of the future realization of deferred tax assets. During the year ended December 31, 2023, management took actions to increase its available liquidity so that the Company has the ability and intent to hold the majority of securities in its available for sale portfolio to recovery.For liquidity and other purposes, the Company maintains a smaller pool of securities that it does not intend to hold to recovery. Based on all available evidence, as of December 31, 2023 the Company concluded that the deferred tax asset related to unrealized tax capital losses on securities that the Company intends to hold to recovery is more-likely-than-not to be realized and a valuation allowance is not necessary.The company maintains a valuation allowance against the deferred tax asset on available for sale securities that will not be held to recovery. For the year ended December 31, 2023, the Company recorded a decrease to the valuation allowance of $310 million in other comprehensive income. For the year ended December 31, 2023, the Company recorded a decrease to the valuation allowance of $963 million in net income. A valuation allowance of $217 million remains against the portion of the deferred tax asset that is still not more-likely-than-not to be realized. The Company uses the aggregate portfolio approach related to the stranded or disproportionate income tax effects in accumulated other comprehensive income related to available for sale securities. Under this approach, the disproportionate tax effect remains intact as long as the investment portfolio remains. The Company has Federal net operating loss carryforwards of $6.2 billion and $2.3 billion for the years ending December 31, 2023 and 2022, respectively which do not expire. A reconciliation of unrecognized tax benefits (excluding interest and penalties) follows: Year Ended December 31, 2023 2022 2021 (in millions) Balance at January 1, $ 295 $ 295 $ 281 Additions for tax positions of prior years 7 — 17 Reductions for tax positions of prior years — — (3) Additions for tax positions of current year — — — Settlements with tax authorities — — — Balance at December 31, $ 302 $ 295 $ 295 Unrecognized tax benefits that, if recognized, would impact the effective rate $ 43 $ 43 $ 43 The Company recognizes accrued interest and penalties related to unrecognized tax benefits in tax expense. Interest and penalties included in the amounts of unrecognized tax benefits as of December 31, 2023 and 2022 were $83 million and $61 million, respectively. For 2023, 2022 and 2021, respectively, there were $23 million, $13 million and $14 million in interest expense (benefit) related to unrecognized tax benefits. It is reasonably possible that the total amount of unrecognized tax benefits will change within the next 12 months due to the conclusion of IRS proceedings and the addition of new issues for open tax years. The possible change in the amount of unrecognized tax benefits cannot be estimated at this time. As of December 31, 2023, tax years 2014 and subsequent remain subject to examination by the IRS.

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
EQUITY	EQUITY AOCI represents cumulative gains (losses) on items that are not reflected in net income (loss). The balances of AOCI were as follows: December 31, December 31, 2023 2022 (in millions) Unrealized gains (losses) on investments $ (6,363) $ (8,873) Market risk benefits - instrument-specific credit risk component (764) 665 Liability for future policy benefits - current discount rate component 194 357 Defined benefit pension plans (5) (4) Accumulated other comprehensive income (loss) attributable to Equitable Financial $ (6,938) $ (7,855) The components of OCI, net of taxes were as follows: Year Ended December 31, 2023 2022 2021 (in millions) Change in net unrealized gains (losses) on investments: Net unrealized gains (losses) arising during the period (1) $ 1,692 $ (12,915) $ (2,293) (Gains) losses reclassified into net income (loss) during the period (2) 515 700 (686) Net unrealized gains (losses) on investments (1) 2,207 (12,215) (2,979) Adjustments for policyholders’ liabilities, insurance liability loss recognition and other (32) 755 476 Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $186 , $(1,162)and $(665)) 2,175 (11,460) (2,503) Change in LFPB discount rate and MRB credit risk, net of tax Market risk benefits - change in instrument-specific credit risk (net of deferred income tax expense (benefit) of $(300), $331, and $13) (1,129) 1,247 51 Liability for future policy benefits - change in current discount rate (net of deferred income tax expense (benefit) of $(34), $277 and $71 ) (128) 1,042 267 Change in defined benefit plans: Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost (3) (1) — — Change in defined benefit plans (net of deferred income tax expense (benefit) of $0,$0 and $0) (1) — — Other comprehensive income (loss) attributable to Equitable Financial 917 (9,171) (2,185) Cumulative effect of adoption of ASU 2018-02, Long Duration Targeted Improvements (net of deferred income tax expense (benefit) of $—, $—, $(291) $ — — $ (1,094) Change in accumulated other comprehensive income (loss) attributable to Equitable Financial $ 917 $ (9,171) $ (3,279) ______________ (1) For 2022, unrealized gains (losses) arising during the period is presented net of a valuation allowance of $1.5 billion established during the fourth quarter of 2022. The Company established the valuation allowance against its deferred tax assets related to unrealized capital losses in the available for sale securities portfolio.A valuation allowance of $217 million remains against the portion of the deferred tax asset that is still not more-likely-than-not to be realized. See Note 16 of the Notes to these Consolidated Financial Statements for details on the valuation allowance. (2) See “Reclassification adjustment” in Note 3 of the Notes to these Consolidated Financial Statements. Reclassification amounts presented net of income tax expense (benefit) of $137 million, $186 million, and $182 million for the years ended December 31, 2023, 2022 and 2021, respectively. (3) These AOCI components are included in the computation of net periodic costs. See Note 14 of the Notes to these Consolidated Financial Statements. Investment gains and losses reclassified from AOCI to net income (loss) primarily consist of realized gains (losses) on sales and credit losses of AFS securities and are included in total investment gains (losses), net on the consolidated statements of income (loss). Amounts reclassified from AOCI to net income (loss) as related to defined benefit plans primarily consist of amortization of net (gains) losses and net prior service cost (credit) recognized as a component of net periodic cost and reported in compensation and benefits in the consolidated statements of income (loss). Amounts presented in the table above are net of tax.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES Litigation and Regulatory Matters Litigation, regulatory and other loss contingencies arise in the ordinary course of the Company’s activities as a diversified financial services firm. The Company is a defendant in a number of litigation matters arising from the conduct of its business. In some of these matters, claimants seek to recover very large or indeterminate amounts, including compensatory, punitive, treble and exemplary damages. Modern pleading practice permits considerable variation in the assertion of monetary damages and other relief. Claimants are not always required to specify the monetary damages they seek, or they may be required only to state an amount sufficient to meet a court’s jurisdictional requirements. Moreover, some jurisdictions allow claimants to allege monetary damages that far exceed any reasonably possible verdict. The variability in pleading requirements and past experience demonstrates that the monetary and other relief that may be requested in a lawsuit or claim often bears little relevance to the merits or potential value of a claim. Litigation against the Company includes a variety of claims including, among other things, insurers’ sales practices, alleged agent misconduct, alleged failure to properly supervise agents, contract administration, product design, features and accompanying disclosure, cost of insurance increases, payments of death benefits and the reporting and escheatment of unclaimed property, alleged breach of fiduciary duties, alleged mismanagement of client funds and other matters. The outcome of a litigation or regulatory matter is difficult to predict, and the amount or range of potential losses associated with these or other loss contingencies requires significant management judgment. It is not possible to predict the ultimate outcome or to provide reasonably possible losses or ranges of losses for all pending regulatory matters, litigation and other loss contingencies. While it is possible that an adverse outcome in certain cases could have a material adverse effect upon the Company’s financial position, based on information currently known, management believes that neither the outcome of pending litigation and regulatory matters, nor potential liabilities associated with other loss contingencies, are likely to have such an effect. However, given the large and indeterminate amounts sought in certain litigation and the inherent unpredictability of all such matters, it is possible that an adverse outcome in certain of the Company’s litigation or regulatory matters, or liabilities arising from other loss contingencies, could, from time to time, have a material adverse effect upon the Company’s results of operations or cash flows in a particular quarterly or annual period. For some matters, the Company is able to estimate a range of loss. For such matters in which a loss is probable, an accrual has been made. For matters where the Company believes a loss is reasonably possible, but not probable, no accrual is required. For matters for which an accrual has been made, but there remains a reasonably possible range of loss in excess of the amounts accrued or for matters where no accrual is required, the Company develops an estimate of the unaccrued amounts of the reasonably possible range of losses. As of December 31, 2023, the Company estimates the aggregate range of reasonably possible losses, in excess of any amounts accrued for these matters as of such date, to be up to approximately $150 million. For other matters, the Company is currently not able to estimate the reasonably possible loss or range of loss. The Company is often unable to estimate the possible loss or range of loss until developments in such matters have provided sufficient information to support an assessment of the range of possible loss, such as quantification of a damage demand from plaintiffs, discovery from plaintiffs and other parties, investigation of factual allegations, rulings by a court on motions or appeals, analysis by experts and the progress of settlement discussions. On a quarterly and annual basis, the Company reviews relevant information with respect to litigation and regulatory contingencies and updates the Company’s accruals, disclosures and reasonably possible losses or ranges of loss based on such reviews. In February 2016, a lawsuit was filed in the Southern District of New York entitled Brach Family Foundation, Inc. v. AXA Equitable Life Insurance Company. This lawsuit is a putative class action brought on behalf of all owners of UL policies subject to Equitable Financial’s COI rate increase. In early 2016, Equitable Financial raised COI rates for certain UL policies issued between 2004 and 2008, which had both issue ages 70 and above and a current face value amount of $1 million and above. A second putative class action was filed in the District of Arizona in 2017 and consolidated with the Brach matter in federal court in New York. The consolidated amended class action complaint alleged the following claims: breach of contract; misrepresentations in violation of Section 4226 of the New York Insurance Law; violations of New York General Business Law Section 349; and violations of the California Unfair Competition Law, and the California Elder Abuse Statute. Plaintiffs sought: (a) compensatory damages, costs, and, pre- and post-judgment interest; (b) with respect to their claim concerning Section 4226, a penalty in the amount of premiums paid by the plaintiffs and the putative class; and (c) injunctive relief and attorneys’ fees in connection with their statutory claims. In August 2020, the federal district court issued a decision certifying nationwide breach of contract and Section 4226 classes, and a New York State Section 349 class. Owners of a substantial number of policies opted out of the Brach class action. Most have settled pre-litigation, but a minority of opt-out policies are not yet the subject of litigation. Others filed suit previously, including three pending individual federal actions that were coordinated with the Brach action and contained similar allegations. In May 2023, the Brach class action and Equitable Financial informed the federal district court that they had mutually agreed to settle the class action, and in October 2023, the federal district court entered an order of final approval of the settlement agreement. Equitable Financial is fully accrued for the class settlement, which will have no impact on earnings or distributable cash projections. In October 2023, Equitable Financial and the three plaintiffs with individual federal actions coordinated with the Brach action informed the court that they had reached a settlement, and those actions were dismissed. Equitable Financial is likewise fully accrued for those individual settlements, which will have no impact on earnings or distributable cash projections. Equitable Financial has settled other actual and threatened litigations challenging the COI increase by individual policy owners and entities. Finally, two actions are also pending against Equitable Financial in New York State Court. In July 2022, the trial court in one of the New York State Court actions, Hobish v. AXA Equitable Life Insurance Company, granted in significant part Equitable Financial’s motion for summary judgment and denied plaintiff’s cross motion. That plaintiff appealed but its appeal was denied by the state appellate court. Equitable Financial is vigorously defending each of these matters. Obligations under Funding Agreements FHLB As a member of the FHLB, Equitable Financial has access to collateralized borrowings. It also may issue funding agreements to the FHLB. Both the collateralized borrowings and funding agreements would require Equitable Financial to pledge qualified mortgage-backed assets and/or government securities as collateral. Equitable Financial issues short-term funding agreements to the FHLB and uses the funds for asset, liability, and cash management purposes. Equitable Financial issues long-term funding agreements to the FHLB and uses the funds for spread lending purposes. Entering into FHLB membership, borrowings and funding agreements requires the ownership of FHLB stock and the pledge of assets as collateral. Equitable Financial has purchased FHLB stock of $357 million and pledged collateral with a carrying value of $10.3 billion as of December 31, 2023. Funding agreements are reported in policyholders’ account balances in the consolidated balance sheets. For other instruments used for asset/liability and cash management purposes, see “Offsetting of Financial Assets and Liabilities and Derivative Instruments” included in Note 4 of the Notes to these Consolidated Financial Statements. The table below summarizes the Company’s activity of funding agreements with the FHLB. Change in FHLB Funding Agreements during the Year Ended December 31, 2023 Outstanding Balance at December 31, 2022 Issued During the Period Repaid During the Period Long-term Agreements Maturing Within One Year Long-term Agreements Maturing Within Five Years Outstanding Balance at December 31, 2023 (in millions) Short-term funding agreements: Due in one year or less $ 6,130 $ 59,957 $ (60,843) $ 924 $ — $ 6,168 Long-term funding agreements: Due in years two through five 1,679 — — (880) — 799 Due in more than five years 692 — — (44) — 648 Total long-term funding agreements 2,371 — — (924) — 1,447 Total funding agreements (1) $ 8,501 $ 59,957 $ (60,843) $ — $ — $ 7,615 ____________ (1) The $3 million and $4 million difference between the funding agreements carrying value shown in fair value table for December 31, 2023 and 2022, respectively, reflects the remaining amortization of a hedge implemented and closed, which locked in the funding agreements borrowing rates. FABN Under the FABN program, Equitable Financial may issue funding agreements in U.S. dollar or foreign currencies to a Delaware special purpose statutory trust (the “Trust”) in exchange for the proceeds from issuances of fixed and floating rate medium-term marketable notes issued by the Trust from time to time (the “Trust Notes”). The funding agreements have matching interest, maturity and currency payment terms to the applicable Trust Notes. The Company hedges the foreign currency exposure of foreign currency denominated funding agreements using cross currency swaps as discussed in Note 4 of the Notes to these Consolidated Financial Statements. As of December 31, 2023, the maximum aggregate principal amount of Trust Notes permitted to be outstanding at any one time is $10.0 billion. Funding agreements issued to the Trust, including any foreign currency transaction adjustments, are reported in policyholders’ account balances in the consolidated balance sheets. Foreign currency transaction adjustments to policyholder’s account balances are recognized in net income (loss) as an adjustment to interest credited to policyholders’ account balances and are offset in interest credited to policyholders’ account balances by a release of AOCI from deferred changes in fair value of designated and qualifying cross currency swap cash flow hedges. The table below summarizes Equitable Financial’s activity of funding agreements under the FABN program. Change in FABN Funding Agreements during the Year Ended December 31, 2023 Outstanding Balance at December 31, 2022 Issued During the Period Repaid During the Period Long-term Agreements Maturing Within One Year Long-term Agreements Maturing Within Five Years Foreign Currency Transaction Adjustment Outstanding Balance at December 31, 2023 (in millions) Short-term funding agreements: Due in one year or less $ 1,500 $ — $ (1,500) $ 1,000 $ — $ — $ 1,000 Long-term funding agreements: Due in years two through five 4,000 671 — (1,000) 1,285 28 4,984 Due in more than five years 1,585 — — — (1,285) — 300 Total long-term funding agreements 5,585 671 — (1,000) — 28 5,284 Total funding agreements (1) $ 7,085 $ 671 $ (1,500) $ — $ — $ 28 $ 6,284 ______________ (1) The $17 million and $66 million difference between the funding agreements notional value shown and carrying value table as of December 31, 2023 and 2022, respectively, reflects the remaining amortization of the issuance cost of the funding agreements and the foreign currency transaction adjustment. FABCP Program In May 2023, the Company established a funding agreement-backed commercial paper program (the “FABCP Program”), pursuant to which a special purpose limited liability company (the “SPLLC”) may issue commercial paper and deposit the proceeds with the Company pursuant to a funding agreement issued by the Company to the SPLLC. The current maximum aggregate principal amount permitted to be outstanding at any one time under the FABCP Program is $3.0 billion. The Company had $948 million outstanding as of December 31, 2023. Guarantees and Other Commitments The Company provides certain guarantees or commitments to affiliates and others. As of December 31, 2023, these arrangements include commitments by the Company to provide equity financing of $1.2 billion to certain limited partnerships and real estate joint ventures under certain conditions. Management believes the Company will not incur material losses as a result of these commitments. The Company had $17 million of undrawn letters of credit related to reinsurance as of December 31, 2023. The Company had $751 million of commitments under existing mortgage loan agreements as of December 31, 2023. The Company is the obligor under certain structured settlement agreements it had entered into with unaffiliated insurance companies and beneficiaries. To satisfy its obligations under these agreements, the Company owns single premium annuities issued by previously wholly-owned life insurance subsidiaries. The Company has directed payment under these annuities to be made directly to the beneficiaries under the structured settlement agreements. A contingent liability exists with respect to these agreements should the previously wholly-owned subsidiaries be unable to meet their obligations. Management believes the need for the Company to satisfy those obligations is remote.

INSURANCE STATUTORY FINANCIAL I

INSURANCE STATUTORY FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2023
Insurance, Statutory Financial Information [Abstract]
INSURANCE STATUTORY FINANCIAL INFORMATION	LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS The following table reconciles the net liability for future policy benefits and liability of death benefits to the liability for future policy benefits in the consolidated balance sheets: December 31, 2023 December 31, 2022 (in millions) Reconciliation Term $ 1,341 $ 1,359 Payout - Non-Legacy 844 828 Payout - Legacy 3,620 2,689 Group Pension - Benefit Reserve & DPL 490 523 Health 1,505 1,560 UL 1,220 1,119 Subtotal 9,020 8,078 Whole Life Closed Block and Open Block products 5,463 5,687 Other (1) 657 608 Future policyholder benefits total 15,140 14,373 Other policyholder funds and dividends payable 1,433 1,562 Total $ 16,573 $ 15,935 ______________ (1) Primarily consists of future policy benefits related to Assumed Life and Disability, Group Life Run off, Variable Interest Sensitive Life rider and Major Medical products. The following table summarizes balances and changes in the liability for future policy benefits for nonparticipating traditional and limited pay contracts: Year Ended December 31, 2023 Year Ended December 31, 2022 Term Payout - Non-Legacy Payout-Legacy Group Pension Health Term Payout-Non-Legacy Payout-Legacy Group Pension Health (in millions) Present Value of Expected Net Premiums Balance, beginning of year $ 2,090 $ — $ — $ — $ (6) $ 2,472 $ — $ — $ — $ 22 Beginning balance at original discount rate 2,069 — — — (6) 1,854 — — — 19 Effect of changes in cash flow assumptions 47 — — — (6) 204 — — — (10) Effect of actual variances from expected experience (36) — — — (12) 30 — — — (16) Adjusted beginning of period balance 2,080 — — — (24) 2,088 — — — (7) Issuances 64 — — — — 76 — — — — Year Ended December 31, 2023 Year Ended December 31, 2022 Term Payout - Non-Legacy Payout-Legacy Group Pension Health Term Payout-Non-Legacy Payout-Legacy Group Pension Health (in millions) Interest accrual 100 — — — (1) 97 — — — — Net premiums collected (194) — — — 3 (192) — — — 1 Ending Balance at original discount rate 2,051 — — — (22) 2,069 — — — (6) Effect of changes in discount rate assumptions 74 — — — 1 21 — — — — Balance, end of year $ 2,125 $ — $ — $ — $ (21) $ 2,090 $ — $ — $ — $ (6) Present Value of Expected Future Policy Benefits Balance, beginning of period $ 3,449 $ 828 $ 2,689 $ 523 $ 1,554 $ 4,274 $ 1,114 $ 2,547 $ 683 $ 2,092 Beginning balance of original discount rate 3,376 845 3,024 583 1,795 3,225 883 2,400 632 1,915 Effect of changes in cash flow assumptions 59 — — — (6) 221 (2) (2) — (5) Effect of actual variances from expected experience (43) — (3) — (22) 30 (1) (3) 1 (13) Adjusted beginning of period balance 3,392 845 3,021 583 1,767 3,476 880 2,395 633 1,897 Issuances 70 47 996 — — 83 23 758 — — Interest accrual 166 39 88 19 57 166 40 63 21 61 Benefits payments (311) (91) (265) (66) (152) (349) (98) (192) (71) (163) Ending balance at original discount rate 3,317 840 3,840 536 1,672 3,376 845 3,024 583 1,795 Effect of changes in discount rate assumptions 149 4 (220) (46) (188) 73 (17) (335) (60) (241) Balance, end of period $ 3,466 $ 844 $ 3,620 $ 490 $ 1,484 $ 3,449 $ 828 $ 2,689 $ 523 $ 1,554 Net liability for future policy benefits $ 1,341 $ 844 $ 3,620 $ 490 $ 1,505 $ 1,359 $ 828 $ 2,689 $ 523 $ 1,560 Less: Reinsurance recoverable (210) (29) (1,309) — (1,191) (209) — (466) 1 (1,242) Net liability for future policy benefits, after reinsurance recoverable $ 1,131 $ 815 $ 2,311 $ 490 $ 314 $ 1,150 $ 828 $ 2,223 $ 524 $ 318 Weighted-average duration of liability for future policyholder benefits (years) 7.0 9.3 7.7 7.1 8.7 7.0 9.5 8.1 7.2 8.7 The following table provides the amount of undiscounted and discounted expected gross premiums and expected future benefits and expenses related to nonparticipating traditional and limited payment contracts: December 31, 2023 December 31, 2022 (in millions) Term Expected future benefit payments and expenses (undiscounted) $ 5,860 $ 6,002 December 31, 2023 December 31, 2022 (in millions) Expected future gross premiums (undiscounted) 6,956 7,245 Expected future benefit payments and expenses (discounted) 3,466 3,449 Expected future gross premiums (discounted) 3,862 3,883 Payout-Legacy Expected future benefit payments and expenses (undiscounted) 5,204 3,947 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 3,538 2,607 Expected future gross premiums (discounted) — — Payout-Non-Legacy Expected future benefit payments and expenses (undiscounted) 1,426 1,460 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 812 801 Expected future gross premiums (discounted) — — Group Pension Expected future benefit payments and expenses (undiscounted) 668 730 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 471 563 Expected future gross premiums (discounted) — — Health Expected future benefit payments and expenses (undiscounted) 2,318 2,510 Expected future gross premiums (undiscounted) 85 99 Expected future benefit payments and expenses (discounted) 1,468 1,533 Expected future gross premiums (discounted) $ 68 $ 78 The table below summarizes the revenue and interest related to nonparticipating traditional and limited payment contracts: Year Ended December 31, Year Ended December 31, 2023 2022 2021 2023 2022 2021 Gross Premium Interest Accretion (in millions) Revenue and Interest Accretion Term $ 349 $ 229 $ 239 $ 67 $ 70 $ 75 Payout - Legacy 220 101 106 109 63 $ 60 Payout - Non-Legacy 46 21 19 39 40 40 Group Pension — — — 20 21 23 Health 15 9 10 58 61 64 Total $ 630 $ 360 $ 374 $ 293 $ 255 $ 262 The following table provides the weighted average interest rates for the liability for future policy benefits: Year Ended December 31, 2023 2022 Weighted Average Interest Rate Term Interest accretion rate 5.6 % 5.7 % Current discount rate 4.8 % 5.1 % Payout - Legacy Interest accretion rate 4.0 % 3.4 % Current discount rate 4.9 % 5.0 % Payout - Non-Legacy Interest accretion rate 5.0 % 4.9 % Current discount rate 4.9 % 5.2 % Group Pension Interest accretion rate 3.3 % 3.4 % Current discount rate 4.8 % 5.1 % Health Interest accretion rate 3.4 % 3.3 % Current discount rate 4.9 % 5.2 % The following table provides the balance, changes in and the weighted average durations of the additional insurance liabilities: Year Ended December 31, 2023 2022 UL (Dollars in millions) Balance, beginning of period $ 1,120 $ 1,082 Beginning balance before AOCI adjustments 1,135 1,076 Effect of changes in interest rate and cash flow assumptions and model changes 21 8 Effect of actual variances from expected 10 25 Adjusted beginning of period balance 1,166 1,109 Interest accrual 52 49 Net assessments collected 69 68 Benefit payments (57) (91) Ending balance before shadow reserve adjustments 1,230 1,135 Effect of reserve adjustment recorded in AOCI (10) (15) Balance, end of year $ 1,220 $ 1,120 Net liability for additional liability $ 1,220 $ 1,120 Less: Reinsurance recoverable (946) (562) Net liability for additional liability, after reinsurance recoverable $ 274 $ 558 Weighted-average duration of additional liability - death benefit (years) 19.9 22.0 The following tables provide the revenue, interest and weighted average interest rates, related to the additional insurance liabilities: Year Ended December 31, 2023 2022 2021 2023 2022 2021 Assessments Interest Accretion (in millions) Revenue and Interest Accretion UL $ 670 $ 666 $ 850 $ 51 $ 49 $ 45 Total $ 670 $ 666 $ 850 $ 51 $ 49 $ 45 Year Ended December 31, 2023 2022 2021 Weighted Average Interest Rate UL 4.5 % 4.5 % 4.5 % Interest accretion rate 4.5 % 4.5 % 4.5 % For 2023, 2022 and 2021, respectively, Equitable Financial’s statutory net income (loss) totaled $(1.7) billion, $134 million and $(865) million. Statutory surplus, Capital stock and AVR totaled $2.8 billion and $6.6 billion as of December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, Equitable Financial, in accordance with various government and state regulations, had $5 million and $5 million, respectively, of securities on deposit with such government or state agencies. In 2023 and 2022, Equitable Financial paid to its direct parent, which subsequently distributed such amount to Holdings, an ordinary shareholder dividend of $1.7 billion and $930 million, respectively. Equitable Financial did not pay ordinary dividends during 2021 due to operating losses. Dividend Restrictions As a domestic insurance subsidiary regulated by the insurance laws of New York State, Equitable Financial is subject to restrictions as to the amounts the Company may pay as dividends and amounts the Company may repay of surplus notes to Holdings. State insurance statutes also typically place restrictions and limitations on the amount of dividends or other distributions payable by insurance company subsidiaries to their parent companies, as well as on transactions between an insurer and its affiliates. Under the New York insurance laws, which are applicable to Equitable Financial, a domestic stock life insurer may not, without prior approval of the NYDFS, pay an ordinary dividend to its stockholders exceeding an amount calculated based on a statutory formula (“Ordinary Dividend”). Dividends in excess of this amount require the insurer to file a notice of its intent to declare the dividends with the NYDFS and obtain prior approval or non-disapproval from the NYDFS with respect to such dividends (“Extraordinary Dividend”). Due to a permitted statutory accounting practice agreed to with the NYDFS, Equitable Financial will need the prior approval of the NYDFS to pay the portion, if any, of any Ordinary Dividend that exceeds the Ordinary Dividend that Equitable Financial would be permitted to pay under New York insurance law absent the application of such permitted practice (such excess, the “Permitted Practice Ordinary Dividend”). Applying the formulas above, Equitable Financial is not permitted to pay an Ordinary Dividend in 2024. Intercompany Reinsurance The company receives statutory reserve credits for reinsurance treaties with EQ AZ Life Re to the extent EQ AZ Life Re holds assets in an irrevocable trust (the “EQ AZ Life Re Trust”). As of December 31, 2023, EQ AZ Life Re holds $1.3 billion of assets in the EQ AZ Life Re Trust and letters of credit of $2.0 billion that are guaranteed by Holdings. Under the reinsurance transactions, EQ AZ Life Re is permitted to transfer assets from the EQ AZ Life Re Trust under certain circumstances. The level of statutory reserves held by EQ AZ Life Re fluctuate based on market movements, mortality experience and policyholder behavior. Increasing reserve requirements may necessitate that additional assets be placed in trust and/or additional letters of credit be secured, which could adversely impact EQ AZ Life Re’s liquidity. Prescribed and Permitted Accounting Practices As of December 31, 2023, the following three prescribed and permitted practices resulted in surplus that is different from the statutory surplus that would have been reported had NAIC statutory accounting practices been applied. Equitable Financial was granted a permitted practice by the NYDFS to apply SSAP 108, Derivatives Hedging Variable Annuity Guarantees on a retroactive basis from January 1, 2021 through June 30, 2021, after reflecting the impacts of our reinsurance transaction with Venerable. The permitted practice was amended to also permit Equitable Financial to adopt SSAP 108 prospectively as of July 1, 2021 and to consider the impact of both the interest rate derivatives and the general account assets used to fully hedge the interest rate risk inherent in its variable annuity guarantees when determining the amount of the deferred asset or liability under SSAP 108. Application of the permitted practice partially mitigates the New York Insurance Regulation 213 (“Reg 213”) impact of the Venerable Transaction on Equitable Financial’s statutory capital and surplus and enables Equitable Financial to more effectively neutralize the impact of interest rates on its statutory surplus and to better align with our economic hedging program. The impact of applying this permitted practice relative to SSAP 108 as written was a decrease of approximately $64 million in statutory special surplus funds as of December 31, 2023. The Reinsurance Treaty reduced the amount of interest rate hedging needed going forward, affecting future deferrals, but leaves our historical SSAP 108 deferred amounts unchanged. The permitted practice also reset Equitable Financial’s unassigned surplus to zero as of June 30, 2021 to reflect the transformative nature of the Venerable Transaction. The NAIC Accounting Practices and Procedures manual (“NAIC SAP”) has been adopted as a component of prescribed or permitted practices by the State of New York. However, Reg 213 adopted in May of 2019 and as amended in February 2020 and March 2021, differs from the NAIC variable annuity reserve and capital framework. Reg 213 requires Equitable Financial to carry statutory basis reserves for its variable annuity contract obligations equal to the greater of those required under (i) the NAIC standard or (ii) a revised version of the NYDFS requirement in effect prior to the adoption of the first amendment for contracts issued prior to January 1, 2020, and for policies issued after that date a new standard that in current market conditions imposes more conservative reserving requirements for variable annuity contracts than the NAIC standard. The impact of the application of Reg 213 was a decrease of approximately $251 million in statutory surplus as of December 31, 2023 compared to statutory surplus under the NAIC variable annuity framework. Our hedging program is designed to hedge the economics of our insurance liabilities and largely offsets Reg 213 and NAIC framework reserve movements due to interest rates and equities. The NYDFS allows domestic insurance companies a five year phase-in provision for Reg 213 reserves. As of September 30, 2022, Equitable Financial’s Reg 213 reserves were 100% phased-in. As of December 31, 2023, given the prevailing market conditions and business mix, there are $241 million Reg 213 redundant reserves over the US RBC CTE 98 total asset requirement (“TAR”). During the fourth quarter 2020, Equitable Financial received approval from NYDFS for its proposed amended Plan of Operation for Separate Account No. 68 (“SA 68”) for our Structured Capital Strategies product and Separate Account No. 69 (“SA 69”) for our EQUI-VEST product Structured Investment Option, to change the accounting basis of these two non-insulated Separate Accounts from fair value to book value in accordance with Section 1414 of the Insurance Law to align with how we manage and measure our overall general account asset portfolio. In order to facilitate this change and comply with Section 4240(a)(10), the Company also sought approval to amend the Plans to remove the requirement to comply with Section 4240(a)(5)(iii) and substitute it with a commitment to comply with Section 4240(a)(5)(i). Similarly, the Company updated the reserves section of each Plan to reflect the fact that Regulation 128 would no longer be applicable upon the change in accounting basis. We applied this change effective January 1, 2021. The impact of the application is an increase of approximately $1.9 billion in statutory surplus as of December 31, 2023. Differences between Statutory Accounting Principles and U.S. GAAP Accounting practices used to prepare statutory financial statements for regulatory filings of stock life insurance companies differ in certain instances from U.S. GAAP. The differences between statutory surplus and capital stock determined in accordance with SAP and total equity under U.S. GAAP are primarily: (a) the inclusion in SAP of an AVR intended to stabilize surplus from fluctuations in the value of the investment portfolio; (b) future policy benefits and policyholders’ account balances under SAP differ from U.S. GAAP due to differences between actuarial assumptions and reserving methodologies; (c) certain policy acquisition costs are expensed under SAP but deferred under U.S. GAAP and amortized over future periods to achieve a matching of revenues and expenses; (d) under SAP, Federal income taxes are provided on the basis of amounts currently payable with limited recognition of deferred tax assets while under U.S. GAAP, deferred taxes are recorded for temporary differences between the financial statements and tax basis of assets and liabilities where the probability of realization is reasonably assured; (e) the valuation of assets under SAP and U.S. GAAP differ due to different investment valuation and depreciation methodologies, as well as the deferral of interest-related realized capital gains and losses on fixed income investments; (f) reporting the surplus notes as a component of surplus in SAP but as a liability in U.S. GAAP; (g) computer software development costs are capitalized under U.S. GAAP but expensed under SAP; (h) certain assets, primarily prepaid assets, are not admissible under SAP but are admissible under U.S. GAAP; and (i) cost of reinsurance which is recognized as expense under SAP and amortized over the life of the underlying reinsured policies under U.S. GAAP.

REDEEMABLE NONCONTROLLING INTER

REDEEMABLE NONCONTROLLING INTEREST	12 Months Ended
	Dec. 31, 2023
Noncontrolling Interest [Abstract]
REDEEMABLE NONCONTROLLING INTEREST	REDEEMABLE NONCONTROLLING INTEREST The changes in the components of redeemable noncontrolling interests are presented in the following table: Year Ended December 31, 2023 2022 2021 (in millions) Balance, beginning of period $ 21 $ 28 $ 41 Net earnings (loss) attributable to redeemable noncontrolling interests 1 (3) — Purchase/change of redeemable noncontrolling interests 2 (4) (13) Balance, end of period $ 24 $ 21 $ 28

REVENUES FROM EXTERNAL CUSTOMER

REVENUES FROM EXTERNAL CUSTOMERS	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
REVENUES FROM EXTERNAL CUSTOMERS	REVENUES FROM EXTERNAL CUSTOMERS Revenue from external customers, by product, is shown in the table that follows: Year Ended December 31, 2023 (2) 2022 2021 (in millions) Individual Variable Annuity Products Premiums $ 176 $ 123 $ 126 Fees (1) 1,003 1,792 2,364 Others 118 87 72 Total $ 1,297 $ 2,002 $ 2,562 Employer- Sponsored Premiums $ — $ — $ — Fees 434 506 611 Others 19 25 5 Total $ 453 $ 531 $ 616 Life Insurance Products Premiums $ 530 $ 545 $ 566 Fees 1,354 1,375 1,417 Others — 10 7 Total $ 1,884 $ 1,930 $ 1,990 Employee Benefit Products Premiums $ 46 $ 46 $ 40 Fees — — — Others 2 8 — Total $ 48 $ 54 $ 40 Other Premiums $ 8 $ 11 $ 18 Fees 8 12 16 Others 2 1 10 Total $ 18 $ 24 $ 44 ______________ (1) Excludes the amortization/capitalization of unearned revenue liability of $(38) million, $(38) million and $(13) million for the years ended December 31, 2023, 2022 and 2021, respectively. (2) Excludes reinsurance ceded to Equitable America.

SCHEDULE I - SUMMARY OF INVESTM

SCHEDULE I - SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]
SCHEDULE I - SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES	SUMMARY OF INVESTMENTS—OTHER THAN INVESTMENTS IN RELATED PARTIES AS OF DECEMBER 31, 2023 Cost (1) Fair Value Carrying Value (in millions) Fixed maturities, AFS: U.S. government, agencies and authorities $ 5,639 $ 4,539 $ 4,539 State, municipalities and political subdivisions 525 470 470 Foreign governments 689 581 581 Public utilities 5,836 5,092 5,092 All other corporate bonds 36,178 32,175 32,175 Residential mortgage-backed 1,469 1,344 1,344 Asset-backed 8,092 8,005 8,005 Commercial mortgage-backed 3,400 2,900 2,900 Redeemable preferred stocks 56 59 59 Total fixed maturities, AFS 61,884 55,165 55,165 Mortgage loans on real estate (2) 17,856 16,174 17,877 Policy loans 3,667 3,961 3,667 Other equity investments 3,042 3,162 3,162 Trading securities 246 257 257 Other invested assets 5,952 5,952 5,952 Total Investments $ 92,647 $ 84,671 $ 86,080 ______________ (1) Cost for fixed maturities represents original cost, reduced by repayments and write-downs and adjusted for amortization of premiums or accretion of discount; cost for equity securities represents original cost reduced by write-downs; cost for other limited partnership interests represents original cost adjusted for equity in earnings and reduced by distributions. (2) Carrying value for mortgage loans on real estate represents original cost adjusted for amortization of premiums or accretion of discount and reduced by credit loss allowance.

SCHEDULE IV - REINSURANCE

SCHEDULE IV - REINSURANCE	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
SCHEDULE IV - REINSURANCE	REINSURANCE (1) AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021 Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Percentage of Amount Assumed to Net (in millions) 2023 Life insurance in-force $ 374,695 $ 184,482 $ 30,706 $ 220,919 13.9 % Premiums: Life insurance and annuities $ 771 $ 390 $ 167 $ 548 30.5 % Accident and health 49 18 8 39 20.5 % Total premiums $ 820 $ 408 $ 175 $ 587 29.8 % 2022 Life insurance in-force $ 379,949 $ 156,088 $ 31,337 $ 255,197 12.3 % Premiums: Life insurance and annuities $ 712 $ 200 $ 172 $ 684 25.1 % Accident and health 52 19 8 41 19.5 % Total premiums $ 764 $ 219 $ 180 $ 725 24.8 % 2021 Life insurance in-force $ 388,520 $ 164,782 $ 31,971 $ 255,710 12.5 % Premiums: Life insurance and annuities $ 709 $ 170 $ 173 $ 712 24.3 % Accident and health 53 23 8 38 21.1 % Total premiums $ 762 $ 193 $ 181 $ 750 24.1 % ______________ (1) Includes amounts related to the discontinued group life and health business.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 156	$ 1,597	$ 1,111

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
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

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions (including normal, recurring accruals) that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from these estimates. The accompanying consolidated financial statements present the consolidated results of operations, financial condition and cash flows of the Company and its subsidiaries and those investment companies, partnerships and joint ventures in which the Company has control and a majority economic interest as well as those VIEs that meet the requirements for consolidation. Financial results in the historical consolidated financial statements may not be indicative of the results of operations, comprehensive income (loss), financial position, equity or cash flows that would have been achieved had we operated as a separate, standalone entity during the reporting periods presented. We believe that the consolidated financial statements include all adjustments necessary for a fair presentation of the results of operations of the Company. All significant intercompany transactions and balances have been eliminated in consolidation. The years “2023”, “2022” and “2021” refer to the years ended December 31, 2023, 2022 and 2021, respectively.
Recent Accounting Pronouncements, Adoption of New Accounting Pronouncements, Future Adoption of New Accounting Pronouncements	Recent Accounting Pronouncements Changes to U.S. GAAP are established by the FASB in the form of Accounting Standards Updates (“ASUs”) to the FASB Accounting Standards Codification (“ASC”). The Company considers the applicability and impact of all ASUs. ASUs listed below include those that have been adopted during the current fiscal year and/or those that have been issued but not yet adopted as of December 31, 2023, and as of the date of this filing. ASUs not listed below were assessed and determined to be either not applicable or not material. Adoption of New Accounting Pronouncements Description Effect on the Financial Statement or Other Significant Matters ASU 2018-12: Financial Services - Insurance (Topic 944) This ASU provides targeted improvements to existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The ASU primarily impacts four key areas, including: 2. Measurement of Market Risk Benefits (“MRBs”). MRBs, as defined under the ASU, will encompass certain GMxB features associated with variable annuity products and other general account annuities with other than nominal market risk. 3. Amortization of deferred acquisition costs. The ASU simplifies the amortization of deferred acquisition costs and other balances amortized in proportion to premiums, gross profits, or gross margins, requiring such balances to be amortized on a constant level basis over the expected term of the contracts. 4. Expanded footnote disclosures. The ASU requires additional disclosures including information about significant inputs, judgements, assumptions and methods used in measurement. On January 1, 2023, the Company adopted the new accounting standard ASU 2018-12 using the modified retrospective approach, except for MRBs which will use the full retrospective approach. Refer to “Transition impact of ASU 2018-12, Financial Services- Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts” section within this note for further details. Future Adoption of New Accounting Pronouncements Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2023-07: Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures This ASU provides improvements to reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple measures of segment profit or loss, provide new segment disclosure requirements for entities with a single reportable segment and contain other disclosure requirements. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024. A calendar year public entity will adopt the ASU for its 2024 Form 10-K. The ASU should be adopted retrospectively to all periods presented in the financial statements unless it is impracticable to do so. The Company is currently assessing the additional required disclosures under the ASU including providing new segment disclosure requirements for entities with a single reportable segment. Management is evaluating the impact the adoption of this guidance will have on the Company’s consolidated financial statements. ASU 2023-09: Income Taxes (Topic 740): Improvements to Income Tax Disclosures The ASU enhanced existing income tax disclosures primarily related to the rate reconciliation and income taxes paid information. With regard to the improvements to disclosures of rate reconciliation, a public business entity is required on an annual basis to (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. Similarly, a public entity is required to provide the amount of income taxes paid (net of refunds received) disaggregated by (1) federal, state, and foreign taxes and by(2) individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5 percent of total income taxes paid (net of refunds received). The ASU also includes certain other amendments to improve the effectiveness of income tax disclosures, for example, an entity is required to provide (1) pretax income (or loss) from continuing operations disaggregated between domestic and foreign, and (2) income tax expense (or benefit) from continuing operations disaggregated by federal, state, and foreign. The ASU will be effective for annual periods beginning after December 15, 2024. Entities are required to apply the ASU on a prospective basis. The adoption of ASU 2023-09 is not expected to materially impact the Company’s financial position, results of operation, or cash flows. SEC Release Nos. 33-11275; 34-99678, The Enhancement and Standardization of Climate-Related Disclosures for Investors The SEC adopted rules requiring registrants to disclose climate-related information in registration statements and annual reports. The new rules include disclosure of material climate-related risks, including descriptions of board oversight and risk management activities. the material impacts of these risks on a registrant’s strategy, business model and outlook and any material climate-related targets or goals. In addition, registrants will need to quantify certain effects of severe weather events and other natural conditions in a note to their audited financial statements. Financial statement and all other disclosures are required at the beginning of the fiscal year 2027 with disclosures about material expenditure and impact required at the beginning of the fiscal year 2028. Disclosures are provided prospectively upon adoption. The Company is currently assessing the additional required disclosures under the SEC Release. Management is evaluating the impact of the adoption of this guidance will have on the Company’s consolidated financial statements.
Investments	Investments The carrying values of fixed maturities classified as AFS are reported at fair value. Changes in fair value are reported in OCI, net of allowance for credit losses, policy related amounts and deferred income taxes. Changes in credit losses are recognized in Investment gains (losses), net. The redeemable preferred stock investments that are reported in fixed maturities include REIT, perpetual preferred stock and redeemable preferred stock. These securities may not have a stated maturity, may not be cumulative and do not provide for mandatory redemption by the issuer. The Company determines the fair values of fixed maturities and equity securities based upon quoted prices in active markets, when available, or through the use of alternative approaches when market quotes are not readily accessible or available. These alternative approaches include matrix or model pricing and use of independent pricing services, each supported by reference to principal market trades or other observable market assumptions for similar securities. More specifically, the matrix pricing approach to fair value is a discounted cash flow methodology that incorporates market interest rates commensurate with the credit quality and duration of the investment. The Company’s management, with the assistance of its investment advisors, evaluates AFS debt securities that experienced a decline in fair value below amortized cost for credit losses which are evaluated in accordance with the new financial instruments credit losses guidance. Integral to this review is an assessment made each quarter, on a security-by-security basis, by the Company’s IUS Committee, of various indicators of credit deterioration to determine whether the investment security has experienced a credit loss. This assessment includes, but is not limited to, consideration of the severity of the unrealized loss, failure, if any, of the issuer of the security to make scheduled payments, actions taken by rating agencies, adverse conditions specifically related to the security or sector, and the financial strength, liquidity and continued viability of the issuer. The Company recognizes an allowance for credit losses on AFS debt securities with a corresponding adjustment to earnings rather than a direct write down that reduces the cost basis of the investment, and credit losses are limited to the amount by which the security’s amortized cost basis exceeds its fair value. Any improvements in estimated credit losses on AFS debt securities are recognized immediately in earnings. Management does not use the length of time a security has been in an unrealized loss position as a factor, either by itself or in combination with other factors, to conclude that a credit loss does not exist. When the Company determines that there is more than 50% likelihood that it is not going to recover the principal and interest cash flows related to an AFS debt security, the security is placed on nonaccrual status and the Company reverses accrued interest receivable against interest income. Since the nonaccrual policy results in a timely reversal of accrued interest receivable, the Company does not record an allowance for credit losses on accrued interest receivable. If there is no intent to sell or likely requirement to dispose of the fixed maturity security before its recovery, only the credit loss component of any resulting allowance is recognized in income (loss) and the remainder of the fair value loss is recognized in OCI. The amount of credit loss is the shortfall of the present value of the cash flows expected to be collected as compared to the amortized cost basis of the security. The present value is calculated by discounting management’s best estimate of projected future cash flows at the effective interest rate implicit in the debt security at the date of acquisition. Projections of future cash flows are based on assumptions regarding probability of default and estimates regarding the amount and timing of recoveries. These assumptions and estimates require use of management judgment and consider internal credit analyses as well as market observable data relevant to the collectability of the security. For mortgage and asset-backed securities, projected future cash flows also include assumptions regarding prepayments and underlying collateral value. Write-offs of AFS debt securities are recorded when all or a portion of a financial asset is deemed uncollectible. Full or partial write-offs are recorded as reductions to the amortized cost basis of the AFS debt security and deducted from the allowance in the period in which the financial assets are deemed uncollectible. The Company elected to reverse accrued interest deemed uncollectible as a reversal of interest income. In instances where the Company collects cash that it has previously written off, the recovery will be recognized through earnings or as a reduction of the amortized cost basis for interest and principal, respectively. Policy loans represent funds loaned to policyholders up to the cash surrender value of the associated insurance policies and are carried at the unpaid principal balances due to the Company from the policyholders. Interest income on policy loans is recognized in net investment income at the contract interest rate when earned. Policy loans are fully collateralized by the cash surrender value of the associated insurance policies. Partnerships, investment companies and joint venture interests that the Company has control of and has an economic interest in or those that meet the requirements for consolidation under accounting guidance for consolidation of VIEs are consolidated. Those that the Company does not have control of and does not have a majority economic interest in and those that do not meet the VIE requirements for consolidation are reported on the equity method of accounting and are reported in other equity investments. The Company records its interests in certain of these partnerships on a month or one quarter lag. Trading securities, which include equity securities and fixed maturities, are carried at fair value based on quoted market prices, with realized and unrealized gains (losses) reported in net investment income (loss) in the consolidated statements of income (loss). COLI has been purchased by the Company and certain subsidiaries on the lives of certain key employees and the Company and these subsidiaries are named as beneficiaries under these policies. COLI is carried at the cash surrender value of the policies. As of December 31, 2023 and 2022, the carrying value of COLI was $918 million and $888 million, respectively, and is reported in other invested assets in the consolidated balance sheets. Cash and cash equivalents includes cash on hand, demand deposits, money market accounts, overnight commercial paper and highly liquid debt instruments purchased with an original maturity of three months or less. Due to the short-term nature of these investments, the recorded value is deemed to approximate fair value.
Derivatives	Derivatives Derivatives are financial instruments whose values are derived from interest rates, foreign exchange rates, financial indices, values of securities or commodities, credit spreads, market volatility, expected returns and liquidity. Values can also be affected by changes in estimates and assumptions, including those related to counterparty behavior and non-performance risk used in valuation models. Derivative financial instruments generally used by the Company include equity, currency, and interest rate futures, total return and/or other equity swaps, interest rate swaps and floors, swaptions, variance swaps and equity options, all of which may be exchange-traded or contracted in the OTC market. All derivative positions are carried in the consolidated balance sheets at fair value, generally by obtaining quoted market prices or through the use of valuation models. Freestanding derivative contracts are reported in the consolidated balance sheets either as assets within “other invested assets” or as liabilities within “other liabilities”. The Company nets the fair value of all derivative financial instruments with counterparties for which an ISDA Master Agreement and related CSA have been executed. All changes in the fair value of the Company’s freestanding derivative positions not designated to hedge accounting relationships, including net receipts and payments, are included in “net derivative gains (losses)” without considering changes in the fair value of the economically associated assets or liabilities. The Company has designated certain derivatives it uses to economically manage asset/liability risk in relationships which qualify for hedge accounting. To qualify for hedge accounting, we formally document our designation at inception of the hedge relationship as a cash flow, fair value or net investment hedge. This documentation includes our risk management objective and strategy for undertaking the hedging transaction. The Company identifies how the hedging instrument is expected to offset the designated risks related to the hedged item and the method that will be used to retrospectively and prospectively assess the hedge effectiveness. To qualify for hedge accounting, a hedging instrument must be assessed as being highly effective in offsetting the designated risk of the hedged item. Hedge effectiveness is formally assessed and documented at inception and periodically throughout the life of the hedge accounting relationship. The Company does not exclude any components of the hedging instrument from the effectiveness assessments and therefore does not separately measure or account for any excluded components of the hedging instrument. While in cash flow hedge relationships, any periodic net receipts and payments from the hedging instrument are included in the income or expense line that the hedged item’s periodic income or expense is recognized. Other changes in the fair value of the hedging instrument while in a cash flow hedging relationship are reported within OCI. These amounts are deferred in AOCI until they are reclassified to Net income (loss). The reclassified amount offsets the effect of the cash flows on Net income (loss) in the same period when the hedged item affects earnings and on the same line as the hedged item. We discontinue cash flow hedge accounting prospectively when the Company determines: (1) the hedging instrument is no longer highly effective in offsetting changes in the cash flow from the hedged risk, (2) the hedged item is no longer probable of occurring within two months of their forecast, or (3) the hedging instrument is otherwise redesignated from the hedging relationship. Changes in the fair value of the derivative after discontinuation of cash flow hedge accounting are accounted for as freestanding derivative positions not designated to hedge accounting relationships unless and until the derivative is redesignated to a hedge accounting relationship. When cash flow hedge accounting is discontinued the amounts deferred in AOCI during the hedge relationship continue to be deferred in AOCI, as long as the hedged items continue to be probable of occurring within two months of their forecast, until the hedged item affects Net income (loss). Any amount deferred in AOCI for hedged items which are no longer probable of occurring within two months of their forecast will be reclassified to “net derivative gains (losses)” at that time. The Company is a party to financial instruments and other contracts that contain “embedded” derivative instruments. At inception, the Company assesses whether the economic characteristics of the embedded instrument are “clearly and closely related” to the economic characteristics of the remaining component of the “host contract” and whether a separate instrument with the same terms as the embedded instrument would meet the definition of a derivative instrument. Once those criteria are met, the resulting embedded derivative is bifurcated from the host contract, carried in the consolidated balance sheets at fair value, and changes in its fair value are recognized immediately and captioned in the consolidated statements of income (loss) according to the nature of the related host contract. For certain financial instruments that contain an embedded derivative that otherwise would need to be bifurcated and reported at fair value, the Company instead may elect to carry the entire instrument at fair value.
Mortgage Loans on Real Estate	Mortgage Loans on Real Estate The Company invests in commercial, agricultural and residential mortgage loans which are included in the consolidated balance sheets as mortgage loans on real estate. Mortgage loans are stated at unpaid principal balances, net of unamortized discounts and the allowance for credit losses. The Company calculates the allowance for credit losses in accordance with the CECL model in order to provide for the risk of credit losses in the lending process. Expected credit losses for loans with similar risk characteristics are estimated on a collective (i.e., pool) basis in order to meet CECL’s risk of loss concept which requires the Company to consider possibilities of loss, even if remote. For collectively evaluated mortgages, the Company estimates the allowance for credit losses based on the amortized cost basis of its mortgages over their expected life using a PD / LGD model. The PD / LGD model incorporates the Company’s reasonable and supportable forecast of macroeconomic information over a specified period. The length of the reasonable and supportable forecast period is reassessed on a quarterly basis and may be adjusted as appropriate over time to be consistent with macroeconomic conditions and the environment as of the reporting date. For periods beyond the reasonable and supportable forecast period, the model reverts to historical loss information. The PD and LGD are estimated at the loan-level based on loans’ current and forecasted risk characteristics as well as macroeconomic forecasts. The PD is estimated using both macroeconomic conditions as well as individual loan risk characteristics including LTV ratios, DSC ratios, DTI ratio, seasoning, collateral type, geography, and underlying credit. The LGD is driven primarily by the type and value of collateral, and secondarily by expected liquidation costs and time to recovery. For individually evaluated mortgages, the Company continues to recognize a valuation allowance on the present value of expected future cash flows discounted at the loan’s original effective interest rate or on its collateral value. The CECL model is configured to the Company’s specifications and takes into consideration the detailed risk attributes of each discrete loan in the mortgage portfolio which include, but are not limited to the following: • LTV ratio - Derived from current loan balance divided by the fair market value of the property. An LTV ratio in excess of 100% indicates an underwater mortgage. • DSC ratio - Derived from actual operating earnings divided by annual debt service. If the ratio is below 1.0x, then the income from the property does not support the debt. • DTI ratio - is used for residential mortgage loans to assess a borrower’s ability to repay a loan. DTI ratio is derived by adding up all the borrower’s debt payments and dividing that sum by the borrower’s gross monthly income. • Consumer Credit Score - is used for residential mortgage loans to determine the borrower’s credit worthiness and eligibility for a residential loan based upon credit reports. • Occupancy - Criteria varies by property type but low or below market occupancy is an indicator of sub-par property performance. • Lease expirations - The percentage of leases expiring in the upcoming 12 to 36 months are monitored as a decline in rent and/or occupancy may negatively impact the debt service coverage ratio. In the case of single-tenant properties or properties with large tenant exposure, the lease expiration is a material risk factor. • Other - Any other factors such as maturity, borrower/tenant related issues, payment status, property condition, or current economic conditions may call into question the performance of the loan. Mortgage loans that do not share similar risk characteristics with other loans in the portfolio are individually evaluated quarterly by the Company’s IUS Committee. The allowance for credit losses on these individually evaluated mortgages is a loan-specific reserve as a result of the loan review process that is recorded based on the present value of expected future cash flows discounted at the loan’s effective interest rate or based on the fair value of the collateral. The individually assessed allowance for mortgage loans can increase or decrease from period to period based on such factors. Individually assessed loans may include, but are not limited to, mortgages that have deteriorated in credit quality such as a TDR and reasonably expected TDRs, mortgages for which foreclosure is probable, and mortgages which have been classified as “potential problem” or “problem” loans within the Company’s IUS Committee processes as described below. Within the IUS process, commercial mortgages 60 days or more past due and agricultural and residential mortgages 90 days or more past due, as well as all mortgages in the process of foreclosure, are identified as problem mortgage loans. Based on its monthly monitoring of mortgages, a class of potential problem mortgage loans are also identified, consisting of mortgage loans not currently classified as problem mortgage loans but for which management has doubts as to the ability of the borrower to comply with the present loan payment terms and which may result in the loan becoming a problem or being modified. The decision whether to classify a performing mortgage loan as a potential problem involves judgments by management as to likely future industry conditions and developments with respect to the borrower or the individual mortgaged property. Individually assessed mortgage loans without provision for losses are mortgage loans where the fair value of the collateral or the net present value of the expected future cash flows related to the loan equals or exceeds the recorded investment. Interest income earned on mortgage loans where the collateral value is used to measure impairment is recorded on a cash basis. Interest income on mortgage loans where the present value method is used to measure impairment is accrued on the net carrying value amount of the loan at the interest rate used to discount the cash flows. Mortgage loans are placed on nonaccrual status once management believes the collection of accrued interest is not probable. Once mortgage loans are classified as nonaccrual mortgage loans, interest income is recognized under the cash basis of accounting and the resumption of the interest accrual would commence only after all past due interest has been collected or the mortgage loan has been restructured to where the collection of interest is considered likely. The Company charges off loan balances and accrued interest that are deemed uncollectible. The components of amortized cost for mortgage loans on the consolidated balance sheets excludes accrued interest amounts because the Company presents accrued interest receivables within other assets. Once mortgage loans are placed on nonaccrual status, the Company reverses accrued interest receivable against interest income. Since the nonaccrual policy results in the timely reversal of accrued interest receivable, the Company does not record an allowance for credit losses on accrued interest receivable.
Troubled Debt Restructuring	Troubled Debt Restructuring The investment the Company makes in commercial, agricultural and residential mortgage loans are included in the consolidated balance sheets as mortgage loans on real estate. The investments the Company makes in privately negotiated fixed maturities are included in the consolidated balance sheets as fixed maturities AFS. Under certain circumstances, modifications are granted to these contracts. Each modification is evaluated as to whether a TDR has occurred. A modification is a TDR when the borrower is in financial difficulty and the creditor makes concessions. Generally, the types of concessions may include reducing the face amount or maturity amount of the debt as originally stated, reducing the contractual interest rate, extending the maturity date at an interest rate lower than current market interest rates and/or reducing accrued interest. The Company considers the amount, timing and extent of the concession granted in determining any impairment or changes in the specific credit allowance recorded in connection with the TDR. A credit allowance may have been recorded prior to the period when the loan is modified in a TDR. Accordingly, the carrying value (net of the allowance) before and after modification through a TDR may not change significantly, or may increase if the expected recovery is higher than the pre-modification recovery assessment. For information pertaining to our TDRs see Note 3 of the Notes to these Consolidated Financial Statements.
Securities Lending Program	Securities Lending Program The Company enters into securities lending transactions whereby securities are loaned to third parties, primarily major brokerage firms. Securities lending transactions are treated as financing arrangements and the associated liability is recorded at the amount of cash received. Income and expenses associated with securities lending transactions are reported within net investment income in the consolidated statements of income (loss).
Net Investment Income (Loss), Investment Gains (Losses), Net, and Unrealized Investment Gains (Losses)	Net Investment Income (Loss), Investment Gains (Losses) Net, and Unrealized Investment Gains (Losses) Realized investment gains (losses) are determined by identification with the specific asset and are presented as a component of revenue. Changes in the allowance for credit losses are included in investment gains (losses), net. Realized and unrealized holding gains (losses) on trading and equity securities are reflected in net investment income (loss). Unrealized investment gains (losses) on fixed maturities designated as AFS held by the Company are accounted for as a separate component of AOCI, net of related deferred income taxes, as are amounts attributable to certain pension operations, Closed Block’s policyholders’ dividend obligation, insurance liability loss recognition, DAC related to UL policies, investment-type products and participating traditional life policies. Changes in unrealized gains (losses) reflect changes in fair value of only those fixed maturities classified as AFS and do not reflect any change in fair value of policyholders’ account balances and future policy benefits.
Fair Value of Financial Instruments	Fair Value of Financial Instruments
Recognition of Insurance Income and Related Expenses	Recognition of Insurance Income and Related Expenses Deposits related to UL and investment-type contracts are reported as deposits to policyholders’ account balances. Revenues from these contracts consist of fees assessed during the period against policyholders’ account balances for mortality charges, policy administration charges and surrender charges. Policy benefits and claims that are charged to expense include benefit claims incurred in the period in excess of related policyholders’ account balances.
Securities Sold under Agreements to Repurchase	Securities Sold under Agreements to Repurchase Securities sold under agreements to repurchase involve the temporary exchange of securities for cash or other collateral of equivalent value, with agreement to redeliver a like quantity of the same or similar securities at a future date prior to maturity at a fixed and determinable price. Securities sold under agreements to repurchase transactions are conducted by the Company under a standardized securities industry master agreement, amended to suit the requirements of each respective counterparty. Transfers of securities under these agreements to repurchase are evaluated by the Company to determine whether they satisfy the criteria for accounting treatment as secured borrowing arrangements. Agreements not meeting the criteria would require recognition of the transferred securities as sales with related forward repurchase commitments. All of the Company’s securities repurchase transactions are accounted for as secured borrowings with the related obligations distinctly captioned in the consolidated balance sheets on a gross basis. Income and expenses associated with repurchase agreements are recognized as investment income and investment expense, respectively, within net investment income (loss). As of December 31, 2023 and 2022, the Company had no Securities sold under agreements to repurchase outstanding. During the year ended December 31, 2021 there was no activity on Securities sold under agreements to repurchase.
DAC	DAC Acquisition costs that vary with and are primarily related to the acquisition of new and renewal insurance business, reflecting incremental direct costs of contract acquisition with independent third parties or employees that are essential to the contract transaction, as well as the portion of employee compensation, including employee fringe benefits and other costs directly related to underwriting, policy issuance and processing, medical inspection, and contract selling for successfully negotiated contracts including commissions, underwriting, agency and policy issue expenses, are deferred. Contracts are measured on a grouped basis utilizing cohorts consistent with those used in the calculation of future policy benefit reserves. DAC is amortized on a constant level basis for the grouped contracts over the expected term of the contract. For life insurance products, DAC is amortized in proportion to the face amount in force. For annuity products DAC is amortized in proportion to policy counts. The constant level basis used for amortization determines the current period amortization considering both the current period’s actual experience and future projections. The amortization pattern is revised quarterly on a prospective basis. Amortization of DAC is included in Amortization of DAC, part of total benefits and other deductions. For some products, policyholders can elect to modify product benefits, features, rights or coverages that occur by the exchange of a contract for a new contract, or by amendment, endorsement, or rider to a contract, or by election or coverage within a contract. These transactions are known as internal replacements. If such modification substantially changes the contract, the associated DAC is written off immediately through income and any new acquisition costs associated with the replacement contract are deferred.
Funds withheld payable	Funds withheld payable Funds withheld payable represents a payable for amounts contractually withheld by the Company as ceding company in accordance with funds withheld coinsurance (“funds withheld”) reinsurance agreements. The funds withheld payable under reinsurance treaties includes a funds withheld embedded derivative liability. The reinsurance agreement between the Company and Equitable America, written on a funds withheld and modified coinsurance basis, contains embedded derivatives. We determined that the obligation to pay the total return on the assets within the funds withheld liability, represents a total return swap with a floating rate leg. The fair value of embedded derivatives on funds withheld and modified coinsurance agreements is computed as the unrealized gain (loss) on the underlying assets and is included within funds withheld payable on the consolidated balance sheets for ceded agreement. The change in the fair value of the embedded derivatives is recorded in net derivatives gains (losses) on the consolidated statements of income (loss). Ceded earnings from the funds withheld payable and changes in the fair value of embedded derivatives are reported in operating activities on the consolidated statements of cash flows. Contributions to and withdrawals from the funds withheld payable are reported in operating activities on the consolidated statements of cash flows. For business ceded on a funds withheld or modified coinsurance basis, a funds withheld segregated portfolio, comprised of invested assets and other assets is maintained by the Company as ceding entity, which is sufficient to support the current balance of statutory reserves. The fair value of the embedded derivative in funds withheld is recorded as a funds withheld payable and any excess or shortfall in relation to statutory reserves is settled quarterly.
Reinsurance	Reinsurance For each of its reinsurance agreements, the Company determines whether the agreement provides indemnification against loss or liability relating to insurance risk in accordance with applicable accounting standards. Cessions under reinsurance agreements do not discharge the Company’s obligations as the primary insurer. The Company reviews all contractual features, including those that may limit the amount of insurance risk to which the reinsurer is subject or features that delay the timely reimbursement of claims. For reinsurance of existing in-force blocks of long-duration contracts that transfer significant insurance risk, the difference, if any, between the amounts paid (received), and the liabilities ceded (assumed) related to the underlying contracts is considered the net cost of reinsurance at the inception of the reinsurance agreement. Subsequent amounts paid (received) on the reinsurance of in-force blocks, as well as amounts paid (received) related to new business, are recorded as premiums ceded (assumed); and amounts due from reinsurers (amounts due to reinsurers) are established. Assets and liabilities relating to reinsurance agreements with the same reinsurer may be recorded net on the balance sheet, if a right of offset exists within the reinsurance agreement. In the event that reinsurers do not meet their obligations to the Company under the terms of the reinsurance agreements, reinsurance recoverable balances could become uncollectible. In such instances, reinsurance recoverable balances are stated net of allowances for uncollectible reinsurance. Premiums, policy charges and fee income, and policyholders’ benefits include amounts assumed under reinsurance agreements and are net of reinsurance ceded. Amounts received from reinsurers for policy administration are reported in other revenues. For reinsurance contracts, reinsurance recoverable balances are generally calculated using methodologies and assumptions that are consistent with those used to calculate the direct liabilities. Ceded reinsurance transactions are recognized and measured in a manner consistent with underlying reinsured contracts, including using consistent assumptions. Assumed and ceded reinsurance contract rights and obligations are accounted for on a basis consistent with our direct contract. The reinsurance cost or benefit for traditional life non-participating and limited-payment contracts is recognized in proportion to the gross premiums of the underlying direct cohorts. The locked-in single A discount rate used to calculate the reinsurance cost or benefit is established at inception of the reinsurance contract. Changes to the single A discount rate are reflected in comprehensive income at each reporting date. If the Company determines that a reinsurance agreement does not expose the reinsurer to a reasonable possibility of a significant loss from insurance risk, the Company records the agreement using the deposit method of accounting. Deposits received are included in other liabilities and deposits made are included within other assets. As amounts are paid or received, consistent with the underlying contracts, the deposit assets or liabilities are adjusted. Interest on such deposits is recorded as other income or other operating costs and expenses, as appropriate. The reinsurance agreement between the Company and Equitable America, written on a modified coinsurance basis, contains embedded derivatives. We have determined that the right to receive or obligation to pay the total return on the assets within the funds withheld liability, represents a total return swap with a floating rate leg. The fair value of embedded derivatives on the modified coinsurance agreement is computed as the unrealized gain (loss) and current period income on the underlying assets and is included within amount due from reinsurers on the consolidated balance sheets for ceded agreement. The change in the fair value of the embedded derivatives is recorded in net derivative gains (losses) on the consolidated statements of income (loss). Ceded earnings from the modified coinsurance and changes in the fair value of embedded derivatives are reported in operating activities on the consolidated statements of cash flows. Contributions to and withdrawals from the amount due from reinsurers are reported in operating activities on the consolidated statements of cash flows.
Sales Inducement Assets	Sales Inducement Assets Sales inducement assets are offered on certain deferred annuity products in the form of either immediate bonus interest credited or enhanced interest crediting rates for a period of time. The interest crediting expense associated with these sales inducement assets is deferred and amortized over the lives of the underlying contracts in a manner consistent with the amortization of DAC. Unamortized balances are included in other assets in the consolidated balance sheets and amortization is included in interest credited to policyholders’ account balances in the consolidated statements of income (loss).
Policyholders’ Account Balances, Future Policy Benefits and Other Policyholders’ Liabilities and Market Risk Benefits	Policyholders’ Account Balances Policyholders’ account balances relate to contracts or contract features where the Company has no significant insurance risk. This liability represents the contract value that has accrued to the benefit of the policyholder as of the balance sheet date. Obligations arising from funding agreements are also reported in policyholders’ account balances in the consolidated balance sheets. As a member of the FHLB, the Company has access to collateralized borrowings. The Company may also issue funding agreements to the FHLB. Both the collateralized borrowings and funding agreements would require the Company to pledge qualified mortgage-backed assets and/or government securities as collateral. Future Policy Benefits and Other Policyholders’ Liabilities The liability for future policy benefits is estimated based upon the present value of future policy benefits and related claim expenses less the present value of estimated future net premiums where net premium equals gross premium under the contract multiplied by the net premium ratio. Related claim expenses include termination and settlement costs and exclude acquisition costs and non-claim related costs. The liability is estimated using current assumptions that include discount rate, mortality, and lapses. Assumptions are based on judgments that consider the Company’s historical experience, industry data, and other factors. For participating traditional life insurance policies, future policy benefit liabilities are calculated using a net level premium method based on guaranteed mortality and dividend fund interest rates. The liability for annual dividends represents the accrual of annual dividends earned. Terminal dividends are accrued in proportion to face amount over the life of the contract. For non-participating traditional life insurance policies (Term) and limited pay contracts (Payout, Pension), contracts are grouped into cohorts by contract type and issue year. The Company quarterly updates its estimate of cash flows using actual experience and current future cash flow assumptions, which is reflected in an updated net premium ratio used to calculate the liability. The ratio of actual and future expected claims to actual and future expected premiums determines the net premium ratio. The policy administration expense assumption is not updated after policy issuance. If actual expenses differ from the original expense assumptions, the differences are recognized in the period identified. The revised net premium ratio is used to determine the updated liability for future policy benefits as of the beginning of the reporting period, discounted at the original contract issuance rate. Changes in the liability due to current discount rates differing from original rates are included in OCI within the consolidated statement of comprehensive income. For non-participating traditional life insurance policies and limited pay contracts, the discount rate assumption used is corporate A rated forward curve. We use a forward curve based upon a Bloomberg index. The liability is remeasured each quarter with the remeasurement change reported in OCI. The locked-in discount rate is generally based on expected investment returns at contract inception for contracts issued prior to January 1, 2021 and the upper medium grade fixed income corporate instrument yield (i.e., single A) at contract inception for contracts issued after January 1, 2021. The Company developed an LDTI discount rate methodology used to calculate the LFPB for its traditional insurance liabilities and constructed a discount rate curve that references upper-medium grade (low credit risk) fixed-income instrument yields (i.e. Single-A rated Corporate bond yields) which are meant to reflect the duration characteristics of the corresponding insurance liabilities. The methodology uses observable market data, where available, and uses various estimation techniques in line with fair value guidance (such as interpolation and extrapolation) where data is limited. Discount rates are updated quarterly. For limited-payment products, gross premiums received in excess of net premiums are deferred at initial recognition as a deferred profit liability (“DPL”). DPL will be amortized in relation to the expected future benefit payments. As the calculation of the DPL is based on discounted cash flows, interest accrues on the unamortized DPL balance using the discount rate determined at contract issuance. The DPL is updated at the same time as the estimates for cash flows for the liability for future policy benefits. Any difference between the recalculated and beginning of period DPL is recognized in remeasurement gain or loss in the consolidated statements of income (loss), Remeasurement of Liability for Future Policy Benefits, part of total benefits and other deductions. On the consolidated balance sheet the DPL is recorded in the liability for future policy benefits. Additional liabilities for contract or contract feature that provide for additional benefits in addition to the account balance but are not market risk benefits or embedded derivatives (“additional insurance liabilities”) are established by estimating the expected value of death or other insurance benefits in excess of the projected contract accumulation value and recognizing the excess over the estimated life based on expected assessments (i.e., benefit ratio). The liability equals the current benefit ratio multiplied by cumulative assessments recognized to date, plus interest, less cumulative excess payments to date. These reserves are recorded within future policy benefits and other policyholders’ liabilities. The determination of this estimated future policy benefits liability is based on models that involve numerous assumptions and subjective judgments, including those regarding expected market rates of return and volatility, contract surrender and withdrawal rates, and mortality experience. There can be no assurance that actual experience will be consistent with management’s estimates. Assumptions are reviewed annually and updated with the remeasurement gain or loss reflected in total benefit expense. The Company recognizes an adjustment in OCI for the additional insurance liabilities for unrealized gains and losses not included when calculating the present value of expected assessments for the benefit ratios. The Company conducts annual premium deficiency testing except for liability for future policy benefits for non-participating traditional and limited payment contracts. The Company reviews assumptions and determines whether the sum of existing liabilities and the present value of future gross premiums is sufficient to cover the present value of future benefits to be paid and settlement costs. Anticipated investment income is considered when performing premium deficiency for long duration contracts. The anticipated investment income is projected based on current investment portfolio returns grading to long term reinvestment rates over the projection periods, based on anticipated gross reinvestment spreads, defaults and investment expenses. Premium deficiency reserves are recorded in certain instances where the policyholder liability for a particular line of business may not be deficient in the aggregate to trigger loss recognition, but the pattern of earnings may be such that profits are expected to be recognized in earlier years followed by losses in later years. This pattern of profits followed by losses is exhibited in our VISL business and is generated by the cost structure of the product or secondary guarantees in the contract. The secondary guarantee ensures that, subject to specified conditions, the policy will not terminate and will continue to provide a death benefit even if there is insufficient policy value to cover the monthly deductions and charges. We accrue for these PFBL using a dynamic approach that changes over time as the projection of future losses change. Market Risk Benefits Market risk benefits (“MRBs”) are contracts or contract features that provide protection to the contract holder from other than nominal capital market risk and expose the Company to other than nominal capital market risk. Market risk benefits include contract features that provide minimum guarantees to policyholders and include GMIB, GMDB, GMWB, GMAB, and ROP DB benefits. MRBs are identified and measured at fair value on a seriatim basis using an ascribed fee approach based upon policyholder behavior projections and risk neutral economic scenarios adjusted based on the facts and circumstances of the Company’s product features. The MRB Asset and MRB Liability will be equal to the estimated present value of benefits and risk margins less the estimated present value of ascribed fees. Ascribed fees will consist of the fee needed at policy inception date, under a stochastically generated set of risk-neutral scenarios, so that the present value of claims, including any risk charge, is equal to the present value of the projected attributed fees which will be capped at estimated present value of total policyholder contractual fees. The attributed fee percentage is considered a fixed term of the MRB feature and is held static over the life of the contract. Discount rates are updated quarterly. Changes in fair value are recognized as a remeasurement gain/loss in the Change in market risk benefits and purchased market risk benefits, part of total benefits and other deductions except for the portion of the change in the fair value due to change in the Company’s own credit risk, which is recognized in other than comprehensive income. Additionally, when an annuitization occurs (for annuitization benefits) or upon extinguishment of the account balance (for withdrawal benefits) the balance related to the MRB will be derecognized and the amount deducted (after derecognition of any related amount included in AOCI) shall be used in the calculation of the liability for future policy benefits for the payout annuity. Upon derecognition, any related balance will be removed from AOCI. The Company has issued and continues to offer certain variable annuity products with GMDB and/or contain a GMLB (collectively, the “GMxB features”) which, if elected by the policyholder after a stipulated waiting period from contract issuance, guarantees a minimum lifetime annuity based on predetermined annuity purchase rates that may be in excess of what the contract account value can purchase at then-current annuity purchase rates. This minimum lifetime annuity is based on predetermined annuity purchase rates applied to a GMIB base. The Company previously issued certain variable annuity products with GIB, GWBL, GMWB and GMAB features. The Company has also assumed reinsurance for products with GMxB features. Features in ceded reinsurance contracts that meet the definition of MRBs are accounted for at fair value. The fees used to determine the fair value of the reinsured market risk benefit are those defined in the reinsurance contract. The expected periodic future premiums would represent cash outflows and the expected future benefits would represent cash inflows in the fair value calculation. On the ceded side, the Purchased MRB will be measured considering the counterparty credit risk of the reinsurer, while the direct contract liabilities will be measured considering the instrument-specific credit risk of the insurer. As a result of the difference in the treatment of the counterparty credit risk, the fair value of the direct and ceded contracts may be different even if the contractual fees and benefits are the same. Changes in instrument-specific credit risk of the Company is included in the fair value of its market risk benefit, whether in an asset or liability position, and whether related to an issued or purchased MRB, is recognized in OCI. The counterparty credit risk of the reinsurer is recorded in the consolidated statements of income (loss).
Policyholders' Dividend	Policyholders’ Dividends The amount of policyholders’ dividends to be paid (including dividends on policies included in the Closed Block) is determined annually by the board of directors of the issuing insurance company. The aggregate amount of policyholders’ dividends is related to actual interest, mortality, morbidity and expense experience for the year and judgment as to the appropriate level of statutory surplus to be retained by the Company.
Separate Accounts	Separate Accounts Generally, Separate Accounts established under New York State Insurance Law are not chargeable with liabilities that arise from any other business of the Company. Separate Accounts assets are subject to General Account claims only to the extent Separate Accounts assets exceed separate accounts liabilities. Assets and liabilities of the Separate Account represent the net deposits and accumulated net investment earnings (loss) less fees, held primarily for the benefit of policyholders, and for which the Company does not bear the investment risk. Separate Accounts assets and liabilities are shown on separate lines in the consolidated balance sheets. Assets held in Separate Accounts are reported at quoted market values or, where quoted values are not readily available or accessible for these securities, their fair value measures most often are determined through the use of model pricing that effectively discounts prospective cash flows to present value using appropriate sector-adjusted credit spreads commensurate with the security’s duration, also taking into consideration issuer-specific credit quality and liquidity. Investment performance (including investment income, net investment gains (losses) and changes in unrealized gains (losses)) and the corresponding amounts credited to policyholders of such Separate Accounts are offset within the same line in the consolidated statements of income (loss). Deposits to Separate Accounts are reported as increases in Separate Accounts assets and liabilities and are not reported in the consolidated statements of income (loss). Mortality, policy administration and surrender charges on all policies including those funded by Separate Accounts are included in revenues. The Company reports the General Account’s interests in Separate Accounts as trading securities, at fair value in the consolidated balance sheets.
Leases	Leases The Company does not record leases with an initial term of 12 months or less in its consolidated balance sheets, but instead recognizes lease expense for these leases on a straight-line basis over the lease term. For leases with a term greater than one year, the Company records in its consolidated balance sheets at the time of lease commencement or modification a RoU operating lease asset and a lease liability, initially measured at the present value of the lease payments. Lease costs are recognized in the consolidated statements of income (loss) over the lease term on a straight-line basis. RoU operating lease assets represent the Company’s right to use an underlying asset for the lease term and RoU operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease.
Broker-Dealer Revenues, Receivables and Payables	Broker-Dealer Revenues, Receivables and Payables Certain of the Company’s subsidiaries provide investment management, brokerage and distribution services for affiliates and third parties. Third-party revenues earned from these services are reported in other income in the Company’s consolidated statement of income (loss). Receivables from and payables to clients include amounts due on cash and margin transactions. Securities owned by customers are held as collateral for receivables; such collateral is not reflected in the consolidated financial statements.
Capitalized Computer Software and Hosting Arrangements	Capitalized Computer Software and Hosting Arrangements Capitalized computer software and hosting arrangements include certain internal and external costs used to implement internal-use software and cloud computing hosting arrangements. These capitalized computer costs are included in other assets in the consolidated balance sheets and amortized on a straight-line basis over the estimated useful life of the software or term of the hosting arrangement that ranges between three
Income Taxes	Income Taxes The Company files as part of a consolidated Federal income tax return. The Company provides for federal and state income taxes currently payable, as well as those deferred due to temporary differences between the financial reporting and tax bases of assets and liabilities. Current federal income taxes are charged or credited to operations based upon amounts estimated to be payable or recoverable as a result of taxable operations for the current year. Deferred income tax assets and liabilities are recognized based on the difference between financial statement carrying amounts and income tax bases of assets and liabilities using enacted income tax rates and laws. Valuation allowances are established when management determines, based on available information, that it is more likely than not that deferred tax assets will not be realized. Under accounting for uncertainty in income taxes guidance, the Company determines whether it is more likely than not that a tax position will be sustained upon examination by the appropriate taxing authorities before any part of the benefit can be recorded in the consolidated financial statements. Tax positions are then measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement.
Recognition of Investment Management and Service Fees and Related Expenses	Recognition of Investment Management and Service Fees and Related Expenses Investment management, advisory and service fees Reported as investment management and service fees in the Company’s consolidated statements of income (loss) are investment management fees earned by EIMG as well as certain asset-based fees associated with insurance contracts. EIMG provides investment management services, to EQAT and 1290 Funds as well as two private investment trusts established in the Cayman Islands, AXA Allocation Funds Trust and AXA Offshore Multimanager Funds Trust (collectively, the “Other AXA Trusts”). The contracts supporting these revenue streams create a distinct, separately identifiable performance obligation for each day the assets are managed for the performance of a series of services that are substantially the same and have the same pattern of transfer to the customer. Accordingly, these investment management, advisory, and administrative service base fees are recorded over time as services are performed and entitle the Company to variable consideration. Base fees, generally calculated as a percentage of AUM, are recognized as revenue at month-end when the transaction price no longer is variable and the value of the consideration is determined. These fees are not subject to claw back and there is minimal probability that a significant reversal of the revenue recorded will occur. Sub-advisory and sub-administrative expenses associated with these services are calculated and recorded as the related services are performed in other operating costs and expense in the consolidated statements of income (loss) as the Company is acting in a principal capacity in these transactions and, as such, reflects these revenues and expenses on a gross basis. Distribution services Revenues from distribution services include fees received as partial reimbursement of expenses incurred in connection with the sale of certain mutual funds and the 1290 Funds and for the distribution primarily of EQAT and EQ Premier VIP Trust shares to separate accounts in connection with the sale of variable life and annuity contracts. The amount and timing of revenues recognized from performance of these distribution services often is dependent upon the contractual arrangements with the customer and the specific product sold as further described below. Most open-end management investment companies, such as U.S. funds and the EQAT and EQ Premier VIP Trusts and the 1290 Funds, have adopted a plan under Rule 12b-1 of the Investment Company Act that allows for certain share classes to pay out of assets, distribution and service fees for the distribution and sale of its shares (“12b-1 Fees”). These open-end management investment companies have such agreements with the Company, and the Company has selling and distribution agreements pursuant to which it pays sales commissions to the financial intermediaries that distribute the shares. These agreements may be terminated by either party upon notice (generally 30 days) and do not obligate the financial intermediary to sell any specific amount of shares. The Company records 12b-1 fees monthly based upon a percentage of the NAV of the funds. At month-end, the variable consideration of the transaction price is no longer constrained as the NAV can be calculated and the value of consideration is determined. These services are separate and distinct from other asset management services as the customer can benefit from these services independently of other services. The Company accrues the corresponding 12b-1 fees paid to sub-distributors monthly as the expenses are incurred. The Company is acting in a principal capacity in these transactions; as such, these revenues and expenses are recorded on a gross basis in the consolidated statements of income (loss). Other revenues Also reported as investment management and service fees in the Company’s consolidated statements of income (loss) are other revenues from contracts with customers, primarily consisting of mutual fund reimbursements and other brokerage income. Other income Revenues from contracts with customers reported as other income in the Company’s consolidated statements of income (loss) primarily consist of advisory account fees and brokerage commissions from the Company’s broker-dealer operations and sales commissions from the Company’s general agents for the distribution of non-affiliate insurers’ life insurance and annuity products. These revenues are recognized at month-end when constraining factors, such as AUM and product mix, are resolved and the transaction pricing no longer is variable such that the value of consideration can be determined. The change in deposit asset/liability accounts arising from reinsurance agreements which do not expose the reinsurer to a reasonable possibility of significant loss from insurance risk is included in other income.
Accounting and Consolidation of VIEs	Accounting and Consolidation of VIEs For all new investment products and entities developed by the Company, the Company first determines whether the entity is a VIE, which involves determining an entity’s variability and variable interests, identifying the holders of the equity investment at risk and assessing the five characteristics of a VIE. Once an entity is determined to be a VIE, the Company then determines whether it is the primary beneficiary of the VIE based on its beneficial interests. If the Company is deemed to be the primary beneficiary of the VIE, the Company consolidates the entity. Quarterly, management of the Company reviews its investment management agreements and its investments in, and other financial arrangements with, certain entities that hold client AUM to determine the entities the Company is required to consolidate under this guidance. These entities include certain mutual fund products, hedge funds, structured products, group trusts, collective investment trusts, and limited partnerships. The analysis performed to identify variable interests held, determine whether entities are VIEs or VOEs, and evaluate whether the Company has a controlling financial interest in such entities requires the exercise of judgment and is updated on a continuous basis as circumstances change or new entities are developed. The primary beneficiary evaluation generally is performed qualitatively based on all facts and circumstances, including consideration of economic interests in the VIE held directly and indirectly through related parties and entities under common control, as well as quantitatively, as appropriate. Consolidated VIEs As of December 31, 2023 and 2022, the Company consolidated limited partnerships and LLCs for which it was identified as the primary beneficiary under the VIEs model. Included in other invested assets and mortgage loans on real estate in the Company’s consolidated balance sheets at December 31, 2023 and 2022 are total assets of $1.1 billion and $410 million, respectively related to these VIEs. Non-Consolidated VIEs As of December 31, 2023 and 2022, respectively, the Company held approximately $2.5 billion and $2.3 billion of investment assets in the form of equity interests issued by non-corporate legal entities determined under the guidance to be VIEs, such as limited partnerships and limited liability companies, including CLOs, hedge funds, private equity funds and real estate-related funds. As an equity investor, the Company is considered to have a variable interest in each of these VIEs as a result of its participation in the risks and/or rewards these funds were designed to create by their defined portfolio objectives and strategies. Primarily through qualitative assessment, including consideration of related party interests or other financial arrangements, if any, the Company was not identified as the primary beneficiary of any of these VIEs, largely due to its inability to direct the activities that most significantly impact their economic performance. Consequently, the Company continues to reflect these equity interests in the consolidated balance sheets as other equity investments and applies the equity method of accounting for these positions. The net assets of these non-consolidated VIEs are approximately $268.5 billion and $282.3 billion as of December 31, 2023 and 2022, respectively. The Company’s maximum exposure to loss from its direct involvement with these VIEs is the carrying
Assumption Updates and Model Changes	Assumption Updates and Model Changes The Company conducts its annual review of its assumptions and models during the third quarter of each year. The annual review encompasses assumptions underlying the valuation of MRB, liabilities for future policyholder benefits and additional liability update. However, the Company updates its assumptions as needed in the event it becomes aware of economic conditions or events that could require a change in assumptions that it believes may have a significant impact to the carrying value of product liabilities and assets and consequently materially impact its earnings in the period of the change. MRB Update The Company updates its assumptions to reflect emerging experience for withdrawals, mortality and lapse election. This includes actuarial judgement informed by actual experience of how policy holders are expected to use these policies in the future. In addition, as part of the 2021 assumption update, the reference interest rate utilized in our GAAP fair value calculations was updated from the LIBOR swap curve to the US Treasury curve due to the impending cessation of LIBOR and our GAAP fair value liability risk margins. There were no other significant change to the process used to calculate the MRB balances. LFPB Update The significant assumptions for the LFPB balances include mortality and lapses for the Company’s Traditional life business. The primary assumption for the payout block of business is mortality. Impacts to expected net premiums and expected future policy benefits due to assumption changes in 2021 can be observed in the liability for future policy benefit rollforward tables. Additional Liability Update The significant assumptions for the additional insurance liability balances include mortality, lapses, premium payment pattern, and interest crediting assumption.
Fair Value Disclosures	U.S. GAAP establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, and identifies three levels of inputs that may be used to measure fair value: Level 1 Unadjusted quoted prices for identical instruments in active markets. Level 1 fair values generally are supported by market transactions that occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar instruments, quoted prices in markets that are not active, and inputs to model-derived valuations that are directly observable or can be corroborated by observable market data. Level 3 Unobservable inputs supported by little or no market activity and often requiring significant management judgment or estimation, such as an entity’s own assumptions about the cash flows or other significant components of value that market participants would use in pricing the asset or liability. The Company uses unadjusted quoted market prices to measure fair value for those instruments that are actively traded in financial markets. In cases where quoted market prices are not available, fair values are measured using present value or other valuation techniques. The fair value determinations are made at a specific point in time, based on available market information and judgments about the financial instrument, including estimates of the timing and amount of expected future cash flows and the credit standing of counterparties. Such adjustments do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument, nor do they consider the tax impact of the realization of unrealized gains or losses. In many cases, the fair value cannot be substantiated by direct comparison to independent markets, nor can the disclosed value be realized in immediate settlement of the instrument. Management is responsible for the determination of the value of investments carried at fair value and the supporting methodologies and assumptions. Under the terms of various service agreements, the Company often utilizes independent valuation service providers to gather, analyze, and interpret market information and derive fair values based upon relevant methodologies and assumptions for individual securities. These independent valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of widely accepted valuation models, provide a single fair value measurement for individual securities for which a fair value has been requested. As further described below with respect to specific asset classes, these inputs include, but are not limited to, market prices for recent trades and transactions in comparable securities, benchmark yields, interest rate yield curves, credit spreads, quoted prices for similar securities, and other market-observable information, as applicable. Specific attributes of the security being valued are also considered, including its term, interest rate, credit rating, industry sector, and when applicable, collateral quality and other security- or issuer-specific information. When insufficient market observable information is available upon which to measure fair value, the Company either will request brokers knowledgeable about these securities to provide a non-binding quote or will employ internal valuation models. Fair values received from independent valuation service providers and brokers and those internally modeled or otherwise estimated are assessed for reasonableness. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Fair value measurements are required on a non-recurring basis for certain assets only when an impairment or other events occur. As of December 31, 2023 and 2022, no assets or liabilities were required to be measured at fair value on a non-recurring basis.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Adoption of New Accounting Pronouncements Description Effect on the Financial Statement or Other Significant Matters ASU 2018-12: Financial Services - Insurance (Topic 944) This ASU provides targeted improvements to existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The ASU primarily impacts four key areas, including: 2. Measurement of Market Risk Benefits (“MRBs”). MRBs, as defined under the ASU, will encompass certain GMxB features associated with variable annuity products and other general account annuities with other than nominal market risk. 3. Amortization of deferred acquisition costs. The ASU simplifies the amortization of deferred acquisition costs and other balances amortized in proportion to premiums, gross profits, or gross margins, requiring such balances to be amortized on a constant level basis over the expected term of the contracts. 4. Expanded footnote disclosures. The ASU requires additional disclosures including information about significant inputs, judgements, assumptions and methods used in measurement. On January 1, 2023, the Company adopted the new accounting standard ASU 2018-12 using the modified retrospective approach, except for MRBs which will use the full retrospective approach. Refer to “Transition impact of ASU 2018-12, Financial Services- Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts” section within this note for further details. Future Adoption of New Accounting Pronouncements Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2023-07: Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures This ASU provides improvements to reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple measures of segment profit or loss, provide new segment disclosure requirements for entities with a single reportable segment and contain other disclosure requirements. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024. A calendar year public entity will adopt the ASU for its 2024 Form 10-K. The ASU should be adopted retrospectively to all periods presented in the financial statements unless it is impracticable to do so. The Company is currently assessing the additional required disclosures under the ASU including providing new segment disclosure requirements for entities with a single reportable segment. Management is evaluating the impact the adoption of this guidance will have on the Company’s consolidated financial statements. ASU 2023-09: Income Taxes (Topic 740): Improvements to Income Tax Disclosures The ASU enhanced existing income tax disclosures primarily related to the rate reconciliation and income taxes paid information. With regard to the improvements to disclosures of rate reconciliation, a public business entity is required on an annual basis to (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. Similarly, a public entity is required to provide the amount of income taxes paid (net of refunds received) disaggregated by (1) federal, state, and foreign taxes and by(2) individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5 percent of total income taxes paid (net of refunds received). The ASU also includes certain other amendments to improve the effectiveness of income tax disclosures, for example, an entity is required to provide (1) pretax income (or loss) from continuing operations disaggregated between domestic and foreign, and (2) income tax expense (or benefit) from continuing operations disaggregated by federal, state, and foreign. The ASU will be effective for annual periods beginning after December 15, 2024. Entities are required to apply the ASU on a prospective basis. The adoption of ASU 2023-09 is not expected to materially impact the Company’s financial position, results of operation, or cash flows. SEC Release Nos. 33-11275; 34-99678, The Enhancement and Standardization of Climate-Related Disclosures for Investors The SEC adopted rules requiring registrants to disclose climate-related information in registration statements and annual reports. The new rules include disclosure of material climate-related risks, including descriptions of board oversight and risk management activities. the material impacts of these risks on a registrant’s strategy, business model and outlook and any material climate-related targets or goals. In addition, registrants will need to quantify certain effects of severe weather events and other natural conditions in a note to their audited financial statements. Financial statement and all other disclosures are required at the beginning of the fiscal year 2027 with disclosures about material expenditure and impact required at the beginning of the fiscal year 2028. Disclosures are provided prospectively upon adoption. The Company is currently assessing the additional required disclosures under the SEC Release. Management is evaluating the impact of the adoption of this guidance will have on the Company’s consolidated financial statements. The following table presents the effect of transition adjustment to total equity resulting from the adoption of ASU 2018-12 as of January 1, 2021: Retained Earnings Accumulated Other Comprehensive Income Total (in millions) Liability for future policy benefits $ (2) $ (819) $ (821) Market risk benefits (3,402) (904) (4,306) DAC — 467 467 Unearned revenue liability and sales inducement assets (1) — (128) (128) Total transition adjustment before taxes (3,404) (1,384) (4,788) Income taxes 715 291 1,006 Total transition adjustment (net of taxes) $ (2,689) $ (1,093) $ (3,782) ______________ (1) Unearned revenue liability included within liability for future policy benefits financial statement line item in the consolidated balance sheets. Sales inducement assets are included in other assets in the consolidated balance sheets.
Schedule of Balance of and Changes in Liability for Future Policy Benefits	The following table summarizes the balance of and changes in liability for future policy benefits on January 1, 2021 resulting from the adoption of ASU 2018-12: Term Payout Group Health Total (in millions) Balance, December 31, 2020 $ 1,415 $ 3,047 $ 771 $ 2,100 $ 7,333 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income — (171) (85) (100) (356) Effect of remeasurement of liability at current single A rate 559 531 94 300 1,484 Balance, January 1, 2021 (1) 1,974 3,407 780 2,300 8,461 Less: Reinsurance recoverable (372) — — (1,837) (2,209) Balance, January 1, 2021, net of reinsurance $ 1,602 $ 3,407 $ 780 $ 463 $ 6,252 ______________ (1)
Schedule of Market Risk Benefit, Activity	The following table summarizes the balance of and changes in the net liability position of market risk benefits on January 1, 2021 resulting from the adoption of ASU 2018-12: GMxB Legacy GMxB Core Purchased MRB Total (in millions) Balance, December 31, 2020 $ 19,891 $ 2,206 $ (2,943) $ 19,154 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income (70) (4) — (74) Adjustments for the cumulative effect of the changes in the instrument-specific credit risk between the original contract issuance date and the transition date 461 505 5 971 Adjustments for the remaining difference (exclusive of the instrument specific credit risk change and host contract adjustments) between previous carrying amount and fair value measurement for the MRB 4,122 (563) (194) 3,365 Balance, January 1, 2021 (1) $ 24,404 $ 2,144 $ (3,132) $ 23,416 ____________ (1) MRB transition table not inclusive of the following transition adjustments to retained earnings and AOCI including EQUI-VEST of $43 million, SCS of $21 million and Group Retirement EQUI-VEST of $(20) million. The following table presents the balances and changes to the balances for market risk benefits for the GMxB benefits on deferred variable annuities: Year Ended December 31, 2023 GMxB Core Purchased MRB Core Net GMxB Core GMxB Legacy Purchased MRB Legacy (4) Net GMxB Legacy (Dollars in millions) Balance, beginning of year $ 539 $ — $ 539 $ 14,699 $ (10,492) $ 4,207 Beginning balance before changes in the instrument specific credit risk 538 — 538 15,314 (10,438) 4,876 Model changes and effect of changes in cash flow assumptions 5 (42) (37) (19) (16) (35) Actual market movement effect (466) 229 (237) (1,847) 1,464 (383) Interest accrual 72 (25) 47 770 (762) 8 Attributed fees accrued (1) 397 (273) 124 843 (538) 305 Benefit payments (47) 34 (13) (1,354) 1,175 (179) Actual policyholder behavior different from expected behavior 16 (13) 3 (14) (12) (26) Changes in future economic assumptions (191) 118 (73) (673) 426 (247) Issuances (2) — (1,294) (1,294) — (6,842) (6,842) Ending balance before changes in the instrument-specific credit risk 324 (1,266) (942) 13,020 (15,543) (2,523) Changes in the instrument-specific credit risk (3) 254 86 340 390 24 414 Balance, end of year $ 578 $ (1,180) $ (602) $ 13,410 $ (15,519) $ (2,109) Weighted-average age of policyholders (years) 64.5 64.9 N/A 73.0 73.3 N/A Net amount at risk $ 2,991 $ 2,933 N/A $ 21,136 $ 20,737 N/A _______________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Issuances are related to the Reinsurance Treaty with Equitable America. See Note 1 of the Notes to these Consolidated Financial Statements. (3) Changes are recorded in OCI. (4) Purchased MRB is the impact of non-affiliated reinsurance and affiliated reinsurance with Equitable America. Effective April 1, 2023, the Company recorded $8.2 billion of Purchased MRB as result of the Reinsurance Treaty. See Note 1 and Note 12 for additional information. Year Ended December 31, 2022 2021 GMxB Core GMxB Legacy Purchased MRB Legacy (3) Net GMxB Legacy GMxB Core GMxB Legacy Purchased MRB Legacy (3) Net Legacy (Dollars in millions) Balance, beginning of year $ 1,061 $ 20,236 $ (14,293) $ 5,943 $ 2,143 $ 24,405 $ (3,131) $ 21,274 Beginning balance before changes in the instrument specific credit risk 666 19,719 (14,287) 5,432 $ 1,639 23,944 (3,136) 20,808 Model changes and effect of changes in cash flow assumptions (5) 317 (137) 180 (279) (196) 73 (123) Actual market movement effect 1,060 3,402 (1,278) 2,124 (715) (2,968) 767 (2,201) Interest accrual 37 731 (493) 238 7 196 (124) 72 Attributed fees accrued (1) 395 882 (298) 584 386 917 (196) 721 Benefit payments (36) (1,179) 669 (510) (14) (901) 350 (551) Actual policyholder behavior different from expected behavior 19 142 (103) 39 40 78 34 112 Changes in future economic assumptions (1,596) (8,700) 5,489 (3,211) (397) (1,351) (907) (2,258) Issuances (2) — — — (1) — (11,148) (11,148) Ending balance before changes in the instrument-specific credit risk 538 15,314 (10,438) 4,876 $ 666 19,719 (14,287) 5,432 Changes in the instrument-specific credit risk (2) 1 (615) (54) (669) 395 517 (6) 511 Balance, end of year $ 539 $ 14,699 $ (10,492) $ 4,207 $ 1,061 $ 20,236 $ (14,293) $ 5,943 Weighted-average age of policyholders (years) 63.6 72.6 72.1 N/A 62.6 72.0 71.5 N/A Net amount at risk (4) $ 3,517 $ 22,631 $ 11,755 N/A $ 1,115 $ 15,901 $ 9,055 N/A _______________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Changes are recorded in OCI. (3) Purchased MRB is the impact of non-affiliated reinsurance. The following table reconciles market risk benefits by the amounts in an asset position and amounts in a liability position to the market risk benefit amounts in the consolidated balance sheets: Year Ended December 31, 2023 2022 MRB Asset MRB Liability Net MRB Purchased MRB Total MRB Asset MRB Liability Net MRB Purchased MRB Total (in millions) GMxB Core $ (410) $ 988 $ 578 $ (1,180) $ (602) $ (375) $ 914 $ 539 $ — $ 539 GMxB Legacy (103) 13,513 13,410 (15,519) (2,109) (51) 14,749 14,698 (10,493) 4,205 Other (1) (61) 69 8 (30) (22) (52) 88 36 3 39 Total $ (574) $ 14,570 $ 13,996 $ (16,729) $ (2,733) $ (478) $ 15,751 $ 15,273 $ (10,490) $ 4,783 ______________ (1) Other primarily includes Individual EQUI-VEST MRB.
Schedule of Deferred Policy Acquisition Costs	The following table summarizes the balance of and changes in DAC on January 1, 2021 resulting from the adoption of ASU 2018-12: Term UL (1) VUL (2) IUL (3) GMxB Legacy GMxB Core EI (4) IE (5) SCS EG (6) Momentum Total (in millions) Balance, December 31, 2020 $ 403 $ — $ — $ — $ 192 $ 1,635 $ 141 $ 95 $ 645 $ 581 $ 79 $ 3,771 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income — 5 6 — 8 11 13 (1) 210 53 22 327 Balance, January 1, 2020 (7) $ 403 $ 5 $ 6 $ — $ 200 $ 1,646 $ 154 $ 94 $ 855 $ 634 $ 101 $ 4,098 ______________ (1) “UL” defined as Universal Life (2) “VUL” defined as Variable Universal Life (3) “IUL” defined as Indexed Universal Life (4) “EI” defined as EQUI-VEST Individual (5) “IE” defined as Investment Edge (6) “EG” defined as EQUI-VEST Group Changes in the DAC asset were as follows: Year Ended December 31, 2023 Term UL VUL GMxB Core EI IE SCS GMxB Legacy EG Momentum CB (1) Total (in millions) Balance, beginning of year $ 362 $ 20 $ 112 $ 1,585 $ 156 $ 147 $ 1,266 $ 213 $ 711 $ 89 $ 127 $ 4,788 Capitalization 15 3 78 52 11 21 223 26 73 10 — 512 Amortization (2) (39) (1) (8) (138) (12) (14) (194) (24) (42) (17) (10) (499) Recovery of acquisition cost (3) — — — (16) (5) (4) (13) (7) (19) — — (64) Balance, end of year $ 338 $ 22 $ 182 $ 1,483 $ 150 $ 150 $ 1,282 $ 208 $ 723 $ 82 $ 117 $ 4,737 ______________ (1) “CB” defined as Closed Block (2) DAC amortization of $4 million related to Other not reflected in table above. (3) Related to the Internal Reinsurance Transaction and is recorded in other income. Year Ended December 31, 2022 Term UL VUL GMxB Core EI IE SCS GMxB Legacy EG Momentum CB Total (in millions) Balance, beginning of year $ 385 $ 14 $ 50 $ 1,639 $ 156 $ 121 $ 1,070 $ 209 $ 678 $ 94 $ 138 $ 4,554 Capitalization 18 7 67 82 12 39 365 27 74 14 — 705 Amortization (1) (41) (1) (5) (136) (12) (13) (169) (23) (41) (19) (11) (471) Balance, end of year $ 362 $ 20 $ 112 $ 1,585 $ 156 $ 147 $ 1,266 $ 213 $ 711 $ 89 $ 127 $ 4,788 ______________ (1) DAC amortization of $2 million related to Other not reflected in table above. Changes in the sales inducement assets were as follows: Year Ended December 31, 2023 2022 GMxB Core GMxB Legacy GMxB Core GMxB Legacy (in millions) Balance, beginning of year $ 137 $ 200 $ 147 $ 222 Capitalization 1 — 2 — Amortization (12) (21) (12) (22) Balance, end of year $ 126 $ 179 $ 137 $ 200 Changes in the unearned revenue liability were as follows: Year Ended December 31, 2023 2022 UL VUL UL VUL (in millions) Balance, beginning of year $ 95 $ 525 $ 80 $ 501 Capitalization 18 61 21 56 Amortization (6) (35) (6) (32) Recovery of unearned revenue (2) — — — Balance, end of year $ 105 $ 551 $ 95 $ 525
Schedule of Deferred Income	The following tables summarize the balance of and changes in sales inducement assets and unearned revenue liability on January 1, 2021 resulting from the adoption of ASU 2018-12: Sales Inducement Assets Total GMxB Legacy GMxB Core (in millions) Balance, December 31, 2020 $ 246 $ 158 $ 404 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income — — — Balance, January 1, 2021 $ 246 $ 158 $ 404 Unearned Revenue Liability Total UL VUL IUL (in millions) Balance, December 31, 2020 $ 31 $ 382 $ — $ 413 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income 29 99 — 128 Balance, January 1, 2021 $ 60 $ 481 $ — $ 541

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-Sale Fixed Maturities by Classification	The following tables provide information relating to the Company’s fixed maturities classified as AFS: AFS Fixed Maturities by Classification Amortized Allowance for Credit Losses Gross Gross Fair Value (in millions) December 31, 2023 Fixed Maturities: Corporate (1) $ 42,014 $ 4 $ 217 $ 4,960 $ 37,267 U.S. Treasury, government and agency 5,639 — 2 1,102 4,539 States and political subdivisions 525 — 9 64 470 Foreign governments 689 — 2 110 581 Residential mortgage-backed (2) 1,469 — 3 128 1,344 Asset-backed (3) 8,092 — 20 107 8,005 Commercial mortgage-backed 3,400 — 1 501 2,900 Redeemable preferred stock 56 — 3 — 59 Total at December 31, 2023 $ 61,884 $ 4 $ 257 $ 6,972 $ 55,165 December 31, 2022: Fixed Maturities: Corporate (1) $ 46,053 $ 24 $ 89 $ 6,655 $ 39,463 U.S. Treasury, government and agency 7,049 — 1 1,312 5,738 States and political subdivisions 540 — 7 76 471 Foreign governments 985 — 2 151 836 Residential mortgage-backed (2) 860 — 1 84 777 Asset-backed (3) 8,817 — 3 371 8,449 Commercial mortgage-backed 3,742 — — 572 3,170 Redeemable preferred stock 41 — 2 — 43 Total at December 31, 2022 $ 68,087 $ 24 $ 105 $ 9,221 $ 58,947 ______________ (1) Corporate fixed maturities include both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types.
Schedule of Contractual Maturities of Available-for-Sale Fixed Maturities	The contractual maturities of AFS fixed maturities as of December 31, 2023 are shown in the table below. Bonds not due at a single maturity date have been included in the table in the final year of maturity. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Contractual Maturities of AFS Fixed Maturities Amortized Cost (Less Allowance for Credit Losses) Fair Value (in millions) December 31, 2023: Contractual maturities: Due in one year or less $ 1,075 $ 1,067 Due in years two through five 12,330 11,873 Due in years six through ten 12,868 11,890 Due after ten years 22,590 18,027 Subtotal 48,863 42,857 Residential mortgage-backed 1,469 1,344 Asset-backed 8,092 8,005 Commercial mortgage-backed 3,400 2,900 Redeemable preferred stock 56 59 Total at December 31, 2023 $ 61,880 $ 55,165
Schedule of Proceeds and Gains (Losses) on Sales for Available-for-Sale Fixed Maturities	The following table shows proceeds from sales, gross gains (losses) from sales and allowance for credit losses for AFS fixed maturities: Proceeds from Sales, Gross Gains (Losses) from Sales and Allowance for Credit and Intent to Sell Losses for AFS Fixed Maturities Year Ended December 31, 2023 2022 2021 (in millions) Proceeds from sales $ 6,471 $ 11,683 $ 26,678 Gross gains on sales (1) $ 9 $ 38 $ 1,141 Gross losses on sales (2) $ (594) $ (668) $ (189) Net (increase) decrease in Allowance for Credit and Intent to Sell losses $ (67) $ (253) $ (16) ______________ (1) Includes $0 million for the year ended December 31, 2023 of gross gains related to funds withheld assets held by the Company in support of Equitable America’s reinsurance obligations to the Company. These realized gains are included in other investment gains (losses), net. (2) Includes $153 million for the year ended December 31, 2023, of gross losses related to funds withheld assets held by the Company in support of Equitable America’s reinsurance obligations to the Company. These realized losses are included in other investment gains (losses), net.
Schedule of AFS Fixed Maturities - Credit Loss Impairments	The following table sets forth the amount of credit loss impairments on AFS fixed maturities held by the Company at the dates indicated and the corresponding changes in such amounts: AFS Fixed Maturities - Credit and Intent to Sell Loss Impairments Year Ended December 31, 2023 2022 2021 (in millions) Balance, beginning of year $ 36 $ 42 $ 28 Previously recognized impairments on securities that matured, paid, prepaid or sold (65) (261) (2) Recognized impairments on securities impaired to fair value this period (1) (2) 50 246 — Credit losses recognized this period on securities for which credit losses were not previously recognized 15 — 9 Additional credit losses this period on securities previously impaired 12 9 7 Balance, end of year $ 48 $ 36 $ 42 ______________ (1) Represents circumstances where the Company determined in the current period that it intends to sell the security, or it is more likely than not that it will be required to sell the security before recovery of the security’s amortized cost. (2)
Schedule of Net Unrealized Gains (Losses) on Available-for-Sale Fixed Maturities	The tables below present a roll-forward of net unrealized investment gains (losses) recognized in AOCI: Net Unrealized Gains (Losses) on AFS Fixed Maturities Year Ended December 31, 2023 Net Unrealized Gains (Losses) on Investments DAC Policyholders’ Liabilities Deferred Income Tax Asset (Liability) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (in millions) Balance, beginning of year $ (9,116) $ — $ 21 $ 420 $ (8,675) Net investment gains (losses) arising during the period 1,753 — — — 1,753 Reclassification adjustment: Included in net income (loss) 652 — — — 652 Impact of net unrealized investment gains (losses) — — (8) 987 979 Net unrealized investment gains (losses) excluding credit losses (6,711) — 13 1,407 (5,291) Net unrealized investment gains (losses) with credit losses (4) — — 1 (3) Balance, end of year $ (6,715) $ — $ 13 $ 1,408 $ (5,294) Year Ended December 31, 2022 Balance, beginning of year $ 4,462 $ — $ (703) $ (790) $ 2,969 Net investment gains (losses) arising during the period (14,456) — — — (14,456) Reclassification adjustment: Included in net income (loss) 885 — — — 885 Other (1) — — — (1,489) (1,489) Impact of net unrealized investment gains (losses) — — 724 2,698 3,422 Net unrealized investment gains (losses) excluding credit losses (9,109) — 21 419 (8,669) Net unrealized investment gains (losses) with credit losses (7) — — 1 (6) Balance, end of year $ (9,116) $ — $ 21 $ 420 $ (8,675) Year Ended December 31, 2021 Balance, beginning of year $ 8,230 $ (466) $ (1,814) $ (1,250) $ 4,700 Transition adjustment (2) — 466 426 — 892 Net investment gains (losses) arising during the period (2,902) — — — (2,902) Reclassification adjustment: Included in Net income (loss) (835) — — — (835) Other (3) (31) — — — (31) Impact of net unrealized investment gains (losses) — — 686 460 1,146 Net unrealized investment gains (losses) excluding credit losses 4,462 — (702) (790) 2,970 Net unrealized investment gains (losses) with credit losses — — (1) — (1) Balance, end of year $ 4,462 $ — $ (703) $ (790) $ 2,969 ______________ (1) Reflects a Deferred Tax Asset valuation allowance of $1.5 billion recorded during the fourth quarter of 2022. See Note 16 of the Notes to these Consolidated Financial Statements for additional details. (2) Reflects transition adjustment of DAC and Policyholder Liabilities under the adoption of ASU 2018-12 effective January 1, 2021. (3) Effective January 1, 2021, certain preferred stock have been reclassified to other equity investments
Schedule of Continuous Gross Unrealized Losses for Available-for-Sale Fixed Maturities	The following tables disclose the fair values and gross unrealized losses of the 3,986 issues as of December 31, 2023 and the 4,798 issues as of December 31, 2022 that are not deemed to have credit losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the specified periods at the dates indicated: AFS Fixed Maturities in an Unrealized Loss Position for Which No Allowance Is Recorded Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) December 31, 2023 Fixed Maturities: Corporate $ 1,693 $ 119 $ 29,617 $ 4,839 $ 31,310 $ 4,958 U.S. Treasury, government and agency 111 2 4,361 1,100 4,472 1,102 States and political subdivisions 10 — 244 64 254 64 Foreign governments 8 1 514 109 522 110 Residential mortgage-backed 74 1 1,030 127 1,104 128 Asset-backed 238 — 5,499 107 5,737 107 Commercial mortgage-backed 62 11 2,796 490 2,858 501 Total at December 31, 2023 $ 2,196 $ 134 $ 44,061 $ 6,836 $ 46,257 $ 6,970 December 31, 2022: Fixed Maturities: Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) Corporate $ 22,034 $ 2,431 $ 15,014 $ 4,222 $ 37,048 $ 6,653 U.S. Treasury, government and agency 5,465 1,294 204 18 5,669 1,312 States and political subdivisions 91 18 158 58 249 76 Foreign governments 349 42 418 109 767 151 Residential mortgage-backed 665 49 79 35 744 84 Asset-backed 6,262 228 1,759 143 8,021 371 Commercial mortgage-backed 1,572 200 1,580 372 3,152 572 Total at December 31, 2022 $ 36,438 $ 4,262 $ 19,212 $ 4,957 $ 55,650 $ 9,219
Schedule of Financing Receivable, Allowance for Credit Loss on Mortgage Loans	The change in the allowance for credit losses for commercial, agricultural and residential mortgage loans were as follows: Year Ended December 31, 2023 2022 2021 (in millions) Allowance for credit losses on mortgage loans: Commercial mortgages: Balance, beginning of year $ 123 $ 57 $ 77 Current-period provision for expected credit losses 147 66 (20) Write-offs charged against the allowance — — — Recoveries of amounts previously written off — — — Net change in allowance 147 66 (20) Balance, end of year $ 270 $ 123 $ 57 Agricultural mortgages: Balance, beginning of year $ 6 $ 5 $ 4 Current-period provision for expected credit losses — 1 1 Write-offs charged against the allowance — — — Recoveries of amounts previously written off — — — Net change in allowance — 1 1 Balance, end of year $ 6 $ 6 $ 5 Residential mortgages: Balance, beginning of year $ — $ — $ — Current-period provision for expected credit losses 1 — — Write-offs charged against the allowance — — — Recoveries of amounts previously written off — — — Net change in allowance 1 — — Balance, end of year $ 1 $ — $ — Total allowance for credit losses $ 277 $ 129 $ 62
Schedule of Financing Receivable Credit Quality Indicators	The Company’s commercial and agricultural mortgage loans segregated by risk rating exposure were as follows: Loan to Value (“LTV”) Ratios (1) (3) December 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Commercial and agricultural mortgage loans: Commercial: 0% - 50% $ 191 $ 164 $ 129 $ 35 $ — $ 1,540 $ — $ — $ 2,059 50% - 70% 703 1,916 671 750 299 2,319 463 96 7,217 70% - 90% 308 1,197 1,236 523 245 1,384 37 35 4,965 90% plus — — 66 54 92 858 — — 1,070 Total commercial $ 1,202 $ 3,277 $ 2,102 $ 1,362 $ 636 $ 6,101 $ 500 $ 131 $ 15,311 Agricultural: 0% - 50% $ 102 $ 162 $ 191 $ 235 $ 132 $ 802 $ — $ — $ 1,624 50% - 70% 60 146 152 201 58 288 — — 905 70% - 90% — — — — — 16 — — 16 90% plus — — — — — — — — — Total agricultural $ 162 $ 308 $ 343 $ 436 $ 190 $ 1,106 $ — $ — $ 2,545 Total commercial and agricultural mortgage loans: 0% - 50% $ 293 $ 326 $ 320 $ 270 $ 132 $ 2,342 $ — $ — $ 3,683 50% - 70% 763 2,062 823 951 357 2,607 463 96 8,122 70% - 90% 308 1,197 1,236 523 245 1,400 37 35 4,981 90% plus — — 66 54 92 858 — — 1,070 Total commercial and agricultural mortgage loans $ 1,364 $ 3,585 $ 2,445 $ 1,798 $ 826 $ 7,207 $ 500 $ 131 $ 17,856 Debt Service Coverage (“DSC”) Ratios (2) (3) December 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Commercial and agricultural mortgage loans: Commercial: Greater than 2.0x $ 175 $ 693 $ 1,125 $ 1,135 $ 249 $ 3,256 $ — $ — $ 6,633 1.8x to 2.0x — — 182 167 171 662 383 96 1,661 December 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) 1.5x to 1.8x 80 1,060 234 — 162 924 — — 2,460 1.2x to 1.5x 469 687 457 — 11 838 41 — 2,503 1.0x to 1.2x 470 668 38 — 43 317 76 35 1,647 Less than 1.0x 8 169 66 60 — 104 — — 407 Total commercial $ 1,202 $ 3,277 $ 2,102 $ 1,362 $ 636 $ 6,101 $ 500 $ 131 $ 15,311 Agricultural: Greater than 2.0x $ 7 $ 50 $ 36 $ 59 $ 20 $ 179 $ — $ — $ 351 1.8x to 2.0x 18 16 56 33 23 61 — — 207 1.5x to 1.8x 12 50 31 109 17 193 — — 412 1.2x to 1.5x 46 111 148 170 98 365 — — 938 1.0x to 1.2x 47 57 68 57 26 284 — — 539 Less than 1.0x 32 24 4 8 6 24 — — 98 Total agricultural $ 162 $ 308 $ 343 $ 436 $ 190 $ 1,106 $ — $ — $ 2,545 Total commercial and agricultural mortgage loans: Greater than 2.0x $ 182 $ 743 $ 1,161 $ 1,194 $ 269 $ 3,435 $ — $ — $ 6,984 1.8x to 2.0x 18 16 238 200 194 723 383 96 1,868 1.5x to 1.8x 92 1,110 265 109 179 1,117 — — 2,872 1.2x to 1.5x 515 798 605 170 109 1,203 41 — 3,441 1.0x to 1.2x 517 725 106 57 69 601 76 35 2,186 Less than 1.0x 40 193 70 68 6 128 — — 505 Total commercial and agricultural mortgage loans $ 1,364 $ 3,585 $ 2,445 $ 1,798 $ 826 $ 7,207 $ 500 $ 131 $ 17,856 _____________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. (3) Residential mortgage loans are excluded from the above tables. LTV Ratios (1) (3) December 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Commercial and agricultural mortgage loans: Commercial: 0% - 50% $ 624 $ 130 $ — $ — $ 119 $ 1,242 $ — $ — $ 2,115 50% - 70% 2,285 1,569 906 313 623 2,254 328 — 8,278 70% - 90% 363 415 463 329 424 1,314 — 34 3,342 90% plus — — — — 35 233 — — 268 Total commercial $ 3,272 $ 2,114 $ 1,369 $ 642 $ 1,201 $ 5,043 $ 328 $ 34 $ 14,003 Agricultural: 0% - 50% $ 163 $ 182 $ 228 $ 129 $ 132 $ 725 $ — $ — $ 1,559 50% - 70% 190 185 222 68 83 267 — — 1,015 70% - 90% — — — — — 16 — — 16 90% plus — — — — — — — — — Total agricultural $ 353 $ 367 $ 450 $ 197 $ 215 $ 1,008 $ — $ — $ 2,590 Total commercial and agricultural mortgage loans: 0% - 50% $ 787 $ 312 $ 228 $ 129 $ 251 $ 1,967 $ — $ — $ 3,674 50% - 70% 2,475 1,754 1,128 381 706 2,521 328 — 9,293 70% - 90% 363 415 463 329 424 1,330 — 34 3,358 90% plus — — — — 35 233 — — 268 Total commercial and agricultural mortgage loans $ 3,625 $ 2,481 $ 1,819 $ 839 $ 1,416 $ 6,051 $ 328 $ 34 $ 16,593 DSC Ratios (2) (3) December 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Commercial and agricultural mortgage loans: Commercial: Greater than 2.0x $ 771 $ 1,159 $ 1,113 $ 102 $ 571 $ 1,911 $ — $ — $ 5,627 1.8x to 2.0x 158 215 164 197 186 477 279 — 1,676 1.5x to 1.8x 337 390 32 153 176 1,175 4 — 2,267 December 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) 1.2x to 1.5x 1,041 259 — 92 73 917 — — 2,382 1.0x to 1.2x 507 43 60 98 160 492 45 34 1,439 Less than 1.0x 458 48 — — 35 71 — — 612 Total commercial $ 3,272 $ 2,114 $ 1,369 $ 642 $ 1,201 $ 5,043 $ 328 $ 34 $ 14,003 Agricultural: Greater than 2.0x $ 51 $ 40 $ 62 $ 21 $ 12 $ 193 $ — $ — $ 379 1.8x to 2.0x 16 58 35 24 14 51 — — 198 1.5x to 1.8x 69 42 111 18 19 196 — — 455 1.2x to 1.5x 107 147 177 98 99 298 — — 926 1.0x to 1.2x 91 80 61 30 60 257 — — 579 Less than 1.0x 19 — 4 6 11 13 — — 53 Total agricultural $ 353 $ 367 $ 450 $ 197 $ 215 $ 1,008 $ — $ — $ 2,590 Total commercial and agricultural mortgage loans: Greater than 2.0x $ 822 $ 1,199 $ 1,175 $ 123 $ 583 $ 2,104 $ — $ — $ 6,006 1.8x to 2.0x 174 273 199 221 200 528 279 — 1,874 1.5x to 1.8x 406 432 143 171 195 1,371 4 — 2,722 1.2x to 1.5x 1,148 406 177 190 172 1,215 — — 3,308 1.0x to 1.2x 598 123 121 128 220 749 45 34 2,018 Less than 1.0x 477 48 4 6 46 84 — — 665 Total commercial and agricultural mortgage loans $ 3,625 $ 2,481 $ 1,819 $ 839 $ 1,416 $ 6,051 $ 328 $ 34 $ 16,593 _____________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. (3) Residential mortgage loans are excluded from the above tables. The amortized cost of residential mortgage loans by credit quality indicator and origination year was as follows: December 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Total (in millions) Performance indicators: (1) Performing $ 98 $ 121 $ 74 $ 2 $ 1 $ 2 $ 298 Nonperforming — — — — — — — Total $ 98 $ 121 $ 74 $ 2 $ 1 $ 2 $ 298 (1) The Company began investing in residential mortgages in 2023. Therefore, 2022 comparative information is not applicable.
Schedule of Age Analysis Of Past Due Mortgage Loans	The aging analysis of past-due mortgage loans were as follows: Age Analysis of Past Due Mortgage Loans (1) Accruing Loans Non-accruing Loans Total Loans Non-accruing Loans with No Allowance Interest Income on Non-accruing Loans Past Due Current Total 30-59 Days 60-89 Days 90 Total (in millions) December 31, 2023: Mortgage loans: Commercial $ 32 $ — $ — $ 32 $ 15,045 $ 15,077 $ 234 $ 15,311 $ — $ 7 Agricultural 7 5 40 52 2,474 2,526 19 2,545 — — Residential — — — — 298 298 — 298 — — Total $ 39 $ 5 $ 40 $ 84 $ 17,817 $ 17,901 $ 253 $ 18,154 $ — $ 7 December 31, 2022: Mortgage loans: Commercial $ 56 $ — $ — $ 56 $ 13,947 $ 14,003 $ — $ 14,003 $ — $ — Agricultural 3 5 13 21 2,553 2,574 16 2,590 — — Residential — — — — — — — — — — Total $ 59 $ 5 $ 13 $ 77 $ 16,500 $ 16,577 $ 16 $ 16,593 $ — $ — _______________ (1) Amounts presented at amortized cost basis.
Schedule of Unrealized and Realized Gains (Losses) from Equity Securities and Net Investment Income (Loss) from Trading Securities	The breakdown of unrealized and realized gains and (losses) on equity securities was as follows: Unrealized and Realized Gains (Losses) from Equity Securities Year Ended December 31, 2023 2022 2021 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ 31 $ (109) $ 9 Net investment gains (losses) recognized on securities sold during the period (8) (36) (2) Unrealized and realized gains (losses) on equity securities $ 23 $ (145) $ 7 The breakdown of net investment income (loss) from trading securities was as follows: Net Investment Income (Loss) from Trading Securities Year Ended December 31, 2023 2022 2021 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ 19 $ (35) $ (264) Net investment gains (losses) recognized on securities sold during the period (5) (6) 206 Unrealized and realized gains (losses) on trading securities 14 (41) (58) Interest and dividend income from trading securities 12 13 92 Net investment income (loss) from trading securities $ 26 $ (28) $ 34
Schedule of Net Investment Income	The following table breaks out net investment income (loss) by asset category: Year Ended December 31, 2023 Excluding (1) Funds Total (in millions) Fixed maturities $ 1,936 $ 828 $ 2,764 Mortgage loans on real estate 542 261 803 Other equity investments 125 (21) 104 Policy loans 199 — 199 Trading securities 26 — 26 Other investment income 8 22 30 Gross investment income (loss) 2,836 1,090 3,926 Investment expenses (229) (96) (325) Net investment income (loss) $ 2,607 $ 994 $ 3,601 Year Ended December 31, 2022 Excluding (1) Funds Total (in millions) Fixed maturities $ 2,478 $ — $ 2,478 Mortgage loans on real estate 586 — 586 Other equity investments 74 — 74 Policy loans 203 — 203 Trading securities (28) — (28) Other investment income 57 — 57 Gross investment income (loss) 3,370 — 3,370 Investment expenses (293) — (293) Net investment income (loss) $ 3,077 $ — $ 3,077 Year Ended December 31, 2021 Excluding (1) Funds Total (in millions) Fixed maturities $ 2,293 $ — $ 2,293 Mortgage loans on real estate 547 — 547 Other equity investments 525 — 525 Policy loans 209 — 209 Trading securities 34 — 34 Other investment income 47 — 47 Gross investment income (loss) 3,655 — 3,655 Investment expenses (172) — (172) Net investment income (loss) $ 3,483 $ — $ 3,483 ______________ (1) “NI Modco” represents modco arrangement on non-insulated Separate Accounts as part of the Reinsurance Treaty with Equitable America.
Schedule of Investment Gains (Losses), Net	Investment gains (losses), net including changes in the valuation allowances and credit losses are as follows: Year Ended December 31, 2023 Excluding (1) Funds Total (in millions) Fixed maturities $ (497) $ (155) $ (652) Mortgage loans on real estate (59) (90) (149) Other equity investments (1) — — — Other 1 — 1 Investment gains (losses), net $ (555) $ (245) $ (800) Year Ended December 31, 2022 Excluding (1) Funds Total (in millions) Fixed maturities $ (885) $ — $ (885) Mortgage loans on real estate (66) — (66) Other equity investments — — — Other (11) — (11) Investment gains (losses), net $ (962) $ — $ (962) Year Ended December 31, 2021 Excluding (1) Funds Total (in millions) Fixed maturities $ 834 $ — $ 834 Mortgage loans on real estate 20 — 20 Other equity investments — — — Other (1) — (1) Investment gains (losses), net $ 853 $ — $ 853 _____________ (1) “NI Modco” represents modco arrangement on non-insulated Separate Accounts as part of the Reinsurance Treaty with Equitable America.

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments by Category	The following table presents the gross notional amount and fair value of the Company’s derivatives: Derivative Instruments by Category December 31, 2023 Fair Value Notional Amount Notional Amount- FWH and NI Modco Derivative Assets Derivative Assets - FWH and NI Modco Derivative Liabilities Derivative Liabilities - FWH and NI Modco Net Derivatives (in millions) Derivatives: designated for hedge accounting (1) Cash flow hedges: Currency swaps $ 2,358 $ — $ 79 $ — $ 90 $ — $ (11) Interest swaps 952 — — — 311 — (311) Total: designated for hedge accounting 3,310 — 79 — 401 — (322) Derivatives: not designated for hedge accounting (1) Equity contracts: Futures 2,055 3,429 — — — — — Swaps 1,996 12,930 7 45 — — 52 Options 7,445 41,501 2,169 9,675 524 2,203 9,117 Interest rate contracts: Futures 1,000 6,572 — — — — — Swaps 495 2,381 34 83 1 1 115 Credit contracts: Credit default swaps 103 — — — 2 — (2) Currency contracts: Currency swaps 823 — — — 27 — (27) Other freestanding contracts: Margin — — 96 231 — — 327 Collateral — — 75 — 8,276 — (8,201) December 31, 2023 Fair Value Notional Amount Notional Amount- FWH and NI Modco Derivative Assets Derivative Assets - FWH and NI Modco Derivative Liabilities Derivative Liabilities - FWH and NI Modco Net Derivatives (in millions) Total: Not designated for hedge accounting 13,917 66,813 2,381 10,034 8,830 2,204 1,381 Embedded derivatives: SCS, SIO, MSO and IUL indexed features (2) (5) — — 7,140 — 9,081 — (1,941) Funds withheld payable (3) — — — — 100 — (100) Modco payable (4) — — (411) — — — (411) Total embedded derivatives — — 6,729 — 9,181 — (2,452) Total derivative instruments $ 17,227 $ 66,813 $ 9,189 $ 10,034 $ 18,412 $ 2,204 $ (1,393) ______________ (1) Reported in other invested assets in the consolidated balance sheets. (2) Reported in policyholders’ account balances in the consolidated balance sheets. (3) Reported in funds withheld payable in the consolidated balance sheets. (4) Recorded in amounts due from reinsurers in the consolidated balance sheets. (5) SCS embedded derivative asset is recorded as a modco receivable. This is presented net in the consolidated balance sheets. December 31, 2022 Fair Value Notional Amount Notional Amount - FWH and NI Modco Derivative Assets Derivative Assets - FWH and NI Modco Derivative Liabilities Derivative Liabilities - FWH and NI Modco Net Derivatives (in millions) Derivatives: designated for hedge accounting (1) Cash flow hedges: Currency swaps $ 1,431 $ — $ 99 $ — $ 85 $ — $ 14 Interest swaps 955 — — — 294 — (294) Total: designated for hedge accounting 2,386 — 99 — 379 — (280) Derivatives: not designated for hedge accounting (1) Equity contracts: Futures 4,320 — — — — — — Swaps 11,159 — 38 — — — 38 Options 39,863 — 7,549 — 3,396 — 4,153 Interest rate contracts: Futures 12,693 — — — — — — Swaps 1,498 — — — 166 — (166) Credit contracts: Credit default swaps 102 — — — 2 — (2) Currency contracts: Currency swaps 397 — 4 — 13 — (9) Other freestanding contracts: Margin — — 193 — — — 193 Collateral — — 142 — 4,469 — (4,327) Total: Not designated for hedge accounting 70,032 — 7,926 — 8,046 — (120) Embedded derivatives: SCS, SIO, MSO and IUL indexed features (2) — — — — 4,077 — (4,077) Funds withheld payable — — — — — — — Modco payable — — — — — — — Total embedded derivatives — — — — 4,077 — (4,077) Total derivative instruments $ 72,418 $ — $ 8,025 $ — $ 12,502 $ — $ (4,477) ______________ (1) Reported in other invested assets in the consolidated balance sheets. (2) Reported in policyholders’ account balances in the consolidated balance sheets. The following table presents the effects of derivative instruments on the consolidated statements of income and comprehensive income (loss): Year Ended December 31, 2023 Year Ended December 31, 2022 Net Net-FWH and NI modco Net Interest AOCI Net Net-FWH and NI modco Net Interest AOCI (in millions) Derivatives: designated for hedge accounting Cash flow hedges: Currency swaps $ (4) $ — $ 13 $ (23) $ (12) $ 19 $ — $ 7 $ (4) $ 24 Interest swaps (18) — 58 — (40) (86) — — — 206 Total: designated for hedge accounting (22) — 71 (23) (52) (67) — 7 (4) 230 Derivatives: not designated for hedge accounting Equity contracts: Futures (32) (266) — — — 349 — — — — Swaps (797) (1,187) — — — 2,626 — — — — Options 2,117 3,321 — — — (2,752) — — — — Interest rate contracts: Futures (9) 56 — — — (1,645) — — — — Swaps (8) 20 — — — (492) — — — — Swaptions — — — — — — — — — — Credit contracts: Credit default swaps (1) — — — — 8 — — — — Currency contracts: Currency swaps (23) — — — — 10 — — — — Currency forwards — — — — — — — — — — Other contracts: Margin — — — — — — — — — — Collateral — — — — — — — — — — Total: not designated for hedge accounting 1,247 1,944 — — — (1,896) — — — — Year Ended December 31, 2023 Year Ended December 31, 2022 Net Net-FWH and NI modco Net Interest AOCI Net Net-FWH and NI modco Net Interest AOCI (in millions) Embedded derivatives: SCS, SIO, MSO and IUL indexed features (2,357) — — — — 2,857 — — — — Funds withheld payable 858 — — — — — — — — — Modco payable (4,067) — — — — — — — — — Total embedded derivatives (5,566) — — — — 2,857 — — — — Total derivatives $ (4,341) $ 1,944 $ 71 $ (23) $ (52) $ 894 $ — $ 7 $ (4) $ 230 Year Ended December 31, 2021 Net Net - FWH and NI Modco Net Interest AOCI (in millions) Derivatives: designated for hedge accounting Cash flow hedges: Currency swaps $ (2) $ — $ — $ (45) $ 5 Interest swaps (69) — — — (87) Total: designated for hedge accounting (71) — — (45) (82) Derivatives: not designated for hedge accounting Equity contracts: Futures (607) — — — — Swaps (3,608) — — — — Options 3,883 — — — — Interest rate contracts: Futures (727) — — — — Swaps (2,316) — — — — Swaptions — — — — — Credit contracts: Credit default swaps 1 — — — — Currency contracts: Currency swaps 3 — — — — Currency forwards — — — — — Other contracts: Margin — — — — — Collateral — — — — — Total: not designated for hedge accounting (3,371) — — — — Embedded derivatives: SCS, SIO, MSO and IUL indexed features (3,760) — — — — Funds withheld payable — — — — — Modco payable — — — — — Total embedded derivatives (3,760) — — — — Total derivatives $ (7,202) $ — $ — $ (45) $ (82) _____________ (1) Reported in net derivative gains (losses) in the consolidated statements of income (loss). (2) For the years ended December 31, 2023, 2022 and 2021, investment fees of $18 million, $16 million and $15 million , respectively, are reported in net derivative gains (losses) in the consolidated statements of income (loss).
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following table presents a roll-forward of cash flow hedges recognized in AOCI: Roll-forward of Cash flow hedges in AOCI Year Ended December 31, 2023 2022 2021 (in millions) Balance, beginning of year $ 22 $ (208) $ (126) Amount recorded in AOCI Currency swaps (23) 29 (35) Interest swaps (17) 102 (183) Total amount recorded in AOCI (40) 131 (218) Amount reclassified (to) from income to AOCI Currency swaps (1) 11 (5) 40 Interest swaps (1) (22) 104 96 Total amount reclassified (to) from income to AOCI (11) 99 136 Balance, end of period (2) $ (29) $ 22 $ (208) ______________ (1) Currency swaps income is reported in net investment income in the consolidated statements of income (loss). Interest swaps income is reported in net derivative gains (losses) in the consolidated statements of income (loss). (2) The Company does not estimate the amount of the deferred losses in AOCI at years ended December 31, 2023, 2022 and 2021 which will be released and reclassified into net income (loss) over the next 12 months as the amounts cannot be reasonably estimated.
Schedule of Offsetting Financial Assets and Liabilities and Derivative Instruments	The following tables presents information about the Company’s offsetting of financial assets and liabilities and derivative instruments: Offsetting of Financial Assets and Liabilities and Derivative Instruments As of December 31, 2023 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (1) Net Amount (in millions) Assets: Derivative assets $ 12,495 $ 8,326 $ 4,169 $ (3,076) $ 1,093 Secured lending 93 — 93 — 93 Other financial assets 1,690 — 1,690 — 1,690 Other invested assets $ 14,278 $ 8,326 $ 5,952 $ (3,076) $ 2,876 Liabilities: Derivative liabilities $ 8,359 $ 8,326 $ 33 $ — $ 33 Secured lending 93 — 93 — 93 Other financial liabilities 2,370 — 2,370 — 2,370 Other liabilities $ 10,822 $ 8,326 $ 2,496 $ — $ 2,496 ______________ (1) Financial instruments sent (held). As of December 31, 2022 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (1) Net Amount (in millions) Assets: Derivative assets $ 8,024 $ 6,980 $ 1,044 $ (848) $ 196 Secured lending — — — — — Other financial assets 1,791 — 1,791 — 1,791 Other invested assets $ 9,815 $ 6,980 $ 2,835 $ (848) $ 1,987 Liabilities: Derivative liabilities $ 7,577 $ 6,980 $ 597 $ — $ 597 Secured lending — — — — — Other financial liabilities 2,081 — 2,081 — 2,081 Other liabilities $ 9,658 $ 6,980 $ 2,678 $ — $ 2,678 ______________ (1) Financial instruments sent (held).

CLOSED BLOCK (Tables)

CLOSED BLOCK (Tables)	12 Months Ended
	Dec. 31, 2023
Closed Block Disclosure [Abstract]
Schedule of Closed Block Assets and Liabilities	Summarized financial information for the Company’s Closed Block is as follows: December 31, 2023 2022 (in millions) Closed Block Liabilities: Future policy benefits, policyholders’ account balances and other $ 5,461 $ 5,692 Policyholder dividend obligation — — Other liabilities 57 68 Total Closed Block liabilities 5,518 5,760 Assets Designated to the Closed Block: Fixed maturities AFS, at fair value (amortized cost of $2,945 and $3,171) (allowance for credit losses of $0 and $0) 2,800 2,948 Mortgage loans on real estate (net of allowance for credit losses of $13 and $4) 1,612 1,645 Policy loans 554 569 Cash and other invested assets 58 — Other assets 150 187 Total assets designated to the Closed Block 5,174 5,349 Excess of Closed Block liabilities over assets designated to the Closed Block 344 411 Amounts included in AOCI: Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $0 and $0; and net of income tax: $31 and $47 (115) (177) Maximum future earnings to be recognized from Closed Block assets and liabilities $ 229 $ 234
Schedule of Closed Block Operations, Net Results	The Company’s Closed Block revenues and expenses were as follows: Year Ended December 31, 2023 2022 2021 (in millions) Revenues: Premiums and other income $ 115 $ 125 $ 144 Net investment income (loss) 209 221 237 Investment gains (losses), net (8) (3) 4 Total revenues 316 343 385 Benefits and Other Deductions: Policyholders’ benefits and dividends 309 330 375 Other operating costs and expenses — 2 3 Total benefits and other deductions 309 332 378 Net income (loss), before income taxes 7 11 7 Income tax (expense) benefit (2) 3 (3) Net income (loss) $ 5 $ 14 $ 4

DAC AND OTHER DEFERRED ASSETS_2

DAC AND OTHER DEFERRED ASSETS/LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Contract Holder Bonus Interest Credits [Abstract]
Schedule of Reconciliation of Deferred Acquisition Cost	The following table presents a reconciliation of DAC to the consolidated balance sheets: December 31, 2023 2022 (in millions) Term $ 338 $ 362 UL 22 20 VUL 182 112 GMxB Core 1,483 1,585 EQUI-VEST Individual 150 156 Investment Edge 150 147 SCS 1,282 1,266 GMxB Legacy 208 213 EQUI-VEST Group 723 711 Momentum 82 89 Closed Block 117 127 Other 22 26 Total $ 4,759 $ 4,814
Schedule of Deferred Policy Acquisition Costs	The following table summarizes the balance of and changes in DAC on January 1, 2021 resulting from the adoption of ASU 2018-12: Term UL (1) VUL (2) IUL (3) GMxB Legacy GMxB Core EI (4) IE (5) SCS EG (6) Momentum Total (in millions) Balance, December 31, 2020 $ 403 $ — $ — $ — $ 192 $ 1,635 $ 141 $ 95 $ 645 $ 581 $ 79 $ 3,771 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income — 5 6 — 8 11 13 (1) 210 53 22 327 Balance, January 1, 2020 (7) $ 403 $ 5 $ 6 $ — $ 200 $ 1,646 $ 154 $ 94 $ 855 $ 634 $ 101 $ 4,098 ______________ (1) “UL” defined as Universal Life (2) “VUL” defined as Variable Universal Life (3) “IUL” defined as Indexed Universal Life (4) “EI” defined as EQUI-VEST Individual (5) “IE” defined as Investment Edge (6) “EG” defined as EQUI-VEST Group Changes in the DAC asset were as follows: Year Ended December 31, 2023 Term UL VUL GMxB Core EI IE SCS GMxB Legacy EG Momentum CB (1) Total (in millions) Balance, beginning of year $ 362 $ 20 $ 112 $ 1,585 $ 156 $ 147 $ 1,266 $ 213 $ 711 $ 89 $ 127 $ 4,788 Capitalization 15 3 78 52 11 21 223 26 73 10 — 512 Amortization (2) (39) (1) (8) (138) (12) (14) (194) (24) (42) (17) (10) (499) Recovery of acquisition cost (3) — — — (16) (5) (4) (13) (7) (19) — — (64) Balance, end of year $ 338 $ 22 $ 182 $ 1,483 $ 150 $ 150 $ 1,282 $ 208 $ 723 $ 82 $ 117 $ 4,737 ______________ (1) “CB” defined as Closed Block (2) DAC amortization of $4 million related to Other not reflected in table above. (3) Related to the Internal Reinsurance Transaction and is recorded in other income. Year Ended December 31, 2022 Term UL VUL GMxB Core EI IE SCS GMxB Legacy EG Momentum CB Total (in millions) Balance, beginning of year $ 385 $ 14 $ 50 $ 1,639 $ 156 $ 121 $ 1,070 $ 209 $ 678 $ 94 $ 138 $ 4,554 Capitalization 18 7 67 82 12 39 365 27 74 14 — 705 Amortization (1) (41) (1) (5) (136) (12) (13) (169) (23) (41) (19) (11) (471) Balance, end of year $ 362 $ 20 $ 112 $ 1,585 $ 156 $ 147 $ 1,266 $ 213 $ 711 $ 89 $ 127 $ 4,788 ______________ (1) DAC amortization of $2 million related to Other not reflected in table above. Changes in the sales inducement assets were as follows: Year Ended December 31, 2023 2022 GMxB Core GMxB Legacy GMxB Core GMxB Legacy (in millions) Balance, beginning of year $ 137 $ 200 $ 147 $ 222 Capitalization 1 — 2 — Amortization (12) (21) (12) (22) Balance, end of year $ 126 $ 179 $ 137 $ 200 Changes in the unearned revenue liability were as follows: Year Ended December 31, 2023 2022 UL VUL UL VUL (in millions) Balance, beginning of year $ 95 $ 525 $ 80 $ 501 Capitalization 18 61 21 56 Amortization (6) (35) (6) (32) Recovery of unearned revenue (2) — — — Balance, end of year $ 105 $ 551 $ 95 $ 525

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	Assets and liabilities measured at fair value on a recurring basis are summarized below. Fair Value Measurements as of December 31, 2023 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments: Fixed maturities, AFS: Corporate (1) $ — $ 35,197 $ 2,070 $ 37,267 U.S. Treasury, government and agency — 4,539 — 4,539 States and political subdivisions — 443 27 470 Foreign governments — 581 — 581 Residential mortgage-backed (2) — 1,344 — 1,344 Asset-backed (3) — 7,981 24 8,005 Commercial mortgage-backed — 2,894 6 2,900 Redeemable preferred stock — 59 — 59 Total fixed maturities, AFS — 53,038 2,127 55,165 Other equity investments 150 445 54 649 Trading securities 207 50 — 257 Other invested assets: Short-term investments — 414 — 414 Assets of consolidated VIEs/VOEs — — 3 3 Swaps — (180) — (180) Credit default swaps — (2) — (2) Options — 9,117 — 9,117 Total other invested assets — 9,349 3 9,352 Cash equivalents 1,917 616 — 2,533 Purchased market risk benefits — — 16,729 16,729 Assets for market risk benefits — — 574 574 Separate Accounts assets (4) 118,353 2,617 — 120,970 Modco payable (5) — — (411) (411) SCS, SIO, MSO and IUL indexed features’ asset — 7,140 — 7,140 Total Assets $ 120,627 $ 73,255 $ 19,076 $ 212,958 Liabilities: SCS, SIO, MSO and IUL indexed features’ liability (6) — 9,081 — 9,081 Liabilities for market risk benefits — — 14,570 14,570 Funds withheld payable (7) — — 100 100 Total Liabilities $ — $ 9,081 $ 14,670 $ 23,751 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types. (4) Separate Accounts assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate. As of December 31, 2023 the fair value of such investments was $371 million. (5) Reflected in Amounts due from reinsurers. (6) SCS embedded derivative asset is recorded as a modco receivable. This is presented net in the consolidated balance sheets. (7) As discussed in Note 2, the funds withheld payable is created through a funds withheld and modified coinsurance arrangements where the investments supporting the reinsurance agreement are withheld by and continue to reside on the Company’s consolidated balance sheet. This embedded derivative is valued as a total return swap with references to the fair value of the invested assets held by the Company, which are primarily available for sale securities.. Fair Value Measurements as of December 31, 2022 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments: Fixed maturities, AFS: Corporate (1) $ — $ 37,360 $ 2,103 $ 39,463 U.S. Treasury, government and agency — 5,738 — 5,738 States and political subdivisions — 442 29 471 Foreign governments — 836 — 836 Residential mortgage-backed (2) — 777 — 777 Asset-backed (3) — 8,449 — 8,449 Commercial mortgage-backed — 3,138 32 3,170 Redeemable preferred stock — 43 — 43 Total fixed maturities, AFS — 56,783 2,164 58,947 Other equity investments 137 478 12 627 Trading securities 160 123 — 283 Other invested assets: Short-term investments — 485 — 485 Assets of consolidated VIEs/VOEs — — 5 5 Swaps — (416) — (416) Credit default swaps — (2) — (2) Options — 4,153 — 4,153 Total other invested assets — 4,220 5 4,225 Cash equivalents 397 258 — 655 Purchased market risk benefits — — 10,490 10,490 Assets for market risk benefits — — 478 478 Separate Accounts assets (4) 108,378 2,429 1 110,808 Modco payable — — — — Total Assets $ 109,072 $ 64,291 $ 13,150 $ 186,513 Liabilities: SCS, SIO, MSO and IUL indexed features’ liability (5) — 4,077 — 4,077 Liabilities for market risk benefits — — 15,751 15,751 Funds withheld payable — — — — Total Liabilities $ — $ 4,077 $ 15,751 $ 19,828 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types. (4) Separate Accounts assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate and commercial mortgages. As of December 31, 2022 the fair value of such investments was $456 million. (5) SCS embedded derivative asset is recorded as a modco receivable. This is presented net in the consolidated balance sheets.
Schedule of Reconciliation of Assets and Liabilities at Level 3	The tables below present reconciliations for all Level 3 assets and liabilities and changes in unrealized gains (losses). Not included below are the changes in balances related to market risk benefits and purchased market risk benefits level 3 assets and liabilities, which are included in Note 9 of the Notes to these Consolidated Financial Statements. Year Ended December 31, 2023 Corporate State and Political Subdivisions Asset-backed CMBS (in millions) Balance, beginning of year $ 2,103 $ 29 $ — $ 32 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 6 — — — Investment gains (losses), net (17) — — — Subtotal (11) — — — Other comprehensive income (loss) 50 — — (1) Purchases 514 — 24 2 Sales (272) (2) — — Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) 11 — — — Transfers out of Level 3 (1) (325) — — (27) Balance, end of year $ 2,070 $ 27 $ 24 $ 6 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ 4 $ — $ — $ (1) _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of December 31, 2023 amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. Year Ended December 31, 2023 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable (in millions) Balance, beginning of year $ 17 $ 1 $ — $ — Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income (2) — — — Net derivative gains (losses) — — — — Total realized and unrealized gains (losses) (2) — — — Other comprehensive income (loss) — — — — Purchases 43 — — — Sales — — — — Change in fair value of funds withheld assets — — 100 (411) Other — — — — Activity related to consolidated VIEs/VOEs (1) — — — Transfers into Level 3 (1) — — — — Transfers out of Level 3 (1) — (1) — — Balance, end of year $ 57 $ — $ 100 $ (411) Year Ended December 31, 2023 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ (2) $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ — $ — $ — $ — _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of December 31, 2023, amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. (3) Other Equity Investments include other invested assets. Year Ended December 31, 2022 Corporate State and Political Subdivisions Asset-backed CMBS (in millions) Balance, beginning of year $ 1,493 $ 35 $ 8 $ 20 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 5 — — — Investment gains (losses), net (5) — — — Subtotal — — — — Other comprehensive income (loss) (157) (5) — (2) Purchases 1,093 — — 14 Sales (379) (1) (2) — Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) 168 — — — Transfers out of Level 3 (1) (115) — (6) — Balance, end of year $ 2,103 $ 29 $ — $ 32 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ (154) $ (5) $ — $ (2) _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of December 31, 2022 amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. Year Ended December 31, 2022 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable (in millions) Balance, beginning of period $ 13 $ 1 $ — $ — Realized and unrealized gains (losses), included in Net income (loss) as: Year Ended December 31, 2022 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable (in millions) Investment gains (losses), reported in net investment income (1) — — — Net derivative gains (losses) — — — — Total realized and unrealized gains (losses) (1) — — — Other comprehensive income (loss) — — — — Purchases 8 — — — Sales — — — — Other — — — — Activity related to consolidated VIEs/VOEs (3) — — — Transfers into Level 3 (1) — — — — Transfers out of Level 3 (1) — — — — Balance, end of period $ 17 $ 1 $ — $ — Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ (1) $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ — $ — $ — $ — _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of December 31, 2022, amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. (3) Other Equity Investments include other invested assets. Year Ended December 31, 2021 Corporate State and Political Subdivisions Asset-backed CMBS (in millions) Balance, beginning of year $ 1,687 $ 39 $ 20 $ — Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 5 — — — Investment gains (losses), net (16) — — — Subtotal (11) — — — Other comprehensive income (loss) 34 (2) — — Purchases 937 — 6 20 Sales (468) (2) (18) — Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) 27 — — — Transfers out of Level 3 (1) (713) — — — Balance, end of year $ 1,493 $ 35 $ 8 $ 20 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ 28 $ (2) $ — $ — _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of December 31, 2021 amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. Year Ended December 31, 2021 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable (in millions) Balance, beginning of period $ 15 $ 1 $ — $ — Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income 2 — — — Net derivative gains (losses) — — — — Total realized and unrealized gains (losses) 2 — — — Other comprehensive income (loss) — — — — Purchases 1 1 — — Sales (1) — — — Other — — — — Activity related to consolidated VIEs/VOEs (4) — — — Transfers into Level 3 (1) — — — — Transfers out of Level 3 (1) — (1) — — Balance, end of period $ 13 $ 1 $ — $ — Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ 2 $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ — $ — $ — $ — _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of December 31, 2021, amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. (3)
Schedule of Quantitative Information About Level 3 Fair Value Measurement	The following tables disclose quantitative information about Level 3 fair value measurements by category for assets and liabilities: Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2023 Fair Valuation Technique Significant Range Weighted Average (2) (Dollars in millions) Assets: Investments: Fixed maturities, AFS: Corporate $ 330 Matrix pricing model Spread over benchmark 20 bps - 747 bps 187 bps 979 Market comparable companies EBITDA multiples Discount rate Cash flow multiples Loan to value 3.3x - 29.0x 0.0% - 22.8% 0.8x - 10.0x 3.4% - 61.0% 13.6x 3.9% 6.3x 13.8% Fair Valuation Technique Significant Range Weighted Average (2) Other equity investments 2 Discounted Cash Flow Earnings multiple 6.5x - 6.2x 6.0x Purchased MRB asset (1) (2) (4) 16,729 Discounted cash flow Lapse rates Withdrawal rates GMIB utilization rates Non-performance risk Volatility rates - equity Mortality: Ages 0-40 Ages 41-60 Ages 61-115 0.21% - 29.37% 0.00% - 14.97% 0.04% - 100.00% 23 bps - 97 bps 11% - 28% 0.01% - 0.18% 0.07% - 0.53% 0.33% - 42.00% 2.75% 0.55% 5.51% 35 bps 23% 2.87% (same for all ages) (same for all ages) Liabilities: (5) Direct MRB (1) (2) (3) (4) $ 13,996 Discounted cash flow Non-performance risk Lapse rates Withdrawal rates Annuitization Mortality (1): Ages 0-40 Ages 41-60 Ages 61-115 118 bps 0.21% - 29.37% 0.00% - 14.97% 0.04% - 100.00% 0.01% - 0.18% 0.07% - 0.53% 0.33% - 42.00% 118 bps 3.03% 0.64% 5.44% 2.63% (same for all ages) (same for all ages) ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. (2) For lapses, withdrawals, and utilizations the rates were weighted by counts, for mortality weighted average rates are shown for all ages combined and for withdrawals the weighted averages were based on an estimated split of partial withdrawal and dollar-for-dollar withdrawals. (3) MRB liabilities are shown net of MRB assets. Net amount is made up of $14.6 billion of MRB liabilities and $574 million of MRB assets. (4) Includes Legacy and Core products. (5) Funds withheld and modco payable that contain embedded derivatives held at fair value are excluded from the tables above. The funds withheld payable embedded derivative utilizes a total return swap technique which incorporates the fair value of the invested assets supporting the reinsurance agreement as a component of the valuation. Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2022 Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average (2) (Dollars in millions) Assets: Investments: Fixed maturities, AFS: Corporate $ 413 Matrix pricing model Spread over benchmark 20 - 797 bps 204 bps 1,029 Market comparable companies EBITDA multiples Cash flow multiples Loan to value 5.3x - 35.8x 9.0% - 45.7% 0.0x -10.3x 0.0%-40.4% 13.6x 11.9% 6.1x 12.0% Other equity investments 4 Market comparable companies Revenue multiple 0.5x - 10.8x 2.4x Purchased MRB asset (1) (2) (4) 10,490 Discounted cash flow Lapse rates Withdrawal rates GMIB utilization rates Non-performance risk (bps) Volatility rates - Equity Mortality: Ages 0-40 Ages 41 - 60 Ages 61 - 115 0.26% - 26.23% 0.06%-10.93% 0.04%-66.66% 54 bps - 124 bps 14%-32% 0.01%-0.17% 0.06%-0.52% 0.32%-40.00% 1.58% 0.69% 7.39% 69 bps 24% 2.87% (same for all ages) (same for all ages) Liabilities: Direct MRB (1) (2) (3) (4) $ 15,273 Discounted cash flow Non-performance risk Lapse rates Withdrawal rates Annuitization rates Mortality: Ages 0-40 Ages 41 - 60 Ages 61 - 115 157 bps 0.26%-35.42% 0.00%-10.93% 0.04%-100.00% 0.01%-0.17% 0.06%-0.52% 0.32%-40.00% 157 bps 2.97% 0.68% 5.50% 2.41% (same for all ages) (same for all ages) ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. (2) Lapses and pro-rata withdrawal rates were developed as a function of the policy account value. Dollar for dollar withdrawal rates were developed as a function of the dollar for dollar threshold, the dollar for dollar limit. GMIB utilization rates were developed as a function of the GMIB benefit base. (3) MRB liabilities are shown net of MRB assets. Net amount is made up of $15.8 billion of MRB liabilities and $478 million of MRB assets. (4) Includes Legacy and Core products.
Schedule of Fair Value Disclosure Financial Instruments Not Carried At Fair Value	The carrying values and fair values for financial instruments not otherwise disclosed in Note 3 and Note 4 of the Notes to these Consolidated Financial Statements were as follows: Carrying Values and Fair Values for Financial Instruments Not Otherwise Disclosed Carrying Value Fair Value Level 1 Level 2 Level 3 Total (in millions) December 31, 2023: Mortgage loans on real estate $ 17,877 $ — $ — $ 16,174 $ 16,174 Policy loans $ 3,667 $ — $ — $ 3,961 $ 3,961 Loans to affiliates $ 1,900 $ — $ 1,790 $ — $ 1,790 Policyholders’ liabilities: Investment contracts $ 1,554 $ — $ — $ 1,526 $ 1,526 Funds withheld payable $ 10,503 $ — $ — $ 10,503 $ 10,503 Modco payable (1) $ 29,912 $ — $ — $ 29,912 $ 29,912 FHLB funding agreements $ 7,618 $ — $ 7,567 $ — $ 7,567 FABN funding agreements $ 6,267 $ — $ 5,840 $ — $ 5,840 Funding agreement-backed commercial paper (FABCP) $ 939 $ — $ 948 $ — $ 948 Separate Accounts liabilities $ 10,343 $ — $ — $ 10,343 $ 10,343 December 31, 2022: Mortgage loans on real estate $ 16,464 $ — $ — $ 14,675 $ 14,675 Policy loans $ 3,563 $ — $ — $ 3,850 $ 3,850 Loans to affiliates $ 1,900 $ — $ 1,755 $ — $ 1,755 Policyholders’ liabilities: Investment contracts $ 1,801 $ — $ — $ 1,645 $ 1,645 Funds withheld payable $ — $ — $ — $ — $ — Modco payable $ — $ — $ — $ — $ — FHLB funding agreements $ 8,505 $ — $ 8,390 $ — $ 8,390 FABN funding agreements $ 7,095 $ — $ 6,384 $ — $ 6,384 Separate Accounts liabilities $ 10,236 $ — $ — $ 10,236 $ 10,236 ______________ (1) Modco payable is reported in amounts due from reinsurers in the consolidated balance sheets.

LIABILITIES FOR FUTURE POLICY_2

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Schedule of Policyholder Account Balance And Liability for Unpaid Claims and Claims Adjustment Expense	The following table reconciles the net liability for future policy benefits and liability of death benefits to the liability for future policy benefits in the consolidated balance sheets: December 31, 2023 December 31, 2022 (in millions) Reconciliation Term $ 1,341 $ 1,359 Payout - Non-Legacy 844 828 Payout - Legacy 3,620 2,689 Group Pension - Benefit Reserve & DPL 490 523 Health 1,505 1,560 UL 1,220 1,119 Subtotal 9,020 8,078 Whole Life Closed Block and Open Block products 5,463 5,687 Other (1) 657 608 Future policyholder benefits total 15,140 14,373 Other policyholder funds and dividends payable 1,433 1,562 Total $ 16,573 $ 15,935 ______________ (1) Primarily consists of future policy benefits related to Assumed Life and Disability, Group Life Run off, Variable Interest Sensitive Life rider and Major Medical products.
Schedule of Policyholder Account Balance	The following table summarizes balances and changes in the liability for future policy benefits for nonparticipating traditional and limited pay contracts: Year Ended December 31, 2023 Year Ended December 31, 2022 Term Payout - Non-Legacy Payout-Legacy Group Pension Health Term Payout-Non-Legacy Payout-Legacy Group Pension Health (in millions) Present Value of Expected Net Premiums Balance, beginning of year $ 2,090 $ — $ — $ — $ (6) $ 2,472 $ — $ — $ — $ 22 Beginning balance at original discount rate 2,069 — — — (6) 1,854 — — — 19 Effect of changes in cash flow assumptions 47 — — — (6) 204 — — — (10) Effect of actual variances from expected experience (36) — — — (12) 30 — — — (16) Adjusted beginning of period balance 2,080 — — — (24) 2,088 — — — (7) Issuances 64 — — — — 76 — — — — Year Ended December 31, 2023 Year Ended December 31, 2022 Term Payout - Non-Legacy Payout-Legacy Group Pension Health Term Payout-Non-Legacy Payout-Legacy Group Pension Health (in millions) Interest accrual 100 — — — (1) 97 — — — — Net premiums collected (194) — — — 3 (192) — — — 1 Ending Balance at original discount rate 2,051 — — — (22) 2,069 — — — (6) Effect of changes in discount rate assumptions 74 — — — 1 21 — — — — Balance, end of year $ 2,125 $ — $ — $ — $ (21) $ 2,090 $ — $ — $ — $ (6) Present Value of Expected Future Policy Benefits Balance, beginning of period $ 3,449 $ 828 $ 2,689 $ 523 $ 1,554 $ 4,274 $ 1,114 $ 2,547 $ 683 $ 2,092 Beginning balance of original discount rate 3,376 845 3,024 583 1,795 3,225 883 2,400 632 1,915 Effect of changes in cash flow assumptions 59 — — — (6) 221 (2) (2) — (5) Effect of actual variances from expected experience (43) — (3) — (22) 30 (1) (3) 1 (13) Adjusted beginning of period balance 3,392 845 3,021 583 1,767 3,476 880 2,395 633 1,897 Issuances 70 47 996 — — 83 23 758 — — Interest accrual 166 39 88 19 57 166 40 63 21 61 Benefits payments (311) (91) (265) (66) (152) (349) (98) (192) (71) (163) Ending balance at original discount rate 3,317 840 3,840 536 1,672 3,376 845 3,024 583 1,795 Effect of changes in discount rate assumptions 149 4 (220) (46) (188) 73 (17) (335) (60) (241) Balance, end of period $ 3,466 $ 844 $ 3,620 $ 490 $ 1,484 $ 3,449 $ 828 $ 2,689 $ 523 $ 1,554 Net liability for future policy benefits $ 1,341 $ 844 $ 3,620 $ 490 $ 1,505 $ 1,359 $ 828 $ 2,689 $ 523 $ 1,560 Less: Reinsurance recoverable (210) (29) (1,309) — (1,191) (209) — (466) 1 (1,242) Net liability for future policy benefits, after reinsurance recoverable $ 1,131 $ 815 $ 2,311 $ 490 $ 314 $ 1,150 $ 828 $ 2,223 $ 524 $ 318 Weighted-average duration of liability for future policyholder benefits (years) 7.0 9.3 7.7 7.1 8.7 7.0 9.5 8.1 7.2 8.7 The following table reconciles the policyholders account balances to the policyholders’ account balance liability in the consolidated balance sheets: Year Ended December 31, 2023 2022 (in millions) Policyholders’ account balance reconciliation UL $ 5,202 $ 5,341 VUL 4,145 4,253 GMxB Legacy 618 688 GMxB Core (5) 42 SCS 40,649 35,460 EQUI-VEST Individual 2,322 2,652 EQUI-VEST Group 11,563 12,046 Momentum 608 703 Other (1) 2,995 2,916 Balance (exclusive of Funding Agreements) 68,097 64,101 Funding Agreements 14,893 15,641 Balance, end of year $ 82,990 $ 79,742 _______________ (1) Primarily reflects products, IR Payout, IR Other, Investment Edge, Association, Indexed Universal Life, Group Pension and Closed Block. The following tables summarize the balances and changes in policyholder’s account balances: Year Ended December 31, 2023 Universal Life Variable Universal Life GMxB Legacy GMxB Core SCS (1) EQUI-VEST Individual EQUI-VEST Group Momentum (Dollars in millions) Balance, beginning of year $ 5,341 $ 4,253 $ 688 $ 42 $ 35,460 $ 2,652 $ 12,046 $ 703 Issuances — — — — — — — — Premiums received 698 114 98 43 9 37 626 70 Policy charges (761) (217) 9 3 (8) — (4) (1) Surrenders and withdrawals (79) (44) (97) (33) (2,853) (378) (1,704) (153) Benefit payments (219) (112) (103) (2) (249) (70) (71) (4) Net transfers from (to) separate account — (33) (4) (62) 2,569 6 272 (21) Interest credited (2) 222 184 27 4 5,721 72 387 14 Other — — — — — 3 11 — Balance, end of year $ 5,202 $ 4,145 $ 618 $ (5) $ 40,649 $ 2,322 $ 11,563 $ 608 Weighted-average crediting rate 3.77 % 3.75 % 2.71 % 1.29 % N/A 2.84 % 2.66 % 2.33 % Net amount at risk (3) $ 35,490 $ 83,050 $ 21,136 $ 2,991 $ 1 $ 109 $ 10 $ — Cash surrender value $ 3,423 $ 2,644 $ 572 $ 216 $ 37,816 $ 2,315 $ 11,506 $ 609 Year Ended December 31, 2022 Universal Life Variable Universal Life GMxB Legacy GMxB Core SCS (1) EQUI-VEST Individual EQUI-VEST Group Momentum (Dollars in millions) Balance, beginning of year $ 5,462 $ 4,193 $ 746 $ 99 $ 33,443 $ 2,784 $ 11,952 $ 705 Issuances — — — — — — — — Premiums received 730 143 72 134 2 46 610 79 Policy charges (789) (210) 6 (19) — (1) (5) — Surrenders and withdrawals (86) (12) (72) (30) (2,452) (225) (995) (148) Benefit payments (200) (85) (99) (2) (209) (59) (70) (2) Net transfers from (to) separate account — 75 5 (146) 7,229 28 303 54 Interest credited (2) 224 149 30 6 (2,553) 79 251 15 Other — — — — — — — — Balance, end of year $ 5,341 $ 4,253 $ 688 $ 42 $ 35,460 $ 2,652 $ 12,046 $ 703 Weighted-average crediting rate 3.62% 3.86% 1.80% 1.05% 1.12% 2.85% 3.00% 2.02% Net amount at risk (3) $ 37,555 $ 85,086 $ 22,631 $ 3,517 $ 92 $ 143 $ 138 $ — Cash surrender value $ 3,483 $ 2,838 $ 980 $ 264 $ 31,856 $ 2,645 $ 11,961 $ 702 ______________ (1) SCS sales are recorded as a Separate Account liability until they are swept into the General Account. This sweep is recorded as Net Transfers from (to) separate account. (2) SCS and EQUI-VEST Group includes amounts related to the change in embedded derivative. (3) For life insurance products the net amount at risk is death benefit less account value for the policyholder. For variable annuity products the net amount risk is the maximum GMxB NAR for the policyholder. The following table reconciles the Separate Account liabilities to the Separate Account liability balance in the consolidated balance sheets: Year Ended December 31, 2023 2022 (in millions) Separate Account Reconciliation VUL 13,694 $ 11,535 GMxB Legacy 33,793 32,616 GMxB Core 27,664 27,017 EQUI-VEST Individual 4,584 4,162 Investment Edge 4,048 3,772 EQUI-VEST Group 26,960 22,393 Momentum 4,421 3,884 Other (1) 6,333 6,100 Total $ 121,497 $ 111,479 _____________ (1) Primarily reflects Corporate and Other products and Employer Sponsored products including Association and Other. The following tables present the balances of and changes in Separate Account liabilities: Year Ended December 31, 2023 VUL GMxB Legacy GMxB Core EQUI-VEST Individual Investment Edge EQUI-VEST Group Momentum (in millions) Balance, beginning of year $ 11,535 $ 32,616 $ 27,017 $ 4,162 $ 3,772 $ 22,393 $ 3,884 Premiums and deposits 788 219 472 93 332 2,174 644 Policy charges (429) (656) (473) (2) — (18) (21) Surrenders and withdrawals (512) (2,826) (2,566) (428) (406) (1,750) (820) Benefit payments (61) (728) (219) (57) (39) (55) (13) Investment performance (1) 2,340 5,164 3,371 818 528 4,463 726 Net transfers from (to) general account 33 4 62 (6) (139) (272) 21 Other charges (2) — — — 4 — 25 — Balance, end of year $ 13,694 $ 33,793 $ 27,664 $ 4,584 $ 4,048 $ 26,960 $ 4,421 Cash surrender value $ 13,682 $ 33,512 $ 26,980 $ 4,549 $ 3,972 $ 26,683 $ 4,414 ______________ (1) Investment performance is reflected net of M&E fees. (2) For the year ended December 31, 2023, EQUI-VEST Individual and EQUI-VEST Group amounts reflect a total special payment applied to the accounts of active clients as part of a previously disclosed settlement agreement between Equitable Financial Life Insurance Company and the Securities & Exchange Commission. Year Ended December 31, 2022 VUL GMxB Legacy GMxB Core EQUI-VEST Individual Investment Edge EQUI-VEST Group Momentum (in millions) Balance, beginning of year $ 14,574 $ 44,912 $ 34,973 $ 5,584 $ 4,287 $ 27,509 $ 4,975 Premiums and deposits 757 240 943 124 1,002 2,104 668 Policy charges (423) (682) (482) (2) (1) (17) (20) Surrenders and withdrawals (380) (2,824) (2,303) (328) (327) (1,359) (753) Benefit payments (102) (702) (215) (52) (34) (60) (14) Investment performance (1) (2,816) (8,323) (6,045) (1,136) (733) (5,481) (918) Net transfers from (to) general account (75) (5) 146 (28) (422) (303) (54) Balance, end of year $ 11,535 $ 32,616 $ 27,017 $ 4,162 $ 3,772 $ 22,393 $ 3,884 Cash surrender value $ 11,555 $ 32,320 $ 26,195 $ 4,129 $ 3,679 $ 22,163 $ 3,879 ______________
Schedule of Liability for Future Policy Benefits, Undiscounted and Discounted Expected Gross Premiums and Expected Future Benefits and Expenses	The following table provides the amount of undiscounted and discounted expected gross premiums and expected future benefits and expenses related to nonparticipating traditional and limited payment contracts: December 31, 2023 December 31, 2022 (in millions) Term Expected future benefit payments and expenses (undiscounted) $ 5,860 $ 6,002 December 31, 2023 December 31, 2022 (in millions) Expected future gross premiums (undiscounted) 6,956 7,245 Expected future benefit payments and expenses (discounted) 3,466 3,449 Expected future gross premiums (discounted) 3,862 3,883 Payout-Legacy Expected future benefit payments and expenses (undiscounted) 5,204 3,947 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 3,538 2,607 Expected future gross premiums (discounted) — — Payout-Non-Legacy Expected future benefit payments and expenses (undiscounted) 1,426 1,460 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 812 801 Expected future gross premiums (discounted) — — Group Pension Expected future benefit payments and expenses (undiscounted) 668 730 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 471 563 Expected future gross premiums (discounted) — — Health Expected future benefit payments and expenses (undiscounted) 2,318 2,510 Expected future gross premiums (undiscounted) 85 99 Expected future benefit payments and expenses (discounted) 1,468 1,533 Expected future gross premiums (discounted) $ 68 $ 78
Schedule of Liability for Future Policy Benefits, Revenue and Interest Accretion	The table below summarizes the revenue and interest related to nonparticipating traditional and limited payment contracts: Year Ended December 31, Year Ended December 31, 2023 2022 2021 2023 2022 2021 Gross Premium Interest Accretion (in millions) Revenue and Interest Accretion Term $ 349 $ 229 $ 239 $ 67 $ 70 $ 75 Payout - Legacy 220 101 106 109 63 $ 60 Payout - Non-Legacy 46 21 19 39 40 40 Group Pension — — — 20 21 23 Health 15 9 10 58 61 64 Total $ 630 $ 360 $ 374 $ 293 $ 255 $ 262
Schedule of Liability for Future Policy Benefits, Weighted Average Interest Rates	The following table provides the weighted average interest rates for the liability for future policy benefits: Year Ended December 31, 2023 2022 Weighted Average Interest Rate Term Interest accretion rate 5.6 % 5.7 % Current discount rate 4.8 % 5.1 % Payout - Legacy Interest accretion rate 4.0 % 3.4 % Current discount rate 4.9 % 5.0 % Payout - Non-Legacy Interest accretion rate 5.0 % 4.9 % Current discount rate 4.9 % 5.2 % Group Pension Interest accretion rate 3.3 % 3.4 % Current discount rate 4.8 % 5.1 % Health Interest accretion rate 3.4 % 3.3 % Current discount rate 4.9 % 5.2 %
Schedule of Balances of and Changes in Additional Liabilities Related to Insurance Guarantees	The following table provides the balance, changes in and the weighted average durations of the additional insurance liabilities: Year Ended December 31, 2023 2022 UL (Dollars in millions) Balance, beginning of period $ 1,120 $ 1,082 Beginning balance before AOCI adjustments 1,135 1,076 Effect of changes in interest rate and cash flow assumptions and model changes 21 8 Effect of actual variances from expected 10 25 Adjusted beginning of period balance 1,166 1,109 Interest accrual 52 49 Net assessments collected 69 68 Benefit payments (57) (91) Ending balance before shadow reserve adjustments 1,230 1,135 Effect of reserve adjustment recorded in AOCI (10) (15) Balance, end of year $ 1,220 $ 1,120 Net liability for additional liability $ 1,220 $ 1,120 Less: Reinsurance recoverable (946) (562) Net liability for additional liability, after reinsurance recoverable $ 274 $ 558 Weighted-average duration of additional liability - death benefit (years) 19.9 22.0 The following tables provide the revenue, interest and weighted average interest rates, related to the additional insurance liabilities: Year Ended December 31, 2023 2022 2021 2023 2022 2021 Assessments Interest Accretion (in millions) Revenue and Interest Accretion UL $ 670 $ 666 $ 850 $ 51 $ 49 $ 45 Total $ 670 $ 666 $ 850 $ 51 $ 49 $ 45 Year Ended December 31, 2023 2022 2021 Weighted Average Interest Rate UL 4.5 % 4.5 % 4.5 % Interest accretion rate 4.5 % 4.5 % 4.5 %

MARKET RISK BENEFITS (Tables)

MARKET RISK BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2023
Market Risk Benefit [Abstract]
Schedule of Market Risk Benefit, Activity	The following table summarizes the balance of and changes in the net liability position of market risk benefits on January 1, 2021 resulting from the adoption of ASU 2018-12: GMxB Legacy GMxB Core Purchased MRB Total (in millions) Balance, December 31, 2020 $ 19,891 $ 2,206 $ (2,943) $ 19,154 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income (70) (4) — (74) Adjustments for the cumulative effect of the changes in the instrument-specific credit risk between the original contract issuance date and the transition date 461 505 5 971 Adjustments for the remaining difference (exclusive of the instrument specific credit risk change and host contract adjustments) between previous carrying amount and fair value measurement for the MRB 4,122 (563) (194) 3,365 Balance, January 1, 2021 (1) $ 24,404 $ 2,144 $ (3,132) $ 23,416 ____________ (1) MRB transition table not inclusive of the following transition adjustments to retained earnings and AOCI including EQUI-VEST of $43 million, SCS of $21 million and Group Retirement EQUI-VEST of $(20) million. The following table presents the balances and changes to the balances for market risk benefits for the GMxB benefits on deferred variable annuities: Year Ended December 31, 2023 GMxB Core Purchased MRB Core Net GMxB Core GMxB Legacy Purchased MRB Legacy (4) Net GMxB Legacy (Dollars in millions) Balance, beginning of year $ 539 $ — $ 539 $ 14,699 $ (10,492) $ 4,207 Beginning balance before changes in the instrument specific credit risk 538 — 538 15,314 (10,438) 4,876 Model changes and effect of changes in cash flow assumptions 5 (42) (37) (19) (16) (35) Actual market movement effect (466) 229 (237) (1,847) 1,464 (383) Interest accrual 72 (25) 47 770 (762) 8 Attributed fees accrued (1) 397 (273) 124 843 (538) 305 Benefit payments (47) 34 (13) (1,354) 1,175 (179) Actual policyholder behavior different from expected behavior 16 (13) 3 (14) (12) (26) Changes in future economic assumptions (191) 118 (73) (673) 426 (247) Issuances (2) — (1,294) (1,294) — (6,842) (6,842) Ending balance before changes in the instrument-specific credit risk 324 (1,266) (942) 13,020 (15,543) (2,523) Changes in the instrument-specific credit risk (3) 254 86 340 390 24 414 Balance, end of year $ 578 $ (1,180) $ (602) $ 13,410 $ (15,519) $ (2,109) Weighted-average age of policyholders (years) 64.5 64.9 N/A 73.0 73.3 N/A Net amount at risk $ 2,991 $ 2,933 N/A $ 21,136 $ 20,737 N/A _______________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Issuances are related to the Reinsurance Treaty with Equitable America. See Note 1 of the Notes to these Consolidated Financial Statements. (3) Changes are recorded in OCI. (4) Purchased MRB is the impact of non-affiliated reinsurance and affiliated reinsurance with Equitable America. Effective April 1, 2023, the Company recorded $8.2 billion of Purchased MRB as result of the Reinsurance Treaty. See Note 1 and Note 12 for additional information. Year Ended December 31, 2022 2021 GMxB Core GMxB Legacy Purchased MRB Legacy (3) Net GMxB Legacy GMxB Core GMxB Legacy Purchased MRB Legacy (3) Net Legacy (Dollars in millions) Balance, beginning of year $ 1,061 $ 20,236 $ (14,293) $ 5,943 $ 2,143 $ 24,405 $ (3,131) $ 21,274 Beginning balance before changes in the instrument specific credit risk 666 19,719 (14,287) 5,432 $ 1,639 23,944 (3,136) 20,808 Model changes and effect of changes in cash flow assumptions (5) 317 (137) 180 (279) (196) 73 (123) Actual market movement effect 1,060 3,402 (1,278) 2,124 (715) (2,968) 767 (2,201) Interest accrual 37 731 (493) 238 7 196 (124) 72 Attributed fees accrued (1) 395 882 (298) 584 386 917 (196) 721 Benefit payments (36) (1,179) 669 (510) (14) (901) 350 (551) Actual policyholder behavior different from expected behavior 19 142 (103) 39 40 78 34 112 Changes in future economic assumptions (1,596) (8,700) 5,489 (3,211) (397) (1,351) (907) (2,258) Issuances (2) — — — (1) — (11,148) (11,148) Ending balance before changes in the instrument-specific credit risk 538 15,314 (10,438) 4,876 $ 666 19,719 (14,287) 5,432 Changes in the instrument-specific credit risk (2) 1 (615) (54) (669) 395 517 (6) 511 Balance, end of year $ 539 $ 14,699 $ (10,492) $ 4,207 $ 1,061 $ 20,236 $ (14,293) $ 5,943 Weighted-average age of policyholders (years) 63.6 72.6 72.1 N/A 62.6 72.0 71.5 N/A Net amount at risk (4) $ 3,517 $ 22,631 $ 11,755 N/A $ 1,115 $ 15,901 $ 9,055 N/A _______________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Changes are recorded in OCI. (3) Purchased MRB is the impact of non-affiliated reinsurance. The following table reconciles market risk benefits by the amounts in an asset position and amounts in a liability position to the market risk benefit amounts in the consolidated balance sheets: Year Ended December 31, 2023 2022 MRB Asset MRB Liability Net MRB Purchased MRB Total MRB Asset MRB Liability Net MRB Purchased MRB Total (in millions) GMxB Core $ (410) $ 988 $ 578 $ (1,180) $ (602) $ (375) $ 914 $ 539 $ — $ 539 GMxB Legacy (103) 13,513 13,410 (15,519) (2,109) (51) 14,749 14,698 (10,493) 4,205 Other (1) (61) 69 8 (30) (22) (52) 88 36 3 39 Total $ (574) $ 14,570 $ 13,996 $ (16,729) $ (2,733) $ (478) $ 15,751 $ 15,273 $ (10,490) $ 4,783 ______________ (1) Other primarily includes Individual EQUI-VEST MRB.

POLICYHOLDER ACCOUNT BALANCES (

POLICYHOLDER ACCOUNT BALANCES (Tables)	12 Months Ended
	Dec. 31, 2023
Policyholder Account Balance [Abstract]
Schedule of Policyholder Account Balance	The following table summarizes balances and changes in the liability for future policy benefits for nonparticipating traditional and limited pay contracts: Year Ended December 31, 2023 Year Ended December 31, 2022 Term Payout - Non-Legacy Payout-Legacy Group Pension Health Term Payout-Non-Legacy Payout-Legacy Group Pension Health (in millions) Present Value of Expected Net Premiums Balance, beginning of year $ 2,090 $ — $ — $ — $ (6) $ 2,472 $ — $ — $ — $ 22 Beginning balance at original discount rate 2,069 — — — (6) 1,854 — — — 19 Effect of changes in cash flow assumptions 47 — — — (6) 204 — — — (10) Effect of actual variances from expected experience (36) — — — (12) 30 — — — (16) Adjusted beginning of period balance 2,080 — — — (24) 2,088 — — — (7) Issuances 64 — — — — 76 — — — — Year Ended December 31, 2023 Year Ended December 31, 2022 Term Payout - Non-Legacy Payout-Legacy Group Pension Health Term Payout-Non-Legacy Payout-Legacy Group Pension Health (in millions) Interest accrual 100 — — — (1) 97 — — — — Net premiums collected (194) — — — 3 (192) — — — 1 Ending Balance at original discount rate 2,051 — — — (22) 2,069 — — — (6) Effect of changes in discount rate assumptions 74 — — — 1 21 — — — — Balance, end of year $ 2,125 $ — $ — $ — $ (21) $ 2,090 $ — $ — $ — $ (6) Present Value of Expected Future Policy Benefits Balance, beginning of period $ 3,449 $ 828 $ 2,689 $ 523 $ 1,554 $ 4,274 $ 1,114 $ 2,547 $ 683 $ 2,092 Beginning balance of original discount rate 3,376 845 3,024 583 1,795 3,225 883 2,400 632 1,915 Effect of changes in cash flow assumptions 59 — — — (6) 221 (2) (2) — (5) Effect of actual variances from expected experience (43) — (3) — (22) 30 (1) (3) 1 (13) Adjusted beginning of period balance 3,392 845 3,021 583 1,767 3,476 880 2,395 633 1,897 Issuances 70 47 996 — — 83 23 758 — — Interest accrual 166 39 88 19 57 166 40 63 21 61 Benefits payments (311) (91) (265) (66) (152) (349) (98) (192) (71) (163) Ending balance at original discount rate 3,317 840 3,840 536 1,672 3,376 845 3,024 583 1,795 Effect of changes in discount rate assumptions 149 4 (220) (46) (188) 73 (17) (335) (60) (241) Balance, end of period $ 3,466 $ 844 $ 3,620 $ 490 $ 1,484 $ 3,449 $ 828 $ 2,689 $ 523 $ 1,554 Net liability for future policy benefits $ 1,341 $ 844 $ 3,620 $ 490 $ 1,505 $ 1,359 $ 828 $ 2,689 $ 523 $ 1,560 Less: Reinsurance recoverable (210) (29) (1,309) — (1,191) (209) — (466) 1 (1,242) Net liability for future policy benefits, after reinsurance recoverable $ 1,131 $ 815 $ 2,311 $ 490 $ 314 $ 1,150 $ 828 $ 2,223 $ 524 $ 318 Weighted-average duration of liability for future policyholder benefits (years) 7.0 9.3 7.7 7.1 8.7 7.0 9.5 8.1 7.2 8.7 The following table reconciles the policyholders account balances to the policyholders’ account balance liability in the consolidated balance sheets: Year Ended December 31, 2023 2022 (in millions) Policyholders’ account balance reconciliation UL $ 5,202 $ 5,341 VUL 4,145 4,253 GMxB Legacy 618 688 GMxB Core (5) 42 SCS 40,649 35,460 EQUI-VEST Individual 2,322 2,652 EQUI-VEST Group 11,563 12,046 Momentum 608 703 Other (1) 2,995 2,916 Balance (exclusive of Funding Agreements) 68,097 64,101 Funding Agreements 14,893 15,641 Balance, end of year $ 82,990 $ 79,742 _______________ (1) Primarily reflects products, IR Payout, IR Other, Investment Edge, Association, Indexed Universal Life, Group Pension and Closed Block. The following tables summarize the balances and changes in policyholder’s account balances: Year Ended December 31, 2023 Universal Life Variable Universal Life GMxB Legacy GMxB Core SCS (1) EQUI-VEST Individual EQUI-VEST Group Momentum (Dollars in millions) Balance, beginning of year $ 5,341 $ 4,253 $ 688 $ 42 $ 35,460 $ 2,652 $ 12,046 $ 703 Issuances — — — — — — — — Premiums received 698 114 98 43 9 37 626 70 Policy charges (761) (217) 9 3 (8) — (4) (1) Surrenders and withdrawals (79) (44) (97) (33) (2,853) (378) (1,704) (153) Benefit payments (219) (112) (103) (2) (249) (70) (71) (4) Net transfers from (to) separate account — (33) (4) (62) 2,569 6 272 (21) Interest credited (2) 222 184 27 4 5,721 72 387 14 Other — — — — — 3 11 — Balance, end of year $ 5,202 $ 4,145 $ 618 $ (5) $ 40,649 $ 2,322 $ 11,563 $ 608 Weighted-average crediting rate 3.77 % 3.75 % 2.71 % 1.29 % N/A 2.84 % 2.66 % 2.33 % Net amount at risk (3) $ 35,490 $ 83,050 $ 21,136 $ 2,991 $ 1 $ 109 $ 10 $ — Cash surrender value $ 3,423 $ 2,644 $ 572 $ 216 $ 37,816 $ 2,315 $ 11,506 $ 609 Year Ended December 31, 2022 Universal Life Variable Universal Life GMxB Legacy GMxB Core SCS (1) EQUI-VEST Individual EQUI-VEST Group Momentum (Dollars in millions) Balance, beginning of year $ 5,462 $ 4,193 $ 746 $ 99 $ 33,443 $ 2,784 $ 11,952 $ 705 Issuances — — — — — — — — Premiums received 730 143 72 134 2 46 610 79 Policy charges (789) (210) 6 (19) — (1) (5) — Surrenders and withdrawals (86) (12) (72) (30) (2,452) (225) (995) (148) Benefit payments (200) (85) (99) (2) (209) (59) (70) (2) Net transfers from (to) separate account — 75 5 (146) 7,229 28 303 54 Interest credited (2) 224 149 30 6 (2,553) 79 251 15 Other — — — — — — — — Balance, end of year $ 5,341 $ 4,253 $ 688 $ 42 $ 35,460 $ 2,652 $ 12,046 $ 703 Weighted-average crediting rate 3.62% 3.86% 1.80% 1.05% 1.12% 2.85% 3.00% 2.02% Net amount at risk (3) $ 37,555 $ 85,086 $ 22,631 $ 3,517 $ 92 $ 143 $ 138 $ — Cash surrender value $ 3,483 $ 2,838 $ 980 $ 264 $ 31,856 $ 2,645 $ 11,961 $ 702 ______________ (1) SCS sales are recorded as a Separate Account liability until they are swept into the General Account. This sweep is recorded as Net Transfers from (to) separate account. (2) SCS and EQUI-VEST Group includes amounts related to the change in embedded derivative. (3) For life insurance products the net amount at risk is death benefit less account value for the policyholder. For variable annuity products the net amount risk is the maximum GMxB NAR for the policyholder. The following table reconciles the Separate Account liabilities to the Separate Account liability balance in the consolidated balance sheets: Year Ended December 31, 2023 2022 (in millions) Separate Account Reconciliation VUL 13,694 $ 11,535 GMxB Legacy 33,793 32,616 GMxB Core 27,664 27,017 EQUI-VEST Individual 4,584 4,162 Investment Edge 4,048 3,772 EQUI-VEST Group 26,960 22,393 Momentum 4,421 3,884 Other (1) 6,333 6,100 Total $ 121,497 $ 111,479 _____________ (1) Primarily reflects Corporate and Other products and Employer Sponsored products including Association and Other. The following tables present the balances of and changes in Separate Account liabilities: Year Ended December 31, 2023 VUL GMxB Legacy GMxB Core EQUI-VEST Individual Investment Edge EQUI-VEST Group Momentum (in millions) Balance, beginning of year $ 11,535 $ 32,616 $ 27,017 $ 4,162 $ 3,772 $ 22,393 $ 3,884 Premiums and deposits 788 219 472 93 332 2,174 644 Policy charges (429) (656) (473) (2) — (18) (21) Surrenders and withdrawals (512) (2,826) (2,566) (428) (406) (1,750) (820) Benefit payments (61) (728) (219) (57) (39) (55) (13) Investment performance (1) 2,340 5,164 3,371 818 528 4,463 726 Net transfers from (to) general account 33 4 62 (6) (139) (272) 21 Other charges (2) — — — 4 — 25 — Balance, end of year $ 13,694 $ 33,793 $ 27,664 $ 4,584 $ 4,048 $ 26,960 $ 4,421 Cash surrender value $ 13,682 $ 33,512 $ 26,980 $ 4,549 $ 3,972 $ 26,683 $ 4,414 ______________ (1) Investment performance is reflected net of M&E fees. (2) For the year ended December 31, 2023, EQUI-VEST Individual and EQUI-VEST Group amounts reflect a total special payment applied to the accounts of active clients as part of a previously disclosed settlement agreement between Equitable Financial Life Insurance Company and the Securities & Exchange Commission. Year Ended December 31, 2022 VUL GMxB Legacy GMxB Core EQUI-VEST Individual Investment Edge EQUI-VEST Group Momentum (in millions) Balance, beginning of year $ 14,574 $ 44,912 $ 34,973 $ 5,584 $ 4,287 $ 27,509 $ 4,975 Premiums and deposits 757 240 943 124 1,002 2,104 668 Policy charges (423) (682) (482) (2) (1) (17) (20) Surrenders and withdrawals (380) (2,824) (2,303) (328) (327) (1,359) (753) Benefit payments (102) (702) (215) (52) (34) (60) (14) Investment performance (1) (2,816) (8,323) (6,045) (1,136) (733) (5,481) (918) Net transfers from (to) general account (75) (5) 146 (28) (422) (303) (54) Balance, end of year $ 11,535 $ 32,616 $ 27,017 $ 4,162 $ 3,772 $ 22,393 $ 3,884 Cash surrender value $ 11,555 $ 32,320 $ 26,195 $ 4,129 $ 3,679 $ 22,163 $ 3,879 ______________
Schedule of Policyholder Account Balance, Guaranteed Minimum Crediting Rate	The following tables present the account values by range of guaranteed minimum crediting rates and the related range of the difference in basis points, between rates being credited policyholders and the respective guaranteed minimums: December 31, 2023 Product (1) Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 Basis Point - 50 Basis Points Above 51 Basis Points - 150 Basis Points Above Greater Than 150 Basis Points Above Total (in millions) UL 0% - 1.50% $ — $ — $ — $ 6 $ 6 1.51% - 2.50% 61 69 462 430 1,022 Greater than 2.50% 3,515 627 — — 4,142 Total $ 3,576 $ 696 $ 462 $ 436 $ 5,170 VUL 0% - 1.50% $ 8 $ 9 $ 18 $ 6 $ 41 1.51% - 2.50% 34 408 28 — 470 Greater than 2.50% 3,259 — — — 3,259 Total $ 3,301 $ 417 $ 46 $ 6 $ 3,770 GMxB Legacy 0% - 1.50% $ 75 $ 16 $ — $ — $ 91 1.51% - 2.50% 21 — — — 21 Greater than 2.50% 461 — — — 461 Total $ 557 $ 16 $ — $ — $ 573 GMxB Core 0% - 1.50% $ 13 $ 187 $ — $ — $ 200 1.51% - 2.50% 13 — — — 13 Greater than 2.50% 7 — — — 7 Total $ 33 $ 187 $ — $ — $ 220 December 31, 2023 Product (1) Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 Basis Point - 50 Basis Points Above 51 Basis Points - 150 Basis Points Above Greater Than 150 Basis Points Above Total (in millions) EQUI-VEST Individual 0% - 1.50% $ 49 $ 218 $ — $ — $ 267 1.51% - 2.50% 43 — — — 43 Greater than 2.50% 2,011 — — — 2,011 Total $ 2,103 $ 218 $ — $ — $ 2,321 EQUI-VEST Group 0% - 1.50% $ 773 $ 2,338 $ 36 $ 315 $ 3,462 1.51% - 2.50% $ 345 $ — $ — $ — $ 345 Greater than 2.50% 6,610 — — — 6,610 Total $ 7,728 $ 2,338 $ 36 $ 315 $ 10,417 SCS Products with either a fixed rate or no guaranteed minimum N/A N/A N/A N/A N/A Momentum 0% - 1.50% $ — $ 12 $ 330 $ 53 $ 395 1.51% - 2.50% 138 1 — — 139 Greater than 2.50% 68 — 5 — 73 Total $ 206 $ 13 $ 335 $ 53 $ 607 December 31, 2022 Product Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 Basis Point - 50 Basis Points Above 51 Basis Points - 150 Basis Points Above Greater Than 150 Basis Points Above Total (in millions) UL 0% - 1.50% $ — $ — $ 5 $ 1 $ 6 1.51% - 2.50% 181 197 605 47 1,030 Greater than 2.50% 3,615 657 — — 4,272 Total $ 3,796 $ 854 $ 610 $ 48 $ 5,308 VUL 0% - 1.50% $ 12 $ 9 $ 5 $ 1 $ 27 1.51% - 2.50% 411 42 — — 453 Greater than 2.50% 3,441 — — — 3,441 Total $ 3,864 $ 51 $ 5 $ 1 $ 3,921 GMxB Legacy 0% - 1.50% $ 386 $ — $ — $ — $ 386 1.51% - 2.50% 560 — — — 560 Greater than 2.50% 35 — — — 35 Total $ 981 $ — $ — $ — $ 981 GMxB Core 0% - 1.50% $ 257 $ — $ — $ — $ 257 1.51% - 2.50% 14 — — — 14 Greater than 2.50% — — — — — Total $ 271 $ — $ — $ — $ 271 December 31, 2022 Product Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 Basis Point - 50 Basis Points Above 51 Basis Points - 150 Basis Points Above Greater Than 150 Basis Points Above Total (in millions) EQUI-VEST Individual 0% - 1.50% $ 345 $ — $ — $ — $ 345 1.51% - 2.50% 46 — — — 46 Greater than 2.50% 2,199 — 62 — 2,261 Total $ 2,590 $ — $ 62 $ — $ 2,652 EQUI-VEST Group 0% - 1.50% $ 109 $ 5 $ 366 $ 3,112 $ 3,592 1.51% - 2.50% 11 2 889 — 902 Greater than 2.50% 6,949 21 330 — 7,300 Total $ 7,069 $ 28 $ 1,585 $ 3,112 $ 11,794 SCS Products with either a fixed rate or no guaranteed minimum N/A N/A N/A N/A N/A Momentum 0% - 1.50% $ 15 $ 301 $ 122 $ 7 $ 445 1.51% - 2.50% 178 1 — — 179 Greater than 2.50% 73 — 5 — 78 Total $ 266 $ 302 $ 127 $ 7 $ 702
Schedule of Investment in Variable Insurance Trust Mutual Funds	The following tables present the aggregate fair value of Separate Account assets by major asset category: December 31, 2023 Life Insurance & Employee Benefits Products Individual Variable Annuity Products Employer - Sponsored Products Other Total (in millions) Asset Type Debt securities $ 48 $ 1 $ 21 $ 6 $ 76 Common Stock 65 34 447 1,667 2,213 Mutual Funds 13,557 70,815 32,780 677 117,829 Bonds and Notes 91 4 1 1,283 1,379 Total $ 13,761 $ 70,854 $ 33,249 $ 3,633 $ 121,497 December 31, 2022 Life Insurance & Employee Benefits Products Individual Variable Annuity Products Employer - Sponsored Products Other Total (in millions) Asset Type Debt securities $ 58 $ 1 $ 17 $ 8 $ 84 Common Stock 41 32 430 1,686 2,189 Mutual Funds 11,402 68,220 27,639 760 108,021 Bonds and Notes 119 3 1 1,062 1,185 Total $ 11,620 $ 68,256 $ 28,087 $ 3,516 $ 111,479

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Assets and Liabilities, Leases	Balance Sheet Classification of Operating Lease Assets and Liabilities December 31, Balance Sheet Line Item 2023 2022 (in millions) Assets Operating lease assets Other assets $ 192 $ 148 Liabilities Operating lease liabilities Other liabilities $ 210 $ 190
Schedule of Lease, Cost	The table below summarizes the components of lease costs for the years ended December 31, 2023, 2022 and 2021. Lease Costs Year Ended December 31, 2023 2022 2021 (in millions) Operating lease cost $ 61 $ 77 $ 73 Variable operating lease cost 15 12 10 Sublease income (19) (19) (18) Net lease cost $ 57 $ 70 $ 65 The below table presents the Company’s weighted-average remaining operating lease term and weighted-average discount rate. Weighted Averages - Remaining Operating Lease Term and Discount Rate December 31, 2023 2022 Weighted-average remaining operating lease term 8 years 4 years Weighted-average discount rate for operating leases 4.30 % 3.00 % Supplemental cash flow information related to leases was as follows: Lease Liabilities Information Year Ended December 31, 2023 2022 2021 (in millions) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 83 $ 92 $ 94 Non-cash transactions: Leased assets obtained in exchange for new operating lease liabilities $ 92 $ 7 $ 26
Schedule of Lessee, Operating Lease, Liability, Maturity	Maturities of lease liabilities as of December 31, 2023 are as follows: Maturities of Lease Liabilities December 31, 2023 (in millions) Operating Leases: 2024 $ 43 2025 39 2026 35 2027 30 2028 27 Thereafter 92 Total lease payments 266 Less: Interest (56) Present value of lease liabilities $ 210

REINSURANCE (Tables)

REINSURANCE (Tables)	12 Months Ended
	Dec. 31, 2023
Reinsurance Disclosures [Abstract]
Schedule of Effect of Reinsurance	The following table summarizes the effect of reinsurance. The impact of the reinsurance transaction described below results in an increase in reinsurance ceded: Year Ended December 31, 2023 2022 2021 (in millions) Direct charges and fee income $ 2,708 $ 2,876 $ 3,125 Reinsurance assumed 13 — — Reinsurance ceded - Equitable America (1,015) — — Reinsurance ceded - third party (611) (651) (563) Policy charges and fee income $ 1,095 $ 2,225 $ 2,562 Direct premiums $ 820 $ 764 $ 762 Reinsurance assumed 175 180 181 Reinsurance ceded - Equitable America (174) — — Reinsurance ceded - third party (234) (219) (193) Premiums $ 587 $ 725 $ 750 Direct policyholders’ benefits $ 2,763 $ 2,800 $ 2,817 Reinsurance assumed 158 180 217 Reinsurance ceded - Equitable America (528) — — Reinsurance ceded - third party (612) (653) (627) Policyholders’ benefits $ 1,781 $ 2,327 $ 2,407 Direct Interest credited to policyholders’ account balances $ 1,963 $ 1,338 $ 1,117 Reinsurance assumed — — — Reinsurance ceded - Equitable America (471) — — Reinsurance ceded - third party (108) (29) (2) Interest credited to policyholders’ account balances $ 1,384 $ 1,309 $ 1,115
Schedule of Reinsurance Retention	The following table summarizes the composition of the pool of assets: December 31, 2023 Carrying Value Fair Value (in millions) Fixed maturities $ 24,725 $ 24,725 Mortgage loans on real estate 8,405 7,409 Policy loans 248 250 Other equity investments 238 238 Other invested assets 8,256 8,257 Total assets supporting funds withheld $ 41,872 $ 40,879 ______________ (1) Other invested assets includes derivatives and cash and cash equivalents.
Schedule of Impact of Funds Withheld Arrangement of Net Investment Income Loss	The impact of the funds withheld and NI modco arrangement with Equitable America was as follows: Year Ended December 31, 2023 (in millions) Net derivative gains (losses): Freestanding derivatives $ 1,944 Embedded derivatives (3,209) Net derivative gains (losses) (1,265) Net investment income (loss) 994 Investment gains (losses), net (245) Income (loss) from continuing operations, before income taxes (516) Income tax (expense) benefit 108 Net income (loss) (408) Change in unrealized gains (losses), net of income taxes 240 Comprehensive income (loss) $ (168)
Schedule of Ceded Credit Risk	The following table summarizes the ceded purchased market risk benefits, internal reinsurance recoverable and third-party recoverables including amount due to reinsurance and assumed reserves: December 31, 2023 2022 (in millions) Ceded Reinsurance: Estimated net fair values of purchased market risk benefits $ 16,729 $ 10,490 Reinsurance recoverables related to insurance contracts 20,636 7,131 Related party - Equitable America (1) 13,492 — Third parties 7,144 7,131 Top reinsurers: First Allmerica-GAF 3,605 4,005 Venerable Insurance and Annuity Company (A- KBRA (IFRS) rating) 1,057 543 Ceded group health reserves 14 14 Amount due to reinsurers 216 282 Top reinsurers: First Allmerica-GAF 73 147 Assumed Reinsurance: Reinsurance assumed reserves 731 701 ______________ (1) Includes ceded PAB on NI Modco portion of the Reinsurance Treaty of $33.4 billion offset by $(30.3) billion of modco payable for the same portion of the Reinsurance Treaty.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Year Ended December 31, 2023 2022 2021 (in millions) Revenue received or accrued for: Investment management and administrative services provided to EQAT and 1290 Funds (1) $ 692 $ 708 $ 757 _____________ (1) For year ended 2021, amounts included fees received from Other AXA Trusts of $3 million . Year Ended December 31, 2023 2022 2021 (in millions) Revenue received or accrued for: Amounts received or accrued for commissions and fees earned for sale of Equitable America’s insurance products $ 332 $ 82 $ 38 Year Ended December 31, 2023 2022 2021 (in millions) Expenses paid or accrued for: Paid or accrued commission and fee expenses for sale of insurance products by Equitable Network $ 612 $ 718 $ 712

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Schedule of Net Funded Status	The following table presents the funded status of the plan: December 31, 2023 2022 (in millions) Equitable Retirement Plan Total plan assets $ 1,796 $ 1,801 Accumulated benefit obligation $ 1,584 $ 1,614 Funded status 113.4 % 111.6 %

SHARE-BASED COMPENSATION PROG_2

SHARE-BASED COMPENSATION PROGRAMS (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Compensation Costs	Compensation costs for years ended December 31, 2023, 2022 and 2021 for share-based payment arrangements as further described herein are as follows: Year Ended December 31, 2023 2022 2021 (in millions) Performance Shares $ 12 $ 25 $ 12 Stock Options — 1 — Restricted Stock Unit Awards 31 35 27 Total Compensation Expenses $ 43 $ 61 $ 39 Income Tax Benefit $ 5 $ 12 $ 8
Schedule of Stock Option Activity	A summary of activity in the AXA and Holdings option plans during 2023 as follows: Options Outstanding EQH Shares AXA Ordinary Shares Number Outstanding (In 000’s) Weighted Average Exercise Price Number Outstanding (In 000’s) Weighted Average Exercise Price Options Outstanding at January 1, 2023 1,590 $ 21.72 559 € 22.92 Options granted — — — — Options exercised (155) 20.17 (232) 23.49 Options forfeited, net — — — — Options expired — — — — Options Outstanding at December 31, 2023 1,435 $ 21.92 327 € 22.52 Aggregate intrinsic value (1) $ 16,333 € 2,283 Weighted average remaining contractual term (in years) 5.57 3.26 Options Exercisable at December 31, 2023 1,435 $ 21.92 297 € 22.61 Aggregate intrinsic value (1) $ 16,333 € 2,041 Weighted average remaining contractual term (in years) 5.57 3.11 ____________ (1)
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	The following table summarizes Holdings restricted share units activity for 2023. Shares of Holdings Restricted Stock Weighted Average Grant Date Unvested, beginning of year 1,944,969 $ 29.78 Granted 1,120,750 32.23 Forfeited (105,186) 31.47 Vested (743,313) 26.98 Unvested as of December 31, 2023 2,217,220 $ 32.34
Schedule of Share-based Compensation, Performance Award Activity	The following table summarizes Holdings performance awards activity for 2023. Shares of Holdings Performance Awards Weighted-Average Grant Date Unvested, beginning of year 1,071,369 $ 32.98 Granted 350,303 39.07 Forfeited (1,263) 29.00 Vested (361,081) 29.08 Unvested as of December 31, 2023 1,059,328 $ 36.32

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense (Benefit)	A summary of the income tax (expense) benefit in the consolidated statements of income (loss) follows: Year Ended December 31, 2023 2022 2021 (in millions) Income tax (expense) benefit: Current (expense) benefit $ (31) $ 32 $ 11 Deferred (expense) benefit 1,261 (420) (203) Total $ 1,230 $ (388) $ (192)
Schedule of Effective Income Tax Rate Reconciliation	The sources of the difference and their tax effects are as follows: Year Ended December 31, 2023 2022 2021 (in millions) Expected income tax (expense) benefit $ 226 $ (417) $ (273) Non-taxable investment income 62 50 79 Tax audit interest (22) (13) (14) Tax credits 12 17 28 Deferred tax adjustment — (21) — Valuation Allowance 963 — — Other (11) (4) (12) Income tax (expense) benefit $ 1,230 $ (388) $ (192)
Schedule of Net Deferred Income Taxes	The components of the net deferred income taxes are as follows: December 31, 2023 2022 Assets Liabilities Assets Liabilities (in millions) Compensation and related benefits $ 62 $ — $ 62 $ — Net operating loss and credits 1,455 — 505 — Reserves and reinsurance 314 — 986 — DAC — 797 — 789 Unrealized investment gains (losses) 1,412 — 1,910 — Investments 872 — 451 — Other 50 — 108 — Valuation allowance (217) — (1,489) — Total $ 3,948 $ 797 $ 2,533 $ 789
Schedule of Unrecognized Tax Benefits Reconciliation	A reconciliation of unrecognized tax benefits (excluding interest and penalties) follows: Year Ended December 31, 2023 2022 2021 (in millions) Balance at January 1, $ 295 $ 295 $ 281 Additions for tax positions of prior years 7 — 17 Reductions for tax positions of prior years — — (3) Additions for tax positions of current year — — — Settlements with tax authorities — — — Balance at December 31, $ 302 $ 295 $ 295 Unrecognized tax benefits that, if recognized, would impact the effective rate $ 43 $ 43 $ 43

EQUITY (Tables)

EQUITY (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	AOCI represents cumulative gains (losses) on items that are not reflected in net income (loss). The balances of AOCI were as follows: December 31, December 31, 2023 2022 (in millions) Unrealized gains (losses) on investments $ (6,363) $ (8,873) Market risk benefits - instrument-specific credit risk component (764) 665 Liability for future policy benefits - current discount rate component 194 357 Defined benefit pension plans (5) (4) Accumulated other comprehensive income (loss) attributable to Equitable Financial $ (6,938) $ (7,855)
Schedule of Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes	The components of OCI, net of taxes were as follows: Year Ended December 31, 2023 2022 2021 (in millions) Change in net unrealized gains (losses) on investments: Net unrealized gains (losses) arising during the period (1) $ 1,692 $ (12,915) $ (2,293) (Gains) losses reclassified into net income (loss) during the period (2) 515 700 (686) Net unrealized gains (losses) on investments (1) 2,207 (12,215) (2,979) Adjustments for policyholders’ liabilities, insurance liability loss recognition and other (32) 755 476 Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $186 , $(1,162)and $(665)) 2,175 (11,460) (2,503) Change in LFPB discount rate and MRB credit risk, net of tax Market risk benefits - change in instrument-specific credit risk (net of deferred income tax expense (benefit) of $(300), $331, and $13) (1,129) 1,247 51 Liability for future policy benefits - change in current discount rate (net of deferred income tax expense (benefit) of $(34), $277 and $71 ) (128) 1,042 267 Change in defined benefit plans: Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost (3) (1) — — Change in defined benefit plans (net of deferred income tax expense (benefit) of $0,$0 and $0) (1) — — Other comprehensive income (loss) attributable to Equitable Financial 917 (9,171) (2,185) Cumulative effect of adoption of ASU 2018-02, Long Duration Targeted Improvements (net of deferred income tax expense (benefit) of $—, $—, $(291) $ — — $ (1,094) Change in accumulated other comprehensive income (loss) attributable to Equitable Financial $ 917 $ (9,171) $ (3,279) ______________ (1) For 2022, unrealized gains (losses) arising during the period is presented net of a valuation allowance of $1.5 billion established during the fourth quarter of 2022. The Company established the valuation allowance against its deferred tax assets related to unrealized capital losses in the available for sale securities portfolio.A valuation allowance of $217 million remains against the portion of the deferred tax asset that is still not more-likely-than-not to be realized. See Note 16 of the Notes to these Consolidated Financial Statements for details on the valuation allowance. (2) See “Reclassification adjustment” in Note 3 of the Notes to these Consolidated Financial Statements. Reclassification amounts presented net of income tax expense (benefit) of $137 million, $186 million, and $182 million for the years ended December 31, 2023, 2022 and 2021, respectively. (3) These AOCI components are included in the computation of net periodic costs. See Note 14 of the Notes to these Consolidated Financial Statements.

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Activity of Funding Agreements	Change in FHLB Funding Agreements during the Year Ended December 31, 2023 Outstanding Balance at December 31, 2022 Issued During the Period Repaid During the Period Long-term Agreements Maturing Within One Year Long-term Agreements Maturing Within Five Years Outstanding Balance at December 31, 2023 (in millions) Short-term funding agreements: Due in one year or less $ 6,130 $ 59,957 $ (60,843) $ 924 $ — $ 6,168 Long-term funding agreements: Due in years two through five 1,679 — — (880) — 799 Due in more than five years 692 — — (44) — 648 Total long-term funding agreements 2,371 — — (924) — 1,447 Total funding agreements (1) $ 8,501 $ 59,957 $ (60,843) $ — $ — $ 7,615 ____________ (1) The $3 million and $4 million difference between the funding agreements carrying value shown in fair value table for December 31, 2023 and 2022, respectively, reflects the remaining amortization of a hedge implemented and closed, which locked in the funding agreements borrowing rates. Change in FABN Funding Agreements during the Year Ended December 31, 2023 Outstanding Balance at December 31, 2022 Issued During the Period Repaid During the Period Long-term Agreements Maturing Within One Year Long-term Agreements Maturing Within Five Years Foreign Currency Transaction Adjustment Outstanding Balance at December 31, 2023 (in millions) Short-term funding agreements: Due in one year or less $ 1,500 $ — $ (1,500) $ 1,000 $ — $ — $ 1,000 Long-term funding agreements: Due in years two through five 4,000 671 — (1,000) 1,285 28 4,984 Due in more than five years 1,585 — — — (1,285) — 300 Total long-term funding agreements 5,585 671 — (1,000) — 28 5,284 Total funding agreements (1) $ 7,085 $ 671 $ (1,500) $ — $ — $ 28 $ 6,284 ______________ (1)

REDEEMABLE NONCONTROLLING INT_2

REDEEMABLE NONCONTROLLING INTEREST (Tables)	12 Months Ended
	Dec. 31, 2023
Noncontrolling Interest [Abstract]
Schedule of Redeemable Noncontrolling Interest	The changes in the components of redeemable noncontrolling interests are presented in the following table: Year Ended December 31, 2023 2022 2021 (in millions) Balance, beginning of period $ 21 $ 28 $ 41 Net earnings (loss) attributable to redeemable noncontrolling interests 1 (3) — Purchase/change of redeemable noncontrolling interests 2 (4) (13) Balance, end of period $ 24 $ 21 $ 28

REVENUES FROM EXTERNAL CUSTOM_2

REVENUES FROM EXTERNAL CUSTOMERS (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Revenues Disaggregated by Product	Revenue from external customers, by product, is shown in the table that follows: Year Ended December 31, 2023 (2) 2022 2021 (in millions) Individual Variable Annuity Products Premiums $ 176 $ 123 $ 126 Fees (1) 1,003 1,792 2,364 Others 118 87 72 Total $ 1,297 $ 2,002 $ 2,562 Employer- Sponsored Premiums $ — $ — $ — Fees 434 506 611 Others 19 25 5 Total $ 453 $ 531 $ 616 Life Insurance Products Premiums $ 530 $ 545 $ 566 Fees 1,354 1,375 1,417 Others — 10 7 Total $ 1,884 $ 1,930 $ 1,990 Employee Benefit Products Premiums $ 46 $ 46 $ 40 Fees — — — Others 2 8 — Total $ 48 $ 54 $ 40 Other Premiums $ 8 $ 11 $ 18 Fees 8 12 16 Others 2 1 10 Total $ 18 $ 24 $ 44 ______________ (1) Excludes the amortization/capitalization of unearned revenue liability of $(38) million, $(38) million and $(13) million for the years ended December 31, 2023, 2022 and 2021, respectively. (2) Excludes reinsurance ceded to Equitable America.

ORGANIZATION (Details)

ORGANIZATION (Details) $ in Thousands			12 Months Ended
	Apr. 01, 2023 USD ($)	Oct. 03, 2022 USD ($)	Dec. 31, 2023 USD ($) principalSubsidiary	Dec. 31, 2022 USD ($)
Reinsurance Retention Policy [Line Items]
Number of principal subsidiaries | principalSubsidiary			2
Funds withheld liability	$ 11,200,000		$ 10,603,000	$ 0
Reinsurance deposit liabilities	12,900,000
Reinsurance Recoverable for Paid Claims and Claims Adjustments	14,200,000		20,636,000	7,131,000
Separate Accounts liabilities			121,497,000	111,479,000
Liability for market risk benefits	8,200,000		14,570,000	15,751,000
Cost of reinsurance asset	1,700,000
Deferred variable annuity		$ 360
Assets			$ 263,089,000	$ 227,416,000
Corporate Solutions Life Reinsurance Company
Reinsurance Retention Policy [Line Items]
Assets		2,800,000
Direct insurance liabilities ceded		4,100,000
Separate account, liability, ceded		5,300,000
Corporate Solutions Life Reinsurance Company | Guaranteed Minimum Withdrawal Benefit
Reinsurance Retention Policy [Line Items]
Fair value		$ 1,200,000
Massachusetts Domiciled Insurance Company
Reinsurance Retention Policy [Line Items]
Guaranteed credit rate		3%
Guaranteed credit amount of general account assets		$ 4,000,000
Reinsurance, guaranteed credit amount of separate account assets		5,000,000
Reinsurance Transaction | Number of Employees, Total
Reinsurance Retention Policy [Line Items]
Deferred variable annuity		$ 360
Reinsurance Transaction | Number of Employees, Total | Global Atlantic Transaction
Reinsurance Retention Policy [Line Items]
Concentration risk		50%
Non-Insulated
Reinsurance Retention Policy [Line Items]
Ceded policyholder account balances	28,800,000
Separate Accounts liabilities	32,400,000
Insulated
Reinsurance Retention Policy [Line Items]
Separate Accounts liabilities	$ 64,100,000

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Effect of Transition Adjustment to Total Equity Resulting (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2023	Apr. 01, 2023	Dec. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Liability for future policy benefits		$ (16,573)		$ (15,935)
Market risk benefits		(14,570)	$ (8,200)	(15,751)
DAC	$ 4,098	$ 4,759		$ 4,814
Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Liability for Future Policy Benefit, Activity [Line Items]
DAC	327
Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Liability for future policy benefits	(821)
Market risk benefits	(4,306)
DAC	467
Unearned revenue liability and sales inducement assets	(128)
Total transition adjustment before taxes	(4,788)
Income taxes	1,006
Total transition adjustment (net of taxes)	(3,782)
Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income | Retained Earnings
Liability for Future Policy Benefit, Activity [Line Items]
Liability for future policy benefits	(2)
Market risk benefits	(3,402)
DAC	0
Unearned revenue liability and sales inducement assets	0
Total transition adjustment before taxes	(3,404)
Income taxes	715
Total transition adjustment (net of taxes)	(2,689)
Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income
Liability for Future Policy Benefit, Activity [Line Items]
Liability for future policy benefits	(819)
Market risk benefits	(904)
DAC	467
Unearned revenue liability and sales inducement assets	(128)
Total transition adjustment before taxes	(1,384)
Income taxes	291
Total transition adjustment (net of taxes)	$ (1,093)

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Balance of and Changes in Liability for Future Policy Benefits (Details) $ in Millions	Dec. 31, 2020 USD ($)
Liability for Future Policy Benefit, Activity [Line Items]
Liability for future policy benefits	$ 8,461
Less: Reinsurance recoverable	(2,209)
Net liability for future policy benefits, after reinsurance recoverable	6,252
Previously Reported
Liability for Future Policy Benefit, Activity [Line Items]
Liability for future policy benefits	7,333
Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	(356)
Effect of remeasurement of liability at current single A rate
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	1,484
Corporate and Other | No Effect Of Application Of Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Net liability for future policy benefits, after reinsurance recoverable	(111)
PFBL | No Effect Of Application Of Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Net liability for future policy benefits, after reinsurance recoverable	30
PDR | No Effect Of Application Of Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Net liability for future policy benefits, after reinsurance recoverable	(146)
Rider Reserves and Term Reinsurance | No Effect Of Application Of Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Net liability for future policy benefits, after reinsurance recoverable	(79)
Term | Protection Solutions
Liability for Future Policy Benefit, Activity [Line Items]
Liability for future policy benefits	1,974
Less: Reinsurance recoverable	(372)
Net liability for future policy benefits, after reinsurance recoverable	1,602
Term | Protection Solutions | Previously Reported
Liability for Future Policy Benefit, Activity [Line Items]
Liability for future policy benefits	1,415
Term | Protection Solutions | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	0
Term | Protection Solutions | Effect of remeasurement of liability at current single A rate
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	559
Payout | Individual Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Liability for future policy benefits	3,407
Less: Reinsurance recoverable	0
Net liability for future policy benefits, after reinsurance recoverable	3,407
Payout | Individual Retirement | Previously Reported
Liability for Future Policy Benefit, Activity [Line Items]
Liability for future policy benefits	3,047
Payout | Individual Retirement | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	(171)
Payout | Individual Retirement | Effect of remeasurement of liability at current single A rate
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	531
Group Pension | Corporate and Other
Liability for Future Policy Benefit, Activity [Line Items]
Liability for future policy benefits	780
Less: Reinsurance recoverable	0
Net liability for future policy benefits, after reinsurance recoverable	780
Group Pension | Corporate and Other | Previously Reported
Liability for Future Policy Benefit, Activity [Line Items]
Liability for future policy benefits	771
Group Pension | Corporate and Other | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	(85)
Group Pension | Corporate and Other | Effect of remeasurement of liability at current single A rate
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	94
Health | Corporate and Other
Liability for Future Policy Benefit, Activity [Line Items]
Liability for future policy benefits	2,300
Less: Reinsurance recoverable	(1,837)
Net liability for future policy benefits, after reinsurance recoverable	463
Health | Corporate and Other | Previously Reported
Liability for Future Policy Benefit, Activity [Line Items]
Liability for future policy benefits	2,100
Health | Corporate and Other | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	(100)
Health | Corporate and Other | Effect of remeasurement of liability at current single A rate
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	$ 300

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Market Risk Benefit, Activity (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				$ 23,416
Previously Reported
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				19,154
Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				(74)
Adjustments for the cumulative effect of the changes in the instrument-specific credit risk between the original contract issuance date and the transition date
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				971
Adjustments for the remaining difference (exclusive of the instrument specific credit risk change and host contract adjustments) between previous carrying amount and fair value measurement for the MRB
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				3,365
GMxB Legacy | Legacy Segment
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk	$ 390	$ (615)	$ 517	24,404
GMxB Legacy | Legacy Segment | Previously Reported
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				19,891
GMxB Legacy | Legacy Segment | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				(70)
GMxB Legacy | Legacy Segment | Adjustments for the cumulative effect of the changes in the instrument-specific credit risk between the original contract issuance date and the transition date
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				461
GMxB Legacy | Legacy Segment | Adjustments for the remaining difference (exclusive of the instrument specific credit risk change and host contract adjustments) between previous carrying amount and fair value measurement for the MRB
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				4,122
GMxB Core | Individual Retirement
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk	254	$ 1	$ 395	2,144
GMxB Core | Individual Retirement | Previously Reported
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				2,206
GMxB Core | Individual Retirement | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				(4)
GMxB Core | Individual Retirement | Adjustments for the cumulative effect of the changes in the instrument-specific credit risk between the original contract issuance date and the transition date
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				505
GMxB Core | Individual Retirement | Adjustments for the remaining difference (exclusive of the instrument specific credit risk change and host contract adjustments) between previous carrying amount and fair value measurement for the MRB
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				(563)
Purchased MRB | Legacy Segment
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				(3,132)
Purchased MRB | Legacy Segment | Previously Reported
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				(2,943)
Purchased MRB | Legacy Segment | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				0
Purchased MRB | Legacy Segment | Adjustments for the cumulative effect of the changes in the instrument-specific credit risk between the original contract issuance date and the transition date
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				5
Purchased MRB | Legacy Segment | Adjustments for the remaining difference (exclusive of the instrument specific credit risk change and host contract adjustments) between previous carrying amount and fair value measurement for the MRB
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				(194)
Purchased MRB | Individual Retirement
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk	$ 86
EQUI-VEST Individual | No Effect Of Application Of Accounting Standards Update 2018-12
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				43
SCS | No Effect Of Application Of Accounting Standards Update 2018-12
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				21
Group Retirement Equi-Vest | No Effect Of Application Of Accounting Standards Update 2018-12
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				$ (20)

SIGNIFICANT ACCOUNTING POLICI_7

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Deferred Policy Acquisition Costs (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2020
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	$ 4,759	$ 4,814	$ 4,098
Closed block liabilities	5,518	5,760
Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			3,771
Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			327
Closed block liabilities			136
Protection Solutions | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			3
Term | Protection Solutions
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	338	362	403
Term | Protection Solutions | Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			403
Term | Protection Solutions | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			0
UL | Protection Solutions
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	22	20	5
UL | Protection Solutions | Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			0
UL | Protection Solutions | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			5
VUL | Protection Solutions
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	182	112	6
VUL | Protection Solutions | Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			0
VUL | Protection Solutions | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			6
IUL | Protection Solutions
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			0
IUL | Protection Solutions | Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			0
IUL | Protection Solutions | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			0
GMxB Legacy | Legacy Segment
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	208	213	200
GMxB Legacy | Legacy Segment | Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			192
GMxB Legacy | Legacy Segment | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			8
GMxB Core | Individual Retirement
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	1,483	1,585	1,646
GMxB Core | Individual Retirement | Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			1,635
GMxB Core | Individual Retirement | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			11
EI | Individual Retirement
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	150	156	154
EI | Individual Retirement | Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			141
EI | Individual Retirement | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			13
IE | Individual Retirement
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	150	147	94
IE | Individual Retirement | Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			95
IE | Individual Retirement | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			(1)
SCS | Individual Retirement
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			855
SCS | Individual Retirement | Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			645
SCS | Individual Retirement | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			210
EG | Group Retirement
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	723	711	634
EG | Group Retirement | Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			581
EG | Group Retirement | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			53
Momentum | Group Retirement
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	$ 82	$ 89	101
Momentum | Group Retirement | Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			79
Momentum | Group Retirement | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			$ 22

SIGNIFICANT ACCOUNTING POLICI_8

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Deferred Income (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred Sale Inducement Cost [Line Items]
Sales Inducement Assets				$ 404
Previously Reported
Deferred Sale Inducement Cost [Line Items]
Sales Inducement Assets				404
Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Deferred Sale Inducement Cost [Line Items]
Sales Inducement Assets				0
Protection Solutions
Deferred Sale Inducement Cost [Line Items]
Unearned Revenue Liability				541
Protection Solutions | Previously Reported
Deferred Sale Inducement Cost [Line Items]
Unearned Revenue Liability				413
Protection Solutions | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Deferred Sale Inducement Cost [Line Items]
Unearned Revenue Liability				128
GMxB Legacy | Legacy Segment
Deferred Sale Inducement Cost [Line Items]
Sales Inducement Assets				246
GMxB Legacy | Legacy Segment | Previously Reported
Deferred Sale Inducement Cost [Line Items]
Sales Inducement Assets				246
GMxB Legacy | Legacy Segment | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Deferred Sale Inducement Cost [Line Items]
Sales Inducement Assets				0
GMxB Core
Deferred Sale Inducement Cost [Line Items]
Sales Inducement Assets	$ 126	$ 137	$ 147
GMxB Core | Individual Retirement
Deferred Sale Inducement Cost [Line Items]
Sales Inducement Assets				158
GMxB Core | Individual Retirement | Previously Reported
Deferred Sale Inducement Cost [Line Items]
Sales Inducement Assets				158
GMxB Core | Individual Retirement | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Deferred Sale Inducement Cost [Line Items]
Sales Inducement Assets				0
UL | Protection Solutions
Deferred Sale Inducement Cost [Line Items]
Unearned Revenue Liability				60
UL | Protection Solutions | Previously Reported
Deferred Sale Inducement Cost [Line Items]
Unearned Revenue Liability				31
UL | Protection Solutions | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Deferred Sale Inducement Cost [Line Items]
Unearned Revenue Liability				29
VUL | Protection Solutions
Deferred Sale Inducement Cost [Line Items]
Unearned Revenue Liability				481
VUL | Protection Solutions | Previously Reported
Deferred Sale Inducement Cost [Line Items]
Unearned Revenue Liability				382
VUL | Protection Solutions | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Deferred Sale Inducement Cost [Line Items]
Unearned Revenue Liability				99
IUL | Protection Solutions
Deferred Sale Inducement Cost [Line Items]
Unearned Revenue Liability				0
IUL | Protection Solutions | Previously Reported
Deferred Sale Inducement Cost [Line Items]
Unearned Revenue Liability				0
IUL | Protection Solutions | Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Deferred Sale Inducement Cost [Line Items]
Unearned Revenue Liability				$ 0

SIGNIFICANT ACCOUNTING POLICI_9

SIGNIFICANT ACCOUNTING POLICIES - Investments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Carrying value of COLI	$ 918	$ 888

SIGNIFICANT ACCOUNTING POLIC_10

SIGNIFICANT ACCOUNTING POLICIES - Capitalized Computer Software and Hosting Arrangements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Capitalized Computer Software and Hosting Arrangements [Abstract]
Computer software and hosting arrangements	$ 149	$ 162
Amortization of computer software and hosting arrangements	$ 27	$ 0	$ 46
Minimum | Computer Software, Intangible Asset
Capitalized Computer Software and Hosting Arrangements [Abstract]
Intangible asset useful life	3 years
Maximum | Computer Software, Intangible Asset
Capitalized Computer Software and Hosting Arrangements [Abstract]
Intangible asset useful life	5 years

SIGNIFICANT ACCOUNTING POLIC_11

SIGNIFICANT ACCOUNTING POLICIES - Accounting and Consolidation of Variable Interest Entities (VIEs) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Assets	$ 263,089	$ 227,416
Investments	86,080	85,034
Consolidated Limited Partnerships
Variable Interest Entity [Line Items]
Assets	1,100	410
Non-consolidated Vairable Interest Entities
Variable Interest Entity [Line Items]
Assets	268,500	282,300
Investments	2,500	2,300
Variable interest, maximum loss exposure	2,500	2,300
Unfunded commitments	$ 1,200	$ 1,300

SIGNIFICANT ACCOUNTING POLIC_12

SIGNIFICANT ACCOUNTING POLICIES - Assumption Updates (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Change in Accounting Estimate [Line Items]
Other income	$ 1,134	$ 334	$ 225
Increase in remeasurement of liability for future policy benefits	(37)	(50)	(30)
Increase (decrease) in policyholders' benefit	1,781	2,327	2,407
Increase (decrease) in income (loss) from continuing operation, before income taxes	(1,073)	1,982	1,303
Increase (decrease) in net income (loss)	157	1,594	1,111
Long-term Lapses Partial Withdrawal Rates And Election Assumptions Updates
Change in Accounting Estimate [Line Items]
Other income	(51)
Increase in remeasurement of liability for future policy benefits	36	8	37
Increase (decrease) in policyholders' benefit	10	(2)	(30)
Increase (decrease) in market risk benefits and purchased market risk benefits	(50)	206	(414)
Increase in interest credited to policyholder account balances		1	1
Increase (decrease) in income (loss) from continuing operation, before income taxes	(47)	(213)	404
Increase (decrease) in net income (loss)	$ (37)	$ (168)	319
Increase in amortization of DAC			$ 2

SIGNIFICANT ACCOUNTING POLIC_13

SIGNIFICANT ACCOUNTING POLICIES - Out of Period Adjustment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net investment income (loss)	$ 3,601	$ 3,077	$ 3,483
Accumulated other comprehensive income (loss)	(6,938)	$ (7,855)
Revision of Prior Period Adjustments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net investment income (loss)	46.4
Accumulated other comprehensive income (loss)	$ (46.4)

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) loan issue	Dec. 31, 2022 USD ($) issue	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Net Investment Income [Line Items]
Number of unrealized loss positions | issue	3,986	4,798
Debt securities exposure in single issuer greater than stated percentage of total investments	1%
Amortized cost of fixed maturities available-for-sale	$ 61,884,000,000	$ 68,087,000,000
12 months or longer, gross unrealized losses	6,836,000,000	4,957,000,000
Loaned securities	$ 91,000,000
Minimum requirement percentage of the fair value of the loaned securities to be held as cash collateral	102%
Cash collateral	$ 93,000,000
Amortized cost	234,000,000
Allowance for credit loss	$ 277,000,000	129,000,000	$ 62,000,000
Number of loans | loan	4
Percentage of total commercial mortgage loans representing amortized cost	1.50%
Number of troubled debt restructuring extensions | loan	2
Separate account equity investment carrying value	$ 48,000,000	38,000,000
Interest credited to policyholders account balances participating group annuity contracts	1,000,000	1,000,000	2,000,000
Recurring
Net Investment Income [Line Items]
Trading securities, at fair value	$ 257,000,000	283,000,000
Minimum
Net Investment Income [Line Items]
Debt instrument term	17 months
Maximum
Net Investment Income [Line Items]
Debt instrument term	4 years
Commercial, Agricultural And Residential Mortgage Loan
Net Investment Income [Line Items]
Accrued investment income receivable	$ 81,000,000	71,000,000
Accrued interest written off	$ 0	0
Individually Assessed Mortgage loans
Net Investment Income [Line Items]
Number of mortgage loans, foreclosure probable | loan	1
Amortized cost	$ 108,000,000
Allowance for credit loss	54,000,000
Mortgage Loans
Net Investment Income [Line Items]
Non-accruing loans, carrying value	127,000,000	16,000,000
Commercial mortgages:
Net Investment Income [Line Items]
Allowance for credit loss	270,000,000	123,000,000	57,000,000	$ 77,000,000
Fixed maturities
Net Investment Income [Line Items]
Accrued investment income receivable	528,000,000	550,000,000
Accrued interest written off	0	0	$ 0
Amortized cost of fixed maturities available-for-sale	61,900,000,000	68,100,000,000
Fixed maturities | Non-Investment Grade
Net Investment Income [Line Items]
Available-for-sale securities, amortized cost basis other than investment grade	$ 2,500,000,000	$ 2,900,000,000
Percentage of available for sale securities	4.10%	4.30%
Unrealized loss on available for sale securities	$ 102,000,000	$ 208,000,000
Corporate
Net Investment Income [Line Items]
Exposure in single issuer of total investments	$ 360,000,000	$ 327,000,000
Debt securities exposure in single issuer of total investments, percentage	21.90%	30.40%
Amortized cost of fixed maturities available-for-sale	$ 42,014,000,000	$ 46,053,000,000
12 months or longer, gross unrealized losses	$ 4,839,000,000	$ 4,222,000,000

INVESTMENTS - Available-for-sal

INVESTMENTS - Available-for-sale Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 61,884	$ 68,087
Allowance for Credit Losses	4	24
Gross Unrealized Gains	257	105
Gross Unrealized Losses	6,972	9,221
Fair Value	55,165	58,947
Amortized Cost (Less Allowance for Credit Losses)
Due in one year or less	1,075
Due in years two through five	12,330
Due in years six through ten	12,868
Due after ten years	22,590
Subtotal	48,863
Amortized Cost (Less Allowance for Credit Losses)	61,880
Fair Value
Due in one year or less	1,067
Due in years two through five	11,873
Due in years six through ten	11,890
Due after ten years	18,027
Subtotal	42,857
Fair Value	55,165	58,947
Available For Sale Fixed Maturities Proceeds Gross Gains And Gross Losses From Sales And Other Than Temporary Impairments [Abstract]
Proceeds from sales	6,471	11,683	$ 26,678
Gross gains on sales	9	38	1,141
Gross losses on sales	(594)	(668)	(189)
Net (increase) decrease in Allowance for Credit and Intent to Sell losses	(67)	(253)	(16)
Gross gains on sales related to funds withheld assets held	0
Gross losses on sales related to funds withheld assets held	(153)
Fixed Maturities - Credit Loss Impairments
Balances, beginning of period	36	42	28
Previously recognized impairments on securities that matured, paid, prepaid or sold	(65)	(261)	(2)
Recognized impairments on securities impaired to fair value this period	50	246	0
Credit losses recognized this period on securities for which credit losses were not previously recognized	15	0	9
Additional credit losses this period on securities previously impaired	12	9	7
Balances, end of period	48	36	$ 42
Global Atlantic Transaction
Fixed Maturities - Credit Loss Impairments
Recognized impairments on securities impaired to fair value this period		245
Corporate
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	42,014	46,053
Allowance for Credit Losses	4	24
Gross Unrealized Gains	217	89
Gross Unrealized Losses	4,960	6,655
Fair Value	37,267	39,463
Fair Value
Fair Value	37,267	39,463
U.S. Treasury, government and agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,639	7,049
Allowance for Credit Losses	0	0
Gross Unrealized Gains	2	1
Gross Unrealized Losses	1,102	1,312
Fair Value	4,539	5,738
Fair Value
Fair Value	4,539	5,738
States and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	525	540
Allowance for Credit Losses	0	0
Gross Unrealized Gains	9	7
Gross Unrealized Losses	64	76
Fair Value	470	471
Fair Value
Fair Value	470	471
Foreign governments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	689	985
Allowance for Credit Losses	0	0
Gross Unrealized Gains	2	2
Gross Unrealized Losses	110	151
Fair Value	581	836
Fair Value
Fair Value	581	836
Residential mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,469	860
Allowance for Credit Losses	0	0
Gross Unrealized Gains	3	1
Gross Unrealized Losses	128	84
Fair Value	1,344	777
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	1,469
Fair Value
Without single maturity date	1,344
Fair Value	1,344	777
Asset-backed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	8,092	8,817
Allowance for Credit Losses	0	0
Gross Unrealized Gains	20	3
Gross Unrealized Losses	107	371
Fair Value	8,005	8,449
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	8,092
Fair Value
Without single maturity date	8,005
Fair Value	8,005	8,449
Commercial mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,400	3,742
Allowance for Credit Losses	0	0
Gross Unrealized Gains	1	0
Gross Unrealized Losses	501	572
Fair Value	2,900	3,170
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	3,400
Fair Value
Without single maturity date	2,900
Fair Value	2,900	3,170
Redeemable preferred stock
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	56	41
Allowance for Credit Losses	0	0
Gross Unrealized Gains	3	2
Gross Unrealized Losses	0	0
Fair Value	59	43
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	56
Fair Value
Without single maturity date	59
Fair Value	$ 59	$ 43

INVESTMENTS - Net Unrealized Ga

INVESTMENTS - Net Unrealized Gains (Losses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Beginning balance	$ (1,074)	$ 7,483	$ 11,643
Net unrealized investment gains (losses)	2,207	(12,215)	(2,979)
Ending balance	(1,641)	(1,074)	7,483
Valuation allowance	217	1,489
Unrealized gains (losses) on investments
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Beginning balance	(8,873)
Ending balance	(6,363)	(8,873)
Unrealized gains (losses) on investments | Unrealized Investment Gains Losses, All Other | Net Unrealized Gains (Losses) on Investments
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Beginning balance	(9,116)	4,462	8,230
Transition adjustment			0
Net investment gains (losses) arising during the period	1,753	(14,456)	(2,902)
Included in net income (loss)	652	885	(835)
Other		0	(31)
Impact of net unrealized investment gains (losses)	0	0	0
Ending balance	(6,715)	(9,116)	4,462
Unrealized gains (losses) on investments | Unrealized Investment Gains Losses, All Other | DAC
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Beginning balance	0	0	(466)
Transition adjustment			466
Net investment gains (losses) arising during the period	0	0	0
Included in net income (loss)	0	0	0
Other		0	0
Impact of net unrealized investment gains (losses)	0	0	0
Ending balance	0	0	0
Unrealized gains (losses) on investments | Unrealized Investment Gains Losses, All Other | Policyholders’ Liabilities
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Beginning balance	21	(703)	(1,814)
Transition adjustment			426
Net investment gains (losses) arising during the period	0	0	0
Included in net income (loss)	0	0	0
Other		0	0
Impact of net unrealized investment gains (losses)	(8)	724	686
Ending balance	13	21	(703)
Unrealized gains (losses) on investments | Unrealized Investment Gains Losses, All Other | Deferred Income Tax Asset (Liability)
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Beginning balance	420	(790)	(1,250)
Transition adjustment			0
Net investment gains (losses) arising during the period	0	0	0
Included in net income (loss)	0	0	0
Other		(1,489)	0
Impact of net unrealized investment gains (losses)	987	2,698	460
Ending balance	1,408	420	(790)
Unrealized gains (losses) on investments | Unrealized Investment Gains Losses, All Other | AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses)
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Beginning balance	(8,675)	2,969	4,700
Transition adjustment			892
Net investment gains (losses) arising during the period	1,753	(14,456)	(2,902)
Included in net income (loss)	652	885	(835)
Other		(1,489)	(31)
Impact of net unrealized investment gains (losses)	979	3,422	1,146
Ending balance	(5,294)	(8,675)	2,969
Unrealized gains (losses) on investments | Net unrealized investment gains (losses) excluding credit losses | Net Unrealized Gains (Losses) on Investments
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Net unrealized investment gains (losses)	(6,711)	(9,109)	4,462
Unrealized gains (losses) on investments | Net unrealized investment gains (losses) excluding credit losses | DAC
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Net unrealized investment gains (losses)	0	0	0
Unrealized gains (losses) on investments | Net unrealized investment gains (losses) excluding credit losses | Policyholders’ Liabilities
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Net unrealized investment gains (losses)	13	21	(702)
Unrealized gains (losses) on investments | Net unrealized investment gains (losses) excluding credit losses | Deferred Income Tax Asset (Liability)
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Net unrealized investment gains (losses)	1,407	419	(790)
Unrealized gains (losses) on investments | Net unrealized investment gains (losses) excluding credit losses | AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses)
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Net unrealized investment gains (losses)	(5,291)	(8,669)	2,970
Unrealized gains (losses) on investments | Net unrealized investment gains (losses) with credit losses | Net Unrealized Gains (Losses) on Investments
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Net unrealized investment gains (losses)	(4)	(7)	0
Unrealized gains (losses) on investments | Net unrealized investment gains (losses) with credit losses | DAC
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Net unrealized investment gains (losses)	0	0	0
Unrealized gains (losses) on investments | Net unrealized investment gains (losses) with credit losses | Policyholders’ Liabilities
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Net unrealized investment gains (losses)	0	0	(1)
Unrealized gains (losses) on investments | Net unrealized investment gains (losses) with credit losses | Deferred Income Tax Asset (Liability)
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Net unrealized investment gains (losses)	1	1	0
Unrealized gains (losses) on investments | Net unrealized investment gains (losses) with credit losses | AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses)
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Net unrealized investment gains (losses)	$ (3)	$ (6)	$ (1)

INVESTMENTS - Fixed Maturities

INVESTMENTS - Fixed Maturities Available-for-sale (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Less than twelve months, fair value	$ 2,196	$ 36,438
Less than 12 months, gross unrealized losses	134	4,262
12 months or longer, fair value	44,061	19,212
12 months or longer, gross unrealized losses	6,836	4,957
Total fair value	46,257	55,650
Total gross unrealized losses	6,970	9,219
Corporate
Debt Securities, Available-for-sale [Line Items]
Less than twelve months, fair value	1,693	22,034
Less than 12 months, gross unrealized losses	119	2,431
12 months or longer, fair value	29,617	15,014
12 months or longer, gross unrealized losses	4,839	4,222
Total fair value	31,310	37,048
Total gross unrealized losses	4,958	6,653
U.S. Treasury, government and agency
Debt Securities, Available-for-sale [Line Items]
Less than twelve months, fair value	111	5,465
Less than 12 months, gross unrealized losses	2	1,294
12 months or longer, fair value	4,361	204
12 months or longer, gross unrealized losses	1,100	18
Total fair value	4,472	5,669
Total gross unrealized losses	1,102	1,312
States and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Less than twelve months, fair value	10	91
Less than 12 months, gross unrealized losses	0	18
12 months or longer, fair value	244	158
12 months or longer, gross unrealized losses	64	58
Total fair value	254	249
Total gross unrealized losses	64	76
Foreign governments
Debt Securities, Available-for-sale [Line Items]
Less than twelve months, fair value	8	349
Less than 12 months, gross unrealized losses	1	42
12 months or longer, fair value	514	418
12 months or longer, gross unrealized losses	109	109
Total fair value	522	767
Total gross unrealized losses	110	151
Residential mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Less than twelve months, fair value	74	665
Less than 12 months, gross unrealized losses	1	49
12 months or longer, fair value	1,030	79
12 months or longer, gross unrealized losses	127	35
Total fair value	1,104	744
Total gross unrealized losses	128	84
Asset-backed
Debt Securities, Available-for-sale [Line Items]
Less than twelve months, fair value	238	6,262
Less than 12 months, gross unrealized losses	0	228
12 months or longer, fair value	5,499	1,759
12 months or longer, gross unrealized losses	107	143
Total fair value	5,737	8,021
Total gross unrealized losses	107	371
Commercial mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Less than twelve months, fair value	62	1,572
Less than 12 months, gross unrealized losses	11	200
12 months or longer, fair value	2,796	1,580
12 months or longer, gross unrealized losses	490	372
Total fair value	2,858	3,152
Total gross unrealized losses	$ 501	$ 572

INVESTMENTS - Mortgage Loans (D

INVESTMENTS - Mortgage Loans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 129	$ 62
Balance, end of period	277	129	$ 62
Commercial mortgages:
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	123	57	77
Current-period provision for expected credit losses	147	66	(20)
Write-offs charged against the allowance	0	0	0
Recoveries of amounts previously written off	0	0	0
Net change in allowance	147	66	(20)
Balance, end of period	270	123	57
Agricultural mortgages:
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	6	5	4
Current-period provision for expected credit losses	0	1	1
Write-offs charged against the allowance	0	0	0
Recoveries of amounts previously written off	0	0	0
Net change in allowance	0	1	1
Balance, end of period	6	6	5
Residential mortgages:
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	0	0	0
Current-period provision for expected credit losses	1	0	0
Write-offs charged against the allowance	0	0	0
Recoveries of amounts previously written off	0	0	0
Net change in allowance	1	0	0
Balance, end of period	$ 1	$ 0	$ 0

INVESTMENTS - Credit Quality (D

INVESTMENTS - Credit Quality (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	$ 18,154	$ 16,593
Total accruing loans	17,901	16,577
Non-accruing Loans	253	16
Non-accruing Loans with No Allowance	0	0
Interest Income on Non-accruing Loans	7	0
Past Due
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	84	77
30-59 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	39	59
60-89 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	5	5
90 Days or More
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	40	13
Current
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	17,817	16,500
Commercial:
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	1,202	3,272
Fiscal year before current fiscal year	3,277	2,114
Two years before current fiscal year	2,102	1,369
Three years before current fiscal year	1,362	642
Four years before current fiscal year	636	1,201
Prior	6,101	5,043
Revolving Loans Amortized Cost Basis	500	328
Revolving Loans Converted to Term Loans Amortized Cost Basis	131	34
Total	15,311	14,003
Total accruing loans	15,077	14,003
Non-accruing Loans	234	0
Non-accruing Loans with No Allowance	0	0
Interest Income on Non-accruing Loans	7	0
Commercial: | Past Due
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	32	56
Commercial: | 30-59 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	32	56
Commercial: | 60-89 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	0	0
Commercial: | 90 Days or More
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	0	0
Commercial: | Current
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	15,045	13,947
Commercial: | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	175	771
Fiscal year before current fiscal year	693	1,159
Two years before current fiscal year	1,125	1,113
Three years before current fiscal year	1,135	102
Four years before current fiscal year	249	571
Prior	3,256	1,911
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	6,633	5,627
Commercial: | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	158
Fiscal year before current fiscal year	0	215
Two years before current fiscal year	182	164
Three years before current fiscal year	167	197
Four years before current fiscal year	171	186
Prior	662	477
Revolving Loans Amortized Cost Basis	383	279
Revolving Loans Converted to Term Loans Amortized Cost Basis	96	0
Total	1,661	1,676
Commercial: | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	80	337
Fiscal year before current fiscal year	1,060	390
Two years before current fiscal year	234	32
Three years before current fiscal year	0	153
Four years before current fiscal year	162	176
Prior	924	1,175
Revolving Loans Amortized Cost Basis	0	4
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	2,460	2,267
Commercial: | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	469	1,041
Fiscal year before current fiscal year	687	259
Two years before current fiscal year	457	0
Three years before current fiscal year	0	92
Four years before current fiscal year	11	73
Prior	838	917
Revolving Loans Amortized Cost Basis	41	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	2,503	2,382
Commercial: | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	470	507
Fiscal year before current fiscal year	668	43
Two years before current fiscal year	38	60
Three years before current fiscal year	0	98
Four years before current fiscal year	43	160
Prior	317	492
Revolving Loans Amortized Cost Basis	76	45
Revolving Loans Converted to Term Loans Amortized Cost Basis	35	34
Total	1,647	1,439
Commercial: | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	8	458
Fiscal year before current fiscal year	169	48
Two years before current fiscal year	66	0
Three years before current fiscal year	60	0
Four years before current fiscal year	0	35
Prior	104	71
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	407	612
Commercial: | 0% - 50%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	191	624
Fiscal year before current fiscal year	164	130
Two years before current fiscal year	129	0
Three years before current fiscal year	35	0
Four years before current fiscal year	0	119
Prior	1,540	1,242
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	2,059	2,115
Commercial: | 50% - 70%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	703	2,285
Fiscal year before current fiscal year	1,916	1,569
Two years before current fiscal year	671	906
Three years before current fiscal year	750	313
Four years before current fiscal year	299	623
Prior	2,319	2,254
Revolving Loans Amortized Cost Basis	463	328
Revolving Loans Converted to Term Loans Amortized Cost Basis	96	0
Total	7,217	8,278
Commercial: | 70% - 90%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	308	363
Fiscal year before current fiscal year	1,197	415
Two years before current fiscal year	1,236	463
Three years before current fiscal year	523	329
Four years before current fiscal year	245	424
Prior	1,384	1,314
Revolving Loans Amortized Cost Basis	37	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	35	34
Total	4,965	3,342
Commercial: | 90% plus
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	66	0
Three years before current fiscal year	54	0
Four years before current fiscal year	92	35
Prior	858	233
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	1,070	268
Agricultural:
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	162	353
Fiscal year before current fiscal year	308	367
Two years before current fiscal year	343	450
Three years before current fiscal year	436	197
Four years before current fiscal year	190	215
Prior	1,106	1,008
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	2,545	2,590
Total accruing loans	2,526	2,574
Non-accruing Loans	19	16
Non-accruing Loans with No Allowance	0	0
Interest Income on Non-accruing Loans	0	0
Agricultural: | Past Due
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	52	21
Agricultural: | 30-59 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	7	3
Agricultural: | 60-89 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	5	5
Agricultural: | 90 Days or More
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	40	13
Agricultural: | Current
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	2,474	2,553
Agricultural: | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	7	51
Fiscal year before current fiscal year	50	40
Two years before current fiscal year	36	62
Three years before current fiscal year	59	21
Four years before current fiscal year	20	12
Prior	179	193
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	351	379
Agricultural: | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	18	16
Fiscal year before current fiscal year	16	58
Two years before current fiscal year	56	35
Three years before current fiscal year	33	24
Four years before current fiscal year	23	14
Prior	61	51
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	207	198
Agricultural: | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	12	69
Fiscal year before current fiscal year	50	42
Two years before current fiscal year	31	111
Three years before current fiscal year	109	18
Four years before current fiscal year	17	19
Prior	193	196
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	412	455
Agricultural: | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	46	107
Fiscal year before current fiscal year	111	147
Two years before current fiscal year	148	177
Three years before current fiscal year	170	98
Four years before current fiscal year	98	99
Prior	365	298
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	938	926
Agricultural: | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	47	91
Fiscal year before current fiscal year	57	80
Two years before current fiscal year	68	61
Three years before current fiscal year	57	30
Four years before current fiscal year	26	60
Prior	284	257
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	539	579
Agricultural: | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	32	19
Fiscal year before current fiscal year	24	0
Two years before current fiscal year	4	4
Three years before current fiscal year	8	6
Four years before current fiscal year	6	11
Prior	24	13
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	98	53
Agricultural: | 0% - 50%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	102	163
Fiscal year before current fiscal year	162	182
Two years before current fiscal year	191	228
Three years before current fiscal year	235	129
Four years before current fiscal year	132	132
Prior	802	725
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	1,624	1,559
Agricultural: | 50% - 70%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	60	190
Fiscal year before current fiscal year	146	185
Two years before current fiscal year	152	222
Three years before current fiscal year	201	68
Four years before current fiscal year	58	83
Prior	288	267
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	905	1,015
Agricultural: | 70% - 90%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	16	16
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	16	16
Agricultural: | 90% plus
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	0	0
Total commercial and agricultural mortgage loans:
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	1,364	3,625
Fiscal year before current fiscal year	3,585	2,481
Two years before current fiscal year	2,445	1,819
Three years before current fiscal year	1,798	839
Four years before current fiscal year	826	1,416
Prior	7,207	6,051
Revolving Loans Amortized Cost Basis	500	328
Revolving Loans Converted to Term Loans Amortized Cost Basis	131	34
Total	17,856	16,593
Total commercial and agricultural mortgage loans: | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	182	822
Fiscal year before current fiscal year	743	1,199
Two years before current fiscal year	1,161	1,175
Three years before current fiscal year	1,194	123
Four years before current fiscal year	269	583
Prior	3,435	2,104
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	6,984	6,006
Total commercial and agricultural mortgage loans: | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	18	174
Fiscal year before current fiscal year	16	273
Two years before current fiscal year	238	199
Three years before current fiscal year	200	221
Four years before current fiscal year	194	200
Prior	723	528
Revolving Loans Amortized Cost Basis	383	279
Revolving Loans Converted to Term Loans Amortized Cost Basis	96	0
Total	1,868	1,874
Total commercial and agricultural mortgage loans: | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	92	406
Fiscal year before current fiscal year	1,110	432
Two years before current fiscal year	265	143
Three years before current fiscal year	109	171
Four years before current fiscal year	179	195
Prior	1,117	1,371
Revolving Loans Amortized Cost Basis	0	4
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	2,872	2,722
Total commercial and agricultural mortgage loans: | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	515	1,148
Fiscal year before current fiscal year	798	406
Two years before current fiscal year	605	177
Three years before current fiscal year	170	190
Four years before current fiscal year	109	172
Prior	1,203	1,215
Revolving Loans Amortized Cost Basis	41	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	3,441	3,308
Total commercial and agricultural mortgage loans: | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	517	598
Fiscal year before current fiscal year	725	123
Two years before current fiscal year	106	121
Three years before current fiscal year	57	128
Four years before current fiscal year	69	220
Prior	601	749
Revolving Loans Amortized Cost Basis	76	45
Revolving Loans Converted to Term Loans Amortized Cost Basis	35	34
Total	2,186	2,018
Total commercial and agricultural mortgage loans: | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	40	477
Fiscal year before current fiscal year	193	48
Two years before current fiscal year	70	4
Three years before current fiscal year	68	6
Four years before current fiscal year	6	46
Prior	128	84
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	505	665
Total commercial and agricultural mortgage loans: | 0% - 50%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	293	787
Fiscal year before current fiscal year	326	312
Two years before current fiscal year	320	228
Three years before current fiscal year	270	129
Four years before current fiscal year	132	251
Prior	2,342	1,967
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	3,683	3,674
Total commercial and agricultural mortgage loans: | 50% - 70%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	763	2,475
Fiscal year before current fiscal year	2,062	1,754
Two years before current fiscal year	823	1,128
Three years before current fiscal year	951	381
Four years before current fiscal year	357	706
Prior	2,607	2,521
Revolving Loans Amortized Cost Basis	463	328
Revolving Loans Converted to Term Loans Amortized Cost Basis	96	0
Total	8,122	9,293
Total commercial and agricultural mortgage loans: | 70% - 90%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	308	363
Fiscal year before current fiscal year	1,197	415
Two years before current fiscal year	1,236	463
Three years before current fiscal year	523	329
Four years before current fiscal year	245	424
Prior	1,400	1,330
Revolving Loans Amortized Cost Basis	37	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	35	34
Total	4,981	3,358
Total commercial and agricultural mortgage loans: | 90% plus
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	66	0
Three years before current fiscal year	54	0
Four years before current fiscal year	92	35
Prior	858	233
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	1,070	268
Residential mortgages:
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	98
Fiscal year before current fiscal year	121
Two years before current fiscal year	74
Three years before current fiscal year	2
Four years before current fiscal year	1
Prior	2
Total	298	0
Total accruing loans	298	0
Non-accruing Loans	0	0
Non-accruing Loans with No Allowance	0	0
Interest Income on Non-accruing Loans	0	0
Residential mortgages: | Past Due
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	0	0
Residential mortgages: | 30-59 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	0	0
Residential mortgages: | 60-89 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	0	0
Residential mortgages: | 90 Days or More
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	0	0
Residential mortgages: | Current
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	$ 298	$ 0

INVESTMENTS - Amortized Cost of

INVESTMENTS - Amortized Cost of Loans by Credit Quality Indicator and Origination Year (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Amortized Cost Basis by Origination Year
Total	$ 18,154	$ 16,593
Residential mortgages:
Amortized Cost Basis by Origination Year
Current fiscal year	98
Fiscal year before current fiscal year	121
Two years before current fiscal year	74
Three years before current fiscal year	2
Four years before current fiscal year	1
Prior	2
Total	298	$ 0
Residential mortgages: | Performing
Amortized Cost Basis by Origination Year
Current fiscal year	98
Fiscal year before current fiscal year	121
Two years before current fiscal year	74
Three years before current fiscal year	2
Four years before current fiscal year	1
Prior	2
Total	298
Residential mortgages: | Nonperforming
Amortized Cost Basis by Origination Year
Current fiscal year	0
Fiscal year before current fiscal year	0
Two years before current fiscal year	0
Three years before current fiscal year	0
Four years before current fiscal year	0
Prior	0
Total	$ 0

INVESTMENTS - Equity Securities

INVESTMENTS - Equity Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Net investment gains (losses) recognized during the period on securities held at the end of the period	$ 31	$ (109)	$ 9
Net investment gains (losses) recognized on securities sold during the period	(8)	(36)	(2)
Unrealized and realized gains (losses) on equity securities	$ 23	$ (145)	$ 7

INVESTMENTS - Trading Securitie

INVESTMENTS - Trading Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Net investment gains (losses) recognized during the period on securities held at the end of the period	$ 19	$ (35)	$ (264)
Net investment gains (losses) recognized on securities sold during the period	(5)	(6)	206
Unrealized and realized gains (losses) on trading securities	14	(41)	(58)
Interest and dividend income from trading securities	12	13	92
Net investment income (loss) from trading securities	$ 26	$ (28)	$ 34

INVESTMENTS - Net Investment In

INVESTMENTS - Net Investment Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net Investment Income [Line Items]
Gross investment income (loss)	$ 3,926	$ 3,370	$ 3,655
Investment expenses	(325)	(293)	(172)
Net investment income (loss)	3,601	3,077	3,483
Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	2,836	3,370	3,655
Investment expenses	(229)	(293)	(172)
Net investment income (loss)	2,607	3,077	3,483
Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	1,090	0	0
Investment expenses	(96)	0	0
Net investment income (loss)	994	0	0
Fixed maturities
Net Investment Income [Line Items]
Gross investment income (loss)	2,764	2,478	2,293
Fixed maturities | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	1,936	2,478	2,293
Fixed maturities | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	828	0	0
Mortgage loans on real estate
Net Investment Income [Line Items]
Gross investment income (loss)	803	586	547
Mortgage loans on real estate | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	542	586	547
Mortgage loans on real estate | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	261	0	0
Other equity investments
Net Investment Income [Line Items]
Gross investment income (loss)	104	74	525
Other equity investments | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	125	74	525
Other equity investments | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	(21)	0	0
Policy loans
Net Investment Income [Line Items]
Gross investment income (loss)	199	203	209
Policy loans | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	199	203	209
Policy loans | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	0	0	0
Trading securities
Net Investment Income [Line Items]
Gross investment income (loss)	26	(28)	34
Trading securities | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	26	(28)	34
Trading securities | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	0	0	0
Other investment income
Net Investment Income [Line Items]
Gross investment income (loss)	30	57	47
Other investment income | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	8	57	47
Other investment income | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	$ 22	$ 0	$ 0

INVESTMENTS - Investment Gains

INVESTMENTS - Investment Gains (Losses), Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net Investment Income [Line Items]
Investment gains (losses), net	$ (800)	$ (962)	$ 853
Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	(555)	(962)	853
Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	(245)	0	0
Fixed maturities
Net Investment Income [Line Items]
Investment gains (losses), net	(652)	(885)	834
Fixed maturities | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	(497)	(885)	834
Fixed maturities | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	(155)	0	0
Mortgage loans on real estate
Net Investment Income [Line Items]
Investment gains (losses), net	(149)	(66)	20
Mortgage loans on real estate | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	(59)	(66)	20
Mortgage loans on real estate | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	(90)	0	0
Other equity investments
Net Investment Income [Line Items]
Investment gains (losses), net	0	0	0
Other equity investments | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	0	0	0
Other equity investments | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	0	0	0
Other
Net Investment Income [Line Items]
Investment gains (losses), net	1	(11)	(1)
Other | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	1	(11)	(1)
Other | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	$ 0	$ 0	$ 0

DERIVATIVES - Narrative (Detail

DERIVATIVES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Cash and securities collateral for derivative contract	$ 8,300	$ 4,500
Cash and securities collateral	75	142
S&P 500, Russell 1000, NASDAQ 100 and Emerging Market Indices
Derivative [Line Items]
Initial margin requirements	248	222
Us Treasury Notes Ultra Long Bonds And Euro Dollar
Derivative [Line Items]
Initial margin requirements	100	103
Euro Stoxx, FTSE100, Topix, ASX200 and EAFE Indices
Derivative [Line Items]
Initial margin requirements	$ 14	$ 16

DERIVATIVES - Derivatives by Ca

DERIVATIVES - Derivatives by Category (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
SCS, SIO, MSO and IUL indexed features
Derivatives, Fair Value [Line Items]
Notional Amount	$ 0	$ 0
Notional Amount - FWH and NI Modco	0	0
Derivative Assets	7,140	0
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	9,081	4,077
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	(1,941)	(4,077)
Funds Withheld Payable
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Notional Amount - FWH and NI Modco	0	0
Derivative Assets	0	0
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	100	0
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	(100)	0
Modco payable
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Notional Amount - FWH and NI Modco	0	0
Derivative Assets	(411)	0
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	0	0
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	(411)	0
Total embedded derivatives
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Notional Amount - FWH and NI Modco	0	0
Derivative Assets	6,729	0
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	9,181	4,077
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	(2,452)	(4,077)
Total derivatives
Derivatives, Fair Value [Line Items]
Notional Amount	17,227	72,418
Notional Amount - FWH and NI Modco	66,813	0
Derivative Assets	9,189	8,025
Derivative Assets - FWH and NI Modco	10,034	0
Derivative Liabilities	18,412	12,502
Derivative Liabilities - FWH and NI Modco	2,204	0
Net Derivatives	(1,393)	(4,477)
Derivatives: not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Notional Amount	13,917	70,032
Notional Amount - FWH and NI Modco	66,813	0
Derivative Assets	2,381	7,926
Derivative Assets - FWH and NI Modco	10,034	0
Derivative Liabilities	8,830	8,046
Derivative Liabilities - FWH and NI Modco	2,204	0
Net Derivatives	1,381	(120)
Derivatives: not designated for hedge accounting | Currency swaps
Derivatives, Fair Value [Line Items]
Notional Amount	823	397
Notional Amount - FWH and NI Modco	0	0
Derivative Assets	0	4
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	27	13
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	(27)	(9)
Derivatives: not designated for hedge accounting | Interest swaps
Derivatives, Fair Value [Line Items]
Notional Amount	495	1,498
Notional Amount - FWH and NI Modco	2,381	0
Derivative Assets	34	0
Derivative Assets - FWH and NI Modco	83	0
Derivative Liabilities	1	166
Derivative Liabilities - FWH and NI Modco	1	0
Net Derivatives	115	(166)
Derivatives: not designated for hedge accounting | Futures
Derivatives, Fair Value [Line Items]
Notional Amount	2,055	4,320
Notional Amount - FWH and NI Modco	3,429	0
Derivative Assets	0	0
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	0	0
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	0	0
Derivatives: not designated for hedge accounting | Swaps
Derivatives, Fair Value [Line Items]
Notional Amount	1,996	11,159
Notional Amount - FWH and NI Modco	12,930	0
Derivative Assets	7	38
Derivative Assets - FWH and NI Modco	45	0
Derivative Liabilities	0	0
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	52	38
Derivatives: not designated for hedge accounting | Options
Derivatives, Fair Value [Line Items]
Notional Amount	7,445	39,863
Notional Amount - FWH and NI Modco	41,501	0
Derivative Assets	2,169	7,549
Derivative Assets - FWH and NI Modco	9,675	0
Derivative Liabilities	524	3,396
Derivative Liabilities - FWH and NI Modco	2,203	0
Net Derivatives	9,117	4,153
Derivatives: not designated for hedge accounting | Futures
Derivatives, Fair Value [Line Items]
Notional Amount	1,000	12,693
Notional Amount - FWH and NI Modco	6,572	0
Derivative Assets	0	0
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	0	0
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	0	0
Derivatives: not designated for hedge accounting | Credit default swaps
Derivatives, Fair Value [Line Items]
Notional Amount	103	102
Notional Amount - FWH and NI Modco	0	0
Derivative Assets	0	0
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	2	2
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	(2)	(2)
Derivatives: not designated for hedge accounting | Margin
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Notional Amount - FWH and NI Modco	0	0
Derivative Assets	96	193
Derivative Assets - FWH and NI Modco	231	0
Derivative Liabilities	0	0
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	327	193
Derivatives: not designated for hedge accounting | Collateral
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Notional Amount - FWH and NI Modco	0	0
Derivative Assets	75	142
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	8,276	4,469
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	(8,201)	(4,327)
Cash flow hedges: | Derivatives: designated for hedge accounting
Derivatives, Fair Value [Line Items]
Notional Amount	3,310	2,386
Notional Amount - FWH and NI Modco	0	0
Derivative Assets	79	99
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	401	379
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	(322)	(280)
Cash flow hedges: | Derivatives: designated for hedge accounting | Currency swaps
Derivatives, Fair Value [Line Items]
Notional Amount	2,358	1,431
Notional Amount - FWH and NI Modco	0	0
Derivative Assets	79	99
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	90	85
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	(11)	14
Cash flow hedges: | Derivatives: designated for hedge accounting | Interest swaps
Derivatives, Fair Value [Line Items]
Notional Amount	952	955
Notional Amount - FWH and NI Modco	0	0
Derivative Assets	0	0
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	311	294
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	$ (311)	$ (294)

DERIVATIVES - Financial Stateme

DERIVATIVES - Financial Statement Impact of Derivatives By Category (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		$ (2,417)	$ 879	$ (7,216)
Net Investment Income		3,601	3,077	3,483
Total derivatives
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		(4,341)	894	(7,202)
Net-FWH and NI modco Derivatives Gains (Losses)		1,944	0	0
Net Investment Income		71	7	0
Interest Credited To Policyholders Account Balances		(23)	(4)	(45)
AOCI		(52)	230	(82)
Investment fees	$ 18		16	15
Total embedded derivatives
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		(5,566)	2,857	(3,760)
Net-FWH and NI modco Derivatives Gains (Losses)		0	0	0
Net Investment Income		0	0	0
Interest Credited To Policyholders Account Balances		0	0	0
AOCI		0	0	0
SCS, SIO, MSO and IUL indexed features
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		(2,357)	2,857	(3,760)
Net-FWH and NI modco Derivatives Gains (Losses)		0	0	0
Net Investment Income		0	0	0
Interest Credited To Policyholders Account Balances		0	0	0
AOCI		0	0	0
Funds Withheld Payable
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		858	0	0
Net-FWH and NI modco Derivatives Gains (Losses)		0	0	0
Net Investment Income		0	0	0
Interest Credited To Policyholders Account Balances		0	0	0
AOCI		0	0	0
Modco payable
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		(4,067)	0	0
Net-FWH and NI modco Derivatives Gains (Losses)		0	0	0
Net Investment Income		0	0	0
Interest Credited To Policyholders Account Balances		0	0	0
AOCI		0	0	0
Derivatives: not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		1,247	(1,896)	(3,371)
Net-FWH and NI modco Derivatives Gains (Losses)		1,944	0	0
Net Investment Income		0	0	0
Interest Credited To Policyholders Account Balances		0	0	0
AOCI		0	0	0
Derivatives: not designated for hedge accounting | Currency swaps
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		(23)	10	3
Net-FWH and NI modco Derivatives Gains (Losses)		0	0	0
Net Investment Income		0	0	0
Interest Credited To Policyholders Account Balances		0	0	0
AOCI		0	0	0
Derivatives: not designated for hedge accounting | Interest swaps
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		(8)	(492)	(2,316)
Net-FWH and NI modco Derivatives Gains (Losses)		20	0	0
Net Investment Income		0	0	0
Interest Credited To Policyholders Account Balances		0	0	0
AOCI		0	0	0
Derivatives: not designated for hedge accounting | Futures
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		(32)	349	(607)
Net-FWH and NI modco Derivatives Gains (Losses)		(266)	0	0
Net Investment Income		0	0	0
Interest Credited To Policyholders Account Balances		0	0	0
AOCI		0	0	0
Derivatives: not designated for hedge accounting | Swaps
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		(797)	2,626	(3,608)
Net-FWH and NI modco Derivatives Gains (Losses)		(1,187)	0	0
Net Investment Income		0	0	0
Interest Credited To Policyholders Account Balances		0	0	0
AOCI		0	0	0
Derivatives: not designated for hedge accounting | Options
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		2,117	(2,752)	3,883
Net-FWH and NI modco Derivatives Gains (Losses)		3,321	0	0
Net Investment Income		0	0	0
Interest Credited To Policyholders Account Balances		0	0	0
AOCI		0	0	0
Derivatives: not designated for hedge accounting | Futures
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		(9)	(1,645)	(727)
Net-FWH and NI modco Derivatives Gains (Losses)		56	0	0
Net Investment Income		0	0	0
Interest Credited To Policyholders Account Balances		0	0	0
AOCI		0	0	0
Derivatives: not designated for hedge accounting | Swaptions
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		0	0	0
Net-FWH and NI modco Derivatives Gains (Losses)		0	0	0
Net Investment Income		0	0	0
Interest Credited To Policyholders Account Balances		0	0	0
AOCI		0	0	0
Derivatives: not designated for hedge accounting | Credit default swaps
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		(1)	8	1
Net-FWH and NI modco Derivatives Gains (Losses)		0	0	0
Net Investment Income		0	0	0
Interest Credited To Policyholders Account Balances		0	0	0
AOCI		0	0	0
Derivatives: not designated for hedge accounting | Currency forwards
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		0	0	0
Net-FWH and NI modco Derivatives Gains (Losses)		0	0	0
Net Investment Income		0	0	0
Interest Credited To Policyholders Account Balances		0	0	0
AOCI		0	0	0
Derivatives: not designated for hedge accounting | Margin
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		0	0	0
Net-FWH and NI modco Derivatives Gains (Losses)		0	0	0
Net Investment Income		0	0	0
Interest Credited To Policyholders Account Balances		0	0	0
AOCI		0	0	0
Derivatives: not designated for hedge accounting | Collateral
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		0	0	0
Net-FWH and NI modco Derivatives Gains (Losses)		0	0	0
Net Investment Income		0	0	0
Interest Credited To Policyholders Account Balances		0	0	0
AOCI		0	0	0
Cash flow hedges: | Derivatives: designated for hedge accounting
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		(22)	(67)	(71)
Net-FWH and NI modco Derivatives Gains (Losses)		0	0	0
Net Investment Income		71	7	0
Interest Credited To Policyholders Account Balances		(23)	(4)	(45)
AOCI		(52)	230	(82)
Cash flow hedges: | Derivatives: designated for hedge accounting | Currency swaps
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		(4)	19	(2)
Net-FWH and NI modco Derivatives Gains (Losses)		0	0	0
Net Investment Income		13	7	0
Interest Credited To Policyholders Account Balances		(23)	(4)	(45)
AOCI		(12)	24	5
Cash flow hedges: | Derivatives: designated for hedge accounting | Interest swaps
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		(18)	(86)	(69)
Net-FWH and NI modco Derivatives Gains (Losses)		0	0	0
Net Investment Income		58	0	0
Interest Credited To Policyholders Account Balances		0	0	0
AOCI		$ (40)	$ 206	$ (87)

DERIVATIVES - Rollforward for C

DERIVATIVES - Rollforward for Cash Flows Hedges in AOCI (Details) - Cash flow hedges recognized in AOCI - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of year	$ 22	$ (208)	$ (126)
Amount recorded in AOCI	(40)	131	(218)
Amount reclassified (to) from income to AOCI	(11)	99	136
Balance, end of period	(29)	22	(208)
Currency swaps
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Amount recorded in AOCI	(23)	29	(35)
Amount reclassified (to) from income to AOCI	11	(5)	40
Interest swaps
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Amount recorded in AOCI	(17)	102	(183)
Amount reclassified (to) from income to AOCI	$ (22)	$ 104	$ 96

DERIVATIVES - Offsetting of Fin

DERIVATIVES - Offsetting of Financial Assets and Liabilities and Derivative Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Derivative
Assets:
Gross Amount Recognized	$ 12,495	$ 8,024
Gross Amount Offset in the Balance Sheets	8,326	6,980
Net Amount Presented in the Balance Sheets	4,169	1,044
Gross Amount not Offset in the Balance Sheets	(3,076)	(848)
Net Amount	1,093	196
Liabilities:
Gross Amount Recognized	8,359	7,577
Gross Amount Offset in the Balance Sheets	8,326	6,980
Net Amount Presented in the Balance Sheets	33	597
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	33	597
Secured lending
Assets:
Gross Amount Recognized	93	0
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	93	0
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	93	0
Liabilities:
Gross Amount Recognized	93	0
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	93	0
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	93	0
Other financial assets
Assets:
Gross Amount Recognized	1,690	1,791
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	1,690	1,791
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	1,690	1,791
Other invested assets
Assets:
Gross Amount Recognized	14,278	9,815
Gross Amount Offset in the Balance Sheets	8,326	6,980
Net Amount Presented in the Balance Sheets	5,952	2,835
Gross Amount not Offset in the Balance Sheets	(3,076)	(848)
Net Amount	2,876	1,987
Other financial liabilities
Liabilities:
Gross Amount Recognized	2,370	2,081
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	2,370	2,081
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	2,370	2,081
Other liabilities
Liabilities:
Gross Amount Recognized	10,822	9,658
Gross Amount Offset in the Balance Sheets	8,326	6,980
Net Amount Presented in the Balance Sheets	2,496	2,678
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	$ 2,496	$ 2,678

CLOSED BLOCK - Summarized Finan

CLOSED BLOCK - Summarized Financial Information for Closed Block (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Closed Block Liabilities:
Future policy benefits, policyholders’ account balances and other	$ 5,461	$ 5,692
Policyholder dividend obligation	0	0
Other liabilities	57	68
Total Closed Block liabilities	5,518	5,760
Assets Designated to the Closed Block:
Fixed maturities AFS, at fair value (amortized cost of $2,945 and $3,171) (allowance for credit losses of $0 and $0)	2,800	2,948
Mortgage loans on real estate (net of allowance for credit losses of $13 and $4)	1,612	1,645
Policy loans	554	569
Cash and other invested assets	58	0
Other assets	150	187
Total assets designated to the Closed Block	5,174	5,349
Excess of Closed Block liabilities over assets designated to the Closed Block	344	411
Amounts included in AOCI:
Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $0 and $0; and net of income tax: $31 and $47	(115)	(177)
Maximum future earnings to be recognized from Closed Block assets and liabilities	229	234
Amortized cost of fixed maturities AFS	2,945	3,171
Allowance for credit losses of fixed maturities AFS	0	0
Allowance for credit losses of mortgage loans on real estate	13	4
Policy holders' dividend obligations	0	0
Income tax	$ 31	$ 47

CLOSED BLOCK - Revenues and Exp

CLOSED BLOCK - Revenues and Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Premiums and other income	$ 115	$ 125	$ 144
Net investment income (loss)	209	221	237
Investment gains (losses), net	(8)	(3)	4
Total revenues	316	343	385
Benefits and Other Deductions:
Policyholders’ benefits and dividends	309	330	375
Other operating costs and expenses	0	2	3
Total benefits and other deductions	309	332	378
Net income (loss), before income taxes	7	11	7
Income tax (expense) benefit	(2)	3	(3)
Net income (loss)	$ 5	$ 14	$ 4

DAC AND OTHER DEFERRED ASSETS_3

DAC AND OTHER DEFERRED ASSETS/LIABILITIES - Reconciliation of DAC (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2020
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	$ 4,759	$ 4,814	$ 4,098
Term | Protection Solutions
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	338	362	403
UL | Protection Solutions
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	22	20	5
VUL | Protection Solutions
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	182	112	6
GMxB Core | Individual Retirement
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	1,483	1,585	1,646
EQUI-VEST Individual | Individual Retirement
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	150	156	154
Investment Edge | Individual Retirement
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	150	147	94
SCS | Individual Retirement
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	1,282	1,266
GMxB Legacy | Legacy Segment
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	208	213	200
EQUI-VEST Group | Group Retirement
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	723	711	634
Momentum | Group Retirement
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	82	89	$ 101
Closed Block | Corporate and Others
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	117	127
Others | Corporate and Others
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	$ 22	$ 26

DAC AND OTHER DEFERRED ASSETS_4

DAC AND OTHER DEFERRED ASSETS/LIABILITIES - DAC Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	$ 4,814		$ 4,098
Balance, end of period	4,759	$ 4,814
Corporate Segment
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	4,788	4,554
Capitalization	512	705
Amortization	(499)	(471)
Recovery of acquisition cost	(64)
Balance, end of period	4,737	4,788	4,554
Corporate Segment | Term
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	362	385
Capitalization	15	18
Amortization	(39)	(41)
Recovery of acquisition cost	0
Balance, end of period	338	362	385
Corporate Segment | UL
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	20	14
Capitalization	3	7
Amortization	(1)	(1)
Recovery of acquisition cost	0
Balance, end of period	22	20	14
Corporate Segment | VUL
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	112	50
Capitalization	78	67
Amortization	(8)	(5)
Recovery of acquisition cost	0
Balance, end of period	182	112	50
Corporate Segment | GMxB Core
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	1,585	1,639
Capitalization	52	82
Amortization	(138)	(136)
Recovery of acquisition cost	(16)
Balance, end of period	1,483	1,585	1,639
Corporate Segment | EI
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	156	156
Capitalization	11	12
Amortization	(12)	(12)
Recovery of acquisition cost	(5)
Balance, end of period	150	156	156
Corporate Segment | IE
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	147	121
Capitalization	21	39
Amortization	(14)	(13)
Recovery of acquisition cost	(4)
Balance, end of period	150	147	121
Corporate Segment | SCS
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	1,266	1,070
Capitalization	223	365
Amortization	(194)	(169)
Recovery of acquisition cost	(13)
Balance, end of period	1,282	1,266	1,070
Corporate Segment | GMxB Legacy
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	213	209
Capitalization	26	27
Amortization	(24)	(23)
Recovery of acquisition cost	(7)
Balance, end of period	208	213	209
Corporate Segment | EG
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	711	678
Capitalization	73	74
Amortization	(42)	(41)
Recovery of acquisition cost	(19)
Balance, end of period	723	711	678
Corporate Segment | Momentum
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	89	94
Capitalization	10	14
Amortization	(17)	(19)
Recovery of acquisition cost	0
Balance, end of period	82	89	94
Corporate Segment | CB
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	127	138
Capitalization	0	0
Amortization	(10)	(11)
Recovery of acquisition cost	0
Balance, end of period	117	127	$ 138
Corporate Segment | Other
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Amortization	$ (4)	$ (2)

DAC AND OTHER DEFERRED ASSETS_5

DAC AND OTHER DEFERRED ASSETS/LIABILITIES - DAC Credits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
GMxB Core
Movement in Deferred Sales Inducements [Roll Forward]
Balance, beginning of year	$ 137	$ 147
Capitalization	1	2
Amortization	(12)	(12)
Balance, end of year	126	137
GMxB Legacy
Movement in Deferred Sales Inducements [Roll Forward]
Balance, beginning of year	200	222
Capitalization	0	0
Amortization	(21)	(22)
Balance, end of year	179	200
UL
Movement in Deferred Revenue [Roll Forward]
Balance, beginning of year	95	80
Capitalization	18	21
Amortization	(6)	(6)
Recovery of unearned revenue	(2)	0
Balance, end of year	105	95
VUL
Movement in Deferred Revenue [Roll Forward]
Balance, beginning of year	525	501
Capitalization	61	56
Amortization	(35)	(32)
Recovery of unearned revenue	0	0
Balance, end of year	$ 551	$ 525

FAIR VALUE DISCLOSURES - Schedu

FAIR VALUE DISCLOSURES - Schedules Of Assets And Liabilities Measured On Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2023	Apr. 01, 2023	Dec. 31, 2022
Investments:
Fixed maturities, AFS:	$ 55,165		$ 58,947
Purchased market risk benefits	16,729		10,490
Modco payable	33,400
Liabilities:
Liability for market risk benefits	14,570	$ 8,200	15,751
U.S. Treasury, government and agency
Investments:
Fixed maturities, AFS:	4,539		5,738
States and political subdivisions
Investments:
Fixed maturities, AFS:	470		471
Foreign governments
Investments:
Fixed maturities, AFS:	581		836
Residential mortgage-backed
Investments:
Fixed maturities, AFS:	1,344		777
Asset-backed
Investments:
Fixed maturities, AFS:	8,005		8,449
Commercial mortgage-backed
Investments:
Fixed maturities, AFS:	2,900		3,170
Redeemable preferred stock
Investments:
Fixed maturities, AFS:	59		43
Recurring
Investments:
Fixed maturities, AFS:	55,165		58,947
Other equity investments	649		627
Trading securities	257		283
Other invested assets:	9,352		4,225
Cash equivalents	2,533		655
Purchased market risk benefits	16,729		10,490
Assets for market risk benefits	574		478
Separate Accounts assets	120,970		110,808
Modco payable	(411)		0
Total Assets	212,958		186,513
Liabilities:
Liability for market risk benefits	14,570		15,751
Funds withheld payable	100
Total Liabilities	23,751		19,828
Recurring | Corporate
Investments:
Fixed maturities, AFS:	37,267		39,463
Recurring | U.S. Treasury, government and agency
Investments:
Fixed maturities, AFS:	4,539		5,738
Recurring | States and political subdivisions
Investments:
Fixed maturities, AFS:	470		471
Recurring | Foreign governments
Investments:
Fixed maturities, AFS:	581		836
Recurring | Residential mortgage-backed
Investments:
Fixed maturities, AFS:	1,344		777
Recurring | Asset-backed
Investments:
Fixed maturities, AFS:	8,005		8,449
Recurring | Commercial mortgage-backed
Investments:
Fixed maturities, AFS:	2,900		3,170
Recurring | Redeemable preferred stock
Investments:
Fixed maturities, AFS:	59		43
Recurring | Short-term investments
Investments:
Other invested assets:	414		485
Recurring | Assets of consolidated VIEs/VOEs
Investments:
Other invested assets:	3		5
Recurring | Swaps
Investments:
Other invested assets:	(180)		(416)
Recurring | Credit default swaps
Investments:
Other invested assets:	(2)		(2)
Recurring | Options
Investments:
Other invested assets:	9,117		4,153
Recurring | SCS, SIO, MSO and IUL indexed features’ asset
Investments:
SCS, SIO, MSO and IUL indexed features’ asset	7,140
Recurring | SCS, SIO, MSO and IUL indexed features’ liability
Liabilities:
SCS, SIO, MSO and IUL indexed features' liability	9,081		4,077
Recurring | Level 1
Investments:
Fixed maturities, AFS:	0		0
Other equity investments	150		137
Trading securities	207		160
Other invested assets:	0		0
Cash equivalents	1,917		397
Purchased market risk benefits	0		0
Assets for market risk benefits	0		0
Separate Accounts assets	118,353		108,378
Modco payable	0		0
Total Assets	120,627		109,072
Liabilities:
Liability for market risk benefits	0		0
Funds withheld payable	0		0
Total Liabilities	0		0
Recurring | Level 1 | Corporate
Investments:
Fixed maturities, AFS:	0		0
Recurring | Level 1 | U.S. Treasury, government and agency
Investments:
Fixed maturities, AFS:	0		0
Recurring | Level 1 | States and political subdivisions
Investments:
Fixed maturities, AFS:	0		0
Recurring | Level 1 | Foreign governments
Investments:
Fixed maturities, AFS:	0		0
Recurring | Level 1 | Residential mortgage-backed
Investments:
Fixed maturities, AFS:	0		0
Recurring | Level 1 | Asset-backed
Investments:
Fixed maturities, AFS:	0		0
Recurring | Level 1 | Commercial mortgage-backed
Investments:
Fixed maturities, AFS:	0		0
Recurring | Level 1 | Redeemable preferred stock
Investments:
Fixed maturities, AFS:	0		0
Recurring | Level 1 | Short-term investments
Investments:
Other invested assets:	0		0
Recurring | Level 1 | Assets of consolidated VIEs/VOEs
Investments:
Other invested assets:	0		0
Recurring | Level 1 | Swaps
Investments:
Other invested assets:	0		0
Recurring | Level 1 | Credit default swaps
Investments:
Other invested assets:	0		0
Recurring | Level 1 | Options
Investments:
Other invested assets:	0		0
Recurring | Level 1 | SCS, SIO, MSO and IUL indexed features’ asset
Investments:
SCS, SIO, MSO and IUL indexed features’ asset	0
Recurring | Level 1 | SCS, SIO, MSO and IUL indexed features’ liability
Liabilities:
SCS, SIO, MSO and IUL indexed features' liability	0		0
Recurring | Level 2
Investments:
Fixed maturities, AFS:	53,038		56,783
Other equity investments	445		478
Trading securities	50		123
Other invested assets:	9,349		4,220
Cash equivalents	616		258
Purchased market risk benefits	0		0
Assets for market risk benefits	0		0
Separate Accounts assets	2,617		2,429
Modco payable	0		0
Total Assets	73,255		64,291
Liabilities:
Liability for market risk benefits	0		0
Funds withheld payable	0		0
Total Liabilities	9,081		4,077
Recurring | Level 2 | Corporate
Investments:
Fixed maturities, AFS:	35,197		37,360
Recurring | Level 2 | U.S. Treasury, government and agency
Investments:
Fixed maturities, AFS:	4,539		5,738
Recurring | Level 2 | States and political subdivisions
Investments:
Fixed maturities, AFS:	443		442
Recurring | Level 2 | Foreign governments
Investments:
Fixed maturities, AFS:	581		836
Recurring | Level 2 | Residential mortgage-backed
Investments:
Fixed maturities, AFS:	1,344		777
Recurring | Level 2 | Asset-backed
Investments:
Fixed maturities, AFS:	7,981		8,449
Recurring | Level 2 | Commercial mortgage-backed
Investments:
Fixed maturities, AFS:	2,894		3,138
Recurring | Level 2 | Redeemable preferred stock
Investments:
Fixed maturities, AFS:	59		43
Recurring | Level 2 | Short-term investments
Investments:
Other invested assets:	414		485
Recurring | Level 2 | Assets of consolidated VIEs/VOEs
Investments:
Other invested assets:	0		0
Recurring | Level 2 | Swaps
Investments:
Other invested assets:	(180)		(416)
Recurring | Level 2 | Credit default swaps
Investments:
Other invested assets:	(2)		(2)
Recurring | Level 2 | Options
Investments:
Other invested assets:	9,117		4,153
Recurring | Level 2 | SCS, SIO, MSO and IUL indexed features’ asset
Investments:
SCS, SIO, MSO and IUL indexed features’ asset	7,140
Recurring | Level 2 | SCS, SIO, MSO and IUL indexed features’ liability
Liabilities:
SCS, SIO, MSO and IUL indexed features' liability	9,081		4,077
Recurring | Level 3
Investments:
Fixed maturities, AFS:	2,127		2,164
Other equity investments	54		12
Trading securities	0		0
Other invested assets:	3		5
Cash equivalents	0		0
Purchased market risk benefits	16,729		10,490
Assets for market risk benefits	574		478
Separate Accounts assets	0		1
Modco payable	(411)		0
Total Assets	19,076		13,150
Liabilities:
Liability for market risk benefits	14,570		15,751
Funds withheld payable	100		0
Total Liabilities	14,670		15,751
Recurring | Level 3 | Corporate
Investments:
Fixed maturities, AFS:	2,070		2,103
Recurring | Level 3 | U.S. Treasury, government and agency
Investments:
Fixed maturities, AFS:	0		0
Recurring | Level 3 | States and political subdivisions
Investments:
Fixed maturities, AFS:	27		29
Recurring | Level 3 | Foreign governments
Investments:
Fixed maturities, AFS:	0		0
Recurring | Level 3 | Residential mortgage-backed
Investments:
Fixed maturities, AFS:	0		0
Recurring | Level 3 | Asset-backed
Investments:
Fixed maturities, AFS:	24		0
Recurring | Level 3 | Commercial mortgage-backed
Investments:
Fixed maturities, AFS:	6		32
Recurring | Level 3 | Redeemable preferred stock
Investments:
Fixed maturities, AFS:	0		0
Recurring | Level 3 | Short-term investments
Investments:
Other invested assets:	0		0
Recurring | Level 3 | Assets of consolidated VIEs/VOEs
Investments:
Other invested assets:	3		5
Recurring | Level 3 | Swaps
Investments:
Other invested assets:	0		0
Recurring | Level 3 | Credit default swaps
Investments:
Other invested assets:	0		0
Recurring | Level 3 | Options
Investments:
Other invested assets:	0		0
Recurring | Level 3 | SCS, SIO, MSO and IUL indexed features’ asset
Investments:
SCS, SIO, MSO and IUL indexed features’ asset	0
Recurring | Level 3 | SCS, SIO, MSO and IUL indexed features’ liability
Liabilities:
SCS, SIO, MSO and IUL indexed features' liability	0		0
Recurring | NAV
Investments:
Separate Accounts assets	$ 371		$ 456

FAIR VALUE DISCLOSURES - Narrat

FAIR VALUE DISCLOSURES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value Inputs, Assets Quantitative Information [Line Items]
Change in purchased market risk benefit asset fair value	$ 1,300	$ 1,100
AFS fixed maturities transferred from Level 3 to Level 2	352	121
AFS fixed maturities transferred from Level 2 to Level 3	$ 11	$ 168
Percentage of total equity representing AFS fixed maturities transferred	22.10%	26.90%
Nonrecurring | Level 3
Fair Value Inputs, Assets Quantitative Information [Line Items]
Investments, fair value	$ 873	$ 736

FAIR VALUE DISCLOSURES - Fair V

FAIR VALUE DISCLOSURES - Fair Value Measurement Reconciliation For All Levels (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Total gains and (losses), realized and unrealized, included in:
Transfers into Level 3	$ 11	$ 168
Transfers out of Level 3	(352)	(121)
Level 3 | Corporate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	2,103	1,493	$ 1,687
Total gains and (losses), realized and unrealized, included in:
Investment gains (losses), reported in net investment income	6	5	5
Investment gains (losses), net	(17)	(5)	(16)
Subtotal	(11)	0	(11)
Other comprehensive income (loss)	50	(157)	34
Purchases	514	1,093	937
Sales	(272)	(379)	(468)
Activity related to consolidated VIEs/VOEs	0	0	0
Transfers into Level 3	11	168	27
Transfers out of Level 3	(325)	(115)	(713)
Closing Balance	2,070	2,103	1,493
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	4	(154)	28
Level 3 | States and political subdivisions
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	29	35	39
Total gains and (losses), realized and unrealized, included in:
Investment gains (losses), reported in net investment income	0	0	0
Investment gains (losses), net	0	0	0
Subtotal	0	0	0
Other comprehensive income (loss)	0	(5)	(2)
Purchases	0	0	0
Sales	(2)	(1)	(2)
Activity related to consolidated VIEs/VOEs	0	0	0
Transfers into Level 3	0	0	0
Transfers out of Level 3	0	0	0
Closing Balance	27	29	35
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	0	(5)	(2)
Level 3 | Asset-backed
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	0	8	20
Total gains and (losses), realized and unrealized, included in:
Investment gains (losses), reported in net investment income	0	0	0
Investment gains (losses), net	0	0	0
Subtotal	0	0	0
Other comprehensive income (loss)	0	0	0
Purchases	24	0	6
Sales	0	(2)	(18)
Activity related to consolidated VIEs/VOEs	0	0	0
Transfers into Level 3	0	0	0
Transfers out of Level 3	0	(6)	0
Closing Balance	24	0	8
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	0	0	0
Level 3 | CMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	32	20	0
Total gains and (losses), realized and unrealized, included in:
Investment gains (losses), reported in net investment income	0	0	0
Investment gains (losses), net	0	0	0
Subtotal	0	0	0
Other comprehensive income (loss)	(1)	(2)	0
Purchases	2	14	20
Sales	0	0	0
Activity related to consolidated VIEs/VOEs	0	0	0
Transfers into Level 3	0	0	0
Transfers out of Level 3	(27)	0	0
Closing Balance	6	32	20
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	(1)	(2)	0
Level 3 | Other equity investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	17	13	15
Total gains and (losses), realized and unrealized, included in:
Investment gains (losses), reported in net investment income	(2)	(1)	2
Investment gains (losses), net	0	0	0
Subtotal	(2)	(1)	2
Other comprehensive income (loss)	0	0	0
Purchases	43	8	1
Sales	0	0	(1)
Change in fair value of funds withheld assets	0
Other	0	0	0
Activity related to consolidated VIEs/VOEs	(1)	(3)	(4)
Transfers into Level 3	0	0	0
Transfers out of Level 3	0	0	0
Closing Balance	57	17	13
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	(2)	(1)	2
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	0	0	0
Level 3 | Separate Accounts Assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	1	1	1
Total gains and (losses), realized and unrealized, included in:
Investment gains (losses), reported in net investment income	0	0	0
Investment gains (losses), net	0	0	0
Subtotal	0	0	0
Other comprehensive income (loss)	0	0	0
Purchases	0	0	1
Sales	0	0	0
Change in fair value of funds withheld assets	0
Other	0	0	0
Activity related to consolidated VIEs/VOEs	0	0	0
Transfers into Level 3	0	0	0
Transfers out of Level 3	(1)	0	(1)
Closing Balance	0	1	1
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	0	0	0
Level 3 | Funds Withheld Payable
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	0	0	0
Total gains and (losses), realized and unrealized, included in:
Investment gains (losses), reported in net investment income	0	0	0
Investment gains (losses), net	0	0	0
Subtotal	0	0	0
Other comprehensive income (loss)	0	0	0
Purchases	0	0	0
Sales	0	0	0
Change in fair value of funds withheld assets	100
Other	0	0	0
Activity related to consolidated VIEs/VOEs	0	0	0
Transfers into Level 3	0	0	0
Transfers out of Level 3	0	0	0
Closing Balance	100	0	0
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	0	0	0
Level 3 | Modco payable
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	0	0	0
Total gains and (losses), realized and unrealized, included in:
Investment gains (losses), reported in net investment income	0	0	0
Investment gains (losses), net	0	0	0
Subtotal	0	0	0
Other comprehensive income (loss)	0	0	0
Purchases	0	0	0
Sales	0	0	0
Change in fair value of funds withheld assets	(411)
Other	0	0	0
Activity related to consolidated VIEs/VOEs	0	0	0
Transfers into Level 3	0	0	0
Transfers out of Level 3	0	0	0
Closing Balance	(411)	0	0
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	$ 0	$ 0	$ 0

FAIR VALUE DISCLOSURES - Quanti

FAIR VALUE DISCLOSURES - Quantitative Information About Level 3 (Details) $ in Millions	Dec. 31, 2023 USD ($)	Apr. 01, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability for market risk benefits	$ 14,570	$ 8,200	$ 15,751
Assets for market risk benefits	574		478
Level 3 | Corporate | Matrix pricing model
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of fixed maturities AFS	$ 330		$ 413
Level 3 | Corporate | Matrix pricing model | Spread over benchmark | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.0020		0.0020
Level 3 | Corporate | Matrix pricing model | Spread over benchmark | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.0747		0.0797
Level 3 | Corporate | Matrix pricing model | Spread over benchmark | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.0187		0.0204
Level 3 | Corporate | Market  comparable  companies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of fixed maturities AFS	$ 979		$ 1,029
Level 3 | Corporate | Market  comparable  companies | EBITDA Multiple | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	3.3		5.3
Level 3 | Corporate | Market  comparable  companies | EBITDA Multiple | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	29		35.8
Level 3 | Corporate | Market  comparable  companies | EBITDA Multiple | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	13.6		13.6
Level 3 | Corporate | Market  comparable  companies | Discount Rate | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0		0.090
Level 3 | Corporate | Market  comparable  companies | Discount Rate | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.228		0.457
Level 3 | Corporate | Market  comparable  companies | Discount Rate | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.039		0.119
Level 3 | Corporate | Market  comparable  companies | Cash Flow Multiples | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.8		0
Level 3 | Corporate | Market  comparable  companies | Cash Flow Multiples | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	10		10.3
Level 3 | Corporate | Market  comparable  companies | Cash Flow Multiples | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	6.3		6.1
Level 3 | Corporate | Market  comparable  companies | Loan to Value | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.034		0
Level 3 | Corporate | Market  comparable  companies | Loan to Value | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.610		0.404
Level 3 | Corporate | Market  comparable  companies | Loan to Value | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.138		0.120
Level 3 | Other equity investments | Market  comparable  companies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of fixed maturities AFS			$ 4
Level 3 | Other equity investments | Market  comparable  companies | Earnings multiple | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS			0.5
Level 3 | Other equity investments | Market  comparable  companies | Earnings multiple | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS			10.8
Level 3 | Other equity investments | Market  comparable  companies | Earnings multiple | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS			2.4
Level 3 | Other equity investments | Discounted Cash Flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of fixed maturities AFS	$ 2
Level 3 | Other equity investments | Discounted Cash Flow | Earnings multiple | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	6.5
Level 3 | Other equity investments | Discounted Cash Flow | Earnings multiple | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	6.2
Level 3 | Other equity investments | Discounted Cash Flow | Earnings multiple | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	6
Level 3 | Purchased MRB asset | Discounted Cash Flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of fixed maturities AFS	$ 16,729		$ 10,490
Level 3 | Purchased MRB asset | Discounted Cash Flow | Lapse Rate | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.0021		0.0026
Level 3 | Purchased MRB asset | Discounted Cash Flow | Lapse Rate | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.2937		0.2623
Level 3 | Purchased MRB asset | Discounted Cash Flow | Lapse Rate | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.0275		0.0158
Level 3 | Purchased MRB asset | Discounted Cash Flow | Withdrawal Rate | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0		0.0006
Level 3 | Purchased MRB asset | Discounted Cash Flow | Withdrawal Rate | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.1497		0.1093
Level 3 | Purchased MRB asset | Discounted Cash Flow | Withdrawal Rate | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.0055		0.0069
Level 3 | Purchased MRB asset | Discounted Cash Flow | GMIB Utilization Rate | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.0004		0.0004
Level 3 | Purchased MRB asset | Discounted Cash Flow | GMIB Utilization Rate | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.010000		0.6666
Level 3 | Purchased MRB asset | Discounted Cash Flow | GMIB Utilization Rate | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.0551		0.0739
Level 3 | Purchased MRB asset | Discounted Cash Flow | Non-performance Risk | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.0023		0.0054
Level 3 | Purchased MRB asset | Discounted Cash Flow | Non-performance Risk | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.0097		0.0124
Level 3 | Purchased MRB asset | Discounted Cash Flow | Non-performance Risk | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.0035		0.0069
Level 3 | Purchased MRB asset | Discounted Cash Flow | Volatility rates - Equity | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.11		0.14
Level 3 | Purchased MRB asset | Discounted Cash Flow | Volatility rates - Equity | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.28		0.32
Level 3 | Purchased MRB asset | Discounted Cash Flow | Volatility rates - Equity | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.23		0.24
Level 3 | Purchased MRB asset | Discounted Cash Flow | Mortality Rates | Age 0-40 | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.0001		0.0001
Level 3 | Purchased MRB asset | Discounted Cash Flow | Mortality Rates | Age 0-40 | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.0018		0.0017
Level 3 | Purchased MRB asset | Discounted Cash Flow | Mortality Rates | Age 0-40 | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.0287		0.0287
Level 3 | Purchased MRB asset | Discounted Cash Flow | Mortality Rates | Age 41-60 | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.0007		0.0006
Level 3 | Purchased MRB asset | Discounted Cash Flow | Mortality Rates | Age 41-60 | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.0053		0.0052
Level 3 | Purchased MRB asset | Discounted Cash Flow | Mortality Rates | Ages 61 - 115 | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.0033		0.0032
Level 3 | Purchased MRB asset | Discounted Cash Flow | Mortality Rates | Ages 61 - 115 | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of fixed maturities AFS	0.4200		0.4000
Level 3 | Direct MRB | Discounted Cash Flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Direct MRB	$ 13,996		$ 15,273
Level 3 | Direct MRB | Discounted Cash Flow | Lapse Rate | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of direct MRB	0.0021		0.0026
Level 3 | Direct MRB | Discounted Cash Flow | Lapse Rate | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of direct MRB	0.2937		0.3542
Level 3 | Direct MRB | Discounted Cash Flow | Lapse Rate | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of direct MRB	0.0303		0.0297
Level 3 | Direct MRB | Discounted Cash Flow | Withdrawal Rate | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of direct MRB	0		0
Level 3 | Direct MRB | Discounted Cash Flow | Withdrawal Rate | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of direct MRB	0.1497		0.1093
Level 3 | Direct MRB | Discounted Cash Flow | Withdrawal Rate | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of direct MRB	0.0064		0.0068
Level 3 | Direct MRB | Discounted Cash Flow | Non-performance Risk
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of direct MRB	0.0118		0.0157
Level 3 | Direct MRB | Discounted Cash Flow | Non-performance Risk | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of direct MRB	0.0118		0.0157
Level 3 | Direct MRB | Discounted Cash Flow | Mortality Rates | Age 0-40 | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of direct MRB	0.0001		0.0001
Level 3 | Direct MRB | Discounted Cash Flow | Mortality Rates | Age 0-40 | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of direct MRB	0.0018		0.0017
Level 3 | Direct MRB | Discounted Cash Flow | Mortality Rates | Age 0-40 | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of direct MRB	0.0263		0.0241
Level 3 | Direct MRB | Discounted Cash Flow | Mortality Rates | Age 41-60 | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of direct MRB	0.0007		0.0006
Level 3 | Direct MRB | Discounted Cash Flow | Mortality Rates | Age 41-60 | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of direct MRB	0.0053		0.0052
Level 3 | Direct MRB | Discounted Cash Flow | Mortality Rates | Ages 61 - 115 | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of direct MRB	0.0033		0.0032
Level 3 | Direct MRB | Discounted Cash Flow | Mortality Rates | Ages 61 - 115 | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of direct MRB	0.4200		0.4000
Level 3 | Direct MRB | Discounted Cash Flow | Annuitization Rate | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of direct MRB	0.0004		0.0004
Level 3 | Direct MRB | Discounted Cash Flow | Annuitization Rate | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of direct MRB	1		1
Level 3 | Direct MRB | Discounted Cash Flow | Annuitization Rate | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of direct MRB	0.0544		0.0550

FAIR VALUE DISCLOSURES - Carryi

FAIR VALUE DISCLOSURES - Carrying Values And Fair Values Of Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Apr. 01, 2023	Dec. 31, 2022
Consolidated Amounts [Abstract]
Mortgage loans on real estate	$ 17,877		$ 16,464
Policy loans	3,667		3,563
Policyholders’ liabilities: Investment contracts	82,990		79,742
Funds withheld payable	10,603	$ 11,200	0
Modco payable	33,400
Separate Accounts liabilities	121,497		111,479
Carrying Value
Consolidated Amounts [Abstract]
Mortgage loans on real estate	17,877		16,464
Policy loans	3,667		3,563
Policyholders’ liabilities: Investment contracts	1,554		1,801
Funds withheld payable	10,503		0
Modco payable	29,912		0
FHLB funding agreements	7,618		8,505
FABN funding agreements	6,267		7,095
Funding agreement-backed commercial paper (FABCP)	939
Separate Accounts liabilities	10,343		10,236
Carrying Value | Affiliated Entity
Consolidated Amounts [Abstract]
Loans to affiliates	1,900		1,900
Fair Value
Consolidated Amounts [Abstract]
Mortgage loans on real estate	16,174		14,675
Policy loans	3,961		3,850
Policyholders’ liabilities: Investment contracts	1,526		1,645
Funds withheld payable	10,503		0
Modco payable	29,912		0
FHLB funding agreements	7,567		8,390
FABN funding agreements	5,840		6,384
Funding agreement-backed commercial paper (FABCP)	948
Separate Accounts liabilities	10,343		10,236
Fair Value | Affiliated Entity
Consolidated Amounts [Abstract]
Loans to affiliates	1,790		1,755
Fair Value | Level 1
Consolidated Amounts [Abstract]
Mortgage loans on real estate	0		0
Policy loans	0		0
Policyholders’ liabilities: Investment contracts	0		0
Funds withheld payable	0		0
Modco payable	0		0
FHLB funding agreements	0		0
FABN funding agreements	0		0
Funding agreement-backed commercial paper (FABCP)	0
Separate Accounts liabilities	0		0
Fair Value | Level 1 | Affiliated Entity
Consolidated Amounts [Abstract]
Loans to affiliates	0		0
Fair Value | Level 2
Consolidated Amounts [Abstract]
Mortgage loans on real estate	0		0
Policy loans	0		0
Policyholders’ liabilities: Investment contracts	0		0
Funds withheld payable	0		0
Modco payable	0		0
FHLB funding agreements	7,567		8,390
FABN funding agreements	5,840		6,384
Funding agreement-backed commercial paper (FABCP)	948
Separate Accounts liabilities	0		0
Fair Value | Level 2 | Affiliated Entity
Consolidated Amounts [Abstract]
Loans to affiliates	1,790		1,755
Fair Value | Level 3
Consolidated Amounts [Abstract]
Mortgage loans on real estate	16,174		14,675
Policy loans	3,961		3,850
Policyholders’ liabilities: Investment contracts	1,526		1,645
Funds withheld payable	10,503		0
Modco payable	29,912		0
FHLB funding agreements	0		0
FABN funding agreements	0		0
Funding agreement-backed commercial paper (FABCP)	0
Separate Accounts liabilities	10,343		10,236
Fair Value | Level 3 | Affiliated Entity
Consolidated Amounts [Abstract]
Loans to affiliates	$ 0		$ 0

LIABILITIES FOR FUTURE POLICY_3

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Policyholder Account Balance And Liability For Unpaid Claims And Claims Adjustment Expense (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	$ 16,573	$ 15,935
All Future Policyholder Benefits
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	15,140	14,373
Subtotal - Products
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	9,020	8,078
Term
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	1,341	1,359
Payout - Non-Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	844	828
Payout - Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	3,620	2,689
Group Pension - Benefit Reserve & DPL
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	490	523
Health
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	1,505	1,560
UL
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	1,220	1,119
Whole Life Closed Block and Open Block products
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	5,463	5,687
Other
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	657	608
Other policyholder funds and dividends payable
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	$ 1,433	$ 1,562

LIABILITIES FOR FUTURE POLICY_4

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Policyholder Account Balance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for future policy benefits	$ 16,573	$ 15,935
Less: Reinsurance recoverable				$ (2,209)
Net liability for future policy benefits, after reinsurance recoverable				6,252
Term
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for future policy benefits	1,341	1,359
Term | Protection Solutions
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Less: Reinsurance recoverable				(372)
Net liability for future policy benefits, after reinsurance recoverable				$ 1,602
Payout - Non-Legacy
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for future policy benefits	844	828
Payout - Legacy
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for future policy benefits	3,620	2,689
Group Pension
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for future policy benefits	490	523
Health
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for future policy benefits	1,505	1,560
Operating Segments | Term | Protection Solutions
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of year	2,090	2,472
Beginning balance at original discount rate	2,069	1,854
Effect of changes in cash flow assumptions		47	$ 204
Effect of actual variances from expected experience		(36)	30
Adjusted beginning of period balance		2,080	2,088
Issuances	64	76
Interest accrual	100	97
Net premiums collected	(194)	(192)
Ending Balance at original discount rate	2,051	2,069
Effect of changes in discount rate assumptions	74	21
Balance, end of year	2,125	2,090
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	3,449	4,274
Beginning balance of original discount rate	3,376	3,225
Effect of changes in cash flow assumptions	59	221
Effect of actual variances from expected	(43)	30
Adjusted beginning of period balance	3,392	3,476
Issuances	70	83
Interest accrual	166	166
Benefit payments	(311)	(349)
Ending balance at original discount rate	3,317	3,376
Effect of changes in discount rate assumptions	149	73
Balance, end of year	3,466	3,449
Net liability for future policy benefits	1,341	1,359
Less: Reinsurance recoverable	(210)	(209)
Net liability for future policy benefits, after reinsurance recoverable	$ 1,131	$ 1,150
Weighted-average duration of liability for future policyholder benefits (years)	7 years	7 years
Operating Segments | Payout - Non-Legacy | Non-Legacy
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of year	$ 0	$ 0
Beginning balance at original discount rate	0	0
Effect of changes in cash flow assumptions		0	0
Effect of actual variances from expected experience		0	0
Adjusted beginning of period balance		0	0
Issuances	0	0
Interest accrual	0	0
Net premiums collected	0	0
Ending Balance at original discount rate	0	0
Effect of changes in discount rate assumptions	0	0
Balance, end of year	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	828	1,114
Beginning balance of original discount rate	845	883
Effect of changes in cash flow assumptions	0	(2)
Effect of actual variances from expected	0	(1)
Adjusted beginning of period balance	845	880
Issuances	47	23
Interest accrual	39	40
Benefit payments	(91)	(98)
Ending balance at original discount rate	840	845
Effect of changes in discount rate assumptions	4	(17)
Balance, end of year	844	828
Net liability for future policy benefits	844	828
Less: Reinsurance recoverable	(29)	0
Net liability for future policy benefits, after reinsurance recoverable	$ 815	$ 828
Weighted-average duration of liability for future policyholder benefits (years)	9 years 3 months 18 days	9 years 6 months
Operating Segments | Payout - Legacy | Legacy
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of year	$ 0	$ 0
Beginning balance at original discount rate	0	0
Effect of changes in cash flow assumptions		0	0
Effect of actual variances from expected experience		0	0
Adjusted beginning of period balance		0	0
Issuances	0	0
Interest accrual	0	0
Net premiums collected	0	0
Ending Balance at original discount rate	0	0
Effect of changes in discount rate assumptions	0	0
Balance, end of year	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	2,689	2,547
Beginning balance of original discount rate	3,024	2,400
Effect of changes in cash flow assumptions	0	(2)
Effect of actual variances from expected	(3)	(3)
Adjusted beginning of period balance	3,021	2,395
Issuances	996	758
Interest accrual	88	63
Benefit payments	(265)	(192)
Ending balance at original discount rate	3,840	3,024
Effect of changes in discount rate assumptions	(220)	(335)
Balance, end of year	3,620	2,689
Net liability for future policy benefits	3,620	2,689
Less: Reinsurance recoverable	(1,309)	(466)
Net liability for future policy benefits, after reinsurance recoverable	$ 2,311	$ 2,223
Weighted-average duration of liability for future policyholder benefits (years)	7 years 8 months 12 days	8 years 1 month 6 days
Corporate and Other | Group Pension
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of year	$ 0	$ 0
Beginning balance at original discount rate	0	0
Effect of changes in cash flow assumptions		0	0
Effect of actual variances from expected experience		0	0
Adjusted beginning of period balance		0	0
Issuances	0	0
Interest accrual	0	0
Net premiums collected	0	0
Ending Balance at original discount rate	0	0
Effect of changes in discount rate assumptions	0	0
Balance, end of year	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	523	683
Beginning balance of original discount rate	583	632
Effect of changes in cash flow assumptions	0	0
Effect of actual variances from expected	0	1
Adjusted beginning of period balance	583	633
Issuances	0	0
Interest accrual	19	21
Benefit payments	(66)	(71)
Ending balance at original discount rate	536	583
Effect of changes in discount rate assumptions	(46)	(60)
Balance, end of year	490	523
Net liability for future policy benefits	490	523
Less: Reinsurance recoverable	0	1
Net liability for future policy benefits, after reinsurance recoverable	$ 490	$ 524
Weighted-average duration of liability for future policyholder benefits (years)	7 years 1 month 6 days	7 years 2 months 12 days
Corporate and Other | Health
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of year	$ (6)	$ 22
Beginning balance at original discount rate	(6)	19
Effect of changes in cash flow assumptions		(6)	(10)
Effect of actual variances from expected experience		(12)	(16)
Adjusted beginning of period balance		(24)	$ (7)
Issuances	0	0
Interest accrual	(1)	0
Net premiums collected	3	1
Ending Balance at original discount rate	(22)	(6)
Effect of changes in discount rate assumptions	1	0
Balance, end of year	(21)	(6)
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	1,554	2,092
Beginning balance of original discount rate	1,795	1,915
Effect of changes in cash flow assumptions	(6)	(5)
Effect of actual variances from expected	(22)	(13)
Adjusted beginning of period balance	1,767	1,897
Issuances	0	0
Interest accrual	57	61
Benefit payments	(152)	(163)
Ending balance at original discount rate	1,672	1,795
Effect of changes in discount rate assumptions	(188)	(241)
Balance, end of year	1,484	1,554
Net liability for future policy benefits	1,505	1,560
Less: Reinsurance recoverable	(1,191)	(1,242)
Net liability for future policy benefits, after reinsurance recoverable	$ 314	$ 318
Weighted-average duration of liability for future policyholder benefits (years)	8 years 8 months 12 days	8 years 8 months 12 days

LIABILITIES FOR FUTURE POLICY_5

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Schedule of Liability for Future Policy Benefits, Undiscounted and Discounted Expected Gross Premiums and Expected Future Benefits and Expenses (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Term
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefit payments and expenses (undiscounted)	$ 5,860	$ 6,002
Expected future gross premiums (undiscounted)	6,956	7,245
Expected future benefit payments and expenses (discounted)	3,466	3,449
Expected future gross premiums (discounted)	3,862	3,883
Payout - Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefit payments and expenses (undiscounted)	5,204	3,947
Expected future gross premiums (undiscounted)	0	0
Expected future benefit payments and expenses (discounted)	3,538	2,607
Expected future gross premiums (discounted)	0	0
Payout - Non-Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefit payments and expenses (undiscounted)	812	801
Expected future gross premiums (undiscounted)	0	0
Expected future benefit payments and expenses (discounted)	1,426	1,460
Expected future gross premiums (discounted)	0	0
Group Pension
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefit payments and expenses (undiscounted)	668	730
Expected future gross premiums (undiscounted)	0	0
Expected future benefit payments and expenses (discounted)	471	563
Expected future gross premiums (discounted)	0	0
Health
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefit payments and expenses (undiscounted)	2,318	2,510
Expected future gross premiums (undiscounted)	85	99
Expected future benefit payments and expenses (discounted)	1,468	1,533
Expected future gross premiums (discounted)	$ 68	$ 78

LIABILITIES FOR FUTURE POLICY_6

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Schedule of Liability for Future Policy Benefits, Revenue and Interest Accretion (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	$ 630	$ 360	$ 374
Interest Accretion	293	255	262
Term
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	349	229	239
Interest Accretion	67	70	75
Payout - Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	220	101	106
Interest Accretion	109	63	60
Payout - Non-Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	46	21	19
Interest Accretion	39	40	40
Group Pension
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	0	0	0
Interest Accretion	20	21	23
Health
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	15	9	10
Interest Accretion	$ 58	$ 61	$ 64

LIABILITIES FOR FUTURE POLICY_7

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Schedule of Liability for Future Policy Benefits, Weighted Average Interest Rates (Details)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	4.50%	4.50%	4.50%
Term
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	5.60%	5.70%
Current discount rate	4.80%	5.10%
Payout - Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	4%	3.40%
Current discount rate	4.90%	5%
Payout - Non-Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	4.90%	5.20%
Current discount rate	5%	4.90%
Group Pension
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	3.30%	3.40%
Current discount rate	4.80%	5.10%
Health
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	4.90%	5.20%
Current discount rate	3.40%	3.30%

LIABILITIES FOR FUTURE POLICY_8

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS -Schedule of Balances of and Changes in Additional Liabilities Related to Insurance Guarantees (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period			$ 8,461
Net liability for future policy benefits	$ 16,573	$ 15,935
Less: Reinsurance recoverable				$ (2,209)
Net liability for future policy benefits, after reinsurance recoverable				$ 6,252
Weighted Average Interest Rate	4.50%	4.50%	4.50%
Assessments
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Revenue and Interest Accretion	$ 670	$ 666	$ 850
Interest Accretion
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Revenue and Interest Accretion	51	49	$ 45
UL
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for future policy benefits	$ 1,220	$ 1,119
Weighted Average Interest Rate	4.50%	4.50%	4.50%
UL | Assessments
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Revenue and Interest Accretion	$ 670	$ 666	$ 850
UL | Interest Accretion
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Revenue and Interest Accretion	51	49	45
Protection Solutions | UL
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	1,120	1,082
Beginning balance before AOCI adjustments	1,135	1,076
Effect of changes in interest rate and cash flow assumptions and model changes		21	8
Effect of actual variances from expected		10	25
Adjusted beginning of period balance		1,166	1,109
Interest accrual	52	49
Net assessments collected	69	68
Benefit payments	(57)	(91)
Ending balance before shadow reserve adjustments	1,230	1,135	1,076
Effect of reserve adjustment recorded in AOCI	(10)	(15)
Balance, end of year	1,220	1,120	$ 1,082
Net liability for future policy benefits	1,220	1,120
Less: Reinsurance recoverable	(946)	(562)
Net liability for future policy benefits, after reinsurance recoverable	$ 274	$ 558
Weighted-average duration of liability for future policyholder benefits (years)	19 years 10 months 24 days	22 years

MARKET RISK BENEFITS - Changes

MARKET RISK BENEFITS - Changes in the Market Risk Benefits for Deferred Variable Annuities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Apr. 01, 2023	Dec. 31, 2020
Market Risk Benefit [Roll Forward]
Benefit payments	$ 206	$ 601	$ 564
Changes in the instrument-specific credit risk					$ 23,416
Liability for market risk benefits	14,570	15,751		$ 8,200
GMxB Core | Individual Retirement
Market Risk Benefit [Roll Forward]
Balance, beginning of year	539	1,061	2,143
Beginning balance before changes in the instrument specific credit risk	538	666	1,639
Model changes and effect of changes in cash flow assumptions	5	(5)	(279)
Actual market movement effect	(466)	1,060	(715)
Interest accrual	72	37	7
Attributed fees accrued	397	395	386
Benefit payments	(47)	(36)	(14)
Actual policyholder behavior different from expected behavior	16	19	40
Changes in future economic assumptions	(191)	(1,596)	(397)
Issuances	0	(2)	(1)
Ending balance before changes in the instrument-specific credit risk	324	538	666
Changes in the instrument-specific credit risk	254	1	395		2,144
Balance, end of year	$ 578	$ 539	$ 1,061
Weighted-average age of policyholders (years)	64 years 6 months	63 years 7 months 6 days	62 years 7 months 6 days
Net amount at risk	$ 2,991	$ 3,517	$ 1,115
Liability for market risk benefits	988	914
Purchased MRB Core | Individual Retirement
Market Risk Benefit [Roll Forward]
Balance, beginning of year	0
Beginning balance before changes in the instrument specific credit risk	0
Model changes and effect of changes in cash flow assumptions	(42)
Actual market movement effect	229
Interest accrual	(25)
Attributed fees accrued	(273)
Benefit payments	34
Actual policyholder behavior different from expected behavior	(13)
Changes in future economic assumptions	118
Issuances	(1,294)
Ending balance before changes in the instrument-specific credit risk	(1,266)	0
Changes in the instrument-specific credit risk	86
Balance, end of year	$ (1,180)	0
Weighted-average age of policyholders (years)	64 years 10 months 24 days
Net amount at risk	$ 2,933
Purchased MRB Core | Legacy Segment
Market Risk Benefit [Roll Forward]
Changes in the instrument-specific credit risk					(3,132)
Net GMxB Core | Individual Retirement
Market Risk Benefit [Roll Forward]
Balance, beginning of year	539
Beginning balance before changes in the instrument specific credit risk	538
Model changes and effect of changes in cash flow assumptions	(37)
Actual market movement effect	(237)
Interest accrual	47
Attributed fees accrued	124
Benefit payments	(13)
Actual policyholder behavior different from expected behavior	3
Changes in future economic assumptions	(73)
Issuances	(1,294)
Ending balance before changes in the instrument-specific credit risk	(942)	538
Changes in the instrument-specific credit risk	340
Balance, end of year	(602)	539
GMxB Legacy | Legacy Segment
Market Risk Benefit [Roll Forward]
Balance, beginning of year	14,699	20,236	24,405
Beginning balance before changes in the instrument specific credit risk	15,314	19,719	23,944
Model changes and effect of changes in cash flow assumptions	(19)	317	(196)
Actual market movement effect	(1,847)	3,402	(2,968)
Interest accrual	770	731	196
Attributed fees accrued	843	882	917
Benefit payments	(1,354)	(1,179)	(901)
Actual policyholder behavior different from expected behavior	(14)	142	78
Changes in future economic assumptions	(673)	(8,700)	(1,351)
Issuances	0	0	0
Ending balance before changes in the instrument-specific credit risk	13,020	15,314	19,719
Changes in the instrument-specific credit risk	390	(615)	517		$ 24,404
Balance, end of year	$ 13,410	$ 14,699	$ 20,236
Weighted-average age of policyholders (years)	73 years	72 years 7 months 6 days	72 years
Net amount at risk	$ 21,136	$ 22,631	$ 15,901
Liability for market risk benefits	13,513	14,749
Purchased MRB Legacy
Market Risk Benefit [Roll Forward]
Liability for market risk benefits				$ 8,200
Purchased MRB Legacy | Legacy Segment
Market Risk Benefit [Roll Forward]
Balance, beginning of year	(10,492)	(14,293)	(3,131)
Beginning balance before changes in the instrument specific credit risk	(10,438)	(14,287)	(3,136)
Model changes and effect of changes in cash flow assumptions	(16)	(137)	73
Actual market movement effect	1,464	(1,278)	767
Interest accrual	(762)	(493)	(124)
Attributed fees accrued	(538)	(298)	(196)
Benefit payments	1,175	669	350
Actual policyholder behavior different from expected behavior	(12)	(103)	34
Changes in future economic assumptions	426	5,489	(907)
Issuances	(6,842)	0	(11,148)
Ending balance before changes in the instrument-specific credit risk	(15,543)	(10,438)	(14,287)
Changes in the instrument-specific credit risk	24	(54)	(6)
Balance, end of year	$ (15,519)	$ (10,492)	$ (14,293)
Weighted-average age of policyholders (years)	73 years 3 months 18 days	72 years 1 month 6 days	71 years 6 months
Net amount at risk	$ 20,737	$ 11,755	$ 9,055
Net GMxB Legacy | Legacy Segment
Market Risk Benefit [Roll Forward]
Balance, beginning of year	4,207	5,943
Beginning balance before changes in the instrument specific credit risk	4,876	5,432
Model changes and effect of changes in cash flow assumptions	(35)	180
Actual market movement effect	(383)	2,124
Interest accrual	8	238
Attributed fees accrued	305	584
Benefit payments	(179)	(510)
Actual policyholder behavior different from expected behavior	(26)	39
Changes in future economic assumptions	(247)	(3,211)
Issuances	(6,842)	0
Ending balance before changes in the instrument-specific credit risk	(2,523)	4,876	5,432
Changes in the instrument-specific credit risk	414	(669)
Balance, end of year	$ (2,109)	4,207	5,943
Net Legacy | Legacy Segment
Market Risk Benefit [Roll Forward]
Balance, beginning of year		5,943	21,274
Beginning balance before changes in the instrument specific credit risk		$ 5,432	20,808
Model changes and effect of changes in cash flow assumptions			(123)
Actual market movement effect			(2,201)
Interest accrual			72
Attributed fees accrued			721
Benefit payments			(551)
Actual policyholder behavior different from expected behavior			112
Changes in future economic assumptions			(2,258)
Issuances			(11,148)
Ending balance before changes in the instrument-specific credit risk			5,432
Changes in the instrument-specific credit risk			511
Balance, end of year			$ 5,943

MARKET RISK BENEFITS - Reconcil

MARKET RISK BENEFITS - Reconciles Market Risk Benefits (Details) - USD ($) $ in Millions	Dec. 31, 2023	Apr. 01, 2023	Dec. 31, 2022
Market Risk Benefit [Line Items]
MRB Asset	$ (574)		$ (478)
MRB Liability	14,570	$ 8,200	15,751
Legacy And Individual Retirement
Market Risk Benefit [Line Items]
MRB Asset	(574)		(478)
MRB Liability	14,570		15,751
Net MRB	13,996		15,273
Purchased MRB	(16,729)		(10,490)
Net amount at risk	(2,733)		4,783
GMxB Core | Individual Retirement
Market Risk Benefit [Line Items]
MRB Asset	(410)		(375)
MRB Liability	988		914
Net MRB	578		539
Purchased MRB	(1,180)		0
Net amount at risk	(602)		539
GMxB Legacy | Legacy Segment
Market Risk Benefit [Line Items]
MRB Asset	(103)		(51)
MRB Liability	13,513		14,749
Net MRB	13,410		14,698
Purchased MRB	(15,519)		(10,493)
Net amount at risk	(2,109)		4,205
Others | Individual Retirement
Market Risk Benefit [Line Items]
MRB Asset	(61)		(52)
MRB Liability	69		88
Net MRB	8		36
Purchased MRB	(30)		3
Net amount at risk	$ (22)		$ 39

POLICYHOLDER ACCOUNT BALANCES -

POLICYHOLDER ACCOUNT BALANCES - Reconciliation of Policyholders Account Balances to Policyholders' Account Balance Liability (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Balance (exclusive of Funding Agreements)	$ 68,097	$ 64,101
Funding Agreements	14,893	15,641
Balance, end of year	82,990	79,742
UL
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder Account Balance	5,202	5,341
VUL
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder Account Balance	4,145	4,253
GMxB Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder Account Balance	618	688
GMxB Core
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder Account Balance	(5)	42
SCS
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder Account Balance	40,649	35,460
EQUI-VEST Individual
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder Account Balance	2,322	2,652
EQUI-VEST Group
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder Account Balance	11,563	12,046
Momentum
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder Account Balance	608	703
Others
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder Account Balance	$ 2,995	$ 2,916

POLICYHOLDER ACCOUNT BALANCES_2

POLICYHOLDER ACCOUNT BALANCES - Balances and Changes in Policyholders' Account Balances (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Policyholder Account Balance [Roll Forward]
Interest credited	$ 1,384	$ 1,309	$ 1,115
Universal Life
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	5,341
Balance, end of year	5,202	5,341
Universal Life | Protection Solutions
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	5,341	5,462
Issuances	0	0
Premiums received	698	730
Policy charges	(761)	(789)
Surrenders and withdrawals	(79)	(86)
Benefit payments	(219)	(200)
Net transfers from (to) separate account	0	0
Interest credited	222	224
Other	0	0
Balance, end of year	$ 5,202	$ 5,341	5,462
Weighted-average crediting rate	3.77%	3.62%
Net amount at risk	$ 35,490	$ 37,555
Cash surrender value	3,423	3,483
Variable Universal Life
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	4,253
Balance, end of year	4,145	4,253
Variable Universal Life | Protection Solutions
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	4,253	4,193
Issuances	0	0
Premiums received	114	143
Policy charges	(217)	(210)
Surrenders and withdrawals	(44)	(12)
Benefit payments	(112)	(85)
Net transfers from (to) separate account	(33)	75
Interest credited	184	149
Other	0	0
Balance, end of year	$ 4,145	$ 4,253	4,193
Weighted-average crediting rate	3.75%	3.86%
Net amount at risk	$ 83,050	$ 85,086
Cash surrender value	2,644	2,838
GMxB Legacy
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	688
Balance, end of year	618	688
GMxB Legacy | Legacy Segment
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	688	746
Issuances	0	0
Premiums received	98	72
Policy charges	9	6
Surrenders and withdrawals	(97)	(72)
Benefit payments	(103)	(99)
Net transfers from (to) separate account	(4)	5
Interest credited	27	30
Other	0	0
Balance, end of year	$ 618	$ 688	746
Weighted-average crediting rate	2.71%	1.80%
Net amount at risk	$ 21,136	$ 22,631
Cash surrender value	572	980
GMxB Core | Individual Retirement
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	42	99
Issuances	0	0
Premiums received	43	134
Policy charges	3	(19)
Surrenders and withdrawals	(33)	(30)
Benefit payments	(2)	(2)
Net transfers from (to) separate account	(62)	(146)
Interest credited	4	6
Other	0	0
Balance, end of year	$ (5)	$ 42	99
Weighted-average crediting rate	1.29%	1.05%
Net amount at risk	$ 2,991	$ 3,517
Cash surrender value	216	264
SCS
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	35,460
Balance, end of year	40,649	35,460
SCS | Individual Retirement
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	35,460	33,443
Issuances	0	0
Premiums received	9	2
Policy charges	(8)	0
Surrenders and withdrawals	(2,853)	(2,452)
Benefit payments	(249)	(209)
Net transfers from (to) separate account	2,569	7,229
Interest credited	5,721	(2,553)
Other	0	0
Balance, end of year	40,649	$ 35,460	33,443
Weighted-average crediting rate		1.12%
Net amount at risk	1	$ 92
Cash surrender value	37,816	31,856
EQUI-VEST Individual
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	2,652
Balance, end of year	2,322	2,652
EQUI-VEST Individual | Individual Retirement
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	2,652	2,784
Issuances	0	0
Premiums received	37	46
Policy charges	0	(1)
Surrenders and withdrawals	(378)	(225)
Benefit payments	(70)	(59)
Net transfers from (to) separate account	6	28
Interest credited	72	79
Other	3	0
Balance, end of year	$ 2,322	$ 2,652	2,784
Weighted-average crediting rate	2.84%	2.85%
Net amount at risk	$ 109	$ 143
Cash surrender value	2,315	2,645
EQUI-VEST Group
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	12,046
Balance, end of year	11,563	12,046
EQUI-VEST Group | Group Retirement
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	12,046	11,952
Issuances	0	0
Premiums received	626	610
Policy charges	(4)	(5)
Surrenders and withdrawals	(1,704)	(995)
Benefit payments	(71)	(70)
Net transfers from (to) separate account	272	303
Interest credited	387	251
Other	11	0
Balance, end of year	$ 11,563	$ 12,046	11,952
Weighted-average crediting rate	2.66%	3%
Net amount at risk	$ 10	$ 138
Cash surrender value	11,506	11,961
Momentum
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	703
Balance, end of year	608	703
Momentum | Group Retirement
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	703	705
Issuances	0	0
Premiums received	70	79
Policy charges	(1)	0
Surrenders and withdrawals	(153)	(148)
Benefit payments	(4)	(2)
Net transfers from (to) separate account	(21)	54
Interest credited	14	15
Other	0	0
Balance, end of year	$ 608	$ 703	$ 705
Weighted-average crediting rate	2.33%	2.02%
Net amount at risk	$ 0	$ 0
Cash surrender value	$ 609	$ 702

POLICYHOLDER ACCOUNT BALANCES_3

POLICYHOLDER ACCOUNT BALANCES - Guaranteed Minimum Interest Rates (Details) $ in Millions	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
1 Basis Point - 50 Basis Points Above | Minimum
Policyholder Account Balance [Line Items]
Basis points above guaranteed minimum crediting rate	0.0001	0.0001
1 Basis Point - 50 Basis Points Above | Maximum
Policyholder Account Balance [Line Items]
Basis points above guaranteed minimum crediting rate	0.0050	0.0050
51 Basis Points - 150 Basis Points Above | Minimum
Policyholder Account Balance [Line Items]
Basis points above guaranteed minimum crediting rate	0.0051	0.0051
51 Basis Points - 150 Basis Points Above | Maximum
Policyholder Account Balance [Line Items]
Basis points above guaranteed minimum crediting rate	0.0150	0.0150
Greater Than 150 Basis Points Above | Minimum
Policyholder Account Balance [Line Items]
Basis points above guaranteed minimum crediting rate	0.0150	0.0150
UL
Policyholder Account Balance [Line Items]
Policyholder account value	$ 5,170	$ 5,308
UL | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 6	$ 6
UL | 0% - 1.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
UL | 0% - 1.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
UL | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 1,022	$ 1,030
UL | 1.51% - 2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
UL | 1.51% - 2.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
UL | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 4,142	$ 4,272
UL | Greater than 2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
UL | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account value	$ 3,576	$ 3,796
UL | At Guaranteed Minimum | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
UL | At Guaranteed Minimum | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	61	181
UL | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	3,515	3,615
UL | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	696	854
UL | 1 Basis Point - 50 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
UL | 1 Basis Point - 50 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	69	197
UL | 1 Basis Point - 50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	627	657
UL | 51 Basis Points - 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	462	610
UL | 51 Basis Points - 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	5
UL | 51 Basis Points - 150 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	462	605
UL | 51 Basis Points - 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
UL | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	436	48
UL | Greater Than 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	6	1
UL | Greater Than 150 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	430	47
UL | Greater Than 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
VUL
Policyholder Account Balance [Line Items]
Policyholder account value	3,770	3,921
VUL | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 41	$ 27
VUL | 0% - 1.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
VUL | 0% - 1.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
VUL | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 470	$ 453
VUL | 1.51% - 2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
VUL | 1.51% - 2.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
VUL | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 3,259	$ 3,441
VUL | Greater than 2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
VUL | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account value	$ 3,301	$ 3,864
VUL | At Guaranteed Minimum | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	8	12
VUL | At Guaranteed Minimum | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	34	411
VUL | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	3,259	3,441
VUL | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	417	51
VUL | 1 Basis Point - 50 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	9	9
VUL | 1 Basis Point - 50 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	408	42
VUL | 1 Basis Point - 50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
VUL | 51 Basis Points - 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	46	5
VUL | 51 Basis Points - 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	18	5
VUL | 51 Basis Points - 150 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	28	0
VUL | 51 Basis Points - 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
VUL | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	6	1
VUL | Greater Than 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	6	1
VUL | Greater Than 150 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
VUL | Greater Than 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Legacy
Policyholder Account Balance [Line Items]
Policyholder account value	573	981
GMxB Legacy | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 91	$ 386
GMxB Legacy | 0% - 1.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
GMxB Legacy | 0% - 1.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
GMxB Legacy | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 21	$ 560
GMxB Legacy | 1.51% - 2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
GMxB Legacy | 1.51% - 2.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
GMxB Legacy | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 461	$ 35
GMxB Legacy | Greater than 2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
GMxB Legacy | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account value	$ 557	$ 981
GMxB Legacy | At Guaranteed Minimum | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	75	386
GMxB Legacy | At Guaranteed Minimum | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	21	560
GMxB Legacy | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	461	35
GMxB Legacy | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	16	0
GMxB Legacy | 1 Basis Point - 50 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	16	0
GMxB Legacy | 1 Basis Point - 50 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Legacy | 1 Basis Point - 50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Legacy | 51 Basis Points - 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Legacy | 51 Basis Points - 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Legacy | 51 Basis Points - 150 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Legacy | 51 Basis Points - 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Legacy | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Legacy | Greater Than 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Legacy | Greater Than 150 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Legacy | Greater Than 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Core
Policyholder Account Balance [Line Items]
Policyholder account value	220	271
GMxB Core | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 200	$ 257
GMxB Core | 0% - 1.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
GMxB Core | 0% - 1.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
GMxB Core | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 13	$ 14
GMxB Core | 1.51% - 2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
GMxB Core | 1.51% - 2.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
GMxB Core | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 7	$ 0
GMxB Core | Greater than 2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
GMxB Core | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account value	$ 33	$ 271
GMxB Core | At Guaranteed Minimum | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	13	257
GMxB Core | At Guaranteed Minimum | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	13	14
GMxB Core | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	7	0
GMxB Core | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	187	0
GMxB Core | 1 Basis Point - 50 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	187	0
GMxB Core | 1 Basis Point - 50 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Core | 1 Basis Point - 50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Core | 51 Basis Points - 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Core | 51 Basis Points - 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Core | 51 Basis Points - 150 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Core | 51 Basis Points - 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Core | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Core | Greater Than 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Core | Greater Than 150 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
GMxB Core | Greater Than 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Individual
Policyholder Account Balance [Line Items]
Policyholder account value	2,321	2,652
EQUI-VEST Individual | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 267	$ 345
EQUI-VEST Individual | 0% - 1.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
EQUI-VEST Individual | 0% - 1.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
EQUI-VEST Individual | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 43	$ 46
EQUI-VEST Individual | 1.51% - 2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
EQUI-VEST Individual | 1.51% - 2.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
EQUI-VEST Individual | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 2,011	$ 2,261
EQUI-VEST Individual | Greater than 2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
EQUI-VEST Individual | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account value	$ 2,103	$ 2,590
EQUI-VEST Individual | At Guaranteed Minimum | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	49	345
EQUI-VEST Individual | At Guaranteed Minimum | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	43	46
EQUI-VEST Individual | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	2,011	2,199
EQUI-VEST Individual | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	218	0
EQUI-VEST Individual | 1 Basis Point - 50 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	218	0
EQUI-VEST Individual | 1 Basis Point - 50 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Individual | 1 Basis Point - 50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Individual | 51 Basis Points - 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	0	62
EQUI-VEST Individual | 51 Basis Points - 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Individual | 51 Basis Points - 150 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Individual | 51 Basis Points - 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	62
EQUI-VEST Individual | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Individual | Greater Than 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Individual | Greater Than 150 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Individual | Greater Than 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Group
Policyholder Account Balance [Line Items]
Policyholder account value	10,417	11,794
EQUI-VEST Group | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 3,462	$ 3,592
EQUI-VEST Group | 0% - 1.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
EQUI-VEST Group | 0% - 1.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
EQUI-VEST Group | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 345	$ 902
EQUI-VEST Group | 1.51% - 2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
EQUI-VEST Group | 1.51% - 2.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
EQUI-VEST Group | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 6,610	$ 7,300
EQUI-VEST Group | Greater than 2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
EQUI-VEST Group | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account value	$ 7,728	$ 7,069
EQUI-VEST Group | At Guaranteed Minimum | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	773	109
EQUI-VEST Group | At Guaranteed Minimum | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	345	11
EQUI-VEST Group | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	6,610	6,949
EQUI-VEST Group | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	2,338	28
EQUI-VEST Group | 1 Basis Point - 50 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	2,338	5
EQUI-VEST Group | 1 Basis Point - 50 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	2
EQUI-VEST Group | 1 Basis Point - 50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	21
EQUI-VEST Group | 51 Basis Points - 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	36	1,585
EQUI-VEST Group | 51 Basis Points - 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	36	366
EQUI-VEST Group | 51 Basis Points - 150 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	889
EQUI-VEST Group | 51 Basis Points - 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	330
EQUI-VEST Group | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	315	3,112
EQUI-VEST Group | Greater Than 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	315	3,112
EQUI-VEST Group | Greater Than 150 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Group | Greater Than 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Momentum
Policyholder Account Balance [Line Items]
Policyholder account value	607	702
Momentum | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 395	$ 445
Momentum | 0% - 1.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
Momentum | 0% - 1.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
Momentum | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 139	$ 179
Momentum | 1.51% - 2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
Momentum | 1.51% - 2.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
Momentum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 73	$ 78
Momentum | Greater than 2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
Momentum | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account value	$ 206	$ 266
Momentum | At Guaranteed Minimum | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	15
Momentum | At Guaranteed Minimum | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	138	178
Momentum | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	68	73
Momentum | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	13	302
Momentum | 1 Basis Point - 50 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	12	301
Momentum | 1 Basis Point - 50 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	1	1
Momentum | 1 Basis Point - 50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Momentum | 51 Basis Points - 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	335	127
Momentum | 51 Basis Points - 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	330	122
Momentum | 51 Basis Points - 150 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Momentum | 51 Basis Points - 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	5	5
Momentum | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	53	7
Momentum | Greater Than 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	53	7
Momentum | Greater Than 150 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Momentum | Greater Than 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 0	$ 0

POLICYHOLDER ACCOUNT BALANCES_4

POLICYHOLDER ACCOUNT BALANCES - Reconciliation of Separate Account Liabilities to Separate Account Liability balance (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	$ 121,497	$ 111,479
VUL | Protection Solutions
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	13,694	11,535	$ 14,574
GMxB Legacy | Legacy Segment
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	33,793	32,616	44,912
GMxB Core | Legacy Segment
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	27,664	27,017
GMxB Core | Individual Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	27,664	27,017	34,973
EQUI-VEST Individual | Individual Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	4,584	4,162	5,584
IE
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	4,048	3,772
IE | Individual Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	4,048	3,772	4,287
EG | Group Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	26,960	22,393	27,509
Momentum | Group Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	4,421	3,884	$ 4,975
Others | Other
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	$ 6,333	$ 6,100

POLICYHOLDER ACCOUNT BALANCES_5

POLICYHOLDER ACCOUNT BALANCES - Balances and Changes in Separate Accounts Liability (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Separate Account, Liability [Roll Forward]
Balance, beginning of year	$ 111,479
Balance, end of year	121,497	$ 111,479
VUL | Protection Solutions
Separate Account, Liability [Roll Forward]
Balance, beginning of year	11,535	14,574
Premiums and deposits	788	757
Policy charges	(429)	(423)
Surrenders and withdrawals	(512)	(380)
Benefit payments	(61)	(102)
Investment performance	2,340	(2,816)
Net transfers from (to) general account	33	(75)
Other charges	0
Balance, end of year	13,694	11,535
Cash surrender value	13,682	11,555
GMxB Legacy | Legacy Segment
Separate Account, Liability [Roll Forward]
Balance, beginning of year	32,616	44,912
Premiums and deposits	219	240
Policy charges	(656)	(682)
Surrenders and withdrawals	(2,826)	(2,824)
Benefit payments	(728)	(702)
Investment performance	5,164	(8,323)
Net transfers from (to) general account	4	(5)
Other charges	0
Balance, end of year	33,793	32,616
Cash surrender value	33,512	32,320
GMxB Core | Legacy Segment
Separate Account, Liability [Roll Forward]
Balance, beginning of year	27,017
Balance, end of year	27,664	27,017
GMxB Core | Individual Retirement
Separate Account, Liability [Roll Forward]
Balance, beginning of year	27,017	34,973
Premiums and deposits	472	943
Policy charges	(473)	(482)
Surrenders and withdrawals	(2,566)	(2,303)
Benefit payments	(219)	(215)
Investment performance	3,371	(6,045)
Net transfers from (to) general account	62	146
Other charges	0
Balance, end of year	27,664	27,017
Cash surrender value	26,980	26,195
EQUI-VEST Individual | Individual Retirement
Separate Account, Liability [Roll Forward]
Balance, beginning of year	4,162	5,584
Premiums and deposits	93	124
Policy charges	(2)	(2)
Surrenders and withdrawals	(428)	(328)
Benefit payments	(57)	(52)
Investment performance	818	(1,136)
Net transfers from (to) general account	(6)	(28)
Other charges	4
Balance, end of year	4,584	4,162
Cash surrender value	4,549	4,129
Investment Edge
Separate Account, Liability [Roll Forward]
Balance, beginning of year	3,772
Balance, end of year	4,048	3,772
Investment Edge | Individual Retirement
Separate Account, Liability [Roll Forward]
Balance, beginning of year	3,772	4,287
Premiums and deposits	332	1,002
Policy charges	0	(1)
Surrenders and withdrawals	(406)	(327)
Benefit payments	(39)	(34)
Investment performance	528	(733)
Net transfers from (to) general account	(139)	(422)
Other charges	0
Balance, end of year	4,048	3,772
Cash surrender value	3,972	3,679
EQUI-VEST Group | Group Retirement
Separate Account, Liability [Roll Forward]
Balance, beginning of year	22,393	27,509
Premiums and deposits	2,174	2,104
Policy charges	(18)	(17)
Surrenders and withdrawals	(1,750)	(1,359)
Benefit payments	(55)	(60)
Investment performance	4,463	(5,481)
Net transfers from (to) general account	(272)	(303)
Other charges	25
Balance, end of year	26,960	22,393
Cash surrender value	26,683	22,163
Momentum | Group Retirement
Separate Account, Liability [Roll Forward]
Balance, beginning of year	3,884	4,975
Premiums and deposits	644	668
Policy charges	(21)	(20)
Surrenders and withdrawals	(820)	(753)
Benefit payments	(13)	(14)
Investment performance	726	(918)
Net transfers from (to) general account	21	(54)
Other charges	0
Balance, end of year	4,421	3,884
Cash surrender value	$ 4,414	$ 3,879

POLICYHOLDER ACCOUNT BALANCES_6

POLICYHOLDER ACCOUNT BALANCES - Aggregate Fair Value of Separate Account Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Policyholder Account Balance [Line Items]
Separate Accounts assets	$ 121,497	$ 111,479
Debt securities
Policyholder Account Balance [Line Items]
Separate Accounts assets	76	84
Common Stock
Policyholder Account Balance [Line Items]
Separate Accounts assets	2,213	2,189
Mutual Funds
Policyholder Account Balance [Line Items]
Separate Accounts assets	117,829	108,021
Bonds and Notes
Policyholder Account Balance [Line Items]
Separate Accounts assets	1,379	1,185
Life Insurance & Employee Benefits Products
Policyholder Account Balance [Line Items]
Separate Accounts assets	13,761	11,620
Life Insurance & Employee Benefits Products | Debt securities
Policyholder Account Balance [Line Items]
Separate Accounts assets	48	58
Life Insurance & Employee Benefits Products | Common Stock
Policyholder Account Balance [Line Items]
Separate Accounts assets	65	41
Life Insurance & Employee Benefits Products | Mutual Funds
Policyholder Account Balance [Line Items]
Separate Accounts assets	13,557	11,402
Life Insurance & Employee Benefits Products | Bonds and Notes
Policyholder Account Balance [Line Items]
Separate Accounts assets	91	119
Individual Variable Annuity Products
Policyholder Account Balance [Line Items]
Separate Accounts assets	70,854	68,256
Individual Variable Annuity Products | Debt securities
Policyholder Account Balance [Line Items]
Separate Accounts assets	1	1
Individual Variable Annuity Products | Common Stock
Policyholder Account Balance [Line Items]
Separate Accounts assets	34	32
Individual Variable Annuity Products | Mutual Funds
Policyholder Account Balance [Line Items]
Separate Accounts assets	70,815	68,220
Individual Variable Annuity Products | Bonds and Notes
Policyholder Account Balance [Line Items]
Separate Accounts assets	4	3
Employer - Sponsored Products
Policyholder Account Balance [Line Items]
Separate Accounts assets	33,249	28,087
Employer - Sponsored Products | Debt securities
Policyholder Account Balance [Line Items]
Separate Accounts assets	21	17
Employer - Sponsored Products | Common Stock
Policyholder Account Balance [Line Items]
Separate Accounts assets	447	430
Employer - Sponsored Products | Mutual Funds
Policyholder Account Balance [Line Items]
Separate Accounts assets	32,780	27,639
Employer - Sponsored Products | Bonds and Notes
Policyholder Account Balance [Line Items]
Separate Accounts assets	1	1
Other
Policyholder Account Balance [Line Items]
Separate Accounts assets	3,633	3,516
Other | Debt securities
Policyholder Account Balance [Line Items]
Separate Accounts assets	6	8
Other | Common Stock
Policyholder Account Balance [Line Items]
Separate Accounts assets	1,667	1,686
Other | Mutual Funds
Policyholder Account Balance [Line Items]
Separate Accounts assets	677	760
Other | Bonds and Notes
Policyholder Account Balance [Line Items]
Separate Accounts assets	$ 1,283	$ 1,062

LEASES - Narrative (Details)

LEASES - Narrative (Details) - ft² ft² in Thousands	Dec. 31, 2023	Dec. 31, 2021
New York City, NY
Lessee, Lease, Description [Line Items]
Term of contract	15 years
Area of property (in sq. ft.)	89
Syracuse, NY
Lessee, Lease, Description [Line Items]
Term of contract		5 years
Area of property (in sq. ft.)		143
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	15 years

LEASES - Balance Sheet Classifi

LEASES - Balance Sheet Classification (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease assets	$ 192	$ 148
Operating lease assets [Extensible Enumeration]	Other Assets	Other Assets
Operating lease liabilities	$ 210	$ 190
Operating lease liabilities [Extensible Enumeration]	Other Liabilities	Other Liabilities

LEASES - Lease Costs (Details)

LEASES - Lease Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease cost	$ 61	$ 77	$ 73
Variable operating lease cost	15	12	10
Sublease income	(19)	(19)	(18)
Net lease cost	$ 57	$ 70	$ 65

LEASES - Lease Maturities (Deta

LEASES - Lease Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Operating Leases:
2024	$ 43
2025	39
2026	35
2027	30
2028	27
Thereafter	92
Total lease payments	266
Less: Interest	(56)
Present value of lease liabilities	$ 210	$ 190

LEASES - Supplemental Lease Inf

LEASES - Supplemental Lease Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Weighted-average remaining operating lease term	8 years	4 years
Weighted-average discount rate for operating leases	4.30%	3%
Operating cash flows from operating leases	$ 83	$ 92	$ 94
Leased assets obtained in exchange for new operating lease liabilities	$ 92	$ 7	$ 26

REINSURANCE - Effect of Reinsur

REINSURANCE - Effect of Reinsurance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reinsurance Disclosures [Abstract]
Direct charges and fee income	$ 2,708	$ 2,876	$ 3,125
Reinsurance assumed	13	0	0
Reinsurance ceded - Equitable America	(1,015)	0	0
Reinsurance ceded - third party	(611)	(651)	(563)
Policy charges and fee income	1,095	2,225	2,562
Direct premiums	820	764	762
Reinsurance assumed	175	180	181
Reinsurance ceded - Equitable America	(174)	0	0
Reinsurance ceded - third party	(234)	(219)	(193)
Premiums	587	725	750
Direct policyholders’ benefits	2,763	2,800	2,817
Reinsurance assumed	158	180	217
Reinsurance ceded - Equitable America	(528)	0	0
Reinsurance ceded - third party	(612)	(653)	(627)
Policyholders’ benefits	1,781	2,327	2,407
Direct Interest credited to policyholders’ account balances	1,963	1,338	1,117
Reinsurance assumed	0	0	0
Reinsurance ceded - Equitable America	(471)	0	0
Reinsurance ceded - third party	(108)	(29)	(2)
Interest credited to policyholders’ account balances	$ 1,384	$ 1,309	$ 1,115

REINSURANCE - Narrative (Detail

REINSURANCE - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Oct. 03, 2022	Dec. 31, 2023
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance per life for single lives, amount retained		$ 25,000
Reinsurance per life for joint lives, amount retained		$ 30,000
Reinsurance retention policy, percentage of excess reinsured		100%
Deferred variable annuity	$ 360
Global Atlantic Transaction
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Percentage Of Loans Receivable, Fair Value Disclosure	50%

REINSURANCE - Reinsurance Reten

REINSURANCE - Reinsurance Retention (Details) $ in Millions	Dec. 31, 2023 USD ($)
Carrying Value
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	$ 41,872
Carrying Value | Fixed maturities
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	24,725
Carrying Value | Mortgage loans on real estate
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	8,405
Carrying Value | Policy loans
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	248
Carrying Value | Other equity investments
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	238
Carrying Value | Other invested assets
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	8,256
Fair Value
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	40,879
Fair Value | Fixed maturities
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	24,725
Fair Value | Mortgage loans on real estate
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	7,409
Fair Value | Policy loans
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	250
Fair Value | Other equity investments
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	238
Fair Value | Other invested assets
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	$ 8,257

REINSURANCE - Investment Income

REINSURANCE - Investment Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reinsurance Retention Policy [Line Items]
Net derivative gains (losses)	$ (2,417)	$ 879	$ (7,216)
Net investment income (loss)	(584)	(643)	851
Income (loss) from continuing operations, before income taxes	(1,073)	1,982	1,303
Income tax (expense) benefit	1,230	(388)	(192)
Net income (loss) attributable to Equitable Financial	156	1,597	1,111
Comprehensive income (loss)	1,074	(7,577)	(1,074)
Embedded derivatives
Reinsurance Retention Policy [Line Items]
Net derivative gains (losses)	(5,566)	$ 2,857	$ (3,760)
Funds Withheld Assets
Reinsurance Retention Policy [Line Items]
Net derivative gains (losses)	(1,265)
Net investment income (loss)	994
Investment gains (losses), net	(245)
Income (loss) from continuing operations, before income taxes	(516)
Net income (loss) attributable to Equitable Financial	(408)
Change in unrealized gains (losses), net of income taxes	240
Comprehensive income (loss)	(168)
Funds Withheld Assets | Freestanding derivatives
Reinsurance Retention Policy [Line Items]
Net derivative gains (losses)	1,944
Funds Withheld Assets | Embedded derivatives
Reinsurance Retention Policy [Line Items]
Net derivative gains (losses)	$ (3,209)

REINSURANCE - Ceded Credit Risk

REINSURANCE - Ceded Credit Risk (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Reinsurance Retention Policy [Line Items]
Estimated net fair values of purchased market risk benefits	$ 16,729	$ 10,490
Reinsurance recoverables related to insurance contracts	20,636	7,131
Related party - Equitable America	13,492	0
Third parties	7,144	7,131
Ceded group health reserves	14	14
Amount due to reinsurers	216	282
Amounts due to reinsurers	216	282
Reinsurance assumed reserves	731	701
Modco payable	33,400
Modco payable	(30,300)
First Allmerica-GAF
Reinsurance Retention Policy [Line Items]
Reinsurance recoverables related to top reinsurers	3,605	4,005
Amounts due to reinsurers	73	147
Venerable Insurance and Annuity Company (A- KBRA (IFRS) rating)
Reinsurance Retention Policy [Line Items]
Reinsurance recoverables related to top reinsurers	$ 1,057	$ 543

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details) - Related Party - USD ($)	1 Months Ended		12 Months Ended
	Jun. 30, 2021	Nov. 30, 2019	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Agreement costs paid			$ 24,000,000	$ 22,000,000
Cost Sharing And General Service Agreements
Related Party Transaction [Line Items]
Operating costs and expenses			57,000,000	75,000,000	$ 30,000,000
Investment management and administrative services provided to EQAT and 1290 Funds | EIM LLC
Related Party Transaction [Line Items]
Operating costs and expenses			185,000,000	92,000,000
Investment management and administrative services provided to EQAT and 1290 Funds | AllianceBernstein (AB)
Related Party Transaction [Line Items]
Operating costs and expenses			46,000,000	44,000,000	102,000,000
Insurance-Related Transactions | EQ AZ Life Re
Related Party Transaction [Line Items]
GMIB reinsurance contract asset, at fair value			0	77,000,000
Insurance-Related Transactions | EQ AZ Life Re | Universal Life And No Lapse Guarantee Riders
Related Party Transaction [Line Items]
Agreement costs paid			63,000,000	105,000,000	93,000,000
Ceded premiums			51,000,000	48,000,000	$ 48,000,000
Investments In Unconsolidated Equity Interests | AllianceBernstein (AB) | Variable Interest Entity, Primary Beneficiary
Related Party Transaction [Line Items]
Invested assets			326,000,000	331,000,000
Investments In Unconsolidated Equity Interests | AllianceBernstein (AB) | Non-consolidated Vairable Interest Entities
Related Party Transaction [Line Items]
Net assets			2,600,000,000	771,000,000
Unfunded commitments			37,000,000	74,000,000
Loans Issued | Equitable Holdings | Term loan, 10 year, 3.23 percent
Related Party Transaction [Line Items]
Loans to affiliates	$ 1,000,000,000
Debt instrument term	10 years
Related party debt interest rate	3.23%
Related party debt outstanding			1,000,000,000	1,000,000,000
Loans Issued | Equitable Holdings | EQH-AEL internal debt (one-month LIBOR 1.33%, due 2024)
Related Party Transaction [Line Items]
Loans to affiliates		$ 900,000,000
Related party debt interest rate		1.33%
Related party debt outstanding			$ 900,000,000	$ 900,000,000

RELATED PARTY TRANSACTIONS - Re

RELATED PARTY TRANSACTIONS - Revenues and Expenses Transactions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Revenue received or accrued for:	$ 3,515	$ 6,984	$ 1,661
Related Party | Investment management and administrative services provided to EQAT and 1290 Funds
Related Party Transaction [Line Items]
Revenue received or accrued for:	692	708	757
Related Party | Investment management and administrative services provided to EQAT and 1290 Funds | Other AXA Trusts
Related Party Transaction [Line Items]
Revenue received or accrued for:			3
Related Party | Amounts received or accrued for commissions and fees earned for sale of Equitable America’s insurance products
Related Party Transaction [Line Items]
Revenue received or accrued for:	332	82	38
Expenses paid or accrued for:	$ 612	$ 718	$ 712

EMPLOYEE BENEFIT PLANS - Narrat

EMPLOYEE BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Qualified Plan | Equitable 401(k) Plan
Defined Benefit Plan Disclosure [Line Items]
Expenses associated with plan	$ 38	$ 17	$ 29
Qualified Plan | Equitable Financial QP
Defined Benefit Plan Disclosure [Line Items]
Income associated with plan	(23)	(25)	(12)
Nonqualified Plan
Defined Benefit Plan Disclosure [Line Items]
Expenses associated with plan	$ 39	$ 22	$ 23

EMPLOYEE BENEFIT PLANS - Summar

EMPLOYEE BENEFIT PLANS - Summary of Plan (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Total plan assets	$ 1,796	$ 1,801
Accumulated benefit obligation	$ 1,584	$ 1,614
Funded status	113.40%	111.60%

SHARE-BASED COMPENSATION PROG_3

SHARE-BASED COMPENSATION PROGRAMS - Schedule of Compensation Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Compensation Expenses	$ 43	$ 61	$ 39
Income Tax Benefit	5	12	8
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Compensation Expenses	12	25	12
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Compensation Expenses	0	1	0
Restricted Stock Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Compensation Expenses	$ 31	$ 35	$ 27

SHARE-BASED COMPENSATION PROG_4

SHARE-BASED COMPENSATION PROGRAMS - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) tranche shares	Dec. 31, 2022 shares	Dec. 31, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted in period (in shares)	0	0	0
Restricted Stock Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Unvested restricted shares and holding units (in shares)	2,200,000
Compensation cost not yet recognized | $	$ 26
Compensation cost, recognition period	1 year 7 months 6 days
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Stock Options | Vesting tranche one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33.33%
Stock Options | Vesting tranche two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33.33%
Stock Options | Vesting tranche three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33.33%
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Number of trances | tranche	2
Unvested restricted shares and holding units (in shares)	1,100,000
Compensation cost not yet recognized | $	$ 8
Compensation cost, recognition period	1 year 7 months 6 days
Percentage of award type	50%
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of potential shares earned	0%
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of potential shares earned	200%
Omnibus Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved and available for issuance (in shares)	18,000,000

SHARE-BASED COMPENSATION PROG_5

SHARE-BASED COMPENSATION PROGRAMS - Stock Option Activity (Details) - 12 months ended Dec. 31, 2023 € / shares in Units, $ / shares in Units, € in Thousands, shares in Thousands, $ in Thousands	USD ($) $ / shares shares	USD ($) € / shares $ / shares shares	EUR (€) € / shares shares
EQH Shares
Number Outstanding   (In 000’s)
Options outstanding at beginning of period (in shares)	1,590	1,590
Options granted (in shares)	0	0
Options exercised (in shares)	(155)	(155)
Options forfeited, net (in shares)	0	0
Options expired/reinstated (in shares)	0	0
Options outstanding at end of period (in shares)	1,435	1,435
Weighted Average Exercise Price
Options outstanding at beginning of period (in dollars/euros per share) | $ / shares	$ 21.72
Options granted (in dollars/euros per share) | $ / shares	0
Options exercised (in dollars/euros per share) | $ / shares	20.17
Options forfeited, net (in dollars/euros per share) | $ / shares	0
Options expired/reinstated (in dollars/euros per share) | $ / shares	0
Options outstanding at end of period (in dollars/euros per share) | $ / shares	$ 21.92
Aggregate intrinsic value of options outstanding | $	$ 16,333	$ 16,333
Weighted average remaining contractual term of options outstanding	5 years 6 months 25 days	5 years 6 months 25 days
Options exercisable (in shares)	1,435	1,435	1,435
Options exercisable (in dollars/euros per share) | $ / shares	$ 21.92	$ 21.92
Aggregate intrinsic value of options exercisable | $	$ 16,333	$ 16,333
Weighted average remaining contractual term of options exercisable	5 years 6 months 25 days	5 years 6 months 25 days
AXA Ordinary Shares
Number Outstanding   (In 000’s)
Options outstanding at beginning of period (in shares)	559	559
Options granted (in shares)	0	0
Options exercised (in shares)	(232)	(232)
Options forfeited, net (in shares)	0	0
Options expired/reinstated (in shares)	0	0
Options outstanding at end of period (in shares)	327	327
Weighted Average Exercise Price
Options outstanding at beginning of period (in dollars/euros per share) | € / shares		$ 22.92
Options granted (in dollars/euros per share) | € / shares		0
Options exercised (in dollars/euros per share) | € / shares		23.49
Options forfeited, net (in dollars/euros per share) | € / shares		0
Options expired/reinstated (in dollars/euros per share) | € / shares		0
Options outstanding at end of period (in dollars/euros per share) | € / shares		$ 22.52
Aggregate intrinsic value of options outstanding | €			€ 2,283
Weighted average remaining contractual term of options outstanding	3 years 3 months 3 days	3 years 3 months 3 days
Options exercisable (in shares)	297	297	297
Options exercisable (in dollars/euros per share) | € / shares			€ 22.61
Aggregate intrinsic value of options exercisable | €			€ 2,041
Weighted average remaining contractual term of options exercisable	3 years 1 month 9 days	3 years 1 month 9 days

SHARE-BASED COMPENSATION PROG_6

SHARE-BASED COMPENSATION PROGRAMS - Restricted and Performance Stock Activity (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Restricted Stock Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested beginning balance (in shares) | shares	1,944,969
Granted (in shares) | shares	1,120,750
Forfeited (in shares) | shares	(105,186)
Vested (in shares) | shares	(743,313)
Unvested ending balance (in shares) | shares	2,217,220
Weighted-Average Grant Date  Fair Value
Unvested beginning balance (in dollars per share) | $ / shares	$ 29.78
Granted (in dollars per share) | $ / shares	32.23
Forfeited (in dollars per share) | $ / shares	31.47
Vested (in dollars per share) | $ / shares	26.98
Unvested ending balance (in dollars per share) | $ / shares	$ 32.34
Performance Shares, Holdings
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested beginning balance (in shares) | shares	1,071,369
Granted (in shares) | shares	350,303
Forfeited (in shares) | shares	(1,263)
Vested (in shares) | shares	(361,081)
Unvested ending balance (in shares) | shares	1,059,328
Weighted-Average Grant Date  Fair Value
Unvested beginning balance (in dollars per share) | $ / shares	$ 32.98
Granted (in dollars per share) | $ / shares	39.07
Forfeited (in dollars per share) | $ / shares	29
Vested (in dollars per share) | $ / shares	29.08
Unvested ending balance (in dollars per share) | $ / shares	$ 36.32

INCOME TAXES - Components of In

INCOME TAXES - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Current (expense) benefit	$ (31)	$ 32	$ 11
Deferred (expense) benefit	1,261	(420)	(203)
Total	$ 1,230	$ (388)	$ (192)

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Effective Tax Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Effective Income Tax Rate Reconciliation
Expected income tax (expense) benefit	$ 226	$ (417)	$ (273)
Non-taxable investment income	62	50	79
Tax audit interest	(22)	(13)	(14)
Tax credits	12	17	28
Deferred tax adjustment	0	(21)	0
Valuation Allowance	963	0	0
Other	(11)	(4)	(12)
Total	$ 1,230	$ (388)	$ (192)

INCOME TAXES - Deferred Tax Ass

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Components of Deferred Tax Assets [Abstract]
Compensation and related benefits	$ 62	$ 62
Net operating loss and credits	1,455	505
Reserves and reinsurance	314	986
Unrealized investment gains (losses)	1,412	1,910
Investments	872	451
Other	50	108
Valuation allowance	(217)	(1,489)
Total	3,948	2,533
Components of Deferred Tax Liabilities [Abstract]
DAC	797	789
Unrealized investment gains (losses)		0
Investments		0
Other		0
Total	$ 797	$ 789

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Valuation Allowance [Line Items]
Increase (decrease) in valuation allowance	$ 1,500
Valuation allowance	1,489	$ 217	$ 1,489
Interest and penalties included in unrecognized tax benefits	61	83	61
Interest expense related to unrecognized tax benefits		23	13	$ 14
Domestic Tax Authority
Valuation Allowance [Line Items]
Operating loss carryforwards	$ 2,300	6,200	$ 2,300
Other Comprehensive Income
Valuation Allowance [Line Items]
Increase (decrease) in valuation allowance		(310)
Net Income
Valuation Allowance [Line Items]
Increase (decrease) in valuation allowance		$ (963)

INCOME TAXES - Unrecognized Def

INCOME TAXES - Unrecognized Deferred Tax Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 295	$ 295	$ 281
Additions for tax positions of prior years	7	0	17
Reductions for tax positions of prior years	0	0	(3)
Additions for tax positions of current year	0	0	0
Settlements with tax authorities	0	0	0
Ending balance	302	295	295
Unrecognized tax benefits that, if recognized, would impact the effective rate	$ 43	$ 43	$ 43

EQUITY - Cumulative Gains (Loss

EQUITY - Cumulative Gains (Losses) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI	$ (1,641)	$ (1,074)	$ 7,483	$ 11,643
Accumulated other comprehensive income (loss) attributable to Equitable Financial
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI	(6,938)	(7,855)	$ 1,316	$ 4,595
Unrealized gains (losses) on investments
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI	(6,363)	(8,873)
Market risk benefits - instrument-specific credit risk component
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI	(764)	665
Liability for future policy benefits - current discount rate component
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI	194	357
Defined benefit pension plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI	$ (5)	$ (4)

EQUITY - Changes in AOCI (Detai

EQUITY - Changes in AOCI (Details) - USD ($) $ in Millions		3 Months Ended	12 Months Ended
		Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Change in net unrealized gains (losses) on investments:
Net unrealized gains (losses) arising during the period			$ 1,692	$ (12,915)	$ (2,293)
(Gains) losses reclassified into net income (loss) during the period			515	700	(686)
Net unrealized gains (losses) on investments			2,207	(12,215)	(2,979)
Adjustments for policyholders’ liabilities, insurance liability loss recognition and other			(32)	755	476
Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $186 , $(1,162)and $(665))	[1]		2,175	(11,460)	(2,503)
Change in LFPB discount rate and MRB credit risk, net of tax
Market risk benefits - change in instrument-specific credit risk (net of deferred income tax expense (benefit) of $(300), $331, and $13)			(1,129)	1,247	51
Liability for future policy benefits - change in current discount rate (net of deferred income tax expense (benefit) of $(34), $277 and $71 )			(128)	1,042	267
Change in defined benefit plans:
Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost			(1)	0	0
Change in defined benefit plans (net of deferred income tax expense (benefit) of $0,$0 and $0)			(1)	0	0
Other comprehensive income (loss) attributable to Equitable Financial			917	(9,171)	(2,185)
Deferred income tax expense (benefit) for change in unrealized gains (losses)			186	(1,162)	(665)
Deferred income tax expense (benefit) for market risk benefits - change in instrument-specific credit risk			(300)	331	13
Deferred income tax expense (benefit) for liability for future policy benefits - change in current discount rate			(34)	277	71
Deferred income tax expense (benefit) for change in defined benefit plans			0	0	0
Increase (decrease) in valuation allowance		$ 1,500
Valuation allowance		$ 1,489	217	1,489
Reclassification adjustment			137	186	182
Cumulative effect of adoption | Accounting Standards Update 2018-12
Change in defined benefit plans:
Other comprehensive income (loss) attributable to Equitable Financial			0	0	(1,094)
Deferred income tax expense (benefit) for long duration targeted improvements			0	0	(291)
Cumulative effect of period of adoption, adjusted balance | Accounting Standards Update 2018-12
Change in defined benefit plans:
Other comprehensive income (loss) attributable to Equitable Financial			$ 917	$ (9,171)	$ (3,279)
[1] See Note 17 of the Notes to these Consolidated Financial Statements for details of change in unrealized gains (losses), net of adjustments.

COMMITMENTS AND CONTINGENT LI_3

COMMITMENTS AND CONTINGENT LIABILITIES - Narrative (Details)	Dec. 31, 2023 USD ($) legalAction	May 31, 2023 USD ($)	Feb. 29, 2016 USD ($) federal_action
Loss Contingencies [Line Items]
Unaccrued amounts of reasonably possible range of losses	$ 150,000,000
Number of federal actions | federal_action			3
Federal home loan bank stock	357,000,000
Carrying value of collateral pledged for federal home loan bank	10,300,000,000
Commitments by the company to provide equity financing	1,200,000,000
Commitments under existing mortgage loan agreements	751,000,000
Letter of Credit
Loss Contingencies [Line Items]
Undrawn balance	17,000,000
Trust Notes
Loss Contingencies [Line Items]
Line of credit facility, maximum borrowing capacity	10,000,000,000
Funding Agreement-Backed Commercial Paper Program
Loss Contingencies [Line Items]
Long-term line of credit outstanding	$ 948,000,000
Funding Agreement-Backed Commercial Paper Program | Commercial Paper
Loss Contingencies [Line Items]
Long-term line of credit outstanding		$ 3,000,000,000
New York
Loss Contingencies [Line Items]
Number of actions | legalAction	2
Brach Family Foundation Litigation
Loss Contingencies [Line Items]
Liability for future policy benefits, face value of policy			$ 1,000,000

COMMITMENTS AND CONTINGENT LI_4

COMMITMENTS AND CONTINGENT LIABILITIES - Funding Agreements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Federal Home Loan Bank (FHLB)
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	$ 8,501
Issued During the Period	59,957
Repaid During the Period	60,843
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Outstanding balance, period end	7,615
Difference related to remaining amortization	3	$ 4
Federal Home Loan Bank (FHLB) | Due in one year or less
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	6,130
Issued During the Period	59,957
Repaid During the Period	60,843
Long-term Agreements Maturing Within One Year	924
Long-term Agreements Maturing Within Five Years	0
Outstanding balance, period end	6,168
Federal Home Loan Bank (FHLB) | Total long-term funding agreements
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	2,371
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	(924)
Long-term Agreements Maturing Within Five Years	0
Outstanding balance, period end	1,447
Federal Home Loan Bank (FHLB) | Due in years two through five
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	1,679
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	(880)
Long-term Agreements Maturing Within Five Years	0
Outstanding balance, period end	799
Federal Home Loan Bank (FHLB) | Due in more than five years
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	692
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	(44)
Long-term Agreements Maturing Within Five Years	0
Outstanding balance, period end	648
Funding Agreement-Backed Notes Program (FABN)
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	7,085
Issued During the Period	671
Repaid During the Period	(1,500)
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Foreign Currency Transaction Adjustment	28
Outstanding balance, period end	6,284
Difference related to remaining amortization	17	$ 66
Funding Agreement-Backed Notes Program (FABN) | Due in one year or less
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	1,500
Issued During the Period	0
Repaid During the Period	(1,500)
Long-term Agreements Maturing Within One Year	1,000
Long-term Agreements Maturing Within Five Years	0
Foreign Currency Transaction Adjustment	0
Outstanding balance, period end	1,000
Funding Agreement-Backed Notes Program (FABN) | Total long-term funding agreements
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	5,585
Issued During the Period	671
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	(1,000)
Long-term Agreements Maturing Within Five Years	0
Foreign Currency Transaction Adjustment	28
Outstanding balance, period end	5,284
Funding Agreement-Backed Notes Program (FABN) | Due in years two through five
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	4,000
Issued During the Period	671
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	(1,000)
Long-term Agreements Maturing Within Five Years	1,285
Foreign Currency Transaction Adjustment	28
Outstanding balance, period end	4,984
Funding Agreement-Backed Notes Program (FABN) | Due in more than five years
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	1,585
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	(1,285)
Foreign Currency Transaction Adjustment	0
Outstanding balance, period end	$ 300

INSURANCE STATUTORY FINANCIAL_2

INSURANCE STATUTORY FINANCIAL INFORMATION (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) prescribed_and_permitted_practice	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2022	Jun. 30, 2021 USD ($)
Related Party Transaction [Line Items]
Insurance Groups statutory net income (loss)	$ (1,700,000,000)	$ 134,000,000	$ (865,000,000)
Statutory surplus, capital stock and asset valuation reserve	2,800,000,000	6,600,000,000
Securities on deposit with such government or state agencies	5,000,000	5,000,000
Shareholder dividends	$ 1,700,000,000	$ 930,000,000	$ 0
Number of prescribed and permitted practices | prescribed_and_permitted_practice	3
Statement of Statutory Accounting Principles 108
Related Party Transaction [Line Items]
Increase (decrease) in statutory special surplus funds	$ (64,000,000)
Unassigned surplus balance					$ 0
Regulation Number 213
Related Party Transaction [Line Items]
Change in statutory surplus	(251,000,000)
Percentage of reserves phased-in				100%
Redundant reserve balance over TAR	241,000,000
Regulation Number 213 with Seperate Accounts
Related Party Transaction [Line Items]
Change in statutory surplus	1,900,000,000
EQ AZ Life Re
Related Party Transaction [Line Items]
Other restricted assets	1,300,000,000
EQ AZ Life Re | Letter of Credit | Revolving Credit Facility | Holdings Revolving Credit Facility
Related Party Transaction [Line Items]
Line of credit facility, maximum borrowing capacity	$ 2,000,000,000

REDEEMABLE NONCONTROLLING INT_3

REDEEMABLE NONCONTROLLING INTEREST (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance, beginning of period	$ 21	$ 28	$ 41
Net earnings (loss) attributable to redeemable noncontrolling interests	1	(3)	0
Purchase/change of redeemable noncontrolling interests	2	(4)	(13)
Balance, end of period	$ 24	$ 21	$ 28

REVENUES FROM EXTERNAL CUSTOM_3

REVENUES FROM EXTERNAL CUSTOMERS - Disaggregation of Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total	$ 3,515	$ 6,984	$ 1,661
Individual Variable Annuity Products
Disaggregation of Revenue [Line Items]
Total	1,297	2,002	2,562
Employer- Sponsored
Disaggregation of Revenue [Line Items]
Total	453	531	616
Life Insurance Products
Disaggregation of Revenue [Line Items]
Total	1,884	1,930	1,990
Employee Benefit Products
Disaggregation of Revenue [Line Items]
Total	48	54	40
Other
Disaggregation of Revenue [Line Items]
Total	18	24	44
Premiums | Individual Variable Annuity Products
Disaggregation of Revenue [Line Items]
Total	176	123	126
Premiums | Employer- Sponsored
Disaggregation of Revenue [Line Items]
Total	0	0	0
Premiums | Life Insurance Products
Disaggregation of Revenue [Line Items]
Total	530	545	566
Premiums | Employee Benefit Products
Disaggregation of Revenue [Line Items]
Total	46	46	40
Premiums | Other
Disaggregation of Revenue [Line Items]
Total	8	11	18
Fees | Individual Variable Annuity Products
Disaggregation of Revenue [Line Items]
Total	1,003	1,792	2,364
Amortization/capitalization of unearned revenue liability	(38)	(38)	(13)
Fees | Employer- Sponsored
Disaggregation of Revenue [Line Items]
Total	434	506	611
Fees | Life Insurance Products
Disaggregation of Revenue [Line Items]
Total	1,354	1,375	1,417
Fees | Employee Benefit Products
Disaggregation of Revenue [Line Items]
Total	0	0	0
Fees | Other
Disaggregation of Revenue [Line Items]
Total	8	12	16
Others | Individual Variable Annuity Products
Disaggregation of Revenue [Line Items]
Total	118	87	72
Others | Employer- Sponsored
Disaggregation of Revenue [Line Items]
Total	19	25	5
Others | Life Insurance Products
Disaggregation of Revenue [Line Items]
Total	0	10	7
Others | Employee Benefit Products
Disaggregation of Revenue [Line Items]
Total	2	8	0
Others | Other
Disaggregation of Revenue [Line Items]
Total	$ 2	$ 1	$ 10

SCHEDULE I - SUMMARY OF INVES_2

SCHEDULE I - SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES (Details) $ in Millions	Dec. 31, 2023 USD ($)
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	$ 92,647
Fair Value	84,671
Carrying Value	86,080
U.S. Treasury, government and agency
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	5,639
Fair Value	4,539
Carrying Value	4,539
State, municipalities and political subdivisions
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	525
Fair Value	470
Carrying Value	470
Foreign governments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	689
Fair Value	581
Carrying Value	581
Public utilities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	5,836
Fair Value	5,092
Carrying Value	5,092
All other corporate bonds
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	36,178
Fair Value	32,175
Carrying Value	32,175
Residential mortgage-backed
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	1,469
Fair Value	1,344
Carrying Value	1,344
Asset-backed
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	8,092
Fair Value	8,005
Carrying Value	8,005
Commercial mortgage-backed
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	3,400
Fair Value	2,900
Carrying Value	2,900
Redeemable preferred stocks
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	56
Fair Value	59
Carrying Value	59
Fixed maturities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	61,884
Fair Value	55,165
Carrying Value	55,165
Mortgage loans on real estate
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	17,856
Fair Value	16,174
Carrying Value	17,877
Policy loans
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	3,667
Fair Value	3,961
Carrying Value	3,667
Other equity investments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	3,042
Fair Value	3,162
Carrying Value	3,162
Trading securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	246
Fair Value	257
Carrying Value	257
Other invested assets
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	5,952
Fair Value	5,952
Carrying Value	$ 5,952

SCHEDULE IV - REINSURANCE (Deta

SCHEDULE IV - REINSURANCE (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Life insurance in-force
Gross Amount	$ 374,695	$ 379,949	$ 388,520
Ceded to Other Companies	184,482	156,088	164,782
Assumed from Other Companies	30,706	31,337	31,971
Net Amount	$ 220,919	$ 255,197	$ 255,710
Percentage of Amount Assumed to Net	13.90%	12.30%	12.50%
Premiums:
Gross Amount	$ 820	$ 764	$ 762
Ceded to Other Companies	408	219	193
Assumed from Other Companies	175	180	181
Premiums	$ 587	$ 725	$ 750
Percentage of Amount Assumed to Net	29.80%	24.80%	24.10%
Life insurance and annuities
Premiums:
Gross Amount	$ 771	$ 712	$ 709
Ceded to Other Companies	390	200	170
Assumed from Other Companies	167	172	173
Premiums	$ 548	$ 684	$ 712
Percentage of Amount Assumed to Net	30.50%	25.10%	24.30%
Accident and health
Premiums:
Gross Amount	$ 49	$ 52	$ 53
Ceded to Other Companies	18	19	23
Assumed from Other Companies	8	8	8
Premiums	$ 39	$ 41	$ 38
Percentage of Amount Assumed to Net	20.50%	19.50%	21.10%

Uncategorized Items - efl-20231

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2018-12 [Member]