Equitable Financial Life Insurance 10-Q 12 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 09, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,000,000
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Amendment Flag	false
Entity Central Index Key	0000727920
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Jun. 30, 2024	Dec. 31, 2023
Investments:
Fixed maturities available-for-sale, at fair value (amortized cost of $61,707 and $61,884) (allowance for credit losses of $4 and $4)		$ 53,935	$ 55,165
Mortgage loans on real estate (net of allowance for credit losses of $229 and $277)		17,946	17,877
Policy loans		3,742	3,667
Other equity investments	[1]	3,323	3,162
Trading securities, at fair value		756	257
Other invested assets		5,166	5,952
Total investments		84,868	86,080
Cash and cash equivalents		3,838	2,833
Deferred policy acquisition costs		4,722	4,759
Amounts due from reinsurers (allowance for credit losses of $9 and $7)		20,383	20,636
Loans to affiliates		1,900	1,900
Current and deferred income taxes		3,015	2,755
Purchased market risk benefits		14,185	16,729
Other assets		5,263	5,326
Assets for market risk benefits		763	574
Separate Accounts assets		125,406	121,497
Total Assets		264,343	263,089
LIABILITIES
Policyholders’ account balances		84,614	82,990
Liability for market risk benefits		12,568	14,570
Future policy benefits and other policyholders' liabilities		16,474	16,573
Broker-dealer related payables		440	796
Amounts due to reinsurers		179	216
Funds withheld payable		9,747	10,603
Reinsurance deposit liabilities		14,628	14,965
Other liabilities		2,708	2,496
Separate Accounts liabilities		125,406	121,497
Total Liabilities		266,764	264,706
Redeemable noncontrolling interest	[2]	30	24
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		6,893	6,895
Accumulated deficit		(1,604)	(1,600)
Accumulated other comprehensive income (loss)		(7,742)	(6,938)
Total Equity		(2,451)	(1,641)
Total Liabilities, Redeemable Noncontrolling Interest and Equity		$ 264,343	$ 263,089
[1] See Note 2 of the Notes to these Consolidated Financial Statements for details of balances with VIEs. See Note 14 of the Notes to these Consolidated Financial Statements for details of redeemable noncontrolling interest. See Note 15 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	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Amortized cost of fixed maturities available-for-sale	$ 61,707	$ 61,884
Allowance for credit losses of fixed maturities available-for-sale	4	4
Allowance for credit losses of mortgage loans on real estate	229	277
Allowance for credit losses of amounts due from reinsurers	$ 9	$ 7
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		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
REVENUES
Policy charges and fee income		$ 183	$ 183	$ 390	$ 707
Premiums		119	156	252	353
Net derivative gains (losses)		(221)	(221)	(542)	(1,062)
Net investment income (loss)		866	885	1,800	1,743
Investment gains (losses), net:
Credit and intent to sell losses on available for sale debt securities and loans		(14)	(14)	(33)	(78)
Other investment gains (losses), net		(4)	(44)	(23)	(58)
Total investment gains (losses), net		(18)	(58)	(56)	(136)
Investment management and service fees		57	68	113	233
Amortization of reinsurance deposit liabilities		184	159	339	190
Other income		225	213	449	276
Total revenues		1,395	1,385	2,745	2,304
BENEFITS AND OTHER DEDUCTIONS
Policyholders’ benefits		350	335	717	953
Remeasurement of liability for future policy benefits		(2)	(14)	14	(1)
Change in market risk benefits and purchased market risk benefits		27	(92)	38	(68)
Interest credited to policyholders’ account balances		308	312	606	747
Compensation and benefits		46	48	93	103
Commissions		264	225	518	419
Interest expense		0	0	0	3
Amortization of deferred policy acquisition costs		125	123	255	245
Other operating costs and expenses		212	214	500	389
Total benefits and other deductions		1,330	1,151	2,741	2,790
Income (loss) from continuing operations, before income taxes		65	234	4	(486)
Income tax (expense) benefit		(16)	189	(8)	890
Net income (loss)		49	423	(4)	404
Less: Net income (loss) attributable to the noncontrolling interest	[1]	0	1	1	1
Net income (loss) attributable to Equitable Financial		$ 49	$ 422	$ (5)	$ 403
[1] See Note 14 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		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
COMPREHENSIVE INCOME (LOSS)
Net income (loss)		$ 49	$ 423	$ (4)	$ 404
Other comprehensive income (loss), net of income taxes:
Change in unrealized gains (losses), net of adjustments	[1]	(367)	(546)	(802)	963
Change in market risk benefits - instrument-specific credit risk		(161)	(88)	(144)	845
Change in liability for future policy benefits - current discount rate		58	73	141	(36)
Change in defined benefit plan related items not yet recognized in periodic benefit cost, net of reclassification adjustment		0	0	1	0
Other comprehensive income (loss), net of income taxes		(470)	(561)	(804)	1,772
Comprehensive income (loss)		(421)	(138)	(808)	2,176
Less: Comprehensive income (loss) attributable to the noncontrolling interest	[1]	0	1	1	1
Comprehensive income (loss) attributable to Equitable Financial		$ (421)	$ (139)	$ (809)	$ 2,175
[1] See Note 13 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	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning 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	(1,050)		(1,050)
Net income (loss)	403			403
Other comprehensive income (loss)	1,772				1,772
Other	(3)		(3)
Ending balance at Jun. 30, 2023	48	2	7,483	(1,354)	(6,083)
Beginning balance at Mar. 31, 2023	1,228	2	8,524	(1,776)	(5,522)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividend to parent company	(1,050)		(1,050)
Net income (loss)	422			422
Other comprehensive income (loss)	(561)				(561)
Other	9		9	0
Ending balance at Jun. 30, 2023	48	2	7,483	(1,354)	(6,083)
Beginning balance at Dec. 31, 2023	(1,641)	2	6,895	(1,600)	(6,938)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividend to parent company	(4)		(4)
Net income (loss)	(4)			(4)
Other comprehensive income (loss)	(804)				(804)
Other	2		2
Ending balance at Jun. 30, 2024	(2,451)	2	6,893	(1,604)	(7,742)
Beginning balance at Mar. 31, 2024	(2,039)	2	6,884	(1,653)	(7,272)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	49			49
Other comprehensive income (loss)	(470)				(470)
Other	9		9
Ending balance at Jun. 30, 2024	$ (2,451)	$ 2	$ 6,893	$ (1,604)	$ (7,742)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ (4)	$ 404
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Interest credited to policyholders’ account balances	606	747
Policy charges and fee income	(390)	(707)
Net derivative (gains) losses	542	1,062
Credit and intent to sell losses on available for sale debt securities and loans	33	78
Investment (gains) losses, net	23	58
Realized and unrealized (gains) losses on trading securities	(15)	(15)
Non-cash long-term incentive compensation expense	22	19
Amortization and depreciation	78	124
Equity (income) loss from limited partnerships	(86)	(14)
Remeasurement of liability for future policy benefits	14	(1)
Change in market risk benefits	38	(68)
Changes in:
Reinsurance recoverable	638	(1,122)
Capitalization of deferred policy acquisition costs	(257)	(253)
Funds withheld payable	105	(13)
Future policy benefits	250	30
Current and deferred income taxes	(53)	(891)
Other, net	(60)	210
Net cash provided by (used in) operating activities	1,484	(352)
Proceeds from the sale/maturity/prepayment of:
Fixed maturities, available-for-sale	3,150	4,474
Mortgage loans on real estate	456	236
Trading account securities	88	111
Short-term investments	550	949
Other	138	304
Payment for the purchase/origination of:
Fixed maturities, available-for-sale	(2,978)	(2,032)
Mortgage loans on real estate	(578)	(1,114)
Trading account securities	(579)	(126)
Short-term investments	(371)	(1,072)
Other	(159)	(425)
Cash settlements related to derivative instruments, net	(1,106)	(469)
Investment in capitalized software, leasehold improvements and EDP equipment	(51)	(27)
Other, net	(91)	(56)
Net cash provided by (used in) investing activities	(1,531)	753
Policyholders’ account balances:
Deposits	2,864	5,695
Withdrawals	(6,209)	(4,778)
Transfers (to) from Separate Accounts	874	679
Payments of market risk benefits	(13)	(194)
Changes in securities lending payable	36	29
Change in collateralized pledged assets	(77)	(45)
Change in collateralized pledged liabilities	3,568	1,939
Shareholder dividend paid	(4)	(1,050)
Purchase (redemption) of noncontrolling interests of consolidated company-sponsored investment funds	13	3
Other, net	0	(1)
Net cash provided by (used in) financing activities	1,052	2,277
Change in cash and cash equivalents	1,005	2,678
Cash and cash equivalents, beginning of period	2,833	797
Cash and cash equivalents, end of period	3,838	3,475
Non-cash transactions from investing and financing activities:
Right-of-use assets obtained in exchange for lease obligations	4	9
Securities exchanged for other equity investment	$ 110	$ 0

ORGANIZATION

ORGANIZATION	6 Months Ended
	Jun. 30, 2024
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.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The unaudited interim consolidated financial statements (the “consolidated financial statements”) have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP” or “GAAP”) on a basis consistent with reporting interim financial information in accordance with instructions to the Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments necessary for a fair statement of the financial position and results of operations have been made. All such adjustments are of a normal, recurring nature. Interim results are not necessarily indicative of the results that may be expected for the full year. These consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2023. The accompanying unaudited 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 variable interest entities (“VIEs”) that meet the requirements for consolidation. All significant intercompany transactions and balances have been eliminated in consolidation. The terms “second quarter 2024” and “second quarter 2023” refer to the three months ended June 30, 2024 and 2023, respectively. The terms “first six months of 2024” and “first six months of 2023” refer to the six months ended June 30, 2024 and 2023, respectively. Certain prior year amounts have been reclassified to conform to the current year’s presentation. 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. In April 2024, citing litigation challenging the rules that commenced immediately after they were issued, the SEC issued an order staying applicability of the rules while judicial review proceeds. 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. 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 June 30, 2024 and December 31, 2023, 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 June 30, 2024 and December 31, 2023 are total assets of $1.3 billion and $1.1 billion, respectively related to these VIEs. Non-Consolidated VIEs

INVESTMENTS

INVESTMENTS	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 and December 31, 2023 was $535 million and $528 million, respectively. There was no accrued interest written off for AFS fixed maturities for the three and six months ended June 30, 2024 and 2023. 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) June 30, 2024 Fixed Maturities: Corporate (1) $ 42,209 $ 4 $ 157 $ 5,774 $ 36,588 U.S. Treasury, government and agency 5,677 — — 1,356 4,321 States and political subdivisions 432 — 2 71 363 Foreign governments 657 — 1 126 532 Residential mortgage-backed (2) 1,642 — 2 138 1,506 Asset-backed (3) 7,645 — 29 72 7,602 Commercial mortgage-backed 3,389 — 1 425 2,965 Redeemable preferred stock 56 — 2 — 58 Total at June 30, 2024 $ 61,707 $ 4 $ 194 $ 7,962 $ 53,935 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 ______________ (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 June 30, 2024 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 pre-pay obligations with or without call or pre-payment penalties. Contractual Maturities of AFS Fixed Maturities Amortized Cost (Less Allowance for Credit Losses) Fair Value (in millions) June 30, 2024: Contractual maturities: Due in one year or less $ 1,720 $ 1,699 Due in years two through five 12,032 11,534 Due in years six through ten 12,449 11,344 Due after ten years 22,770 17,227 Subtotal 48,971 41,804 Residential mortgage-backed 1,642 1,506 Asset-backed 7,645 7,602 Commercial mortgage-backed 3,389 2,965 Redeemable preferred stock 56 58 Total at June 30, 2024 $ 61,703 $ 53,935 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 Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Proceeds from sales $ 309 $ 2,233 $ 753 $ 2,961 Gross gains on sales $ 2 $ 5 $ 2 $ 7 Gross losses on sales $ (3) $ (46) $ (27) $ (64) Net (increase) decrease in Allowance for Credit and Intent to Sell losses $ (3) $ (7) $ (5) $ (62) 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 Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Balance, beginning of period $ 48 $ 87 $ 48 $ 36 Previously recognized impairments on securities that matured, paid, prepaid or sold (4) (52) (8) (55) Recognized impairments on securities impaired to fair value this period (1) (2) — — — 50 Credit losses recognized this period on securities for which credit losses were not previously recognized 3 6 6 9 Additional credit losses this period on securities previously impaired 3 3 4 4 Balance, end of period $ 50 $ 44 $ 50 $ 44 ______________ (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 six months ended June 30, 2023 represent AFS fixed maturities in an unrealized loss position, which the Company sold in anticipation of the Company’s ordinary dividend to Holdings. The tables below present a roll-forward of net unrealized investment gains (losses) recognized in AOCI: Net Unrealized Gains (Losses) on AFS Fixed Maturities Three Months Ended June 30, 2024 Net Unrealized Gains (Losses) on Investments Policyholders’ Liabilities Deferred Income Tax Asset (Liability) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (in millions) Balance, beginning of period $ (7,274) $ 17 $ 344 $ (6,913) Net investment gains (losses) arising during the period (499) — — (499) Reclassification adjustment: Included in net income (loss) 4 — — 4 Excluded from net income (loss) — — — — Other — — (5) (5) Impact of net unrealized investment gains (losses) — 2 103 105 Net unrealized investment gains (losses) excluding credit losses (7,769) 19 442 (7,308) Net unrealized investment gains (losses) with credit losses 1 — — 1 Balance, end of period $ (7,768) $ 19 $ 442 $ (7,307) Three Months Ended June 30, 2023 Balance, beginning of period $ (7,609) $ 18 $ 422 $ (7,169) Net investment gains (losses) arising during the period (629) — — (629) Reclassification adjustment: Included in net income (loss) 50 — — 50 Excluded from net income (loss) — — — — Other — — (122) (122) Impact of net unrealized investment gains (losses) — (7) 123 116 Net unrealized investment gains (losses) excluding credit losses (8,188) 11 423 (7,754) Net unrealized investment gains (losses) with credit losses 1 — — 1 Balance, end of period $ (8,187) $ 11 $ 423 $ (7,753) Six Months Ended June 30, 2024 Net Unrealized Gains (Losses) on Investments Policyholders’ Liabilities Deferred Income Tax Asset (Liability) (1) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (1) (in millions) Balance, beginning of period $ (6,715) $ 13 $ 227 $ (6,475) Net investment gains (losses) arising during the period (1,080) — — (1,080) Reclassification adjustment: Included in net income (loss) 30 — — 30 Other — — (5) (5) Impact of net unrealized investment gains (losses) — 6 219 225 Six Months Ended June 30, 2024 Net Unrealized Gains (Losses) on Investments Policyholders’ Liabilities Deferred Income Tax Asset (Liability) (1) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (1) (in millions) Net unrealized investment gains (losses) excluding credit losses (7,765) 19 441 (7,305) Net unrealized investment gains (losses) with credit losses (3) — 1 (2) Balance, end of period $ (7,768) $ 19 $ 442 $ (7,307) Six Months Ended June 30, 2023 Balance, beginning of period $ (9,116) $ 21 $ 421 $ (8,674) Net investment gains (losses) arising during the period 815 — — 815 Reclassification adjustment: Included in net income (loss) 120 — — 120 Other — — 195 195 Impact of net unrealized investment gains (losses) — (10) (194) (204) Net unrealized investment gains (losses) excluding credit losses (8,181) 11 422 (7,748) Net unrealized investment gains (losses) with credit losses (6) — 1 (5) Balance, end of period $ (8,187) $ 11 $ 423 $ (7,753) _____________ (1) Certain balances were revised from previously filed financial statements. The following tables disclose the fair values and gross unrealized losses of the 3,993 issues as of June 30, 2024 and the 3,986 issues as of December 31, 2023 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) June 30, 2024 Fixed Maturities: Corporate $ 3,350 $ 120 $ 27,919 $ 5,650 $ 31,269 $ 5,770 U.S. Treasury, government and agency 12 — 4,252 1,356 4,264 1,356 States and political subdivisions 43 — 223 71 266 71 Foreign governments 35 2 474 124 509 126 Residential mortgage-backed 302 2 968 136 1,270 138 Asset-backed 714 2 1,171 70 1,885 72 Commercial mortgage-backed 93 9 2,802 416 2,895 425 Total at June 30, 2024 $ 4,549 $ 135 $ 37,809 $ 7,823 $ 42,358 $ 7,958 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 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 June 30, 2024 and December 31, 2023 were $379 million and $360 million, respectively, representing 15.5% and 21.9% 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 June 30, 2024 and December 31, 2023, respectively, approximately $2.0 billion and $2.5 billion, or 3.3% and 4.1%, of the $61.7 billion and $61.9 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 $101 million and $102 million as of June 30, 2024 and December 31, 2023, respectively. As of June 30, 2024 and December 31, 2023, respectively, the $7.8 billion and $6.8 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 June 30, 2024 or December 31, 2023. As of June 30, 2024 and December 31, 2023, 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 June 30, 2024, 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 June 30, 2024 and December 31, 2023, the estimated fair value of loaned securities was $128 million and $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 June 30, 2024 and December 31, 2023, cash collateral received in the amount of $131 million and $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 June 30, 2024 and 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 June 30, 2024 and December 31, 2023 was $86 million and $81 million, respectively. There was no accrued interest written off for commercial, agricultural and residential mortgage loans for the six months ended June 30, 2024 and 2023. As of June 30, 2024, the Company foreclosed on one commercial mortgage loan that had an amortized cost of $108 million and an associated allowance of $54 million, that it re-acquired as wholly owned real estate with a cost of $56 million. As of June 30, 2024 and December 31, 2023, there were no other mortgage loans for which foreclosure was probable. 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: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Allowance for credit losses on mortgage loans: Commercial mortgages: Balance, beginning of period $ 284 $ 133 $ 270 $ 123 Current-period provision for expected credit losses 9 7 23 17 Write-offs charged against the allowance (75) — (75) — Recoveries of amounts previously written off — — — — Net change in allowance (66) 7 (52) 17 Balance, end of period $ 218 $ 140 $ 218 $ 140 Agricultural mortgages: Balance, beginning of period $ 6 $ 6 $ 6 $ 6 Current-period provision for expected credit losses 3 (1) 3 (1) Write-offs charged against the allowance — — — — Recoveries of amounts previously written off — — — — Net change in allowance 3 (1) 3 (1) Balance, end of period $ 9 $ 5 $ 9 $ 5 Residential mortgages: Balance, beginning of period $ 3 $ — $ 1 $ — 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 period $ 2 $ — $ 2 $ — Total allowance for credit losses $ 229 $ 145 $ 229 $ 145 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) June 30, 2024 Amortized Cost Basis by Origination Year 2024 2023 2022 2021 2020 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% $ — $ 251 $ 140 $ 130 $ 35 $ 1,574 $ — $ — $ 2,130 50% - 70% 73 706 1,326 664 716 2,305 495 206 6,491 70% - 90% — 242 1,276 1,145 515 1,695 77 36 4,986 90% plus — — 467 158 91 833 — — 1,549 Total commercial $ 73 $ 1,199 $ 3,209 $ 2,097 $ 1,357 $ 6,407 $ 572 $ 242 $ 15,156 Agricultural: 0% - 50% $ 23 $ 101 $ 159 $ 188 $ 248 $ 903 $ — $ — $ 1,622 50% - 70% 97 60 140 149 172 306 — — 924 70% - 90% — — — — — 16 — — 16 90% plus — — — — — — — — — Total agricultural $ 120 $ 161 $ 299 $ 337 $ 420 $ 1,225 $ — $ — $ 2,562 Total commercial and agricultural mortgage loans: 0% - 50% $ 23 $ 352 $ 299 $ 318 $ 283 $ 2,477 $ — $ — $ 3,752 50% - 70% 170 766 1,466 813 888 2,611 495 206 7,415 70% - 90% — 242 1,276 1,145 515 1,711 77 36 5,002 90% plus — — 467 158 91 833 — — 1,549 Total commercial and agricultural mortgage loans $ 193 $ 1,360 $ 3,508 $ 2,434 $ 1,777 $ 7,632 $ 572 $ 242 $ 17,718 Debt Service Coverage (“DSC”) Ratios (2) (3) June 30, 2024 Amortized Cost Basis by Origination Year 2024 2023 2022 2021 2020 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 $ 1,222 $ 1,131 $ 3,527 $ — $ — $ 6,748 1.8x to 2.0x — — — 208 166 549 231 206 1,360 1.5x to 1.8x — 141 808 143 — 992 113 — 2,197 1.2x to 1.5x — 463 1,168 429 60 838 — — 2,958 1.0x to 1.2x 73 412 369 61 — 443 228 36 1,622 Less than 1.0x — 8 171 34 — 58 — — 271 Total commercial $ 73 $ 1,199 $ 3,209 $ 2,097 $ 1,357 $ 6,407 $ 572 $ 242 $ 15,156 Agricultural: Greater than 2.0x $ 8 $ 7 $ 42 $ 34 $ 59 $ 182 $ — $ — $ 332 1.8x to 2.0x 11 17 24 55 29 80 — — 216 1.5x to 1.8x 47 12 49 28 110 206 — — 452 1.2x to 1.5x 20 46 105 140 158 428 — — 897 1.0x to 1.2x 23 47 55 69 56 297 — — 547 Less than 1.0x 11 32 24 11 8 32 — — 118 Total agricultural $ 120 $ 161 $ 299 $ 337 $ 420 $ 1,225 $ — $ — $ 2,562 Total commercial and agricultural mortgage loans: Greater than 2.0x $ 8 $ 182 $ 735 $ 1,256 $ 1,190 $ 3,709 $ — $ — $ 7,080 1.8x to 2.0x 11 17 24 263 195 629 231 206 1,576 1.5x to 1.8x 47 153 857 171 110 1,198 113 — 2,649 1.2x to 1.5x 20 509 1,273 569 218 1,266 — — 3,855 1.0x to 1.2x 96 459 424 130 56 740 228 36 2,169 Less than 1.0x 11 40 195 45 8 90 — — 389 Total commercial and agricultural mortgage loans $ 193 $ 1,360 $ 3,508 $ 2,434 $ 1,777 $ 7,632 $ 572 $ 242 $ 17,718 _____________ (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, 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 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 1.5x to 1.8x 80 1,060 234 — 162 924 — — 2,460 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) 1.2x 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. The amortized cost of residential mortgage loans by credit quality indicator and origination year was as follows: June 30, 2024 Amortized Cost Basis by Origination Year 2024 2023 2022 2021 2020 Prior Total (in millions) Performance indicators: Performing $ — $ 263 $ 117 $ 72 $ 2 $ 2 $ 456 Nonperforming — — — — — — — Total $ — $ 263 $ 117 $ 72 $ 2 $ 2 $ 456 December 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Total (in millions) Performance indicators: Performing $ 98 $ 121 $ 74 $ 2 $ 1 $ 2 $ 298 Nonperforming — — — — — — — Total $ 98 $ 121 $ 74 $ 2 $ 1 $ 2 $ 298 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) June 30, 2024: Mortgage loans: Commercial $ — $ — $ — $ — $ 15,123 $ 15,123 $ 33 $ 15,156 $ — $ — Agricultural 16 6 27 49 2,477 2,526 36 2,562 — — Residential — — — — 456 456 — 456 — — Total $ 16 $ 6 $ 27 $ 49 $ 18,056 $ 18,105 $ 69 $ 18,174 $ — $ — 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 _______________ (1) Amounts presented at amortized cost basis. Troubled Debt Restructuring There was one TDR during the three months ended June 30, 2024. The Company granted a modification splitting the commercial mortgage loan into two notes. One note retaining the original loan terms and the second note with an increased interest rate to market terms and required management of excess cash. The loans have an amortized cost of $65.2 million. The impact to Investment income or gains (losses) as a result of this modification for the three months ended June 30, 2024 was not material to the consolidated financial statements. 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 $236 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 consolidated financial statements. For the accounting policy pertaining to our TDRs see Note 2 of the Notes to these Consolidated Financial Statements. The above modifications are performing in accordance with their restructured terms. 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 Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ (5) $ 7 $ 10 $ 6 Net investment gains (losses) recognized on securities sold during the period 2 (2) 1 (2) Unrealized and realized gains (losses) on equity securities $ (3) $ 5 $ 11 $ 4 Trading Securities As of June 30, 2024 and December 31, 2023, respectively, the fair value of the Company’s trading securities was $756 million and $257 million. As of June 30, 2024 and December 31, 2023, respectively, trading securities included the General Account’s investment in Separate Accounts had carrying values of $55 million and $48 million. The breakdown of net investment income (loss) from trading securities was as follows: Net Investment Income (Loss) from Trading Securities Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ — $ 4 $ 15 $ 17 Net investment gains (losses) recognized on securities sold during the period — (1) — (2) Unrealized and realized gains (losses) on trading securities — 3 15 15 Interest and dividend income from trading securities 4 2 5 4 Net investment income (loss) from trading securities $ 4 $ 5 $ 20 $ 19 Net Investment Income The following tables provide the components of net investment income by investment type: Three Months Ended June 30, 2024 2023 Excluding (1) Funds Total Excluding Funds Total (in millions) Fixed maturities $ 386 $ 255 $ 641 $ 416 $ 272 $ 688 Mortgage loans on real estate 145 83 228 111 87 198 Policy loans 46 4 50 49 — 49 Other equity investments 41 4 45 49 (35) 14 Trading securities 4 — 4 5 — 5 Other investment income (23) 11 (12) 6 1 7 Gross investment income (loss) 599 357 956 636 325 961 Investment expenses (58) (32) (90) (46) (30) (76) Net investment income (loss) $ 541 $ 325 $ 866 $ 590 $ 295 $ 885 Six Months Ended June 30, 2024 2023 Excluding Funds Total Excluding (1) Funds Withheld and NI Modco Funds Total (in millions) Fixed maturities $ 777 $ 527 $ 1,304 $ 1,087 $ 272 $ 1,359 Mortgage loans on real estate 287 169 456 288 87 375 Policy loans 94 7 101 97 — 97 Other equity investments 96 12 108 70 (35) 35 Trading securities 20 — 20 19 — 19 Other investment income (29) 16 (13) 12 1 13 Gross investment income (loss) 1,245 731 1,976 1,573 325 1,898 Investment expenses (110) (66) (176) (125) (30) (155) Net investment income (loss) $ 1,135 $ 665 $ 1,800 $ 1,448 $ 295 $ 1,743 _______________ (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 were as follows: Three Months Ended June 30, 2024 2023 Excluding Funds Total Excluding Funds Total (in millions) Fixed maturities $ (3) $ (1) $ (4) $ (15) $ (34) $ (49) Mortgage loans on real estate (12) (1) (13) (5) (2) (7) Other equity investments (1) — — — — — — Other (1) — (1) (2) — (2) Investment gains (losses), net $ (16) $ (2) $ (18) $ (22) $ (36) $ (58) Six Months Ended June 30, 2024 2023 Excluding Funds Total Excluding Funds Total (in millions) Fixed maturities $ (6) $ (24) $ (30) $ (86) $ (34) $ (120) Mortgage loans on real estate (15) (14) (29) (14) (2) (16) Other equity investments — — — — — — Other 3 — 3 — — — Investment gains (losses), net $ (18) $ (38) $ (56) $ (100) $ (36) $ (136) For the three and six months ended June 30, 2024 and 2023, respectively, investment results passed through to certain participating group annuity contracts as interest credited to policyholders’ account balances totaled $0 million $1 million, $0 million and $1 million.

DERIVATIVES

DERIVATIVES	6 Months Ended
	Jun. 30, 2024
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 compared to 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 and GMDB 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 June 30, 2024 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 $ 2,629 $ — $ 99 $ — $ 92 $ — $ 7 Interest swaps 952 — — — 328 — (328) Total: designated for hedge accounting 3,581 — 99 — 420 — (321) June 30, 2024 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: not designated for hedge accounting (1) Equity contracts: Futures 2,349 3,206 — — — — — Swaps 840 14,197 3 51 — 17 37 Options 9,311 44,777 3,091 12,019 728 2,464 11,918 Interest rate contracts: Futures 1,533 6,164 — — — — — Swaps 526 2,055 1 17 4 16 (2) Credit contracts: Credit default swaps 102 — — — 1 — (1) Currency contracts: Currency swaps 803 — 3 — 4 — (1) Other freestanding contracts: Margin — — 99 204 — — 303 Collateral — — 113 — 11,711 — (11,598) Total: Not designated for hedge accounting 15,464 70,399 3,310 12,291 12,448 2,497 656 Embedded derivatives: SCS, SIO, MSO and IUL indexed features (2) (5) — — 8,960 — 11,756 — (2,796) Funds withheld payable (3) — — — — (87) — 87 Modco payable (4) — — (183) — — — (183) Total embedded derivatives — — 8,777 — 11,669 — (2,892) Total derivative instruments $ 19,045 $ 70,399 $ 12,186 $ 12,291 $ 24,537 $ 2,497 $ (2,557) ______________ (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 to reinsurers. (5) SCS embedded derivative asset is recorded as a modco receivable. This is presented net in the consolidated balance sheets. 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) 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. The following table presents the effects of derivative instruments on the consolidated statements of income and comprehensive income (loss): Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 Net Net-FWH and NI modco Net Interest AOCI Net Net-FWH and NI modco Net Interest AOCI (in millions) Derivative instruments: Derivatives: designated for hedge accounting Cash flow hedges: Currency/Interest rate contracts: Currency swaps $ — $ — $ 4 $ (5) $ 22 $ 1 $ — $ 7 $ (23) $ 38 Interest swaps — — (17) — 13 — — (14) — 6 Total: designated for hedge accounting — — (13) (5) 35 1 — (7) (23) 44 Derivatives: not designated for hedge accounting Equity contracts: Futures 15 (33) — — — 115 (46) — — — Swaps (10) (87) — — — (158) (1,050) — — — Options 217 770 — — — 656 2,732 — — — Interest rate contracts: Futures (18) 35 — — — (55) 85 — — — Swaps (15) (74) — — — (43) (210) — — — Swaptions — — — — — — — — — — Credit contracts: Credit default swaps — — — — — — — — — — Currency contracts: Currency swaps 1 — — — — 14 — — — — Other contracts: Margin — — — — — — — — — — Collateral — — — — — — — — — — Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 Net Net-FWH and NI modco Net Interest AOCI Net Net-FWH and NI modco Net Interest AOCI (in millions) Total: not designated for hedge accounting 190 611 — — — 529 1,511 — — — Embedded derivatives: SCS, SIO, MSO and IUL indexed features (255) — — — — (854) — — — — Funds withheld payable 89 — — — — 1,106 — — — — Modco payable (850) — — — — (2,822) — — — — Total embedded derivatives (1,016) — — — — (2,570) — — — — Total derivatives $ (826) $ 611 $ (13) $ (5) $ 35 $ (2,040) $ 1,511 $ (7) $ (23) $ 44 ______________ (1) Reported in net derivative gains (losses) in the consolidated statements of income (loss). (2) Investment fees of $6 million and $11 million for the three and six months ended June 30, 2024, respectively, are reported in net derivative gains (losses) in the consolidated statements of income (loss). Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Net Net-FWH and NI modco Net Interest Credited To Policyholders Account Balances AOCI Net Net-FWH and NI modco Net Investment Income Interest Credited To Policyholders Account Balances AOCI (in millions) Derivatives: Designated for hedge accounting Cash flow hedges: Currency Swaps $ 2 $ — $ 2 $ 8 $ 3 $ 10 $ — $ 5 $ (26) $ 28 Interest Swaps (16) — — — 30 (21) — — — 2 Total: Designated for hedge accounting (14) 2 8 33 (11) 5 (26) 30 Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Net Net-FWH and NI modco Net Interest Credited To Policyholders Account Balances AOCI Net Net-FWH and NI modco Net Investment Income Interest Credited To Policyholders Account Balances AOCI (in millions) Derivatives: Not designated for hedge accounting Equity contracts: Futures 58 (158) — — — (96) (158) — — — Swaps (113) (591) — — — (716) (591) — — — Options 361 2,032 — — — 1,858 2,032 — — — Interest rate contracts: Futures (19) 76 — — — (62) 76 — — — Swaps (61) 5 — — — (14) 5 — — — Credit contracts: Credit default swaps — — — — — — — — — — Currency contracts: Currency swaps (9) — — — — (19) — — — — Currency forwards — — — — — — — — — — Other contracts: Margin — — — — — — — — — — Collateral — — — — — — — — — — Total: Not designated for hedge accounting 217 1,364 — — — 951 1,364 — — — Embedded Derivatives: SCS, SIO, MSO and IUL indexed features (453) — — — — (2,027) — — — — Funds withheld payable 599 — — — — 599 — — — — Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Net Net-FWH and NI modco Net Interest Credited To Policyholders Account Balances AOCI Net Net-FWH and NI modco Net Investment Income Interest Credited To Policyholders Account Balances AOCI (in millions) Modco payable (1,930) — — — — (1,930) — — — — Total Embedded Derivatives (1,784) — — — — (3,358) — — — — Total derivatives instruments $ (1,581) $ 1,364 $ 2 $ 8 $ 33 $ (2,418) $ 1,364 $ 5 $ (26) $ 30 ______________ (1) Reported in net derivative gains (losses) in the consolidated statements of income (loss). (2) Investment fees of $4 million and $8 million for the three and six months ended June 30, 2023 , 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 Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Balance, beginning of period $ (21) $ 19 $ (31) $ 22 Amount recorded in AOCI Currency swaps 19 13 19 6 Interest swaps (9) 10 (17) (27) Total amount recorded in AOCI 10 23 2 (21) Amount reclassified (to) from income to AOCI Currency swaps (1) 3 (10) 20 22 Interest swaps (1) 21 20 22 29 Total amount reclassified (to) from income to AOCI 24 10 42 51 Balance, end of period (2) $ 13 $ 52 $ 13 $ 52 ______________ (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 three and six months ended June 30, 2024 and 2023 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 June 30, 2024 and December 31, 2023 are exchange-traded and net settled daily in cash. As of June 30, 2024 and December 31, 2023, 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 $231 million and $248 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 $92 million and $100 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 $13 million and $14 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 June 30, 2024 and December 31, 2023, respectively, the Company held $11.7 billion and $8.3 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 $113 million and $75 million as of June 30, 2024 and December 31, 2023, 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 June 30, 2024 and December 31, 2023 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 June 30, 2024 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 $ 15,700 $ 12,268 $ 3,432 $ (2,944) $ 488 Secured lending 131 — 131 — 131 Other financial assets 1,603 — 1,603 — 1,603 Other invested assets $ 17,434 $ 12,268 $ 5,166 $ (2,944) $ 2,222 Liabilities: Derivative liabilities $ 12,422 $ 12,268 $ 154 $ — $ 154 Secured lending 131 — 131 — 131 Other financial liabilities 2,423 — 2,423 — 2,423 Other liabilities $ 14,976 $ 12,268 $ 2,708 $ — $ 2,708 ______________ (1) Financial instruments sent (held). 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).

CLOSED BLOCK

CLOSED BLOCK	6 Months Ended
	Jun. 30, 2024
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 insure 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 New York State Department of Financial Services (the “NYDFS”). Closed Block assets and liabilities are carried on the same basis as similar assets and liabilities held in the General Account. For more information on the Closed Block, see Note 5 to the Company’s consolidated financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2023. Summarized financial information for the Company’s Closed Block is as follows: June 30, 2024 December 31, 2023 (in millions) Closed Block Liabilities: Future policy benefits, policyholders’ account balances and other $ 5,326 $ 5,461 Other liabilities 55 57 Total Closed Block liabilities 5,381 5,518 Assets Designated to the Closed Block: Fixed maturities AFS, at fair value (amortized cost of $2,924 and $2,945) (allowance for credit losses of $0 and $0) 2,752 2,800 Mortgage loans on real estate (net of allowance for credit losses of $14 and $13) 1,544 1,612 Policy loans 538 554 Cash and other invested assets 10 58 Other assets 185 150 Total assets designated to the Closed Block 5,029 5,174 Excess of Closed Block liabilities over assets designated to the Closed Block 352 344 Amounts included in AOCI: Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $0 and $0; and net of income tax: $36 and $31 (136) (115) Maximum future earnings to be recognized from Closed Block assets and liabilities $ 216 $ 229 The Company’s Closed Block revenues and expenses were as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Revenues: Premiums and other income $ 26 $ 29 $ 55 $ 59 Net investment income (loss) 51 52 103 103 Investment gains (losses), net — — (1) — Total revenues 77 81 157 162 Benefits and Other Deductions: Policyholders’ benefits and dividends 64 75 141 158 Other operating costs and expenses — — — — Total benefits and other deductions 64 75 141 158 Net income (loss), before income taxes 13 6 16 4 Income tax (expense) benefit (2) (1) (3) (2) Net income (loss) $ 11 $ 5 $ 13 $ 2

DAC AND OTHER DEFERRED ASSETS_L

DAC AND OTHER DEFERRED ASSETS/LIABILITIES	6 Months Ended
	Jun. 30, 2024
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: June 30, 2024 December 31, 2023 (in millions) Term $ 326 $ 338 UL 25 22 VUL 217 182 GMxB Core 1,432 1,483 EQUI-VEST Individual 147 150 Investment Edge 150 150 SCS 1,278 1,282 GMxB Legacy 205 208 EQUI-VEST Group 725 723 Momentum 85 82 Closed Block 112 117 Other 20 22 Total $ 4,722 $ 4,759 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. Changes in the DAC asset were as follows: Six Months Ended June 30, 2024 Term UL VUL GMxB Core EI IE SCS GMxB Legacy EG Momentum CB (1) Total (in millions) Balance, beginning of period $ 338 $ 22 $ 182 $ 1,483 $ 150 $ 150 $ 1,282 $ 208 $ 723 $ 82 $ 117 $ 4,737 Capitalization (2) 7 4 40 28 6 10 110 14 32 5 — 256 Amortization (3) (19) (1) (5) (69) (6) (7) (106) (12) (21) (2) (5) (253) Recovery of acquisition cost (4) — — — (10) (3) (3) (8) (5) (9) — — (38) Balance, end of period $ 326 $ 25 $ 217 $ 1,432 $ 147 $ 150 $ 1,278 $ 205 $ 725 $ 85 $ 112 $ 4,702 ______________ (1) “CB” defined as Closed Block. (2) DAC capitalization of $1 million related to Other not reflected in table above. (3) DAC amortization of $2 million related to Other not reflected in table above. (4) Related to the Internal Reinsurance Transaction and is recorded in other income. Six Months Ended June 30, 2023 Term UL VUL GMxB Core EI IE SCS GMxB Legacy EG Momentum CB Total (in millions) Balance, beginning of period $ 362 $ 20 $ 112 $ 1,585 $ 156 $ 147 $ 1,266 $ 213 $ 711 $ 89 $ 127 $ 4,788 Capitalization 7 2 36 26 5 12 113 14 33 5 — 253 Amortization (19) (1) (4) (68) (6) (7) (92) (12) (21) (8) (5) (243) Recovery of acquisition cost — — — (6) (2) (1) (4) (2) (6) — — (21) Balance, end of period $ 350 $ 21 $ 144 $ 1,537 $ 153 $ 151 $ 1,283 $ 213 $ 717 $ 86 $ 122 $ 4,777 Changes in the sales inducement assets were as follows: Six Months Ended June 30, 2024 2023 GMxB Core GMxB Legacy GMxB Core GMxB Legacy (in millions) Balance, beginning of period $ 126 $ 179 $ 137 $ 200 Capitalization — — — — Amortization (6) (10) (6) (10) Balance, end of period $ 120 $ 169 $ 131 $ 190 Changes in the unearned revenue liability were as follows: Six Months Ended June 30, 2024 2023 UL VUL UL VUL (in millions) Balance, beginning of period $ 105 $ 551 $ 95 $ 525 Capitalization 8 34 9 29 Amortization (4) (17) (3) (17) Recovery of unearned revenue (1) — (1) — Balance, end of period $ 108 $ 568 $ 100 $ 537

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 and December 31, 2023, 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 June 30, 2024 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments: Fixed maturities, AFS: Corporate (1) $ — $ 34,548 $ 2,040 $ 36,588 U.S. Treasury, government and agency — 4,321 — 4,321 States and political subdivisions — 363 — 363 Foreign governments — 532 — 532 Residential mortgage-backed (2) — 1,506 — 1,506 Asset-backed (3) — 7,575 27 7,602 Commercial mortgage-backed — 2,959 6 2,965 Redeemable preferred stock — 58 — 58 Total fixed maturities, AFS — 51,862 2,073 53,935 Other equity investments 143 391 52 586 Trading securities 221 535 — 756 Other invested assets: Short-term investments — 246 — 246 Assets of consolidated VIEs/VOEs — — 3 3 Swaps — (286) — (286) Credit default swaps — (1) — (1) Options — 11,918 — 11,918 Total other invested assets — 11,877 3 11,880 Cash equivalents 3,033 296 — 3,329 Purchased market risk benefits — — 14,185 14,185 Assets for market risk benefits — — 763 763 Separate Accounts assets (4) 122,256 2,599 — 124,855 Modco payable (5) — — (183) (183) SCS, SIO, MSO and IUL indexed features’ asset — 8,960 — 8,960 Total Assets $ 125,653 $ 76,520 $ 16,893 $ 219,066 Liabilities: SCS, SIO, MSO and IUL indexed features’ liability (6) — 11,756 — 11,756 Liabilities for market risk benefits — — 12,568 12,568 Funds withheld payable (7) — — (87) (87) Total Liabilities $ — $ 11,756 $ 12,481 $ 24,237 ______________ (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 June 30, 2024 the fair value of such investments was $338 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, 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) 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. 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 pre-payment, 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 $1.0 billion and $1.3 billion as of June 30, 2024 and December 31, 2023, 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 six months ended June 30, 2024, fixed maturities with fair values of $88 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 $57 million were transferred from Level 2 into the Level 3 classification. These transfers in the aggregate represent approximately 5.9% of total consolidated equity as of June 30, 2024. During the six months ended June 30, 2023, fixed maturities with fair values of $301 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 650.0% of total consolidated equity as of June 30, 2023. 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. Level 3 Instruments - Fair Value Measurements Three Months Ended June 30, 2024 Corporate State and Political Subdivisions Asset-backed CMBS (in millions) Balance, beginning of period $ 2,238 $ — $ 33 $ 6 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 2 — — — Investment gains (losses), net (1) — — — Subtotal 1 — — — Other comprehensive income (loss) — — — — Purchases 124 — (6) — Sales (323) — — — Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) — — — — Transfers out of Level 3 (1) — — — — Balance, end of period $ 2,040 $ — $ 27 $ 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) $ — $ — $ — $ — _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of June 30, 2024 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. Three Months Ended June 30, 2024 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable (4) (in millions) Balance, beginning of period $ 58 $ 1 $ (29) $ (292) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income — — — — Net derivative gains (losses) — — — — Total realized and unrealized gains (losses) — — — — Other comprehensive income (loss) — — — — Purchases (42) (1) — — Sales 39 — — — Change in fair value of funds withheld assets — — (58) 109 Other — — — — Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) — — — — Transfers out of Level 3 (1) — — — — Balance, end of period $ 55 $ — $ (87) $ (183) Three Months Ended June 30, 2024 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable (4) (in millions) 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) $ — $ — $ — $ — ______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of June 30, 2024, 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. (4) Reflected in Amounts due from reinsurers. Three Months Ended June 30, 2023 Corporate State and Political Subdivisions Asset-backed CMBS (in millions) Balance, beginning of period $ 1,914 $ 28 $ 12 $ 34 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 2 — — — Investment gains (losses), net (8) — — — Subtotal (6) — — — Other comprehensive income (loss) (8) 1 — — Purchases 180 — (12) — Sales (72) (2) — — Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) 11 — — — Transfers out of Level 3 (1) (43) — — — Balance, end of period $ 1,976 $ 27 $ — $ 34 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) $ (8) $ 1 $ — $ — _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of June 30, 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. Three Months Ended June 30, 2023 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable (in millions) Balance, beginning of period $ 14 $ 1 $ — $ — Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income — — — — Net derivative gains (losses) — — (136) 166 Total realized and unrealized gains (losses) — — (136) 166 Other comprehensive income (loss) — — — — Purchases 44 — — — Sales — — — — Other — — — — Activity related to consolidated VIEs/VOEs 47 — — — Transfers into Level 3 (1) — — — — Transfers out of Level 3 (1) — — — — Balance, end of period $ 105 $ 1 $ (136) $ 166 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) $ — $ — $ — $ — ______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of June 30, 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. Six Months Ended June 30, 2024 Corporate State and Political Subdivisions Asset-backed CMBS (in millions) Balance, beginning of period $ 2,070 $ 27 $ 24 $ 6 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 4 — — — Investment gains (losses), net (2) — — — Subtotal 2 — — — Other comprehensive income (loss) 10 — — — Purchases 325 — 17 — Sales (377) — — — Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) 57 — — — Transfers out of Level 3 (1) (47) (27) (14) — Balance, end of period $ 2,040 $ — $ 27 $ 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) $ 10 $ — $ — $ — _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of June 30, 2024 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. Six Months Ended June 30, 2024 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable (in millions) Balance, beginning of period $ 57 $ — $ 100 $ (411) Realized and unrealized gains (losses), included in Net income (loss) as: 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 — — — — Sales (3) — — — Change in fair value of funds withheld assets — — (187) 228 Other — — — — Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) — — — — Transfers out of Level 3 (1) — — — — Balance, end of period $ 55 $ — $ (87) $ (183) Six Months Ended June 30, 2024 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) $ — $ — $ — $ — 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 June 30, 2024, amounts are included in net investment income

LIABILITIES FOR FUTURE POLICYHO

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS	6 Months Ended
	Jun. 30, 2024
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: June 30, 2024 December 31, 2023 (in millions) Reconciliation Term $ 1,291 $ 1,341 Payout - Non-Legacy 802 844 Payout - Legacy 3,900 3,620 Group Pension - Benefit Reserve & DPL 457 490 Health 1,414 1,505 UL 1,241 1,220 Subtotal 9,105 9,020 Whole Life Closed Block and Open Block products 5,318 5,463 Other (1) 603 657 Future policyholder benefits total 15,026 15,140 Other policyholder funds and dividends payable 1,448 1,433 Total $ 16,474 $ 16,573 ______________ (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: Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 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 period $ 2,125 $ — $ — $ — $ (21) $ 2,090 $ — $ — $ — $ (6) Beginning balance at original discount rate 2,051 — — — (22) 2,069 — — — (6) Effect of changes in cash flow assumptions (18) — — — (3) 8 — — — — Effect of actual variances from expected experience (52) — — — 1 4 — — — (6) Adjusted beginning of period balance 1,981 — — — (24) 2,081 — — — (12) Issuances 26 — — — — 32 — — — — Interest accrual 49 — — — — 50 — — — — Net premiums collected (94) — — — 2 (99) — — — 1 Ending Balance at original discount rate 1,962 — — — (22) 2,064 — — — (11) Effect of changes in discount rate assumptions (21) — — — 1 35 — — — — Balance, end of period $ 1,941 $ — $ — $ — $ (21) $ 2,099 $ — $ — $ — $ (11) Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Term Payout - Non-Legacy Payout-Legacy Group Pension Health Term Payout-Non-Legacy Payout-Legacy Group Pension Health (in millions) Present Value of Expected Future Policy Benefits Balance, beginning of period $ 3,466 $ 844 $ 3,620 $ 490 $ 1,484 $ 3,449 $ 828 $ 2,689 $ 523 $ 1,554 Beginning balance of original discount rate 3,317 840 3,840 536 1,672 3,376 845 3,024 583 1,795 Effect of changes in cash flow assumptions (20) — — — — 9 — — — (1) Effect of actual variances from expected experience (65) (2) — 1 6 6 — — — (6) Adjusted beginning of period balance 3,232 838 3,840 537 1,678 3,391 845 3,024 583 1,788 Issuances 28 22 500 — — 34 26 474 — — Interest accrual 82 20 69 9 27 84 19 44 10 29 Benefits payments (115) (47) (181) (31) (79) (182) (46) (132) (34) (71) Ending balance at original discount rate 3,227 833 4,228 515 1,626 3,327 844 3,410 559 1,746 Effect of changes in discount rate assumptions 5 (31) (328) (58) (234) 90 (10) (309) (56) (224) Balance, end of period $ 3,232 $ 802 $ 3,900 $ 457 $ 1,392 $ 3,417 $ 834 $ 3,101 $ 503 $ 1,522 Net liability for future policy benefits $ 1,291 $ 802 $ 3,900 $ 457 $ 1,414 $ 1,318 $ 834 $ 3,101 $ 503 $ 1,533 Less: Reinsurance recoverable (207) (44) (1,698) — (1,116) (199) (9) (797) — (1,217) Net liability for future policy benefits, after reinsurance recoverable $ 1,084 $ 758 $ 2,202 $ 457 $ 298 $ 1,119 $ 825 $ 2,304 $ 503 $ 316 Weighted-average duration of liability for future policyholder benefits (years) 6.9 9.3 7.5 7.0 8.6 7.0 9.4 7.8 7.1 8.8 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: June 30, 2024 December 31, 2023 (in millions) Term Expected future benefit payments and expenses (undiscounted) $ 5,677 $ 5,860 Expected future gross premiums (undiscounted) 6,802 6,956 Expected future benefit payments and expenses (discounted) 3,232 3,466 Expected future gross premiums (discounted) 3,613 3,862 June 30, 2024 December 31, 2023 (in millions) Payout-Legacy Expected future benefit payments and expenses (undiscounted) 5,798 5,204 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 3,820 3,538 Expected future gross premiums (discounted) — — Payout-Non-Legacy Expected future benefit payments and expenses (undiscounted) 1,404 1,426 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 767 812 Expected future gross premiums (discounted) — — Group Pension Expected future benefit payments and expenses (undiscounted) 640 668 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 439 471 Expected future gross premiums (discounted) — — Health Expected future benefit payments and expenses (undiscounted) 2,246 2,318 Expected future gross premiums (undiscounted) 78 85 Expected future benefit payments and expenses (discounted) 1,378 1,468 Expected future gross premiums (discounted) $ 61 $ 68 The table below summarizes the revenue and interest related to nonparticipating traditional and limited payment contracts: Six Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Gross Premium Interest Accretion (in millions) Revenue and Interest Accretion Term $ 170 $ 117 $ 33 $ 34 Payout - Legacy 109 45 79 44 Payout - Non-Legacy 18 16 20 19 Group Pension — — 9 10 Health 6 4 28 29 Total $ 303 $ 182 $ 169 $ 136 The following table provides the weighted average interest rates for the liability for future policy benefits: June 30, 2024 December 31, 2023 Weighted Average Interest Rate Term Interest accretion rate 5.6 % 5.6 % Current discount rate 5.3 % 4.8 % Payout - Legacy Interest accretion rate 4.1 % 4.0 % Current discount rate 5.3 % 4.9 % Payout - Non-Legacy Interest accretion rate 5.0 % 5.0 % Current discount rate 5.4 % 4.9 % Group Pension Interest accretion rate 3.3 % 3.3 % Current discount rate 5.3 % 4.8 % Health Interest accretion rate 3.4 % 3.4 % Current discount rate 5.4 % 4.9 % The following table provides the balance, changes in and the weighted average durations of the additional insurance liabilities: Six Months Ended June 30, 2024 2023 UL (Dollars in millions) Balance, beginning of period $ 1,220 $ 1,120 Beginning balance before AOCI adjustments 1,230 1,135 Effect of changes in interest rate and cash flow assumptions and model changes — — Effect of actual variances from expected (2) 4 Adjusted beginning of period balance 1,228 1,139 Interest accrual 27 25 Net assessments collected 35 36 Benefit payments (35) (30) Ending balance before shadow reserve adjustments 1,255 1,170 Effect of reserve adjustment recorded in AOCI (14) (8) Balance, end of period $ 1,241 $ 1,162 Net liability for additional liability $ 1,241 $ 1,162 Less: Reinsurance recoverable (959) (901) Net liability for additional liability, after reinsurance recoverable $ 282 $ 261 Weighted-average duration of additional liability - death benefit (years) 19.5 21.4 The following tables provide the revenue, interest and weighted average interest rates, related to the additional insurance liabilities: Six Months Ended June 30, 2024 2023 2024 2023 Assessments Interest Accretion (in millions) Revenue and Interest Accretion UL $ 338 $ 350 $ 27 $ 25 Total $ 338 $ 350 $ 27 $ 25 Six Months Ended June 30, 2024 2023 Weighted Average Interest Rate UL 4.5 % 4.5 % Interest accretion rate 4.5 % 4.5 % Prescribed and Permitted Accounting Practices As of June 30, 2024, 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 $60 million in statutory special surplus funds as of June 30, 2024. 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 $333 million in statutory surplus as of June 30, 2024 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 June 30, 2024, given the prevailing market conditions and business mix, there are $323 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 $1.4 billion in statutory surplus as of June 30, 2024.

MARKET RISK BENEFITS

MARKET RISK BENEFITS	6 Months Ended
	Jun. 30, 2024
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: Three Months Ended June 30, 2024 GMxB Core Purchased MRB Core Net GMxB Core GMxB Legacy Purchased MRB Legacy Net GMxB Legacy (Dollars in millions) Balance, beginning of period $ 328 $ (900) $ (572) $ 11,701 $ (13,783) $ (2,082) Beginning balance before changes in the instrument specific credit risk 97 (992) (895) 11,326 (13,819) (2,493) Model changes and effect of changes in cash flow assumptions — — — — — — Actual market movement effect (3) (2) (5) 45 (10) 35 Interest accrual 15 (5) 10 153 (163) (10) Attributed fees accrued (1) 107 (95) 12 198 (146) 52 Benefit payments (11) 11 — (311) 304 (7) Actual policyholder behavior different from expected behavior 6 (1) 5 — (5) (5) Changes in future economic assumptions (60) 53 (7) (514) 537 23 Issuances — 1 1 — — — Ending balance before changes in the instrument-specific credit risk 151 (1,030) (879) 10,897 (13,302) (2,405) Changes in the instrument-specific credit risk (2) 268 98 366 520 48 568 Balance, end of period $ 419 $ (932) $ (513) $ 11,417 $ (13,254) $ (1,837) Weighted-average age of policyholders (years) 65.0 65.4 N/A 73.3 73.7 N/A Net amount at risk $ 2,866 $ 2,834 N/A $ 19,710 $ 19,397 N/A _______________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Changes are recorded in OCI. Three Months Ended June 30, 2023 GMxB Core Purchased MRB Core Net GMxB Core GMxB Legacy Purchased MRB Legacy Net GMxB Legacy (Dollars in millions) Balance, beginning of period $ 333 $ — $ 333 $ 14,082 $ (10,746) $ 3,336 Beginning balance before changes in the instrument specific credit risk 560 — 560 15,599 (10,648) 4,952 Model changes and effect of changes in cash flow assumptions — — — — — — Actual market movement effect (116) 105 (11) (637) 585 (52) Interest accrual 19 (9) 10 195 (202) (7) Attributed fees accrued (1) 110 (99) 11 208 (155) 53 Benefit payments (12) 12 — (345) 338 (7) Actual policyholder behavior different from expected behavior 3 (4) (1) (6) (3) (9) Changes in future economic assumptions (193) 217 24 (872) 822 (50) Issuances (1) (1,294) (1,295) — (6,865) (6,866) Ending balance before changes in the instrument-specific credit risk 370 (1,072) (702) 14,142 (16,128) (1,986) Changes in the instrument-specific credit risk (2) (215) 1 (214) (1,422) (95) (1,517) Balance, end of period $ 155 $ (1,071) $ (916) $ 12,720 $ (16,223) $ (3,503) Weighted-average age of policyholders (years) 64.0 64.4 N/A 72.8 73.0 N/A Net amount at risk $ 3,159 $ 3,072 N/A $ 22,195 $ 21,728 N/A _______________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Changes are recorded in OCI. Six Months Ended June 30, 2024 GMxB Core Purchased MRB Core Net GMxB Core GMxB Legacy Purchased MRB Legacy (4) Net GMxB Legacy (Dollars in millions) Balance, beginning of period $ 578 $ (1,180) $ (602) $ 13,410 $ (15,519) $ (2,109) Beginning balance before changes in the instrument specific credit risk 324 (1,266) (942) 13,020 (15,543) (2,523) Model changes and effect of changes in cash flow assumptions — — — — 1 1 Actual market movement effect (154) 145 (9) (743) 736 (7) Interest accrual 30 (9) 21 314 (331) (17) Attributed fees accrued (1) 199 (178) 21 398 (300) 98 Benefit payments (21) 21 — (632) 618 (14) Actual policyholder behavior different from expected behavior 9 — 9 (23) 8 (15) Changes in future economic assumptions (236) 256 20 (1,437) 1,509 72 Issuances (2) — 1 1 — — — Ending balance before changes in the instrument-specific credit risk 151 (1,030) (879) 10,897 (13,302) (2,405) Changes in the instrument-specific credit risk (3) 268 98 366 520 48 568 Balance, end of period $ 419 $ (932) $ (513) $ 11,417 $ (13,254) $ (1,837) Weighted-average age of policyholders (years) 65.0 65.4 N/A 73.3 73.7 N/A Net amount at risk $ 2,866 $ 2,834 N/A $ 19,710 $ 19,397 N/A _______________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Issuances are from a non-affiliated recapture of reinsurance.. (3) Changes are recorded in OCI. (4) Purchased MRB is the impact of non-affiliated reinsurance and affiliated reinsurance with Equitable America. Six Months Ended June 30, 2023 GMxB Core Purchased MRB Core Net GMxB Core GMxB Legacy Purchased MRB Legacy (3) Net GMxB Legacy (Dollars in millions) Balance, beginning of period $ 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 — — — — — — Actual market movement effect (322) 105 (217) (1,381) 978 (403) Interest accrual 37 (9) 28 392 (358) 34 Attributed fees accrued (1) 204 (99) 105 418 (238) 180 Benefit payments (24) 12 (12) (687) 523 (164) Actual policyholder behavior different from expected behavior 8 (4) 4 15 (20) (5) Changes in future economic assumptions (70) 217 147 71 290 361 Issuances (1) (1,294) (1,295) — (6,865) (6,865) Ending balance before changes in the instrument-specific credit risk 370 (1,072) (702) 14,142 (16,128) (1,986) Changes in the instrument-specific credit risk (2) (215) 1 (214) (1,422) (95) (1,517) Balance, end of period $ 155 $ (1,071) $ (916) $ 12,720 $ (16,223) $ (3,503) Weighted-average age of policyholders (years) 64.0 64.4 N/A 72.8 73.0 N/A Net amount at risk (4) $ 3,159 $ 3,072 N/A $ 22,195 $ 21,728 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. (4) 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: June 30, 2024 December 31, 2023 MRB Asset MRB Liability Net MRB Purchased MRB Total MRB Asset MRB Liability Net MRB Purchased MRB Total (in millions) GMxB Core $ (497) $ 916 $ 419 $ (932) $ (513) $ (410) $ 988 $ 578 $ (1,180) $ (602) GMxB Legacy (180) 11,597 11,417 (13,254) (1,837) (103) 13,513 13,410 (15,519) (2,109) Other (86) 55 (31) 1 (30) (61) 69 8 (30) (22) Total $ (763) $ 12,568 $ 11,805 $ (14,185) $ (2,380) $ (574) $ 14,570 $ 13,996 $ (16,729) $ (2,733)

POLICYHOLDER ACCOUNT BALANCES

POLICYHOLDER ACCOUNT BALANCES	6 Months Ended
	Jun. 30, 2024
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: June 30, 2024 December 31, 2023 (in millions) Policyholders’ account balance reconciliation UL $ 5,129 $ 5,202 VUL 4,165 4,145 GMxB Legacy 595 618 GMxB Core (8) (5) SCS 43,344 40,649 EQUI-VEST Individual 2,182 2,322 EQUI-VEST Group 11,369 11,563 Momentum 575 608 Other (1) 3,552 2,995 Balance (exclusive of Funding Agreements) 70,903 68,097 Funding Agreements 13,711 14,893 Balance, end of period $ 84,614 $ 82,990 _______________ (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: Six Months Ended June 30, 2024 Universal Life Variable Universal Life GMxB Legacy GMxB Core SCS (1) EQUI-VEST Individual EQUI-VEST Group Momentum (Dollars in millions) Balance, beginning of period $ 5,202 $ 4,145 $ 618 $ (5) $ 40,649 $ 2,322 $ 11,563 $ 608 Issuances — — — — — — — — Premiums received 327 52 36 23 8 15 305 37 Policy charges (359) (109) 18 7 (5) — (3) — Surrenders and withdrawals (45) (23) (43) (18) (1,824) (168) (806) (69) Benefit payments (106) (52) (49) (1) (132) (27) (35) (1) Net transfers from (to) separate account — 59 3 (17) 1,009 7 170 (7) Interest credited (2) 110 93 12 3 3,639 33 175 7 Other — — — — — — — — Balance, end of period $ 5,129 $ 4,165 $ 595 $ (8) $ 43,344 $ 2,182 $ 11,369 $ 575 Weighted-average crediting rate 3.80 % 3.75 % 2.74 % 1.38 % N/A 2.98 % 2.67 % 2.32 % Net amount at risk (3) $ 34,364 $ 82,517 $ 19,710 $ 2,866 $ — $ 104 $ 9 $ — Cash surrender value $ 3,393 $ 2,617 $ 531 $ 205 $ 40,408 $ 2,176 $ 11,313 $ 576 Six Months Ended June 30, 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 period $ 5,341 $ 4,253 $ 688 $ 42 $ 35,460 $ 2,652 $ 12,046 $ 703 Issuances — — — — — — — — Premiums received 358 64 41 26 — 19 317 35 Policy charges (384) (109) 20 8 (3) — (3) — Surrenders and withdrawals (38) (22) (47) (16) (1,319) (178) (820) (71) Benefit payments (128) (58) (51) (1) (121) (40) (35) (4) Net transfers from (to) separate account — (89) 2 (38) 1,591 4 144 (12) Interest credited (2) 111 94 13 2 4,059 38 210 6 Other — — — — — 3 11 — Balance, end of period $ 5,260 $ 4,133 $ 666 $ 23 $ 39,667 $ 2,498 $ 11,870 $ 657 Weighted-average crediting rate 3.67% 3.72% 2.71% 1.32% N/A 3.04% 2.52% 2.33% Net amount at risk (3) $ 36,505 $ 83,438 $ 22,195 $ 3,159 $ 11 $ 118 $ 24 $ — Cash surrender value $ 3,463 $ 2,691 $ 630 $ 238 $ 36,091 $ 2,490 $ 11,782 $ 657 ______________ (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: June 30, 2024 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% $ — $ — $ — $ 6 $ 6 1.51% - 2.50% 29 88 366 542 1,025 Greater than 2.50% 3,455 612 — — 4,067 Total $ 3,484 $ 700 $ 366 $ 548 $ 5,098 VUL 0% - 1.50% $ 10 $ 5 $ 24 $ 14 $ 53 1.51% - 2.50% 34 337 117 — 488 Greater than 2.50% 3,217 — — — 3,217 Total $ 3,261 $ 342 $ 141 $ 14 $ 3,758 GMxB Legacy 0% - 1.50% $ 73 $ 3 $ — $ — $ 76 1.51% - 2.50% 20 — — — 20 Greater than 2.50% 436 — — — 436 Total $ 529 $ 3 $ — $ — $ 532 June 30, 2024 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) GMxB Core 0% - 1.50% $ 13 $ 172 $ — $ — $ 185 1.51% - 2.50% 12 — — — 12 Greater than 2.50% 12 — — — 12 Total $ 37 $ 172 $ — $ — $ 209 EQUI-VEST Individual 0% - 1.50% $ 45 $ 209 $ — $ — $ 254 1.51% - 2.50% 40 — — — 40 Greater than 2.50% 1,887 — — — 1,887 Total $ 1,972 $ 209 $ — $ — $ 2,181 EQUI-VEST Group 0% - 1.50% $ 746 $ 2,372 $ 35 $ 279 $ 3,432 1.51% - 2.50% 349 — — — 349 Greater than 2.50% 6,352 — — — 6,352 Total $ 7,447 $ 2,372 $ 35 $ 279 $ 10,133 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% $ — $ 13 $ 315 $ 52 $ 380 1.51% - 2.50% 122 1 — — 123 Greater than 2.50% 67 — 5 — 72 Total $ 189 $ 14 $ 320 $ 52 $ 575 December 31, 2023 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% $ — $ — $ — $ 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 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 Separate Account - Summary The following table reconciles the Separate Account liabilities to the Separate Account liability balance in the consolidated balance sheets: June 30, 2024 December 31, 2023 (in millions) Separate Account Reconciliation VUL $ 14,826 $ 13,694 GMxB Legacy 33,965 33,793 GMxB Core 27,336 27,664 EQUI-VEST Individual 4,787 4,584 Investment Edge 4,188 4,048 EQUI-VEST Group 29,226 26,960 Momentum 4,701 4,421 Other (1) 6,377 6,333 Total $ 125,406 $ 121,497 _____________ (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: Six Months Ended June 30, 2024 VUL GMxB Legacy GMxB Core EQUI-VEST Individual Investment Edge EQUI-VEST Group Momentum (in millions) Balance, beginning of period $ 13,694 $ 33,793 $ 27,664 $ 4,584 $ 4,048 $ 26,960 $ 4,421 Premiums and deposits 406 112 233 40 152 1,180 379 Policy charges (215) (324) (238) (1) — (8) (11) Surrenders and withdrawals (306) (1,629) (1,685) (248) (247) (1,113) (477) Benefit payments (25) (385) (131) (26) (15) (32) (8) Investment performance (1) 1,331 2,401 1,476 445 290 2,409 390 Net transfers from (to) general account (59) (3) 17 (7) (40) (170) 7 Other charges — — — — — — — Balance, end of period $ 14,826 $ 33,965 $ 27,336 $ 4,787 $ 4,188 $ 29,226 $ 4,701 Cash surrender value $ 14,791 $ 33,702 $ 26,722 $ 4,752 $ 4,120 $ 28,935 $ 4,694 ______________ (1) Investment performance is reflected net of M&E fees. Six Months Ended June 30, 2023 VUL GMxB Legacy GMxB Core EQUI-VEST Individual Investment Edge EQUI-VEST Group Momentum (in millions) Balance, beginning of period $ 11,535 $ 32,616 $ 27,017 $ 4,162 $ 3,772 $ 22,393 $ 3,884 Premiums and deposits 382 110 259 49 200 1,116 332 Policy charges (213) (340) (241) (1) — (8) (10) Surrenders and withdrawals (259) (1,324) (1,216) (198) (195) (744) (364) Benefit payments (45) (382) (117) (27) (24) (28) (5) Investment performance (1) 1,495 3,392 2,065 538 321 2,849 452 Net transfers from (to) general account 89 (2) 38 (3) (94) (144) 12 Other charges (2) — — — 4 — 25 — Balance, end of period $ 12,984 $ 34,070 $ 27,805 $ 4,524 $ 3,980 $ 25,459 $ 4,301 Cash surrender value $ 12,971 $ 33,792 $ 27,055 $ 4,491 $ 3,894 $ 25,210 $ 4,295 ______________ (1) Investment performance is reflected net of M&E fees. (2) The following tables present the aggregate fair value of Separate Account assets by major asset category: June 30, 2024 Life Insurance & Employee Benefits Products Individual Variable Annuity Products Employer - Sponsored Products Other Total (in millions) Asset Type Debt securities $ 51 $ 1 $ 7 $ 19 $ 78 Common Stock 67 35 452 1,706 2,260 Mutual Funds 14,662 71,000 35,388 658 121,708 Bonds and Notes 110 4 14 1,232 1,360 Total $ 14,890 $ 71,040 $ 35,861 $ 3,615 $ 125,406 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

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income tax expense for the three and six months ended June 30, 2024 and 2023 was computed using an estimated annual effective tax rate (“ETR”), with discrete items recognized in the period in which they occur. The estimated ETR is revised, as necessary, at the end of successive interim reporting periods. During the fourth quarter of 2022, the Company established a valuation allowance against its deferred tax asset related to unrealized capital losses in the available for sale securities portfolio. 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. The Company maintains a valuation allowance against the deferred tax asset on available for sale securities that will not be held to recovery. There were no material changes to the valuation allowance for the three months ended March 31, 2024. For the six months ended June 30, 2024, the Company recorded an increase to the valuation allowance of $5 million, due to changes in the value of unrealized losses in the available for sale portfolio that will not be held to recovery. This adjustment was recorded in other comprehensive income. A valuation allowance of $222 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.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company did not enter into any new significant transactions with related parties during the three and six months ended June 30, 2024. On May 17, 2023, the Company entered into a reinsurance agreement with Equitable America, effective April 1, 2023. See Note 17 of the Notes to these Consolidated Financial Statements for further details.

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2024
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: June 30, 2024 December 31, 2023 (in millions) Unrealized gains (losses) on investments $ (7,165) $ (6,363) Market risk benefits - instrument-specific credit risk component (945) (764) Liability for future policy benefits - current discount rate component 372 194 Defined benefit pension plans (4) (5) Accumulated other comprehensive income (loss) attributable to Equitable Financial $ (7,742) $ (6,938) The components of OCI, net of taxes were as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Change in net unrealized gains (losses) on investments: Net unrealized gains (losses) arising during the period $ (399) $ (616) $ (861) $ 836 (Gains) losses reclassified into net income (loss) during the period (1) 3 39 24 94 Net unrealized gains (losses) on investments (396) (577) (837) 930 Adjustments for policyholders’ liabilities, insurance liability loss recognition and other 29 31 35 33 Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $(91), $(310), $(206), and $7) (367) (546) (802) 963 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 $(42), $(23), $(38) and $225) (161) (88) (144) 845 Liability for future policy benefits - change in current discount rate (net of deferred income tax expense (benefit) of $15, $19, $37 and $(10) ) 58 73 141 (36) Change in defined benefit plans: Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost — — 1 — Change in defined benefit plans (net of deferred income tax expense (benefit) of $0, $0, $0 and $0) — — 1 — Change in accumulated other comprehensive income (loss) attributable to Equitable Financial $ (470) $ (561) $ (804) $ 1,772 ______________ (1) See “Reclassification adjustment” in Note 3 of the Notes to these Consolidated Financial Statements. Reclassification amounts presented net of income tax expense (benefit) of $(1) million , $(10) million , $(6) million and $(25) million for the three and six months ended June 30, 2024 and 2023, respectively. 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.

REDEEMABLE NONCONTROLLING INTER

REDEEMABLE NONCONTROLLING INTEREST	6 Months Ended
	Jun. 30, 2024
Noncontrolling Interest [Abstract]
REDEEMABLE NONCONTROLLING INTEREST	REDEEMABLE NONCONTROLLING INTEREST The changes in the components of redeemable noncontrolling interests are presented in the following table: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Balance, beginning of period $ 29 $ 19 $ 24 $ 21 Net earnings (loss) attributable to redeemable noncontrolling interests — 1 1 1 Purchase/change of redeemable noncontrolling interests 1 1 5 (1) Balance, end of period $ 30 $ 21 $ 30 $ 21

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES 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, COI 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 June 30, 2024, 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 $100 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, one action is also pending against Equitable Financial in New York State Court. In July 2022, the trial court in 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 the appellate court affirmed the trial court’s decision. In March 2024, the intermediate appellate court granted plaintiff’s motion for leave to appeal to the state’s highest 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 $336 million and pledged collateral with a carrying value of $10.0 billion as of June 30, 2024. 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 Six Months Ended June 30, 2024 Outstanding Balance at December 31, 2023 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 June 30, 2024 (in millions) Short-term funding agreements: Due in one year or less $ 6,168 $ 30,425 $ (30,875) $ 125 $ — $ 5,843 Long-term funding agreements: Due in years two through five 799 — — (82) — 717 Due in more than five years 648 — — (43) — 605 Total long-term funding agreements 1,447 — — (125) — 1,322 Total funding agreements (1) $ 7,615 $ 30,425 $ (30,875) $ — $ — $ 7,165 ____________ (1) The $2 million and $3 million difference between the funding agreements carrying value shown in fair value table for June 30, 2024 and December 31, 2023, 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 June 30, 2024, 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 Six Months Ended June 30, 2024 Outstanding Balance at December 31, 2023 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 June 30, 2024 (in millions) Short-term funding agreements: Due in one year or less $ 1,000 $ — $ — $ — $ — $ — $ 1,000 Long-term funding agreements: Due in years two through five 4,984 — — — — (19) 4,965 Due in more than five years 300 — — — — — 300 Total long-term funding agreements 5,284 — — — — (19) 5,265 Total funding agreements (1) $ 6,284 $ — $ — $ — $ — $ (19) $ 6,265 ______________ (1) The $14 million and $17 million difference between the funding agreements notional value shown and carrying value table as of June 30, 2024 and December 31, 2023, 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 $250 million outstanding as of June 30, 2024. Guarantees and Other Commitments The Company provides certain guarantees or commitments to affiliates and others. As of June 30, 2024, these arrangements include commitments by the Company to provide equity financing of $1.1 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 June 30, 2024. The Company had $683 million of commitments under existing mortgage loan agreements as of June 30, 2024. 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	6 Months Ended
	Jun. 30, 2024
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: June 30, 2024 December 31, 2023 (in millions) Reconciliation Term $ 1,291 $ 1,341 Payout - Non-Legacy 802 844 Payout - Legacy 3,900 3,620 Group Pension - Benefit Reserve & DPL 457 490 Health 1,414 1,505 UL 1,241 1,220 Subtotal 9,105 9,020 Whole Life Closed Block and Open Block products 5,318 5,463 Other (1) 603 657 Future policyholder benefits total 15,026 15,140 Other policyholder funds and dividends payable 1,448 1,433 Total $ 16,474 $ 16,573 ______________ (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: Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 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 period $ 2,125 $ — $ — $ — $ (21) $ 2,090 $ — $ — $ — $ (6) Beginning balance at original discount rate 2,051 — — — (22) 2,069 — — — (6) Effect of changes in cash flow assumptions (18) — — — (3) 8 — — — — Effect of actual variances from expected experience (52) — — — 1 4 — — — (6) Adjusted beginning of period balance 1,981 — — — (24) 2,081 — — — (12) Issuances 26 — — — — 32 — — — — Interest accrual 49 — — — — 50 — — — — Net premiums collected (94) — — — 2 (99) — — — 1 Ending Balance at original discount rate 1,962 — — — (22) 2,064 — — — (11) Effect of changes in discount rate assumptions (21) — — — 1 35 — — — — Balance, end of period $ 1,941 $ — $ — $ — $ (21) $ 2,099 $ — $ — $ — $ (11) Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Term Payout - Non-Legacy Payout-Legacy Group Pension Health Term Payout-Non-Legacy Payout-Legacy Group Pension Health (in millions) Present Value of Expected Future Policy Benefits Balance, beginning of period $ 3,466 $ 844 $ 3,620 $ 490 $ 1,484 $ 3,449 $ 828 $ 2,689 $ 523 $ 1,554 Beginning balance of original discount rate 3,317 840 3,840 536 1,672 3,376 845 3,024 583 1,795 Effect of changes in cash flow assumptions (20) — — — — 9 — — — (1) Effect of actual variances from expected experience (65) (2) — 1 6 6 — — — (6) Adjusted beginning of period balance 3,232 838 3,840 537 1,678 3,391 845 3,024 583 1,788 Issuances 28 22 500 — — 34 26 474 — — Interest accrual 82 20 69 9 27 84 19 44 10 29 Benefits payments (115) (47) (181) (31) (79) (182) (46) (132) (34) (71) Ending balance at original discount rate 3,227 833 4,228 515 1,626 3,327 844 3,410 559 1,746 Effect of changes in discount rate assumptions 5 (31) (328) (58) (234) 90 (10) (309) (56) (224) Balance, end of period $ 3,232 $ 802 $ 3,900 $ 457 $ 1,392 $ 3,417 $ 834 $ 3,101 $ 503 $ 1,522 Net liability for future policy benefits $ 1,291 $ 802 $ 3,900 $ 457 $ 1,414 $ 1,318 $ 834 $ 3,101 $ 503 $ 1,533 Less: Reinsurance recoverable (207) (44) (1,698) — (1,116) (199) (9) (797) — (1,217) Net liability for future policy benefits, after reinsurance recoverable $ 1,084 $ 758 $ 2,202 $ 457 $ 298 $ 1,119 $ 825 $ 2,304 $ 503 $ 316 Weighted-average duration of liability for future policyholder benefits (years) 6.9 9.3 7.5 7.0 8.6 7.0 9.4 7.8 7.1 8.8 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: June 30, 2024 December 31, 2023 (in millions) Term Expected future benefit payments and expenses (undiscounted) $ 5,677 $ 5,860 Expected future gross premiums (undiscounted) 6,802 6,956 Expected future benefit payments and expenses (discounted) 3,232 3,466 Expected future gross premiums (discounted) 3,613 3,862 June 30, 2024 December 31, 2023 (in millions) Payout-Legacy Expected future benefit payments and expenses (undiscounted) 5,798 5,204 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 3,820 3,538 Expected future gross premiums (discounted) — — Payout-Non-Legacy Expected future benefit payments and expenses (undiscounted) 1,404 1,426 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 767 812 Expected future gross premiums (discounted) — — Group Pension Expected future benefit payments and expenses (undiscounted) 640 668 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 439 471 Expected future gross premiums (discounted) — — Health Expected future benefit payments and expenses (undiscounted) 2,246 2,318 Expected future gross premiums (undiscounted) 78 85 Expected future benefit payments and expenses (discounted) 1,378 1,468 Expected future gross premiums (discounted) $ 61 $ 68 The table below summarizes the revenue and interest related to nonparticipating traditional and limited payment contracts: Six Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Gross Premium Interest Accretion (in millions) Revenue and Interest Accretion Term $ 170 $ 117 $ 33 $ 34 Payout - Legacy 109 45 79 44 Payout - Non-Legacy 18 16 20 19 Group Pension — — 9 10 Health 6 4 28 29 Total $ 303 $ 182 $ 169 $ 136 The following table provides the weighted average interest rates for the liability for future policy benefits: June 30, 2024 December 31, 2023 Weighted Average Interest Rate Term Interest accretion rate 5.6 % 5.6 % Current discount rate 5.3 % 4.8 % Payout - Legacy Interest accretion rate 4.1 % 4.0 % Current discount rate 5.3 % 4.9 % Payout - Non-Legacy Interest accretion rate 5.0 % 5.0 % Current discount rate 5.4 % 4.9 % Group Pension Interest accretion rate 3.3 % 3.3 % Current discount rate 5.3 % 4.8 % Health Interest accretion rate 3.4 % 3.4 % Current discount rate 5.4 % 4.9 % The following table provides the balance, changes in and the weighted average durations of the additional insurance liabilities: Six Months Ended June 30, 2024 2023 UL (Dollars in millions) Balance, beginning of period $ 1,220 $ 1,120 Beginning balance before AOCI adjustments 1,230 1,135 Effect of changes in interest rate and cash flow assumptions and model changes — — Effect of actual variances from expected (2) 4 Adjusted beginning of period balance 1,228 1,139 Interest accrual 27 25 Net assessments collected 35 36 Benefit payments (35) (30) Ending balance before shadow reserve adjustments 1,255 1,170 Effect of reserve adjustment recorded in AOCI (14) (8) Balance, end of period $ 1,241 $ 1,162 Net liability for additional liability $ 1,241 $ 1,162 Less: Reinsurance recoverable (959) (901) Net liability for additional liability, after reinsurance recoverable $ 282 $ 261 Weighted-average duration of additional liability - death benefit (years) 19.5 21.4 The following tables provide the revenue, interest and weighted average interest rates, related to the additional insurance liabilities: Six Months Ended June 30, 2024 2023 2024 2023 Assessments Interest Accretion (in millions) Revenue and Interest Accretion UL $ 338 $ 350 $ 27 $ 25 Total $ 338 $ 350 $ 27 $ 25 Six Months Ended June 30, 2024 2023 Weighted Average Interest Rate UL 4.5 % 4.5 % Interest accretion rate 4.5 % 4.5 % Prescribed and Permitted Accounting Practices As of June 30, 2024, 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 $60 million in statutory special surplus funds as of June 30, 2024. 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 $333 million in statutory surplus as of June 30, 2024 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 June 30, 2024, given the prevailing market conditions and business mix, there are $323 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 $1.4 billion in statutory surplus as of June 30, 2024.

REINSURANCE

REINSURANCE	6 Months Ended
	Jun. 30, 2024
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: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Direct charges and fee income $ 686 $ 678 $ 1,376 $ 1,352 Reinsurance assumed 4 3 4 4 Reinsurance ceded - Equitable America (352) (345) (679) (345) Reinsurance ceded - third party (155) (153) (311) (304) Policy charges and fee income $ 183 $ 183 $ 390 $ 707 Direct premiums $ 191 $ 203 $ 393 $ 408 Reinsurance assumed 18 44 57 96 Reinsurance ceded - Equitable America (35) (40) (80) (40) Reinsurance ceded - third party (55) (51) (118) (111) Premiums $ 119 $ 156 $ 252 $ 353 Direct policyholders’ benefits $ 684 $ 742 $ 1,360 $ 1,449 Reinsurance assumed 25 39 64 77 Reinsurance ceded - Equitable America (181) (264) (369) (264) Reinsurance ceded - third party (178) (182) (338) (309) Policyholders’ benefits $ 350 $ 335 $ 717 $ 953 Direct Interest credited to policyholders’ account balances $ 484 $ 490 $ 962 $ 953 Reinsurance assumed — — — — Reinsurance ceded - Equitable America (152) (151) (306) (151) Reinsurance ceded - third party (24) (27) (50) (55) Interest credited to policyholders’ account balances $ 308 $ 312 $ 606 $ 747 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. Internal Reinsurance Treaty 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. 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. 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: June 30, 2024 December 31, 2023 Carrying Value Fair Value Carrying Value Fair Value (in millions) Fixed maturities $ 23,018 $ 23,018 $ 24,725 $ 24,725 Mortgage loans on real estate 8,160 7,197 8,405 7,409 Policy loans 264 265 248 250 Other equity investments 190 190 238 238 Other invested assets (1) 10,704 10,704 8,256 8,257 Total assets supporting funds withheld $ 42,336 $ 41,374 $ 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: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Net derivative gains (losses): Freestanding derivatives $ 611 $ 1,364 $ 1,511 $ 1,364 Embedded derivatives (761) (1,331) (1,716) (1,331) Net derivative gains (losses) (150) 33 (205) 33 Net investment income (loss) 325 295 665 295 Investment gains (losses), net (3) (36) (38) (36) Income (loss) from continuing operations, before income taxes 172 292 422 292 Income tax (expense) benefit (36) (53) (89) (53) Net income (loss) 136 239 333 239 Change in unrealized gains (losses), net of income taxes (178) (173) (353) (173) Comprehensive income (loss) $ (42) $ 66 $ (20) $ 66 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: June 30, 2024 December 31, 2023 (in millions) Ceded Reinsurance: Estimated net fair values of purchased market risk benefits $ 14,185 $ 16,729 Reinsurance recoverables related to insurance contracts 20,383 20,636 Related party - Equitable America (1) 13,402 13,492 Third parties 6,981 7,144 Top reinsurers: First Allmerica-GAF 3,421 3,605 Venerable Insurance and Annuity Company (A- KBRA (IFRS) rating) 1,210 1,057 Ceded group health reserves 12 14 Amount due to reinsurers 179 216 Top reinsurers: First Allmerica-GAF 75 73 Assumed Reinsurance: Reinsurance assumed reserves 621 731 ______________ (1) Includes ceded PAB on NI Modco portion of the Reinsurance Treaty of $34.3 billion offset by $(31.2) billion of modco payable for the same portion of the Reinsurance Treaty.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 49	$ 422	$ (5)	$ 403

Insider Trading Arrangements

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

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The unaudited interim consolidated financial statements (the “consolidated financial statements”) have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP” or “GAAP”) on a basis consistent with reporting interim financial information in accordance with instructions to the Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments necessary for a fair statement of the financial position and results of operations have been made. All such adjustments are of a normal, recurring nature. Interim results are not necessarily indicative of the results that may be expected for the full year. These consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2023. The accompanying unaudited 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 variable interest entities (“VIEs”) that meet the requirements for consolidation. All significant intercompany transactions and balances have been eliminated in consolidation. The terms “second quarter 2024” and “second quarter 2023” refer to the three months ended June 30, 2024 and 2023, respectively. The terms “first six months of 2024” and “first six months of 2023” refer to the six months ended June 30, 2024 and 2023, respectively.
Future Adoption of New Accounting Pronouncements	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. In April 2024, citing litigation challenging the rules that commenced immediately after they were issued, the SEC issued an order staying applicability of the rules while judicial review proceeds. 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.
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 June 30, 2024 and December 31, 2023, 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 June 30, 2024 and December 31, 2023 are total assets of $1.3 billion and $1.1 billion, respectively related to these VIEs. Non-Consolidated VIEs
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 June 30, 2024 and December 31, 2023, 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)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	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. In April 2024, citing litigation challenging the rules that commenced immediately after they were issued, the SEC issued an order staying applicability of the rules while judicial review proceeds. 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 (Tables)

INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
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) June 30, 2024 Fixed Maturities: Corporate (1) $ 42,209 $ 4 $ 157 $ 5,774 $ 36,588 U.S. Treasury, government and agency 5,677 — — 1,356 4,321 States and political subdivisions 432 — 2 71 363 Foreign governments 657 — 1 126 532 Residential mortgage-backed (2) 1,642 — 2 138 1,506 Asset-backed (3) 7,645 — 29 72 7,602 Commercial mortgage-backed 3,389 — 1 425 2,965 Redeemable preferred stock 56 — 2 — 58 Total at June 30, 2024 $ 61,707 $ 4 $ 194 $ 7,962 $ 53,935 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 ______________ (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 June 30, 2024 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 pre-pay obligations with or without call or pre-payment penalties. Contractual Maturities of AFS Fixed Maturities Amortized Cost (Less Allowance for Credit Losses) Fair Value (in millions) June 30, 2024: Contractual maturities: Due in one year or less $ 1,720 $ 1,699 Due in years two through five 12,032 11,534 Due in years six through ten 12,449 11,344 Due after ten years 22,770 17,227 Subtotal 48,971 41,804 Residential mortgage-backed 1,642 1,506 Asset-backed 7,645 7,602 Commercial mortgage-backed 3,389 2,965 Redeemable preferred stock 56 58 Total at June 30, 2024 $ 61,703 $ 53,935
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 Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Proceeds from sales $ 309 $ 2,233 $ 753 $ 2,961 Gross gains on sales $ 2 $ 5 $ 2 $ 7 Gross losses on sales $ (3) $ (46) $ (27) $ (64) Net (increase) decrease in Allowance for Credit and Intent to Sell losses $ (3) $ (7) $ (5) $ (62)
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 Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Balance, beginning of period $ 48 $ 87 $ 48 $ 36 Previously recognized impairments on securities that matured, paid, prepaid or sold (4) (52) (8) (55) Recognized impairments on securities impaired to fair value this period (1) (2) — — — 50 Credit losses recognized this period on securities for which credit losses were not previously recognized 3 6 6 9 Additional credit losses this period on securities previously impaired 3 3 4 4 Balance, end of period $ 50 $ 44 $ 50 $ 44 ______________ (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 six months ended June 30, 2023 represent AFS fixed maturities in an unrealized loss position, which the Company sold in anticipation of the Company’s ordinary dividend to Holdings.
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 Three Months Ended June 30, 2024 Net Unrealized Gains (Losses) on Investments Policyholders’ Liabilities Deferred Income Tax Asset (Liability) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (in millions) Balance, beginning of period $ (7,274) $ 17 $ 344 $ (6,913) Net investment gains (losses) arising during the period (499) — — (499) Reclassification adjustment: Included in net income (loss) 4 — — 4 Excluded from net income (loss) — — — — Other — — (5) (5) Impact of net unrealized investment gains (losses) — 2 103 105 Net unrealized investment gains (losses) excluding credit losses (7,769) 19 442 (7,308) Net unrealized investment gains (losses) with credit losses 1 — — 1 Balance, end of period $ (7,768) $ 19 $ 442 $ (7,307) Three Months Ended June 30, 2023 Balance, beginning of period $ (7,609) $ 18 $ 422 $ (7,169) Net investment gains (losses) arising during the period (629) — — (629) Reclassification adjustment: Included in net income (loss) 50 — — 50 Excluded from net income (loss) — — — — Other — — (122) (122) Impact of net unrealized investment gains (losses) — (7) 123 116 Net unrealized investment gains (losses) excluding credit losses (8,188) 11 423 (7,754) Net unrealized investment gains (losses) with credit losses 1 — — 1 Balance, end of period $ (8,187) $ 11 $ 423 $ (7,753) Six Months Ended June 30, 2024 Net Unrealized Gains (Losses) on Investments Policyholders’ Liabilities Deferred Income Tax Asset (Liability) (1) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (1) (in millions) Balance, beginning of period $ (6,715) $ 13 $ 227 $ (6,475) Net investment gains (losses) arising during the period (1,080) — — (1,080) Reclassification adjustment: Included in net income (loss) 30 — — 30 Other — — (5) (5) Impact of net unrealized investment gains (losses) — 6 219 225 Six Months Ended June 30, 2024 Net Unrealized Gains (Losses) on Investments Policyholders’ Liabilities Deferred Income Tax Asset (Liability) (1) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (1) (in millions) Net unrealized investment gains (losses) excluding credit losses (7,765) 19 441 (7,305) Net unrealized investment gains (losses) with credit losses (3) — 1 (2) Balance, end of period $ (7,768) $ 19 $ 442 $ (7,307) Six Months Ended June 30, 2023 Balance, beginning of period $ (9,116) $ 21 $ 421 $ (8,674) Net investment gains (losses) arising during the period 815 — — 815 Reclassification adjustment: Included in net income (loss) 120 — — 120 Other — — 195 195 Impact of net unrealized investment gains (losses) — (10) (194) (204) Net unrealized investment gains (losses) excluding credit losses (8,181) 11 422 (7,748) Net unrealized investment gains (losses) with credit losses (6) — 1 (5) Balance, end of period $ (8,187) $ 11 $ 423 $ (7,753) _____________ (1) Certain balances were revised from previously filed financial statements.
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 3,993 issues as of June 30, 2024 and the 3,986 issues as of December 31, 2023 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) June 30, 2024 Fixed Maturities: Corporate $ 3,350 $ 120 $ 27,919 $ 5,650 $ 31,269 $ 5,770 U.S. Treasury, government and agency 12 — 4,252 1,356 4,264 1,356 States and political subdivisions 43 — 223 71 266 71 Foreign governments 35 2 474 124 509 126 Residential mortgage-backed 302 2 968 136 1,270 138 Asset-backed 714 2 1,171 70 1,885 72 Commercial mortgage-backed 93 9 2,802 416 2,895 425 Total at June 30, 2024 $ 4,549 $ 135 $ 37,809 $ 7,823 $ 42,358 $ 7,958 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
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: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Allowance for credit losses on mortgage loans: Commercial mortgages: Balance, beginning of period $ 284 $ 133 $ 270 $ 123 Current-period provision for expected credit losses 9 7 23 17 Write-offs charged against the allowance (75) — (75) — Recoveries of amounts previously written off — — — — Net change in allowance (66) 7 (52) 17 Balance, end of period $ 218 $ 140 $ 218 $ 140 Agricultural mortgages: Balance, beginning of period $ 6 $ 6 $ 6 $ 6 Current-period provision for expected credit losses 3 (1) 3 (1) Write-offs charged against the allowance — — — — Recoveries of amounts previously written off — — — — Net change in allowance 3 (1) 3 (1) Balance, end of period $ 9 $ 5 $ 9 $ 5 Residential mortgages: Balance, beginning of period $ 3 $ — $ 1 $ — 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 period $ 2 $ — $ 2 $ — Total allowance for credit losses $ 229 $ 145 $ 229 $ 145
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) June 30, 2024 Amortized Cost Basis by Origination Year 2024 2023 2022 2021 2020 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% $ — $ 251 $ 140 $ 130 $ 35 $ 1,574 $ — $ — $ 2,130 50% - 70% 73 706 1,326 664 716 2,305 495 206 6,491 70% - 90% — 242 1,276 1,145 515 1,695 77 36 4,986 90% plus — — 467 158 91 833 — — 1,549 Total commercial $ 73 $ 1,199 $ 3,209 $ 2,097 $ 1,357 $ 6,407 $ 572 $ 242 $ 15,156 Agricultural: 0% - 50% $ 23 $ 101 $ 159 $ 188 $ 248 $ 903 $ — $ — $ 1,622 50% - 70% 97 60 140 149 172 306 — — 924 70% - 90% — — — — — 16 — — 16 90% plus — — — — — — — — — Total agricultural $ 120 $ 161 $ 299 $ 337 $ 420 $ 1,225 $ — $ — $ 2,562 Total commercial and agricultural mortgage loans: 0% - 50% $ 23 $ 352 $ 299 $ 318 $ 283 $ 2,477 $ — $ — $ 3,752 50% - 70% 170 766 1,466 813 888 2,611 495 206 7,415 70% - 90% — 242 1,276 1,145 515 1,711 77 36 5,002 90% plus — — 467 158 91 833 — — 1,549 Total commercial and agricultural mortgage loans $ 193 $ 1,360 $ 3,508 $ 2,434 $ 1,777 $ 7,632 $ 572 $ 242 $ 17,718 Debt Service Coverage (“DSC”) Ratios (2) (3) June 30, 2024 Amortized Cost Basis by Origination Year 2024 2023 2022 2021 2020 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 $ 1,222 $ 1,131 $ 3,527 $ — $ — $ 6,748 1.8x to 2.0x — — — 208 166 549 231 206 1,360 1.5x to 1.8x — 141 808 143 — 992 113 — 2,197 1.2x to 1.5x — 463 1,168 429 60 838 — — 2,958 1.0x to 1.2x 73 412 369 61 — 443 228 36 1,622 Less than 1.0x — 8 171 34 — 58 — — 271 Total commercial $ 73 $ 1,199 $ 3,209 $ 2,097 $ 1,357 $ 6,407 $ 572 $ 242 $ 15,156 Agricultural: Greater than 2.0x $ 8 $ 7 $ 42 $ 34 $ 59 $ 182 $ — $ — $ 332 1.8x to 2.0x 11 17 24 55 29 80 — — 216 1.5x to 1.8x 47 12 49 28 110 206 — — 452 1.2x to 1.5x 20 46 105 140 158 428 — — 897 1.0x to 1.2x 23 47 55 69 56 297 — — 547 Less than 1.0x 11 32 24 11 8 32 — — 118 Total agricultural $ 120 $ 161 $ 299 $ 337 $ 420 $ 1,225 $ — $ — $ 2,562 Total commercial and agricultural mortgage loans: Greater than 2.0x $ 8 $ 182 $ 735 $ 1,256 $ 1,190 $ 3,709 $ — $ — $ 7,080 1.8x to 2.0x 11 17 24 263 195 629 231 206 1,576 1.5x to 1.8x 47 153 857 171 110 1,198 113 — 2,649 1.2x to 1.5x 20 509 1,273 569 218 1,266 — — 3,855 1.0x to 1.2x 96 459 424 130 56 740 228 36 2,169 Less than 1.0x 11 40 195 45 8 90 — — 389 Total commercial and agricultural mortgage loans $ 193 $ 1,360 $ 3,508 $ 2,434 $ 1,777 $ 7,632 $ 572 $ 242 $ 17,718 _____________ (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, 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 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 1.5x to 1.8x 80 1,060 234 — 162 924 — — 2,460 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) 1.2x 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. The amortized cost of residential mortgage loans by credit quality indicator and origination year was as follows: June 30, 2024 Amortized Cost Basis by Origination Year 2024 2023 2022 2021 2020 Prior Total (in millions) Performance indicators: Performing $ — $ 263 $ 117 $ 72 $ 2 $ 2 $ 456 Nonperforming — — — — — — — Total $ — $ 263 $ 117 $ 72 $ 2 $ 2 $ 456 December 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Total (in millions) Performance indicators: Performing $ 98 $ 121 $ 74 $ 2 $ 1 $ 2 $ 298 Nonperforming — — — — — — — Total $ 98 $ 121 $ 74 $ 2 $ 1 $ 2 $ 298
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) June 30, 2024: Mortgage loans: Commercial $ — $ — $ — $ — $ 15,123 $ 15,123 $ 33 $ 15,156 $ — $ — Agricultural 16 6 27 49 2,477 2,526 36 2,562 — — Residential — — — — 456 456 — 456 — — Total $ 16 $ 6 $ 27 $ 49 $ 18,056 $ 18,105 $ 69 $ 18,174 $ — $ — 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 _______________ (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 Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ (5) $ 7 $ 10 $ 6 Net investment gains (losses) recognized on securities sold during the period 2 (2) 1 (2) Unrealized and realized gains (losses) on equity securities $ (3) $ 5 $ 11 $ 4 The breakdown of net investment income (loss) from trading securities was as follows: Net Investment Income (Loss) from Trading Securities Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ — $ 4 $ 15 $ 17 Net investment gains (losses) recognized on securities sold during the period — (1) — (2) Unrealized and realized gains (losses) on trading securities — 3 15 15 Interest and dividend income from trading securities 4 2 5 4 Net investment income (loss) from trading securities $ 4 $ 5 $ 20 $ 19
Schedule of Net Investment Income	The following tables provide the components of net investment income by investment type: Three Months Ended June 30, 2024 2023 Excluding (1) Funds Total Excluding Funds Total (in millions) Fixed maturities $ 386 $ 255 $ 641 $ 416 $ 272 $ 688 Mortgage loans on real estate 145 83 228 111 87 198 Policy loans 46 4 50 49 — 49 Other equity investments 41 4 45 49 (35) 14 Trading securities 4 — 4 5 — 5 Other investment income (23) 11 (12) 6 1 7 Gross investment income (loss) 599 357 956 636 325 961 Investment expenses (58) (32) (90) (46) (30) (76) Net investment income (loss) $ 541 $ 325 $ 866 $ 590 $ 295 $ 885 Six Months Ended June 30, 2024 2023 Excluding Funds Total Excluding (1) Funds Withheld and NI Modco Funds Total (in millions) Fixed maturities $ 777 $ 527 $ 1,304 $ 1,087 $ 272 $ 1,359 Mortgage loans on real estate 287 169 456 288 87 375 Policy loans 94 7 101 97 — 97 Other equity investments 96 12 108 70 (35) 35 Trading securities 20 — 20 19 — 19 Other investment income (29) 16 (13) 12 1 13 Gross investment income (loss) 1,245 731 1,976 1,573 325 1,898 Investment expenses (110) (66) (176) (125) (30) (155) Net investment income (loss) $ 1,135 $ 665 $ 1,800 $ 1,448 $ 295 $ 1,743 _______________ (1)
Schedule of Investment Gains (Losses), Net	Investment gains (losses), net, including changes in the valuation allowances and credit losses were as follows: Three Months Ended June 30, 2024 2023 Excluding Funds Total Excluding Funds Total (in millions) Fixed maturities $ (3) $ (1) $ (4) $ (15) $ (34) $ (49) Mortgage loans on real estate (12) (1) (13) (5) (2) (7) Other equity investments (1) — — — — — — Other (1) — (1) (2) — (2) Investment gains (losses), net $ (16) $ (2) $ (18) $ (22) $ (36) $ (58) Six Months Ended June 30, 2024 2023 Excluding Funds Total Excluding Funds Total (in millions) Fixed maturities $ (6) $ (24) $ (30) $ (86) $ (34) $ (120) Mortgage loans on real estate (15) (14) (29) (14) (2) (16) Other equity investments — — — — — — Other 3 — 3 — — — Investment gains (losses), net $ (18) $ (38) $ (56) $ (100) $ (36) $ (136)

DERIVATIVES (Tables)

DERIVATIVES (Tables)	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 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 $ 2,629 $ — $ 99 $ — $ 92 $ — $ 7 Interest swaps 952 — — — 328 — (328) Total: designated for hedge accounting 3,581 — 99 — 420 — (321) June 30, 2024 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: not designated for hedge accounting (1) Equity contracts: Futures 2,349 3,206 — — — — — Swaps 840 14,197 3 51 — 17 37 Options 9,311 44,777 3,091 12,019 728 2,464 11,918 Interest rate contracts: Futures 1,533 6,164 — — — — — Swaps 526 2,055 1 17 4 16 (2) Credit contracts: Credit default swaps 102 — — — 1 — (1) Currency contracts: Currency swaps 803 — 3 — 4 — (1) Other freestanding contracts: Margin — — 99 204 — — 303 Collateral — — 113 — 11,711 — (11,598) Total: Not designated for hedge accounting 15,464 70,399 3,310 12,291 12,448 2,497 656 Embedded derivatives: SCS, SIO, MSO and IUL indexed features (2) (5) — — 8,960 — 11,756 — (2,796) Funds withheld payable (3) — — — — (87) — 87 Modco payable (4) — — (183) — — — (183) Total embedded derivatives — — 8,777 — 11,669 — (2,892) Total derivative instruments $ 19,045 $ 70,399 $ 12,186 $ 12,291 $ 24,537 $ 2,497 $ (2,557) ______________ (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 to reinsurers. (5) SCS embedded derivative asset is recorded as a modco receivable. This is presented net in the consolidated balance sheets. 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) 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. The following table presents the effects of derivative instruments on the consolidated statements of income and comprehensive income (loss): Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 Net Net-FWH and NI modco Net Interest AOCI Net Net-FWH and NI modco Net Interest AOCI (in millions) Derivative instruments: Derivatives: designated for hedge accounting Cash flow hedges: Currency/Interest rate contracts: Currency swaps $ — $ — $ 4 $ (5) $ 22 $ 1 $ — $ 7 $ (23) $ 38 Interest swaps — — (17) — 13 — — (14) — 6 Total: designated for hedge accounting — — (13) (5) 35 1 — (7) (23) 44 Derivatives: not designated for hedge accounting Equity contracts: Futures 15 (33) — — — 115 (46) — — — Swaps (10) (87) — — — (158) (1,050) — — — Options 217 770 — — — 656 2,732 — — — Interest rate contracts: Futures (18) 35 — — — (55) 85 — — — Swaps (15) (74) — — — (43) (210) — — — Swaptions — — — — — — — — — — Credit contracts: Credit default swaps — — — — — — — — — — Currency contracts: Currency swaps 1 — — — — 14 — — — — Other contracts: Margin — — — — — — — — — — Collateral — — — — — — — — — — Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 Net Net-FWH and NI modco Net Interest AOCI Net Net-FWH and NI modco Net Interest AOCI (in millions) Total: not designated for hedge accounting 190 611 — — — 529 1,511 — — — Embedded derivatives: SCS, SIO, MSO and IUL indexed features (255) — — — — (854) — — — — Funds withheld payable 89 — — — — 1,106 — — — — Modco payable (850) — — — — (2,822) — — — — Total embedded derivatives (1,016) — — — — (2,570) — — — — Total derivatives $ (826) $ 611 $ (13) $ (5) $ 35 $ (2,040) $ 1,511 $ (7) $ (23) $ 44 ______________ (1) Reported in net derivative gains (losses) in the consolidated statements of income (loss). (2) Investment fees of $6 million and $11 million for the three and six months ended June 30, 2024, respectively, are reported in net derivative gains (losses) in the consolidated statements of income (loss). Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Net Net-FWH and NI modco Net Interest Credited To Policyholders Account Balances AOCI Net Net-FWH and NI modco Net Investment Income Interest Credited To Policyholders Account Balances AOCI (in millions) Derivatives: Designated for hedge accounting Cash flow hedges: Currency Swaps $ 2 $ — $ 2 $ 8 $ 3 $ 10 $ — $ 5 $ (26) $ 28 Interest Swaps (16) — — — 30 (21) — — — 2 Total: Designated for hedge accounting (14) 2 8 33 (11) 5 (26) 30 Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Net Net-FWH and NI modco Net Interest Credited To Policyholders Account Balances AOCI Net Net-FWH and NI modco Net Investment Income Interest Credited To Policyholders Account Balances AOCI (in millions) Derivatives: Not designated for hedge accounting Equity contracts: Futures 58 (158) — — — (96) (158) — — — Swaps (113) (591) — — — (716) (591) — — — Options 361 2,032 — — — 1,858 2,032 — — — Interest rate contracts: Futures (19) 76 — — — (62) 76 — — — Swaps (61) 5 — — — (14) 5 — — — Credit contracts: Credit default swaps — — — — — — — — — — Currency contracts: Currency swaps (9) — — — — (19) — — — — Currency forwards — — — — — — — — — — Other contracts: Margin — — — — — — — — — — Collateral — — — — — — — — — — Total: Not designated for hedge accounting 217 1,364 — — — 951 1,364 — — — Embedded Derivatives: SCS, SIO, MSO and IUL indexed features (453) — — — — (2,027) — — — — Funds withheld payable 599 — — — — 599 — — — — Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Net Net-FWH and NI modco Net Interest Credited To Policyholders Account Balances AOCI Net Net-FWH and NI modco Net Investment Income Interest Credited To Policyholders Account Balances AOCI (in millions) Modco payable (1,930) — — — — (1,930) — — — — Total Embedded Derivatives (1,784) — — — — (3,358) — — — — Total derivatives instruments $ (1,581) $ 1,364 $ 2 $ 8 $ 33 $ (2,418) $ 1,364 $ 5 $ (26) $ 30 ______________ (1) Reported in net derivative gains (losses) in the consolidated statements of income (loss). (2) Investment fees of $4 million and $8 million for the three and six months ended June 30, 2023 , 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 Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Balance, beginning of period $ (21) $ 19 $ (31) $ 22 Amount recorded in AOCI Currency swaps 19 13 19 6 Interest swaps (9) 10 (17) (27) Total amount recorded in AOCI 10 23 2 (21) Amount reclassified (to) from income to AOCI Currency swaps (1) 3 (10) 20 22 Interest swaps (1) 21 20 22 29 Total amount reclassified (to) from income to AOCI 24 10 42 51 Balance, end of period (2) $ 13 $ 52 $ 13 $ 52 ______________ (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 three and six months ended June 30, 2024 and 2023 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 June 30, 2024 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 $ 15,700 $ 12,268 $ 3,432 $ (2,944) $ 488 Secured lending 131 — 131 — 131 Other financial assets 1,603 — 1,603 — 1,603 Other invested assets $ 17,434 $ 12,268 $ 5,166 $ (2,944) $ 2,222 Liabilities: Derivative liabilities $ 12,422 $ 12,268 $ 154 $ — $ 154 Secured lending 131 — 131 — 131 Other financial liabilities 2,423 — 2,423 — 2,423 Other liabilities $ 14,976 $ 12,268 $ 2,708 $ — $ 2,708 ______________ (1) Financial instruments sent (held). 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).

CLOSED BLOCK (Tables)

CLOSED BLOCK (Tables)	6 Months Ended
	Jun. 30, 2024
Closed Block Disclosure [Abstract]
Schedule of Closed Block Assets and Liabilities	Summarized financial information for the Company’s Closed Block is as follows: June 30, 2024 December 31, 2023 (in millions) Closed Block Liabilities: Future policy benefits, policyholders’ account balances and other $ 5,326 $ 5,461 Other liabilities 55 57 Total Closed Block liabilities 5,381 5,518 Assets Designated to the Closed Block: Fixed maturities AFS, at fair value (amortized cost of $2,924 and $2,945) (allowance for credit losses of $0 and $0) 2,752 2,800 Mortgage loans on real estate (net of allowance for credit losses of $14 and $13) 1,544 1,612 Policy loans 538 554 Cash and other invested assets 10 58 Other assets 185 150 Total assets designated to the Closed Block 5,029 5,174 Excess of Closed Block liabilities over assets designated to the Closed Block 352 344 Amounts included in AOCI: Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $0 and $0; and net of income tax: $36 and $31 (136) (115) Maximum future earnings to be recognized from Closed Block assets and liabilities $ 216 $ 229
Schedule of Closed Block Operations, Net Results	The Company’s Closed Block revenues and expenses were as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Revenues: Premiums and other income $ 26 $ 29 $ 55 $ 59 Net investment income (loss) 51 52 103 103 Investment gains (losses), net — — (1) — Total revenues 77 81 157 162 Benefits and Other Deductions: Policyholders’ benefits and dividends 64 75 141 158 Other operating costs and expenses — — — — Total benefits and other deductions 64 75 141 158 Net income (loss), before income taxes 13 6 16 4 Income tax (expense) benefit (2) (1) (3) (2) Net income (loss) $ 11 $ 5 $ 13 $ 2

DAC AND OTHER DEFERRED ASSETS_2

DAC AND OTHER DEFERRED ASSETS/LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2024
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: June 30, 2024 December 31, 2023 (in millions) Term $ 326 $ 338 UL 25 22 VUL 217 182 GMxB Core 1,432 1,483 EQUI-VEST Individual 147 150 Investment Edge 150 150 SCS 1,278 1,282 GMxB Legacy 205 208 EQUI-VEST Group 725 723 Momentum 85 82 Closed Block 112 117 Other 20 22 Total $ 4,722 $ 4,759
Schedule of Deferred Policy Acquisition Costs	Changes in the DAC asset were as follows: Six Months Ended June 30, 2024 Term UL VUL GMxB Core EI IE SCS GMxB Legacy EG Momentum CB (1) Total (in millions) Balance, beginning of period $ 338 $ 22 $ 182 $ 1,483 $ 150 $ 150 $ 1,282 $ 208 $ 723 $ 82 $ 117 $ 4,737 Capitalization (2) 7 4 40 28 6 10 110 14 32 5 — 256 Amortization (3) (19) (1) (5) (69) (6) (7) (106) (12) (21) (2) (5) (253) Recovery of acquisition cost (4) — — — (10) (3) (3) (8) (5) (9) — — (38) Balance, end of period $ 326 $ 25 $ 217 $ 1,432 $ 147 $ 150 $ 1,278 $ 205 $ 725 $ 85 $ 112 $ 4,702 ______________ (1) “CB” defined as Closed Block. (2) DAC capitalization of $1 million related to Other not reflected in table above. (3) DAC amortization of $2 million related to Other not reflected in table above. (4) Related to the Internal Reinsurance Transaction and is recorded in other income. Six Months Ended June 30, 2023 Term UL VUL GMxB Core EI IE SCS GMxB Legacy EG Momentum CB Total (in millions) Balance, beginning of period $ 362 $ 20 $ 112 $ 1,585 $ 156 $ 147 $ 1,266 $ 213 $ 711 $ 89 $ 127 $ 4,788 Capitalization 7 2 36 26 5 12 113 14 33 5 — 253 Amortization (19) (1) (4) (68) (6) (7) (92) (12) (21) (8) (5) (243) Recovery of acquisition cost — — — (6) (2) (1) (4) (2) (6) — — (21) Balance, end of period $ 350 $ 21 $ 144 $ 1,537 $ 153 $ 151 $ 1,283 $ 213 $ 717 $ 86 $ 122 $ 4,777 Changes in the sales inducement assets were as follows: Six Months Ended June 30, 2024 2023 GMxB Core GMxB Legacy GMxB Core GMxB Legacy (in millions) Balance, beginning of period $ 126 $ 179 $ 137 $ 200 Capitalization — — — — Amortization (6) (10) (6) (10) Balance, end of period $ 120 $ 169 $ 131 $ 190 Changes in the unearned revenue liability were as follows: Six Months Ended June 30, 2024 2023 UL VUL UL VUL (in millions) Balance, beginning of period $ 105 $ 551 $ 95 $ 525 Capitalization 8 34 9 29 Amortization (4) (17) (3) (17) Recovery of unearned revenue (1) — (1) — Balance, end of period $ 108 $ 568 $ 100 $ 537

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments: Fixed maturities, AFS: Corporate (1) $ — $ 34,548 $ 2,040 $ 36,588 U.S. Treasury, government and agency — 4,321 — 4,321 States and political subdivisions — 363 — 363 Foreign governments — 532 — 532 Residential mortgage-backed (2) — 1,506 — 1,506 Asset-backed (3) — 7,575 27 7,602 Commercial mortgage-backed — 2,959 6 2,965 Redeemable preferred stock — 58 — 58 Total fixed maturities, AFS — 51,862 2,073 53,935 Other equity investments 143 391 52 586 Trading securities 221 535 — 756 Other invested assets: Short-term investments — 246 — 246 Assets of consolidated VIEs/VOEs — — 3 3 Swaps — (286) — (286) Credit default swaps — (1) — (1) Options — 11,918 — 11,918 Total other invested assets — 11,877 3 11,880 Cash equivalents 3,033 296 — 3,329 Purchased market risk benefits — — 14,185 14,185 Assets for market risk benefits — — 763 763 Separate Accounts assets (4) 122,256 2,599 — 124,855 Modco payable (5) — — (183) (183) SCS, SIO, MSO and IUL indexed features’ asset — 8,960 — 8,960 Total Assets $ 125,653 $ 76,520 $ 16,893 $ 219,066 Liabilities: SCS, SIO, MSO and IUL indexed features’ liability (6) — 11,756 — 11,756 Liabilities for market risk benefits — — 12,568 12,568 Funds withheld payable (7) — — (87) (87) Total Liabilities $ — $ 11,756 $ 12,481 $ 24,237 ______________ (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 June 30, 2024 the fair value of such investments was $338 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, 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) 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.
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. Level 3 Instruments - Fair Value Measurements Three Months Ended June 30, 2024 Corporate State and Political Subdivisions Asset-backed CMBS (in millions) Balance, beginning of period $ 2,238 $ — $ 33 $ 6 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 2 — — — Investment gains (losses), net (1) — — — Subtotal 1 — — — Other comprehensive income (loss) — — — — Purchases 124 — (6) — Sales (323) — — — Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) — — — — Transfers out of Level 3 (1) — — — — Balance, end of period $ 2,040 $ — $ 27 $ 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) $ — $ — $ — $ — _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of June 30, 2024 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. Three Months Ended June 30, 2024 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable (4) (in millions) Balance, beginning of period $ 58 $ 1 $ (29) $ (292) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income — — — — Net derivative gains (losses) — — — — Total realized and unrealized gains (losses) — — — — Other comprehensive income (loss) — — — — Purchases (42) (1) — — Sales 39 — — — Change in fair value of funds withheld assets — — (58) 109 Other — — — — Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) — — — — Transfers out of Level 3 (1) — — — — Balance, end of period $ 55 $ — $ (87) $ (183) Three Months Ended June 30, 2024 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable (4) (in millions) 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) $ — $ — $ — $ — ______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of June 30, 2024, 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. (4) Reflected in Amounts due from reinsurers. Three Months Ended June 30, 2023 Corporate State and Political Subdivisions Asset-backed CMBS (in millions) Balance, beginning of period $ 1,914 $ 28 $ 12 $ 34 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 2 — — — Investment gains (losses), net (8) — — — Subtotal (6) — — — Other comprehensive income (loss) (8) 1 — — Purchases 180 — (12) — Sales (72) (2) — — Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) 11 — — — Transfers out of Level 3 (1) (43) — — — Balance, end of period $ 1,976 $ 27 $ — $ 34 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) $ (8) $ 1 $ — $ — _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of June 30, 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. Three Months Ended June 30, 2023 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable (in millions) Balance, beginning of period $ 14 $ 1 $ — $ — Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income — — — — Net derivative gains (losses) — — (136) 166 Total realized and unrealized gains (losses) — — (136) 166 Other comprehensive income (loss) — — — — Purchases 44 — — — Sales — — — — Other — — — — Activity related to consolidated VIEs/VOEs 47 — — — Transfers into Level 3 (1) — — — — Transfers out of Level 3 (1) — — — — Balance, end of period $ 105 $ 1 $ (136) $ 166 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) $ — $ — $ — $ — ______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of June 30, 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) Six Months Ended June 30, 2024 Corporate State and Political Subdivisions Asset-backed CMBS (in millions) Balance, beginning of period $ 2,070 $ 27 $ 24 $ 6 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 4 — — — Investment gains (losses), net (2) — — — Subtotal 2 — — — Other comprehensive income (loss) 10 — — — Purchases 325 — 17 — Sales (377) — — — Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) 57 — — — Transfers out of Level 3 (1) (47) (27) (14) — Balance, end of period $ 2,040 $ — $ 27 $ 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) $ 10 $ — $ — $ — _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of June 30, 2024 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. Six Months Ended June 30, 2024 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable (in millions) Balance, beginning of period $ 57 $ — $ 100 $ (411) Realized and unrealized gains (losses), included in Net income (loss) as: 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 — — — — Sales (3) — — — Change in fair value of funds withheld assets — — (187) 228 Other — — — — Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) — — — — Transfers out of Level 3 (1) — — — — Balance, end of period $ 55 $ — $ (87) $ (183) Six Months Ended June 30, 2024 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) $ — $ — $ — $ — 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 June 30, 2024, 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. Six Months Ended June 30, 2023 Corporate State and Political Subdivisions Asset-backed CMBS (in millions) Balance, beginning of period $ 2,103 $ 29 $ — $ 32 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 3 — — — Investment gains (losses), net (11) — — — Subtotal (8) — — — Other comprehensive income (loss) 10 — — — Purchases 323 — — 2 Sales (162) (2) — — Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) 11 — — — Transfers out of Level 3 (1) (301) — — — Balance, end of period $ 1,976 $ 27 $ — $ 34 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) $ 9 $ 1 $ — $ — _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of June 30, 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. Six Months Ended June 30, 2023 Other Equity Investments (3) Separate Accounts Assets Funds Withheld Payable Modco Payable (in millions) Balance, beginning of period $ 17 $ 1 $ — $ — Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income (3) — — — Net derivative gains (losses) — — (136) 166 Total realized and unrealized gains (losses) (3) — (136) 166 Other comprehensive income (loss) — — — — Purchases 44 — — — Sales — — — — Activity related to consolidated VIEs/VOEs 47 — — — Transfers into Level 3 (1) — — — — Transfers out of Level 3 (1) — — — — Balance, end of period $ 105 $ 1 $ (136) $ 166 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ (3) $ — $ — $ — 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 June 30, 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)
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 June 30, 2024 Fair Valuation Technique Significant Range Weighted Average (2) (Dollars in millions) Assets: Investments: Fixed maturities, AFS: Corporate $ 311 Matrix pricing model Spread over benchmark 45 bps - 220 bps 139 bps 699 Market comparable companies EBITDA multiples Discount rate Cash flow multiples Loan to value 4.0x - 33.0x 0.0% - 28.9% 0.0x - 9.0x 9.6% - 12.8% 12.7x 5.2% 5.8x 5.0% Fair Valuation Technique Significant Range Weighted Average (2) Other equity investments — Discounted Cash Flow Earnings multiple 6.9x - 0.0x 0.0x Purchased MRB asset (1) (2) (4) 14,185 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% 21 bps - 101 bps 11% - 31% 0.01% - 0.18% 0.07% - 0.53% 0.33% - 42.00% 2.86% 0.63% 5.19% 33 bps 24% 2.95% (same for all ages) (same for all ages) Liabilities: (5) Direct MRB (1) (2) (3) (4) $ 11,805 Discounted cash flow Non-performance risk Lapse rates Withdrawal rates Annuitization Mortality (1): Ages 0-40 Ages 41-60 Ages 61-115 109 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% 109 bps 3.18% 0.73% 5.26% 2.84% (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 $12.6 billion of MRB liabilities and $763 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, 2023 Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average (2) (Dollars in millions) Assets: Investments: Fixed maturities, AFS: Corporate $ 330 Matrix pricing model Spread over benchmark 20 - 747 bps 187 bps 979 Market comparable companies EBITDA multiples 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% 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 (bps) 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 rates Mortality: 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) 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 $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
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) June 30, 2024: Mortgage loans on real estate $ 17,946 $ — $ — $ 16,259 $ 16,259 Policy loans $ 3,742 $ — $ — $ 3,964 $ 3,964 Loans to affiliates $ 1,900 $ — $ 1,786 $ — $ 1,786 Policyholders’ liabilities: Investment contracts $ 1,980 $ — $ — $ 1,930 $ 1,930 Funds withheld payable $ 9,834 $ — $ — $ 9,834 $ 9,834 Modco payable (1) $ 31,042 $ — $ — $ 31,042 $ 31,042 FHLB funding agreements $ 7,167 $ — $ 7,090 $ — $ 7,090 FABN funding agreements $ 6,251 $ — $ 5,870 $ — $ 5,870 Funding agreement-backed commercial paper (FABCP) $ 242 $ — $ 250 $ — $ 250 Separate Accounts liabilities $ 10,777 $ — $ — $ 10,777 $ 10,777 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 $ 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 ______________ (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)	6 Months Ended
	Jun. 30, 2024
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: June 30, 2024 December 31, 2023 (in millions) Reconciliation Term $ 1,291 $ 1,341 Payout - Non-Legacy 802 844 Payout - Legacy 3,900 3,620 Group Pension - Benefit Reserve & DPL 457 490 Health 1,414 1,505 UL 1,241 1,220 Subtotal 9,105 9,020 Whole Life Closed Block and Open Block products 5,318 5,463 Other (1) 603 657 Future policyholder benefits total 15,026 15,140 Other policyholder funds and dividends payable 1,448 1,433 Total $ 16,474 $ 16,573 ______________ (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: Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 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 period $ 2,125 $ — $ — $ — $ (21) $ 2,090 $ — $ — $ — $ (6) Beginning balance at original discount rate 2,051 — — — (22) 2,069 — — — (6) Effect of changes in cash flow assumptions (18) — — — (3) 8 — — — — Effect of actual variances from expected experience (52) — — — 1 4 — — — (6) Adjusted beginning of period balance 1,981 — — — (24) 2,081 — — — (12) Issuances 26 — — — — 32 — — — — Interest accrual 49 — — — — 50 — — — — Net premiums collected (94) — — — 2 (99) — — — 1 Ending Balance at original discount rate 1,962 — — — (22) 2,064 — — — (11) Effect of changes in discount rate assumptions (21) — — — 1 35 — — — — Balance, end of period $ 1,941 $ — $ — $ — $ (21) $ 2,099 $ — $ — $ — $ (11) Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Term Payout - Non-Legacy Payout-Legacy Group Pension Health Term Payout-Non-Legacy Payout-Legacy Group Pension Health (in millions) Present Value of Expected Future Policy Benefits Balance, beginning of period $ 3,466 $ 844 $ 3,620 $ 490 $ 1,484 $ 3,449 $ 828 $ 2,689 $ 523 $ 1,554 Beginning balance of original discount rate 3,317 840 3,840 536 1,672 3,376 845 3,024 583 1,795 Effect of changes in cash flow assumptions (20) — — — — 9 — — — (1) Effect of actual variances from expected experience (65) (2) — 1 6 6 — — — (6) Adjusted beginning of period balance 3,232 838 3,840 537 1,678 3,391 845 3,024 583 1,788 Issuances 28 22 500 — — 34 26 474 — — Interest accrual 82 20 69 9 27 84 19 44 10 29 Benefits payments (115) (47) (181) (31) (79) (182) (46) (132) (34) (71) Ending balance at original discount rate 3,227 833 4,228 515 1,626 3,327 844 3,410 559 1,746 Effect of changes in discount rate assumptions 5 (31) (328) (58) (234) 90 (10) (309) (56) (224) Balance, end of period $ 3,232 $ 802 $ 3,900 $ 457 $ 1,392 $ 3,417 $ 834 $ 3,101 $ 503 $ 1,522 Net liability for future policy benefits $ 1,291 $ 802 $ 3,900 $ 457 $ 1,414 $ 1,318 $ 834 $ 3,101 $ 503 $ 1,533 Less: Reinsurance recoverable (207) (44) (1,698) — (1,116) (199) (9) (797) — (1,217) Net liability for future policy benefits, after reinsurance recoverable $ 1,084 $ 758 $ 2,202 $ 457 $ 298 $ 1,119 $ 825 $ 2,304 $ 503 $ 316 Weighted-average duration of liability for future policyholder benefits (years) 6.9 9.3 7.5 7.0 8.6 7.0 9.4 7.8 7.1 8.8 The following table reconciles the policyholders account balances to the policyholders’ account balance liability in the consolidated balance sheets: June 30, 2024 December 31, 2023 (in millions) Policyholders’ account balance reconciliation UL $ 5,129 $ 5,202 VUL 4,165 4,145 GMxB Legacy 595 618 GMxB Core (8) (5) SCS 43,344 40,649 EQUI-VEST Individual 2,182 2,322 EQUI-VEST Group 11,369 11,563 Momentum 575 608 Other (1) 3,552 2,995 Balance (exclusive of Funding Agreements) 70,903 68,097 Funding Agreements 13,711 14,893 Balance, end of period $ 84,614 $ 82,990 _______________ (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: Six Months Ended June 30, 2024 Universal Life Variable Universal Life GMxB Legacy GMxB Core SCS (1) EQUI-VEST Individual EQUI-VEST Group Momentum (Dollars in millions) Balance, beginning of period $ 5,202 $ 4,145 $ 618 $ (5) $ 40,649 $ 2,322 $ 11,563 $ 608 Issuances — — — — — — — — Premiums received 327 52 36 23 8 15 305 37 Policy charges (359) (109) 18 7 (5) — (3) — Surrenders and withdrawals (45) (23) (43) (18) (1,824) (168) (806) (69) Benefit payments (106) (52) (49) (1) (132) (27) (35) (1) Net transfers from (to) separate account — 59 3 (17) 1,009 7 170 (7) Interest credited (2) 110 93 12 3 3,639 33 175 7 Other — — — — — — — — Balance, end of period $ 5,129 $ 4,165 $ 595 $ (8) $ 43,344 $ 2,182 $ 11,369 $ 575 Weighted-average crediting rate 3.80 % 3.75 % 2.74 % 1.38 % N/A 2.98 % 2.67 % 2.32 % Net amount at risk (3) $ 34,364 $ 82,517 $ 19,710 $ 2,866 $ — $ 104 $ 9 $ — Cash surrender value $ 3,393 $ 2,617 $ 531 $ 205 $ 40,408 $ 2,176 $ 11,313 $ 576 Six Months Ended June 30, 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 period $ 5,341 $ 4,253 $ 688 $ 42 $ 35,460 $ 2,652 $ 12,046 $ 703 Issuances — — — — — — — — Premiums received 358 64 41 26 — 19 317 35 Policy charges (384) (109) 20 8 (3) — (3) — Surrenders and withdrawals (38) (22) (47) (16) (1,319) (178) (820) (71) Benefit payments (128) (58) (51) (1) (121) (40) (35) (4) Net transfers from (to) separate account — (89) 2 (38) 1,591 4 144 (12) Interest credited (2) 111 94 13 2 4,059 38 210 6 Other — — — — — 3 11 — Balance, end of period $ 5,260 $ 4,133 $ 666 $ 23 $ 39,667 $ 2,498 $ 11,870 $ 657 Weighted-average crediting rate 3.67% 3.72% 2.71% 1.32% N/A 3.04% 2.52% 2.33% Net amount at risk (3) $ 36,505 $ 83,438 $ 22,195 $ 3,159 $ 11 $ 118 $ 24 $ — Cash surrender value $ 3,463 $ 2,691 $ 630 $ 238 $ 36,091 $ 2,490 $ 11,782 $ 657 ______________ (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: June 30, 2024 December 31, 2023 (in millions) Separate Account Reconciliation VUL $ 14,826 $ 13,694 GMxB Legacy 33,965 33,793 GMxB Core 27,336 27,664 EQUI-VEST Individual 4,787 4,584 Investment Edge 4,188 4,048 EQUI-VEST Group 29,226 26,960 Momentum 4,701 4,421 Other (1) 6,377 6,333 Total $ 125,406 $ 121,497 _____________ (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: Six Months Ended June 30, 2024 VUL GMxB Legacy GMxB Core EQUI-VEST Individual Investment Edge EQUI-VEST Group Momentum (in millions) Balance, beginning of period $ 13,694 $ 33,793 $ 27,664 $ 4,584 $ 4,048 $ 26,960 $ 4,421 Premiums and deposits 406 112 233 40 152 1,180 379 Policy charges (215) (324) (238) (1) — (8) (11) Surrenders and withdrawals (306) (1,629) (1,685) (248) (247) (1,113) (477) Benefit payments (25) (385) (131) (26) (15) (32) (8) Investment performance (1) 1,331 2,401 1,476 445 290 2,409 390 Net transfers from (to) general account (59) (3) 17 (7) (40) (170) 7 Other charges — — — — — — — Balance, end of period $ 14,826 $ 33,965 $ 27,336 $ 4,787 $ 4,188 $ 29,226 $ 4,701 Cash surrender value $ 14,791 $ 33,702 $ 26,722 $ 4,752 $ 4,120 $ 28,935 $ 4,694 ______________ (1) Investment performance is reflected net of M&E fees. Six Months Ended June 30, 2023 VUL GMxB Legacy GMxB Core EQUI-VEST Individual Investment Edge EQUI-VEST Group Momentum (in millions) Balance, beginning of period $ 11,535 $ 32,616 $ 27,017 $ 4,162 $ 3,772 $ 22,393 $ 3,884 Premiums and deposits 382 110 259 49 200 1,116 332 Policy charges (213) (340) (241) (1) — (8) (10) Surrenders and withdrawals (259) (1,324) (1,216) (198) (195) (744) (364) Benefit payments (45) (382) (117) (27) (24) (28) (5) Investment performance (1) 1,495 3,392 2,065 538 321 2,849 452 Net transfers from (to) general account 89 (2) 38 (3) (94) (144) 12 Other charges (2) — — — 4 — 25 — Balance, end of period $ 12,984 $ 34,070 $ 27,805 $ 4,524 $ 3,980 $ 25,459 $ 4,301 Cash surrender value $ 12,971 $ 33,792 $ 27,055 $ 4,491 $ 3,894 $ 25,210 $ 4,295 ______________ (1) Investment performance is reflected net of M&E fees. (2)
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: June 30, 2024 December 31, 2023 (in millions) Term Expected future benefit payments and expenses (undiscounted) $ 5,677 $ 5,860 Expected future gross premiums (undiscounted) 6,802 6,956 Expected future benefit payments and expenses (discounted) 3,232 3,466 Expected future gross premiums (discounted) 3,613 3,862 June 30, 2024 December 31, 2023 (in millions) Payout-Legacy Expected future benefit payments and expenses (undiscounted) 5,798 5,204 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 3,820 3,538 Expected future gross premiums (discounted) — — Payout-Non-Legacy Expected future benefit payments and expenses (undiscounted) 1,404 1,426 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 767 812 Expected future gross premiums (discounted) — — Group Pension Expected future benefit payments and expenses (undiscounted) 640 668 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 439 471 Expected future gross premiums (discounted) — — Health Expected future benefit payments and expenses (undiscounted) 2,246 2,318 Expected future gross premiums (undiscounted) 78 85 Expected future benefit payments and expenses (discounted) 1,378 1,468 Expected future gross premiums (discounted) $ 61 $ 68
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: Six Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Gross Premium Interest Accretion (in millions) Revenue and Interest Accretion Term $ 170 $ 117 $ 33 $ 34 Payout - Legacy 109 45 79 44 Payout - Non-Legacy 18 16 20 19 Group Pension — — 9 10 Health 6 4 28 29 Total $ 303 $ 182 $ 169 $ 136
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: June 30, 2024 December 31, 2023 Weighted Average Interest Rate Term Interest accretion rate 5.6 % 5.6 % Current discount rate 5.3 % 4.8 % Payout - Legacy Interest accretion rate 4.1 % 4.0 % Current discount rate 5.3 % 4.9 % Payout - Non-Legacy Interest accretion rate 5.0 % 5.0 % Current discount rate 5.4 % 4.9 % Group Pension Interest accretion rate 3.3 % 3.3 % Current discount rate 5.3 % 4.8 % Health Interest accretion rate 3.4 % 3.4 % Current discount rate 5.4 % 4.9 %
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: Six Months Ended June 30, 2024 2023 UL (Dollars in millions) Balance, beginning of period $ 1,220 $ 1,120 Beginning balance before AOCI adjustments 1,230 1,135 Effect of changes in interest rate and cash flow assumptions and model changes — — Effect of actual variances from expected (2) 4 Adjusted beginning of period balance 1,228 1,139 Interest accrual 27 25 Net assessments collected 35 36 Benefit payments (35) (30) Ending balance before shadow reserve adjustments 1,255 1,170 Effect of reserve adjustment recorded in AOCI (14) (8) Balance, end of period $ 1,241 $ 1,162 Net liability for additional liability $ 1,241 $ 1,162 Less: Reinsurance recoverable (959) (901) Net liability for additional liability, after reinsurance recoverable $ 282 $ 261 Weighted-average duration of additional liability - death benefit (years) 19.5 21.4 The following tables provide the revenue, interest and weighted average interest rates, related to the additional insurance liabilities: Six Months Ended June 30, 2024 2023 2024 2023 Assessments Interest Accretion (in millions) Revenue and Interest Accretion UL $ 338 $ 350 $ 27 $ 25 Total $ 338 $ 350 $ 27 $ 25 Six Months Ended June 30, 2024 2023 Weighted Average Interest Rate UL 4.5 % 4.5 % Interest accretion rate 4.5 % 4.5 %

MARKET RISK BENEFITS (Tables)

MARKET RISK BENEFITS (Tables)	6 Months Ended
	Jun. 30, 2024
Market Risk Benefit [Abstract]
Schedule of Market Risk Benefit, Activity	The following table presents the balances and changes to the balances for market risk benefits for the GMxB benefits on deferred variable annuities: Three Months Ended June 30, 2024 GMxB Core Purchased MRB Core Net GMxB Core GMxB Legacy Purchased MRB Legacy Net GMxB Legacy (Dollars in millions) Balance, beginning of period $ 328 $ (900) $ (572) $ 11,701 $ (13,783) $ (2,082) Beginning balance before changes in the instrument specific credit risk 97 (992) (895) 11,326 (13,819) (2,493) Model changes and effect of changes in cash flow assumptions — — — — — — Actual market movement effect (3) (2) (5) 45 (10) 35 Interest accrual 15 (5) 10 153 (163) (10) Attributed fees accrued (1) 107 (95) 12 198 (146) 52 Benefit payments (11) 11 — (311) 304 (7) Actual policyholder behavior different from expected behavior 6 (1) 5 — (5) (5) Changes in future economic assumptions (60) 53 (7) (514) 537 23 Issuances — 1 1 — — — Ending balance before changes in the instrument-specific credit risk 151 (1,030) (879) 10,897 (13,302) (2,405) Changes in the instrument-specific credit risk (2) 268 98 366 520 48 568 Balance, end of period $ 419 $ (932) $ (513) $ 11,417 $ (13,254) $ (1,837) Weighted-average age of policyholders (years) 65.0 65.4 N/A 73.3 73.7 N/A Net amount at risk $ 2,866 $ 2,834 N/A $ 19,710 $ 19,397 N/A _______________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Changes are recorded in OCI. Three Months Ended June 30, 2023 GMxB Core Purchased MRB Core Net GMxB Core GMxB Legacy Purchased MRB Legacy Net GMxB Legacy (Dollars in millions) Balance, beginning of period $ 333 $ — $ 333 $ 14,082 $ (10,746) $ 3,336 Beginning balance before changes in the instrument specific credit risk 560 — 560 15,599 (10,648) 4,952 Model changes and effect of changes in cash flow assumptions — — — — — — Actual market movement effect (116) 105 (11) (637) 585 (52) Interest accrual 19 (9) 10 195 (202) (7) Attributed fees accrued (1) 110 (99) 11 208 (155) 53 Benefit payments (12) 12 — (345) 338 (7) Actual policyholder behavior different from expected behavior 3 (4) (1) (6) (3) (9) Changes in future economic assumptions (193) 217 24 (872) 822 (50) Issuances (1) (1,294) (1,295) — (6,865) (6,866) Ending balance before changes in the instrument-specific credit risk 370 (1,072) (702) 14,142 (16,128) (1,986) Changes in the instrument-specific credit risk (2) (215) 1 (214) (1,422) (95) (1,517) Balance, end of period $ 155 $ (1,071) $ (916) $ 12,720 $ (16,223) $ (3,503) Weighted-average age of policyholders (years) 64.0 64.4 N/A 72.8 73.0 N/A Net amount at risk $ 3,159 $ 3,072 N/A $ 22,195 $ 21,728 N/A _______________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Changes are recorded in OCI. Six Months Ended June 30, 2024 GMxB Core Purchased MRB Core Net GMxB Core GMxB Legacy Purchased MRB Legacy (4) Net GMxB Legacy (Dollars in millions) Balance, beginning of period $ 578 $ (1,180) $ (602) $ 13,410 $ (15,519) $ (2,109) Beginning balance before changes in the instrument specific credit risk 324 (1,266) (942) 13,020 (15,543) (2,523) Model changes and effect of changes in cash flow assumptions — — — — 1 1 Actual market movement effect (154) 145 (9) (743) 736 (7) Interest accrual 30 (9) 21 314 (331) (17) Attributed fees accrued (1) 199 (178) 21 398 (300) 98 Benefit payments (21) 21 — (632) 618 (14) Actual policyholder behavior different from expected behavior 9 — 9 (23) 8 (15) Changes in future economic assumptions (236) 256 20 (1,437) 1,509 72 Issuances (2) — 1 1 — — — Ending balance before changes in the instrument-specific credit risk 151 (1,030) (879) 10,897 (13,302) (2,405) Changes in the instrument-specific credit risk (3) 268 98 366 520 48 568 Balance, end of period $ 419 $ (932) $ (513) $ 11,417 $ (13,254) $ (1,837) Weighted-average age of policyholders (years) 65.0 65.4 N/A 73.3 73.7 N/A Net amount at risk $ 2,866 $ 2,834 N/A $ 19,710 $ 19,397 N/A _______________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Issuances are from a non-affiliated recapture of reinsurance.. (3) Changes are recorded in OCI. (4) Purchased MRB is the impact of non-affiliated reinsurance and affiliated reinsurance with Equitable America. Six Months Ended June 30, 2023 GMxB Core Purchased MRB Core Net GMxB Core GMxB Legacy Purchased MRB Legacy (3) Net GMxB Legacy (Dollars in millions) Balance, beginning of period $ 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 — — — — — — Actual market movement effect (322) 105 (217) (1,381) 978 (403) Interest accrual 37 (9) 28 392 (358) 34 Attributed fees accrued (1) 204 (99) 105 418 (238) 180 Benefit payments (24) 12 (12) (687) 523 (164) Actual policyholder behavior different from expected behavior 8 (4) 4 15 (20) (5) Changes in future economic assumptions (70) 217 147 71 290 361 Issuances (1) (1,294) (1,295) — (6,865) (6,865) Ending balance before changes in the instrument-specific credit risk 370 (1,072) (702) 14,142 (16,128) (1,986) Changes in the instrument-specific credit risk (2) (215) 1 (214) (1,422) (95) (1,517) Balance, end of period $ 155 $ (1,071) $ (916) $ 12,720 $ (16,223) $ (3,503) Weighted-average age of policyholders (years) 64.0 64.4 N/A 72.8 73.0 N/A Net amount at risk (4) $ 3,159 $ 3,072 N/A $ 22,195 $ 21,728 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. (4) 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: June 30, 2024 December 31, 2023 MRB Asset MRB Liability Net MRB Purchased MRB Total MRB Asset MRB Liability Net MRB Purchased MRB Total (in millions) GMxB Core $ (497) $ 916 $ 419 $ (932) $ (513) $ (410) $ 988 $ 578 $ (1,180) $ (602) GMxB Legacy (180) 11,597 11,417 (13,254) (1,837) (103) 13,513 13,410 (15,519) (2,109) Other (86) 55 (31) 1 (30) (61) 69 8 (30) (22) Total $ (763) $ 12,568 $ 11,805 $ (14,185) $ (2,380) $ (574) $ 14,570 $ 13,996 $ (16,729) $ (2,733)

POLICYHOLDER ACCOUNT BALANCES (

POLICYHOLDER ACCOUNT BALANCES (Tables)	6 Months Ended
	Jun. 30, 2024
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: Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 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 period $ 2,125 $ — $ — $ — $ (21) $ 2,090 $ — $ — $ — $ (6) Beginning balance at original discount rate 2,051 — — — (22) 2,069 — — — (6) Effect of changes in cash flow assumptions (18) — — — (3) 8 — — — — Effect of actual variances from expected experience (52) — — — 1 4 — — — (6) Adjusted beginning of period balance 1,981 — — — (24) 2,081 — — — (12) Issuances 26 — — — — 32 — — — — Interest accrual 49 — — — — 50 — — — — Net premiums collected (94) — — — 2 (99) — — — 1 Ending Balance at original discount rate 1,962 — — — (22) 2,064 — — — (11) Effect of changes in discount rate assumptions (21) — — — 1 35 — — — — Balance, end of period $ 1,941 $ — $ — $ — $ (21) $ 2,099 $ — $ — $ — $ (11) Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Term Payout - Non-Legacy Payout-Legacy Group Pension Health Term Payout-Non-Legacy Payout-Legacy Group Pension Health (in millions) Present Value of Expected Future Policy Benefits Balance, beginning of period $ 3,466 $ 844 $ 3,620 $ 490 $ 1,484 $ 3,449 $ 828 $ 2,689 $ 523 $ 1,554 Beginning balance of original discount rate 3,317 840 3,840 536 1,672 3,376 845 3,024 583 1,795 Effect of changes in cash flow assumptions (20) — — — — 9 — — — (1) Effect of actual variances from expected experience (65) (2) — 1 6 6 — — — (6) Adjusted beginning of period balance 3,232 838 3,840 537 1,678 3,391 845 3,024 583 1,788 Issuances 28 22 500 — — 34 26 474 — — Interest accrual 82 20 69 9 27 84 19 44 10 29 Benefits payments (115) (47) (181) (31) (79) (182) (46) (132) (34) (71) Ending balance at original discount rate 3,227 833 4,228 515 1,626 3,327 844 3,410 559 1,746 Effect of changes in discount rate assumptions 5 (31) (328) (58) (234) 90 (10) (309) (56) (224) Balance, end of period $ 3,232 $ 802 $ 3,900 $ 457 $ 1,392 $ 3,417 $ 834 $ 3,101 $ 503 $ 1,522 Net liability for future policy benefits $ 1,291 $ 802 $ 3,900 $ 457 $ 1,414 $ 1,318 $ 834 $ 3,101 $ 503 $ 1,533 Less: Reinsurance recoverable (207) (44) (1,698) — (1,116) (199) (9) (797) — (1,217) Net liability for future policy benefits, after reinsurance recoverable $ 1,084 $ 758 $ 2,202 $ 457 $ 298 $ 1,119 $ 825 $ 2,304 $ 503 $ 316 Weighted-average duration of liability for future policyholder benefits (years) 6.9 9.3 7.5 7.0 8.6 7.0 9.4 7.8 7.1 8.8 The following table reconciles the policyholders account balances to the policyholders’ account balance liability in the consolidated balance sheets: June 30, 2024 December 31, 2023 (in millions) Policyholders’ account balance reconciliation UL $ 5,129 $ 5,202 VUL 4,165 4,145 GMxB Legacy 595 618 GMxB Core (8) (5) SCS 43,344 40,649 EQUI-VEST Individual 2,182 2,322 EQUI-VEST Group 11,369 11,563 Momentum 575 608 Other (1) 3,552 2,995 Balance (exclusive of Funding Agreements) 70,903 68,097 Funding Agreements 13,711 14,893 Balance, end of period $ 84,614 $ 82,990 _______________ (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: Six Months Ended June 30, 2024 Universal Life Variable Universal Life GMxB Legacy GMxB Core SCS (1) EQUI-VEST Individual EQUI-VEST Group Momentum (Dollars in millions) Balance, beginning of period $ 5,202 $ 4,145 $ 618 $ (5) $ 40,649 $ 2,322 $ 11,563 $ 608 Issuances — — — — — — — — Premiums received 327 52 36 23 8 15 305 37 Policy charges (359) (109) 18 7 (5) — (3) — Surrenders and withdrawals (45) (23) (43) (18) (1,824) (168) (806) (69) Benefit payments (106) (52) (49) (1) (132) (27) (35) (1) Net transfers from (to) separate account — 59 3 (17) 1,009 7 170 (7) Interest credited (2) 110 93 12 3 3,639 33 175 7 Other — — — — — — — — Balance, end of period $ 5,129 $ 4,165 $ 595 $ (8) $ 43,344 $ 2,182 $ 11,369 $ 575 Weighted-average crediting rate 3.80 % 3.75 % 2.74 % 1.38 % N/A 2.98 % 2.67 % 2.32 % Net amount at risk (3) $ 34,364 $ 82,517 $ 19,710 $ 2,866 $ — $ 104 $ 9 $ — Cash surrender value $ 3,393 $ 2,617 $ 531 $ 205 $ 40,408 $ 2,176 $ 11,313 $ 576 Six Months Ended June 30, 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 period $ 5,341 $ 4,253 $ 688 $ 42 $ 35,460 $ 2,652 $ 12,046 $ 703 Issuances — — — — — — — — Premiums received 358 64 41 26 — 19 317 35 Policy charges (384) (109) 20 8 (3) — (3) — Surrenders and withdrawals (38) (22) (47) (16) (1,319) (178) (820) (71) Benefit payments (128) (58) (51) (1) (121) (40) (35) (4) Net transfers from (to) separate account — (89) 2 (38) 1,591 4 144 (12) Interest credited (2) 111 94 13 2 4,059 38 210 6 Other — — — — — 3 11 — Balance, end of period $ 5,260 $ 4,133 $ 666 $ 23 $ 39,667 $ 2,498 $ 11,870 $ 657 Weighted-average crediting rate 3.67% 3.72% 2.71% 1.32% N/A 3.04% 2.52% 2.33% Net amount at risk (3) $ 36,505 $ 83,438 $ 22,195 $ 3,159 $ 11 $ 118 $ 24 $ — Cash surrender value $ 3,463 $ 2,691 $ 630 $ 238 $ 36,091 $ 2,490 $ 11,782 $ 657 ______________ (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: June 30, 2024 December 31, 2023 (in millions) Separate Account Reconciliation VUL $ 14,826 $ 13,694 GMxB Legacy 33,965 33,793 GMxB Core 27,336 27,664 EQUI-VEST Individual 4,787 4,584 Investment Edge 4,188 4,048 EQUI-VEST Group 29,226 26,960 Momentum 4,701 4,421 Other (1) 6,377 6,333 Total $ 125,406 $ 121,497 _____________ (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: Six Months Ended June 30, 2024 VUL GMxB Legacy GMxB Core EQUI-VEST Individual Investment Edge EQUI-VEST Group Momentum (in millions) Balance, beginning of period $ 13,694 $ 33,793 $ 27,664 $ 4,584 $ 4,048 $ 26,960 $ 4,421 Premiums and deposits 406 112 233 40 152 1,180 379 Policy charges (215) (324) (238) (1) — (8) (11) Surrenders and withdrawals (306) (1,629) (1,685) (248) (247) (1,113) (477) Benefit payments (25) (385) (131) (26) (15) (32) (8) Investment performance (1) 1,331 2,401 1,476 445 290 2,409 390 Net transfers from (to) general account (59) (3) 17 (7) (40) (170) 7 Other charges — — — — — — — Balance, end of period $ 14,826 $ 33,965 $ 27,336 $ 4,787 $ 4,188 $ 29,226 $ 4,701 Cash surrender value $ 14,791 $ 33,702 $ 26,722 $ 4,752 $ 4,120 $ 28,935 $ 4,694 ______________ (1) Investment performance is reflected net of M&E fees. Six Months Ended June 30, 2023 VUL GMxB Legacy GMxB Core EQUI-VEST Individual Investment Edge EQUI-VEST Group Momentum (in millions) Balance, beginning of period $ 11,535 $ 32,616 $ 27,017 $ 4,162 $ 3,772 $ 22,393 $ 3,884 Premiums and deposits 382 110 259 49 200 1,116 332 Policy charges (213) (340) (241) (1) — (8) (10) Surrenders and withdrawals (259) (1,324) (1,216) (198) (195) (744) (364) Benefit payments (45) (382) (117) (27) (24) (28) (5) Investment performance (1) 1,495 3,392 2,065 538 321 2,849 452 Net transfers from (to) general account 89 (2) 38 (3) (94) (144) 12 Other charges (2) — — — 4 — 25 — Balance, end of period $ 12,984 $ 34,070 $ 27,805 $ 4,524 $ 3,980 $ 25,459 $ 4,301 Cash surrender value $ 12,971 $ 33,792 $ 27,055 $ 4,491 $ 3,894 $ 25,210 $ 4,295 ______________ (1) Investment performance is reflected net of M&E fees. (2)
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: June 30, 2024 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% $ — $ — $ — $ 6 $ 6 1.51% - 2.50% 29 88 366 542 1,025 Greater than 2.50% 3,455 612 — — 4,067 Total $ 3,484 $ 700 $ 366 $ 548 $ 5,098 VUL 0% - 1.50% $ 10 $ 5 $ 24 $ 14 $ 53 1.51% - 2.50% 34 337 117 — 488 Greater than 2.50% 3,217 — — — 3,217 Total $ 3,261 $ 342 $ 141 $ 14 $ 3,758 GMxB Legacy 0% - 1.50% $ 73 $ 3 $ — $ — $ 76 1.51% - 2.50% 20 — — — 20 Greater than 2.50% 436 — — — 436 Total $ 529 $ 3 $ — $ — $ 532 June 30, 2024 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) GMxB Core 0% - 1.50% $ 13 $ 172 $ — $ — $ 185 1.51% - 2.50% 12 — — — 12 Greater than 2.50% 12 — — — 12 Total $ 37 $ 172 $ — $ — $ 209 EQUI-VEST Individual 0% - 1.50% $ 45 $ 209 $ — $ — $ 254 1.51% - 2.50% 40 — — — 40 Greater than 2.50% 1,887 — — — 1,887 Total $ 1,972 $ 209 $ — $ — $ 2,181 EQUI-VEST Group 0% - 1.50% $ 746 $ 2,372 $ 35 $ 279 $ 3,432 1.51% - 2.50% 349 — — — 349 Greater than 2.50% 6,352 — — — 6,352 Total $ 7,447 $ 2,372 $ 35 $ 279 $ 10,133 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% $ — $ 13 $ 315 $ 52 $ 380 1.51% - 2.50% 122 1 — — 123 Greater than 2.50% 67 — 5 — 72 Total $ 189 $ 14 $ 320 $ 52 $ 575 December 31, 2023 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% $ — $ — $ — $ 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 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
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: June 30, 2024 Life Insurance & Employee Benefits Products Individual Variable Annuity Products Employer - Sponsored Products Other Total (in millions) Asset Type Debt securities $ 51 $ 1 $ 7 $ 19 $ 78 Common Stock 67 35 452 1,706 2,260 Mutual Funds 14,662 71,000 35,388 658 121,708 Bonds and Notes 110 4 14 1,232 1,360 Total $ 14,890 $ 71,040 $ 35,861 $ 3,615 $ 125,406 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

EQUITY (Tables)

EQUITY (Tables)	6 Months Ended
	Jun. 30, 2024
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: June 30, 2024 December 31, 2023 (in millions) Unrealized gains (losses) on investments $ (7,165) $ (6,363) Market risk benefits - instrument-specific credit risk component (945) (764) Liability for future policy benefits - current discount rate component 372 194 Defined benefit pension plans (4) (5) Accumulated other comprehensive income (loss) attributable to Equitable Financial $ (7,742) $ (6,938)
Schedule of Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes	The components of OCI, net of taxes were as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Change in net unrealized gains (losses) on investments: Net unrealized gains (losses) arising during the period $ (399) $ (616) $ (861) $ 836 (Gains) losses reclassified into net income (loss) during the period (1) 3 39 24 94 Net unrealized gains (losses) on investments (396) (577) (837) 930 Adjustments for policyholders’ liabilities, insurance liability loss recognition and other 29 31 35 33 Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $(91), $(310), $(206), and $7) (367) (546) (802) 963 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 $(42), $(23), $(38) and $225) (161) (88) (144) 845 Liability for future policy benefits - change in current discount rate (net of deferred income tax expense (benefit) of $15, $19, $37 and $(10) ) 58 73 141 (36) Change in defined benefit plans: Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost — — 1 — Change in defined benefit plans (net of deferred income tax expense (benefit) of $0, $0, $0 and $0) — — 1 — Change in accumulated other comprehensive income (loss) attributable to Equitable Financial $ (470) $ (561) $ (804) $ 1,772 ______________ (1) See “Reclassification adjustment” in Note 3 of the Notes to these Consolidated Financial Statements. Reclassification amounts presented net of income tax expense (benefit) of $(1) million , $(10) million , $(6) million and $(25) million for the three and six months ended June 30, 2024 and 2023, respectively.

REDEEMABLE NONCONTROLLING INT_2

REDEEMABLE NONCONTROLLING INTEREST (Tables)	6 Months Ended
	Jun. 30, 2024
Noncontrolling Interest [Abstract]
Schedule of Redeemable Noncontrolling Interest	The changes in the components of redeemable noncontrolling interests are presented in the following table: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Balance, beginning of period $ 29 $ 19 $ 24 $ 21 Net earnings (loss) attributable to redeemable noncontrolling interests — 1 1 1 Purchase/change of redeemable noncontrolling interests 1 1 5 (1) Balance, end of period $ 30 $ 21 $ 30 $ 21

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Activity of Funding Agreements	The table below summarizes the Company’s activity of funding agreements with the FHLB. Change in FHLB Funding Agreements during the Six Months Ended June 30, 2024 Outstanding Balance at December 31, 2023 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 June 30, 2024 (in millions) Short-term funding agreements: Due in one year or less $ 6,168 $ 30,425 $ (30,875) $ 125 $ — $ 5,843 Long-term funding agreements: Due in years two through five 799 — — (82) — 717 Due in more than five years 648 — — (43) — 605 Total long-term funding agreements 1,447 — — (125) — 1,322 Total funding agreements (1) $ 7,615 $ 30,425 $ (30,875) $ — $ — $ 7,165 ____________ (1) The $2 million and $3 million difference between the funding agreements carrying value shown in fair value table for June 30, 2024 and December 31, 2023, 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 Six Months Ended June 30, 2024 Outstanding Balance at December 31, 2023 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 June 30, 2024 (in millions) Short-term funding agreements: Due in one year or less $ 1,000 $ — $ — $ — $ — $ — $ 1,000 Long-term funding agreements: Due in years two through five 4,984 — — — — (19) 4,965 Due in more than five years 300 — — — — — 300 Total long-term funding agreements 5,284 — — — — (19) 5,265 Total funding agreements (1) $ 6,284 $ — $ — $ — $ — $ (19) $ 6,265 ______________ (1)

REINSURANCE (Tables)

REINSURANCE (Tables)	6 Months Ended
	Jun. 30, 2024
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: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Direct charges and fee income $ 686 $ 678 $ 1,376 $ 1,352 Reinsurance assumed 4 3 4 4 Reinsurance ceded - Equitable America (352) (345) (679) (345) Reinsurance ceded - third party (155) (153) (311) (304) Policy charges and fee income $ 183 $ 183 $ 390 $ 707 Direct premiums $ 191 $ 203 $ 393 $ 408 Reinsurance assumed 18 44 57 96 Reinsurance ceded - Equitable America (35) (40) (80) (40) Reinsurance ceded - third party (55) (51) (118) (111) Premiums $ 119 $ 156 $ 252 $ 353 Direct policyholders’ benefits $ 684 $ 742 $ 1,360 $ 1,449 Reinsurance assumed 25 39 64 77 Reinsurance ceded - Equitable America (181) (264) (369) (264) Reinsurance ceded - third party (178) (182) (338) (309) Policyholders’ benefits $ 350 $ 335 $ 717 $ 953 Direct Interest credited to policyholders’ account balances $ 484 $ 490 $ 962 $ 953 Reinsurance assumed — — — — Reinsurance ceded - Equitable America (152) (151) (306) (151) Reinsurance ceded - third party (24) (27) (50) (55) Interest credited to policyholders’ account balances $ 308 $ 312 $ 606 $ 747
Schedule of Reinsurance Retention	The following table summarizes the composition of the pool of assets: June 30, 2024 December 31, 2023 Carrying Value Fair Value Carrying Value Fair Value (in millions) Fixed maturities $ 23,018 $ 23,018 $ 24,725 $ 24,725 Mortgage loans on real estate 8,160 7,197 8,405 7,409 Policy loans 264 265 248 250 Other equity investments 190 190 238 238 Other invested assets (1) 10,704 10,704 8,256 8,257 Total assets supporting funds withheld $ 42,336 $ 41,374 $ 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: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Net derivative gains (losses): Freestanding derivatives $ 611 $ 1,364 $ 1,511 $ 1,364 Embedded derivatives (761) (1,331) (1,716) (1,331) Net derivative gains (losses) (150) 33 (205) 33 Net investment income (loss) 325 295 665 295 Investment gains (losses), net (3) (36) (38) (36) Income (loss) from continuing operations, before income taxes 172 292 422 292 Income tax (expense) benefit (36) (53) (89) (53) Net income (loss) 136 239 333 239 Change in unrealized gains (losses), net of income taxes (178) (173) (353) (173) Comprehensive income (loss) $ (42) $ 66 $ (20) $ 66
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: June 30, 2024 December 31, 2023 (in millions) Ceded Reinsurance: Estimated net fair values of purchased market risk benefits $ 14,185 $ 16,729 Reinsurance recoverables related to insurance contracts 20,383 20,636 Related party - Equitable America (1) 13,402 13,492 Third parties 6,981 7,144 Top reinsurers: First Allmerica-GAF 3,421 3,605 Venerable Insurance and Annuity Company (A- KBRA (IFRS) rating) 1,210 1,057 Ceded group health reserves 12 14 Amount due to reinsurers 179 216 Top reinsurers: First Allmerica-GAF 75 73 Assumed Reinsurance: Reinsurance assumed reserves 621 731 ______________ (1) Includes ceded PAB on NI Modco portion of the Reinsurance Treaty of $34.3 billion offset by $(31.2) billion of modco payable for the same portion of the Reinsurance Treaty.

ORGANIZATION (Details)

ORGANIZATION (Details)	6 Months Ended
	Jun. 30, 2024 principalSubsidiary
Organization [Abstract]
Number of principal subsidiaries	2

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Assets	$ 264,343	$ 263,089
Investments	84,868	86,080
Consolidated Limited Partnerships
Variable Interest Entity [Line Items]
Assets	1,300	1,100
Non-consolidated Vairable Interest Entities
Variable Interest Entity [Line Items]
Assets	342,700	268,500
Investments	2,700	2,500
Variable interest, maximum loss exposure	2,700	2,500
Unfunded commitments	$ 1,000	$ 1,200

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024 USD ($) loan issue note	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) loan issue	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) extension loan issue
Net Investment Income [Line Items]
Number of unrealized loss issues | issue	3,993		3,993		3,986
Debt securities exposure in single issuer greater than stated percentage of total investments	1%		1%
Amortized cost of fixed maturities available-for-sale	$ 61,707,000,000		$ 61,707,000,000		$ 61,884,000,000
12 months or longer, gross unrealized losses	7,823,000,000		7,823,000,000		6,836,000,000
Loaned securities	$ 128,000,000		$ 128,000,000		91,000,000
Minimum requirement percentage of the fair value of the loaned securities to be held as cash collateral	102%		102%
Cash collateral	$ 131,000,000		$ 131,000,000		93,000,000
Allowance for credit loss	$ 229,000,000	$ 145,000,000	229,000,000	$ 145,000,000	$ 277,000,000
Number of loans | loan	1				4
Number of loans split into notes | note	2
Number of notes with original loan terms | note	1
Amortized cost	$ 65,200,000				$ 236,000,000
Percentage of total commercial mortgage loans representing amortized cost					1.50%
Number of troubled debt restructuring extensions | extension					2
Separate account equity investment carrying value	55,000,000		55,000,000		$ 48,000,000
Interest credited to policyholders account balances participating group annuity contracts	0	1,000,000	0	1,000,000
Recurring
Net Investment Income [Line Items]
Trading securities, at fair value	756,000,000		756,000,000		$ 257,000,000
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	$ 86,000,000		86,000,000		$ 81,000,000
Accrued interest written off			$ 0	0
Individually Assessed Mortgage loans
Net Investment Income [Line Items]
Number of foreclosed mortgage loans | loan	1		1
Amortized cost of foreclosed mortgage loans	$ 108,000,000		$ 108,000,000
Allowance for credit loss	54,000,000		54,000,000
Cost of wholly owned real estate re-acquired	$ 56,000,000		$ 56,000,000
Number of mortgage loans, foreclosure probable | loan	0		0		0
Mortgage Loans
Net Investment Income [Line Items]
Non-accruing loans, carrying value	$ 36,000,000		$ 36,000,000		$ 127,000,000
Fixed maturities
Net Investment Income [Line Items]
Accrued investment income receivable	535,000,000		535,000,000		528,000,000
Accrued interest written off	0	$ 0	0	$ 0
Amortized cost of fixed maturities available-for-sale	61,700,000,000		61,700,000,000		61,900,000,000
Fixed maturities | Non-Investment Grade
Net Investment Income [Line Items]
Available-for-sale securities, amortized cost basis other than investment grade	$ 2,000,000,000		$ 2,000,000,000		$ 2,500,000,000
Percentage of available for sale securities	3.30%		3.30%		4.10%
Unrealized loss on available for sale securities	$ 101,000,000		$ 101,000,000		$ 102,000,000
Corporate
Net Investment Income [Line Items]
Exposure in single issuer of total investments	$ 379,000,000		$ 379,000,000		$ 360,000,000
Debt securities exposure in single issuer of total investments, percentage	15.50%		15.50%		21.90%
Amortized cost of fixed maturities available-for-sale	$ 42,209,000,000		$ 42,209,000,000		$ 42,014,000,000
12 months or longer, gross unrealized losses	$ 5,650,000,000		$ 5,650,000,000		$ 4,839,000,000

INVESTMENTS - Available-for-sal

INVESTMENTS - Available-for-sale Securities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 61,707		$ 61,707		$ 61,884
Allowance for Credit Losses	4		4		4
Gross Unrealized Gains	194		194		257
Gross Unrealized Losses	7,962		7,962		6,972
Fair Value	53,935		53,935		55,165
Amortized Cost (Less Allowance for Credit Losses)
Due in one year or less	1,720		1,720
Due in years two through five	12,032		12,032
Due in years six through ten	12,449		12,449
Due after ten years	22,770		22,770
Subtotal	48,971		48,971
Amortized Cost (Less Allowance for Credit Losses)	61,703		61,703
Fair Value
Due in one year or less	1,699		1,699
Due in years two through five	11,534		11,534
Due in years six through ten	11,344		11,344
Due after ten years	17,227		17,227
Subtotal	41,804		41,804
Fair Value	53,935		53,935		55,165
Available For Sale Fixed Maturities Proceeds Gross Gains And Gross Losses From Sales And Other Than Temporary Impairments [Abstract]
Proceeds from sales	309	$ 2,233	753	$ 2,961
Gross gains on sales	2	5	2	7
Gross losses on sales	(3)	(46)	(27)	(64)
Net (increase) decrease in Allowance for Credit and Intent to Sell losses	(3)	(7)	(5)	(62)
Fixed Maturities - Credit Loss Impairments
Balances, beginning of period	48	87	48	36
Previously recognized impairments on securities that matured, paid, prepaid or sold	(4)	(52)	(8)	(55)
Recognized impairments on securities impaired to fair value this period	0	0	0	50
Credit losses recognized this period on securities for which credit losses were not previously recognized	3	6	6	9
Additional credit losses this period on securities previously impaired	3	3	4	4
Balances, end of period	50	$ 44	50	$ 44
Corporate
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	42,209		42,209		42,014
Allowance for Credit Losses	4		4		4
Gross Unrealized Gains	157		157		217
Gross Unrealized Losses	5,774		5,774		4,960
Fair Value	36,588		36,588		37,267
Fair Value
Fair Value	36,588		36,588		37,267
U.S. Treasury, government and agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,677		5,677		5,639
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	0		0		2
Gross Unrealized Losses	1,356		1,356		1,102
Fair Value	4,321		4,321		4,539
Fair Value
Fair Value	4,321		4,321		4,539
States and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	432		432		525
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	2		2		9
Gross Unrealized Losses	71		71		64
Fair Value	363		363		470
Fair Value
Fair Value	363		363		470
Foreign governments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	657		657		689
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	1		1		2
Gross Unrealized Losses	126		126		110
Fair Value	532		532		581
Fair Value
Fair Value	532		532		581
Residential mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,642		1,642		1,469
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	2		2		3
Gross Unrealized Losses	138		138		128
Fair Value	1,506		1,506		1,344
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	1,642		1,642
Fair Value
Without single maturity date	1,506		1,506
Fair Value	1,506		1,506		1,344
Asset-backed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	7,645		7,645		8,092
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	29		29		20
Gross Unrealized Losses	72		72		107
Fair Value	7,602		7,602		8,005
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	7,645		7,645
Fair Value
Without single maturity date	7,602		7,602
Fair Value	7,602		7,602		8,005
Commercial mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,389		3,389		3,400
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	1		1		1
Gross Unrealized Losses	425		425		501
Fair Value	2,965		2,965		2,900
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	3,389		3,389
Fair Value
Without single maturity date	2,965		2,965
Fair Value	2,965		2,965		2,900
Redeemable preferred stock
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	56		56		56
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	2		2		3
Gross Unrealized Losses	0		0		0
Fair Value	58		58		59
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	56		56
Fair Value
Without single maturity date	58		58
Fair Value	$ 58		$ 58		$ 59

INVESTMENTS - Net Unrealized Ga

INVESTMENTS - Net Unrealized Gains (Losses) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Beginning balance	$ (2,039)	$ 1,228	$ (1,641)	$ (1,074)
Net unrealized investment gains (losses)	(396)	(577)	(837)	930
Ending balance	(2,451)	48	(2,451)	48
Unrealized gains (losses) on investments
Debt Securities, Available-For-Sale, Net Unrealized Investments [Roll Forward]
Beginning balance			(6,363)
Ending balance	(7,165)		(7,165)
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	(7,274)	(7,609)	(6,715)	(9,116)
Net investment gains (losses) arising during the period	(499)	(629)	(1,080)	815
Included in net income (loss)	4	50	30	120
Excluded from net income (loss)	0	0
Other	0	0	0	0
Impact of net unrealized investment gains (losses)	0	0	0	0
Ending balance	(7,768)	(8,187)	(7,768)	(8,187)
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	17	18	13	21
Net investment gains (losses) arising during the period	0	0	0	0
Included in net income (loss)	0	0	0	0
Excluded from net income (loss)	0	0
Other	0	0	0	0
Impact of net unrealized investment gains (losses)	2	(7)	6	(10)
Ending balance	19	11	19	11
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	344	422	227	421
Net investment gains (losses) arising during the period	0	0	0	0
Included in net income (loss)	0	0	0	0
Excluded from net income (loss)	0	0
Other	(5)	(122)	(5)	195
Impact of net unrealized investment gains (losses)	103	123	219	(194)
Ending balance	442	423	442	423
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	(6,913)	(7,169)	(6,475)	(8,674)
Net investment gains (losses) arising during the period	(499)	(629)	(1,080)	815
Included in net income (loss)	4	50	30	120
Excluded from net income (loss)	0	0
Other	(5)	(122)	(5)	195
Impact of net unrealized investment gains (losses)	105	116	225	(204)
Ending balance	(7,307)	(7,753)	(7,307)	(7,753)
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)	(7,769)	(8,188)	(7,765)	(8,181)
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)	19	11	19	11
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)	442	423	441	422
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)	(7,308)	(7,754)	(7,305)	(7,748)
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)	1	1	(3)	(6)
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	0	0
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)	0	0	1	1
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)	$ 1	$ 1	$ (2)	$ (5)

INVESTMENTS - Fixed Maturities

INVESTMENTS - Fixed Maturities Available-for-sale (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Less than twelve months, fair value	$ 4,549	$ 2,196
Less than 12 months, gross unrealized losses	135	134
12 months or longer, fair value	37,809	44,061
12 months or longer, gross unrealized losses	7,823	6,836
Total fair value	42,358	46,257
Total gross unrealized losses	7,958	6,970
Corporate
Debt Securities, Available-for-sale [Line Items]
Less than twelve months, fair value	3,350	1,693
Less than 12 months, gross unrealized losses	120	119
12 months or longer, fair value	27,919	29,617
12 months or longer, gross unrealized losses	5,650	4,839
Total fair value	31,269	31,310
Total gross unrealized losses	5,770	4,958
U.S. Treasury, government and agency
Debt Securities, Available-for-sale [Line Items]
Less than twelve months, fair value	12	111
Less than 12 months, gross unrealized losses	0	2
12 months or longer, fair value	4,252	4,361
12 months or longer, gross unrealized losses	1,356	1,100
Total fair value	4,264	4,472
Total gross unrealized losses	1,356	1,102
States and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Less than twelve months, fair value	43	10
Less than 12 months, gross unrealized losses	0	0
12 months or longer, fair value	223	244
12 months or longer, gross unrealized losses	71	64
Total fair value	266	254
Total gross unrealized losses	71	64
Foreign governments
Debt Securities, Available-for-sale [Line Items]
Less than twelve months, fair value	35	8
Less than 12 months, gross unrealized losses	2	1
12 months or longer, fair value	474	514
12 months or longer, gross unrealized losses	124	109
Total fair value	509	522
Total gross unrealized losses	126	110
Residential mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Less than twelve months, fair value	302	74
Less than 12 months, gross unrealized losses	2	1
12 months or longer, fair value	968	1,030
12 months or longer, gross unrealized losses	136	127
Total fair value	1,270	1,104
Total gross unrealized losses	138	128
Asset-backed
Debt Securities, Available-for-sale [Line Items]
Less than twelve months, fair value	714	238
Less than 12 months, gross unrealized losses	2	0
12 months or longer, fair value	1,171	5,499
12 months or longer, gross unrealized losses	70	107
Total fair value	1,885	5,737
Total gross unrealized losses	72	107
Commercial mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Less than twelve months, fair value	93	62
Less than 12 months, gross unrealized losses	9	11
12 months or longer, fair value	2,802	2,796
12 months or longer, gross unrealized losses	416	490
Total fair value	2,895	2,858
Total gross unrealized losses	$ 425	$ 501

INVESTMENTS - Mortgage Loans (D

INVESTMENTS - Mortgage Loans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period			$ 277
Balance, end of period	$ 229	$ 145	229	$ 145
Commercial mortgages:
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	284	133	270	123
Current-period provision for expected credit losses	9	7	23	17
Write-offs charged against the allowance	(75)	0	(75)	0
Recoveries of amounts previously written off	0	0	0	0
Net change in allowance	(66)	7	(52)	17
Balance, end of period	218	140	218	140
Agricultural mortgages:
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	6	6	6	6
Current-period provision for expected credit losses	3	(1)	3	(1)
Write-offs charged against the allowance	0	0	0	0
Recoveries of amounts previously written off	0	0	0	0
Net change in allowance	3	(1)	3	(1)
Balance, end of period	9	5	9	5
Residential mortgages:
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	3	0	1	0
Current-period provision for expected credit losses	(1)	0	1	0
Write-offs charged against the allowance	0	0	0	0
Recoveries of amounts previously written off	0	0	0	0
Net change in allowance	(1)	0	1	0
Balance, end of period	$ 2	$ 0	$ 2	$ 0

INVESTMENTS - Credit Quality (D

INVESTMENTS - Credit Quality (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	$ 18,174	$ 18,154
Total accruing loans	18,105	17,901
Non-accruing Loans	69	253
Non-accruing Loans with No Allowance	0	0
Interest Income on Non-accruing Loans	0	7
Past Due
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	49	84
30-59 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	16	39
60-89 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	6	5
90 Days or More
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	27	40
Current
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	18,056	17,817
Total commercial and agricultural mortgage loans:
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	193	1,364
Fiscal year before current fiscal year	1,360	3,585
Two years before current fiscal year	3,508	2,445
Three years before current fiscal year	2,434	1,798
Four years before current fiscal year	1,777	826
Prior	7,632	7,207
Revolving Loans Amortized Cost Basis	572	500
Revolving Loans Converted to Term Loans Amortized Cost Basis	242	131
Total	17,718	17,856
Total commercial and agricultural mortgage loans: | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	8	182
Fiscal year before current fiscal year	182	743
Two years before current fiscal year	735	1,161
Three years before current fiscal year	1,256	1,194
Four years before current fiscal year	1,190	269
Prior	3,709	3,435
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	7,080	6,984
Total commercial and agricultural mortgage loans: | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	11	18
Fiscal year before current fiscal year	17	16
Two years before current fiscal year	24	238
Three years before current fiscal year	263	200
Four years before current fiscal year	195	194
Prior	629	723
Revolving Loans Amortized Cost Basis	231	383
Revolving Loans Converted to Term Loans Amortized Cost Basis	206	96
Total	1,576	1,868
Total commercial and agricultural mortgage loans: | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	47	92
Fiscal year before current fiscal year	153	1,110
Two years before current fiscal year	857	265
Three years before current fiscal year	171	109
Four years before current fiscal year	110	179
Prior	1,198	1,117
Revolving Loans Amortized Cost Basis	113	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	2,649	2,872
Total commercial and agricultural mortgage loans: | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	20	515
Fiscal year before current fiscal year	509	798
Two years before current fiscal year	1,273	605
Three years before current fiscal year	569	170
Four years before current fiscal year	218	109
Prior	1,266	1,203
Revolving Loans Amortized Cost Basis	0	41
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	3,855	3,441
Total commercial and agricultural mortgage loans: | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	96	517
Fiscal year before current fiscal year	459	725
Two years before current fiscal year	424	106
Three years before current fiscal year	130	57
Four years before current fiscal year	56	69
Prior	740	601
Revolving Loans Amortized Cost Basis	228	76
Revolving Loans Converted to Term Loans Amortized Cost Basis	36	35
Total	2,169	2,186
Total commercial and agricultural mortgage loans: | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	11	40
Fiscal year before current fiscal year	40	193
Two years before current fiscal year	195	70
Three years before current fiscal year	45	68
Four years before current fiscal year	8	6
Prior	90	128
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	389	505
Total commercial and agricultural mortgage loans: | 0% - 50%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	23	293
Fiscal year before current fiscal year	352	326
Two years before current fiscal year	299	320
Three years before current fiscal year	318	270
Four years before current fiscal year	283	132
Prior	2,477	2,342
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	3,752	3,683
Total commercial and agricultural mortgage loans: | 50% - 70%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	170	763
Fiscal year before current fiscal year	766	2,062
Two years before current fiscal year	1,466	823
Three years before current fiscal year	813	951
Four years before current fiscal year	888	357
Prior	2,611	2,607
Revolving Loans Amortized Cost Basis	495	463
Revolving Loans Converted to Term Loans Amortized Cost Basis	206	96
Total	7,415	8,122
Total commercial and agricultural mortgage loans: | 70% - 90%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	308
Fiscal year before current fiscal year	242	1,197
Two years before current fiscal year	1,276	1,236
Three years before current fiscal year	1,145	523
Four years before current fiscal year	515	245
Prior	1,711	1,400
Revolving Loans Amortized Cost Basis	77	37
Revolving Loans Converted to Term Loans Amortized Cost Basis	36	35
Total	5,002	4,981
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	467	66
Three years before current fiscal year	158	54
Four years before current fiscal year	91	92
Prior	833	858
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	1,549	1,070
Commercial:
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	73	1,202
Fiscal year before current fiscal year	1,199	3,277
Two years before current fiscal year	3,209	2,102
Three years before current fiscal year	2,097	1,362
Four years before current fiscal year	1,357	636
Prior	6,407	6,101
Revolving Loans Amortized Cost Basis	572	500
Revolving Loans Converted to Term Loans Amortized Cost Basis	242	131
Total	15,156	15,311
Total accruing loans	15,123	15,077
Non-accruing Loans	33	234
Non-accruing Loans with No Allowance	0	0
Interest Income on Non-accruing Loans	0	7
Commercial: | Past Due
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	0	32
Commercial: | 30-59 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	0	32
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	15,123	15,045
Commercial: | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	175
Fiscal year before current fiscal year	175	693
Two years before current fiscal year	693	1,125
Three years before current fiscal year	1,222	1,135
Four years before current fiscal year	1,131	249
Prior	3,527	3,256
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	6,748	6,633
Commercial: | 1.8x to 2.0x
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	182
Three years before current fiscal year	208	167
Four years before current fiscal year	166	171
Prior	549	662
Revolving Loans Amortized Cost Basis	231	383
Revolving Loans Converted to Term Loans Amortized Cost Basis	206	96
Total	1,360	1,661
Commercial: | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	80
Fiscal year before current fiscal year	141	1,060
Two years before current fiscal year	808	234
Three years before current fiscal year	143	0
Four years before current fiscal year	0	162
Prior	992	924
Revolving Loans Amortized Cost Basis	113	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	2,197	2,460
Commercial: | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	469
Fiscal year before current fiscal year	463	687
Two years before current fiscal year	1,168	457
Three years before current fiscal year	429	0
Four years before current fiscal year	60	11
Prior	838	838
Revolving Loans Amortized Cost Basis	0	41
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	2,958	2,503
Commercial: | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	73	470
Fiscal year before current fiscal year	412	668
Two years before current fiscal year	369	38
Three years before current fiscal year	61	0
Four years before current fiscal year	0	43
Prior	443	317
Revolving Loans Amortized Cost Basis	228	76
Revolving Loans Converted to Term Loans Amortized Cost Basis	36	35
Total	1,622	1,647
Commercial: | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	8
Fiscal year before current fiscal year	8	169
Two years before current fiscal year	171	66
Three years before current fiscal year	34	60
Four years before current fiscal year	0	0
Prior	58	104
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	271	407
Commercial: | 0% - 50%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	191
Fiscal year before current fiscal year	251	164
Two years before current fiscal year	140	129
Three years before current fiscal year	130	35
Four years before current fiscal year	35	0
Prior	1,574	1,540
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	2,130	2,059
Commercial: | 50% - 70%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	73	703
Fiscal year before current fiscal year	706	1,916
Two years before current fiscal year	1,326	671
Three years before current fiscal year	664	750
Four years before current fiscal year	716	299
Prior	2,305	2,319
Revolving Loans Amortized Cost Basis	495	463
Revolving Loans Converted to Term Loans Amortized Cost Basis	206	96
Total	6,491	7,217
Commercial: | 70% - 90%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	308
Fiscal year before current fiscal year	242	1,197
Two years before current fiscal year	1,276	1,236
Three years before current fiscal year	1,145	523
Four years before current fiscal year	515	245
Prior	1,695	1,384
Revolving Loans Amortized Cost Basis	77	37
Revolving Loans Converted to Term Loans Amortized Cost Basis	36	35
Total	4,986	4,965
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	467	66
Three years before current fiscal year	158	54
Four years before current fiscal year	91	92
Prior	833	858
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	1,549	1,070
Agricultural:
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	120	162
Fiscal year before current fiscal year	161	308
Two years before current fiscal year	299	343
Three years before current fiscal year	337	436
Four years before current fiscal year	420	190
Prior	1,225	1,106
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	2,562	2,545
Total accruing loans	2,526	2,526
Non-accruing Loans	36	19
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	49	52
Agricultural: | 30-59 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	16	7
Agricultural: | 60-89 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	6	5
Agricultural: | 90 Days or More
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	27	40
Agricultural: | Current
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total accruing loans	2,477	2,474
Agricultural: | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	8	7
Fiscal year before current fiscal year	7	50
Two years before current fiscal year	42	36
Three years before current fiscal year	34	59
Four years before current fiscal year	59	20
Prior	182	179
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	332	351
Agricultural: | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	11	18
Fiscal year before current fiscal year	17	16
Two years before current fiscal year	24	56
Three years before current fiscal year	55	33
Four years before current fiscal year	29	23
Prior	80	61
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	216	207
Agricultural: | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	47	12
Fiscal year before current fiscal year	12	50
Two years before current fiscal year	49	31
Three years before current fiscal year	28	109
Four years before current fiscal year	110	17
Prior	206	193
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	452	412
Agricultural: | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	20	46
Fiscal year before current fiscal year	46	111
Two years before current fiscal year	105	148
Three years before current fiscal year	140	170
Four years before current fiscal year	158	98
Prior	428	365
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	897	938
Agricultural: | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	23	47
Fiscal year before current fiscal year	47	57
Two years before current fiscal year	55	68
Three years before current fiscal year	69	57
Four years before current fiscal year	56	26
Prior	297	284
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	547	539
Agricultural: | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	11	32
Fiscal year before current fiscal year	32	24
Two years before current fiscal year	24	4
Three years before current fiscal year	11	8
Four years before current fiscal year	8	6
Prior	32	24
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	118	98
Agricultural: | 0% - 50%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	23	102
Fiscal year before current fiscal year	101	162
Two years before current fiscal year	159	191
Three years before current fiscal year	188	235
Four years before current fiscal year	248	132
Prior	903	802
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	1,622	1,624
Agricultural: | 50% - 70%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	97	60
Fiscal year before current fiscal year	60	146
Two years before current fiscal year	140	152
Three years before current fiscal year	149	201
Four years before current fiscal year	172	58
Prior	306	288
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	924	905
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
Residential mortgages:
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	98
Fiscal year before current fiscal year	263	121
Two years before current fiscal year	117	74
Three years before current fiscal year	72	2
Four years before current fiscal year	2	1
Prior	2	2
Total	456	298
Total accruing loans	456	298
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	$ 456	$ 298

INVESTMENTS - Amortized Cost of

INVESTMENTS - Amortized Cost of Loans by Credit Quality Indicator and Origination Year (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Amortized Cost Basis by Origination Year
Total	$ 18,174	$ 18,154
Residential mortgages:
Amortized Cost Basis by Origination Year
Current fiscal year	0	98
Fiscal year before current fiscal year	263	121
Two years before current fiscal year	117	74
Three years before current fiscal year	72	2
Four years before current fiscal year	2	1
Prior	2	2
Total	456	298
Residential mortgages: | Performing
Amortized Cost Basis by Origination Year
Current fiscal year	0	98
Fiscal year before current fiscal year	263	121
Two years before current fiscal year	117	74
Three years before current fiscal year	72	2
Four years before current fiscal year	2	1
Prior	2	2
Total	456	298
Residential mortgages: | Nonperforming
Amortized Cost Basis by Origination Year
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
Total	$ 0	$ 0

INVESTMENTS - Equity Securities

INVESTMENTS - Equity Securities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Net investment gains (losses) recognized during the period on securities held at the end of the period	$ (5)	$ 7	$ 10	$ 6
Net investment gains (losses) recognized on securities sold during the period	2	(2)	1	(2)
Unrealized and realized gains (losses) on equity securities	$ (3)	$ 5	$ 11	$ 4

INVESTMENTS - Trading Securitie

INVESTMENTS - Trading Securities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Net investment gains (losses) recognized during the period on securities held at the end of the period	$ 0	$ 4	$ 15	$ 17
Net investment gains (losses) recognized on securities sold during the period	0	(1)	0	(2)
Unrealized and realized gains (losses) on trading securities	0	3	15	15
Interest and dividend income from trading securities	4	2	5	4
Net investment income (loss) from trading securities	$ 4	$ 5	$ 20	$ 19

INVESTMENTS - Net Investment In

INVESTMENTS - Net Investment Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net Investment Income [Line Items]
Gross investment income (loss)	$ 956	$ 961	$ 1,976	$ 1,898
Investment expenses	(90)	(76)	(176)	(155)
Net investment income (loss)	866	885	1,800	1,743
Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	599	636	1,245	1,573
Investment expenses	(58)	(46)	(110)	(125)
Net investment income (loss)	541	590	1,135	1,448
Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	357	325	731	325
Investment expenses	(32)	(30)	(66)	(30)
Net investment income (loss)	325	295	665	295
Fixed maturities
Net Investment Income [Line Items]
Gross investment income (loss)	641	688	1,304	1,359
Fixed maturities | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	386	416	777	1,087
Fixed maturities | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	255	272	527	272
Mortgage loans on real estate
Net Investment Income [Line Items]
Gross investment income (loss)	228	198	456	375
Mortgage loans on real estate | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	145	111	287	288
Mortgage loans on real estate | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	83	87	169	87
Policy loans
Net Investment Income [Line Items]
Gross investment income (loss)	50	49	101	97
Policy loans | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	46	49	94	97
Policy loans | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	4	0	7	0
Other equity investments
Net Investment Income [Line Items]
Gross investment income (loss)	45	14	108	35
Other equity investments | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	41	49	96	70
Other equity investments | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	4	(35)	12	(35)
Trading securities
Net Investment Income [Line Items]
Gross investment income (loss)	4	5	20	19
Trading securities | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	4	5	20	19
Trading securities | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	0	0	0	0
Other investment income
Net Investment Income [Line Items]
Gross investment income (loss)	(12)	7	(13)	13
Other investment income | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	(23)	6	(29)	12
Other investment income | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Gross investment income (loss)	$ 11	$ 1	$ 16	$ 1

INVESTMENTS - Investment Gains

INVESTMENTS - Investment Gains (Losses), Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net Investment Income [Line Items]
Investment gains (losses), net	$ (18)	$ (58)	$ (56)	$ (136)
Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	(16)	(22)	(18)	(100)
Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	(2)	(36)	(38)	(36)
Fixed maturities
Net Investment Income [Line Items]
Investment gains (losses), net	(4)	(49)	(30)	(120)
Fixed maturities | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	(3)	(15)	(6)	(86)
Fixed maturities | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	(1)	(34)	(24)	(34)
Mortgage loans on real estate
Net Investment Income [Line Items]
Investment gains (losses), net	(13)	(7)	(29)	(16)
Mortgage loans on real estate | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	(12)	(5)	(15)	(14)
Mortgage loans on real estate | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	(1)	(2)	(14)	(2)
Other equity investments
Net Investment Income [Line Items]
Investment gains (losses), net	0	0	0	0
Other equity investments | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	0	0	0	0
Other equity investments | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	0	0	0	0
Other
Net Investment Income [Line Items]
Investment gains (losses), net	(1)	(2)	3	0
Other | Excluding Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	(1)	(2)	3	0
Other | Funds Withheld and NI Modco
Net Investment Income [Line Items]
Investment gains (losses), net	$ 0	$ 0	$ 0	$ 0

DERIVATIVES - Derivatives by Ca

DERIVATIVES - Derivatives by Category (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Total derivative instruments
Derivatives, Fair Value [Line Items]
Notional Amount	$ 19,045	$ 17,227
Notional Amount - FWH and NI Modco	70,399	66,813
Derivative Assets	12,186	9,189
Derivative Assets - FWH and NI Modco	12,291	10,034
Derivative Liabilities	24,537	18,412
Derivative Liabilities - FWH and NI Modco	2,497	2,204
Net Derivatives	(2,557)	(1,393)
Total embedded derivatives
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Notional Amount - FWH and NI Modco	0	0
Derivative Assets	8,777	6,729
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	11,669	9,181
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	(2,892)	(2,452)
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	8,960	7,140
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	11,756	9,081
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	(2,796)	(1,941)
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	(87)	100
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	87	(100)
Modco payable
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Notional Amount - FWH and NI Modco	0	0
Derivative Assets	(183)	(411)
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	0	0
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	(183)	(411)
Derivatives: not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Notional Amount	15,464	13,917
Notional Amount - FWH and NI Modco	70,399	66,813
Derivative Assets	3,310	2,381
Derivative Assets - FWH and NI Modco	12,291	10,034
Derivative Liabilities	12,448	8,830
Derivative Liabilities - FWH and NI Modco	2,497	2,204
Net Derivatives	656	1,381
Derivatives: not designated for hedge accounting | Currency swaps
Derivatives, Fair Value [Line Items]
Notional Amount	803	823
Notional Amount - FWH and NI Modco	0	0
Derivative Assets	3	0
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	4	27
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	(1)	(27)
Derivatives: not designated for hedge accounting | Interest swaps
Derivatives, Fair Value [Line Items]
Notional Amount	526	495
Notional Amount - FWH and NI Modco	2,055	2,381
Derivative Assets	1	34
Derivative Assets - FWH and NI Modco	17	83
Derivative Liabilities	4	1
Derivative Liabilities - FWH and NI Modco	16	1
Net Derivatives	(2)	115
Derivatives: not designated for hedge accounting | Futures
Derivatives, Fair Value [Line Items]
Notional Amount	2,349	2,055
Notional Amount - FWH and NI Modco	3,206	3,429
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	840	1,996
Notional Amount - FWH and NI Modco	14,197	12,930
Derivative Assets	3	7
Derivative Assets - FWH and NI Modco	51	45
Derivative Liabilities	0	0
Derivative Liabilities - FWH and NI Modco	17	0
Net Derivatives	37	52
Derivatives: not designated for hedge accounting | Options
Derivatives, Fair Value [Line Items]
Notional Amount	9,311	7,445
Notional Amount - FWH and NI Modco	44,777	41,501
Derivative Assets	3,091	2,169
Derivative Assets - FWH and NI Modco	12,019	9,675
Derivative Liabilities	728	524
Derivative Liabilities - FWH and NI Modco	2,464	2,203
Net Derivatives	11,918	9,117
Derivatives: not designated for hedge accounting | Futures
Derivatives, Fair Value [Line Items]
Notional Amount	1,533	1,000
Notional Amount - FWH and NI Modco	6,164	6,572
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	102	103
Notional Amount - FWH and NI Modco	0	0
Derivative Assets	0	0
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	1	2
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	(1)	(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	99	96
Derivative Assets - FWH and NI Modco	204	231
Derivative Liabilities	0	0
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	303	327
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	113	75
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	11,711	8,276
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	(11,598)	(8,201)
Cash flow hedges: | Derivatives: designated for hedge accounting
Derivatives, Fair Value [Line Items]
Notional Amount	3,581	3,310
Notional Amount - FWH and NI Modco	0	0
Derivative Assets	99	79
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	420	401
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	(321)	(322)
Cash flow hedges: | Derivatives: designated for hedge accounting | Currency swaps
Derivatives, Fair Value [Line Items]
Notional Amount	2,629	2,358
Notional Amount - FWH and NI Modco	0	0
Derivative Assets	99	79
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	92	90
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	7	(11)
Cash flow hedges: | Derivatives: designated for hedge accounting | Interest swaps
Derivatives, Fair Value [Line Items]
Notional Amount	952	952
Notional Amount - FWH and NI Modco	0	0
Derivative Assets	0	0
Derivative Assets - FWH and NI Modco	0	0
Derivative Liabilities	328	311
Derivative Liabilities - FWH and NI Modco	0	0
Net Derivatives	$ (328)	$ (311)

DERIVATIVES - Financial Stateme

DERIVATIVES - Financial Statement Impact of Derivatives By Category (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	$ (221)	$ (221)	$ (542)	$ (1,062)
Net Investment Income	866	885	1,800	1,743
Total derivatives
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(826)	(1,581)	(2,040)	(2,418)
Net-FWH and NI modco Derivatives Gains (Losses)	611	1,364	1,511	1,364
Net Investment Income	(13)	2	(7)	5
Interest Credited To Policyholders Account Balances	(5)	8	(23)	(26)
AOCI	35	33	44	30
Investment fees	6	4	11	8
Total embedded derivatives
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(1,016)	(1,784)	(2,570)	(3,358)
Net-FWH and NI modco Derivatives Gains (Losses)	0	0	0	0
Net Investment Income	0	0	0	0
Interest Credited To Policyholders Account Balances	0	0	0	0
AOCI	0	0	0	0
SCS, SIO, MSO and IUL indexed features
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(255)	(453)	(854)	(2,027)
Net-FWH and NI modco Derivatives Gains (Losses)	0	0	0	0
Net Investment Income	0	0	0	0
Interest Credited To Policyholders Account Balances	0	0	0	0
AOCI	0	0	0	0
Funds withheld payable
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	89	599	1,106	599
Net-FWH and NI modco Derivatives Gains (Losses)	0	0	0	0
Net Investment Income	0	0	0	0
Interest Credited To Policyholders Account Balances	0	0	0	0
AOCI	0	0	0	0
Modco payable
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(850)	(1,930)	(2,822)	(1,930)
Net-FWH and NI modco Derivatives Gains (Losses)	0	0	0	0
Net Investment Income	0	0	0	0
Interest Credited To Policyholders Account Balances	0	0	0	0
AOCI	0	0	0	0
Derivatives: not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	190	217	529	951
Net-FWH and NI modco Derivatives Gains (Losses)	611		1,511
Net Investment Income	0	0	0	0
Interest Credited To Policyholders Account Balances	0	0	0	0
AOCI	0	0	0	0
Derivatives: not designated for hedge accounting | Currency swaps
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	1	(9)	14	(19)
Net-FWH and NI modco Derivatives Gains (Losses)	0	0	0	0
Net Investment Income	0	0	0	0
Interest Credited To Policyholders Account Balances	0	0	0	0
AOCI	0	0	0	0
Derivatives: not designated for hedge accounting | Interest swaps
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(15)	(61)	(43)	(14)
Net-FWH and NI modco Derivatives Gains (Losses)	(74)	5	(210)	5
Net Investment Income	0	0	0	0
Interest Credited To Policyholders Account Balances	0	0	0	0
AOCI	0	0	0	0
Derivatives: not designated for hedge accounting | Futures
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	15	58	115	(96)
Net-FWH and NI modco Derivatives Gains (Losses)	(33)	(158)	(46)	(158)
Net Investment Income	0	0	0	0
Interest Credited To Policyholders Account Balances	0	0	0	0
AOCI	0	0	0	0
Derivatives: not designated for hedge accounting | Swaps
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(10)	(113)	(158)	(716)
Net-FWH and NI modco Derivatives Gains (Losses)	(87)	(591)	(1,050)	(591)
Net Investment Income	0	0	0	0
Interest Credited To Policyholders Account Balances	0	0	0	0
AOCI	0	0	0	0
Derivatives: not designated for hedge accounting | Options
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	217	361	656	1,858
Net-FWH and NI modco Derivatives Gains (Losses)	770	2,032	2,732	2,032
Net Investment Income	0	0	0	0
Interest Credited To Policyholders Account Balances	0	0	0	0
AOCI	0	0	0	0
Derivatives: not designated for hedge accounting | Futures
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(18)	(19)	(55)	(62)
Net-FWH and NI modco Derivatives Gains (Losses)	35	76	85	76
Net Investment Income	0	0	0	0
Interest Credited To Policyholders Account Balances	0	0	0	0
AOCI	0	0	0	0
Derivatives: not designated for hedge accounting | Swaptions
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	0		0
Net-FWH and NI modco Derivatives Gains (Losses)	0		0
Net Investment Income	0		0
Interest Credited To Policyholders Account Balances	0		0
AOCI	0		0
Derivatives: not designated for hedge accounting | Credit default swaps
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	0	0	0	0
Net-FWH and NI modco Derivatives Gains (Losses)	0	0	0	0
Net Investment Income	0	0	0	0
Interest Credited To Policyholders Account Balances	0	0	0	0
AOCI	0	0	0	0
Derivatives: not designated for hedge accounting | Currency forwards
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)		0		0
Net-FWH and NI modco Derivatives Gains (Losses)		0		0
Net Investment Income		0		0
Interest Credited To Policyholders Account Balances		0		0
AOCI		0		0
Derivatives: not designated for hedge accounting | Margin
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	0	0	0	0
Net-FWH and NI modco Derivatives Gains (Losses)	0	0	0	0
Net Investment Income	0	0	0	0
Interest Credited To Policyholders Account Balances	0	0	0	0
AOCI	0	0	0	0
Derivatives: not designated for hedge accounting | Collateral
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	0	0	0	0
Net-FWH and NI modco Derivatives Gains (Losses)	0	0	0	0
Net Investment Income	0	0	0	0
Interest Credited To Policyholders Account Balances	0	0	0	0
AOCI	0	0	0	0
Cash flow hedges: | Derivatives: designated for hedge accounting
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	0	(14)	1	(11)
Net-FWH and NI modco Derivatives Gains (Losses)	0		0
Net Investment Income	(13)	2	(7)	5
Interest Credited To Policyholders Account Balances	(5)	8	(23)	(26)
AOCI	35	33	44	30
Cash flow hedges: | Derivatives: designated for hedge accounting | Currency swaps
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	0	2	1	10
Net-FWH and NI modco Derivatives Gains (Losses)	0	0	0	0
Net Investment Income	4	2	7	5
Interest Credited To Policyholders Account Balances	(5)	8	(23)	(26)
AOCI	22	3	38	28
Cash flow hedges: | Derivatives: designated for hedge accounting | Interest swaps
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	0	(16)	0	(21)
Net-FWH and NI modco Derivatives Gains (Losses)	0	0	0	0
Net Investment Income	(17)	0	(14)	0
Interest Credited To Policyholders Account Balances	0	0	0	0
AOCI	$ 13	30	$ 6	2
Cash flow hedges: | Derivatives: not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Net-FWH and NI modco Derivatives Gains (Losses)		$ 1,364		$ 1,364

DERIVATIVES - Rollforward for C

DERIVATIVES - Rollforward for Cash Flows Hedges in AOCI (Details) - Cash flow hedges recognized in AOCI - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	$ (21)	$ 19	$ (31)	$ 22
Amount recorded in AOCI	10	23	2	(21)
Amount reclassified (to) from income to AOCI	24	10	42	51
Balance, end of period	13	52	13	52
Currency swaps
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Amount recorded in AOCI	19	13	19	6
Amount reclassified (to) from income to AOCI	3	(10)	20	22
Interest swaps
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Amount recorded in AOCI	(9)	10	(17)	(27)
Amount reclassified (to) from income to AOCI	$ 21	$ 20	$ 22	$ 29

DERIVATIVES - Narrative (Detail

DERIVATIVES - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Cash and securities collateral for derivative contract	$ 11,700	$ 8,300
Cash and securities collateral	113	75
S&P 500, Russell 1000, NASDAQ 100 and Emerging Market Indices
Derivative [Line Items]
Initial margin requirements	231	248
Us Treasury Notes Ultra Long Bonds And Euro Dollar
Derivative [Line Items]
Initial margin requirements	92	100
Euro Stoxx, FTSE100, Topix, ASX200 and EAFE Indices
Derivative [Line Items]
Initial margin requirements	$ 13	$ 14

DERIVATIVES - Offsetting of Fin

DERIVATIVES - Offsetting of Financial Assets and Liabilities and Derivative Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Derivative
Assets:
Gross Amount Recognized	$ 15,700	$ 12,495
Gross Amount Offset in the Balance Sheets	12,268	8,326
Net Amount Presented in the Balance Sheets	3,432	4,169
Gross Amount not Offset in the Balance Sheets	(2,944)	(3,076)
Net Amount	488	1,093
Liabilities:
Gross Amount Recognized	12,422	8,359
Gross Amount Offset in the Balance Sheets	12,268	8,326
Net Amount Presented in the Balance Sheets	154	33
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	154	33
Secured lending
Assets:
Gross Amount Recognized	131	93
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	131	93
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	131	93
Liabilities:
Gross Amount Recognized	131	93
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	131	93
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	131	93
Other financial assets
Assets:
Gross Amount Recognized	1,603	1,690
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	1,603	1,690
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	1,603	1,690
Other invested assets
Assets:
Gross Amount Recognized	17,434	14,278
Gross Amount Offset in the Balance Sheets	12,268	8,326
Net Amount Presented in the Balance Sheets	5,166	5,952
Gross Amount not Offset in the Balance Sheets	(2,944)	(3,076)
Net Amount	2,222	2,876
Other financial liabilities
Liabilities:
Gross Amount Recognized	2,423	2,370
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	2,423	2,370
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	2,423	2,370
Other liabilities
Liabilities:
Gross Amount Recognized	14,976	10,822
Gross Amount Offset in the Balance Sheets	12,268	8,326
Net Amount Presented in the Balance Sheets	2,708	2,496
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	$ 2,708	$ 2,496

CLOSED BLOCK - Summarized Finan

CLOSED BLOCK - Summarized Financial Information for Closed Block (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Closed Block Liabilities:
Future policy benefits, policyholders’ account balances and other	$ 5,326	$ 5,461
Other liabilities	55	57
Total Closed Block liabilities	5,381	5,518
Assets Designated to the Closed Block:
Fixed maturities AFS, at fair value (amortized cost of $2,924 and $2,945) (allowance for credit losses of $0 and $0)	2,752	2,800
Mortgage loans on real estate (net of allowance for credit losses of $14 and $13)	1,544	1,612
Policy loans	538	554
Cash and other invested assets	10	58
Other assets	185	150
Total assets designated to the Closed Block	5,029	5,174
Excess of Closed Block liabilities over assets designated to the Closed Block	352	344
Amounts included in AOCI:
Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $0 and $0; and net of income tax: $36 and $31	(136)	(115)
Maximum future earnings to be recognized from Closed Block assets and liabilities	216	229
Amortized cost of fixed maturities AFS	2,924	2,945
Allowance for credit losses of fixed maturities AFS	0	0
Allowance for credit losses of mortgage loans on real estate	14	13
Policy holders' dividend obligations on net unrealized investment gains (losses)	0	0
Income tax on net unrealized investment gains (losses)	$ 36	$ 31

CLOSED BLOCK - Revenues and Exp

CLOSED BLOCK - Revenues and Expenses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Premiums and other income	$ 26	$ 29	$ 55	$ 59
Net investment income (loss)	51	52	103	103
Investment gains (losses), net	0	0	(1)	0
Total revenues	77	81	157	162
Benefits and Other Deductions:
Policyholders’ benefits and dividends	64	75	141	158
Other operating costs and expenses	0	0	0	0
Total benefits and other deductions	64	75	141	158
Net income (loss), before income taxes	13	6	16	4
Income tax (expense) benefit	(2)	(1)	(3)	(2)
Net income (loss)	$ 11	$ 5	$ 13	$ 2

DAC AND OTHER DEFERRED ASSETS_3

DAC AND OTHER DEFERRED ASSETS/LIABILITIES - Reconciliation of DAC (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	$ 4,722	$ 4,759
Term | Protection Solutions
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	326	338
UL | Protection Solutions
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	25	22
VUL | Protection Solutions
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	217	182
GMxB Core | Individual Retirement
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	1,432	1,483
EQUI-VEST Individual | Individual Retirement
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	147	150
Investment Edge | Individual Retirement
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	150	150
SCS | Individual Retirement
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	1,278	1,282
GMxB Legacy | Legacy Segment
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	205	208
EQUI-VEST Group | Group Retirement
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	725	723
Momentum | Group Retirement
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	85	82
Closed Block | Corporate and Others
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	112	117
Others | Corporate and Others
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	$ 20	$ 22

DAC AND OTHER DEFERRED ASSETS_4

DAC AND OTHER DEFERRED ASSETS/LIABILITIES - DAC Costs (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	$ 4,759
Balance, end of period	4,722
Term
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Recovery of acquisition cost		$ 0
UL
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Recovery of acquisition cost		0
VUL
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Recovery of acquisition cost		0
GMxB Core
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Recovery of acquisition cost		(6)
EI
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Recovery of acquisition cost		(2)
IE
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Recovery of acquisition cost		(1)
SCS
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Recovery of acquisition cost		(4)
GMxB Legacy
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Recovery of acquisition cost		(2)
EG
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Recovery of acquisition cost		(6)
Momentum
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Recovery of acquisition cost		0
CB
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Recovery of acquisition cost		0
Corporate Segment
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	4,737	4,788
Capitalization	256	253
Amortization	(253)	(243)
Recovery of acquisition cost	(38)	(21)
Balance, end of period	4,702	4,777
Corporate Segment | Term
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	338	362
Capitalization	7	7
Amortization	(19)	(19)
Recovery of acquisition cost	0
Balance, end of period	326	350
Corporate Segment | UL
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	22	20
Capitalization	4	2
Amortization	(1)	(1)
Recovery of acquisition cost	0
Balance, end of period	25	21
Corporate Segment | VUL
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	182	112
Capitalization	40	36
Amortization	(5)	(4)
Recovery of acquisition cost	0
Balance, end of period	217	144
Corporate Segment | GMxB Core
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	1,483	1,585
Capitalization	28	26
Amortization	(69)	(68)
Recovery of acquisition cost	(10)
Balance, end of period	1,432	1,537
Corporate Segment | EI
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	150	156
Capitalization	6	5
Amortization	(6)	(6)
Recovery of acquisition cost	(3)
Balance, end of period	147	153
Corporate Segment | IE
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	150	147
Capitalization	10	12
Amortization	(7)	(7)
Recovery of acquisition cost	(3)
Balance, end of period	150	151
Corporate Segment | SCS
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	1,282	1,266
Capitalization	110	113
Amortization	(106)	(92)
Recovery of acquisition cost	(8)
Balance, end of period	1,278	1,283
Corporate Segment | GMxB Legacy
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	208	213
Capitalization	14	14
Amortization	(12)	(12)
Recovery of acquisition cost	(5)
Balance, end of period	205	213
Corporate Segment | EG
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	723	711
Capitalization	32	33
Amortization	(21)	(21)
Recovery of acquisition cost	(9)
Balance, end of period	725	717
Corporate Segment | Momentum
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	82	89
Capitalization	5	5
Amortization	(2)	(8)
Recovery of acquisition cost	0
Balance, end of period	85	86
Corporate Segment | CB
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of the period	117	127
Capitalization	0	0
Amortization	(5)	(5)
Recovery of acquisition cost	0
Balance, end of period	112	$ 122
Corporate Segment | Other
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Capitalization	1
Amortization	$ (2)

DAC AND OTHER DEFERRED ASSETS_5

DAC AND OTHER DEFERRED ASSETS/LIABILITIES - DAC Credits (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
GMxB Core
Movement in Deferred Sales Inducements [Roll Forward]
Balance, beginning of period	$ 126	$ 137
Capitalization	0	0
Amortization	(6)	(6)
Balance, end of period	120	131
GMxB Legacy
Movement in Deferred Sales Inducements [Roll Forward]
Balance, beginning of period	179	200
Capitalization	0	0
Amortization	(10)	(10)
Balance, end of period	169	190
UL
Movement in Deferred Revenue [Roll Forward]
Balance, beginning of period	105	95
Capitalization	8	9
Amortization	(4)	(3)
Recovery of unearned revenue	(1)	(1)
Balance, end of period	108	100
VUL
Movement in Deferred Revenue [Roll Forward]
Balance, beginning of period	551	525
Capitalization	34	29
Amortization	(17)	(17)
Recovery of unearned revenue	0	0
Balance, end of period	$ 568	$ 537

FAIR VALUE DISCLOSURES - Schedu

FAIR VALUE DISCLOSURES - Schedules Of Assets And Liabilities Measured On Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Investments:
Fixed maturities, AFS:	$ 53,935	$ 55,165
Purchased market risk benefits	14,185	16,729
Modco payable	34,300
Liabilities:
Liability for market risk benefits	12,568	14,570
U.S. Treasury, government and agency
Investments:
Fixed maturities, AFS:	4,321	4,539
States and political subdivisions
Investments:
Fixed maturities, AFS:	363	470
Foreign governments
Investments:
Fixed maturities, AFS:	532	581
Residential mortgage-backed
Investments:
Fixed maturities, AFS:	1,506	1,344
Asset-backed
Investments:
Fixed maturities, AFS:	7,602	8,005
Commercial mortgage-backed
Investments:
Fixed maturities, AFS:	2,965	2,900
Redeemable preferred stock
Investments:
Fixed maturities, AFS:	58	59
Recurring
Investments:
Fixed maturities, AFS:	53,935	55,165
Other equity investments	586	649
Trading securities	756	257
Other invested assets:	11,880	9,352
Cash equivalents	3,329	2,533
Purchased market risk benefits	14,185	16,729
Assets for market risk benefits	763	574
Separate Accounts assets	124,855	120,970
Modco payable	(183)	(411)
Total Assets	219,066	212,958
Liabilities:
Liability for market risk benefits	12,568	14,570
Funds withheld payable	(87)	100
Total Liabilities	24,237	23,751
Recurring | Corporate
Investments:
Fixed maturities, AFS:	36,588	37,267
Recurring | U.S. Treasury, government and agency
Investments:
Fixed maturities, AFS:	4,321	4,539
Recurring | States and political subdivisions
Investments:
Fixed maturities, AFS:	363	470
Recurring | Foreign governments
Investments:
Fixed maturities, AFS:	532	581
Recurring | Residential mortgage-backed
Investments:
Fixed maturities, AFS:	1,506	1,344
Recurring | Asset-backed
Investments:
Fixed maturities, AFS:	7,602	8,005
Recurring | Commercial mortgage-backed
Investments:
Fixed maturities, AFS:	2,965	2,900
Recurring | Redeemable preferred stock
Investments:
Fixed maturities, AFS:	58	59
Recurring | Short-term investments
Investments:
Other invested assets:	246	414
Recurring | Assets of consolidated VIEs/VOEs
Investments:
Other invested assets:	3	3
Recurring | Swaps
Investments:
Other invested assets:	(286)	(180)
Recurring | Credit default swaps
Investments:
Other invested assets:	(1)	(2)
Recurring | Options
Investments:
Other invested assets:	11,918	9,117
Recurring | SCS, SIO, MSO and IUL indexed features’ asset
Investments:
SCS, SIO, MSO and IUL indexed features’ asset	8,960	7,140
Recurring | SCS, SIO, MSO and IUL indexed features’ liability
Liabilities:
SCS, SIO, MSO and IUL indexed features' liability	11,756	9,081
Recurring | Level 1
Investments:
Fixed maturities, AFS:	0	0
Other equity investments	143	150
Trading securities	221	207
Other invested assets:	0	0
Cash equivalents	3,033	1,917
Purchased market risk benefits	0	0
Assets for market risk benefits	0	0
Separate Accounts assets	122,256	118,353
Modco payable	0	0
Total Assets	125,653	120,627
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	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:	51,862	53,038
Other equity investments	391	445
Trading securities	535	50
Other invested assets:	11,877	9,349
Cash equivalents	296	616
Purchased market risk benefits	0	0
Assets for market risk benefits	0	0
Separate Accounts assets	2,599	2,617
Modco payable	0	0
Total Assets	76,520	73,255
Liabilities:
Liability for market risk benefits	0	0
Funds withheld payable	0	0
Total Liabilities	11,756	9,081
Recurring | Level 2 | Corporate
Investments:
Fixed maturities, AFS:	34,548	35,197
Recurring | Level 2 | U.S. Treasury, government and agency
Investments:
Fixed maturities, AFS:	4,321	4,539
Recurring | Level 2 | States and political subdivisions
Investments:
Fixed maturities, AFS:	363	443
Recurring | Level 2 | Foreign governments
Investments:
Fixed maturities, AFS:	532	581
Recurring | Level 2 | Residential mortgage-backed
Investments:
Fixed maturities, AFS:	1,506	1,344
Recurring | Level 2 | Asset-backed
Investments:
Fixed maturities, AFS:	7,575	7,981
Recurring | Level 2 | Commercial mortgage-backed
Investments:
Fixed maturities, AFS:	2,959	2,894
Recurring | Level 2 | Redeemable preferred stock
Investments:
Fixed maturities, AFS:	58	59
Recurring | Level 2 | Short-term investments
Investments:
Other invested assets:	246	414
Recurring | Level 2 | Assets of consolidated VIEs/VOEs
Investments:
Other invested assets:	0	0
Recurring | Level 2 | Swaps
Investments:
Other invested assets:	(286)	(180)
Recurring | Level 2 | Credit default swaps
Investments:
Other invested assets:	(1)	(2)
Recurring | Level 2 | Options
Investments:
Other invested assets:	11,918	9,117
Recurring | Level 2 | SCS, SIO, MSO and IUL indexed features’ asset
Investments:
SCS, SIO, MSO and IUL indexed features’ asset	8,960	7,140
Recurring | Level 2 | SCS, SIO, MSO and IUL indexed features’ liability
Liabilities:
SCS, SIO, MSO and IUL indexed features' liability	11,756	9,081
Recurring | Level 3
Investments:
Fixed maturities, AFS:	2,073	2,127
Other equity investments	52	54
Trading securities	0	0
Other invested assets:	3	3
Cash equivalents	0	0
Purchased market risk benefits	14,185	16,729
Assets for market risk benefits	763	574
Separate Accounts assets	0	0
Modco payable	(183)	(411)
Total Assets	16,893	19,076
Liabilities:
Liability for market risk benefits	12,568	14,570
Funds withheld payable	(87)	100
Total Liabilities	12,481	14,670
Recurring | Level 3 | Corporate
Investments:
Fixed maturities, AFS:	2,040	2,070
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:	0	27
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:	27	24
Recurring | Level 3 | Commercial mortgage-backed
Investments:
Fixed maturities, AFS:	6	6
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	3
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	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	$ 338	$ 371

FAIR VALUE DISCLOSURES - Narrat

FAIR VALUE DISCLOSURES - Narrative (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Fair Value Inputs, Assets Quantitative Information [Line Items]
Change in purchased market risk benefit asset fair value	$ (1,000)		$ (1,300)
AFS fixed maturities transferred from Level 3 to Level 2	88	$ 301
AFS fixed maturities transferred from Level 2 to Level 3	$ 57	$ 11
Percentage of total equity representing AFS fixed maturities transferred	5.90%	650%
Nonrecurring | Level 3
Fair Value Inputs, Assets Quantitative Information [Line Items]
Investments, fair value	$ 1,100		$ 873

FAIR VALUE DISCLOSURES - Fair V

FAIR VALUE DISCLOSURES - Fair Value Measurement Reconciliation For All Levels (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Total gains and (losses), realized and unrealized, included in:
Transfers into Level 3			$ 57	$ 11
Transfers out of Level 3			(88)	(301)
Level 3 | Corporate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 2,238	$ 1,914	2,070	2,103
Total gains and (losses), realized and unrealized, included in:
Investment gains (losses), reported in net investment income	2	2	4	3
Investment gains (losses), net	(1)	(8)	(2)	(11)
Subtotal	1	(6)	2	(8)
Other comprehensive income (loss)	0	(8)	10	10
Purchases	124	180	325	323
Sales	(323)	(72)	(377)	(162)
Activity related to consolidated VIEs/VOEs	0	0	0	0
Transfers into Level 3	0	11	57	11
Transfers out of Level 3	0	(43)	(47)	(301)
Closing Balance	2,040	1,976	2,040	1,976
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	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	(8)	10	9
Level 3 | State and Political Subdivisions
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	0	28	27	29
Total gains and (losses), realized and unrealized, included in:
Investment gains (losses), reported in net investment income	0	0	0	0
Investment gains (losses), net	0	0	0	0
Subtotal	0	0	0	0
Other comprehensive income (loss)	0	1	0	0
Purchases	0	0	0	0
Sales	0	(2)	0	(2)
Activity related to consolidated VIEs/VOEs	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	(27)	0
Closing Balance	0	27	0	27
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	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	1	0	1
Level 3 | Asset-backed
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	33	12	24	0
Total gains and (losses), realized and unrealized, included in:
Investment gains (losses), reported in net investment income	0	0	0	0
Investment gains (losses), net	0	0	0	0
Subtotal	0	0	0	0
Other comprehensive income (loss)	0	0	0	0
Purchases	(6)	(12)	17	0
Sales	0	0	0	0
Activity related to consolidated VIEs/VOEs	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	(14)	0
Closing Balance	27	0	27	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	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	0
Level 3 | CMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	6	34	6	32
Total gains and (losses), realized and unrealized, included in:
Investment gains (losses), reported in net investment income	0	0	0	0
Investment gains (losses), net	0	0	0	0
Subtotal	0	0	0	0
Other comprehensive income (loss)	0	0	0	0
Purchases	0	0	0	2
Sales	0	0	0	0
Activity related to consolidated VIEs/VOEs	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Closing Balance	6	34	6	34
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	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	0
Level 3 | Other equity investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	58	14	57	17
Total gains and (losses), realized and unrealized, included in:
Investment gains (losses), reported in net investment income	0	0	1	(3)
Investment gains (losses), net	0	0	0	0
Subtotal	0	0	1	(3)
Other comprehensive income (loss)	0	0	0	0
Purchases	(42)	44	0	44
Sales	39	0	(3)	0
Change in fair value of funds withheld assets	0		0
Other	0	0	0
Activity related to consolidated VIEs/VOEs	0	47	0	47
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Closing Balance	55	105	55	105
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	(3)
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	0
Level 3 | Separate Accounts Assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	1	1	0	1
Total gains and (losses), realized and unrealized, included in:
Investment gains (losses), reported in net investment income	0	0	0	0
Investment gains (losses), net	0	0	0	0
Subtotal	0	0	0	0
Other comprehensive income (loss)	0	0	0	0
Purchases	(1)	0	0	0
Sales	0	0	0	0
Change in fair value of funds withheld assets	0		0
Other	0	0	0
Activity related to consolidated VIEs/VOEs	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Closing Balance	0	1	0	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	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	0
Level 3 | Funds Withheld Payable
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	(29)	0	100	0
Total gains and (losses), realized and unrealized, included in:
Investment gains (losses), reported in net investment income	0	0	0	0
Investment gains (losses), net	0	(136)	0	(136)
Subtotal	0	(136)	0	(136)
Other comprehensive income (loss)	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Change in fair value of funds withheld assets	(58)		(187)
Other	0	0	0
Activity related to consolidated VIEs/VOEs	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Closing Balance	(87)	(136)	(87)	(136)
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	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	0
Level 3 | Modco Payable
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	(292)	0	(411)	0
Total gains and (losses), realized and unrealized, included in:
Investment gains (losses), reported in net investment income	0	0	0	0
Investment gains (losses), net	0	166	0	166
Subtotal	0	166	0	166
Other comprehensive income (loss)	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Change in fair value of funds withheld assets	109		228
Other	0	0	0
Activity related to consolidated VIEs/VOEs	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Closing Balance	(183)	166	(183)	166
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	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	$ 0

FAIR VALUE DISCLOSURES - Quanti

FAIR VALUE DISCLOSURES - Quantitative Information About Level 3 (Details) $ in Millions	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability for market risk benefits	$ 12,568	$ 14,570
Assets for market risk benefits	763	574
Level 3 | Corporate | Matrix pricing model
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of fixed maturities AFS	$ 311	$ 330
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	0.0045	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	0.0220	0.0747
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	0.0139	0.0187
Level 3 | Corporate | Market  comparable  companies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of fixed maturities AFS	$ 699	$ 979
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	4	3.3
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	33	29
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	12.7	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
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	0.289	0.228
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	0.052	0.039
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	0.8
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	9	10
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	5.8	6.3
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	0.096	0.034
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	0.128	0.610
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	0.050	0.138
Level 3 | Other equity investments | Discounted Cash Flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of fixed maturities AFS	$ 0	$ 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	6.9	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	0	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	0	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	$ 14,185	$ 16,729
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	0.0021
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	0.2937
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	0.0286	0.0275
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
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	0.1497
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	0.0063	0.0055
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	1	1
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	0.0519	0.0551
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	0.0021	0.0023
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	0.0101	0.0097
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	0.0033	0.0035
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	0.11
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	0.31	0.28
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	0.24	0.23
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	0.0018
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	0.0295	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	0.0007
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	0.0053
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	0.0033
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	0.4200
Level 3 | Direct MRB | Discounted Cash Flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Direct MRB	$ 11,805	$ 13,996
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	0.0021
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	0.2937
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	0.0318	0.0303
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	0.1497
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	0.0073	0.0064
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	0.0109	0.0118
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	0.0109	0.0118
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	0.0018
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	0.0284	0.0263
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	0.0007
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	0.0053
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	0.0033
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	0.4200
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	0.0526	0.0544

FAIR VALUE DISCLOSURES - Carryi

FAIR VALUE DISCLOSURES - Carrying Values And Fair Values Of Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Consolidated Amounts [Abstract]
Mortgage loans on real estate	$ 17,946	$ 17,877
Policy loans	3,742	3,667
Policyholders’ liabilities: Investment contracts	84,614	82,990
Funds withheld payable	9,747	10,603
Modco payable	34,300
Separate Accounts liabilities	125,406	121,497
Carrying Value
Consolidated Amounts [Abstract]
Mortgage loans on real estate	17,946	17,877
Policy loans	3,742	3,667
Policyholders’ liabilities: Investment contracts	1,980	1,554
Funds withheld payable	9,834	10,503
Modco payable	31,042	29,912
FHLB funding agreements	7,167	7,618
FABN funding agreements	6,251	6,267
Funding agreement-backed commercial paper (FABCP)	242	939
Separate Accounts liabilities	10,777	10,343
Carrying Value | Affiliated Entity
Consolidated Amounts [Abstract]
Loans to affiliates	1,900	1,900
Fair Value
Consolidated Amounts [Abstract]
Mortgage loans on real estate	16,259	16,174
Policy loans	3,964	3,961
Policyholders’ liabilities: Investment contracts	1,930	1,526
Funds withheld payable	9,834	10,503
Modco payable	31,042	29,912
FHLB funding agreements	7,090	7,567
FABN funding agreements	5,870	5,840
Funding agreement-backed commercial paper (FABCP)	250	948
Separate Accounts liabilities	10,777	10,343
Fair Value | Affiliated Entity
Consolidated Amounts [Abstract]
Loans to affiliates	1,786	1,790
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	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	7,090	7,567
FABN funding agreements	5,870	5,840
Funding agreement-backed commercial paper (FABCP)	250	948
Separate Accounts liabilities	0	0
Fair Value | Level 2 | Affiliated Entity
Consolidated Amounts [Abstract]
Loans to affiliates	1,786	1,790
Fair Value | Level 3
Consolidated Amounts [Abstract]
Mortgage loans on real estate	16,259	16,174
Policy loans	3,964	3,961
Policyholders’ liabilities: Investment contracts	1,930	1,526
Funds withheld payable	9,834	10,503
Modco payable	31,042	29,912
FHLB funding agreements	0	0
FABN funding agreements	0	0
Funding agreement-backed commercial paper (FABCP)	0	0
Separate Accounts liabilities	10,777	10,343
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	Jun. 30, 2024	Dec. 31, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	$ 16,474	$ 16,573
All Future Policyholder Benefits
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	15,026	15,140
Subtotal - Products
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	9,105	9,020
Term
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	1,291	1,341
Payout - Non-Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	802	844
Payout - Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	3,900	3,620
Group Pension - Benefit Reserve & DPL
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	457	490
Health
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	1,414	1,505
UL
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	1,241	1,220
Whole Life Closed Block and Open Block products
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	5,318	5,463
Other
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	603	657
Other policyholder funds and dividends payable
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	$ 1,448	$ 1,433

LIABILITIES FOR FUTURE POLICY_4

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Policyholder Account Balance (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for future policy benefits	$ 16,474		$ 16,573
Term
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for future policy benefits	1,291		1,341
Payout - Non-Legacy
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for future policy benefits	802		844
Payout - Legacy
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for future policy benefits	3,900		3,620
Group Pension
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for future policy benefits	457		490
Health
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for future policy benefits	1,414		1,505
Operating Segments | Term | Protection Solutions
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of period	2,125	$ 2,090
Beginning balance at original discount rate	2,051	2,069
Effect of changes in cash flow assumptions			(18)	$ 8
Effect of actual variances from expected experience			(52)	4
Adjusted beginning of period balance			1,981	2,081
Issuances	26	32
Interest accrual	49	50
Net premiums collected	(94)	(99)
Ending Balance at original discount rate	1,962	2,064
Effect of changes in discount rate assumptions	(21)	35
Balance, end of period	1,941	2,099
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	3,466	3,449
Beginning balance of original discount rate	3,317	3,376
Effect of changes in cash flow assumptions			(20)	9
Effect of actual variances from expected			(65)	6
Adjusted beginning of period balance			3,232	3,391
Issuances	28	34
Interest accrual	82	84
Benefits payments	(115)	(182)
Ending balance at original discount rate	3,227	3,327
Effect of changes in discount rate assumptions	5	90
Balance, end of period	3,232	3,417
Net liability for future policy benefits	1,291	1,318
Less: Reinsurance recoverable	(207)	(199)
Net liability for future policy benefits, after reinsurance recoverable	$ 1,084	$ 1,119
Weighted-average duration of liability for future policyholder benefits (years)	6 years 10 months 24 days	7 years
Operating Segments | Payout - Non-Legacy | Non-Legacy
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of period	$ 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 period	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	844	828
Beginning balance of original discount rate	840	845
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected			(2)	0
Adjusted beginning of period balance			838	845
Issuances	22	26
Interest accrual	20	19
Benefits payments	(47)	(46)
Ending balance at original discount rate	833	844
Effect of changes in discount rate assumptions	(31)	(10)
Balance, end of period	802	834
Net liability for future policy benefits	802	834
Less: Reinsurance recoverable	(44)	(9)
Net liability for future policy benefits, after reinsurance recoverable	$ 758	$ 825
Weighted-average duration of liability for future policyholder benefits (years)	9 years 3 months 18 days	9 years 4 months 24 days
Operating Segments | Payout - Legacy | Legacy
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of period	$ 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 period	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	3,620	2,689
Beginning balance of original discount rate	3,840	3,024
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected			0	0
Adjusted beginning of period balance			3,840	3,024
Issuances	500	474
Interest accrual	69	44
Benefits payments	(181)	(132)
Ending balance at original discount rate	4,228	3,410
Effect of changes in discount rate assumptions	(328)	(309)
Balance, end of period	3,900	3,101
Net liability for future policy benefits	3,900	3,101
Less: Reinsurance recoverable	(1,698)	(797)
Net liability for future policy benefits, after reinsurance recoverable	$ 2,202	$ 2,304
Weighted-average duration of liability for future policyholder benefits (years)	7 years 6 months	7 years 9 months 18 days
Corporate and Other | Group Pension
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of period	$ 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 period	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	490	523
Beginning balance of original discount rate	536	583
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected			1	0
Adjusted beginning of period balance			537	583
Issuances	0	0
Interest accrual	9	10
Benefits payments	(31)	(34)
Ending balance at original discount rate	515	559
Effect of changes in discount rate assumptions	(58)	(56)
Balance, end of period	457	503
Net liability for future policy benefits	457	503
Less: Reinsurance recoverable	0	0
Net liability for future policy benefits, after reinsurance recoverable	$ 457	$ 503
Weighted-average duration of liability for future policyholder benefits (years)	7 years	7 years 1 month 6 days
Corporate and Other | Health
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of period	$ (21)	$ (6)
Beginning balance at original discount rate	(22)	(6)
Effect of changes in cash flow assumptions			(3)	0
Effect of actual variances from expected experience			1	(6)
Adjusted beginning of period balance			(24)	(12)
Issuances	0	0
Interest accrual	0	0
Net premiums collected	2	1
Ending Balance at original discount rate	(22)	(11)
Effect of changes in discount rate assumptions	1	0
Balance, end of period	(21)	(11)
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	1,484	1,554
Beginning balance of original discount rate	1,672	1,795
Effect of changes in cash flow assumptions			0	(1)
Effect of actual variances from expected			6	(6)
Adjusted beginning of period balance			$ 1,678	$ 1,788
Issuances	0	0
Interest accrual	27	29
Benefits payments	(79)	(71)
Ending balance at original discount rate	1,626	1,746
Effect of changes in discount rate assumptions	(234)	(224)
Balance, end of period	1,392	1,522
Net liability for future policy benefits	1,414	1,533
Less: Reinsurance recoverable	(1,116)	(1,217)
Net liability for future policy benefits, after reinsurance recoverable	$ 298	$ 316
Weighted-average duration of liability for future policyholder benefits (years)	8 years 7 months 6 days	8 years 9 months 18 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	Jun. 30, 2024	Dec. 31, 2023
Term
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefit payments and expenses (undiscounted)	$ 5,677	$ 5,860
Expected future gross premiums (undiscounted)	6,802	6,956
Expected future benefit payments and expenses (discounted)	3,232	3,466
Expected future gross premiums (discounted)	3,613	3,862
Payout - Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefit payments and expenses (undiscounted)	5,798	5,204
Expected future gross premiums (undiscounted)	0	0
Expected future benefit payments and expenses (discounted)	3,820	3,538
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)	1,404	1,426
Expected future gross premiums (undiscounted)	0	0
Expected future benefit payments and expenses (discounted)	767	812
Expected future gross premiums (discounted)	0	0
Group Pension
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefit payments and expenses (undiscounted)	640	668
Expected future gross premiums (undiscounted)	0	0
Expected future benefit payments and expenses (discounted)	439	471
Expected future gross premiums (discounted)	0	0
Health
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefit payments and expenses (undiscounted)	2,246	2,318
Expected future gross premiums (undiscounted)	78	85
Expected future benefit payments and expenses (discounted)	1,378	1,468
Expected future gross premiums (discounted)	$ 61	$ 68

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	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	$ 303	$ 182
Interest Accretion	169	136
Term
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	170	117
Interest Accretion	33	34
Payout - Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	109	45
Interest Accretion	79	44
Payout - Non-Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	18	16
Interest Accretion	20	19
Group Pension
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	0	0
Interest Accretion	9	10
Health
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	6	4
Interest Accretion	$ 28	$ 29

LIABILITIES FOR FUTURE POLICY_7

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Schedule of Liability for Future Policy Benefits, Weighted Average Interest Rates (Details)	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	4.50%		4.50%
Term
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	5.60%	5.60%
Current discount rate	5.30%	4.80%
Payout - Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	4.10%	4%
Current discount rate	5.30%	4.90%
Payout - Non-Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	5%	5%
Current discount rate	5.40%	4.90%
Group Pension
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	3.30%	3.30%
Current discount rate	5.30%	4.80%
Health
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	3.40%	3.40%
Current discount rate	5.40%	4.90%

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	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for additional liability	$ 16,474		$ 16,573
Weighted Average Interest Rate	4.50%	4.50%
Assessments
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Revenue and Interest Accretion	$ 338	$ 350
Interest Accretion
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Revenue and Interest Accretion	27	$ 25
UL
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for additional liability	$ 1,241		1,220
Weighted Average Interest Rate	4.50%	4.50%
UL | Assessments
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Revenue and Interest Accretion	$ 338	$ 350
UL | Interest Accretion
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Revenue and Interest Accretion	27	25
Protection Solutions | UL
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	1,220	1,120
Beginning balance before AOCI adjustments	1,230	1,135
Effect of changes in interest rate and cash flow assumptions and model changes			0	$ 0
Effect of actual variances from expected			(2)	4
Adjusted beginning of period balance			1,228	1,139
Interest accrual	27	25
Net assessments collected	35	36
Benefit payments	(35)	(30)
Ending balance before shadow reserve adjustments	1,255	1,170	$ 1,230	$ 1,135
Effect of reserve adjustment recorded in AOCI	(14)	(8)
Balance, end of period	1,241	1,162
Net liability for additional liability	1,241	1,162
Less: Reinsurance recoverable	(959)	(901)
Net liability for future policy benefits, after reinsurance recoverable	$ 282	$ 261
Weighted-average duration of additional liability - death benefit (years)	19 years 6 months	21 years 4 months 24 days

MARKET RISK BENEFITS - Changes

MARKET RISK BENEFITS - Changes in the Market Risk Benefits for Deferred Variable Annuities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Market Risk Benefit [Roll Forward]
Benefit payments			$ 13	$ 194
GMxB Core | Individual Retirement
Market Risk Benefit [Roll Forward]
Balance, beginning of year	$ 328	$ 333	578	539
Beginning balance before changes in the instrument specific credit risk	97	560	324	538
Model changes and effect of changes in cash flow assumptions	0	0	0	0
Actual market movement effect	(3)	(116)	(154)	(322)
Interest accrual	15	19	30	37
Attributed fees accrued	107	110	199	204
Benefit payments	(11)	(12)	(21)	(24)
Actual policyholder behavior different from expected behavior	6	3	9	8
Changes in future economic assumptions	(60)	(193)	(236)	(70)
Issuances	0	(1)	0	(1)
Ending balance before changes in the instrument-specific credit risk	151	370	151	370
Changes in the instrument-specific credit risk	268	(215)	268	(215)
Balance, end of year	$ 419	$ 155	$ 419	$ 155
Weighted-average age of policyholders (years)	65 years	64 years	65 years	64 years
Net amount at risk	$ 2,866	$ 3,159	$ 2,866	$ 3,159
Purchased MRB Core | Individual Retirement
Market Risk Benefit [Roll Forward]
Balance, beginning of year	(900)	0	(1,180)	0
Beginning balance before changes in the instrument specific credit risk	(992)	0	(1,266)	0
Model changes and effect of changes in cash flow assumptions	0	0	0	0
Actual market movement effect	(2)	105	145	105
Interest accrual	(5)	(9)	(9)	(9)
Attributed fees accrued	(95)	(99)	(178)	(99)
Benefit payments	11	12	21	12
Actual policyholder behavior different from expected behavior	(1)	(4)	0	(4)
Changes in future economic assumptions	53	217	256	217
Issuances	1	(1,294)	1	(1,294)
Ending balance before changes in the instrument-specific credit risk	(1,030)	(1,072)	(1,030)	(1,072)
Changes in the instrument-specific credit risk	98	1	98	1
Balance, end of year	$ (932)	$ (1,071)	$ (932)	$ (1,071)
Weighted-average age of policyholders (years)	65 years 4 months 24 days	64 years 4 months 24 days	65 years 4 months 24 days	64 years 4 months 24 days
Net amount at risk	$ 2,834	$ 3,072	$ 2,834	$ 3,072
Net GMxB Core | Individual Retirement
Market Risk Benefit [Roll Forward]
Balance, beginning of year	(572)	333	(602)	539
Beginning balance before changes in the instrument specific credit risk	(895)	560	(942)	538
Model changes and effect of changes in cash flow assumptions	0	0	0	0
Actual market movement effect	(5)	(11)	(9)	(217)
Interest accrual	10	10	21	28
Attributed fees accrued	12	11	21	105
Benefit payments	0	0	0	(12)
Actual policyholder behavior different from expected behavior	5	(1)	9	4
Changes in future economic assumptions	(7)	24	20	147
Issuances	1	(1,295)	1	(1,295)
Ending balance before changes in the instrument-specific credit risk	(879)	(702)	(879)	(702)
Changes in the instrument-specific credit risk	366	(214)	366	(214)
Balance, end of year	(513)	(916)	(513)	(916)
GMxB Legacy | Legacy Segment
Market Risk Benefit [Roll Forward]
Balance, beginning of year	11,701	14,082	13,410	14,699
Beginning balance before changes in the instrument specific credit risk	11,326	15,599	13,020	15,314
Model changes and effect of changes in cash flow assumptions	0	0	0	0
Actual market movement effect	45	(637)	(743)	(1,381)
Interest accrual	153	195	314	392
Attributed fees accrued	198	208	398	418
Benefit payments	(311)	(345)	(632)	(687)
Actual policyholder behavior different from expected behavior	0	(6)	(23)	15
Changes in future economic assumptions	(514)	(872)	(1,437)	71
Issuances	0	0	0	0
Ending balance before changes in the instrument-specific credit risk	10,897	14,142	10,897	14,142
Changes in the instrument-specific credit risk	520	(1,422)	520	(1,422)
Balance, end of year	$ 11,417	$ 12,720	$ 11,417	$ 12,720
Weighted-average age of policyholders (years)	73 years 3 months 18 days	72 years 9 months 18 days	73 years 3 months 18 days	72 years 9 months 18 days
Net amount at risk	$ 19,710	$ 22,195	$ 19,710	$ 22,195
Purchased MRB Legacy | Legacy Segment
Market Risk Benefit [Roll Forward]
Balance, beginning of year	(13,783)	(10,746)	(15,519)	(10,492)
Beginning balance before changes in the instrument specific credit risk	(13,819)	(10,648)	(15,543)	(10,438)
Model changes and effect of changes in cash flow assumptions	0	0	1	0
Actual market movement effect	(10)	585	736	978
Interest accrual	(163)	(202)	(331)	(358)
Attributed fees accrued	(146)	(155)	(300)	(238)
Benefit payments	304	338	618	523
Actual policyholder behavior different from expected behavior	(5)	(3)	8	(20)
Changes in future economic assumptions	537	822	1,509	290
Issuances	0	(6,865)	0	(6,865)
Ending balance before changes in the instrument-specific credit risk	(13,302)	(16,128)	(13,302)	(16,128)
Changes in the instrument-specific credit risk	48	(95)	48	(95)
Balance, end of year	$ (13,254)	$ (16,223)	$ (13,254)	$ (16,223)
Weighted-average age of policyholders (years)	73 years 8 months 12 days	73 years	73 years 8 months 12 days	73 years
Net amount at risk	$ 19,397	$ 21,728	$ 19,397	$ 21,728
Net GMxB Legacy | Legacy Segment
Market Risk Benefit [Roll Forward]
Balance, beginning of year	(2,082)	3,336	(2,109)	4,207
Beginning balance before changes in the instrument specific credit risk	(2,493)	4,952	(2,523)	4,876
Model changes and effect of changes in cash flow assumptions	0	0	1	0
Actual market movement effect	35	(52)	(7)	(403)
Interest accrual	(10)	(7)	(17)	34
Attributed fees accrued	52	53	98	180
Benefit payments	(7)	(7)	(14)	(164)
Actual policyholder behavior different from expected behavior	(5)	(9)	(15)	(5)
Changes in future economic assumptions	23	(50)	72	361
Issuances	0	(6,866)	0	(6,865)
Ending balance before changes in the instrument-specific credit risk	(2,405)	(1,986)	(2,405)	(1,986)
Changes in the instrument-specific credit risk	568	(1,517)	568	(1,517)
Balance, end of year	$ (1,837)	$ (3,503)	$ (1,837)	$ (3,503)

MARKET RISK BENEFITS - Reconcil

MARKET RISK BENEFITS - Reconciles Market Risk Benefits (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Market Risk Benefit [Line Items]
MRB Asset	$ (763)	$ (574)
MRB Liability	12,568	14,570
Legacy And Individual Retirement
Market Risk Benefit [Line Items]
MRB Asset	(763)	(574)
MRB Liability	12,568	14,570
Net MRB	11,805	13,996
Purchased MRB	(14,185)	(16,729)
Net amount at risk	(2,380)	(2,733)
GMxB Core | Individual Retirement
Market Risk Benefit [Line Items]
MRB Asset	(497)	(410)
MRB Liability	916	988
Net MRB	419	578
Purchased MRB	(932)	(1,180)
Net amount at risk	(513)	(602)
GMxB Legacy | Legacy Segment
Market Risk Benefit [Line Items]
MRB Asset	(180)	(103)
MRB Liability	11,597	13,513
Net MRB	11,417	13,410
Purchased MRB	(13,254)	(15,519)
Net amount at risk	(1,837)	(2,109)
Others | Individual Retirement
Market Risk Benefit [Line Items]
MRB Asset	(86)	(61)
MRB Liability	55	69
Net MRB	(31)	8
Purchased MRB	1	(30)
Net amount at risk	$ (30)	$ (22)

POLICYHOLDER ACCOUNT BALANCES -

POLICYHOLDER ACCOUNT BALANCES - Reconciliation of Policyholders Account Balances to Policyholders' Account Balance Liability (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Balance (exclusive of Funding Agreements)	$ 70,903	$ 68,097
Funding Agreements	13,711	14,893
Balance, end of period	84,614	82,990
UL
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder Account Balance	5,129	5,202
VUL
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder Account Balance	4,165	4,145
GMxB Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder Account Balance	595	618
GMxB Core
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder Account Balance	(8)	(5)
SCS
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder Account Balance	43,344	40,649
EQUI-VEST Individual
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder Account Balance	2,182	2,322
EQUI-VEST Group
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder Account Balance	11,369	11,563
Momentum
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder Account Balance	575	608
Other
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder Account Balance	$ 3,552	$ 2,995

POLICYHOLDER ACCOUNT BALANCES_2

POLICYHOLDER ACCOUNT BALANCES - Balances and Changes in Policyholders' Account Balances (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Policyholder Account Balance [Roll Forward]
Interest credited	$ 308	$ 312	$ 606	$ 747
Universal Life
Policyholder Account Balance [Roll Forward]
Balance, beginning of period			5,202
Balance, end of period	5,129		5,129
Universal Life | Protection Solutions
Policyholder Account Balance [Roll Forward]
Balance, beginning of period			5,202	5,341
Issuances			0	0
Premiums received			327	358
Policy charges			(359)	(384)
Surrenders and withdrawals			(45)	(38)
Benefit payments			(106)	(128)
Net transfers from (to) separate account			0	0
Interest credited			110	111
Other			0	0
Balance, end of period	$ 5,129	$ 5,260	$ 5,129	$ 5,260
Weighted-average crediting rate	3.80%	3.67%	3.80%	3.67%
Net amount at risk	$ 34,364	$ 36,505	$ 34,364	$ 36,505
Cash surrender value	3,393	3,463	3,393	3,463
Variable Universal Life
Policyholder Account Balance [Roll Forward]
Balance, beginning of period			4,145
Balance, end of period	4,165		4,165
Variable Universal Life | Protection Solutions
Policyholder Account Balance [Roll Forward]
Balance, beginning of period			4,145	4,253
Issuances			0	0
Premiums received			52	64
Policy charges			(109)	(109)
Surrenders and withdrawals			(23)	(22)
Benefit payments			(52)	(58)
Net transfers from (to) separate account			59	(89)
Interest credited			93	94
Other			0	0
Balance, end of period	$ 4,165	$ 4,133	$ 4,165	$ 4,133
Weighted-average crediting rate	3.75%	3.72%	3.75%	3.72%
Net amount at risk	$ 82,517	$ 83,438	$ 82,517	$ 83,438
Cash surrender value	2,617	2,691	2,617	2,691
GMxB Legacy
Policyholder Account Balance [Roll Forward]
Balance, beginning of period			618
Balance, end of period	595		595
GMxB Legacy | Legacy Segment
Policyholder Account Balance [Roll Forward]
Balance, beginning of period			618	688
Issuances			0	0
Premiums received			36	41
Policy charges			18	20
Surrenders and withdrawals			(43)	(47)
Benefit payments			(49)	(51)
Net transfers from (to) separate account			3	2
Interest credited			12	13
Other			0	0
Balance, end of period	$ 595	$ 666	$ 595	$ 666
Weighted-average crediting rate	2.74%	2.71%	2.74%	2.71%
Net amount at risk	$ 19,710	$ 22,195	$ 19,710	$ 22,195
Cash surrender value	531	630	531	630
GMxB Core | Individual Retirement
Policyholder Account Balance [Roll Forward]
Balance, beginning of period			(5)	42
Issuances			0	0
Premiums received			23	26
Policy charges			7	8
Surrenders and withdrawals			(18)	(16)
Benefit payments			(1)	(1)
Net transfers from (to) separate account			(17)	(38)
Interest credited			3	2
Other			0	0
Balance, end of period	$ (8)	$ 23	$ (8)	$ 23
Weighted-average crediting rate	1.38%	1.32%	1.38%	1.32%
Net amount at risk	$ 2,866	$ 3,159	$ 2,866	$ 3,159
Cash surrender value	205	238	205	238
SCS
Policyholder Account Balance [Roll Forward]
Balance, beginning of period			40,649
Balance, end of period	43,344		43,344
SCS | Individual Retirement
Policyholder Account Balance [Roll Forward]
Balance, beginning of period			40,649	35,460
Issuances			0	0
Premiums received			8	0
Policy charges			(5)	(3)
Surrenders and withdrawals			(1,824)	(1,319)
Benefit payments			(132)	(121)
Net transfers from (to) separate account			1,009	1,591
Interest credited			3,639	4,059
Other			0	0
Balance, end of period	43,344	39,667	43,344	39,667
Net amount at risk	0	11	0	11
Cash surrender value	40,408	36,091	40,408	36,091
EQUI-VEST Individual
Policyholder Account Balance [Roll Forward]
Balance, beginning of period			2,322
Balance, end of period	2,182		2,182
EQUI-VEST Individual | Individual Retirement
Policyholder Account Balance [Roll Forward]
Balance, beginning of period			2,322	2,652
Issuances			0	0
Premiums received			15	19
Policy charges			0	0
Surrenders and withdrawals			(168)	(178)
Benefit payments			(27)	(40)
Net transfers from (to) separate account			7	4
Interest credited			33	38
Other			0	3
Balance, end of period	$ 2,182	$ 2,498	$ 2,182	$ 2,498
Weighted-average crediting rate	2.98%	3.04%	2.98%	3.04%
Net amount at risk	$ 104	$ 118	$ 104	$ 118
Cash surrender value	2,176	2,490	2,176	2,490
EQUI-VEST Group
Policyholder Account Balance [Roll Forward]
Balance, beginning of period			11,563
Balance, end of period	11,369		11,369
EQUI-VEST Group | Group Retirement
Policyholder Account Balance [Roll Forward]
Balance, beginning of period			11,563	12,046
Issuances			0	0
Premiums received			305	317
Policy charges			(3)	(3)
Surrenders and withdrawals			(806)	(820)
Benefit payments			(35)	(35)
Net transfers from (to) separate account			170	144
Interest credited			175	210
Other			0	11
Balance, end of period	$ 11,369	$ 11,870	$ 11,369	$ 11,870
Weighted-average crediting rate	2.67%	2.52%	2.67%	2.52%
Net amount at risk	$ 9	$ 24	$ 9	$ 24
Cash surrender value	11,313	11,782	11,313	11,782
Momentum
Policyholder Account Balance [Roll Forward]
Balance, beginning of period			608
Balance, end of period	575		575
Momentum | Group Retirement
Policyholder Account Balance [Roll Forward]
Balance, beginning of period			608	703
Issuances			0	0
Premiums received			37	35
Policy charges			0	0
Surrenders and withdrawals			(69)	(71)
Benefit payments			(1)	(4)
Net transfers from (to) separate account			(7)	(12)
Interest credited			7	6
Other			0	0
Balance, end of period	$ 575	$ 657	$ 575	$ 657
Weighted-average crediting rate	2.32%	2.33%	2.32%	2.33%
Net amount at risk	$ 0	$ 0	$ 0	$ 0
Cash surrender value	$ 576	$ 657	$ 576	$ 657

POLICYHOLDER ACCOUNT BALANCES_3

POLICYHOLDER ACCOUNT BALANCES - Guaranteed Minimum Interest Rates (Details) $ in Millions	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
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	$ 5,098	$ 5,170
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	$ 1,025	$ 1,022
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	$ 4,067	$ 4,142
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	$ 3,484	$ 3,576
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	29	61
UL | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	3,455	3,515
UL | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	700	696
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	88	69
UL | 1 Basis Point - 50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	612	627
UL | 51 Basis Points - 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	366	462
UL | 51 Basis Points - 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
UL | 51 Basis Points - 150 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	366	462
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	548	436
UL | Greater Than 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	6	6
UL | Greater Than 150 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	542	430
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	3,758	3,770
VUL | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 53	$ 41
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	$ 488	$ 470
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	$ 3,217	$ 3,259
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	$ 3,261	$ 3,301
VUL | At Guaranteed Minimum | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	10	8
VUL | At Guaranteed Minimum | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	34	34
VUL | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	3,217	3,259
VUL | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	342	417
VUL | 1 Basis Point - 50 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	5	9
VUL | 1 Basis Point - 50 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	337	408
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	141	46
VUL | 51 Basis Points - 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	24	18
VUL | 51 Basis Points - 150 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	117	28
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	14	6
VUL | Greater Than 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	14	6
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	532	573
GMxB Legacy | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 76	$ 91
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	$ 20	$ 21
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	$ 436	$ 461
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	$ 529	$ 557
GMxB Legacy | At Guaranteed Minimum | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	73	75
GMxB Legacy | At Guaranteed Minimum | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	20	21
GMxB Legacy | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	436	461
GMxB Legacy | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	3	16
GMxB Legacy | 1 Basis Point - 50 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	3	16
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	209	220
GMxB Core | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 185	$ 200
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	$ 12	$ 13
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	$ 12	$ 7
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	$ 37	$ 33
GMxB Core | At Guaranteed Minimum | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	13	13
GMxB Core | At Guaranteed Minimum | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	12	13
GMxB Core | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	12	7
GMxB Core | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	172	187
GMxB Core | 1 Basis Point - 50 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	172	187
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	2,181	2,321
EQUI-VEST Individual | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 254	$ 267
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	$ 40	$ 43
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	$ 1,887	$ 2,011
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	$ 1,972	$ 2,103
EQUI-VEST Individual | At Guaranteed Minimum | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	45	49
EQUI-VEST Individual | At Guaranteed Minimum | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	40	43
EQUI-VEST Individual | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	1,887	2,011
EQUI-VEST Individual | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	209	218
EQUI-VEST Individual | 1 Basis Point - 50 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	209	218
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	0
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	0
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	10,133	10,417
EQUI-VEST Group | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 3,432	$ 3,462
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	$ 349	$ 345
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	$ 6,352	$ 6,610
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	$ 7,447	$ 7,728
EQUI-VEST Group | At Guaranteed Minimum | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	746	773
EQUI-VEST Group | At Guaranteed Minimum | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	349	345
EQUI-VEST Group | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	6,352	6,610
EQUI-VEST Group | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	2,372	2,338
EQUI-VEST Group | 1 Basis Point - 50 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	2,372	2,338
EQUI-VEST Group | 1 Basis Point - 50 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Group | 1 Basis Point - 50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Group | 51 Basis Points - 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	35	36
EQUI-VEST Group | 51 Basis Points - 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	35	36
EQUI-VEST Group | 51 Basis Points - 150 Basis Points Above | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Group | 51 Basis Points - 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Group | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	279	315
EQUI-VEST Group | Greater Than 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	279	315
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	575	607
Momentum | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 380	$ 395
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	$ 123	$ 139
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	$ 72	$ 73
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	$ 189	$ 206
Momentum | At Guaranteed Minimum | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Momentum | At Guaranteed Minimum | 1.51% - 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	122	138
Momentum | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	67	68
Momentum | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	14	13
Momentum | 1 Basis Point - 50 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	13	12
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	320	335
Momentum | 51 Basis Points - 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	315	330
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	52	53
Momentum | Greater Than 150 Basis Points Above | 0% - 1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	52	53
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	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	$ 125,406	$ 121,497
VUL | Protection Solutions
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	14,826	13,694	$ 12,984	$ 11,535
GMxB Legacy | Legacy Segment
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	33,965	33,793	34,070	32,616
GMxB Core | Legacy Segment
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	27,336	27,664
GMxB Core | Individual Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	27,336	27,664	27,805	27,017
EQUI-VEST Individual | Individual Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	4,787	4,584	4,524	4,162
Investment Edge
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	4,188	4,048
Investment Edge | Individual Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	4,188	4,048	3,980	3,772
EQUI-VEST Group | Group Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	29,226	26,960	25,459	22,393
Momentum | Group Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	4,701	4,421	$ 4,301	$ 3,884
Other | Other
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	$ 6,377	$ 6,333

POLICYHOLDER ACCOUNT BALANCES_5

POLICYHOLDER ACCOUNT BALANCES - Balances and Changes in Separate Accounts Liability (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Separate Account, Liability [Roll Forward]
Balance, beginning of period	$ 121,497
Balance, end of period	125,406
VUL | Protection Solutions
Separate Account, Liability [Roll Forward]
Balance, beginning of period	13,694	$ 11,535
Premiums and deposits	406	382
Policy charges	(215)	(213)
Surrenders and withdrawals	(306)	(259)
Benefit payments	(25)	(45)
Investment performance	1,331	1,495
Net transfers from (to) general account	(59)	89
Other charges	0	0
Balance, end of period	14,826	12,984
Cash surrender value	14,791	12,971
GMxB Legacy | Legacy Segment
Separate Account, Liability [Roll Forward]
Balance, beginning of period	33,793	32,616
Premiums and deposits	112	110
Policy charges	(324)	(340)
Surrenders and withdrawals	(1,629)	(1,324)
Benefit payments	(385)	(382)
Investment performance	2,401	3,392
Net transfers from (to) general account	(3)	(2)
Other charges	0	0
Balance, end of period	33,965	34,070
Cash surrender value	33,702	33,792
GMxB Core | Legacy Segment
Separate Account, Liability [Roll Forward]
Balance, beginning of period	27,664
Balance, end of period	27,336
GMxB Core | Individual Retirement
Separate Account, Liability [Roll Forward]
Balance, beginning of period	27,664	27,017
Premiums and deposits	233	259
Policy charges	(238)	(241)
Surrenders and withdrawals	(1,685)	(1,216)
Benefit payments	(131)	(117)
Investment performance	1,476	2,065
Net transfers from (to) general account	17	38
Other charges	0	0
Balance, end of period	27,336	27,805
Cash surrender value	26,722	27,055
EQUI-VEST Individual | Individual Retirement
Separate Account, Liability [Roll Forward]
Balance, beginning of period	4,584	4,162
Premiums and deposits	40	49
Policy charges	(1)	(1)
Surrenders and withdrawals	(248)	(198)
Benefit payments	(26)	(27)
Investment performance	445	538
Net transfers from (to) general account	(7)	(3)
Other charges	0	4
Balance, end of period	4,787	4,524
Cash surrender value	4,752	4,491
Investment Edge
Separate Account, Liability [Roll Forward]
Balance, beginning of period	4,048
Balance, end of period	4,188
Investment Edge | Individual Retirement
Separate Account, Liability [Roll Forward]
Balance, beginning of period	4,048	3,772
Premiums and deposits	152	200
Policy charges	0	0
Surrenders and withdrawals	(247)	(195)
Benefit payments	(15)	(24)
Investment performance	290	321
Net transfers from (to) general account	(40)	(94)
Other charges	0	0
Balance, end of period	4,188	3,980
Cash surrender value	4,120	3,894
EQUI-VEST Group | Group Retirement
Separate Account, Liability [Roll Forward]
Balance, beginning of period	26,960	22,393
Premiums and deposits	1,180	1,116
Policy charges	(8)	(8)
Surrenders and withdrawals	(1,113)	(744)
Benefit payments	(32)	(28)
Investment performance	2,409	2,849
Net transfers from (to) general account	(170)	(144)
Other charges	0	25
Balance, end of period	29,226	25,459
Cash surrender value	28,935	25,210
Momentum | Group Retirement
Separate Account, Liability [Roll Forward]
Balance, beginning of period	4,421	3,884
Premiums and deposits	379	332
Policy charges	(11)	(10)
Surrenders and withdrawals	(477)	(364)
Benefit payments	(8)	(5)
Investment performance	390	452
Net transfers from (to) general account	7	12
Other charges	0	0
Balance, end of period	4,701	4,301
Cash surrender value	$ 4,694	$ 4,295

POLICYHOLDER ACCOUNT BALANCES_6

POLICYHOLDER ACCOUNT BALANCES - Aggregate Fair Value of Separate Account Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Policyholder Account Balance [Line Items]
Separate Accounts assets	$ 125,406	$ 121,497
Debt securities
Policyholder Account Balance [Line Items]
Separate Accounts assets	78	76
Common Stock
Policyholder Account Balance [Line Items]
Separate Accounts assets	2,260	2,213
Mutual Funds
Policyholder Account Balance [Line Items]
Separate Accounts assets	121,708	117,829
Bonds and Notes
Policyholder Account Balance [Line Items]
Separate Accounts assets	1,360	1,379
Life Insurance & Employee Benefits Products
Policyholder Account Balance [Line Items]
Separate Accounts assets	14,890	13,761
Life Insurance & Employee Benefits Products | Debt securities
Policyholder Account Balance [Line Items]
Separate Accounts assets	51	48
Life Insurance & Employee Benefits Products | Common Stock
Policyholder Account Balance [Line Items]
Separate Accounts assets	67	65
Life Insurance & Employee Benefits Products | Mutual Funds
Policyholder Account Balance [Line Items]
Separate Accounts assets	14,662	13,557
Life Insurance & Employee Benefits Products | Bonds and Notes
Policyholder Account Balance [Line Items]
Separate Accounts assets	110	91
Individual Variable Annuity Products
Policyholder Account Balance [Line Items]
Separate Accounts assets	71,040	70,854
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	35	34
Individual Variable Annuity Products | Mutual Funds
Policyholder Account Balance [Line Items]
Separate Accounts assets	71,000	70,815
Individual Variable Annuity Products | Bonds and Notes
Policyholder Account Balance [Line Items]
Separate Accounts assets	4	4
Employer - Sponsored Products
Policyholder Account Balance [Line Items]
Separate Accounts assets	35,861	33,249
Employer - Sponsored Products | Debt securities
Policyholder Account Balance [Line Items]
Separate Accounts assets	7	21
Employer - Sponsored Products | Common Stock
Policyholder Account Balance [Line Items]
Separate Accounts assets	452	447
Employer - Sponsored Products | Mutual Funds
Policyholder Account Balance [Line Items]
Separate Accounts assets	35,388	32,780
Employer - Sponsored Products | Bonds and Notes
Policyholder Account Balance [Line Items]
Separate Accounts assets	14	1
Other
Policyholder Account Balance [Line Items]
Separate Accounts assets	3,615	3,633
Other | Debt securities
Policyholder Account Balance [Line Items]
Separate Accounts assets	19	6
Other | Common Stock
Policyholder Account Balance [Line Items]
Separate Accounts assets	1,706	1,667
Other | Mutual Funds
Policyholder Account Balance [Line Items]
Separate Accounts assets	658	677
Other | Bonds and Notes
Policyholder Account Balance [Line Items]
Separate Accounts assets	$ 1,232	$ 1,283

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2024	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Changes in valuation allowance	$ 0	$ 5,000,000
Valuation allowance		$ 222,000,000

EQUITY - Cumulative Gains (Loss

EQUITY - Cumulative Gains (Losses) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI	$ (2,451)	$ (2,039)	$ (1,641)	$ 48	$ 1,228	$ (1,074)
Accumulated other comprehensive income (loss) attributable to Equitable Financial
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI	(7,742)	$ (7,272)	(6,938)	$ (6,083)	$ (5,522)	$ (7,855)
Unrealized gains (losses) on investments
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI	(7,165)		(6,363)
Market risk benefits - instrument-specific credit risk component
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI	(945)		(764)
Liability for future policy benefits - current discount rate component
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI	372		194
Defined benefit pension plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI	$ (4)		$ (5)

EQUITY - Changes in AOCI (Detai

EQUITY - Changes in AOCI (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Change in net unrealized gains (losses) on investments:
Net unrealized gains (losses) arising during the period		$ (399)	$ (616)	$ (861)	$ 836
(Gains) losses reclassified into net income (loss) during the period		3	39	24	94
Net unrealized gains (losses) on investments		(396)	(577)	(837)	930
Adjustments for policyholders’ liabilities, insurance liability loss recognition and other		29	31	35	33
Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $(91), $(310), $(206), and $7)	[1]	(367)	(546)	(802)	963
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 $(42), $(23), $(38) and $225)		(161)	(88)	(144)	845
Liability for future policy benefits - change in current discount rate (net of deferred income tax expense (benefit) of $15, $19, $37 and $(10) )		58	73	141	(36)
Change in defined benefit plans:
Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost		0	0	1	0
Change in defined benefit plans (net of deferred income tax expense (benefit) of $0, $0, $0 and $0)		0	0	1	0
Change in accumulated other comprehensive income (loss) attributable to Equitable Financial		(470)	(561)	(804)	1,772
Deferred income tax expense (benefit) for change in unrealized gains (losses)		(91)	(310)	(206)	7
Deferred income tax expense (benefit) for market risk benefits - change in instrument-specific credit risk		(42)	(23)	(38)	225
Deferred income tax expense (benefit) for liability for future policy benefits - change in current discount rate		15	19	37	(10)
Deferred income tax expense (benefit) for change in defined benefit plans		0	0	0	0
Reclassification adjustment		$ (1)	$ (10)	$ (6)	$ (25)
[1] See Note 13 of the Notes to these Consolidated Financial Statements for details of change in unrealized gains (losses), net of adjustments.

REDEEMABLE NONCONTROLLING INT_3

REDEEMABLE NONCONTROLLING INTEREST (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance, beginning of period	$ 29	$ 19	$ 24	$ 21
Net earnings (loss) attributable to redeemable noncontrolling interests	0	1	1	1
Purchase/change of redeemable noncontrolling interests	1	1	5	(1)
Balance, end of period	$ 30	$ 21	$ 30	$ 21

COMMITMENTS AND CONTINGENT LI_3

COMMITMENTS AND CONTINGENT LIABILITIES - Narrative (Details)	Jun. 30, 2024 USD ($) legalAction	May 31, 2023 USD ($)	Feb. 29, 2016 USD ($) federal_action
Loss Contingencies [Line Items]
Unaccrued amounts of reasonably possible range of losses	$ 100,000,000
Number of federal actions | federal_action			3
Federal home loan bank stock	336,000,000
Carrying value of collateral pledged for federal home loan bank	10,000,000,000
Commitments by the company to provide equity financing	1,100,000,000
Commitments under existing mortgage loan agreements	683,000,000
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	$ 250,000,000
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	1
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	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Federal Home Loan Bank (FHLB)
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	$ 7,615
Issued During the Period	30,425
Repaid During the Period	(30,875)
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Outstanding balance, period end	7,165
Difference related to remaining amortization	2	$ 3
Federal Home Loan Bank (FHLB) | Due in one year or less
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	6,168
Issued During the Period	30,425
Repaid During the Period	(30,875)
Long-term Agreements Maturing Within One Year	125
Long-term Agreements Maturing Within Five Years	0
Outstanding balance, period end	5,843
Federal Home Loan Bank (FHLB) | Total long-term funding agreements
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	1,447
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	(125)
Long-term Agreements Maturing Within Five Years	0
Outstanding balance, period end	1,322
Federal Home Loan Bank (FHLB) | Due in years two through five
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	799
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	(82)
Long-term Agreements Maturing Within Five Years	0
Outstanding balance, period end	717
Federal Home Loan Bank (FHLB) | Due in more than five years
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	648
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	(43)
Long-term Agreements Maturing Within Five Years	0
Outstanding balance, period end	605
Funding Agreement-Backed Notes Program (FABN)
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	6,284
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	0
Foreign Currency Transaction Adjustment	(19)
Outstanding balance, period end	6,265
Difference related to remaining amortization	14	$ 17
Funding Agreement-Backed Notes Program (FABN) | Due in one year or less
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	1,000
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	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	5,284
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	0
Foreign Currency Transaction Adjustment	(19)
Outstanding balance, period end	5,265
Funding Agreement-Backed Notes Program (FABN) | Due in years two through five
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	4,984
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	0
Foreign Currency Transaction Adjustment	(19)
Outstanding balance, period end	4,965
Funding Agreement-Backed Notes Program (FABN) | Due in more than five years
Restructuring Reserve [Roll Forward]
Outstanding balance, period start	300
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	0
Foreign Currency Transaction Adjustment	0
Outstanding balance, period end	$ 300

INSURANCE STATUTORY FINANCIAL_2

INSURANCE STATUTORY FINANCIAL INFORMATION (Details)	6 Months Ended
	Jun. 30, 2024 USD ($) prescribed_and_permitted_practice	Sep. 30, 2022	Jun. 30, 2021 USD ($)
Related Party Transaction [Line Items]
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	$ (60,000,000)
Unassigned surplus balance			$ 0
Regulation Number 213
Related Party Transaction [Line Items]
Change in statutory surplus	(333,000,000)
Percentage of reserves phased-in		100%
Redundant reserve balance over TAR	323,000,000
Regulation Number 213 with Seperate Accounts
Related Party Transaction [Line Items]
Change in statutory surplus	$ 1,400,000,000

REINSURANCE - Effect of Reinsur

REINSURANCE - Effect of Reinsurance (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reinsurance Disclosures [Abstract]
Direct charges and fee income	$ 686	$ 678	$ 1,376	$ 1,352
Reinsurance assumed	4	3	4	4
Reinsurance ceded - Equitable America	(352)	(345)	(679)	(345)
Reinsurance ceded - third party	(155)	(153)	(311)	(304)
Policy charges and fee income	183	183	390	707
Direct premiums	191	203	393	408
Reinsurance assumed	18	44	57	96
Reinsurance ceded - Equitable America	(35)	(40)	(80)	(40)
Reinsurance ceded - third party	(55)	(51)	(118)	(111)
Premiums	119	156	252	353
Direct policyholders’ benefits	684	742	1,360	1,449
Reinsurance assumed	25	39	64	77
Reinsurance ceded - Equitable America	(181)	(264)	(369)	(264)
Reinsurance ceded - third party	(178)	(182)	(338)	(309)
Policyholders’ benefits	350	335	717	953
Direct Interest credited to policyholders’ account balances	484	490	962	953
Reinsurance assumed	0	0	0	0
Reinsurance ceded - Equitable America	(152)	(151)	(306)	(151)
Reinsurance ceded - third party	(24)	(27)	(50)	(55)
Interest credited to policyholders’ account balances	$ 308	$ 312	$ 606	$ 747

REINSURANCE - Narrative (Detail

REINSURANCE - Narrative (Details) - USD ($) $ in Thousands		6 Months Ended
	Oct. 03, 2022	Jun. 30, 2024
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	50%

REINSURANCE - Reinsurance Reten

REINSURANCE - Reinsurance Retention (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Carrying Value
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	$ 42,336	$ 41,872
Carrying Value | Fixed maturities
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	23,018	24,725
Carrying Value | Mortgage loans on real estate
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	8,160	8,405
Carrying Value | Policy loans
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	264	248
Carrying Value | Other equity investments
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	190	238
Carrying Value | Other invested assets
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	10,704	8,256
Fair Value
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	41,374	40,879
Fair Value | Fixed maturities
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	23,018	24,725
Fair Value | Mortgage loans on real estate
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	7,197	7,409
Fair Value | Policy loans
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	265	250
Fair Value | Other equity investments
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	190	238
Fair Value | Other invested assets
Reinsurance Retention Policy [Line Items]
FHLB funding agreements	$ 10,704	$ 8,257

REINSURANCE - Investment Income

REINSURANCE - Investment Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reinsurance Retention Policy [Line Items]
Net derivative gains (losses)	$ (221)	$ (221)	$ (542)	$ (1,062)
Net investment income (loss)			(23)	(58)
Income (loss) from continuing operations, before income taxes	65	234	4	(486)
Income tax (expense) benefit	(16)	189	(8)	890
Net income (loss) attributable to Equitable Financial	49	422	(5)	403
Comprehensive income (loss)	(421)	(138)	(808)	2,176
Embedded derivatives
Reinsurance Retention Policy [Line Items]
Net derivative gains (losses)	(1,016)	(1,784)	(2,570)	(3,358)
Funds Withheld Assets
Reinsurance Retention Policy [Line Items]
Net derivative gains (losses)	(150)	33	(205)	33
Net investment income (loss)	325	295	665	295
Investment gains (losses), net	(3)	(36)	(38)	(36)
Income (loss) from continuing operations, before income taxes	172	292	422	292
Income tax (expense) benefit	(36)	(53)	(89)	(53)
Net income (loss) attributable to Equitable Financial	136	239	333	239
Change in unrealized gains (losses), net of income taxes	(178)	(173)	(353)	(173)
Comprehensive income (loss)	(42)	66	(20)	66
Funds Withheld Assets | Freestanding derivatives
Reinsurance Retention Policy [Line Items]
Net derivative gains (losses)	611	1,364	1,511	1,364
Funds Withheld Assets | Embedded derivatives
Reinsurance Retention Policy [Line Items]
Net derivative gains (losses)	$ (761)	$ (1,331)	$ (1,716)	$ (1,331)

REINSURANCE - Ceded Credit Risk

REINSURANCE - Ceded Credit Risk (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Reinsurance Retention Policy [Line Items]
Estimated net fair values of purchased market risk benefits	$ 14,185	$ 16,729
Reinsurance recoverables related to insurance contracts	20,383	20,636
Related party - Equitable America	13,402	13,492
Third parties	6,981	7,144
Ceded group health reserves	12	14
Amount due to reinsurers	179	216
Amounts due to reinsurers	179	216
Reinsurance assumed reserves	621	731
Modco payable	34,300
Modco payable	(31,200)
First Allmerica-GAF
Reinsurance Retention Policy [Line Items]
Reinsurance recoverables related to top reinsurers	3,421	3,605
Amounts due to reinsurers	75	73
Venerable Insurance and Annuity Company (A- KBRA (IFRS) rating)
Reinsurance Retention Policy [Line Items]
Reinsurance recoverables related to top reinsurers	$ 1,210	$ 1,057